Today we spoke to Vaibhav Vasa, Director and Co-founder of Biz Analyst to understand how it is empowering small businesses digitally to transform their operations through Biz Analyst innovative solutions.
Here is full expect:
TechGraph: Can you tell our readers more about Biz Analyst?
Vaibhav Vasa: Biz Analyst is a mobile application that securely syncs with Tally.ERP 9 software, and through it enables its users to real-time business data access, even if the software is offline. It is available on both iOS and Android and is currently being used by over 70,000 businesses across India, UAE, Africa, and Singapore.
MSMEs and business owners are often worried about running their business, sales, outstanding, inventory, expenses, profitability, etc. With the lack of the right tools to manage and keep track of these business activities daily, it becomes even more difficult. Through its secure SaaS technology, Biz Analyst empowers small businesses digitally to transform the way they operate. Thus, solving daily problems faced by them and also helping them to grow the business strategically.
TechGraph: What makes Biz Analyst different from others Who are already in this business?
Vaibhav Vasa: While working with international MNCs, we saw that one of the reasons for their continuous growth is the use of data analytics. MSMEs in India, on the other hand, is trying hard to grow their business but don’t have enough time, manpower, reporting tools to analyze their business performance regularly, which is why they end up making decisions without using data or through gut feeling.
Most of the Directors / CEOs we spoke with did not have answers for the gaps in their business, why the sales are going up or down, which products are selling more or less, which ones are more profitable, how can they improve their cash flow and most importantly, how to reduce the outstanding.
With Biz Analyst, the idea was to be the ‘analyst’ working for these MSMEs and provide them with key data, reports & information that they need on a daily basis which will help speed up their communication with the customers, reduce the dependency on systems, help make smarter and faster business decisions and most importantly make their life easy.
Currently, we hold more than 90-95% of the market share in the segment we are in. Very few apps offer services similar to ours. We often introduce features that are highly requested by our customers and thereby not only helping our customers but are also advancing as a SaaS entity.
We provide the best user experience and have been rated 4.5 on the Play store by our customers. Our unique CRM features that focus on speeding up business transactions and improving efficiency sets us apart.
With our 1000+ channel partners across India and internationally, we are able to reach the most remote and inaccessible areas and provide services where it is needed the most.
Our excellent team of customer care executives offers services that transcend language barriers. It is essential to understand that in India the communication can’t be ‘one-size-fits-all’. With this in mind, we provide training videos on our YouTube channel in multiple languages and regularly have interactive webinars with users to understand their needs and solve their issues.
TechGraph: What are the industry challenges you have observed, that concerned you to jump into this space?
Vaibhav Vasa: My business partner and I were working in the USA when we realized the potential in the use of data analytics for business growth which MNCs use. While working on a project to create an effective working solution for a business owner in Pune, we saw the struggle of an MSME business owner in getting relevant business numbers and figures from the accountant.
This pain point would not have occurred if it was possible for the owner to himself understand and get access to his business data in a simplified manner. A business management platform would have easily connected the dots here.
Thus, came the idea of Biz Analyst that connects with Tally to provide real-time reports on mobile to business owners, Sales & Marketing teams. MSMEs are the backbone of the Indian economy, according to a report in ‘The Wire’, India has about 90.19 lakh registered MSMEs that employ over 11 crore workers and they contribute 29% of India’s total GDP. So, the idea was to create a one-stop solution app that can synergize with different ERP software, starting with Tally.
What started as a dedicated mission of enabling MSMEs to grow their business, speed up day-day execution, make data-driven decisions has now graduated to providing Automate Business Processes.
Our first step towards bridging the gap in the digital transformation segment for small businesses and we have so far been able to bring in 70000+ businesses.
TechGraph: What according to you is the scope of the SaaS business management platform in the Indian Market?
Vaibhav Vasa: Initially, MSME owners had a very different mindset and were reluctant to spend on software solutions which they considered to be an unnecessary expense and not an investment. We also observed that some business owners initially saw SaaS modules as a recurring expense and preferred to pay a 1-time cost with minimal renewal charges. However, now things have changed and there is an acceptance for the SaaS model as a low entry cost.
That helps them try out new and different solutions without worrying about long term investment and focus on what their business needs. This has led to ever-increasing demands from the emerging industries, due to which the Indian SaaS market is slated to grow to over $20 billion in 2022 from around $6 billion in 2019.
SaaS is a versatile delivery model for software applications and offers some very distinct advantages. Indian companies have found immense success in the country as well as globally and have been instrumental in driving significant change in the ever-changing tech ecosystem.
In the Indian market, SaaS is viewed as an opportunity for you to drive more efficiency in your business and chase those revenue goals you’ve set for yourselves with minimal investments and the advantage of the best in class systems that run with minimal investments and infrastructure.
TechGraph: While doing research our editorial team stumbled upon that, there are different solutions offered by Biz Analyst. Could you please shed some light on this?
Vaibhav Vasa: Biz Analyst is designed to help MSMEs run their business efficiently. So, our solutions are catered towards increasing sales, productivity, and cash flow which in turn increase profit and facilitates growth. Our various features provide businesses with the respite they need.
Sales
● Sales Analysis – Helps plan strategies that improve sales
● Top Report – Focus on key customers & items and in turn increase sales
● Inactive customer – Regain sales from your acquired but currently inactive customers
Productivity
● Check-In & Check-Out – Track your sales team during sales visits and help increase their productivity
● Data Entry – Create & share entries from the App and speed up transactions
● Set Follow up Reminders & Assign Tasks – For new sales, outstanding or any other business activities
Cash Flow
● Outstanding Receivable – Send reminders to single/multiple customers and get paid on time
● Inactive Items – Reduce your dead stock
● Live Inventory – Take the right orders from the customers.
TechGraph: A lot has changed in the last six months, what changes did you witness during this phase?
Vaibhav Vasa: The last six months has changed the way we do business and necessitated a new method of working. This new way is powered by technology that is expected to make our lives easier, work faster, and deliver better results.
Businesses now are much more open to going digital and having a chunk of their operations and management online. This is a testimony that India is getting used to the new way of doing business. Many business owners have realized that in times like these it is vital to have all your business data at your fingertips. Our government (Indian Government) declared technology as a key pillar of growth for MSMEs.
This is where apps like Biz Analyst come into play. In the current scenario, people have been using Biz Analyst more than ever because this application helps users not only work remotely but also manage their business from anywhere, anytime.
TechGraph: What is the roadmap for Biz Analyst going forward?
Vaibhav Vasa: The plan is to open ourselves to providing broader solutions to MSMEs & solve other challenges they face regularly. The last few months have paved the way for the need for business automation and ease in business functioning, which technology brings in.
This is a project that we are keen on working along with working on connecting businesses that will help them improve their overall functioning. Providing them with a complete solution would be a great challenge to solve and at the same time connect with other ERP software to provide business analytics solutions to them as well.
Lastly, we already have started working on Data Intelligence & AI to provide enhanced experience & providing users with more actionable reports & information that would take them to the next level of doing business.