www.insightssuccess.in October 2018
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EXPERT’S DESK
VIRTUAL CFO: A NEW ERA OF SERVICE SOLUTIONS
K. Krishna Kumar Founder & Director
EDITOR’S PERSPECTIVE Leverage of Technology in Banking and FinTech
AVON SOLUTIONS & LOGISTICS
Rehashing Mail Management Services with Avant-Garde Solutions
Editorial
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hile the whole world of business is running to be the best, the success of any company depends on the services to help the customers. The fact is not new, but still, it is never a stale deal.
The importance of the term ‘customer’ is even more excruciating for the entrepreneurs who yet to make their mark and secure their places among the ‘big fishes’. So, it is not just a matter of importance but the ‘necessity’ to thrive to be the best in services. It has always been said that it is very important to connect with the customers and to create a bond. This connection can be improved by the increased visibility and multidimensional services from the brand.
Service Business Going Multidimensional: Where Does India Stand?
A number of brands are approaching towards multidimensional services as it is both convenient and easier to increase the brand value and at the same time a great way to expand rapidly. Amazon, Uber are all going to that zone where these cannot be claimed to be as one dimensional. Amazon from E-commerce has turned to online streaming and Uber the cab service has added food services as well. Currently, Uber Eats covers a little over 50% of the US population, delivering food for estimated 100,000 restaurants and the ambitious effort is to reach 70% of the US population by the end of 2018. While Amazon Prime started as a two-day shipping membership for the devoted Amazon shoppers. It didn’t add any additional benefits till 2011. But since then Prime has grown as a Subscription service with 100 million paid users worldwide. The examples are slowly increasing with time. India is not raw with the concept of multidimensional services from the brands perspective, as names like Reliance, Ola are being very prominent. Though, it is difficult to fathom what actually works and what fails to click, as the sentiment and the demand are different for every brand and their customers. But when there are numbers of competitors running to provide excellent services, what matters most is the ‘futuristic vision’ in service offerings. Establishing a brand is definitely not an easy task and hence it requires a lot of efforts, intelligence and great understanding of human psychology and the knowledge of their expectations at the same time. To make the effort visible, it is important to relate brand with its customers to some level, and there lies the success of companies and their customer satisfying agenda.
Nibedita Chanda Nibedita Chanda
Editor-in-Chief Pooja M. Bansal Senior Editor Shraddha Deshpande Managing Editor Rajarshi Chatterjee Executive Editor Nibedita Chanda Contributors Apurva, Datta, Urvasi
Art & Design Director Amol Kamble Co-designer Asha Bange Picture Editor Alex Noel Art Editor Savita, Sapana, Deepanjali Visualiser Shweta Shinde Business Development Manager Akansha Garewal Marketing Manager Dhruv Apte Business Development Executives Rutuja, Shraddha, joan Research Analyst David Circulation Manager Vivek Bangade Database Management Prashant Chevale Technology Consultant Swapnil Patil sales@insightssuccess.com
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Cover Story 08 AVON SOLUTIONS & LOGISTICS Rehashing Mail Management Services with Avant-Garde Solutions
CXO
Articles 32 EXPERT’S DESK VIRTUAL CFO: A NEW ERA OF SERVICE SOLUTIONS
42 EXPERT’S VIEWPOINT PEOPLE BEFORE PROFIT
22 EDITOR’S INSIGHT Law Services: The Technological Boom Inuencing its Futuristic Importance
36 EDITOR’S PERSPECTIVE Leverage of Technology in Banking and FinTech
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QACS GROUP
SOFTWARE@WORK
An Emerging System Certiď€ cations Provider with World Class Services
A Real Gem in the Field of Business Software
SUSHANTH IT LAW ASSOCIATES Encapsulating Technology to Legal Practice
INTERVIEW
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EXCEL PLACEMENT SERVICES
ARSYM
Rehashing Manpower Management
An Abode of Futuristic Development for Kids
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Services: Makes a-company ‘The Brand’ ’
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teal the Deal’ is the motto of all the companies who aspires to be the best in the business. But the ‘deal’ should be ‘steal-worthy’ as well! That is why the well acknowledged idea is, the entire world of business evolution stands on the point of Customer gratification.
The services of the companies do not mandatorily have to be in public dealing only. There are numbers of brands which sell their services not to the public directly but provide services to other companies to follow the B2B format. While direct customer services are a part of the B2C model. The factors of better services of B2B and B2C are different to satisfy the customers. This is the reason it is said that, ‘any business which is not directly into services, are indirectly into it’. A brand can be in its optimum level of services only by understanding the client’s needs and fulfilling them in the easiest manner. This month, Insights Success has come up with a very contemporary topic and has dealt under the issue of “The 10 Most Essential Business Services Provider in 2018”. Here we have focused on the different business portfolios with unique service solutions, and Avon Solutions & Logistics has grabbed our attention most to put it as the Cover story of this magazine. This brand is one of the best when comes to the mail management services. We have also focused on different companies those have come up with unique solutions. Software@Work is one of the brands that is successfully running the tally and taxation solution to their clients for more than two decades. They have upgraded themselves with Microsoft Dynamics NAV and Goldmine- A CRM software and are currently into SAP Business as well. ISO certification services along with testing services for chemical and biological testing has been refurbished with the constant quality services of QACS Group, for the best system and product certification. Sushanth IT Law Associates have their profanity in Cyber Law and Information Technology Legal solutions. The team of the SITL is more conscious to deal with any legal issues of their clients. The ‘Interview with Insights Success’ section comprises the interview with Rajeet Singh Bagga who gave us glimpses of his manpower solutions with his Excel Placement Solutions. Manmeet Nayyar is another personality who has shared his insights on his brand Arsym and his target to fulfill ‘kid-centric’ solution. This magazine also includes leaders’ thoughts as well. Diya Malani is the Founder of Arteez Hr discusses on the importance of ‘People before Profit’ and Kaushal Kumar Lata highlights on the apparently uncommon solutions on Virtual CFO and its futuristic possibilities. The editor’s thoughts are also a part of this magazine where they have researched on contemporary topics like Futuristic Law Services and Banking and FinTech to get the ultimate service solutions. So have a look at the magazine and get the Insights of the essential business service solutions!
K. Krishna Kumar Founder & Director
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AVON SOLUTIONS & LOGISTICS Rehashing Mail Management Services with Avant-Garde Solutions
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We have been able to offer most of our clients 10 to 15% savings in their outgoing mailing costs due to our superior solutions, industry expertise, and best practices adoption
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unning a mailroom is one of the integral parts of any business venture and it has become important in enhancing the efficiency of any reputed organization. Different solution services are working to make its mark, but Avon Solutions & Logistics is one of those prestigious companies which have special arrangements for the free-flowing and undisrupted mail management services and has touched the zenith. There are different silos of mail management for specific needs of dispatch or distribution of packages and the brand takes care of that department in the most prolific manner and works as a one-stop solution. The services are held in such a manner wherein the client doesn’t need to have multiple service providers for their work done, giving them the ultimate cost and time benefits. With the outright commitment of the employees, an unrelenting service attitude of the team, and the zeal to succeed, Avon Solutions & Logistics is excelling every challenge and is marching with a smile to set milestones. The Mastermind of Avon Solutions
corporate world seeking a sweeping transformation in their mailroom management & services and marching with ultimate proficiency. KK expresses the reason behind his success, “The fulcrum for Avon’s growth has always been the commitment of our people to the customers and the trust in the organization. Our core policies have been consistently customer oriented. Personnel has grown along with the organization with a thorough experience of the product and services.” Ascending the Graphs of Progress
The company Avon Solutions & Logistics started initially as an Intra-city document player in Chennai and Mumbai as a proprietary firm, currently has its headquarter in Chennai. With continuous effort, the brand eventually up scaled itself to Mailroom Management Service brand in 1998 when the mushrooming growth of IT/ITES in the country was at its The strength of the peak. The brand is sustaining the successes organically, and it is company had always also riding ahead along with the been to customize opportunities across BFSI. With a consistent record of the services and growth and returns, it has established its value over the initiate new product or years while specializing in the niche segments. These eventually service development led the company being the premier and premium players in the immensely competitive sector.
K. Krishna Kumar profoundly known as KK is the Founder and Director of Avon Solutions & Logistics. This man has great knowledge in his field of business and along with it has a wide range of job experience in the public sector as well as private brands. Being part of the courier/logistics industry since 1985, he held the position of Senior Sales Management profile in leading distribution logistics companies prior to starting his own venture Avon Solutions & Logistics.
A self- styled, innovative entrepreneur, KK is influenced by “Be on my Own” mantra while started the venture during early 1998, with the little savings of him. But the initiation was not that easy like in the stories and movies, and the journey was tough during its budding days. But it was those days which worked on his behalf only to flourish the company later as one of the leading logistic brands of India. Avon, understand the unique needs and demands of today’s
KK reminiscent “it all started with 4 employees and built a base of 300 employees within a span of less than 4 years; currently has more than 1000 employees.” Without any propaganda, the brand cherishes its true success witnessing the long queue of clients and service relationships with them. The average contractual service period for customers with the company has mostly been more than five years. These are the truest testimonies to the growth and operating principles of Avon. Catering the Client’s Needs The motto of Avon Solutions & Logistics has always been the unique and ultimate service, and from the initial days it
believed in the policy of “Plus one”. It has been the fundamental mantra of KK to keep the company growth consistent and uprising. The last mile of the express industry is delivering packages to a large clientele. Integrated Mail Management Solutions is a logical extension of a mail distribution set up, while the last part of the process is the delivery of a package by the courier. The process and service integration is the last part of the service and it starts from that point of activity of the delivery process that caters to the client needs. As it eventually influences the client, the specific service needs the logistic solution. KK adds, “Our model of an integrated approach further establishes the fact that our systems & services seamlessly interact with our clients, as an extended arm, giving us the edge of a preferred service partner.”
Some of the personals, who have been the founding member of the company, today are heading key positions in the company by sheer dedication and learning attitude. Internally the company has also inducted a team of professionals from the logistics industry to further standardize, stabilize and take forward the growth prospects, maintaining the organic growth had sustenance. The challenge was the satiation to hunger for growth. The company came with new products and services to further initiate to compliment on the same mail management domain which helped it to grow more organically. KK believed “The strength had always been to customize the services and initiate new product or service development.” A Specialized Strategy
Avon’s specialization has been in the field of “Post last mile delivery”. With the advancement in E-Commerce and the enhanced Some of the significant necessity of it has become part of contributions have been to deliver the daily commotion for the services through process and Avon offers systems right from the initial fulfillment of the delivery service. There is a great days of FoxPro platform. It is integrated solutions potential in this sector and the continuous designing and encompassing developing of proprietary tools harnessing this opportunity can that enabled Avon to standout be too beneficial for logistic people, process and be a significant player in services. Every E-Com and the domain. The proprietary Logistic company in India has and technology service tools are developed as a got only one agenda and it is to customized requirement for the increase the productivity. Thereby customers. Some of it has been reducing the cost can turn out to be developed for deployment much ahead one of the best ways to keep it up with of its time to establish service efficiency the business model. Now there is no better way to do it than to work along with and brand image. Mailroom Management Companies like Avon Solutions & Logistics because it is already part of the Major Sustenance through Core Support Corporates. The company believes “Mailroom solutions is not just the There are some challenges too and COD (cash on delivery) art of handling inbound and outbound mails, documents is undoubtedly the next big challenge for E-Com and and parcels, but it’s beyond.” Logistic companies. If the E-Com and Logistic companies desire to solve this problem, they must do the same by The product profile has always been a niche segment of working together. customized service solutions and thus it has its own nuances in its marketing approach. Hence the scalability is The Housing (Gated Communities) too require such logistic very organic based on the service integrity, reliability and solution in a big way. With a speedy shift from traditional words of trust. Business development leads primarily on the basis of customer references. shopping to the internet and mobile-based shopping, door deliveries such as courier documents, consumables, food items, medicines, and many more have been on a rampant
Our solutions have a holistic approach to the entire outbound mail management surge. But modern apartment complexes are too skeptical when it comes to allowing such delivery personnel to walk into residents’ houses for deliveries. Various reports suggest it is therefore very imperative that the vendor and the service provider’s personnel are restricted from the complex access. Also, motivation to commit a crime increases with the familiarity of the property. It is also highly difficult within the apartment complex to segregate a resident and it is even more complicated in a complex that has a lot of roadways, walkways, parking lots, recreational areas, lobbies, elevators etc. Hence Mailroom Management is a necessity in most apartment complexes and Avon claims it to be the right time to implement the same. Striding towards a Buoyant Future Unlike the previous days of the startups, today technology is more prominent and the solutions are built around the services to enhance the efficiency to a new level. Avon’s model of package management proficiency to deliver certainly fulfills this segment with the least cost and maximum productivity and returns in the future with more innovative ideas and simplified solutions. The company has a keen eye to become the best from the rest with its updated solutions and innovative ideas to make the logistic services more efficient than ever. New products and services will further be initiated to complement the mail management domain which helped Avon Logistics to grow more organically. www.avonsolutions.com www.avonsolutionsindia.com
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CORPORATE OFFICE Insights Success Media and Technology Pvt. Ltd. Off No. 513 & 510, 5th Flr, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017. Phone - India: 020- 7410079881/ 82/ 83/ 84/ 85 USA: 302-319-9947 Email: info@insightssuccess.in
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Company Name
Management
Brief
Avon Solutions & Logistics Pvt. Ltd avonsolutionsindia.com
K Krishna Kumar Founder & Director
The company pioneers in India, to offer Integrated Mailroom Management Solutions, with its unique process which started initially as an Intra-city document player to be one of the leading names of the industry.
BizCarta bizcarta.io
Pradeep Kumar CEO & Co-founder
BizCarta helps to leverage converged data center infrastructure to deliver rich and persistent application experience to the end users and navigate the security maze and establish a proactive IT security framework to reduce cyber-attacks.
Excel Placements proves its efficiency with HR solution and man Excel Placement Services Mahender Singh Bagga, management services to understand the need of the clients and Rajeet Singh Bagga excelplacements.com also the job seekers to benefit both of them to reach the ultimate Founder goal of the company. Indian Register Quality Systems irqs.co.in
shashi mishra Global Head
IRCLASS (IRQS) is the food certification brand with world class accreditation bodies to provide ISO Certifications & Training programs for a better health and lifestyle.
Pinnacle People Solutions pinnaclepeoplesolutions.com
Deepak Patil CEO
Pinnacle People Solutions specialize in working with family-owned organizations to craft and implement People Management & HR solutions to accomplish business vision & goals. The consulting team has proven expertise in Goals & Performance Management, Organization Structuring, Training, Compensation and Statutory Laws.
QA Certification Services Pvt. Ltd qacertification.asia
Anshul Arora CEO
QACS, backed by years of industrial, certification and auditing experience provides ISO certification services, DAC accreditation, IAS-USA along with testing services for chemical and biological testing.
Software@Work (INDIA) P. LTD sawindia.com
Vikram Seth Founder
Software@Work is the one stop solution for off-the shelf software that every business needs. The company takes care of the readymade or customized solutions in a personalized manner to gratify client’s demands.
SUCCESSWRKS HR Solutions Private Limited successwrks.in
Anjani B Kumar CEO
SUCCESSWRKS HR Solutions Private Limited works as consultants and outsourcing, and skill providing solutions. From man management to client consultant, the company has extended its hands on complete HR solutions.
Sushanth IT Law Associates sushanthitlaw.com
Mr. Sai Sushanth CEO
Sushanth IT Law Associates is a full service cyber law consulting firm to take care of different issues of the clients regarding the law and cyber solutions.
TSS Consultancy tssconsultacy.com
Sagar Tanna Head of Sales
TSS Consultancy offers end to end solution, from screening to STR. The company complies with code of ethics regulation in a single solution through the database which consist various modules.
EXCEL PLACEMENT SERVICES REHASHING MANPOWER MANAGEMENT
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anaging manpower is not an easy task and that is the reason most companies trust the best of the services when it comes to finding the right candidate for the post. There are a number of placement organizations which are working in this service-providing sector. But there are only a few who could understand the demand of the market and be the apt provider of it. In an interview with Insights Success, Rajeet Singh Bagga, Founder of Excel Placement Services gave some insightful answers highlighting the influences made by his company to take manpower management services to a new level. 1. Kindly brief us about the company. Enlighten us with the foundation story and a brief detail on the company’s initial days. I started Excel Placement Services with the idea of wanting to help Indians to find opportunities abroad. We have so many talented and hard-working people, but there is a lack of opportunity for the large part of the population. We act as a connection between these people and different organizations. We started off as a small company with the strength of only two people and went on to grow to a team of fifty people. I still work as an active member of the team and am always there alongside my team to ensure the best standard possible. 2. Brief us about the Founder/CEO of the company. My father, Shri Mahender Singh Bagga and I founded Excel Placement Services. I am a commerce graduate with an International business management diploma from London (UK). Before joining EPS, I was a proprietor at Chaman Auto Consultants. Due to my rich experience in managing and handling workforce
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solutions, today Excel Placement Service is serving workforce needs of more than 300+ prominent government and multinational companies across Gulf, Central Asia and Africa regions. 3. What kind of ethics, principles and manner of working you observe while running the business? Our process is very transparent. Our intentions of working with the organization are put forward with clarity and we put our best foot forward. We never say ‘No’ to a challenge. We are flexible with our Terms and Conditions and we have always worked towards building a long-term relationship with our clients. I am approachable to my team as well and one thing that I force them to practice is to not just come to me with problems, but with possible solutions to those problems as well. This helps in solving most problems and it helps in the growth of employees as well. 4. Please tell us about the business model you follow that makes the brand unique in the mid of cutthroat competition. Excel Placement Services is a true extended HR arm to our clients, like an extension of their teams. Our account managers work with clients to find solutions to their hiring needs. Our involvement in the hiring process is only limited by what our clients want us to do. We have a reach into the remotest locations of India to source talent. It has to be a win-win situation for our clients and candidates. 5. Tell us about the business policies, the agendas and customer services you provide.
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Interview with Insights Success
Rajeet Singh Bagga Founder
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Our Business policies are simple; we provide world-class solutions for our clients and candidates. The only way we are able to do so is by focusing on the below three: 1. Quality 2. Transparency 3. Cost Effectiveness We provide services for both Domestic and Overseas Placements. Apart from that, we have extended our hands to permanent staffing, temporary staffing, contract staffing and payroll services as well. 6. Brief us about the future of the company or the goal it has set to mark its uniqueness in the future. Expansion plans are there in the near future, which includes territory and the team as well. We also are planning to open trade testing centers where talent can be nurtured and be placed in relevant organizations. There are people willing to work hard and have the energy, and we want to help them channelize it. The idea is not to stand out or be the best in the competition, the future of our company is to keep improving, evolving and to keep setting higher goals for ourselves. We are our own competition. 7. Please share with us the current industry scenario from your perspective. Manpower Supply is a very volatile industry as the hiring depends on the economy. The organizations usually work with multiple agencies and it is a constant rat race. We believe the quality of business we provide helps us to add to the goodwill in the industry which eventually will bring business to us. It’s simple! 8. Advice for the budding entrepreneurs who are trying to embark in the same field. Dealing with Manpower is a complex work compared to dealing with products or services where the dependency is in-house. It’s a rough ride and we deal with challenges day in and day out. What helps us cope up with the situation is that we are focused on the deliverables and ensure we are self-motivated all the times with a number of targets: a. To be solution oriented. Recognize where the gap or problem is and fix it. b. Do not let failure stop you, and go one company at a time. c. Working on the surface for manpower consulting will not reap results, understanding the Industries, trades, supply and demand, and your clients will be your key to success. d. Quality should be given the utmost importance to establish yourself in the market. 9. Kindly tell us about the accomplishments and acknowledgments of the company. Testimonials from our clients and Awards are definitely encouraging, but according to me, accomplishments are when we surpass our own capabilities. We are always striving to keep take up challenges and coming up with new hiring solutions to complex requirements. 10. If you want to add any information or any other important factors about the company, then we are eager to know them. We have plans for expansion and will soon be opening more branch offices. We are also planning to start training institutes to nurture talent and equip candidates with skills to be able to give their 100% at their workplace.
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QACS GROUP
AN EMERGING SYSTEM CERTIFICATIONS PROVIDER WITH WORLD CLASS SERVICES
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emands for standard products and services are rising from both industrial customers and retail consumers. Therefore, even small-scale companies try to get certified to prove the quality of their services and maintain the benchmarks set by the respective industry. They usually prefer a certifying agency which can provide a complete range of certifications relevant to their needs. This has put QACS Group on the forefront to provide such services in accreditation or permissions and other related system certifications.
Experienced Founders Jayesh Agrawal and Anshul Arora are the founders of QACS which is launched in 2009. It is headquartered in New Delhi, India and provides its System certification cervices throughout the world. Jayesh is a Mechanical engineer and honed his management skills through an MBA. He was admired as the lead auditor for many international and Indian standards, having 26 years of vast experience in diverse fields.
Ethical Certification Services QACS is providing ISO certification services along with testing services for chemical and biological testing. The company has years of industrial, consultancy and auditing experience and recognized in business circles for its timely and efficient services. Initially, the company started with DAC accreditation and subsequently taken further accreditations like IAS-USA. The company has started with a small office and since then flourished its business to expand the business. Expanding into Food Sector In the meantime, the team felt the need for testing of food products as well based on the anticipated growth forecasts of the food sector. The new company was formed as QTTL Lab Pvt. Ltd. to provide affordable testing services for chemical and biological analysis of all types of food products. The testing unit of this company is also accredited by NABL for both the field and FSSAI notified lab. Now, QACS is providing affordable ISO certification to customers of various fields along with testing services to the food industry as well as to regulators. Due to cost-effective and timely services it has been able to expand service to many other countries.
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A young and talented businessman – Anshul, has completed his management education as MBA and has a reputation of being an e-commerce expert. He was one of the lead auditors in many international and Indian standards, having 15 years of experience in certification industry. His strengths are to capture the market with drive and sense of customer needs which he has developed with experience. Core Values and Principles The objective of the establishment of the QACS group lies in the principle of providing good services at an affordable cost. Every business ethics originate from individuals, organizational philosophies and from the legal systems. Principles at the company are based on a set of moral and ethical values in an absolute sense and the company takes them very seriously. These principles are followed firmly enough to override any human rationalization, weakness, ego, or personal faults. Life always remains a game of challenges coming one after another and there is a disagreement about what values should reign supreme. This avoided undue compromise on the quality of service. When all the external forces are not favorable enough, it always looks back to these core values and principles.
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Unique Brand with Prudent Business Model QACS is a certification body for system and product certification, it provides the good services at affordable cost to the customers and it makes the brand unique. In this era of competition, the company believes in providing best in class services always within the available resources which sometimes results in less profit. It avoids unnecessary price war at the cost of quality of the services for generating high profits. It has a very good team of dedicated professionals led by promoters directly and each minute detail is finally supervised by owners so that deviation does not occur. The company has a simple policy to provide the best services as required by customers and go to extra length to keep customer satisfied. Achievements of the Company QACS is a still emerging but a promising player in the Indian market in spite of the backing of an international brand. The company has created a unique place for itself in the field which has originated and controlled by multinational companies. It provides small but significant services even in countries from where this field originated. Future of World Class Services QACS goals are to become an effectively world-class service provider. There is a continuously increasing flow of business almost 30% of which is from the overseas market. The company is adding many more countries to its list of customers in order to increase the revenue from overseas market. The overseas market is now a major contributor to its revenue. The strengths like flexibility and ability to adapt itself will steer the company to a path of success in future and it will continue to be a service provider of choice. Advice for Entrepreneurs “If you wanted to work ethically then continuous professional development is required in the field. As standards are usually revised within a time frame of five years hence continues training and personal development should be the way to stay ahead in the field. To become a good player in the field, nurture your team to the level of maturity which requires a gestation period of three to four years.” concluded the founder when asked for an advice for entrepreneurs.
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Anshul Arora CEO
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Providing good services at an affordable cost
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Editor’s Insight
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hile services have become the integral part of almost all the recognized sectors, law doesn’t typically count as one of them. But as a matter of fact, it is one of the essential factors to survive and stay alert from any legal complexities, from personal to social and most importantly, it includes business and services as well. When company or job
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goers fall victim of any situation, legal help becomes the only way out to get away with it. Legal services are an important consideration for any business owner. It has higher significance for small business owners; who often face a number of legal hurdles. But the bigger names are no exception, and thus they need legal help too. Apart from that, it is irrational to think that the law-helps confine only the owners for the sake of business purpose. The employees of different companies too need the help to secure themselves from any discrimination, harassment or other legal issues. The work zone has changed drastically, and the legal advisory is now being used as the much-needed services, mostly for those who belong to corporate world. The legal firms are providing their knowledge of many requirements to sustain the business or a job. The Dilemma of Expense The high costs of retaining a lawyer often make it a difficult financial choice, as it is always thought to be expensive and out of reach for job owners and most of the small companies. But there are reasonably priced options which are currently emerging with the change and demand of legal service scenario. But it is unfortunate that, a lot of people are unaware of these options. Here we have discussed some of the possible and budgetfriendly ways to get the right suggestions and supports at the time of legal controversies. Prepaid Services This term is apparently new and innovative as well. The most cost-effective way for small business owners to obtain legal advice is by enrolling into prepaid services. Initiated by Caldwell Legal in the U.S.A. in 1967, the plan includes unlimited hours of toll-free telephone consultation. Pre-Paid Legal Services set up a program that essentially allows small business owners to purchase “legal insurance,” much like they would purchase health insurance. This can be very helpful and budget supportive when companies suddenly need legal help. But this service is not very helpful to the job owners and commoners.
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The Apps of Law Interestingly, technology has worked as a boon for the law advice seekers. The literal advice has taken a diverse turn with the upheaval of technological provisions created by apps. Like every other sector, ‘apps for legal issues’ are there in the market now. These apps can be taken into account to know some basic rules and regulations to get enlightened about the basic legalities. These apps are quite trending and are available easily in this smart-phone era. One can easily get those apps depending on the needed help to fight discrimination, wrongful termination, sexual harassment, copyright claims or other such issues. Digital Engagement In the digital era, the law is digitalized as well. There are a number of legal websites where anyone can get free or paid services for legal requirements. These websites deal with their clients in the most professional manner without the fears of leaking information or selling data. The most important part is these websites are that, they are to help brand and companies as well as the working individuals. Professional and Personal Support There was a time when one needed to visit the personal law suitors to get the legal support. This trend has loosened its importance a bit but has not lost its charm and importance till date. Lawyers are the best help when it comes to complicated legal situations and continuous legal supports. They can get into every detail of the process and can be trusted with their knowledge of the Pinal code and judiciary system of India and other countries as well. The world is a complex place and staying upright is a necessity. The best suggestion is to stay away from any legal complexities to save time, the brand value and mental peace. But for your rights and lawful liberty and authority, there are more than one simple option to choose and to be upright with!
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ARSYM
AN ABODE OF FUTURISTIC DEVELOPMENT FOR KIDS
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he world is engrossed in progressing in every sector. But to be the best in everything, the most important aspect is to enhance the capabilities of the kids and students on whom the future of humanity is entirely dependent. While there are a number of competitions, Arsym is going strong with a different approach. In an interview with Insights Success, Manmeet Nayyar, the Founder & CEO of Arsym has given some insightful answers of his futuristic thoughts and vision. 1. Kindly brief us about the company. Enlighten us with the foundation story and a brief detail on the initial days of the company. Arsym is a team of old stagers that wish to build a global growth platform and has successfully proffering pioneering services across Edutainment, Business Consulting, Application Development, Marketing Process Outsourcing and Relationship Analytics with worldwide operations.
Manmeet Nayyar Founder & CEO
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Though Arsym reached great heights of success in its endeavor of building a growth platform for Indian Companies by adopting advanced processes & technologies, it wasn’t enough for me. Hence, I started RACE BHARAT, a global conclave uniting Corporate, NGOs, Educationalists and Researchers to help build a brighter India through Re-engineering, Analytics, CSR and Education.
|October 2018|
Interview with Insights Success
Soon, I realized that without empowering the kids, who spend hefty time in memorizing facts & figures in schools, achieving a wholesome growth for the country is impossible. Consequently, I brought forth a more innovative, scientific yet fun-based learning approach that promotes development of all quotients of intelligence: Spiritual, Physical, Intellectual, and Emotional. Headquartered in New Delhi, India, SpieQ has its global sales offices across Dubai, Singapore, Melbourne, San Francisco and Toronto. 2. Brief us about the Founder/CEO of the company. What kind of ethics, principles and manner of working does he observe while running the business? Please share with us the major contribution towards the development of the company. I have more than 18 years of professional experience in leading senior management roles with large Global Companies such as GE, American Express and Tech Mahindra and compelling Technology Start-ups such as Global eProcure and TrustSphere. I hold M.S (Computer Engg) from USC-Veterbi School of Engineering and MBA from SPJIMR. Also, I am an alumnus of Columbia Business School (Certified Digital Transformation Leader) and MIT-Sloan (Certified Innovation & Design Thinking Expert) besides being ITIL and Six Sigma Certified consultant. My passion to work towards building an egalitarian society was the bedrock of founding RACE BHARAT, a social initiative for Inclusive Growth in India by collaborating with Corporate, NGOs, Educationists and Researchers.To bring this change since inception, I decided to target the K-12 student community, the future of India and instill in them the needful skills and values to be successful in 21st Century. 3. What Problems in Education Space do you plan to address? What are your products or services addressing these problems? • School curriculum is not engaging and focusing only
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on IQ based high scores. • Holistic development and value education is not available to children in a defined way. • Emphasis on Experiential Learning is missing from core education. • Parents and children don’t have a platform to engage in meaningful activities together. • Time spent by children on digital platforms is engaging but unproductive • Existing toys and digital games do not offer great learning. 4. The struggle or hardship story or the challenges that worked as the strength behind the success of the company, please talk about that. Start-ups never grow without overcoming challenges and for SpieQ the challenge was to create an innovative value proposition for Holistic Development of children. It needed cross functional intelligent team members across science, arts, design, education and management backgrounds and build synergies amongst them. Demonetization was another challenge for SpieQ. However, the desire to bring science education from lab to doorsteps of both urban and rural India in a cost effective manner has always kept SpieQ on the track. We’ve invested in technology to reduce our inventory cost and made a backward integration to start an e-waste management enterprise, reducing our raw material cost significantly. Our key strengths have been Agility and Perseverance, we always looked upon every problem as an opportunity to gain competitive edge. 5. Please tell us about the business model which makes the brand unique in the middle of the cut-throat competition. Here at Arsym, our Design Thinking and Customer-Centric approach differentiates us from our competitors. In the case of SpieQ, we are the only company that has established an immersive story telling methodology for teaching STEAM and inculcating 21st Century values and skills. Our
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integrated Online (platform engagement, cartoon series, books & more) + Offline (STEAM & Holistic Development Kits Boxes) offerings will provide unique proposition. 6. Tell us about the business policies, principles and agendas you follow. We pick the best brains, a group of like-minded people with strong commitment and deep expertise to bring innovation in how education is provided. We have a flat hierarchy for innovation and all ideas are welcomed. SpieQ is committed to Scientific Social Responsibility and has incubated this culture across its stakeholders with its values of – Innovation, Inclusive Growth, Women Empowerment, Entrepreneurship and Environmental Sustainability. 7. Brief us about the future of the company or the goal it has set to mark its exceptionality in the future. We continually evaluate the education system & learning patterns, and identify gaps to re-build innovative kits & intriguing learning materials. We wish to launch an easy to access, web-based platform providing affordable edutainment in Non-English speaking states and countries. 8. Advise for the budding entrepreneurs who are trying to embark in the same field. The world is going to need new skills in the 21st century such as complex problem solving, critical thinking, creativity, people management, and more. In future, our competition will be with advanced machines, powered by Artificial Intelligence. As such, it is crucial for us to get our children learn those skills that enable them to survive the storm of automation.
Corporate Excellence Awards iv. Featured in Top 15 Start-up Kick-offs for 2018 at Entrepreneur India Forum Awards 2018 v. Featured in Top 10 Global Entrepreneurs for 2017 by Silicon Review Magazine Awards (USA) vi. Awarded by Ministry of Science & Technology India for exceptional contributions on founding RACE BHARAT in 2016 10. What are your views about the current industry scenario? Global Toy Industry is expected to reach to US$135 Billion by 2020 and the promising areas include Asia-Pacific, Middle East and Latin America. Key Market drivers include – 1. Growing Affluence of the Middle Class Population in the Developing Countries 2. Increasing demand for Activity and Construction Toys Asia-Pacific is set to be the largest market. The Indian Toy Industry in 2017 is INR 13,000 Cr and is expected to grow to INR 25,000 Crores by the year 2020. With One third of the population under 14 years of age, Indian toy industry to set to observe greater opportunity to expand. Indian Market is seeing both Global and Indian players but there is no Brand that has built a positioning for Holistic Development. Only 10% of the market constitutes of organized sector. Only 10% of the market constitutes of organized sector, leaving great scope for a Holistic Development Brand to create structured impact and influence Children Mindshare. www.spieq.com, www.arsym.com, www.racebharat.com
9. Please tell us about the accomplishments and acknowledgements of the company. i. Awarded the Most Influential Global CEO in Education for 2018 by CV Magazine (UK) – Corporate Excellence Awards. ii. Featured amongst Top 25 Products & Services Companies in India for 2018 by CEO Insights Magazine Awards iii. Awarded the Best Company in India for Experimental Learning for 2018 by CV Magazine
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Powered By
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SOFTWARE@WORK A REAL GEM IN THE FIELD OF BUSINESS SOFTWARE
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stablished in 1991, Software@Work focuses on providing solutions that are designed specifically for SMEs and distributed enterprise markets. To expand its territory it started developing custom software applications for inventory control in early 1992. Right from the beginning, the company emphasized on solutions tailored specially to the mid-market as it was easy to implement and provide a quick return on investment and low total cost of ownership. It observed that SME’s don’t operate with documented processes and hence it was challenging to automate their processes. It then added Tally an emerging product as an off-the-shelf software offering. This initiative was appreciated by the customers, who saw immense value and could computerize their accounts. It also developed customized solutions in and around Tally so that the best of both worlds was available to the customers. Software@Work has been successfully running over for two decades and has a strong customer-base counting over thousands. The company has left an impact on the lives of many and continues to expand its outreach by providing convenient services and solutions. Over the years, it has also added Microsoft Dynamics NAV and Goldmine- A CRM software to its offerings. It has recently added SAP Business One to its portfolio. A Resourceful Founder Diligent personality is what describes Vikram Seth, the Founder of Software@Work. He is a chartered accountant by qualification having an
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extensive experience of over two decades in the IT field. He studied database programming at New York University (NYU) and is a Commerce Graduate from Sydenham College of Commerce, Mumbai University and qualified as a Chartered Accountant after that. During the process of auditing large clients, he noticed that the clients had access to a well-defined software, experienced consultants and higher budgets. However, SME’s did not have access to qualified consultants or reasonable software. Hence, he started the journey to make great business software accessible to Indian SME’s. When business owners try to find software beyond the realm of accounting, they are flooded with options and have sales people chasing them to buy their solution which is the best. Sometimes, unfortunately they end up buying software on the advice of a sales person and later realise that it was not the right decision. Business owners needs unbiased advice on what technology or software to acquire since they may not have time to find the right solution. “Whenever we meet a prospective client, an analysis of needs and challenges is done with a view to determine the best solution. Our goal is to offer business software that runs immediately and is affordable to buy and maintain. We customize software only on a need basis to ensure that there is a balance of cost, time and product fit”, adds Vikram.
The services do not remain limited to one or two software products, but crosses the spectrum of many products currently available. It keeps scanning the business software product horizon to ensure that great software and solutions are made available to its customers. That’s what led the company to launch SoftwareHunt (www.softwarehunt.in) a platform to offer quick and cost effective solutions using the best software products. Fostering with Amenities Software@Work concentrates on offering the customers with readymade or customized solutions in a personalized manner. It believes in focusing on what the customer needs rather than what the company wants to sell. The company assists organizations in defining the customer’s needs, matching the needs to available functionality and making the right business software choice for the organization. Rather than just promoting specific software, SoftwareHunt tries to enable and educate business owners. Some of the blogs educate customers on topics such as: • Why you shouldn’t be running your business on spreadsheets • Top 10 ERP implementation mistakes • 11 mistakes SME’s make while buying business software • 10 Phases of the ERP implementation process • The right business software can make a business while a wrong one can create much damage.
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The company goes through a diagnostics process with a client and documents their key needs and challenges. Once this process is completed, it starts with another process of matching the needs with available solutions. Some of the solutions are directly sold and implemented by third party vendors based on the company’s recommendations. “The client is under no obligation to procure the software and related services from us and we point them to the best service / solution providers where possible”, concludes Vikram. Software@Work is associated with reputed partners like Tata Teleservices / Tata DoCoMo, Yahoo India, Maharashtra Airport Development Company Limited (MADC), BMW, Mercedes-Benz and HBSC. The Existing Picture A number of businesses operate using spreadsheets and in some sectors like SME manufacturing, the quality of software usage for production planning and inventory control is on a low scale. Accounting software is the most commonly used business software by Indian SME’s and many organizations have not automated beyond that. Events like the implementation of GST will push organizations to automate their processes and data interchange. Until now, each organization is like an island of data with no connections to eternal entities. With the invoice matching concept under GST and other requirements to automate, organizations will look at interchange of data with business partners. This will result in the next level of software adaptation unlike seen before. The upcoming years will be exciting as the usage of ERP will become widespread amongst even small businesses due to the availability of good and affordable business software. Guiding the Aspiring Entrepreneurs “To put it in short taking a consulting approach rather than a sales approach is absolutely essential. It’s about time that our growing organizations automate and get ready to scale up. The Indian startup ecosystem is flourishing and needs more entrepreneurs to take their solutions to the market” advices Vikram to the upcoming entrepreneurs. Fast-Tracking with Time There is an immense potential for SME’s to adapt and reap the benefits of automation by using well-defined business software like an ERP. Software@Work intends to keep help growing businesses by automating their processes and reducing reliance on costly manpower. Some great software products are now being developed in India, which are unable to reach customers and the company intends to help reach these good products with
|October 2018|
Vikram Seth Founder
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We find unique solutions to meet the client’s needs
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their last mile reach. The company has a wide network of partners throughout the country with an aim to expand by reaching out to many. “We are also working on creation of vertical specific solutions so that they can be rapidly deployed even after taking into consideration the unique industry needs of an organization. By using rapid application development tools, we will also be helping organizations build custom applications in a very short time, with minimal coding”, concludes Vikram.
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VIRTUAL CFO A NEW ERA OF SERVICE SOLUTIONS
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xisting Model:
Very often we come across many niche small & mid-sized organizations, having fantastic products or services, but could not scale up due to lack of Finance strategy and implementation.
promoters. Generally, MSME organizations have a culture of not maintaining the cash flow prudently. Thus, there is no clear visibility of the cash flow situation in near future • Lack of control exercised by the Finance to ensure no leakage of revenue • Inadequate funding or high cost of finance
Generally, these organizations are driven by the promoter (let’s call him CEO) and responsibility of taking financials decisions lies with him/her. However, in most of the cases, the CEO is not from Finance background. Typically, in such structure, there will be a junior team to take care of day to day accounting and an external Chartered Accountant who will take care of periodic compliances. Problem faced: Normally the CEOs are people from Marketing and PR background. Their main interest is to win contracts, purchase, sales and production. When the CEO takes up additional responsibility of a critical field like Finance, it costs overall productivity of the organisation. Following are some of the common issues faced in such organizations: • Incompetent accounting processes, resulting in no real knowledge of the financial health of the organisation • Cash flow positions normally remains in the heads of the
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• No clear business plan for the sustainability and growth of the organization How Virtual CFO can help: While in Europe, the banks and investors give importance to the structure of the organisation, whereas in India, it is challenging to aligned this to the CEOs of MSME. It is the CFO who gives structure to the organisation, on which CEO can build the future with 3-5 years visibility. An experienced full time CFO may be very costly for the MSME organization but a virtual CFO or shared CFO can be of great help for them. Idea is to keep it extremely affordable, at the same time, it should add value to the organisation. The virtual CFO will be always available for the organization whenever needed. At the same time, since he/she will be on board of multiple organizations hence his costing will be shared amongst them all. This model can be very efficient and cost effective for MSME companies.
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Expert’s Desk
ABOUT THE AUTHOR Kaushal Kumar Lata is a qualiďŹ ed Chartered Accountant with approximately 20 years of working experience. Before star ng the Virtual CFO prac ce, he has worked with organiza ons like Vodafone, PwC, Tyco Electronics, Britannia and Bosch. During this tenure he has handled almost all ver cals of Finance and Accounts department at India and Interna onal level. As Virtual CFO, he is providing services to some leading names from specialty chemical manufacturer, digital marke ng, hotels inventory aggregators, online games creators and polymer manufacturers companies. His ar cles are published in other trade magazines as well
Kaushal Kumar Lata CEO
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Why it is not very popular yet: Often CEOs look for three qualities in CFO, i.e. qualification, experience and trustworthiness. Generally, all these three qualities are not available together or if available, the resource will be very costly for MSMEs. This ends up CEO taking additional responsibilities of Finance, resulting in overall lower productivity. Generally, the business owners know they have to call a HR Consultant for hiring or a practicing Chartered Accountant for accounting and tax compliances. The virtual CFO concept is relatively new and there are very few quality players in this field hence it is not popular yet. Now a days, many practicing Chartered Accountants are venturing into this field but most of them have neither gained the experience of the real corporate world nor are they committed for the growth of organisation. These practicing Chartered Accountants are still committed to cater to their multiple clients for their accounting and periodic compliance work hence they are utterly unsuccessful as Virtual CFO. Prerequisites for a successful Virtual CFO: Along with Sales, Customers and Product, the function of Finance is the forth fundamental pillar for the organisation on which great business is build. Keeping this in mind, the role of virtual CFO is very important for the success of the organisation. Following are some of the prerequisites for an effective Virtual CFO of mid-sized organization: • Exposure of best practices of great organizations: Virtual CFO must have long working experience with world class organizations so that he can understand and replicate their best practices to our mid-sized clients, who otherwise are not exposed to it.
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• Stress on the importance of organizational structure with roles and responsibilities well defined. This helps to reduce the burden from CEOs on his own performance. He should be able to set the measurable KPIs and periodic review of the performance vis-à-vis the KPIs. This gives visibility of the current status of the organisation as compared to CEO’s goals and vision. • Set up real time MIS for top management on the business performance. • Weekly projection of Cash flow for upcoming months. • Setting up Governance Framework to ensures that there are no unpleasant surprises for the management. • Drafting and implementing policies and procedures along with internal controls over processes. • Hedging the risks: Risks are integral part of the growth of the business. The Virtual CFO should be able to help CEO taking calculative risks and advise on how to hedge it. • Budgeting and long-term planning: this is useful to measure the performance of the business, set goals and aligning employees goals towards overall organizational goals. • Efficient use of cheaper funds available in the finance market. This helps availability of the funds for fueling the growth of the organisation. • Focus on good control environment: Virtual CFO should have a strong internal audit back-ground to enable him set up good preventive control practices in the organisation.
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in Banking
and
Leverage of Technology
FINTECH T
echnology has come a long way since the early parts of the 20th century. Today it can be used to detect illnesses in a person, predict a mishap that may occur related to natural disaster and make things simpler in every sector there is. With this advancement, the banking sector has had a lot of changes implemented into it. The inclusion of technology is bringing a major change in the way the banking and financial sector operate. The concept of financial technology has taken the world by a storm in the growing corporate world. There are multiple areas where the incorporation of technology will develop the entire sector and make things simpler for the customers as well. The Customer Benefit bringing in Profit The customers and banks are reliant on each other for services and this makes it absolutely imperative that the customers are well taken care of. In the past, money matters required skilled people to handle them and assist everyone in sorting out any issues that crop up in the transaction process. But, the involvement of technology has made things simpler with the use of chatbots. These are used to give automated responses to any of the customers’ queries. These save the time of the bank employees as well as the customers. This gives bankers the opportunity to utilize that
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|October 2018|
Editor’s Perspective
|October 2018|
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time to develop newer and better facilities creating a win win situation for both of them. Apart from this, the introduction of the ATM made transactions easier for everyone. Nowadays it doesn’t require people to go all the way to the main branch of the bank to withdraw the amount required. The facility to instantly extract money using an ATM that is now available in every corner of a city has made things convenient for the common man. Even depositing money is not a major task, as there is also a machine for the same as well. People can also keep a track of their finances using the ATM’s facility to check their account statement thus helping in savings with only the push of a button. Creating a Defense against Fraudulent Activity Online transactions though convenient can also come with their fair share of disadvantages. But the same technology is what helps detect any deceitful transactions. If such an instance occurs man does need to put in some effort but due to the records present in the system, it’s easier to keep a track. Investigations become easier and due to the use of new technologies such as AI, the fraud can be detected and solved in a shorter time span. This also helps save plenty in terms of resources that would be used if it was just human resource being used. It also saves large amounts from going missing entirely as there is always a trail left behind in the case of an online transaction. Implementing a Cashless Mode of Payment Technology has always given ways to make things simpler and its the same case with payments as well. All through the century people have relied on the cash payment mode but the smartphone has changed things drastically. One using a variety of mobile applications can send or receive payments instantly. This doesn’t require the use of a credit of debit card. Be it a restaurant or a grocery store, any amount of any quantity can now be transferred directly into the other person’s bank account. The concept of an online wallet has also made it easier to store amounts in virtual wallets that can be of use in emergency situations. Accurate Authentication and Prediction Techniques The concept of transferring money online though simple also allows only the account holder to have access to it. The use of fingerprints and passwords has ensured that the account is mostly safe from any sort of hacks. There are also various firewalls around the account to ensure its safety. In more recent developments, palm vein authentication has made the accounts safer as each person’s difference in body structure due to a complicated vascular structure brings a difference in the vein and this is then stored in the database. The accounts data can also be used to create an appropriate credit card plan for people as it will be based on the individuals’ budget and their spending capacity. This can stop people from taking up plans that may not suit their lifestyle. The Art of Insurance with Technology The field of insurance is a very necessary and crucial one as every person requires different kinds of insurance to protect and get them through any critical situation. The various insurances such as health, car and home are available to secure one’s finances. The inclusion of new technology such as IoT and Artificial Intelligence in finance gives insurance makers an idea of the suitable plans for a family. It used to such an extent that, some insurers are fitting cars bought by their clients with smart devices to check the driving abilities of the person and analyze the risk percentage. This helps them decide the ideal price to mention to the clients. Banks today are moving away from age old methods and working in collaboration with technology to facilitate an ever growing need for speed in every sector of finance and banking. It is essential in order to meet the expectations of this constantly changing world. This vision of the future has so far proved to be beneficial by putting the customer or client in the center of the priority list.
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|October 2018|
SUSHANTH IT LAW ASSOCIATES ENCAPSULATING TECHNOLOGY TO LEGAL PRACTICE
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yber Law and Information Technology Legal Practice are evolving as a trending area of legal practice. With the rapid adoption of technology in all spheres of business and personal life, this niche area poses various legal challenges making it an interesting and yet constantly growing area of legal practice. The undeniable dream of Mr. Sai Sushanth of starting an exclusive Cyber Law Consulting Firm is alive today, fervently burning in the heart and mind of Mr. Sai Sushanth that leads to the inception of Sushanth IT Law Associates (SITL) in 2012. Six Years later, today Sushanth IT Law Associates has grown to a 20-member firm spreading across three offices in the prime locations of Hyderabad- Hitech City, Banjara Hills, Begumpet. Today, Sushanth IT Law Associates is a powerhouse on its own, earning three awards for recognition as a top of the league Cyber Laws Consulting Firm. A Technology Driven Legal Proponent Mr. Sai Sushanth is a proponent in managing “Sushanth IT Law Associates” as a successful Cyber Law Consulting Firm and believes that technology adoption starts at the top. Starting out, Mr. Sushanth had a goal to increase the firm’s efficiency and as a result, SITL went paperless, thus reducing the time associates spent filtering through legal documents and agreements. While the associates at the firm have a niche area of legal practice, they noticed that, their CEO also has an entrepreneurial mindset coupled with the passion for this niche area of legal practice and innovative ideas to build a thriving law firm. Mr. Sushanth believes that both legal and technology professionals working together brings in varied perspective adding value. This attitude is engrained in the firm’s culture contributing to the success of Sushanth IT Law Associates
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as an exclusive full-service cyber law-consulting firm. Still, the thing that makes him unique is his mission to help startups and entrepreneurs around the world. Today, Mr. Sushanth tours the circuit of masterminds speaking, teaching, and spreading his knowledge on cyber law. Evidently, Mr. Sushanth figured out embracing technology could exponentially scale the business of the firm. The Techno Legal Know How Sushanth IT Law Associates went mobile in addition to being paperless, with each associate using a tablet and laptop, one for drafting and other for viewing the legal agreements and documents. The firm also employs in-house developed cloud-based law firm management tool, which makes work allocation, work status reports, creating repository of legal library, tracking progress of associates simple, yet reasonably secured, ensuring that their 3 offices operate as one team. The technology and legal expertise coupled with innovative management techniques makes Sushanth IT Law Associates a customer-focused cyber legal powerhouse earning a coveted spot and recognition as a top of the league cyber laws consulting firm. Looking Beyond Traditional Legal Practice Sushanth IT Law Associates offers legal cloud on its website, enabling clients across the globe to request for a service and upload their documents. The firm adopts data analytics and mobility driven technology enabling the enterprise to do more work with few associates. It implements a peer review process in all its matters wherein associates at the firm get their works reviewed by the senior associates under the expert guidance of their CEO Mr. Sushanth. The firm believes that its associates under the guidance of their CEO shall be able to build its business,
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their high quality of work enhancing the firm’s brand and analysis of their work and data to improve the process and increase productivity. Sushanth IT Law Associates delivers quality cyber legal solutions to varied clientele ranging from startups to Fortune 500 companies. The firm believes that concentration on just one thing and considering its done is not a right approach. In a nutshell, the firm offers the following services • • • • •
Drafting of cyber legal agreements, contracts Formulating cyber legal policies Rendering cyber legal advisory services Data protection and cyber law compliance & audit Protecting & registering intellectual property & IP licensing • Cross border legal aspects • Creating techno legal frameworks • EU GDPR compliance For its unique and robust business model, the firm is recognized among the top cyber law consulting magazines by various prominent magazines. Advice to Budding Entrepreneurs Guiding the budding entrepreneurs, Mr. Sushanth asserts, “Your passion should be the driving force for entrepreneurship”, “Never Ever Give Up”, “Love What You Do or Do What You Love”. Automating Legal Services The firm looks beyond the legal industry to push the boundaries making geography as history for cyber legal practice. As a result, the firm is testing ‘Smart Contracts’, making it easy for the clients across the globe to get professionally drafted and specifically customized contracts and cyber legal agreements within seconds at a click of a button. Sushanth IT Law Associates constantly adopts latest cutting-edge technologies creating innovations in the Legal Practice
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Mr. Sai Sushanth CEO
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We believe we can ensure dedicated service through our direct and timely services
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PEOPLE
Before PROFIT P
eople are the most vital asset behind every business. They are the intangible possessions that most companies fail to measure. In any organisation irrespective of it being product or service oriented it needs to determine that it is their people that are the factual architects of its being. In other words, it is these very people that are the unmeasurable intangibles that generate the revenues in any organisation. This theory is one of the oldest and the organisations that have successfully implemented this are a testimony to its effectiveness which shows directly in the bottom line. However, most businesses still measure their financial performance to the needs of the earlier days when capital enjoyed its conceit in the minds of strategists and stockholders. Companies still fill their annual reports with information about how they use capital but fail to reflect sufficiently on putting people first as their fundamental drivers of wealth creation in today’s economy. Despite the evidence that intangibles are now the true source of corporate wealth, companies tightly control discretionary spending on them. Any function in the organisation weather it is Advertising, Innovation, Finance, Human Resources or IT are all headed, developed and executed by the most important often neglected resource of all - its people.
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Even small changes can make a big difference in organisations when they become show an interest in their personnel. This has been revealed by a study conducted by Google where the most productive teams were the ones where everyone had an opportunity to speak; in which most of the employees had a High EQ and in which dialogue was conducted in a way that made all the members feel safe. The company then applied those findings to new groups forming around the organisation. (Talent Wins by Ram charan, dominic Baton, Dennis Carrey) But when an organisation really wants to establish goodwill within and outside the organisation it needs to go beyond just showing an interest there is strong need for them to become people centric. Investment and empowerment of people is key in driving results. Structured & tailor-made training and leadership programs focused on team work need to be made the main driver in internal investment decisions. In today’s Competitive landscape a key differentiator in the market place is a company’s approach to its customers. An engaged and committed team is your most effective tool against competition today. What we invest in people today pays back in the long term. One of the best examples reiterated was by Vineet Nayar from ‘employees first, customers second’(EFCS). The
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Expert’s Viewpoint
solutions came from his colleagues which were just applied in different contexts. “I have trust in my incompetence. I am clear in my mind that I am surrounded with smarter people than me. The smart thing to do is let the smart people do the smart things rather than not let them do it.”. This was followed by inverting the management pyramid and making the management accountable to the employees who in turn served the customers better. This change in structure made a drastic difference and HCL’s revenues it grew by 600% in times of recession and from $700 million in $2.6 billion in five years accelerating international expansion as well. Another example would be famous quote from Richard Brandson that says it all “Clients do not come first, employees come first. If you take care of your employees, they will take care of your clients”. Further there are organisations that have replaced words Employees and replaced it with the term Team Members. Its a clear sign from the management that it values the personnel working in the organisation. In fact, such companies do not use the term Human Resources. After all a resource refers to a commodity that could be bought and sold. Team Members on the other hand need to be nurtured and developed, hence the new name – Organizational Development. It just goes to show how the vision of the next generation leaders are evolving from just reading the bottom line to focusing more on its people first.
|October 2018|
Diya Malani Founder
ABOUT THE AUTHOR Diya Malani is the founder of Arteez Hr who is known in corporate sector for more than a decade now, for consulting organisations for a successful planning and closing their confidential executive mandates. A dynamic and dedicated professional, Diya has worked for more than hundreds of corporates, to mark herself as one of the trusted brands for Human Resource and man management. She has completed her Masters from University of Strathclyde in International Management and also went to MIT Sloan-Cambrige university scholarship.
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