Make innovation with “retail × technology”! Hot growing company in India 【Mobisy Technologies: Prequel to interview】
Do you know “Mobisy Technologies Pvt.Ltd”, a startup company that has been attracting attention in India recently? It was ranked the 3rd fastest growing company in India at “Deloitte Technology Fast 50 India 2017”, and continues to achieve remarkable growth.
This time, we talked to Mr. Lalit Bhise, CEO of Mobisy Technologies, which has headquarters in Bangalore, India.
In the prequel, we will introduce the background, philosophy, and the offerings of the company.
- 1 Impact on hundreds of millions of lives
- 2 Elected as the 3rd fastest growing company in India
Impact on hundreds of millions of lives
Decided to start a business from being an engineer
Q: First of all, why did you start a business?
A: Before starting a business, I worked as a embedded engineer at Siemens, a mobile phone company for about 7 years. In 2006, I felt that I have grown enough as an engineer, and one of my colleagues took me out for lunch and asked me if I would like to “start something of our own”.
I had been thinking about building something for a long time by then, so I took that offer and made a decision to start a business of our own.
Q: Can you make use of the experience as an engineer in the current business?
A: In working in the technology industry, I feel that the deep knowledge, skill, and experience in mobile applications and cloud computing that I have acquired as an engineer are extremely beneficial. It is because of my education that I can find out how to deal with the challenges and requests from customers quickly by using technology.
Even now, I continue to do programming as a hobby and make a product based on my idea. By doing so, I’m able to not only catch up with the latest technology, but also expand the knowledge concerning services required by society. And I utilize these things in our current business.
Q: Bizom and Distiman are the services for the retail industry. Technology is necessary for retail industry, isn’t it?
A: Yes, that’s right. In fact, the retail industry is evolving day by day thanks to technology. For example, the factory is digitalized and best-selling products are sold online. So being familiar with technology is a huge advantage for us, even though technology seems irrelevant in the retail industry.
Change society by ‘retail × technology’
Q: What is the company’s mission?
A: Although we don’t have such a big philosophy as a large enterprise holding up, we have a vision called “Algorithmic Jugaad”. This is the idea that “Even under various constraints, we continuously improve services and products much better, based on frugal innovation”.
About 1.3 billion people live in India. We launched the business with the desire to give the impact on hundreds of millions of lives. It is our mission to make something interesting for society in the field of “retail × technology”, and we have been successful so far. It will not change from now on.
Elected as the 3rd fastest growing company in India
The secret of growth is to work with “right kind of people”
Q: The company has been awarded the 3rd fastest growing company in India at “Deloitte Technology Fast 50 India 2017”. Your company has been growing now. Is this the result of reflecting the vision “Algorithmic Jugaad”?
A: Yes, but that’s not all. As an organization, we work with “People First” over all. We put importance on people. Working with the right kind of team is one of the most important parts of building a successful business. So when looking at the business our priority is “People”, then “Product”, and then “Profit”.
Working with the right kind of people and creating the right kind of products that the organization needs will hopefully help us make good profits over a period of time. So from the time we founded this company till today, we place importance on working with the right kind of people.
Q: To be more specific, what is “right kind of people”?
A: I mentioned about “Algorithmic Jugaad”, and “Jugaad” means “Innovation” in the Indian context. Almost one third of our employees have entrepreneurial experience in the past, and I believe that adopting their know-how and opinion, which makes remarkable growth possible based on small innovations, will lead to the growth of the company. The “right kind of people” have not only skill and experience, but also a desire to do work that will be beneficial to society.
Q: Other than “Deloitte Technology Fast 50 India 2017”, your company was awarded at “The Accenture Consumer Tech Awards” of Accenture, “FT 1000 High-Growth Companies Asia-Pacific 2018” of FINANCIAL TIMES (43th in 1000), “Best Sales Force Automation of 2018 as Reviewed by Customers” of Gartner, “Tech30 2015” of YourStory (5th in 30). How do you feel about winning these awards?
A: Thankfully, we were able to win many awards. But these awards have just acknowledged that we are rapidly and continuously growing our business. I think the important thing is to have an impact on hundreds of millions of lives by turning our eyes abroad and growing much further.
Efficient ecosystem for the retail industry
Q: What kind of services does Mobisy Technologies provide through Bizom and Distiman?
A: Both services are for the retail industry. Retail is the largest market in India, and one fourth of GDP is driven by this industry. And also 90% of retail transactions happen through traditional trade run by individuals. The portion of online shopping and modern trade is small.
In this traditional trade eco-system, goods go through the hands of manufacturers, distributors, and retailers before they reach the consumers. Bizom digitalizes retail business and connects retailers with manufacturers and distributors. And then, in order to provide insight to distributors and retailers, we aim to put the analytics or intelligence on top of all this data that we are gathering in traditional trade.
Distiman is like a purchasing platform for retailers and distributors. In traditional trade, manufacturers sell their products to distributors via the warehouses. So it is difficult and inefficient for retailers to find the products they wanted. However, Distiman consolidates information and purchase routes of all kinds of products. Distiman helps customers to achieve an efficient eco-system.