Lakshmi Narasimha Moorthy, NicheBees: ERP & supply chain solutions for manufacturing industries

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Lakshmi, please tell us what NicheBees is all about.

NicheBees delivers technology enabled business solutions for manufacturing industries including automotive and high-tech electronics verticals. We help business by working on key value drivers like reducing inventory cost, resource optimization, and shorter lead times to satisfy customer demand using ERP and supply chain solutions. NicheBees’ mission is ‘customer advocacy through value innovation” with an employee-first philosophy.

How is NicheBees different from other enterprise solutions firms? What are your flagship solutions?

We create value for our customers by engaging them through a “customer value package”. This engagement model gives the customer complete clarity of their requirements and predictable cost for the value being delivered. This model allows us to be transparent with our customer during our sales cycle and establishes increased trust level with our customers at the sales cycle itself. In fact, more than 40% of our sales is through repeat customers and we sign with new customers through reference from our existing customers.

How did the business idea for NicheBees come about? How much capital was required to implement the business idea?

I had been working with Baan (currently Infor) and my co-founders (Sanjiv, Rehanesh, John) were also from the same company. Sanjiv and Rehanesh and I chose to work for a European startup company (coMakeIT, later spun off as coServe Solutions) to set up their ERP services business unit. We learnt the process of setting up a business and running it successfully while working at coMakeIT.

In late 2009, we decided that we needed a different platform to pursue our interests professionally for various reasons. We then started NicheBees with a vision of setting up solutions and services organization in the specialist segment of business solutions, like niche domain skills, niche solutions, niche market problems to be addressed.

We started with a total capital of Rs.15,00,000/- which we got by putting in our life savings and with the help of a good  number of people (both employees and customers) who trusted us and wanted to be part of our dream.

Who is your target audience?

Our target audiences are those manufacturing industries that are having problems with their ERP system, or those that have stabilized their ERP and are looking for ways to further optimize their supply chain and operations. We help our target customers by increasing operational efficiency, agility and transparency in their supply chain.Tell us about your background.

I am currently the CEO of NicheBees and I have about 14+ years of experience in selling and consulting domain specializes in supply chain management. I am a graduate of the PSG College of Technology, Coimbatore. I have worked with worked with Baan (currently Infor) for more than 7 years.

Where do you see NicheBees five years from now?

We have a vision for NicheBees to be the provider of solutions and services in the areas of supply chain performance and manufacturing domains, leveraging new technologies like cloud and mobile. We want to see NicheBees to be recognized as a specialist player in providing solutions and services in the Sustainability domain.

What is NicheBees’ revenue model?

Currently, our revenue is generated by delivering services.  We generate revenue through implementation services, optimization services and long-term support.

We manage our funds through the cash generated from our operations and loans taken from friends. We are looking for funding through debt instruments for our expansion plans.

How big is the team behind NicheBees? Are you looking at hiring?

We are currently 18 member team. We have diversity in terms of backgrounds, from engineers to MCAs. We have domain experts who have worked extensively in the industry.

Sanjiv Raghavan, our chief strategy officer, Rehanesh Harindhranath, our COO, John Vincent our VP of product development and I are the co-founders of NicheBees.

We are looking to hire candidates who have worked in the industry. We’re looking at people with business solutions experience and also, people experienced in sustainability domain.

How has the journey been so far? Let us know about your expansion plans.

The journey so far has been good. We currently have 8 customers spread across ASEAN, Middle East, US and Europe. We are the only partner to provide Infor advanced planning and scheduling solutions in the ASEAN region. For the year 2011-2012, we want to cross USD 1 MN in revenue and also diversify into new initiatives. In 2009, we started NicheBees from a small apartment. This July, we are moving into an office space near HITEC City, Hyderabad.

We are expanding our offerings to provide to offshore product development services and develop cloud-based solutions targeting sustainability domain apart from our current business solution services. These three offerings are delivered through three business units namely, professional services business unit, R&D services business unit and solutions business unit.

We at YourStory.in wish Lakshmi and the entire team at NicheBees much success. To know more about this venture and their enterprise solutions, check outhttp://www.nichebees.com/. Also, let us know your views on this story by writing to us at feedback@yourstory.in.

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