Synersoft is pioneer in developing path-breaking and disruptive software solutions for MSMEs. Synersoft security and data loss prevention solutions are aimed at minimizing IT infrastructure cost for SMEs, and enhancing their competitiveness with state of the art IT standardization. These solutions focus on data preservation, data security, fraud mitigation, and software license cost minimization.
In an interaction with NCN Magazine, Mr. Vishal Prakash Shah, Co-Founder & CEO of Synersoft Technologies Pvt Ltd, shares about their solutions MSMEs, their future plans, mission, and vision.
How did Synersoft fare in the last 10 months? How did your main solution BLACKbox fare in the same time?
Over the past ten months, Synersoft has experienced a notable upward trajectory in its performance. During this period, our company has achieved significant milestones, and the performance of our flagship solution, BLACKbox, has played a pivotal role in this success. In particular, the last financial year marked a significant turning point for Synersoft, as we achieved our highest-ever revenue. This achievement is primarily attributed to a remarkable upsurge in revenue during the final quarter of the preceding year. The momentum generated during this period has not only been sustained but has also seen steady growth over the past two quarters of the current year. As a result, we find ourselves on track to surpass last year’s record revenue.
At the heart of this success is BLACKbox, our main solution, which has played a pivotal role in driving our overall performance. Over the last ten months, BLACKbox has undergone a series of transformative changes, including the introduction of features such as the ‘magic browser,’ a cutting-edge hybrid email system, and the integration of productivity insights. These enhancements have significantly elevated the desirability and utility of BLACKbox, making it an even more attractive proposition for our target market, particularly the small and medium-sized enterprises (MSMEs).
The introduction of the ‘magic browser’ has given our users a more seamless and efficient web-browsing experience within BLACKbox, enhancing their productivity and overall satisfaction. Additionally, the integration of a hybrid email system has streamlined communication processes, making it easier for businesses to manage their emails and collaborate effectively. Furthermore, the incorporation of productivity insights has empowered our users with valuable data and analytics, enabling them to make more informed decisions to enhance their operations.
Overall, the last ten months have been a period of remarkable growth and success for Synersoft, with BLACKbox leading the way by not only contributing significantly to our revenue but also by continually evolving to better serve the needs of our customers, particularly in the MSME sector. Our commitment to innovation and client-centric solutions has been a driving force behind our achievements, and we are enthusiastic about the possibilities that lie ahead as we continue to refine and expand our offerings to meet the evolving needs of our clients.
How did your security and data loss prevention solutions, other than BLACKbox, have been doing so far?
Our focus on serving the MSME segment in India has led us to develop a range of security and data loss prevention solutions tailored to meet their unique needs. While BLACKbox is our flagship product and a comprehensive, all-in-one IT solution, we also offer function-specific modular solutions designed to address the nuanced security and data protection requirements of different organizations. These modular solutions, apart from BLACKbox, cater to a specific set of customers, primarily larger enterprises with well-established IT teams.
One key factor influencing this approach is the level of technological understanding within our target market. MSMEs in India typically do not possess an in-depth understanding of the various components and complexities of technology. They seek holistic solutions that provide a one-stop answer to their needs, encompassing data protection, information security, insider threat mitigation, and cybersecurity compliance. Given their limited technical knowledge, it can be challenging for them to discern which individual modules of a solution they may require. BLACKbox, with its all-encompassing features, aligns perfectly with their preference for simplicity and comprehensiveness.
As a result, MSMEs make up the majority of our client base, contributing significantly to our overall revenue. They are drawn to BLACKbox because it offers them an ‘IT in a Box’ solution that comprehensively addresses their technology requirements without the need for in-house IT expertise. In contrast, the modular solutions we offer cater to larger enterprises that have more sophisticated IT departments and the expertise to identify and implement specific security and data loss prevention modules that align with their requirements.
While our modular solutions have their own merits and are well-received by our larger enterprise clients, they represent a smaller portion of our business due to the predominant preference for BLACKbox among our MSME clientele. This strategic decision allows us to remain focused on the needs of our core customer base while still offering specialized solutions for more technically inclined organizations. In summary, our security and data loss prevention solutions, other than BLACKbox, serve a niche market of larger enterprises with specific requirements, while our primary revenue driver continues to be the holistic BLACKbox solution, which resonates most with the MSMEs we aim to empower.
In addition to SMEs and MSMEs, do you have plans to expand into other segments like corporates, consumers, etc.?
We started this company as an Indian Product Company focused on the Indian MSMEs. It is a huge market to cater. Also, the space in the enterprise segment is quite cluttered. Strategically, we are committed to maintaining our focus on MSMEs of India who require IT Standardization, Data Protection, Information Security, and Insider Threat Mitigation to become globally competitive.
Recently, you have launched Implementation and Support Partner certification program. Please brief us how it works and benefits the partners; and what you expect from it and the response have you received so far.
Traditionally, channel partners sell the products and grow their business. It requires sales skills and an established customer base. Most channel partners struggle to sell the products after they have exhausted their customer base. We have understood this limitation and discovered the strength of the channel community that is capitalized by very few OEMs. It is their technical knowledge and experience. Our Implementation and Support Partner Program capitalizes on channel partners’ technical knowledge and experience. Synersoft does direct business as well as channel business. For its direct business, it wants to share the revenue with Technical Partners for their implementation and support services. With this program, Synersoft wants to outsource the implementation of its product BLACKbox to the technical partners. These partners are expected to acquire complete knowledge of BLACKbox products. They need to nominate themselves or their team members for enrollment at BLACKbox Academy to go through rigorous BLACKbox Certified Security Professional Certification Program training and get certified for BCSP Level 1, Level 2, Level 3, and Blackbelt. Synersoft will guarantee a business volume and outsource the implementation and maintenance of BLACKbox to successful technical partners.
What are your plans for 2024 in terms of new solutions, company targets and reaching out to new regions and partners?
We are doing it at three levels.
Product enhancements: We are developing AI-powered data leakage detection and productivity insight features in BLACKbox. With the customer’s permission, this data will be fed to an AI model for machine learning. It will be a self-collaborative phenomenon that will help every BLACKbox customer and significantly enhance the product’s value proposition.
Geographic expansion: We are eying at Bangladesh, UAE, and African Regions to expand our business. These regions have similar MSME segments that require comprehensive but easy-to-use and affordable IT Standardization, Data Protection, Information Security, and Insider Threat Mitigation solutions. Scale up strategy: We are ambitious about our Technical Partner Drive. We intend to multiply our capacity to implement and support the product with Implementation and Support Partners to cope with the rapid growth phase we anticipate to go through.