ZOHO Corp’s ManageEngine is focusing on increasing its business in emerging markets such as the Middle East, South East Asia and Latin America to spur growth, as its key western market witnesses demand slowdown. The company is working to improve its presence in these countries along with improving domestic business, which on an aggregate basis has around 45% revenue growth. The places driving growth include UAE, Saudi Arabia, Mexico, Brazil, South Africa, Nigeria, Malaysia, Singapore and Thailand. The developing world is growing faster, these are the areas where growth rates are much higher, said Rajesh Ganesan, President of ManageEngine. He said Manage Engine is opening local offices, improving their presence in these regions with dedicated local teams and partnership.
The US, UK, Europe, Australia and New Zealand, which contribute roughly 70% of its business, are facing a ‘clear slowdown’. However the company said it doesn’t affect its business. Bootstrapped Zoho Corp touched the billion dollar revenue mark in 2022 and ManageEngine also aspires to touch the level in two years.
The company’s challenge comes at a time when IT firms are facing disruption from artificial intelligence.
Shailesh Davey, VP of Engineering at ManageEngine said, “Zoho ManageEngine is working on R&D related to small and medium language models which are specific functions based AI models.” He called them contextual intelligence. Shailesh said anomaly detection, predictive analysis and cyber security are some of the areas where AI could help apart from some of the existing functions like customer support. Enterprise customers are already seeking AIbased applications and AI roadmap to plan their work flow in future, he added.