Zoho Cliq takes on Slack and Zoom with new features
Tech company Zoho has announced updates to its communication and collaboration platform, Zoho Cliq, amid a 30% surge in users switching from Slack and Zoom. Since its launch in 2017, Cliq has provided team communication services like instant messaging, audio, and video calls. The platform has experienced a whopping 150% revenue growth in India in 2023 and has expanded fourfold since 2020. Zoho CEO Sridhar Vembu argues that Slack isn't a viable option due to Salesforce's limited AI integration capabilities.
Customizable interface and language support
One standout feature of Zoho Cliq is its customizable interface, which supports various languages such as Hindi, Tamil, and Kannada. Vembu shared that they are working on incorporating many capabilities into the platform, including language customization. This effort aligns with Zoho's dedication to promoting Indian languages and advising the government on implementing language support in software.
New updates: Cliq Rooms and AI functionalities
Zoho has also rolled out new features like Cliq Rooms, an Android TV app that enables users to schedule meetings by connecting to TV audio and video. Additionally, the company introduced AI functions that generate meeting summaries using Zoho's AI assistant, Zia. This AI can also create action items as tasks in Zoho projects and set follow-up reminders and meetings in Cliq.
Zoom's slowdown and staff cuts
Zoom, which experienced a surge in demand during the peak of the COVID-19 pandemic when remote work became prevalent, is now facing a slowdown. The company reportedly reduced its workforce by 15% in February this year to cut costs. On the other hand, Zoho's growth remains resilient despite global economic challenges. Zoho attributes its growth in India to its diverse portfolio of products, including Zoho One, Zoho CX Suite, Zoho People, Zoho Books, and Zoho Workplace.
Zoho's future growth and market potential
In September, Zoho surpassed 100 million users across more than 55 business applications. In FY22, the company exceeded $1 billion in annual recurring revenue, and its net profit rose by 43% YoY, reaching Rs. 2,700 crore. Vembu believes that India has the potential to become Zoho's second-largest market within two to four years and the largest market in a decade.
