At the recently held Convergence India event, Zoho showcased its growing focus on the fintech space. From launching innovative solutions like Zoho Payments to collaborating with platforms like NBBL, the company continues to expand its already comprehensive suite of financial products. In this exclusive interaction, Rajeev Ranjan, Editor, Digital Terminal, spoke with Sivaramakrishnan Iswaran, Global Head of Zoho Finance. He shares insights on the company’s vision, the growing adoption of AI, expansion plans across India and global markets, and the evolving role of Zoho’s partner ecosystem.
Rajeev: What are the key objectives behind ZOHO’s participation in Convergence India?
Sivaramakrishnan: We are showcasing our fintech solutions, including Zoho Payments, which we launched at the Global Fintech Fest last August. Additionally, we introduced a solution in collaboration with NBBL. Our primary focus at this event is to highlight these fintech offerings, along with our comprehensive suite of financial products.
This suite covers everything from billing and invoicing to accounting, payroll management, travel and expense management, and inventory management. Our goal is to engage with customers, partners, and other technology collaborators to expand our ecosystem and drive meaningful collaborations.
Rajeev: How do you see Zoho’s growing adoption across businesses of all sizes and industries?
Sivaramakrishnan: We offer a comprehensive suite of products tailored for different segments, and we are witnessing strong adoption across all of them. Beyond India, our products are also gaining significant traction globally. We are experiencing substantial growth not only in India but also in the GCC region, Africa, and Latin America, in addition to our established markets in the US, UK, Australia, and Canada.
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Rajeev: With AI now part of everyday life, how is it enhancing workflows and customer interactions within your ecosystem?
Sivaramakrishnan: We are actively developing our own Agent Studio, which will enable us to release a variety of AI-powered agents. Using this agentic framework, our customers will not only have access to the agents we provide but also have the flexibility to create their own. This will significantly enhance automation, allowing businesses to streamline operations and improve efficiency.
Rajeev: Which solutions do you see benefiting the most from AI integration?
Sivaramakrishnan: Very soon, AI integration will be implemented across all solutions.
Rajeev: How significant is India’s contribution to your success, and how do you plan to balance growth between India and global markets as you expand?
Sivaramakrishnan: Initially, our primary focus was on the global market. When we launched our cloud solution, we primarily targeted developed countries where cloud adoption was already well established, such as the US, UK, and Australia. However, around 2015–2016, our focus began shifting towards India. Since then, adoption in India has been remarkably strong. In the early years of our business, India was not among our top 10 markets, but today, it has become one of our largest markets and is now among our top one or two globally.
Rajeev: With customers ranging from small retailers to large enterprises, what challenges do you face in user training, and how does Zoho ensure effective support and resources for them?
Sivaramakrishnan: We have dedicated teams that focus on different customer segments, which makes our approach more efficient. Some of our products are designed for individual users, while others cater specifically to enterprises, and each segment has a dedicated team working on it.
Beyond that, we have a vast ecosystem of partners, including resellers, system integration partners, and trainers, who play a crucial role in supporting our customers. Additionally, we actively collaborate with educational institutions to train students, further strengthening our ecosystem. This comprehensive network enables us to effectively assist users across different segments and ensure seamless adoption of our solutions.
Rajeev: How is Zoho’s partner ecosystem growing across metros and tier-2/3 cities, and what trends do you see in their engagement?
Sivaramakrishnan: We need partners across all markets to ensure comprehensive coverage and growth. Naturally, when an ecosystem begins to develop, it starts in major metro cities, as these regions have a large customer base, which is essential for partners to thrive. Initially, most partners establish themselves in metro areas, where demand is high.
However, over time, we have also expanded our focus to tier-2 cities. At Zoho, we emphasize two key areas: R&D (Research & Development) and RD (Rural Development). While R&D is well understood, RD represents our commitment to fostering growth in rural areas. We have established multiple rural centers, primarily in South India, where we set up campuses dedicated to innovation and development.
Now, we are also expanding into North India, bringing similar initiatives to smaller towns and villages.
Whenever we establish a center, we actively work on developing the surrounding ecosystem, ensuring that local talent and businesses benefit from our presence. This approach has played a significant role in expanding our ecosystem beyond metro cities and into tier-2 and rural areas.
Rajeev: With the recent leadership transition and Mr. Sridhar Vembu’s continued guidance, how do you see this change shaping Zoho’s vision and future direction?
Sivaramakrishnan: This leadership change will allow him to dedicate more time to research and development, which will be highly beneficial not only for Zoho but also for the broader community. With a stronger focus on technology and innovation, this transition will contribute significantly to our growth and advancements, ultimately benefiting everyone involved.
Rajeev: What are your growth expectations for Zoho over the next year, and what key strategies will drive that vision?
Sivaramakrishnan: At Zoho, we maintain a strong focus on R&D, continuously innovating and launching new products. Our approach is not limited to just one or two offerings—we consistently expand our product suite to drive growth and enhance our ecosystem.
Our entry into the fintech sector with Zoho Payments is relatively new, and we remain committed to innovation in this space. As we introduce new products, they gain traction and contribute to the overall growth of our portfolio. This strategy not only drives revenue but also increases adoption of our existing solutions while attracting new customers through our latest innovations.
Rajeev: What message would you like to share with your global customers and partners?
Sivaramakrishnan: Our success today is a result of the unwavering support from our customers and partners. I sincerely thank each one of them for being a part of our journey and helping us reach this milestone. The future looks promising, and we are excited for what lies ahead.
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