Sanjeev Mishra, Santosh Atre and Randhir Hebbar worked together in a leading analytics company where they each managed critical accounts for the company and helped them achieve substantial growth. As each of them moved out of the company, they stayed in touch and noticed one specific business problem that all their past and current clients faced – the inability of the current analytics vendors to meet the client needs of delivering implementable solutions that delivered value to clients.
The trio met a couple of times over coffee and brainstormed the idea of building Convergytics. It’s an analytics solutions company that focuses on providing CRM, marketing, pricing, online and social media business solutions across industries.
Sanjeev is the CEO of the company and is involved in building the analytics capabilities and garnering new accounts. In his life prior to Convergytics, Sanjeev was the founder member of the team that conceptualized and initiated the analytical services BU within TNS. Santosh managed large retail accounts to provide end-to-end and cross functional analytical services and partnered with the account manager to plan and sustain account growth across their retail function.
Randhir is a digital marketing, web and social media analytics expert and a techie. He has a proven track-record of managing large IT & analytics teams that have served several Fortune 50 retail & technology companies.
“For the first one year, we had bootstrapped the company with our savings in a small room at my home. Initially, we had pitched to more than 100 clients but we closed our first major deal in early 2013,” says Randhir.
The company has a dedicated sales team in the US and India that focuses on new account acquisition.
How Convergytics offers actionable analytics?
Math or Statistics as they say has been commoditized. “There are products like SAS, SPSS and R that can convert any data into a statistical solution. Businesses have also realized that though sound statistics is a requirement but it is not the final solution to different business problems. At Convergytics….We have ONE mission, ONE philosophy – that inspires us every day. That is to Boldly redefine possibilities of data, Provide new solutions and Bring about change. We analyze data, socialize analytics and monetize learning’s” points out Sanjeev. The startup solves client problems from a business perspective, with the granularity of analysis at which decisions are taken.
Convergytics data fusion framework helps companies to have a holistic picture of the business and hence makes the solution far more implementable. It also lays down the implementation path with a robust measurement framework which enables entrepreneurs to measure the incremental ROI from analytical solutions.
“We offer solutions that are implementable. The first question we ask a client even before signing the deal is ‘how will they use the solution?’ There are multiple situations where clients don’t have an answer to the question. So they either work with us, and lay the implementation roadmap and then do the analytical solution or they look at other problems that can be solved as well as implemented,” adds Randhir.
The startup is working with some of the leaders in various industries like media, telecom, retail and CPG. “Most of these clients were already working with some or the other vendors and have shifted to Convergytics. This is a sign that our proposition is well accepted by the clients,” adds Santosh.
In last nine months the company’s revenue has grown by 176%. At present, the company has 23 employees, and the team is expected to grow to 50 employees by the end of 2014.