I wanted to focus a bit more on the competitive landscape, primarily comparing CMS and Radiant:
Some rough figures that I put together:
The question I have is whether CMS Info Systems will beat Radiant Cash Management in the long run:
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Technology: CMS Info Systems is clearly leading the technology battle in the cash logistics sector. Its the #1 company in AIoT remote monitoring services and #1 in ATM software solutions. Radiant does not look to be a player in this space, however it is easier for CMS to use this to cross-sell its other services like cash transit for banks.
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DBJ: Radiant is currently expanding into the Diamonds, Bullion and jewelry (Radiant Valuable Logistics) transport services. They can use their existing RCM networks to onboard jewelers who are already their clients. The current largest player covers only around 83 locations, while Radiant already has touchpoints in 6000 locations. Cost will be per gram basis. Expected to contribute to revenue from Q3-Q4. One up on CMS.
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Tier-3 city focus: Radiant is highly focused on the tier-3+ city expansion. 53% of their revenue comes from Tier3+ cities. More than 81% of India’s population is in tier 3+ cities. Here, economy is cash dominated (70%).
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Banking trend: Banks usually don’t give 100% of their cash management to one company. It is split across multiple cash management companies for risk management and to cover more pin codes. Hence this could mean that both Radiant and CMS enjoy a good market share from banks in the coming future.
So what’s Radiant’s value proposition or differentiator against CMS? Looking for thoughts and inputs.
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