Zoho captures UAE’s upmarket segment

Global tech firm records 43% revenue growth in 2023

by

Somshankar Bandyopadhyay

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Hyther Nizam, MEA President at Zoho at Zoholics 2024 Dubai. — Supplied photo
Hyther Nizam, MEA President at Zoho at Zoholics 2024 Dubai. — Supplied photo

Published: Wed 24 Jan 2024, 7:11 PM

Last updated: Sun 28 Jan 2024, 4:58 PM

Zoho, a leading global technology company, on Wednesday announced a revenue growth of 43 per cent and 29 per cent increase in partner network in the UAE in 2023. This growth has been marked by a significant upmarket shift, with an increasing number of mid-and-large enterprises shifting to Zoho’s comprehensive and value-driven solutions.

Last year, Zoho recorded a 24 per cent increase in migration by large corporations. In 2023, UAE became Zoho’s fastest-growing market globally.

“The UAE’s vibrant business scene and its pioneering approach to digital transformation perfectly align with Zoho’s mission to empower enterprises,” said Hyther Nizam, President of Zoho MEA. “We are thrilled to see more leading homegrown companies across diverse sectors leverage our comprehensive solutions to streamline operations, optimise costs, and achieve sustained growth. This fertile ground has allowed Zoho to thrive and contribute to the UAE’s continued digital evolution.”

The expansion towards the enterprise segment has been further bolstered by Zoho’s ongoing strategic partnerships in the UAE as part of its ‘transnational localism’ strategy. Over the years, the company has partnered with leading government entities including Department of Economy and Tourism (DET), International Free Zone Authority (IFZA), and Dubai Culture among others to support the national digitalisation agenda. With a total value of Dh43 million, Zoho’s strategic partnerships have digitally-enabled close to 5,000 UAE small, medium and large corporations.

Zoho continues to provide local support in addition to bespoke offerings to address UAE businesses’ needs. In 2023, Zoho became the first technology provider to introduce corporate tax capabilities in its VAT-compliant accounting software, Zoho Books, to help businesses stay compliant.

Zoho continues to grow its portfolio of system integrators and value-added resellers to provide comprehensive implementation and support services to large corporations.


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