As businesses move onto the cloud, experts believe that the cost behind implementing such structures can stand as a barrier. In 2023, majority of companies spent about 26%- 50% of their CAPEX on cloud storage, with about 46% of respondents reporting this share of spending, as per insights from Statista, a market research platform. Reportedly, about two percent reported spent less than 10% on cloud storage. Industry experts believe to reduce such high costs, businesses need to provide cost-friendly cloud solutions.
It is further believed that the cost is perhaps one of the biggest deterrent when it comes to businesses opting for it. Reportedly, about 61% of cloud users affirm that cost optimisation is a priority, as per insights from Statista, a market research platform. However, optimising cloud costs takes work. Apart from large companies, startups also need to contribute to this goal of making cloud solutions available to all. In conversation with FE-TransformX, Pallav Agarwal, CEO and founder, HTS Solutions Pvt. Ltd. talks about how startups play a key role in driving cloud adoption. (Edited excerpts)
The company’s revenue from operations increased 7.79% to Rs 2.392 crore in FY23 from Rs 2.219 crore in FY22. What are the reasons behind this rise? Can you attribute this to any product launch?
The 7.79% increase in HTS Solutions’ revenue from operations in FY23 can be attributed to strategic business expansion, increased market demand for our services, and effective client engagement initiatives. While there was a product launch during this period, the overall growth reflects the successful execution of our business strategies and a strong response to market dynamics.
The company posted a net profit of Rs 171.2 crore in FY23, whereas in FY22 the company posted a net loss of Rs 20.353 crore. So, what strategies did you adopt to overcome this loss and be profitable?
In the face of loss in FY22, HTS Solutions navigated challenges by implementing cost optimisation measures besides refining business models and enhancing service offerings with a few subscription models with market technology. These steps, coupled with a focus on client satisfaction and market trends, resulted in a remarkable turn-around, culminating in a profit in FY23. The commitment to adaptability and client-centric solutions has been pivotal in HTS Solutions’ decade-long track record of financial success.
What is your USP when compared with technology giants such as Google and Amazon?
In the realm of cloud computing, HTS Solutions distinguishes itself from bigger platforms such as Google Cloud Platform (GCP), Amazon Web Services (AWS), Microsoft Azure, and many more, through a focus on users’ needs, specialisation, security, and personalised service. Our personalised cloud solutions address specific industry needs, providing a level of customisation that larger platforms might not offer. Emphasising robust cybersecurity measures, we prioritise data protection and privacy, instilling trust in our clients along with affordable pricing. Additionally, our agility and commitment to client success contribute to a responsive and collaborative partnership. By aligning our strengths with the unique requirements of businesses, we have carved a niche which complements the comprehensive offerings of industry leaders, making HTS Solutions a standout choice in the competitive cloud computing landscape.
What are the best-selling tech on your platform and why?
HTS Solutions’ cloud platform excels in delivering top-selling tech solutions such as scalable infrastructure as a service (IaaS) and platform-as-a-service (PaaS), advanced data analytics tools, and comprehensive cybersecurity integrations, among others. The popularity of these offerings stems from their ability to empower businesses with flexible, efficient, and secure cloud computing. IaaS facilitates seamless scalability, data analytics tools enable informed decision-making, and robust cybersecurity ensures data integrity. Clients appreciate the comprehensive and reliable technology stack, making these solutions best-sellers on HTS Solutions’ cloud platform.
Talking from a cost-effective perspective, how affordable are your products? What are the cost structures of your products?
HTS adopts a client-centric approach, tailoring subscription charges based on individual business configurations and requirements. This ensures a cost-effective model where clients pay for the specific services they need. Our transparent cost structures are designed to provide flexibility, allowing businesses to scale their investment according to their growth. For example on average, the platform charges Rs 600, with a s goods and services tax charged on top of it, per month for any of their services. While charges are influenced by factors such as the scale of deployment and additional features, we plan to deliver value contributions to make HTS Solutions more approachable for businesses of all sizes.
Cloud computing can be a complex and quick space. How do you plan to keep up with these, keeping in mind the easy-to-use structures for the users?
In the dynamic and rapidly evolving space of cloud computing, HTS Solutions identifies the need for simplicity amid complexity. We aim to deliver user-friendly structures to ensure a seamless experience. The approach involves continuous refinement of interfaces, intuitive design, and clear documentation. Regular updates are aimed at enhancing user experience while keeping pace with technological advancements. Apart from this we also invest in user education and support, offering resources that empower users to leverage the potential of cloud solutions. By combining agility with accessibility, we aim to make navigating the complexities of cloud computing both efficient and easy to use for our clients.
What are your plans?
We plan to go public through initial public offering (IPO) and expand our services as a platform-as-a-service (PAAS), infrastructure-as-a-service (IAAS) and software-as-a-service (SAAS) platform by 2026. Apart from this, we plan to include disaster recovery solutions at an affordable range. We further aim to onboard graphic processing units (GPUs) to create a school-student-based hosting platform.
