The Financial Express

Bangladeshi IT firm to launch virtual office platform

Synesis IT group CEO speaks of his plan to float IPO of the company in next two years

| Updated: April 25, 2021 10:38:42

Bangladeshi IT firm to launch virtual office platform

A Bangladeshi leading IT firm, Synesis IT, is introducing a ‘world class’ virtual office platform named Convay to accommodate as many as 1200 people at a time to meet the need of changing office culture across the world.

The virtual office platform isn't just a video conferencing or meeting place, it has all solutions for an office in the virtual space, the company sources said.

Experts from Bangladesh, Australia and North America have worked more than two years to make the large scale project happen.

"Synesis IT will launch a beta version of Convay in July and full version at the end of this year," Synesis IT group CEO Rupayan Chowdhury told The Financial Express.

Talking from Australia on a virtual platform, he said Convay would not just be another video conferencing or meeting tools.

"It is a next generation office platform in virtual space," he said.

He said Convay would have some fundamental features that would give users a different experience.

"We started with a few important things in mind, they are that there will be about 1200 participants in a video meeting, the audio or sound quality will be immensely of high quality," he said. Users would easily have HD quality web meetings from their PC with very little bandwidth that would be much more affordable for the users, he added.

He said they were using own and high strength security system, de-noising system to cut noise as much as possible in every part of the system.

"We started a project before Covid-19 for video conferencing solutions, remote tools, visual board targeting the remote office solutions," he said.

Studies were indicating that 60 per cent of meetings would be held virtually by 2024 but now it says that 80 per cent meetings will be held virtually by 2022.

"Covid-19 expedited it," he said.

Our target is to provide a complete virtual office solution focusing on productivity in remote office, connecting like real office among colleagues, sharing creativity "as we used a lot of artificial intelligence", he said.

Synesis IT is reputed for providing large-scale government-to-government, government-to-citizen, government-to-business e-governance solutions, advanced enterprise scale software solutions (on mobile, web and cross platforms), call centre and mobile health services.

It has completed around 150 large scale government projects.

Synesis IT implemented some of the largest citizen-centric projects like electronic tax certification number (ETIN), National Equipment Identity Register (NEIR) implemented by BTRC, Central Biometric Verification Monitoring Platform, Bangladesh Safety System for the poorest, public exam result, ekpay, Bangladesh Post Office Automation, etc.

"We work with the projects that directly interact with the country's citizens," he said adding that their slogan is sustainable solutions, empowering people.

"Three of our BUET graduate friends started the journey almost with no capital, now our growth is now 100 per cent every year," he said.

"During 2019-2020 we could have maintained 60 per cent profit growth, we hope this year our growth will be 100 per cent."

"If Covid-19 goes away and the situation returns to normal our growth will be 100 per cent in next two years too," he said.

The CEO said they were now planning to float initial public offering (IPO) within next two years.

"Our net profit was Tk 90 million last year, this year our plan as to earn Tk 150 million in profit," he said.

"We don't have much need for money for now, we will collect Tk 300 million only from IPO," he further said.

Apart from Bangladesh, the company has clients in Singapore, Australia, North America.

Synesis IT specialises in 4 areas, i) e-Governance, ii) e-Health and m-Health, iii) Call Center Solutions, iv) business facilitation through Tender Bazar and v) High quality monitoring, evaluation and research for supporting business and services to population.

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