Iris Regtech Solutions Limited · NSE:IRIS
Iris Regtech Solutions — IRIS Business Services — Investor Day (November 2024)
72 slides from Iris Regtech Solutions's investor day presentation, Nov 26, 2024
Slide 1: Exchange cover letter for Investor Day presentation
November 26, 2024 To, BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, 5th Floor, Plot No C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 051 Mumbai 400 001 Scrip Code: 540735 Symbol: IRIS
Slide 2: Investor Day November 2024
Investor Day November 2024 www.irisbusiness.com
Slide 3: Disclaimer
Disclaimer This does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer. No representation or warranty, express
Slide 4: Everybody is going digital
Everybody is going digital MCA NHB EPFO Udyam Nabard ESIC NeGD GST Stock Exchanges Ports Aadhar Income tax RBI ULIP Voters List Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 3
Slide 5: Not without some hiccups
Not without some hiccups Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 4
Slide 6: From document to data
From document to data Paper PDF Data In the analog world The world goes electronic As the world goes digital Transforming regulatory reporting from documents into data can make markets more efficient, empower investors, and improve regulatory oversight while also reducing compliance costs Building T
Slide 7: When CAG made the case for data standards
When CAG made the case for data standards Say Yes to XBRL We advised the Government, under Article 150 of the Constitution of India, that today, the ‘form and manner’ of accounts has to be driven by a data standards approach which is rooted in technology. We need a proper framework and dictionary to
Slide 8: The World Bank recommends XBRL
The World Bank recommends XBRL XBRL plays a role in enhancing the data integrity and credibility of financial report and auditing. It facilitates better and faster access to information; transparency in the whole information supply chain is increased. The stakeholders, including the Government, shoul
Slide 9: Why XBRL
Why XBRL Say Yes to XBRL Source: ftp://ftp.repec.org/opt/ReDIF/RePEc/cbk/journl/vol8no1-2.pdf Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 8
Slide 10: Our business
Our business SupTech RegTech DataTech TaxTech We're entering a new world in which data may be more important than software. Tim O'Reilly Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 9
Slide 11: We are global
We are global 54 Countries 30+ Regulators 6500+ Enterprises Millions of filings Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 10
Slide 12: SupTech Segment
SupTech Segment www.irisbusiness.com
Slide 13: SupTech at a glance
SupTech at a glance Products & Peers Now serving Performance Looking ahead iFile 2.0 to reduce Taxonomy consulting 30 regulators including Revenues (₹ in lakhs) implementation time central banks, business Noah, Taxonomy editor registers, stock exchanges, FY 24 – 4584 iFile, filing platform capital m
Slide 14: SupTech – Supervisory Process
SupTech – Supervisory Process Supervisory technology (SupTech) is the use of innovative technology by supervisory agencies to support supervision. It helps supervisory agencies to digitise reporting and regulatory processes, resulting in more efficient and proactive monitoring of risk and compliance
Slide 15: SupTech – Supervisory Process
SupTech – Supervisory Process Supervisory technology (SupTech) is the use of innovative technology by supervisory agencies to support supervision. It helps supervisory agencies to digitise reporting and regulatory processes, resulting in more efficient and proactive monitoring of risk and compliance
Slide 16: SupTech – Offerings
SupTech – Offerings Consulting & Filing Tools Regulatory Taxonomy (CARBON Filing Platform Development WEBFORMS) (iFILE) Services Consulting and Electronic disclosure Excel and Webforms for development of a platform to help filers to prepare data for taxonomy is the 1st step regulators collect pre sub
Slide 17: SupTech Implementations
SupTech Implementations Business Registries Singapore Malaysia Mauritius Qatar Saudi Arabia South Africa BFSI Regulators India Qatar South Africa Mauritius Jordan Bhutan Nepal Capital Markets India Jordan Kuwait Malaysia Oman Qatar Saudi Arabia UAE Sustainability Taxonomy Special Development Cases G
Slide 18: SupTech – iFILE Journey
SupTech – iFILE Journey Product Evolution iFILE 2.0 Automated data flow CSV/JSON Dynamic forms Onsite supervision Taxonomy Editor SDMX data standard Risk based supervision SaaS offering Digital Signature AI auto-tagging Filing tool Workflows Data analytics Data dissemination Collection platform Valid
Slide 19: SupTech – iFILE Implementation lifecycle
SupTech – iFILE Implementation lifecycle Solution roll-out Implementation Timeframes - Consulting and Taxonomy development Central Bank 12-18 months - Platform implementation - Filing channel configuration - Filing tools integration Capital Market 9-12 months - Data validation engine - Data analytic
Slide 20: SupTech – Target market
SupTech – Target market Source: BIS - FSI Briefs No. 23 – May 2024 50 national authorities in 45 jurisdictions participated in the survey Plan for focus areas Areas of focus for financial authorities Regulatory reporting 1 Regulator Engagement - Outreach campaigns ESG reporting - Enhance networking e
Slide 21: SupTech – Looking ahead
SupTech – Looking ahead iFILE 2.0 Cloud-ready architecture Faster implementation timelines Enhanced scalability and reliability AI enabled automation Invoicing and payments module Upcoming opportunities - Global Inline XBRL adoption for financial statements - Global ESG reporting - Risk bas
Slide 22: RegTech Segment
RegTech Segment www.iriscarbon.com
Slide 23: RegTech at a glance
RegTech at a glance Products & Peers Now serving Performance Looking ahead 6000 + paying customers reporting to Beyond mandates IRIS Carbon for regulatory Revenues (₹ in lakhs) reporting & Disclosure business registries FY 24 – 3832 Management including Capital market regulators ESG FY 23 - 3071 Ene
Slide 24: Our RegTech Solutions
Our RegTech Solutions Advanced digital tools to automate reporting and streamline compliance, ensuring accurate, timely, and data-driven decision-making IRIS CARBON For BFSI Disclosure Platform for financial and non-financial reporting On-Prem Solution for automated machine to machine reporting For
Slide 25: RegTech SaaS Solution for Companies
RegTech SaaS Solution for Companies www.iriscarbon.com
Slide 26: Introduction to IRIS CARBON
Introduction to IRIS CARBON A SaaS cloud solution that helps the Office of the CFO manage • Last mile regulatory/compliance reports (including XBRL/iXBRL) • General external and internal reporting (Disclosure Management) • ESG reporting (targeted at Sustainability reporting) Building Transparency. D
Slide 27: Past to Present
Past to Present www.iriscarbon.com
Slide 28: Our Journey
Our Journey One One Regulator Taxonomy One One Country Format Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 27
Slide 29: Our Journey
Our Journey Multiple Multiple reporting Formats Energy reporting – FERC XBRL Multiple Multiple taxonomies countries InfoCamere, IFRS, UK-GAAP Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 28
Slide 30: Beyond XBRL reporting
Beyond XBRL reporting ESG Disclosure Reporting Management Sustainability Office of CFO Teams Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 29
Slide 31: Present
Present www.iriscarbon.com
Slide 32: What Problem are we Solving?
What Problem are we Solving? Streamline reporting process for the Office of the CFO Documents and Latency and inconsistent data are scattered information Time consuming and No audit trails manual process Prone to Chaos during last-mile human error reporting Building Transparency. Driving Growth. IRIS
Slide 33: Differentiator from competition
Differentiator from competition MS Office 365-Based • Uses MS Word, Excel, and PPT • Requires less user behavior change • Faster implementation time Highest Customer Satisfaction/G2 Gartner • IRIS CARBON has 92% CRR Cost-effective • 92/100 NPS score • License +Services model • No additional cost for
Slide 34: Differentiator from competition
Differentiator from competition IRIS CARBON® is the ONLY MS Office-based financial reporting platform, a market leader in G2/ Gartner with the highest customer ratings while being cost-effective. Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 33
Slide 35: Key SaaS Metrics
Key SaaS Metrics Customer Satisfaction Score (CSAT) - How satisfied customer is Net Promoter Score (NPS) - How likely will a customer recommend us Customer Retention Ration (CRR) – Customers that continue business with us Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 34
Slide 36: Recognition
Recognition Excellent customer ratings CSAT 96/100 NPS 92/100 CRR 92% Ranked #1 consistently for ~20 quarters * XBRLogic is an independent XBRL quality evaluator for filings with the US SEC Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 35
Slide 37: Summary of performance
Summary of performance 35+ Countries 4.9/5 CSAT #1 XBRL Quality Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 36
Slide 38: G2 Grid- Disclosure Management Software
G2 Grid- Disclosure Management Software Workiva Source: G2 site Oracle Hyperion DM SAP https://www.g2.com/categories/di Disclosure Management sclosure- management?utf8=%E2%9C%9 3&selected_view=grid#grid Datatracks IRIS CARBON Certent DM IRIS CARBON® - Lucanet High Performer, Low Market SAI 360 Prese
Slide 39: Marquee Clients
Marquee Clients Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 38
Slide 40: Present to Future: Widening the TAM
Present to Future Widening the TAM www.iriscarbon.com
Slide 41: Global Opportunities
Global Opportunities? Structured Reporting Mandates • Capital markets (SEC, ESEF) • Business registry (HMRC, InfoCamere, CIPC) • State and local government reporting (ACFR - 100,000 Structured state agencies in US) Mandates Disclosure • Energy reporting ( FERC Phase II 3,000 energy companies) Manage
Slide 42: Right to Win
Right to Win www.iriscarbon.com
Slide 43: Why we have the right to win?
Why we have the right to win? Tried and tested Cross Sell to Existing customer base Single code base, scalable architecture Product Agility, AI and automation Multi language & Region support Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 42
Slide 44: Execution of plan
Execution of plan www.iriscarbon.com
Slide 45: Pillars of Execution
Pillars of Execution Org Design/restructure Sales & Marketing Product Rigorous execution • AI & Automation • Process/ Playbooks • Hire A players • Targeted • Single code base • Data driven approach • Functional specialists Segmentation • Rapid version updates • Daily, weekly reviews (ESG) from Big 4
Slide 46: Summary
Summary Large market opportunity SaaS product – Scalable & Sticky Low CAC – Existing Customer Base Revenue – Recurring & Predictable High Growth Potential Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 45
Slide 47: IRIS iDEAL Solution for BFSI
IRIS iDEAL Solution for BFSI www.iriscarbon.com
Slide 48: Introduction
Introduction Complex Reporting Guidelines iDEAL® is a comprehensive Automated Data Handling regulatory reporting software solution designed for financial Data Standardization institutions and businesses in the BFSI sector. Timely Reporting Data Validations Flexible Deployments Building Transparency.
Slide 49: Product Highlights
Product Highlights End-to-End Automation 1 Accurate Reporting Robust Feature Set 7 2 Key Features 3 Built-in Data Validation Informative Dashboards 6 4 5 Rapid Implementation Cross-Report Consistency Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 48
Slide 50: Market Reach & Client Base
Market ProductReach Highlights & Client Base Regulatory Region Client Type Client Count Body Banks, NBFCs, Primary India RBI 106 Dealers Mutual Funds, India SEBI 6 Corporates India FIU Cooperative Banks 22 Mauritius BOM Banks 6 South Africa CODI Banks 5 Europe (Cyprus) EBA Corporates 3 UK BOE Corpor
Slide 51: Business Highlights
Business Highlights Esteemed Clientele: 150+ BFSI Clients. Le a ding the Wa y in Re gulatory Re porting (Ma rke t Sha re in India ) � Banks in India IRIS Share No Client 92% Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 50
Slide 52: TaxTech Segment
TaxTech Segment www.irisgst.com
Slide 53: TaxTech at a glance
TaxTech at a glance Products & Peers Now serving Performance Looking ahead Data driven applications 1500+ clients of IRIS GST Revenues (₹ in lakhs) Software for GST filing 42 customers in Malaysia FY 24 – 1436 Invoice Registry Portal 4.5 lakh users of IRIS FY 23 - 1249 Mobile applications for filing
Slide 54: TaxTech Product Stack
TaxTech Product Stack Core Tax Compliance Beyond Tax Compliance Litigation Management System – LMS (2023) IRISGST India Features – Corporate memory for tracking of notices, AI driven Unified Platform for GST Compliance (2017), E-way Bill (2018) auto case creation, automated calculations for interest
Slide 55: Trusted TaxTech Providers
Trusted TaxTech Providers Authorised GSP since 2017 ` 2021 2022 (GST Suvidha Provider) -- India’s Best Taxtech India’s Best MSME Tech Private IRP Private IRP since 2023 1500+ 5 Mn+ 2,00,000 Company- TIOL Company – Jagran (Invoice Registration Portal) Clients Monthly E- + India’s Best Taxtech Invoice
Slide 56: Emerging Opportunities – India and Global
Emerging Opportunities – India and Global Existing Products New Products • Increase in scope of E-invoice • Direct Tax Compliance mandate in India Expanding • TDS Reconciliation Core Tax • Tighter controls from Govt on Compliance compliance in India • E-invoicing – Singapore (2025), UAE (2026) • Ac
Slide 57: TaxTech: Key Business Drivers
TaxTech : Key Business Drivers Backed by regulatory mandate A High- Progressive outlook of businesses towards compliance Growth Sector AI shaping the next wave of innovation Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 56
Slide 58: AI in Action: Intelligent Legal Assistant
AI in Action : Intelligent Legal Assistant Data Extraction Fetch data from source Get answers and insights Ready for next action Reading from Analysing relevant Collating information Prepare responses unstructured Notices, Laws, Rules, from ERP/other based on all the extracting relevant Notification
Slide 59: DataTech
DataTech www.irisbusiness.com
Slide 60: DataTech at a glance
DataTech at a glance Products & Peers Markets Performance Looking ahead Credixo Data APIs to enable lending Peridot Pilots are being executed Revenues (₹ in lakhs) for one or more of the FY 24 – 99 Writeclick products listed alongside iConnect FY 23 - 86 IRIS Watch Data APIs to help MSMEs find custo
Slide 61: IRIS Watch
IRIS Watch Insights and Workflows for Portfolio Monitoring www.irisbusiness.com
Slide 62: Continuous monitoring is the need
Continuous monitoring is the need Have visibility over business operation and performance Using verifiable and authentic data sources Identify and plug the governance and operational gaps Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 61
Slide 63: Get the pulse of business
Get the pulse of business Statement of income and expenses highlighting margins before direct and indirect expenses (CM1 and CM2 margins) Segmentation of revenue into B2B, B2C, Domestic, Exports, Nil Different Geographies, product mix Quality and spread of customers and vendors Transaction with Rela
Slide 64: Insights based on authentic data sources
Insights based on authentic data sources GST MCA Sales and Purchase and tax liability Company formation and directors details filed through GST Returns details from Business Registry of India i.e. Ministry of Corporate Affairs Bank Statements Bank statements and details of EPFO taxes deducted while
Slide 65: Key features highlights of Watch
Key features highlights of watch The picture can't be displayed. Real-time analytics MIS and Data preparation Data sharing and visibility Insights on demand control by business Configuration of monitoring Customisable dashboard rules by investors Marketplace for investors User access and controls an
Slide 66: Target Segment
Target Segment Persona Scope VC, Fund Houses, Investors Insights and periodic who invest in start-ups and updates on company A unlisted entities performance Investors E-invoice and GST driven Insights Neo- Banks, NBFCs, Fintechs B along with other sources for Lenders decisioning and monitoring CFO d
Slide 67: Financial Highlights
Financial Highlights www.irisbusiness.com
Slide 68: Financial Highlights
Financial Highlights REVENUE EBITDA EBIT PAT (₹ IN LAKHS) (₹ IN LAKHS) (₹ IN LAKHS) (₹ IN LAKHS) 1,136 1,588 879 10,296 7,490 1,093 6,202 622 793 429 269 101 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Building Transparency. Driving Growth. IRIS BUSINESS SERVICES LIMITED 67
Slide 69: Segment Performance
Segment Performance SUPTECH REGTECH TAXTECH DATATECH REVENUE REVENUE REVENUE REVENUE (₹ IN LAKHS) (₹ IN LAKHS) (₹ IN LAKHS) (₹ IN LAKHS) 4,584 3,832 3,071 2,688 2,466 2,311 1,436 1,249 1,042 99 86 67 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA EBITDA EBITDA EBITDA (₹ IN LAKHS)
Slide 70: Revenue Breakdown: Segmental & Geographical
Revenue Breakdown: Segmental & Geographical REVENUE MIX BY SEGMENT REVENUE MIX BY GEOGRAPHY USA DataTech ₹ 657 lakhs TaxTech � ₹ 99 lakhs ₹ 1,436 lakhs Middle East Others Africa 3% ₹ 743 lakhs 6% ₹ 3,084 lakhs 14% SupTech � ₹ 4,584 lakhs Asia-Pacific � ₹ 1,207 lakhs 12% FY2024 FY2024 RegTech 4
Slide 71: Key Ratios
Key Ratios EBITDA Margin EBIT Margin Net profit Margin 15% 11% 9% 15% 13% 8% 6% 4% 2% FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Current ratio Debt Equity ratio ROE 2.02 0.24 21% 1.66 1.47 0.17 14% 0.13 4% FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Building Transparency. Driving Growth. IRIS BUS
Slide 72: IRIS Business Services Limited
IRIS Business Services Limited Tower 2 3rd Floor International Infotech Park Vashi New Mumbai 400703 Maharashtra India
IRIS Business Services — Investor Day (November 2024) on 6ix