Exploring new geographies, spreading IT awareness, and building a market, where there is none, have been the core strengths of Cybertech Software & Multimedia (CSM) Technologies.
“Many governments in different states are still living in the Stone Age in terms of IT adoption. Once we educate them, they become our clients,” says Priyadarshi Nanu Pany, president and CEO, CSM Technologies.
The Bhubaneswar-based company primarily focuses on e-Governance projects and tries to capture the unexplored markets of India and Africa. An e-Governance project, e-Shishu, executed by CSM for the Orissa government, also won it the Prime Minister’s award for excellence in public administration.
Initially, it was difficult for CSM to compete against the established players and thus, it focused on the relatively easier tier-II markets. “We saw an opportunity in e-Governance projects, something the tier-I players don’t readily undertake,” says Nanu.
Another turning point for the company was its entry into the domain of mining regulation systems in 2011. “CSM is one of the best in the business as far as mining regulation systems is considered,” says Nanu.
CSM has repeatedly entered under-developed IT markets, spread awareness about the need for IT, and then built a client base over it. “The strategy of penetrating difficult geographies, both in terms of accessibility and actually executing projects, has been helping the company to grow steadily,” says Nanu.
However, one of the company’s major challenges is retaining people. The geographies in which the company operates are not very developed. The sales cycles are very long and it takes almost a year to close a deal, all of which discourage people to stick around, Nanu says.
But, despite that, Nanu is confident of the company’s success. “We adopted a radical thought process and innovated on existing set of practices to make CSM a brand name,” he says.
Currently, CSM Technologies is opening two new wings—one to exclusively handle its products line, and another to collect developmental or impact funds. “With these, we are expecting investments up to $10 million (about Rs 60 crore) which will further the company’s growth model,” says Nanu.