The coronavirus pandemic has introduced dwelling the truth that micro, small and medium enterprises should leverage know-how to outlive and thrive. They usually’re slowly stepping on to the digital path, aided by different small companies like them.
This week, SMBStory related with Bengaluru-based Spoton Logistics and AlignBooks, that are serving to MSMEs align their logistics and compliance necessities through the use of know-how.
Additionally, learn the inspiring journeys of Rishabh Chopra, who constructed a D2C Ayurveda firm that clocked Rs 100 income in FY21 and Perception Cosmetics, a beauty model began by the son of a health care provider.
Abhik Mitra, MD and CEO, Spoton Logistics
Logistics firm Spoton Logistics not too long ago mentioned it was creating customisable options for the micro, small and medium enterprises (MSMEs) in India, together with retail merchants, to help the small companies amidst the COVID-19 pandemic.
The Bengaluru-based firm goals to succeed in over 22,000 pin codes throughout India, overlaying Tier I, II, and III cities, together with Delhi, Chennai, Ranchi, Patna, Ambala, Hyderabad, Bengaluru, and many others.
Talking to SMBStory, Abhik Mitra, Managing Director and CEO, Spoton Logistics, mentioned, in contrast to giant firms, MSMEs do not need huge logistics groups, however their necessities are equally vital. So, Abhik and his staff determined to leverage know-how to resolve this drawback.
He added, “The answer will enable them to position an order on the platform with out having to make a name, print the label, the consignment word, and observe it all through till it reaches the vacation spot. This fashion, SMB homeowners will get the whole lot achieved on their desktop with out having a military of individuals to hold out this course of.” This service may even embrace return objects processes.
Spoton has leveraged varied applied sciences, together with synthetic intelligence (AI) and machine studying (ML) whereas constructing the backend to make the portal seamless and handy for MSMEs to make use of.
AlignBooks cofounder Anand Jajodia
In April 2021, the Ministry of Company Affairs prolonged its deadline by a 12 months for Indian companies to put in accounting software program with audit path options. This transfer, over the following few months, is aimed toward pushing Indian MSMEs in the direction of a digital future.
AlignBooks, a cloud-based accounting software program for MSMEs, is poised to faucet into the development and assist small companies simplify their e-invoicing, GST, and different compliance necessities in an automatic and digital-first method.
Anand Jajodia, Co-founder, AlignBooks, says, “MSMEs haven’t had the privilege of getting enablers and supporters who might help them in a fashion that they may solely give attention to their core enterprise energy, somewhat than worrying about back-office capabilities. Towards this backdrop, AlignBooks was conceptualised and launched in 2017.”
Anand, who has expertise in creating and deploying ERP merchandise, determined to offer MSMEs with a tech-based, strong accounting resolution and in addition allow them to customize it. This laid the inspiration for AlignBooks, together with co-founder Samir Garg.
At the moment, Anand claims the software program has over 30,000 MSME prospects in India and has processed 15 lakh invoices to this point.
Different prime tales of the week:
Dinesh Jain, Founder, Perception Cosmetics
Dinesh Jain was only a little one when his father Bastimal Jain began a small beauty manufacturing unit making merchandise like sindoor, nail polish, talcum powder, and many others. within the late Seventies. Bastimal, an MBBS physician, arrange the enterprise in Borivali, Mumbai, in partnership with a chemist buddy, to attempt his luck at entrepreneurship.
Dinesh typically visited the unit after faculty, keenly observing the every day operations. And a few years later, within the late 80s, whereas nonetheless in school, he bought concerned within the enterprise full time.
Now, over 35 years later, the small manufacturing unit has scaled as much as grow to be Perception Cosmetics, a make-up model for the lots with greater than 350 stock-keeping items (SKUs) and a presence in over 7,500 shops pan India.
In an interplay with SMBStory, Dinesh talks about how he took over the reins of the enterprise to assist it thrive in a beauty business that’s valued at over $20 billion, competing with the likes of Blue Heaven, Elle 18, Coloressence, Lotus Herbals, and extra.
The Ayurveda Expertise
Rishabh Chopra, Founder, The Ayurveda Expertise
By 2010, Rishabh Chopra had travelled to about 26 nations. Throughout his travels, he realised that Indian concepts and philosophies have been keenly checked out and consumed within the worldwide market.
Rishabh, who used to market and promote programs on Indian and Japanese philosophies within the US, realised that there was a requirement within the international marketplace for sources and training about Ayurveda.
Changing into an entrepreneur was all the time on his thoughts, and seeing the hole within the worldwide market, which didn’t have main Ayurveda gamers, made him ponder deeper. “I requested myself, ‘If Yoga might grow to be so huge, then why not Ayurveda’?”
In 2014, Rishabh launched The Ayurveda Expertise as a content material platform, and in 2017, he ventured into the manufacturing and promoting of Ayurveda merchandise.
The Gurugram-based firm was incubated by the Indian College of Enterprise between 2011-2012. Initially, it raised cash from Angels between 2012-2014. Later, it raised Rs 4 crore in 2016 by means of a syndicate led by Mohit Satyanand by means of funds like LetsVenture. In reality, in 2018, it obtained funding value Rs 25 crore from Hearth Ventures and Rs 10 crore from the personal fairness arm of Centrum Group.
The corporate clocked Rs 100 crore in income in FY21 regardless of the pandemic.