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Bangalore start-up rolls out CRM product

Fakir Chand in Bangalore

Within a year of commencing its operations as a start-up, the Bangalore-based Vismaya Technologies Ltd has rolled out its first customer relationship management product to address the growing requirements of business enterprises in the B2B and B2C segments in India and abroad.

The software product, SpelBind, is an interaction service suite for contact or call centres, and carries several features which compares it to the best-in-breed interaction suites products available worldwide.

Launching the product for the domestic as well as the Asia-Pacific markets in Bangalore on Tuesday, Vismaya CEO N S Srivatsa claimed that SpelBind was the only Indian CRM product that was integrated traditional and future media, as it is in sync with user needs and progress of technology.

"SpelBind supports customer interactions across six media seamlessly such as e-mail, chat, message board, telephone, fax, and snail mail. Being open-architecture and scalable, it allows plug-and-play of even future media, be it wireless, video conferencing, or Voice over the Internet Protocol (VoIP)."

Developed using the Unified Media Contact Center platform for creating flexible and comprehensive CRM solutions, the product meets the entire interaction needs of customers, enabling them to choose the media of contact, as well as keep abreast of their transactions.

"The product has been successfully beta tested and deployed in many client locations that include both contact centres and business enterprises as it facilitates a portfolio approach to customer management, which is the next wave in relationship management," Srivatsa affirmed.

Armed with a provisional patent for a multimedia IP platform, Vismaya has started working with a dozen Indian and global companies for delivering end-to-end solutions in the implementation of their CRM strategy. Among the consulting firms are Arthur Anderson and Verterbrand. In systems integrators category, it has roped in Network Solutions, Crompton Greaves, and Alliance Infotech, and an US-based telecom giant, ECI Telecom, and Network Program in the product segment.

"After consolidating and expanding our market presence in India and the APAC region, we will enter the US and European markets by next year to take the revenues from the projected Rs 40 million at the end of the current fiscal year (2001-02) to Rs 250 million by next fiscal (2002-03), and Rs 650 million by 2003-04," Srivatsa stated.

Though the company has started its operations with a paid-up capital of just Rs 750,000, it will be doubling the investment Rs 10.5 million for expanding its future operations, especially in the US and Europe as the CRM market is estimated to grow by 300 per cent over the next 3 years to $21 billion from the current $8 billion.

According to industry surveys, the CRM market in India is said to be around $113 million, and in the Asia-Pacific countries around $1.3 billion as software will continue to have a large-scale of the total spend on customer relationship. Since small and medium enterprises account for more than the market share, Vismaya has drawn a roadmap, as the product offering will be an integrated suite comprising sales, services, and marketing functionality.

"Customer support and contact centre applications are the largest segment in the CRM space, where outsourcing forms the largest component of the market," said company's COO Vasu Krishnamurthy.

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