Veeam Software Leveraging Virtualisation in Banking

Ashok Acharya

Veeam Software is working with some of the biggest names in the industry. We are proud that these banks showed faith in our products and we are keeping the faith intact, says Ashok Acharya, Regional Director, India & SAARC, Veeam Software, in conversation with Harshal Yashwant Desai of Elets News Network (ENN).

Kindly apprise us on Veeam Software and its operations in India particularly in BFSI vertical.

Veeam Software is a 10-year-old private organisation headquartered in Switzerland. We have our branches spread across 69 countries. By leveraging virtualisation, storage and cloud technologies, we are helping organisations to save time and meet their various requirements including data backup. We have a very strong business presence in the country as more than 750 customers in the country are already using our products.

In the BFSI sector, we are already working with some of the largest banks including the State Bank of India , ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, South India Bank, etc. Backup is indeed a crucial issue for banking sector, and we are proud that these banks believed in our products and we are keeping the faith intact.

You have collaborated with some of the leading IT vendors as well. Will you elaborate on this?

In the world of technology, if you want to be successful, you need to collaborate with different companies. We work with several partners very closely and make efforts to co-develop backup solutions for our clients. DellEMC, HP, Microsoft, CISCO, etc are some of the organisation we work closely with. We believe in partnership as it strengthens the entire ecosystem to benefit the customers.

What is the market share of Veeam Software in India? How did you expand your operations in the country?

Our market share is in the range of 18 to 20 per cent, and it is increasing every quarter. We have recently been able to acquire new customers in the BFSI domain. At the time when we started our operations, we focused on SME sector, later – we expanded our team and started focusing on acquiring clients in BFSI vertical. Now, we are proud to say that we have a dedicated team that focuses our operations in BFSI vertical. Globally, in the BFSI domain, our market share is about 30 per cent.

Being a new entrant in the market, we could acquire customers at a rapid speed, and we are hopeful that we will soon become a first choice for backup solutions in the BFSI domain.

How crucial is the issue of backup for banks? Please shed some light on this aspect.

Today, the way banks do business has changed completely. People do not go to physical banks for regular banking operations and instead, use their smart phones and other devices for the same. It has become very important for banks to keep their applications up and running all the time.

Any downtime can have a major impact on the reliability and banks simply can’t afford to dent customers’ confidence. Here, availability becomes a major key factor for the technology team of the banks. Issues such as possibility of ransomware attacks have further highlighted the need to have proper backup system within the banks.

Proper data back ultimately help banks to offer excellent experience to their customers. Banks, nowadays, are also hiring data mining experts. The significance of data can be judged with the fact that by 2025, we expect to generate 180 terra byte of data which is huge. About $2.1 trillion is going to be spent on data and data security services.

Tell us about your Availability Platform for the Hybrid Cloud. What are its capabilities?

We do have Availability Platform for Cloud that can help businesses of all sizes to ensure availability for virtual, physical, and cloud-based workloads through the various capabilities including enterprise continuity, cloud data management and compliance and visibility.

How do you rate the competition for Veeam Software in the Indian market?

The competition is tough. We have few companies in India which have been working here and around the globe for the last 20 years. They have significant presence and are already serving customers across industry for long. Veeam, however, has been able to acquire clients at a rapid speed and bring advanced and reliable technology to its partners. This is the reason we have been able to grow remarkably in the presence of several other competitors. Further, we have also ensured that we serve our existing customers in the best possible manner. Thanks to our support team spread across the country.

You majorly focused on offering your backup solutions for virtualisation environment. Isn’t it?

Yes. We started off by offering backup solutions for the virtualisation environment, whereas our competitors focused on both – virtualisation as well as physical environment. We didn’t focus on physical part as about 85 per cent companies today worked in virtual environment and only 15 per cent worked in physical environment. We tied up leading virtualisation vendors and developed strong backup expertise in the domain. Very recently, we have started serving clients in the physical environment as well.

“Veeam Software has been able to acquire clients at a rapid speed and bring advanced and reliable technology to its partners.”

How tough is to get the new customers? What are the typical challenges that you face?

Customers today have become very smart. They don’t care if the solution provider is a 100-year-old organisation or a startup, what they want is a solutions that can meet their requirement to the tee with complete security and safety. And, if they like your product, they will want you to keep the price reasonable. All these elements put pressure on a solutions provider and encourage it to offer solutions which are just perfect. In fact, the increasing customer awareness is helping companies develop stronger and safer products.

How affordable are your solutions for cooperative banks?

Our solutions for cooperative banks are typically small in size and it it mean for those who cannot afford the entire package. We can proudly claim that we are one of the finest backup provider companies worldwide and we are very optimistic about our growth in the country. We are assuming 100 per cent growth by next year.

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