Used Covid Time To Improve On Our Technology, Says Ebixcash’S Robin Raina

The year 2021 has become a turning point for many New Age companies with the strong technology underpinning, which is now also leading to a deluge of proposed public offers.

The COVID-19 pandemic has messed up life, with many industries such as travel and hospitality bearing the brunt of the impact. As companies overcome the challenges, new opportunities have emerged, especially for gamers who have been able to leverage the power of technology to keep serving their customers.

The year 2021 has become a turning point for many New Age companies with the strong technology underpinning, which is now also leading to a deluge of proposed public offers.

One such company is EbixCash, a challenger in various segments of the financial sector, both on the B2C and B2B side. From payment solutions, prepaid cards, currency exchange payments, lending and asset management, EbixCash has pursued an aggressive M&A strategy and is also preparing for an IPO.

Regarding the impact of COVID-19, Robin Raina, President and CEO of EbixCash said, “It has been a difficult time for us and for everyone. Travel and foreign exchange are directly related to COVID and have therefore been severely affected. We had a couple of 1,000 people, 3,000 people plus where we all had the expenses, but we didn’t have the income. So it was that dramatic impact. “

“But I’m pretty proud of what we’ve done while travel and foreign exchange have been hit hard, showing the diversity of our business, and even in a COVID period we kept a head start in the midst of it all,” we continued at Around One To show consistent profitability, we’ve actually shown that our cumulative average growth rate is still over 50 percent. Right now we are well on the way to achieving 100 million EBITDA for EbixCash in 2021. It would have been much better if it hadn’t been for COVID, but you see, it was a good test of our resilience. “

On technology, Raina said, “Technology is the key to everything you put together and we have made many acquisitions in India. Almost 26 acquisitions that put a billion dollars in India. But we’ve been able to centralize all of these operations, integrate them so tightly, and technology has become the linchpin for all of that. So if you can imprint technology in the right way and centralize things in the right way, you can efficiency increase.”

“We are actually also using the COVID period to improve our technology. Come by with things that would make our customers’ lives easier, such as working from home and so on. So I would say that technology was the key to all of our modus operandi in order to grow the company. “

Regarding the future of work from home and the new normal, he said, “In my opinion, the new normal has not yet been discovered. So I’m actually looking forward to getting people back into their offices. I currently have nearly 150 offices in India and most of them are empty. Most of them are 10 percent busy and work from home. I’m really looking forward to getting these people back to this office because how do you differentiate yourself? As a company, you differentiate yourself by impressing your culture in every single employee and not just being able to do it remotely. “

Regarding the recovery, Raina said, “So the last three months have been phenomenal in terms of improvement. I think that since India is vaccinating itself, the turning point for me was that 40 percent of the country got their first vaccination, which in fact has already happened. We’re pretty much at that level now, and it’s a turning point for me. In any economy, 40 percent was a turning point. “

“Today, in travel, there is an increase in domestic traffic, people no longer travel with airlines as often, but they use hotels, cars, etc., as well as buses and trains; Rail travel has increased quite a bit. International travel is still available for quarantine reasons, etc. I assume that this will gradually increase. “

He added, “I have a feeling that by the end of 22 in 2022 we will get back to 80 percent of our levels, we still won’t be at the 100 percent level because there are problems with overseas relationships quarantine, or even if COVID goes away to some extent, countries will still be prudent and make their own rules that will affect visitors. “

“So I expect that by 2023 we will eventually return to what we call normalcy. So I think things are getting better dramatically. I am one of those who feel that we are right at this tipping point . ” now.”

You can find the full interview in the accompanying video …