Iqbal Ahmed

Bangalore-based TechnoSoft Development has launched an accounting and inventory management software targeted at the SME segment. The company has invested Rs 60 lakh till date in developing the product, which is called Transfin. “In India, we have an installed base of 50 for this product. Moving forward, we will foray into Malaysia, Indonesia, Singapore, Nepal and Bangladesh,” says Iqbal Ahmed, CEO, TechnoSoft Development. He adds that the product is being used by over 100 garment export units in Bangladesh, which is set to emerge as one of the largest markets for Transfin. The company aims to sell 2,000 packages in the APAC region, including India.

A team of 15 engineers took over two years for rolling out the product, which is based on RDBMS and runs only on Windows. It also supports a diverse set of application server back-ends like Oracle, SQL and MSAccess. The standalone version is priced at Rs 6,000 while the multiple user version costs Rs 1,000 per user. “We have now graduated from Visual Basic to Microsoft’s .Net. The product is completely Web-enabled and compatible with .Net,” says Ahmed. In order to address the US market, the company is also coming out with a GAAP version of Transfin.

“Prior to embarking on product development, we conducted a survey across 100 companies to understand customer expectations from accounting packages. The results suggested that price, user-friendliness and stability are the most critical features sought by customers. We have inculcated all these in Transfin,” adds Ahmed.