Triotech Solutions: “Our solutions act as a bridge between city development and rural segment”

In an exclusive interaction with DQ Channels, Munish Dhingra, Co-Founder and Chief Sales Officer informs that Triotech Solutions hopes to thrive on home-grown applications.

Can you introduce Triotech Solutions?

Ans. Triotech Solutions is in the area of VAS, mobile Commerce service delivery and applications /solutions development in the area of mHealth/Education and Financial Inclusion. Our approach towards business is based on creating value for our customers through our value added services where we are leveraging various mobile services like SMS & WAP. Also we employ innovative technologies in the area of financial services, where we are in the process of creating a financial ecosystem.

What is your Go-To-Market strategy?

Ans. We have a clear focus of delivering services to the fringe of the country and build an ecosystem in the area of mobile commerce using our own homegrown applications and solutions. Engaging Business Correspondent to build the ecosystem of delivering variety of mobile commerce services would continue to be the key focus.

What is the current employee strength? Do you have any plans to increase the no. of employees or any expansion in other cities?

Ans. Presently, Triotech as a Group has close to 60 employees. Moving forward, during the current financial year (2015/16), we would have established our m-commerce service delivery solution across the country. For this we would be consolidating our manpower adding between 100-150 persons at various levels. However, the majority of new employees will be concentrating on our distribution and retail channels.

How your solutions help IT organizations/people?

Ans. Our solution has a mix of IT and Telecom offerings. The present offering is for the people to engage technology on a standard handset for meeting their day-to-day needs in terms of m-commerce. The fact is that the credit card penetration in India is still very low and at the same time banking services at the fringe of the country are also not available, the way they should have been. Our solution is precisely for closing this gap. It caters to the needs of those individuals to process their needs like cash-in, cash-out, bill payments, top-up using their standard handset.

What are the recent developments at the company/IT company?

Ans. We are creating lots of use cases for m-commerce to pick up. Use cases are in the area of mHealth, education, transportation where people can use wallet to make small payments. Our foray in to M2M space will bring us close to the consumers. Few uses cases in the area of health care and payment solution will bring in the fringe segment close to the main stream. Our solutions are acting as a bridge between the city development and the rural segment, which generally are deprived of the technological evolution. We want to focus on simple solutions, which touch our day-to-day life and bring in the ease factor.

What steps are you going to take to tap the growing need of efficiency and security in the online world?

Ans. Since we are in the area of mobile payments, security is of utmost importance for us, both in terms of customer identity and also in terms of transaction flow. The security issue has become more important not only due the regulatory eco-system but also the increase frequency of frauds happening in this industry. We have made substantial investments and resources in terms of development of unique algorithms for security of our financial solutions.

Which are the verticals going more for Triotech? Which regions are you targeting now?

Ans. Initially, when we started, the focus was primarily to create a market for us in the value added services segment. Our growth has happening within this segment. However, as we moved forward, the level of awareness and the requirement of services amongst our audiences too evolved. Keeping with their needs, we readopted and as of now from a purely VAS Company, today we have mobile commerce service delivery capabilities also. During the course of time, we have also started targeting the developing countries for this service.

What is your channel strategy?

Ans. Business Correspondent engagement with application for retail and distributor segment is what we are focusing on. We are also engaging partners in other region for quick penetration. For reaching the far flung areas it is important to build partnership and create and ecosystem of entrepreneurs in this journey. This would be the foundation of our company.

What is your existing channel partner program?

Ans. Our existing channel partner program is the enrollment of Business Correspondent across the country. We are also initiating programs around market distribution and discounts related to products.. For each use case we will bring in local partners to be part of business driving force and bring this digital economy close to their locations.

What edge do your services offer to customers?

Ans. Since our mCommerce solution is open wallet with SBI as the banking partner, customers have an option of cash-out as well. Also Triotech being in the area of solution development, we are building many new use cases in the area of education, health, and citizen centric services which will utilize the mWallet ecosystem for ease of payment for the rural and semi urban market.

Which companies do you consider as your competition in the Indian market?

Ans. We are filling the gap which is prevalent in the market presently. Most of the mCommerce players are focused on the Urban market, while as our focus is rural and semi urban. WE will be complimenting our competitors rather than competing. In this space few players like ECO and FINO are prevalent.

Any tie-ups to be announced in near future?

Ans. We continuously are on a look out for new solutions and have recently tied up with USA- based company VMS for products related to education and compression.

What are the business expectations and targets that you have to set out to meet in India?

Ans. We continue to grow year over year and expect to continue growth annually at the rate of 30 to 40% annually

What are the company's future plans?

Ans. Our future plan is to move to the other markets to grow the business in the regions like Sub Sahara, Middle East and Far East. .