Tanla Platforms Limited Set to Go Global, Platform Business to Propel Growth
Tanla Platforms Limited, India’s largest CPaaS provider hosted its Investor & Analyst Day virtually today. Business Wire India
- Massive opportunity ahead for Tanla: global CPaaS target addressable market by 2023 expected to be $47 billion.
- Laser focus on customer success and platforms to drive Tanla’s growth.
- Tanla’s robust build-up of cash reserves to be utilised towards strategic bolt-on acquisitions, investments in innovation and product-led growth.
- Resource efficiency, equal opportunity, transparency, and compliance are Tanla’s key focus areas as part of its Environment, Social, and Governance commitment.
With CPaaS being among the leading segments the world over to witness consolidation and capital infusion, Tanla aims to pursue large greenfield opportunities and create a niche for itself in this domain. According to technology research firm Gartner, the global CPaaS target addressable market by 2023 is expected to be $47 billion, which in effect is the market opportunity for Tanla.
Addressing investors, analysts and shareholders, Uday Reddy, Chairman & CEO, Tanla Platforms Limited said, “As India’s largest CPaaS provider, Tanla Platforms Limited will continue to drive strong performance and create superior shareholder value to be the defining communication and customer engagement company of the 21st century. Digitalisation is the opportunity of this generation and Tanla is perfectly poised to leverage the opportunities coming its way.”
The company’s revenue market share for the year FY’ 20-21 was 42% against a revenue of ₹2,341 crore with the total Indian CPaaS market size for the same period being ₹5,600 crore. Highlighting the company’s vision and product strategy, Uday Reddy said that Tanla would adopt the ‘One Platform’ approach with Wisely, the disruptive CPaaS platform, propelling the growth trajectory overseas. The next generation suite of solutions built on the Wisely platform will service customers across all industries and verticals. The platform’s flexibility and extensibility would be the key differentiator.
“We will invest in global expansion to offer our solutions to existing and new customers and consider bolt-on acquisitions to strengthen our one- platform offering,” Uday Reddy added.
Reflecting on the strength of the enterprise business solutions, Deepak Goyal, the company’s Chief Business Officer highlighted the breadth of Tanla’s customer base and the depth of diverse communication tools that have gained it the reputation of reliability and reach to support enterprises across industries and verticals. As India’s largest CPaaS provider, Tanla commands a leading enterprise revenue market share of 30%. Several use cases were cited to illustrate how Tanla’s marquee customers have been served by powering the customer journey in the digital-first world.
With deep, lasting relationships driving growth and leading to the acquisition of over 1,000 customers in the last five years since FY’16-17, Tanla’s success would be driven by four levers: innovative and unique platforms, domain-led solutions, expanding client footprint, strong growth in the Indian and global market.
The company’s platform business, having shown great promise recently, would drive and bolster its overseas growth plans, Aravind Viswanathan, Tanla’s Chief Financial Officer said in his address. The platform business’ contribution to the company’s gross margins increased to 24% in FY’20-21 from 20% in FY’19-20. The platform business would continue to complement Tanla’s enterprise business to create value for its clients. With Tanla looking to expand its business overseas riding on innovation, the next few years would continue to be commitment towards driving sustainable, predictable, and profitable growth, he said.
The presentation, recording and transcript of the webcast shall be available on the website: www.tanla.com
Environment, Social, and Governance (ESG)
To bring about a holistic focus on ESG, Tanla constituted an ESG council earlier in the year. Environmental sustainability, equal opportunity, diversity and inclusion, skill and community development, and integrity in conduct and transparency across all work are some of the key impact areas Tanla has committed itself to. The company aims to be carbon neutral by 2025 and has set itself a target to plant 25,000 trees in the next two years. A sustainability report later this year would detail all the environmental, social, and governance-related initiatives undertaken.
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