In post-pandemic world, more businesses are adopting new-age digital solutions to drive business growth further. The transformation through innovative and advanced technology-enabled business solutions are contributing to sustainable business growth now. Cygnet Infotech has been supporting businesses in their digital transformation journey with its technology services, products, tax technology solutions, and Fintech offerings. Rajeev Ranjan, Editor, Digital Terminal recently talked to Niraj Hutheesing, Founder and Managing Director at Cygnet Infotech. Mr. Niraj elaborated about their journey, offerings and strategies for 2022: Read below the excerpts:
Rajeev: Can you please share Cygnet Infotech’s journey since its inception and how the company has grown so far?
Niraj: Since its inception in 2000, Cygnet Infotech has been committed to building technology enabled business solutions for clients globally. Over the past two decades, the company has grown substantially and has widened its clientele. Since last year, the organization has grown by more than 12%., We serve clients across 35 countries with our 1200 people strong engineering and consulting teams spread across several countries. As a leading software product engineering company, we have delivered more than 2000 solutions for our clients by leveraging cutting-edge technology including Hyperautomation, Blockchain, AI & ML. As a testimony of our services and solutions, as of today, we work with Fortune 500 enterprise corporations, medium-sized businesses, fast-paced start-ups, as well as government bodies.
Rajeev: What are the kinds of business solutions and services does Cygnet Infotech offer to SMEs?
Niraj: Cygnet Infotech’s offerings range from Technology services, products, tax technology solutions, and Fintech offerings. Our wide range of solutions include Digital Transformation, Software Product Engineering, Robotic Process Automation, Test Automation, Digital signing solutions, and more. Our tax compliance management solutions help businesses build, automate, and modernize tax tech architecture and streamline global tax compliance processes. This allows small and mid-sized enterprises to manage their invoices without errors and supports tax data analysis, audit assessment, vendor digitization, and tax compliance tracking, and establishing a systematic & modern legacy system. Our digital field sales management and accounting software solutions are tailor-made for small and medium sized businesses.
Aligned with our vision of providing technology-enabled business solutions, we deliver end-to-end solutions for clients’ most pressing business needs.
Rajeev: What will be some of Cygnet Infotech’s key focus areas for 2022?
Niraj: Cygnet Infotech will continue to adhere to its promise of designing, building, optimizing, and delivering technology-based solutions, further enabling clients to move towards smart systems through automation-driven software product engineering.
We will continue to support our clients in building standalone technology solutions, wherever needed. However, we will enable our clients to move from standalone to connected systems and eventually to AI and Big Data driven Smart systems that enable smarter decision making.
We will continue to focus on our Tax Technology offerings in India, Middle East and increasingly also in Europe. We will scale our Fintech offerings that are targeted towards industries including BFSI, Manufacturing and others in India and elsewhere. Our Software Product Engineering and Technology Services will see an additional fillip owing to renewed focus and addition of senior Talent in North America and Europe.
Rajeev: What were the new products/service offerings launched to cater to the market post-pandemic?
Niraj: Post-pandemic we have capitalized on the opportunities by leveraging emerging technologies to help our clients face new challenges. To counter the effects of the pandemic, we have offered some of the most mission-critical business solutions such as Cygnature – a blockchain-enabled digital signing solution and AutomationwhiZ – a software bot universe with free bots to automate business processes. These solutions are enabling businesses to be resilient during this crisis. We have also acquired euVAT Online in the UK, a cloud-based VAT technology solution provider, that has been the forefront of VAT technology for more than 20 years. Cygnet Infotech recently launched its e-Invoicing offering for the Kingdom of Saudi Arabia. It is accredited as a "qualified solution" with the General Authority of Zakat and Tax (GAZT). It provides technical solutions for the issuance of electronic invoices & electronic notes.
Rajeev: What has been the impact of the pandemic on various business offerings?
Niraj: These have indeed been unprecedented times. The organization, like many others, had to swiftly recalibrate on several business operations once the pandemic hit. But since then the resilience and innovation of our teams have only increased. As mentioned earlier, we have focused on solutions that enable business to run operations smoothly in the evolved business scenario, but also on offerings that help business drive greater customer value in these difficult times. Solutions for E-signing, Automation driven solutions, smarter Tax Tech solutions and others have been of value to our clients in these times.
Rajeev: What would be your message for customers looking at technology enabled business solutions especially in the tax tech space?
Niraj: Technologies enabled Tax solutions make it possible to cater to the mandates of the global digital economy with changing tax data flows, data analytics, and data requirements to build, automate, and modernize tax compliance processes without errors. Companies willing to invest should be made aware that tax technology is a great strategic component for enterprise transformation evolving at a pace that is prominent.
Cygnet Infotech’s key focus here would be to provide end-to-end integration with legacy systems to simplify and automate reporting with enhanced transparency through reconciliations. Apart from that, tax technology also creates opportunities for tax professionals in terms of monitoring data and getting to results that enable strategic decision making. To summarize, the new digital tax function is growing, and companies need to keep up with this variation. This way they will be able to improve organizational efficiency and productivity in the new normal.
