Twenty-five years ago, Malayalis were only beginning to explore new technologies. Mobile phones came with incoming calls costing ₹9 and outgoing calls ₹11. Online payments were unheard of, and banks managed their operations manually, maintaining ledgers by hand.
It was during this period that four young men came together in Kozhikode to start an IT company. Their focus was on software solutions for the banking sector. Core banking systems and web-based services were among the first products rolled out by their venture, which took shape as Perfect Software Solutions.
Not many people may recognise the name Perfect Software Solutions, but in Kerala it would be rare to find someone who has not, at some point, used a service powered by them. Based in Kozhikode, the company provides essential software to more than 1,200 financial and non-financial institutions, including co-operative banks.
Its flagship product is Score, a smart core banking software. Alongside this, Perfect offers mobile banking, collection applications, overdue management, net banking and other services that banks require. The emphasis has always been on keeping costs low while making the technology user-friendly.
Perfect Software Solutions Private Limited was founded in 2000 by Biju KC, Biju Isac, Jabin C and Sijin MS. The four had first met while working in the same company after completing their postgraduate studies. Of the group, chief executive officer Jabin C and Biju Isac hail from Kannur, while the others are from Kozhikode. Sadly, Biju KC passed away at an early age. Today, the company is led by Sijin MS as chief technical officer and Biju Isac as chief marketing officer.
Although each founder brought different ideas to the table, their strength lay in taking decisions as one—a quality that has helped Perfect remain “perfect” over the years.
In 2008, the company began providing software for core banking services. By 2012, browser-based services were added to the line-up. At present, the focus is on upgrading products with artificial intelligence to improve customer experience. Staying up to date with technology has been Perfect’s key to success, and this, coupled with strong word-of-mouth from existing clients, has accelerated its growth.
The firm also operates call centres to provide customer support at any time. Its very first client, Ulliyeri Service Bank, remains with the company even after two and a half decades—something the founders cite as evidence of their long-standing service quality.
Perfect Software Solutions has played a major role in transforming Kerala’s cooperative department More than 35% of the State’s primary co-operative banks now rely on its services.
The company caters not only to urban banks and service banks but also to NBFCs, nidhi companies, microfinance institutions, employees’ societies and welfare societies. It has even developed specialised software for labour contract societies.
According to the company’s leaders, continued support from the State’s cooperative department has been a crucial strength in this journey.
Alongside its flagship Score software, Perfect also offers a suite of other products including mScore, BizCore (business correspondent), Score Connect, Empower, Foreman, Muttathemulla, Score Nidhi, Score NBFC and Persuite ERP. In addition to these, the company develops customised applications tailored to the specific needs of clients.
Given the high importance of security in the banking sector, Perfect pays particular attention to this aspect. All its software has been certified by the Indian Computer Emergency Response Team (CERT-In), the national agency authorised to approve and empanel such products.
As part of its silver jubilee, the company has planned a year-long series of events. The aim is to organise tech meets in every district. These gatherings will include awareness programmes on new technologies, GST, and the company’s own products.
At present, the company provides services not only in Kerala but also in Karnataka and Tamil Nadu. It has already made its presence felt in some European countries. As part of its plans to expand internationally, the company is preparing to open a new office in Bengaluru. This step is expected to help extend its services to Gulf countries and Africa as well.
Perfect Software Solutions has also launched Persuite, an enterprise resource planning (ERP) software aimed at automating business processes. From lead generation to preparing the balance sheet, the software allows complete control over operations.
One of its key advantages is accessibility through mobile phones, making it highly convenient for business owners on the move. Introduced two years ago, Persuit is already in use by several organisations in Kerala.
As a service provider, Perfect also offers overseas clients—including companies in European countries—support services such as software modification and maintenance.
Perfect Software Solutions’ corporate office is located at Hilite Business Park in Kozhikode, while its registered office is at Chalappuram in the same city. The company also runs a service branch in Kottarakkara. To deliver its services across Kerala, Perfect has appointed four dealers who cover six districts, while the company itself directly handles the remaining districts.
More than 130 people work at Perfect Software Solutions, many of them with expertise in banking and technology. The leadership credits this team as a key factor in the company’s growth. They also point out that for 25 years, salaries have been paid on the first of every month without fail—even during the lockdown period, when there were no cuts or delays. A number of employees who joined at the company’s inception continue to remain with it to this day.