It is therefore not a surprise that by 2010, next wave was starting to gather steam. Having tried outsourcing and built software captives, true software techno-entrepreneurs were starting to look at a new challenge. This time, it was nothing less than the holy-grail of any company calling itself a technology company - the product R&D.
Today, more than 1000 software product start-ups are trying their luck in India that are looking to leverage software in their core offering. Indian software product companies like Quick Heal, Tally, Fusion Charts and KamatSoft have made their mark with their products and productized services, each in their own way!
Quick Heal was essentially a customer focused PC maintenance services company, when its owner Kailash Katkar realized that the customer PCs needed more maintenance due to growing spread of viruses from internet. Quick Heal's story could have been legendary just on how Kailash saw an opportunity for an Indian made anti-virus software, given the high cost of imported Symantec and Norton offerings at that time, and that his brother Sanjay developed not only the initial versions of their anti-virus but also the innovation that followed, and it became a huge success. But it is their decision to go head-to-head with global giants, get them to reduce price in India and then Quick Heal to start moving on to their global competitors' backyard, is what seals its leadership place in this third wave of Indian Software Revolution.
Tally has grown from an accounting package for SME's to a complete business software for all types and sizes of businesses. Today, the company providing innovative and easy to use business solutions to more than 20,00,000 businesses across 94 countries. Pallav Nadhani's Fuision Chart is a story still in making in that the wonder kid's charts for grown-ups continues to grow their share of the market segment worldwide. Girish Kamat’s KamatSoft focused on providing enterprise software with some serious fire power of mathematical optimization for solving the challenges of local industries– optimizing manufacturing supply chain using mixed integer based optimization algorithms for customers like Reliance Industries and Titan Laboratories. These early examples deemonstrate that Indian Software Product makers are capable to build some of the most technically complex software for local customers and then take them global.
With the experience of outsourcing, knowledge from the captives, Indian Software Industry is getting its the third wind, propelling it into this third wave- Indian Software Product Companies with product R&D done in their backyard. If Bill’s Microsoft was disruptive to brick and mortar global giants, Kailash’s Quick Heal and Bharat’s Tally are providing a preview of how Indian Software Product wave is about to disrupt the world again. Get ready for the software products and productized services from India!