In less than a year of its launch, Truecaller for Business, an enterprise offering by the company has onboarded 1,000 clients, most of which are Indian companies. As the new offering is fast becoming an important revenue stream for the business globally, the company is developing India-first solutions to deploy in to other markets, Rishit Jhunjhunwala, Chief Product Officer & Managing Director, Truecaller India told BusinessLine.
“As a business when you make calls to your customers, they’ll see it’s the business calling. All the food delivery, cab services, banks and edtech companies are verified on Truecaller. It prevents impersonation scams. We have onboarded 1,000 clients in less a year of starting the solution,” he said.
Hitherto known for its consumer application, Truecaller’s enterprise solution is aimed at protecting the business’ brand from getting impacted by impersonation and fraud while as customers start picking up the calls more often, it will also bring in call centre efficiency, reducing costs on the customer support front.
According to its Q4 earnings report, key customers onboarded for this solution in Q4 alone include a number of leading brands such as Zomato, TVS Motors, Ola, Digit and Matrimony.com, and a major bank in South Africa.
To expand on its existing offerings, Truecaller has been partnering with several Indian companies with deep expertise and strong client portfolio such as Gupshup in the conversation AI space. With this, the company will be strengthening its technology in the messaging space as well.
“On both the spaces (call and messaging), we have a suite of offerings for verified business. For instance, businesses can now not only say who is calling but also why they are calling (to the customer). If a Swiggy calls you, they can say that there’s a problem with your order, and you will pick up the call,” Jhunjhunwala said.
He added, “We will continue evolving the product on both calling and messaging side to help businesses communicate with their customers better. We believe that partnerships is the right way to go because some of them are really entrenched in the Indian space and we are a great add-on to their offering.”
The offering will also provide additional features like signals back from consumers to businesses so that businesses can work more efficiently. “One of the things we are working on is how a consumer can tell a business that he or she is in a meeting but after half an hour they would be available to take the call.”
In the consumer space, out of its 301.2 million monthly active users globally, 221.5 million are in India. India accounted for over 72 per cent of the company’s total revenue in Q4. Speaking about its foray into the B2B segment, Jhunjhunwala said, “We started this offering in early 2021, which is basically a verified business caller ID. We actually verify that this is the real number of a real business calling. We will do the actual KYC and seek documents to confirm that the business actually own those numbers. We will set your actual names and logos against the numbers.”
Made in India
Having its largest team in India, many of Truecaller’s services and products have been innovated and developed in India.
“One of them is our entire Smart Messaging offering. In India, very important information that comes as an SMS including every transaction you make, bill reminders, OTPs to name a few get lost in clutter of spam messages. Our offering summarises the entire content of the message in a glanceable format. If it’s 140 characters of message is received, then somewhere the amount of a transaction or an OTP will be there down below. We made a summarised notification of the SMS.”
The product also categorises messages as transactions, bill reminders, travel related etc. in the message inbox. Products like this have now been deployed in countries like Nigeria, Kenya, Egypt, South Africa, and Latin America, Truecaller’s other key markets.