Confident about our customers being able to derive lot of value: Vishnu R Dusad, Nucleus Software

The quarter has been quite an exciting one says, Vishnu R Dusad, CEO, Nucleus Software. In an interview to ET Now, Dusad says that his company is confident about customers being able to derive a lot of value put of their services. Edited excerpts:

ET Now: Let us talk a little bit about the numbers, given the fact that they are lower than what they have been last quarter. What kind of challenges did you face and what really led to this appointing earnings?

Vishnu R Dusad: Business, which is dependent on the licence sales so it does go and down. Now having said that, otherwise our quarter has been very exciting one where our product world’s first offline peer-to-peer payment solution, PaySe, was given an award by Reserve Bank of India. This is a solution which is going to disrupt payments space in years to come and we are very proud of that.

The other exciting thing that happened in this quarter was our first cloud customer went live and within three months, they were able to derive benefits out of our FinnOne Solution. Substantial number of applications, they were able to process, they were able to reach out to 85 branches all of the country.

In one single day, they were able to book and disburse more than 100 loans, so that was another exciting aspect and the third exciting aspect in this particular quarter was our solution going live. This is a solution where the banks customers or financial institutions customers can apply for loans on their own and within minutes and they can track them also.

So these are some of the exciting developments that took place during the quarter and we are very bullish about our customers being able to derive lot of value and there our customers’ customers also being able to derive huge value from these offerings.

ET Now: Now your EBITDA has been weak as well this time around operationally, is that primarily due to the higher employee costs and margins also have halved sequentially. Are there any more headwinds that are expected in Q2, what I am trying to understand is -- is this kind of margin trajectory going to continue?

Vishnu R Dusad: Coming to the employee cost, let me clarify that last quarter’s employee cost was down because we had over provided for the cost during the last financial year and those costs were not coming through and that is the reason they went down.

But even otherwise, we continue to invest in creating capacity for building world class your property and that is the reason these costs have gone up.

ET Now: What are the kind of deal wins that you have got, what is the pipeline that you are hopeful of converting in the coming months?

Vishnu R Dusad: We signed up with one of the biggest names in Asian banking industry and maybe we can global banking industry for extending our platform for their retail assets for maybe coming two decades at least.

They have been our customers for last almost two decades and our new platform which is FinnOne Neo they have signed up for coming years, so that has been an exciting win for us and the pipeline continues to be strong, so we will see how it converts.