Rsquare Technologies: Trailblazer of Highly Innovative & Functional IT Products

Shanthini Raja, Founder , Chairperson & CEOOften described as the ‘Gateway to the Gulf’, Bahrain currently silhouettes as the regional front runner amidst the burgeoning digital economy. Especially in the bracket of Information Technology(IT) at Bahrain, there lies a huge scope for enterprises and public sectors to heavily invest in terms of software and services. Further, thanks to the increasing oil prices, government initiatives and bulk investments, the IT world of Bahrain is projected to witness an unparalleled growth even in the upcoming years. Perfectly poised across this world is Rsquare Technologies W.L.L., a Manama-based custom software development company that offers robust application development & reliable services. Breathing the tagline Innovative IT Solutions, the company presently operates more like an R&D centre that is engaged in developing a spectrum of innovative products in accordance with the pain points of customers.

The Mastermind
Rsquare is the brainchild of Shanthini Raja (Founder, Chairperson & CEO) who has been living in Bahrain since last 22 years. An MCA graduate and a proud mother of two children, Shanthini was a proactive social worker and a movie maker before plunging into the entrepreneurial world. Back then, she was the President of Indian Ladies Association, wherein she was a part of diverse fund raising events, and also Vice Chairman of The British School PTA Committee. In 2010, when she came back to India to buy a house, she observed that the contents in cheques were being written by hand. This triggered her to come up with a software that can completely automate this tedious process, and that’s how Rsquare came into existence at Bahrain.

Why Shanthini chose Bahrain was that it is an extensively business-friendly country committed to creating an ecosystem brimming with innovation and entrepreneurship. She takes pride in being the former member of the ICT Committee of Bahrain Chamber of Commerce and Women in Fintech Committee, which adds to the kind of support that Bahrain offered to her and her venture. In fact, she clearly aspired to create every single product in Bahrain, be it in terms of logistics, people, skills or any factor involved.
No wonder Rsquare has been receiving huge exposure at Bahrain right from the point of inception, and today relishes an annual turnover of $250,000 despite always being a bootstrapped company. Over time, the company has also overcome the biggest challenges of following up on receivables and levying high prices as compared to its competitors by providing products with quality, agility and customer support par excellence.

Breathing the tagline – innovative it solutions, Rsquare presently operates more like an R&D centre that is engaged in developing a spectrum of innovative products in accordance with the pain points of customers

Highly Innovative, Off-the-Shelf Products
Rsquare’s first product was CompuCheque, a cheque printing/writer software that helps users to print the cheque content, including names, dates, amount in number & words, account payee, and others, in appropriate positions as per the user’s inputs. This software is compatible with all cheques that are preconfigured with Bahrain Banks. The other products in the company’s portfolio are CompuForm, EICR (Easy Interface Card Reader), CIS(Computerized Inspection System), E-Sign, and many more, along with Rsquare ChatBot, the first AI ChatBot in the Kingdom of Bahrain that was launched last year.

Standing tall among Rsquare’s portfolio is EICR, its bestselling product which is a plug & play card reader that requires no integration between the card and itself. All that is required is a mapping between the card and the reader, post which the values automatically get displayed on the user’s screen in a span of just 20 minutes. Shanthini adds, “We are extremely proud to say that EICR is already being deployed by over 400 prestigious clients at Bahrain, while working efficiently even for cards of other countries”.

Entering Uncharted Territories!
Shanthini and her intellectual team of seven at Rsquare are planning to take EICR to other GCC countries as well as India by approaching investors with strong network and influence in the market. This year, they have unveiled a novel product that achieves bank reconciliations through Robotic Process Automation (RPA). It is an astounding fact that not even the IT behemoths like Microsoft, SAP, Oracle and others have come-up with such a unique concept so far. The other benefit from this RPA reconciliation product is that it can detect frauds based on the status of matching matched, unmatched and partially matched.

Even for this product, Rsquare is all geared-up to foray into other markets globally, especially the Indian markets where transaction rates keep surging all the time. On this note, Shanthini is in the lookout for potential resellers who are serious, genuine and insightful about reselling her company’s products. She has already signed agreements with resellers at Kuwait and Saudi Arabia for the same.

For the future, she and her team will be launching a new insurance product that is capable of conducting surveys online, besides a Machine Learning based product for classification of customer data. Shanthini asserts, “Every year, we are striving to develop not only trendy products in the market, but useful for the Bahrain region too. That’s how we came- up with 17 innovative products in the past 10 years”. Her prime goal & mission has always been to mould Rsquare into a biggest IT development center at the Kingdom of Bahrain, while extending its products & services across the globe.