Victory Projects Ltd (VPL) has informed BSE, inter alia, about the new technology being introduced by the Company for which the Company has issued the Press Release.

“Realizing the importance of the IVR and SMS payment gateways and the slice that they could possibly take from the Rs 9600 Crores (Source: Internet and Mobile Association of India [IAMAI] and IMRB) many investors and corporates are making plans to enter the fray. There is already a wave of VC funding aimed at catering to this business with participation from Draper Fisher, NEA IndoUS ventures amongst others. These funds are targeting the SMS payment gateways which is one portion of the expected eCommerce with another larger portion, being the IVR payment gateway still being largely untapped. One of the principal reasons why this market remains pristine is that the underlying technology is expensive translating to an unacceptable commitment for the merchant vendors. This is where TeleCanor service, an arm of Victory Projects Ltd (VPL) wants to stake its claim for a large chunk of the activity. Unlike other aspirants who are deterred to import the technology, VPL owns the international TeleCanor brand of IVR solutions. Even though there are quite a few domestic software companies that make IVR solutions, none of them has ventured into creation of a product that has the hallmarks of an acceptable solution, i.e., VoiceXML compatibility, Text-To-Speech, and Speech Recognition features.

“VPL has a distinct and powerful advantage over others, since its TeleCanor product has gained acceptability over time and is now the public voice interface of some leading public and private enterprises like Coal Mines Provident Fund, South Central Railway, AP Road Transport corporation, Police Welfare society amongst others. Besides MChek, AirTel’s SMS Payment Gateway is in the process of incorporating TeleCanor as an IVR/OBN interface” says Mr. Ram Praturi, VPL’s Managing Director, “This proposed tech-infrastructure can not only acts as a payment gateway but doubles up as an IVR hosting platform for enterprises in need of IVR solutions without committing huge cap-ex budget for CRM. He says that this will revolutionize the CMR space, since an enterprise can subscribe to as many channels as they need for a monthly fees or pay on the basis of their client usage. This solution will relieve the enterprises of the requirement to know IVR technology, since they just have to upload a single VoiceXML configuration file just like a web page in web hosting. IVR hosting platform propagates a 24*7 self service IVR solution for the subscribing enterprising while automatically retrieving data direct from the enterprise database” he adds.

Unlike other startups in this arena, VPL, which is a completely debt-free company, plans to implement this technology-infrastructure project through a mixture of Private Equity and Secured Convertible Debenture. These debentures will be secured on the 82 acre land-bank of the company situated close to an SEZ and the proposed international airport at Vizag of Andhra Pradesh.”