Mantra Softech India Pvt Ltd Acknowledged as a Key HR Software Provider by APPS RUN THE WORLD in the HCM Top 500 Market Report

Mantra Softech India Pvt Ltd Strengths, Domain Expertise, and Key Differentiators

Mantra Softech stands out with its end-to-end biometric portfolio—fingerprint scanners, IRIS sensors, RFID, and POS terminals—rooted in STQC- and FBI-certified R&D. Its 2023-patented optical scanner, using AI-driven coherent gating for liveness detection, exemplifies ML innovation, outperforming multispectral rivals. As India’s first indigenous fingerprint sensor maker, its domain expertise is unmatched, while Cloud integration via AWS ensures scalable deployment.

Mantra Softech India Pvt Ltd Recent Developments

Mantra Softech accelerated innovation in 2024 with the launch of the MORPHS fingerprint scanner, deployed in the Maldives’ national ID system, reinforcing its global presence.

Mantra Softech has been at the forefront of innovation in the biometric technology space. Since 2021, the company has introduced fingerprint scanners compatible with Windows Biometric Framework (WBF) and Windows Hello, enabling seamless biometric log-in experiences. These advancements have garnered significant attention from industry experts and customers alike. The company's revenue growth and profit data indicate a positive trajectory, fueled by its expanding customer base and strong product portfolio.

Mantra Softech India Pvt Ltd Mergers and acquisitions (M&A) Activities

No M&A activities in the last 12 months.

Mantra Softech India Pvt Ltd Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Mantra Softech India Pvt Ltd applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Mantra Softech India Pvt Ltd and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified IRIS, Minopcloud, customers.

Mantra Softech India Pvt Ltd Overview

Ownership: - x

Number of Employees: 350

Functional Market: Absence Management, Workforce Analytics, Workforce Scheduling, Time and Attendance, Core HR, Payroll,

Key Verticals: Banking and Financial Services, Communication, CPG, Education, Government, Healthcare, Manufacturing, Professional Services,

Mantra Softech India Pvt Ltd Key Cloud and HCM Applications

IRIS, Minopcloud,

Mantra Softech India Pvt Ltd HCM and Cloud HCM Applications Revenues, $M:

Type/Year	2023	2024	YoY Growth, %
Total Revenues, $M	Subscribe	Subscribe	Subscribe
HCM Applications Revenues, $M	Subscribe	Subscribe	Subscribe

* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Mantra Softech India Pvt Ltd Revenue Breakdown by Type:

Type	License	Services	Hardware	S&M	SaaS	PaaS	IaaS	Other	Total
% of Total Revenues	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	100%
Revenues, $M	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe	Subscribe

Mantra Softech India Pvt Ltd HCM Applications Revenues By Sub-Functional Markets, $M:

	Split by Sub-Functional Markets	% of HCM Revenue in the HR Segment	2024 HCM Revenues, By HR Segment, $M
Core HR and Performance Management	Benefits Administration	Subscribe	Subscribe
	Compliance	Subscribe	Subscribe
	Core HR and Personnel Management	Subscribe	Subscribe
	Payroll	Subscribe	Subscribe
	Pension Administration	Subscribe	Subscribe
	Compensation Management	Subscribe	Subscribe
	Learning and Development	Subscribe	Subscribe
	Performance and Goal Management	Subscribe	Subscribe
	Succession and Leadership Planning	Subscribe	Subscribe
Talent Acquisition	Applicant Tracking Systems	Subscribe	Subscribe
	Contingent Labor Management	Subscribe	Subscribe
	Candidate Relationship Management	Subscribe	Subscribe
	Onboarding	Subscribe	Subscribe
	Recruiting	Subscribe	Subscribe
	Sourcing	Subscribe	Subscribe
Workforce Management	Absence and Leave Management	Subscribe	Subscribe
	Fatigue Management	Subscribe	Subscribe
	Task Management	Subscribe	Subscribe
	Time and Attendance	Subscribe	Subscribe
	Time Clock (Hardware)	Subscribe	Subscribe
	Workforce Scheduling	Subscribe	Subscribe
	Workforce Analytics	Subscribe	Subscribe

Mantra Softech India Pvt Ltd HCM Applications Revenues By Verticals, $M:

Split by Verticals	% of Total Revenues	2024 HCM Apps Revenues, By Verticals, $M
Aerospace and Defense	Subscribe	Subscribe
Automotive	Subscribe	Subscribe
Banking and Financial Services	Subscribe	Subscribe
Communication	Subscribe	Subscribe
Construction and Real Estate	Subscribe	Subscribe
Consumer Packaged Goods	Subscribe	Subscribe
Distribution	Subscribe	Subscribe
Education	Subscribe	Subscribe
Government	Subscribe	Subscribe
Healthcare	Subscribe	Subscribe
Insurance	Subscribe	Subscribe
Leisure and Hospitality	Subscribe	Subscribe
Life Sciences	Subscribe	Subscribe
Manufacturing	Subscribe	Subscribe
Media	Subscribe	Subscribe
Non Profit	Subscribe	Subscribe
Oil, Gas and Chemicals	Subscribe	Subscribe
Professional Services	Subscribe	Subscribe
Retail	Subscribe	Subscribe
Transportation	Subscribe	Subscribe
Utilites	Subscribe	Subscribe
Total	Subscribe	Subscribe

Mantra Softech India Pvt Ltd Total and HCM Applications Revenues by Region:

Region	% of Total Revenues	2024 Total Revenues, $M	2024 HCM Applications Revenues, $M
Americas	Subscribe	Subscribe	Subscribe
EMEA	Subscribe	Subscribe	Subscribe
APAC	Subscribe	Subscribe	Subscribe
Total	Subscribe	Subscribe	Subscribe

Mantra Softech India Pvt Ltd Direct vs Indirect sales

Type	Direct Sales	Indirect Sales	Total
Type %	Subscribe	Subscribe	Subscribe
Revenues, $M	Subscribe	Subscribe	Subscribe

Mantra Softech India Pvt Ltd Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Mantra Softech India Pvt Ltd Customers

No. of Mantra Softech India Pvt Ltd Customers: 380

No. of Mantra Softech India Pvt Ltd HCM Applications Customers: x

No. of Mantra Softech India Pvt Ltd Cloud HCM Customers: x

No. of Mantra Softech India Pvt Ltd Cloud HCM Subscribers: x

Mantra Softech maintains a varied customer base of over 380 organizations, encompassing government entities and private firms. Key clients include Bank of Maharashtra, Kalupur Commercial Bank, Ahmedabad District Co-Op Bank, and Cadila Healthcare. Its fingerprint sensors play a critical role in monitoring attendance in government schools and streamlining fair price shop operations. While firmly established in India, Mantra Softech is actively growing its clientele across Africa and the Middle East.

Mantra Softech India Pvt Ltd Market Opportunities, M&A and Geo Expansions

Mantra Softech is poised to tap the growing biometric market, fueled by demand for secure authentication. It can leverage Cloud and IoT for smart cities and retail security horizontally, while vertically, Minopcloud’s HR tech targets education authentication and ML-driven facial recognition enhances banking onboarding.

Mantra Softech India Pvt Ltd Risks and Challenges

Mantra Softech’s reliance on government contracts (e.g., Indian schools, Ethiopia NIDP) poses internal risks, as seen during COVID-19 disruptions, threatening 40% of revenue. Externally, NEC and IDEMIA’s global scale challenge pricing, while rapid AI/ML evolution demands hefty R&D—straining its self-funded model.

Mantra Softech India Pvt Ltd Ecosystem, Partners, Resellers and SI

On July 25, 2024, it announced a strategic partnership with TechMag Equipamentos de Informatica Comercio e Servicos Ltda in Sao Paulo, Brazil, marking its entry into South America with advanced biometric offerings.

Mantra Softech predominantly engages in direct sales with channel programs to drive its business growth. In recognition of its excellence, Mantra Softech India has achieved the prestigious status of being a Microsoft-certified Embedded business partner. This partnership has been forged specifically in relation to its groundbreaking Bionic solution, a biometric system incorporating GPRS technology. By aligning with Microsoft, Mantra Softech reinforces its commitment to delivering cutting-edge biometric solutions that seamlessly integrate with industry-leading platforms.

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link:

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