Technology and economic development complement each other. The rate of economic growth can only be increased by technology. With the help of technology, it has been possible to make discoveries. Therefore, technological advancement is the main basis of economic progress.
India has become an important source of creative and fundamental technology development. All the great scientific discoveries and technological achievements have improved the Indian economic situation in our country and have created many new ways for the new generation to develop a technologically advanced environment.
aSaw is one of the top companies that are adding speed to the technological revolution across India with their unique offerings.
In a conversation with, Ms. Archna Wadhwa, Founder and CEO at aSaw, we talked about the current industry scenario and how aSaw is transforming the businesses of its clients.
- Tell us about the company.
I set up aSaw in the year 2015 with a vision to work with corporates and help them monetize their data. Around the same time, a huge amount of open-source data was getting generated which was largely untapped and we built our competency around it. Through our constant technological innovations, we have developed many of our products in RegTech and in automating processes to help businesses reduce operational costs.
We offer analytical service in the area of building Machine Learning application, Business Intelligence, Digital Transformation, Operational Excellence and Market Research.
Over the last 5 years, we have worked with top Fortune companies and have received many innovation awards. With regards to our operational model, we have a capable in-house team working alongside Subject Matter Experts, our Partners and Advisors for the Delivery and Growth of the company
- What were the initial challenges you faced?
When I resigned from my job in London and thought of setting up aSaw, I just had 10K pounds in my bank account and from thereon, I invested around 120K pounds. Managing Cashflows is the biggest challenge for any entrepreneur, and that is a continuous challenge along with acquiring new customers, building long term relationships with your existing clients, building a unique proposition for your products and services and a good team
- Which was that point that triggered the growth of the company?
Getting the first client is an important milestone for any company: and when we got ours after 9 months, it gave us the hope and belief that we are on the right path.
- How has the company graphs changed since the foundation? Can you share a few statistics?
The company is operationally profitable for the last 3 years and has grown more than 50% since inception. We have eight-figure revenue YOY. We have partner offices in 3 continents.
- What is the reason behind your company’s long-standing success?
Perseverance, innovation, commitment, and Integrity along with a good team.
- What are the products/services the company focuses on? How are your services different from those in the market?
We sell Software as a service (SaaS) and our products are SPyDER for Enhanced Due Diligence, NEWSpY for real-time fact gathering, CoLander for automated document review and interpretations, and SOLDiT for generating quality leads.
Trust in dreams, for in them is the hidden gate to eternity.Khalil Gibran
Our products are in the areas of automation and improving operational efficiency. We have used advanced Machine Learning algorithms in our proprietary products. We offer analytical service in the area of building Machine Learning application, Business Intelligence, Digital Transformation, Operational Excellence and Market Research
- How do you decide to take the company a step further in terms of your products/services?
We are planning to enter the Middle East and the Canadian market in the year 2021. We will continue to work to make our products relevant in multiple markets by making it multilingual and having local partners.
- Is there any new addition to the list of products/services? Anything exciting you would like to share?
We are launching a new product in January next year for the Indian market, details for it cannot be disclosed right now. The company has sold an Edtech platform earlier this year and is constantly developing cutting edge products.
- According to you, how has technology taken over the traditional way of business?
Despite the pandemic, most businesses are running, thanks to the technological advancements in businesses and process automation. With good connectivity, cloud infrastructure, digital businesses, mobile payments- the impact of the pandemic is not very harsh as our essentials are taken care of. Technology is the wave everyone needs to ride on. You would see a change in work culture going forward as employees need not be present in offices and the new normal would prevail to a large extent.
- Can you please brief us about your professional experience?
I come from the BFSI sector and have worked earlier for companies like GE Capital and HSBC: Did an MBA from IIT Kharagpur and a Bachelor of Engineering from Punjab University.
Before setting up aSaw, I had the opportunity to work in many global roles across geographies and in my last role, I was Chief Data Officer of HSBC based out of London. All this experience came in handy to set up my company 5 years back.
- What are the key achievements of your entrepreneurial journey?
Making the company profitable, client success, innovative products & services and helping in job creation. On the personal front, the entrepreneurial journey has helped me to get more peace, fulfilment, flexibility, and family time.
The company has won many accolades and awards over the past 5 years and most importantly we have survived this pandemic successfully.
- How do you look after your employees? What makes your team unique?
By giving the team many opportunities to learn and work across businesses and verticals. In aSaw, they get a lot of freedom and flexibility on the job.
We look for the right fit for the company as our team needs to wear many hats to accomplish the company’s goals. I am happy with my team’s performance who are giving their best in these turbulent times of the pandemic.
- Is there any special experience with your clients you would like to highlight?
Something I am really grateful for is our client’s advocacy towards us – they keep putting in a good word about us in the industry which has helped in getting new clients. You can’t ask for more ….
- One person, who you admire the most?
The world is full of accomplished, kind and good people and I admire many of them. I learned optimism from my dad, perseverance from my mom, and my daughter inspires me to be a better person every day. I am thankful to my mentors, friends, extended family and colleagues with whom I have worked for over 20 years and consider them as my family for standing by me in good and bad times.
- Whose business story do you find the most inspiring?
Elon Musk, without a doubt. He is inspiring and most commendable skills he has is his genius, innovation, and execution. He has built a diversified empire of very successful companies and if I achieve even 5 per cent of what he has achieved, I would say mission accomplished …(smile).
- Constant vigilance- a need or a strategy? Please share your views.
The fast-paced change in technology makes a compulsive case to be vigilant.
I am quoting Peter Drucker – “The greatest danger in times of turbulence is to act with yesterday’s logic.”
Vigilance is the need of the hour in these testing times. There is no precedence to this pandemic in the last 100 years. Companies need to be continuously innovating and pivoting to stay relevant in the business.
- It’s a rat-race out there. How do you cope with that?
It’s a personal choice – I don’t want to be a part of the rat race