Global SaaS Major Zoho crosses $1 billion in annual revenue. The company plans to open 100 network PoPs (point of presence) around the world in the next five years for providing users with a faster network, and also double the investment in technologies such as blockchain and AI (artificial intelligence).
“While growth has slowed down quite a bit in 2022 over 2021, our diversified product portfolio and the fact that we save money for customers have helped us so far. We hope to continue to serve our customers by bringing the highest quality offerings at very affordable prices.” Said Sridhar Vembu, CEO and Co-founder, Zoho.
The company is known for its prudent spending and has surpassed USD 1 billion in revenue, with India leading the growth. India’s annual revenue increased by 77 per cent in 2021. The company is seeing uptake of products across different categories, with the top five offerings in India being Zoho One (the operating system for business), CRM Plus (customer experience platform), EX offering—led by Zoho People (human resource management platform) and Zoho Workplace (enterprise collaboration platform), and the finance suite led by Zoho Books (GST-compliant accounting software).
By offering unified solutions across various categories (customer experience, employee experience, marketing, collaboration, etc), that also integrate well with third-party solutions, Zoho is witnessing increased adoption from mid-and-large size businesses as well, especially in India. While there’s an uptake of Zoho CRM Plus, Zoho People Plus and Zoho One amongst mid-large-sized businesses, Zoho Books and Zoho Workplace are seeing mass market adoption.
Zoho has built its technology stack from scratch—from apps and platforms to networks and datacenters. The stack is horizontally, vertically, and contextually unified. To offer unparalleled value and user experience across the tech stack, Zoho invests in developing core R&D capabilities, apart from product development. These capabilities can be categorised into data, database and data centers.
For better processing of data, Zoho is focussing its AI development around statistical machine learning, computer vision, and natural language processing (NLP). The technology developed by the central R&D team is utilised by-products for different use cases.