Industrial Automation Magazine India

Droom SaaS Platform for automobile E commerce platform achieves rapid growth

Published on : Tuesday 03-09-2024

Droom Cloud Services (DCS) secures 25+ enterprise clients and 500+ SMEs in less than a year of launch.

New Delhi, September 02, 2024 – Droom, the 21st-century tech and AI-driven automobile E-Commerce platform revolutionising the Indian automobile market, has announced crossing 25 large enterprises and 500+ SMEs for Droom's SaaS platform for automobile, Droom Cloud Services (DCS) in less than a year of launch including Moto Business Service India Pvt Ltd (MBSI) – a subsidiary of Japan's Yamaha Motor Company, TVS Motors, TVS Credit, Bajaj Auto, IDFC Bank, Jana Small Finance Bank and Zoomcar.

The used automobile market in India, dominated by unorganized players, faces significant challenges such as information asymmetry, moral hazard, lack of transparency, and inconsistent service standards. Droom Cloud Services (DCS) offers a robust solution to these issues, providing standardized, reliable, and data-driven services that benefit OEMs, banks, NBFCs, insurance companies, fleets and many more.

Droom Cloud Service (DCS) is the SaaS platform from Droom that offers various technology solutions for automobile verticals to OEMs, Banks, NBFCs, Insurance, Fleets, Repos, Auctions, Dealers, Corp and Govt. DCS offers SaaS services to large enterprises and SMEs.  Currently, DCS platform offers the following solutions: Automobile Certification Solutions (ACS), E-Commerce Solutions (ES) and Payment Solutions (PS).

Droom Cloud Services' Automobile Certification Solution (ACS)  has suite of services—Pricing as a Service (PaaS) powered by Orange Book Value (OBV), a Droom's AI-driven algorithmic pricing engine - trusted by 783 million people and 23,000+ auto dealers, Inspection as a Service (IaaS) enabled by Droom's proprietary Eco inspection app, IoT device, and AI based self-inspection service, employs over 16,500 certified technicians across 1,200 cities, and History as a Service (HaaS), Droom's history services, provides the most extensive national repository of vehicle records, covering over 200 million registered vehicles in India —has rapidly gained traction among enterprises and dealers in the automotive market to equip them with advanced and innovative cloud solutions.  Droom Cloud Services' E-Commerce Solutions (ES) is powered by a product named goDigital and includes E-Commerce site, app and E-Commerce managed services for OEMs and other brands within the automotive industry.  Droom Cloud Services' Payment Solutions (PS) is powered by the product Droom Pay and offers digital payment, analog payment and value-added payment services for the automobile vertical. Droom has also built many innovative capacities including Booking Amount and Escrow payment.

"Leveraging its tech and product DNA, Droom has invested the last one decade building multiple AI and tech driven products to solve the real and unaddressed problems of the automobile sector. We are very excited that some of the largest OEMs, banks, insurance companies and other enterprises in the automobile sector are finding our products useful for their businesses and critical decision making. We will continue to add more products, solutions and services in Droom Cloud Services and will keep on improving and enhancing existing product portfolio," said Sandeep Aggarwal, Founder & CEO of Droom. 

As the market for used cars and bikes continues to grow at a CAGR of 15-20%, Droom is poised to expand its services and market reach. With Droom Cloud Services, the company aims to further penetrate the automotive ecosystem, driving innovation and setting new benchmarks for the industry. 

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