 "K2V2 Tech expects Kylas CRM software to be Rs 70 cr revenue rate in 3 yrs")
IT company K2V2 Technologies expects its newly-launched small and medium enterprise-focussed CRM software Kylas to break-even in six months and touch annual revenue rate of Rs 70 crore in the third year of operation.
Kylas co-founder and CEO Ketan Sabnis said that the customer relationship software will reach break-even after getting 200 paid users and the company expects to achieve the desired number within six months.
"We have made Kylas at par with global softwares and priced it at Rs 7,499 per month to target small and medium businesses. We are initially looking to reach 25 lakh SMBs registered with the government as made in India and made for India CRM. We expect to break-even in six months," Sabnis said while launching Kylas CRM suite.
The company is allowing use of Kylas on multiple devices within the organisation on purchase of a single licence.
He said during the launch, Kylas has seen 200 sign-ups and estimates that 20-25 per cent of the sign-ups convert into paid users.
"We need 200 paid users for break even which we can do if we start getting 600 sign ups. There are 25 lakh registered SMBs and the number of unregistered numbers is around 60 lakh. We expect to reach this number within six months," Sabnis said.
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He said that during the last one year, SMBs in India have been severely impacted with the uncertainties of start-stop lockdowns, unreliable cash flows and disrupted supply chains.
Covid-19 has forced SMBs to accelerate digital adoption and ensure business continuity in this challenging environment which provides an opportunity for the company to reach out to those who are looking to adopt technologies.
Additionally, Kylas is launching an 'SMB Upskilling Program' for free with an aim to educate, enable and advise growing businesses about their digital transformation roadmap and operations.
The four-week programme will train SMBs on technology and platforms for business continuity and resilience, marketing (including digital and social media), lead generation and overall digital transformation.
"We basically expect an annual revenue rate of Rs 7 crore in the first year, Rs 30 crore in the second year and Rs 70 crore in the third year of operations. Thereafter, we will look to expand business in the US market and look at raising funds," Sabnis said.
K2V2 Technologies is bootstrapped at present.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
