The Indian textile and garment industry is a major player in the national economy and contributes 4% to India GDP. It is the second largest employer after agriculture. With fashion and lifestyle industries thriving, the founding team at Threadsol Softwares Private Limited namely Manasij Ganguli, Mausmi Ambastha, Abhishek Srivastava and Bratish Goswami created intelloCut – a software solution that saves fabric, time and labour. We chat with Mausmi Ambastha about the Venture. An Excerpt from the Interview: • What made you start your venture? I have been associated with the garment industry for past 8 years and during this period I realized that there is a dire need for advanced and practical software that can optimize usage of fabric. Fabric is the most important raw material and is 70%-80% of the garment production cost. Saving 1% – 10% fabric has a huge effect on the overall profitability of the company. India has more than 30,000 factories producing $30 billion exports and $60 billion domestic garments. It is expected to grow to $220 billion overall by 2020. The world has around 150,000 factories producing a total of $660 billion garments, which is expected to grow to $1 trillion by 2020. Taking in the other verticals of leather / inflatable / upholstery / footwear / home furnishing manufacturers, the market size is even larger. So, with the aim of boosting the sewn products industry by saving fabric, labour and time in an efficient and smart way we brain stormed and performed a critical market analysis on the competitive landscape, market entry, growth scenario and the future prospect. Looking at the potential market opportunity, we decided to materialize the concept and founded Threadsol Softwares Private Limited and developed a revolutionary product ‘intelloCut’. With another product ‘intelloBuy’ in line for launch and new offices in Istanbul and Colombo, in just two years since inception, we aim to be the go to company for all intelligent solutions. • What has been the key to your business’s success? The rapid adoption of intelloCut is due to its scientific sales model of proving the benefits in pure numeric form. This is achieved by comparing the manufacturers’ historical data with intelloCut suggested results that prove extremely quick ROI. While building the product we were very conscious of the fact that it has to cater to all practical and on floor scenarios. We were associated with the leaders of garment industry to get first hand user feedback and to ensure that the direction of the product is correct. We put in a lot of effort in developing our screens and tweaking the look as per the user feedback to ensure they resemble the way production floor documentation works today. The idea was to minimize the learning curve of the end user. Even today our product development plan is highly guided by the user feedbacks and we ensure that we give our clients the best service. • What are the major challenges in your line of business and how did/do you overcome them? The major challenge, that we had to face, was to make our team understand the intricacies of the garment industry and the production floor processes. We are very proud that we have overcome these challenges very well. We took our entire software development team to production floors for trials to see how the whole process worked. Today each member of intelloCut irrespective of their department completely understands the product and how it works on the production floor. They are capable of running a software trial and explaining the concepts to a core production floor person. This helped us immensely as everyone started to view the product from an end user perspective. This gave us focused approach and smoother communication within the team. • Do you have a mentor who guides/advices you on matters of the business? Strangely for us, there has never been one person who has mentored or guided us on the matters of business. But having investors like Blume Ventures and Mr. Rajan Anandan is a boon. They truly are present at every step to help us and guide us in matters that deviate from our reach. • Have you benefitted from the use of any specific technology for your regular operations? Our development team essentially tries to work on open source technologies resulting in lower costs for the company. This also ensures that our customers do not require any high end auxiliary platforms in order to run and maintain our products. For instance, our product runs effectively on all web browsers and we recommend Firefox as Firefox is cutting edge yet free. • What strategy do you follow for Customer Satisfaction and Expansion? Being in a B2B startup is tough business. It is essential to build strong customer relationships. To ensure customer satisfaction, each customer factory is allotted a one point contact in the company to take care of all their queries and concerns. Regular audits and training sessions are conducted in the company even after the product is implemented to guarantee efficient running of the systems. At intelloCut, we consider customer feedback the inspiration for development. All feedback is taken into account when an updated build is pushed out for existing and new customers. • What, according to you, are the top 3 skills needed to be a successful entrepreneur? Starting a business is an ultra-marathon. You have to be able to live with uncertainty and push through a crucible of obstacles for years on end. The trick is to continually train for the marathon. To get out of bed every day with undying optimism, to strategize and work hard for every race in order to win it. Visit their Website: http://www.intellocut.com/ Like them on Facebook: IntelloCut
2014-12-08 00:00:00 2014-12-08 00:00:00 https://quickbooks.intuit.com/in/resources/quickbooks-business-of-the-week/featuring-threadsol-softwares-private-limited/ QuickBooks Business of the Week English https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/IntelloCut-Founders.jpg Featuring Threadsol Softwares Private Limited
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.