Zoho Launches New Business Division Zakya To Offer POS Solutions To Retail Stores

An Indian multinational technology company, Zoho Corporation produces computer software and web-based business tools. Zoho Office Suite, an online office suite is the most popular one. Sridhar Vembu and Tony Thomas founded the company in 1996, and it has seven locations with global headquarters in Chennai, Tamil Nadu, India, as well as corporate HQ outside of Austin in Del Valle, Texas. Radha Vembu, who is the sister of Sridhar Vemma, holds a majority stake in the company. Zoho has its headquarters in Chennai, India. In 2021, the company would have 12 offices located in nine countries globally. It has established branches in China, Singapore and Japan. The majority of its support operations are conducted from its Chennai base. Since 2018, Zoho has been conducting operations from its office in Renigunta, Andhra Pradesh.

Related: Zoho Reports INR 2,800 Crore Profit in FY23, with 30% Revenue Growth

Zoho, under the guidance of Sridhar Vembu, a leading figure in the SaaS industry, has unveiled a fresh arm of their business in India called Zakya. This move is aimed at meeting the needs of retail enterprises.

Zakya introduces a comprehensive POS (Point of Sale) solution tailored for retail establishments, simplifying their daily tasks and centralizing monitoring activities. According to a statement by Zoho, this brand equips businesses with robust tools for enhancing inventory management, facilitating omnichannel sales, and enhancing overall customer experience. Remarkably, it boasts swift implementation, even for businesses handling extensive inventories, promising deployment within the hour.

Expressing his thoughts on the division’s launch, Jayagopal Theranikal, the Chief Evangelist at Zakya, shared, “Our primary aim is to support small and medium-sized enterprises by providing solutions that not only sustain their operations but also foster growth.

Referring to insights provided by Invest India, Theranikal highlighted the promising trajectory of the Indian retail landscape. It’s anticipated to witness substantial growth, boasting a robust 25% Compound Annual Growth Rate (CAGR), propelling it to a noteworthy $1.1 trillion mark by 2027, with further expansion to $2 trillion by 2032.

Emphasizing the entrepreneurial spirit prevalent in the nation, Theranikal noted that approximately 90% of retail establishments are classified as small and medium enterprises, with a steady influx of new ventures. Yet, despite this dynamism, it’s noteworthy that a significant majority—over 50%—of store proprietors in India continue to operate manually, signaling potential opportunities for modernization and efficiency enhancement.

Additionally, according to him, many retail enterprises utilizing POS systems continue to grapple with outdated software, imposing technological limitations that hinder expansion. The reluctance to transition to newer software stems from a lack of guidance and technical expertise. Theranikal emphasized that Zakya aims to bridge this knowledge gap.

Zoho stated that Zakya is poised to assist retail establishments in streamlining various operations, including billing, accounting, ecommerce, mobile transactions, managing mobile stores, and handling back-office tasks. Notably, Zakya offers support in 10 Indian languages, including Tamil, Hindi, Telugu, Urdu, Malayalam, Kannada, Punjabi, Bengali, Marathi, and Gujarati, thereby catering to diverse linguistic preferences.

Zakya arrives ready to roll, seamlessly syncing with payment partners like Pine Labs, Razorpay, and PhonePe, catering to both customers and store owners with utmost ease. The company asserts that Zakya effortlessly integrates with shipping solutions such as AfterShip and EasyPost to swiftly fulfill customer orders. Moreover, users have the flexibility to weave in third-party applications, smoothing out their operational wrinkles.

Priced at a modest INR 649 per month, Zakya has been making waves since its beta launch six months ago. Zoho proudly reports that Zakya has welcomed over 170 active stores and boasts a fleet of 320 active POS registers, marking a promising journey ahead.

Last year, Zoho’s co-founder and CEO, Sridhar Vembu, highlighted a significant uptick in the company’s revenue from India, marking a robust 37% year-on-year growth in the calendar year 2022. While specific revenue figures for India weren’t disclosed, Vembu enthusiastically noted India’s emergence as the SaaS giant’s fastest-growing market.

Moreover, Zoho achieved a remarkable milestone as its overall sales surged beyond the $1 billion mark in the financial year ending on March 31, 2023. As an impressively bootstrapped unicorn, Zoho reported a substantial operating revenue of INR 8,703.6 Cr ($1 billion) in FY23, marking a substantial 30% leap from INR 6,710.7 Cr in FY22. Notably, its net profit also saw a respectable 3% increase, reaching INR 2,836 Cr from INR 2,749 Cr in FY22.

Zoho has launched Zakya, a POS solution tailored for Indian retail enterprises to streamline operations and enhance customer experience. Zakya aims to support small and medium-sized enterprises, targeting a retail landscape with substantial growth potential. Offering support in 10 Indian languages and seamless integration with payment and shipping partners, Zakya has gained traction since its beta launch, welcoming over 170 active stores. Zoho’s robust financial performance, with significant revenue growth and surpassing the $1 billion sales mark, reflects India’s emergence as its fastest-growing market.