Here’s the interview snippet from the interaction with Mr. Vijay Patel, Director of Soft Tech Solution.
Saumya: Can you give a general overview of the business model for Soft Tech Solutions?
Vijay: With more than 800 clients, SOFT-TECH Solutions is a top supplier of telecom and fintech software solutions for banks, financial institutions, and other companies. Ahmedabad, Gujarat, is home to our headquarters. When Soft-Tech Solution was founded in 2015, we began operations by integrating third-party financial software and providing SMS services. Our company currently offers more than 15 IT services and has created 16 software products that are used by banks, financial organisations, and other companies.
The purpose of the establishment of Soft Tech Solutions.
With a focus entirely on timely delivery, approachable, interactive behaviours, transparency business policy, competitive price, and commitment to quality that is not just for today but also for the future, SOFT-TECH Solutions was founded with the intention of providing the most cost-effective and high-quality services.
To support the business goals of our customers by establishing ourselves as an industry leader in the provision of high-quality information technology services and solutions to all clients, regardless of size.
Saumya: What are some of the marketing tactics you provide?
Vijay: Due to maintenance and updating costs, small banks are unable to afford to install every digital platform in their facilities, but SOFT-TECH Solutions does offer cost-effective SaaS (software-as-a-service) based on a variety of fintech software solutions, such as NACH MMS Solutions, Complaint Management System, WhatsApp Banking Bot, Positive Pay System, HRMS, CRM, etc.Additionally, CPaaS (Platform-as-a Service) is a platform that provides communication services, such as SMS, Miscall, IVRS, and Voice, to banks, financial institutions, and other companies. It is simple to connect this platform with these organisations’ current main software systems. As a result, we are promoting to banks our subscription-based SaaS and CPaaS-based goods and services. Our goal is to engage all banks, financial organisations, and other businesses—small, medium-sized, and large—that have not yet gone digital or that want to do so.
Saumya: What are the projective revenues or growth figures in the next 1 year and 5 Years?
Vijay: SOFT-TECH Solutions is a growing fintech and telecom software solution provider. Our main focus is on banks, financial institutions, and other businesses for various IT software and telecom services. To define Growth of any business, there are two things, one is Revenue and secondly is Profitability. Profit is key to basic financial survival of any company whereas Growth is key to profit and long term success. Also, two methods to increase Growth, external with Customer, Partners, Vendors by giving them advanced support/ services and Internal Growth within the team by exploring their incredible interest in new developments and technologies for all sizes of Banking and IT sector. According to me, the analysis of the growth plan reflects on the Operations, Quality of product and Skills of employees.
Soft-Tech is expecting to mop up around Rs.6.20 Cr till the end of next financial year 2023-2024 and goal to achieve in next 5 years
Saumya: How well do your services work for all of your clients? How does it simplify their lives for them?
Vijay: Software as a Service (SaaS) and Communication Platform as a Service (CPaaS) subscription-based offerings from SOFT-TECH Solutions help banks and other financial institutions deliver digital banking services more affordably, improve customer engagement, and increase customer contact.
Our communications platform as a service (CPaaS), which includes SMS, Miscall, IVRS, Voice, and other services, includes a set of safe APIs for straightforward integration with your core software.
SaaS, or software as a service, refers to a cloud-based programme that makes software readily available online. It eliminates the requirement for you to download software onto your computer, enabling it to offer ongoing updates and assistance. On the basis of annual and monthly payments, we offer a variety of SaaS products, including the Complaint Management System, NACH, Mandate Management System, HRMS, and CRM.
Saumya: What is the key differentiator between you and your competitors? Explain in detail your USP?
Vijay: Many competitors who shares a lot of mutual Customer’s, there are many Banks and IT Companies that do uses both of our offerings and often finds that our product makes accomplishing because of the advance design of the products by giving maximum level of automation which helps customer with much easier in their daily transactions customers are happy with our services as we have security certification of every products which has passed with VAPT test and it is renewed in every quarter and our team is always available for 24/7 support and we make sure that customer gets addressed within the SLA period with timely updates on Email and SMS with the help of our Ticketing Tool.
