Download - Indian IT - Beyond Services

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India IT - Beyond Services

1 Evolution - Indian Software Product Companies

2 Current Lay of the Land

3 Success Stories & Emerging Companies

Agenda

Despite its long history, the ‘Indian software product’ story has largely remained untold

3

Early Stage Growth Stage Acceleration Stage

1980 – 1990 1990 – 2000 2000 – 2011

Nu

mb

er o

f P

rod

uct

Bu

sin

ess

es

Low

HighHistory of Indian Software Product Business

Wipro Systems

Softek

TCS

HCLMore than 300 startups in the last 4 years

India excels in banking-specific products

Softek Compilers

Instaplan

Muneemji

Easy Acc

Flexcube (i-flex)

TableCurve (Cranes)

Nikira (Subex)

Tally

mChek

Arc (Manthan)

VIS (3d SOC)

IViZ

Visionary companies built compilers and application software for local market requirement

i-flex

Infosys

Cranes

TallySolutions

RamcoSystems

Polaris

Subex

Compulink

Nucleus Software

Newgen

InfrasoftTech

Kale Consultants

Elitecore Technologies

iViZ

3D Solid Compression

Manthan

Innoviti

VegayanmChek

4

Due to the recession the number of product companies established YoY had reduced but its fast bouncing back to earlier levels

Note: Only companies with visibility/beta product in the market have been considered in the databaseSource: Zinnov Analysis

Till 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

74

3648 39

78

136

90 7995

132 143

209

297285

182153

36

Number of companies established India Product business (FY 1990 to FY 2010)

Q1 2011 no. shows the new companies growth

rate is coming back to pre-recession levels

Total= 2112

150 E

76% of the total product companies are in the space of Digital and Business and Productivity Software

Categorical Distribution of Indian Software Product Businesses

Source: Zinnov Analysis

36%

4%

12%

1%

7%

40%

Business and Productivity SoftwareClient / Desktop,System softwares and ToolsOthers SemiconductorServer / Infrastructure Software and StorageDigital

5

6

Characteristics of the Ecosystems

Israel Ecosystem

India Ecosystem

Silicon Valley Ecosystem

Melting pot of global talent Strong university – industry

collaboration Mature ecosystem with 50 years of

history Experienced mentors with expertise

selling in US markets Strong VC and Angel network Presence of management teams

with experience in scaling businesses

Respect for failure

Melting point of Jewish talent –especially from Russia

Strong university – industry collaboration

Strong VC and Angel network Higher maturity of the engineers

due to military training Government and defense as beta

customers Willingness to sell out in short term Strong connect with Silicon Valley Respect for failure

Strong MNC R&D presence Budding VC/angel community Melting pot for talent from across

the world (Indian diaspora) Strong connect with Silicon Valley Legacy of entrepreneurship

There is a stark difference between Indian start-up ecosystem from that of developed markets

However, a maturing ecosystem has helped accelerate the growth of home-grown software product businesses over the past few years

7

Talent

Pool

3a

Support Ecosystem

Market Development

Role Models Companies

Ecosystem for Indian Software Product Business

1

2

Venture

Capital

3b

Technology

Disruptions

3d

Incubation

Centers

3c


Increased interest and significant investments

by VC’s in Indian Product startups

Over the years, MNC R&D centers as well as

improved education system has created large

R&D talent pool

Technology disruption like Mobile, Cloud and SaaS etc

have lowered entry barriers and created a level playing field for small companies

Many educational institutes and government bodies are

now actively promoting entrepreneurship


2


Agenda

Current Lay of the land

9

Talent

Evolving Innovation

clustersSecond

generation entrepreneurs

Initial set of Exits

1 2 3 4

• We have over

2,50,000

professionals working

in R&D related

services across

captive centers and

service providers.

Overall employment

in silicon valley is only

1 million

• Sheer optimism

among the talent;

Available only in a

few place in the

world

• Cities such as

Bangalore have the

opportunity to

become innovation

clusters

• Successful IT

company founders

have started Venture

funds to encourage

entrepreneurs –

Narayana murthy,

Azim Premji etc

• We have our initial

set of people who

made money from

selling their start ups

and IPO’s E.g. Yasu

technologies, Valyd

software, Skelta

software,

MakemyTrip

Synergy of multiple factors have spurred the Startup ecosystem in India

Vibrant Domestic Market

15%

3%

10%

2%

51%

5%

14%

Mobile Retail Healthcare BFSI

SW & IT Education Others

Increase in venture investments in Indian companies after the lull during the economic crisis of 2008

268

508

876

740

475540*

44

94

144

125

92

110*

0

60

120

180

0

300

600

900

1200

2005 2006 2007 2008 2009 2010

Deal Value Number of Deals

VC Investments in India, 2005 – 2010 VC Investments by Industry, 2010

Source: Zinnov Analysis 10

Some of the key VC and PE investments and exits over the last few years have been in Technology sector (1/2)

PE/ VC Top investments/exits in technology companies in India

Sequoia Capital India Micromax, iYogi, Druvaa Software, July Systems, Axtria, Cognizant, IMImobile, Comviva

Helion Advisors Pvt. Ltd. Azure power(Series B), Jivox, Komli , PubMatic, Kirusa, Zmanda, ngpay

Canaan Advisors Pvt. Ltd. Naaptol Online Shopping, iYogi, Chakpak Media, Bharat Matrimony, Cellcast and techTribe

International Finance Corp. Azure power (Series B), Sunborne Energy, Applied Solar Technologies, Husk Power Systems, Auro Mira Energy, Bhilwara Energy

Nexus Venture Partners Dimdim (acquired by Salesforce.com), Gluster, Netmagic, Cloud.com, Aryaka, Mistral, Altruist Technologies, Kirusa, Snapdeal, Komli Media, PubMatic, Sedemac, Prana studios, MapmyIndia

DFJ India Vegayan systems, ItzCash, ClearTrip, mCheck, mGinger, Reva, iYogi, Komli, PubMatic

Norwest Venture Partners Appnomic Systems, Komli, Suvidhaa Infoserve, Quikr, Yatra.com, Persistent

Sherpalo Ventures Zazzle, 24/7, naukri.com, cleartrip, MapmyIndia, Futurebazaar.com,

Matrix partners India One2three.com, asklaila, Quikr, Verse, ItzCash card, vJive Networks

Lightspeed India AskLaila, Itz cash card, TutorVista

Clearstone venture advisors DigiBee Microsystems, Games2win, BillDesk

Intel Capital India Gone public/acquired - Sasken, Subex, Persistent, R Systems, Future software, Deccanet designsCurrent – Persistent, Tejas networks, Vignani technologies, July systems, Hellosoft, Collabnet, KLG systel

11

Some of the key VC and PE investments and exits over the last few years have been in Technology sector (2/2)

12

Company Sector Amount (USD

Million)

Investors

AryakaNetworks

Cloud Computing

14 Nexus Ventures, Others

PerfintHealthcare

Medical Devices 7.2 Norwest, IDG VenturesIndia, Accel India

Naaptol.com Online Services (Shopping)

7 Canaan Partners

iLevel Solutions Enterprise Software

(Private Equity)

6 Epiphany Ventures,

Komli Media Online Services (Advertising)

6 Helion Ventures,Nexus Ventures, DFJ

Tyfone Mobile VAS 5 Ojas Ventures, Others

Technology Frontiers

DisplayTechnology

4 Avigo Capital

Company Sector Amount (USD

Million)

Acquirer

VM Logix Virtualization/ Cloud

Undisclosed Citrix

Dimdim Cloud/ Collaboratio

n

32 Salesforce.com

Yasu Business Rules

Management

Undisclosed SAP

India Games Online Gaming

4 (18.3%) Cisco

ConzervSystems

Energy Efficiency

~8 Schneider Electric

SkeltaSoftware

BPM Software

Undisclosed Invensys

Key VC investments in Q3, 2010 Illustrative Exits in Last 3 years

Source: Venture Intelligence; Zinnov Analysis

NCR and Bangalore are have around 60% of the Digital Companies

13

Bangalore

Chennai

Mumbai

Hyderabad

Pune

NCR

Kolkata

240

172

39

227

77

17

73

NCR

Hyderabad

Kolkata

Bangalore

Pune

Mumbai

93 4713

Deal websites

Games

Mobile

Social Networking

Shopping

Media and Entertainment

Marketplaces

Travel and Leisure

68 2814

82 5713

103 2

3617

2

23 15818

82

Total= ~846

Digital Product companiessplit across regions

India’s capability to address some of the key opportunity areas in the global market is high


Product Category Talent PoolDomain

ExpertiseInvestments/ M&A Activity

Innovation Capability

Competitive Edge

Role Models

BFSI

Telecom

ERM

Business Intelligence

Security

Retail

Storage

Mobile Applications

Online Gaming

Search Engine Marketing

Very LowVery High

Capability

14

Indian software products companies have been innovating for both domestic and global markets

Mass Visibility Solutions

E-commerce

Education

SMB Niche Applications

Mobile Applications for

Reach

Solutions that enable better teacher, pupil, parent collaboration

Value added services to consumers and monetization via direct lead generation engine for SMBs/Enterprises

SMB specific niche applications that address unique vertical or horizontal pain points

Mobile based applications as a mode to maximize reach

E-commerce platforms for products that do not require touch & feel or the decision is being made before the purchase

Innovations for Domestic Market

15

Tally 9 ERP.NET

Mega Opportunity

Customer Insight

Business Model

• SME customers have connectivity but do not have continuity of connectivity.

• SME Customers require that they have a face to a brand and hence there is a need for a feet on street to sell the solutions to the end customers

• Business influencers play a critical role in the purchase decision of SME’s

• India is a land of Small business with close 59 Million SME’s. Most of these SME’s today have very limited levels of IT Adoption today and hence present a huge opportunity

Solution

• Solution is charged at an upfront cost that varies between USD 300- USD 800 .

• Tally also offers the on premise solution on a rental model

Internet

Online-Offline Sync Option

Tally .NET Server

Mobile Devices

Tally UserTally User

• Tally 9. ERP with online-offline sync option.

• Tally has 11,000 Channel Partners in India

• Tally has built strong relationships with the CA influencer community

Note: Source: Company Websites, Interviews with Stakeholders, Zinnov Analysis 16

• Tata Teleservices had a 5000 strong distributor network. Most of these were either not using a inventory management tool or using legacy tools.

• Moreover data collected from all these distributors was often too disparate for effective analytics• Intermittent internet connectivity caused data duplication at TTSL.• TTSL wanted to address this challenge of consistent and timely data flow from retailers.

• Tally implemented ERP 9 for TTSL over a dedicated online staging cable (eSSTA by TCS) for data flow between retailers and TTSL over HTTPS protocol.

• Tally distributed identical SKU’s to all distributors , which TTSL made mandatory.

• Tightly integrated data flow system between retailer and TTSL.• Data hygiene maintained by removing duplications. Faster claim handling & tracking of complete

distribution activities.• Data visibility across entire chain. Automated purchase order process.• Offline online sync removed the challenge of intermittent internet connectivity

Tally 9 ERP.NET – TTSL Case Study

Client Requirement

Tally’s Solution

Business Impact

17


2


Agenda

Current Lay of the land

iViz – On Demand Penetration Testing

Mega Opportunity

Customer Insight

Business Model

• SME customers have cost challenges of conducting an external security audit.

• Difficult to develop internal expertise • Lack of suitable talent pools for SME’s• Expensive software tools and frameworks

limit the use and adoption of security policies• Security issues mostly affect network

downtime, fraudulent transaction , which dent the brand of the company.

• With many businesses going online one way or the other, security of e-commerce infrastructure becomes an absolute requirement. Not many companies can afford costly security audits and tools

Solution

• Solution is offered as an On-Demand Service. Specific tests and cases are developed according to clients need and business.

• Zero footprint for client. Can be run remotely.

• iViz offers three modules Application , Network and Compliance . Each in two packages.

• Has started a partner program to cross sell and co-brand with other software & service providers .


• A leading travel portal, Makemytrip was facing operational security issues like fraudulent transactions, malware attacks resulting in system downtime etc.

• Makemytrip engaged iViz to deliver a cost effective solution for regular security audits and also identify existing security loopholes in its applications & networks

• iViz prioritized list of vulnerabilities to fix immediately.• Implemented a customized penetration test for the client.• Scheduled quarterly comprehensive security audit and monthly rapid pen tests• Fixed issues with security compliance • Trained internal staff on security management & best practices

• Zero malware attacks till date.• PCI audit controls successfully implemented• Fraudulent transactions reduced significantly• Better user experience due to secure and faster application performance

Client Requirement

iViz’s Solution

Business Impact

iViz – Makemytrip Case study

20

Manthan Systems : Retail Analytics

Mega Opportunity

Customer Insight

Business Model

• Emerging retailers rum on tight margins and inventory control is absolutely critical

• Measuring product performance, optimizing promotions and tracking sales has become critical for success.

• Customer behavior analysis and sales optimization strategies require exhaustive user analytics

• With consolidation in many business lines and rapid outburst of retail and CPG markets in India, many companies now find it difficult to analyze their data using traditional tools.

• Precise analytics can help these businesses achieve scale efficiently.

Solution

• Manthan offers its BI & Analytics solutions as a licensed, on premise installation

• Manthan also partners with select ISV’s for co-branding its products

• Manthan offers its retail analytics solution Under the ARC brand name. It has 5 different modules for different type of analytics.


• Haggen , a large food and Pharma retailer, was using old and outdated model of analytics using excel sheets. It took days to aggregate data from all stores and make a report.

• Reports were limited to sales and inventory data at a high level. • No behavior analysis reports and product performance reports were available. And many of the peripheral

sales activities like promotion were being run on the ‘word’ of store manager.

• Manthan implemented end to end ARC analytics engine , which required only 2 people to manage the entire infrastructure and operations.

• The solution included complete suite of retail analytics modules like sales & inventory reporting, product and store performance, promotion optimization and targeted campaigning etc.

• Haggen found out that the promotions it was running were actually for the wrong subset of products and in some cases generating a loss .

• Savings of USD250k on deployment costs alone. Besides reports arrive in less than 60 seconds for SKU level.

• Haggen utilizes the analytics engine for better resource optimizations and planning , running and managing promotions, analyzing store & product performances etc.

Client Requirement

Manthan’s Solution

Business Impact

Manthan – Haggen Case Study

22

Sanovi – Disaster Recovery

Mega Opportunity

Customer Insight

Business Model

• Companies today are limited in their visibility of recovery readiness of their enterprise systems

• The need for IT Managers is a real-time validation engine for recovery readiness.

• Companies today need to follow many regulatory requirements for data management & security and need a solution which can audit and monitor in real time.

• With most modern organization running their business operation on the internet, availability of enterprise systems is a critical. Organizations need to ensure they are ready for disasters and their data and systems are always ready for any sudden recovery

Solution

• Solution is offered as an Licensed , on premise deployment

• Sanovi also partners with Wipro to offer co-branded managed DRM services.

• Sanovi is the most well equipped Disaster Recovery Management tool to come out of India.

• It has 4 modules for end to end disaster recovery management operations viz. monitor, recovery manager, drill manager & reports


• Essar group is a large diversified industrial group from India, with business interests in Steel, Manufacturing, Communications, Shipping, Energy & Power.

• The Essar Oil & Steel group run their production on SAP and production planning on I2 applications. Business has mandated a Recovery Point Objective of one hour and Recovery Time Objective of five hours

• Industry and government rules on data protection require recovery readiness

• Essar implemented Sanovi’s DRM 4.0 solution for disaster recovery management. Sanovi offered a better value proposition than other solutions.

• End to end testing automation of all recovery readiness tests.• Complete compliance reporting , real time monitoring and complete drill automation solutions were

implemented.

• Dramatically reduced the amount of time required to deploy DR solution for their SAP and I2 applications• The time to conduct DR drill has gone down by over 90% and one person is able to drive the DR drills

without the physical presence of experts.• The real-time monitoring and reporting capability enables the team to share enterprise application’s

recovery readiness report with their management

Client Requirement

Sanovi’s Solution

Business Impact

Sanovi – Essar Group case study

24

Zoho – Cloud Apps

Mega Opportunity

Customer Insight

Business Model

• Globally, SME’s are moving much of their business applications online. None of them want significant capex into technology

• India is the land of SMB’s, many of which are growing bigger by the day. They realize technology adoption is the way forward

• The opportunity lies in developing commoditized solutions such as CRM, ERP, Collaboration etc from India at lower cost and offer the same to SME’s in developed & emerging markets and compete on price, leveraging cloud

Solution

• Solution is offered as a Hosted Service. Specific integrations and migrations are carried out according to clients needs and existing solutions

• Zero footprint for client.

• Zoho offers more than 25 business applications in collaboration, productivity and business applications domain, all on the cloud.

• Offer 3rd party integration with most of its apps enabling use of existing solutions


• Bharath Beedi Works Ltd. is an emerging player in the tobacco business with sales coverage of over 2000 towns in India. The company has 50,000 staff strength with pan-India presence. Exports to 16 countries.

• BBW wanted to simplify highly transactional sales cycle, synchronize between production, logistics and transportation, warehousing, sales and distribution management, track market scenarios and easy monitoring of sales volume fluctuation.

• Zoho implemented a CRM that captures all production information, transportation and logistics details and sales data, right from the wholesalers to the last mile resellers.

• Provides inputs to different stakeholders using email and SMS reminders.• RFID integration with CRM for ease in uploading data, with customized online reporting to management

and staff process leads.• Automated task flow, competition information, market details, product feedback and marketing campaign

monitor.

• Improved sales channel productivity process to strengthen the client’s leadership position in the market.• Re-factor of sales techniques to improve sales productivity.• Decisive steps to closely track the functioning of sales personnel at both the micro and macro level.• RFID integration with CRM, thus saving several man-hours for the client and reducing errors

Client Requirement

Zoho’s Solution

Business Impact

Zoho- Bharat Beedi Works Case study

26

Extensio – Multi Channel Information Delivery on Mobiles

Mega Opportunity

Customer Insight

Business Model

• Mobility needs span across multiple enterprise applications .

• Mobile information access is required for all kinds of users, on types of devices.

• Point solutions that extend specific applications to specific devices users results in spaghetti implementations that are costly to build, difficult to manage and carry a risk of obsolescence.

• Anytime, anywhere, any device access to enterprise information sources is increasingly a must-have for enterprises, specially with the advent of mobile phones, smart phones and tablets.

• Enterprises need a framework to extract, assemble and deliver their information assets to all user touch points.

Solution

• Solution is offered as an On-premise licensed software, with module/user/application pricing.

• Minimal implementation costs. Deployable in days

• Extensio offers a SOA based information delivery framework that enables enterprises to extract from multiple sources, assemble composite applications and deliver them on all mobile phones and end-user interfaces, with almost zero code.


• The Holcim group companies in India, ACC Ltd and Ambuja Cement, were facing intense market pressure due to competitive market activity, volatile prices and inventory issues at retailers and stockists.

• They needed to increase engagement s with Field Sales, Sales Managers, Retailers and Stockists• They needed to streamline their ‘Production to Evacuation” process with deeper engagements with

transporters and suppliers .

• With Extensio’s multi-channel information delivery framework, ACC Ltd and Ambuja Cement created a mobile information delivery channel, that was implemented as several applications targeted towards the various stakeholders and users.

• Applications built included Secondary Sales and Market Intelligence Systems, SAP-enabled shipment notifications, Influencers Applications and “Milk Van” kind of distribution .

• ACC and Ambuja were able to implement dynamic real time pricing and stocking on the field, resulting in increased margins, lower inventory carrying costs and lower stock-outs.

• Accounts receivables from retailers was reduced from 200 days to 3 days.• The implementation received an Holcim Global Innovation Award, and is now a Case Study in the Zurich

University

Client Requirement

Extensio ’s Solution

Business Impact

Extensio – Holcim Case study

28

Qontext – Social Media for Enterprises

Mega Opportunity

Customer Insight

Business Model

• Large MNC, looking to engage audience before a new product launch.

• MNC’s looking to revamp their marketing campaigns through targeted promotions to existing customers

• Companies looking to establish a better connect with their customers and employees on an informal channel, where expression of ideas and feedback is easier

• Social media is the new phenomena in one to one connects.

• Companies are now looking to connect with their clients , customers and employees using non-traditional ways like social media

• Social Media is a great channel for product feedback, Promotions and pre launch marketing etc.

Solution

• Solution is offered as a Hosted Service. Specific integrations and migrations are carried out according to clients needs and existing solutions

• Zero footprint for client.

• Qontext offers enterprise social platform which can be used to create 5 different types of communities for social collaboration amongst targeted users

• Qontext was named a Gartner Cool Vendor for 2011


• IndiaFirst Life Insurance wanted to create a common social platform , where its employees could communicate with its customers over a common platform.

• IndiaFirst also wanted a common collaboration platform between employees for knowledge sharing, lead discussions etc over an informal channel.

• Qontext implemented its social collaboration platform for IndiaFirst , creating 3 different communities for employees, customers and distribution partners. All these communities could interact between each other and everyone had a choice of what information they would like to make public and what they would selectively share.

• Qontext team made sure the solution was integrated with IndiaFirst’s existing business systems and a seamless flow of information was put in lace between them.

• Qontext being a hosted solution did not involve large Capex for IndiaFirst. • Qontext was able to bring all its employees and distributors over a single collaboration platform .• Queries for many customers who did not want to be called but requested for information were addressed

on this platform . If needed they were asked to chat/discuss in real time on the platform.

Client Requirement

Qontext’s Solution

Business Impact

Qontext- IndiaFirst Life Insurance Case Study

30

MangoSpring – Enterprise Collaboration

Mega Opportunity

Customer Insight

Business Model

• A lot of innovation in modern day companies is generated by employee ideas. Companies are looking forward to a Google like model to incubate the best ideas in-house.

• Needs product teams in different geographies to share and develop a new product customized to each geography.

• A lot of SMB businesses are now run by people working out of multiple offices. The need for a collaborative decision is increasingly important.

• Most of these SMB’s do not want a high Capex on collaboration tool or travel

Solution

• Mangospring offers three deployment options : Shared Cloud , Private Cloud and Hosted.

• Each application can be purchased separately or in a package.

• MangoSpring offers an enterprise grade collaboration platform which is segmented into 4 different modules : Enterprise, Collaboration, Communication and Management. Each of these have their own sub products.


MangoSpring – Intrado Case Study

• For over a quarter of a century Intrado provides the core of the nation's 9-1-1 network and innovative emergency communications services and mobility solutions that transform communications and help save lives.

• Intrado wanted a social collaboration platform on which employees could share innovative ideas and discuss solutions to existing problems.

• Mangospring first implemented their enterprise suite at Intrado, with modules for intra-company communication, collaboration and social interaction.

• Mango integrated its solution with Intrado’ existing LDAP servers and also ported all existing discussion forums to its platform.

• Mango also established a new social interaction platform for company’s internal users.• Further to this, Mango also implemented its wireless gateway to be used in one of Intrado’s products

• Intrado was able to successfully increase collaboration between enthusiastic employees .• Intrado was able to create a resource pool of ideas . It was one of the ideas posted in the resource pool,

that morphed into a new product offering for Intrado. • Intrado then leveraged MangoSpring’s wireless mobile gateway technology to launch SMS based 911

services.

Client Requirement

MangoSpring’s Solution

Business Impact

Zinnov LLC

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33

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SMB Vertical Specific Applications

The Opportunity

• Solutions that address niche vertical and horizontal needs of SMB’s are likely to succeed as these solutions address pain points

• Example Areas:

• Collections Management Solution

• Retail POS Solutions for Mom & Pop Stores

• Pharma software for batch tracking

• Litigation Management Software for lawyers

Reasoning

• There are 59 million SMB’s in India

• They are spread across multiple verticals and follow unique business processes.

• They want solutions that address their niche pain points and are willing to pay a premium for such solutions

• The SMB spend on software and services is projected to touch USD 2.1 Billion in 2010

Solutions focused on BFSI Vertical with niche focus on Micro Finance

Services Offered

Micro Finance Platform

Litigation Software

Micro Insurance Platform

Insurance Software

Value Proposition

Niche Vertical focused solutions that address a specific customer pain point and is required by SMB’s to scale their business

Business Model

Support technology platform with strong set of business services that will allows the firm to remain continually engaged with the

client.

Mobile Solutions that Address the reach challenge faced by enterprises

The Opportunity

• Any solutions that enable large industry verticals looking to scale to reach a broader set of customers and provide their services on mobile devices present a significant opportunity in India

• Example Areas:

• Retail Campaign Management Solution

• Virtual Insurance Solutions

• Vaccination Tracker

Reasoning

• In India there are 520 Million mobile phone subscribers today.

• Industries such as BFSI, Retail, & Healthcare are looking to grow rapidly by providing services to those outside their current service net.

• Given the cost of sale and cost of reach, these firms will look to leverage mobile devices to provide their services to customers and scale.

• The services would have to be customized to the mobile form factor and delivered

Financial Inclusion – Through mobile banking

•The EKO customer walks up to any of the retail outlets licensed to operate as an authorized "Customer Service Point" (CSP) in the area

•For these customers, their banker is none other than the friendly neighborhood "kirana store”

•Plan is to set-up 500,000 such licensed outlets within the next two years

•Eko has developed a low-cost banking platform called "SimpliBank" which ensures real-time transactions

•SimpliBank is a stripped down version of a core banking platform with limited functionalities (reducing cost to the consumer)

•Eko customers type the bank’s short code, then an asterisk, then the mobile number of the person you are paying, then an asterisk, then the amount, then another asterisk

•Account holders get booklets with pages of 11-digit codes. Seven digits of it are random numbers, with four randomly placed black marks, where the person enters his or her PIN

Download - Indian IT - Beyond Services

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