Zoho Takes the UAE’s Upmarket Segment by Storm, Achieving a Remarkable 43% Revenue Growth in 2023

Zoho, a prominent global technology company, has reported impressive growth in the UAE, with a 43% increase in revenue and a 29% expansion of its partner network in 2023. This growth is marked by a notable upmarket shift, as more mid-and-large enterprises are opting for Zoho's comprehensive and value-driven solutions.

This growth has been fueled by the adoption of various Zoho products, including Zoho One, Zoho Books, Zoho CRM Plus, Zoho Creator, Zoho Workplace, and Zoho People. These solutions cover a wide spectrum of business requirements, from unified platforms to accounting software, customer experience platforms, low-code platforms, enterprise collaboration platforms, and human resource management software.

Notable UAE-based organizations, including Al Rostmani Group, Al Shirawi, IFFCO, CAFU, Masafi, Consulate General of India-Dubai, Sharaf DG, MAF Carrefour, and Jashanmal, have embraced Zoho's offerings, contributing to the company's substantial growth in the region.

While Zoho has traditionally dominated the small and medium-sized business (SMB) sector with its user-friendly and affordable solutions, it is now witnessing increased adoption among prominent UAE-based organizations. Notable clients include Al Rostmani Group, Al Shirawi, IFFCO, CAFU, Masafi, Consulate General of India-Dubai, Sharaf DG, MAF Carrefour, and Jashanmal.

The upmarket momentum is exemplified by a 24% increase in migration by large corporations recorded by Zoho last year. This shift is driven by the adoption of various Zoho products, such as Zoho One (a unified platform with over 50 products), Zoho Books (VAT-compliant accounting software), Zoho CRM Plus (customer experience platform), Zoho Creator (low-code platform), Zoho Workplace (enterprise collaboration platform), and Zoho People (human resource management software). In 2023, the UAE emerged as Zoho's fastest-growing market globally.

Hyther Nizam, President of Zoho MEA, stated, “The UAE’s vibrant business scene and its pioneering approach to digital transformation perfectly align with Zoho’s mission to empower enterprises. We are thrilled to see more leading homegrown companies across diverse sectors leverage our comprehensive solutions to streamline operations, optimize costs, and achieve sustained growth."

Zoho's expansion into the enterprise segment is reinforced by strategic partnerships as part of its 'transnational localism' strategy. Collaborations with government entities, including the Department of Economy and Tourism (DET), International Free Zone Authority (IFZA), and Dubai Culture, have supported the national digitalization agenda. Zoho's strategic partnerships, valued at AED 43 million, have digitally enabled nearly 5000 UAE small, medium, and large corporations.

To cater to local needs, Zoho introduced corporate tax capabilities in its VAT-compliant accounting software, Zoho Books, in 2023. It also launched a Zoho Payroll edition for the country and expanded its regional payment gateway offerings through integration with Telr, a leading payment gateway provider in MENA.

Zoho remains committed to providing local support and has expanded its network of system integrators and value-added resellers to offer comprehensive implementation and support services to large corporations. The announcement was made during Zoholics Dubai 2024, the company's annual user conference held at the Atlantis Hotel in Dubai.