Hyderabad, December 24, 2018: In a development that underlines its impressive growth trajectory, ONGO Framework, India’s leading IT and digital solutions provider to SMEs and start-ups, grew by 100% during the previous quarter. Among the key drivers behind this was a significant rise in traction from a number of large enterprises, large collaborators, professional bodies, and major cloud infrastructure platforms adopting ONGO’s solutions. Additionally, the company achieved INR 96 lakh in SAAS booked revenues during the quarter and is well on its way to breaking even by the end of March 2019.
In the previous quarter, ONGO saw significant growth in the ticket size of subscriptions for its framework, propelled by increased adoption of its solutions by top-line enterprises and improved Average Revenue Per Use. Whereas in the previous quarter, ONGO has expanded its domain expertise by developing solutions for different verticals in sectors like foodtech, agritech, healthcare, insurtech, and fintech. ONGO Framework undertakes low/no code development of digital and cloud platforms for enterprises across the board, thereby freeing them from the burden of creating IT teams, developing software, and deploying them. Moreover, the solutions and framework developed by ONGO not only require much less capital expenditure as compared to traditional IT solutions but can also be developed and deployed in 90% lesser time.
Rama Kuppa, Founder & CEO, ONGO Framework, said, “The demand for affordable as well as easily and quickly implementable digital enterprise solutions continues to grow steadily across the Indian market, especially among small and medium-sized businesses and start-ups. The global low/no code software market is expected to grow by USD 126,638.0 million by 2025, presenting a massive opportunity for us in the coming years. While our initial focus on SMEs and start-ups has set us apart from other players and aided our growth substantially so far, we have been seeing greater traction from larger enterprises as well, over the past few quarters. This is also one of the major factors that has driven 100% growth for ONGO Framework in the last quarter. One of our prime goals is to aid our channel partners by assisting them with building their marketing capabilities, market presence, and driving sales initiatives through acquisition and partnerships. Our plan is to further leverage these key growth drivers and successful partnerships over the next several months, as well as target newer collaborations and business opportunities to achieve profitability by the next financial year.”
ONGO Framework is a plug-and-play AI-based system delivered over a software-as-a-service (SaaS) model. As it grows with the maturity of AI’s capabilities, it not only helps enterprises, but also channel partners and SMEs to customize the technology based on their specific needs. Being low code in nature, ONGO’s solutions ensure enterprises can achieve digital transformation in a timely and cost-effective manner. Additionally, since they are easily deployable and customizable, these solutions can be upgraded and launched quickly without any hiccups. Moreover, the development teams at ONGO Framework integrate intuitive technologies such as Cognitive Computing, Artificial Intelligence and Machine Learning with industry-specific solutions to create robust, intuitive, and mobile platforms to help enterprises manage and execute a wide range of tasks.
ONGO Framework recently partnered with Alibaba Cloud India to provide various digital transformation services, including development and deployment of cloud-based applications to 1 lakh micro, small and medium enterprises (MSMEs) in India by December 2019. Additionally, ONGO Framework will assist these enterprises in exploring new monetization models and ways to grow their revenues by leveraging various digital marketing and advertisements channels. Furthermore, ONGO is also in the process of soon bringing on board the largest telecom company in the Middle East as its channel partner, a development that is expected to amplify its growth in both the domestic and international market.
