Banking Technology Solution providers are crucial players in the financial sector, driving innovation and efficiency by developing systems that help banks streamline their operations. Automation Cloud Solutions Pvt. Ltd is a company that stands out in this space, particularly in the cooperative banking sector. Founded in 1999 in Mangalore, Karnataka, as ‘Atheeth Info Tech,’ Automation Cloud Solutions began its journey with ‘Co-Bank,’ a pioneering solution designed to automate cooperative banks. Led by IT visionaries Lokesh Naikap and Jagadeesh Rama, the company has continually evolved to meet the changing demands of the financial industry, particularly in underserved sectors.

From its early days as a partnership firm in 2003 to its incorporation as a private limited company in 2009, Automation Cloud Solutions has grown by focusing on cloud technology. The rebranding in 2019 to its current name highlights its dedication to cloud-driven innovations. Serving 28 districts across Karnataka and one in Kerala, Automation Cloud Solutions offers a broad range of services, including Cloud Backup, Core Banking, Mobile Banking, E-Commerce, and Islamic Banking solutions.

With over 1,700 software installations and more than 5,000 users, Automation Cloud Solutions is a leader in its niche. Its latest offering, ‘Smart Fincore,’ is set to streamline operations for cooperative banks, underscoring the company’s commitment to staying at the forefront of cloud banking technology. Let’s read on.

What are your flagship banking solutions, and what recent technology trends or capabilities have you integrated into them?

At Automation Cloud Solutions Pvt. Ltd, we have always been committed to driving innovation in the co-operative banking sector. Our core banking solution is a reflection of our dedication to modernizing banking processes for co-operative societies. Utilizing Blazer, a cutting-edge technology, we’ve created a solution that is responsive, scalable, and user-friendly, providing a seamless experience for both societies and their members.

Our solution is packed with key features that bridge the gap between technology and banking. For instance, the NEFT/RTGS integration ensures smooth electronic fund transfers, while our mobile applications allow members to manage loans, deposits, and account transactions from their smartphones.

We also offer mobile solutions for loan and deposit collections, enabling field officers to work efficiently on the go.

We’ve integrated an inventory module for easy management of society resources and a pay demand facility to track and manage financial obligations. For agricultural societies, our Mandi Transactions feature simplifies market transactions, supporting the rural economy. Our DCB statements and management dashboard provide real-time insights and comprehensive financial reports to aid decision making.

Additionally, we’ve developed Birse.io, a helpdesk solution designed to streamline complaint management and internal tasks within societies. Our Multi-Tenant System also allows societies to manage multiple business lines within a single application.

At Automation Cloud Solutions, we are constantly evolving, integrating the latest technologies into our offerings. Our solutions are designed to meet today’s needs and are future-proofed to adapt to the ever-changing landscape of co-operative banking, setting new standards in the industry.

Could you share a challenging case study where one of your solutions was instrumental in resolving the issue?

At Automation Cloud Solutions, one of our most challenging and rewarding projects was transforming over 500 Primary Agriculture Co - operative Societies (PACS) from manual accounting systems to fully digitalized operations. These rural societies, traditionally reliant on error-prone manual ledgers, faced difficulties such as human errors in interest calculations, inaccurate financial reporting, and limited access to technology.

Our mission was to streamline their operations through digital solutions, ensuring a smooth transition without disrupting their critical role in rural India's agricultural economy. We began by analyzing each society’s processes, then tailored our core banking solution, powered by Blazer technology, to meet their specific needs.

We replaced manual ledgers with a digital transaction system that automated interest calculations, financial reporting, and inventory management, reducing errors and increasing efficiency. Understanding the challenges of limited computer literacy, we also provided extensive training and support to ensure society members could effectively use the new system.

The transformation was implemented in phases, with close collaboration to ensure accurate data migration and user training. The impact was significant - PACS experienced enhanced financial accuracy, streamlined operations, and better inventory control. This project not only improved operational efficiency but also empowered these societies to embrace further technological advancements, contributing to digital inclusion in rural India.

Our success with PACS highlights our commit -ment to digitalizing rural areas

and reflects our belief in using innovation to drive growth and development.

How is your team built, and what level of expertise do they contribute to the organization?

At Automation Cloud Solutions, building a team of experts has been as crucial as our technological advancements. From the start, we recognized that our success would rely on proactive, creative individuals eager to grow with the company. We invested in both technical and personal development, ensuring a holistic training approach.

A key part of our strategy was sending new hires to live customer sites before assigning any work. This gave them firsthand experience with our software in action and a deeper understanding of client challenges. Many of our developers started in customer support, gaining valuable insights into customer needs before transitioning into development roles. This experience has allowed them to create client-centered solutions.

Our focus on retaining employees for the long term has resulted in a cohesive team aligned with our company’s goals. As our team members grow into seasoned professionals, their dedication and expertise continue to drive our success. Through careful selection, comprehensive training, and a commitment to stability, we have built a team capable of delivering exceptional service and maintaining strong client relationships. This team is key to our ongoing achievements and future growth.

What are the upcoming plans for the next chapter of Automation Cloud Solutions?

As Automation Cloud Solutions nears its 25th anniversary in December 2024, we reflect on our journey from a small software venture to a leading company known for high-quality products. Our upcoming chapter promises even greater growth and innovation. We plan to transition to a public limited company within the next four years, which will help us scale operations, attract investment, and strengthen our market presence.

Innovation remains central to our strategy, with plans to integrate artificial intelligence and business intelligence into our offerings. These advancements will enhance our current solutions and open new growth opportunities. We also aim to expand our workforce from 40 to 400 employees, and increase our revenue from ₹10 crore to ₹100 crore.

Our commitment extends to our employees, with a focus on their growth and well-being. Our 'WINWIN-WIN' philosophy ensures that as we succeed, so do our employees and customers. Looking ahead, we are dedicated to making a significant impact in the software industry through innovation, dedication, and growth. With a clear vision for the future, we are excited about the transformative changes and successes that lie ahead.