Feyzi Fatehi: We were recognized by the Gartner group as a cool vendor for PaaS. We are one of those stacks specifically designed to transform software to Software-as-a-Service. Those are the capabilities that may take years to build given all the capabilities and stacks that are available.
A good example is Mifos. This is a solution that was funded by IBM and GM about 12 years ago. It was based on Muhammad Yunus’ microfinance idea. He was an economist who won the Nobel Peace Prize. The software was developed using the latest technology.
Microsoft Foundation joined, then HP and Cisco joined. They created the most fascinating open-source core banking solution. One of the main causes of extreme poverty in the world is the lack of access to healthcare and banking.
Sramana Mitra: I know a lot about microfinance. The inspiration of One Million by One Million was Muhammad Yunis’ work. I am from Calcutta and Muhammad Yunis is from Bangladesh. What I’m looking for is the positioning of your Platform-as-a-Service.
Feyzi Fatehi: We are the only Platform-as-a-Service that is specialized on SaaS and not just on software development.
Sramana Mitra: That doesn’t make any sense. All the Platforms-as-a-Service are specialized on SaaS. Whether it’s Salesforce, Azure, AWS, Oracle Cloud, they are all Platforms-as-a-Service vendors specializing on SaaS. What’s the distinction that you’re making?
Feyzi Fatehi: I’m sorry about confusing you by bringing up microfinance. I was explaining it to the audience. There are about three billion people in the world who are either unbanked or underbanked. This solution funded by IBM, VMWare, and Microsoft was designed as an open source project to give access to the three billion people in the world.
For 12 years, they tried to make it SaaS, but they couldn’t. This Christmas, their CEO called me. Within three weeks, we SaaS-enabled Mifos. It was hosted. There were about 30 to 40 companies in the world. They were offering it as a hosted solution but not as a solution like Salesforce.com where it can be hosted in one place and given to everybody in the world.
This is an example of making the point that if that technology was available with the support of all of these number one technology companies in the world, they wouldn’t have waited for 12 years. It’s one of the misnomers of the industry; transforming a software to SaaS is a piece of cake and is the same as building a software.
That’s why AWS had an eight-city tour exclusively with Corent last year. It started in Austin and ended in Irvine, California and introduced AWS customers to a brand new revolutionary technology. That is Corent software-defined SaaS. That is a registered trademark.
When you want to turn a software into SaaS, you define your software. Do you want multi-tenant or single-tenant? Do you want it based on dynamic pricing or static pricing? What kind of subscriptions do you want to have? What kind of administration rights do you want to give to every single customer? How can every single subscriber manage their own?
All those capabilities that you need to build in addition to the functions of your software would be wrapped around your solution and your solution will be available as a fully-instrumented, scalable, cost-effective SaaS within a matter of hours or days without a single line of code.