Bringing in more than a decade of experience in Business management, Leadership, Heading company operations and Business development & strategy, Prashant Mitta, an MBA from NMIMS, started up TechnInventio in mid-2009 with an aim to provide products and solutions to a variety of industry verticals. TechInventio has an impressive client list with companies from niche businesses across verticals. Yourstory.in caught up with Prashant for more about TechInventio. Edited excerpts:
Tell us about TechInventio.
TechInventio is an End-To-End Product Development Company providing innovative products & technology solutions to the global end-user markets and help them transform and scale their business to the next level of growth.
TechInventio provides products and solutions to a wide range of end-user markets from diverse industry verticals that includes Manufacturing, Transport & Logistics, Travel & Hospitality, Retail & Wholesale Distributio and Pharma among others.
What is the core competency of the team at TI?
TI’s core team members come with high-end technology expertise and experience. The team has to its credit developing many commercial products & solutions for wide range of industry verticals to releasing a full-fledged commercial product for SMEs and MNC companies and providing full life-cycle implementation and support to their businesses.
The team is highly acquainted in building wide range of products like CRM, SCM, BPM, EAS (Enterprise Application Suite) and also building many products right from the concept/ideation stage to the launch of the product. The team has very good expertise on the latest development platforms like .NET, Microsoft SilverLight, Microsoft SharePoint Server & Sun Technologies.
What made you confirm your belief that a need for something like this would perform?
We did a survey before starting up it emerged that the end-user businesses were fast becoming more competitive day-by-day and most of them exported their products to different parts of the world resulting in tighter quality norms and required higher efficiency and productivity and primarily this was the reason they were looking to invest and leverage on innovative technologies and products with cost effective business applications which would help them scale to the next level. Finally, after nearly a year of brainstorming, we decided to go ahead with TechInventio.
How was the company funded?
TechInventio is a bootstrapped technology company, as a company the founding team had initially put in investments worth few lakhs but with our efforts and a little bit of luck we were able to build a good client base very early in our journey and this has surely helped in the growth of the company.
What are views on the cloud and when did you decide to start offering services on the cloud?
Cloud Computing is often referred to as a Technology. However, it is actually a significant shift in the business and economic models for provisioning and consuming Information Technology that can lead to significant cost savings.
We decided to start offering services on the cloud while developing our flagship product SME Analytics. SME Analytics is developed in association with one of our clients. The product is being targeted to end-user businesses across the globe and even in TIER 2 & TIER 3 cities in India.
What is your revenue model?
TechInventio’s revenue model is based on 4 main business lines which are explained below;
- New & End-To End Product Development- Product conceptualization, Dev & Testing, Product implementation &deployment, Product release & license management, Product Packaging & Product launch, Maintenance & Support.
- Products Business Unit- Our flag ship products SME Analytics & CNC Scheduler.
- Enterprise Business Solutions- Microsoft SharePoint Server, BizTalk Server, CRM & ERP & Microsoft BI Platform.
- Cloud Service & Solutions- TechInventio partners with Microsoft to provide both private and public cloud solutions and services. These solutions include Office 360, Azure, SharePoint, and Exchange Server
The above solutions and products fuel the majority portions of the revenues for TechInventio which is derived out of clients from India and too an extent from European countries.
What are your plans from here on in?
First and foremost we are looking forward to release the full-fledged version of SME Analytics by April 2012 and start approaching customers in India and Middle-East to start with and further customize the product to suit other countries. We also want to further strengthen and expand our technology expertise in cloud, mobility & SharePoint to widen our services & solutions.
We are in plans to build a strong Client facing Team which will include a sales team and technical accounts managers. We are also looking to raise capital through angel funding to fuel our next level of growth. And to achieve all this, we would continue to be highly passionate and work hard towards our company’s vision and the results would follow.
We wish TechInventio all the best and more about them can be found out here
- Jubin Mehta