Chennai-based international tech giant Zoho corporation has crossed $1 billion dollars in annual revenue. The company’s CEO Sridhar Vembu attributed the achievement to the diverse product portfolio of the company and said, “we have provided our customers with the best quality of service at cost-effective prices throughout the years, and will continue to do so.”
The company has subsidiaries in nearly 150 countries and over 11,000 personnel in employment and aspires to establish 100 more PoPs (points of presence) within the ensuing 5 years for achieving a faster network. Vembu said, “The company’s India market has expanded by 77% in 2021 while acknowledging that there is a disquieting recession happening across the world, and the central banks of the nation are aware of this."
Whether this will develop to be an unprecedented setback for the world’s financial institutions, in the ensuing days is yet to be determined. The company is currently focusing on framing its Artificial Intelligence (AI), around Natural Language Processing (NLP), statistical machine learning and computer vision for better data processing. Nearly 80 million users around the world utilize Zoho’s services to run their businesses.
The company said in a statement, “ Zoho’s AI models are assembled with Privacy at the core. Accurate results can be generated without personally identifiable information (PII) and with much less data. Thereby lowering the barriers for smaller businesses, that have little data to utilize AI technology, while larger organizations can acquire insights securely without violating their users' privacy.”
Zoho spends three times its marketing budget on R&D yearly and has received 25 patents in the past three years. CEO Sridhar Vembu attributed the company’s growth to well-founded R&D capabilities across the markets and categories. He added, “in the following years, marketing costs will be cut to contain costs, which will also have an impact on hiring.”
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