“We train cus­tomers to sell”

In a one-on-one con­ver­sa­tion with PC Quest, Sne­hashish Bhat­tachar­jee, Global CEO & Co-founder of De­nave, talks about how his com­pany has evolved to built multi-in­dus­try cross-ge­og­ra­phy ex­per­tise

PCQuest - - TECH TRENDS - –Anushruti Singh anushrutis@cy­ber­me­dia.co.in

Give us some in­sights on De­nave jour­ney of 18 years in the in­dus­try? We are an or­ga­ni­za­tion that is fo­cused es­sen­tially on sales – the only thing that will never go out of fash­ion. The com­pany was founded 18 years ago to fill the gaps be­tween strat­egy and ex­e­cu­tion by pro­vid­ing end-to- end sales en­able­ment so­lu­tions. We be­lieve in mea­sur­able im­pacts and hence, we never lose fo­cus of the fi­nal ROI op­ti­miza­tion which we gar­ner by lever­ag­ing peo­ple, pro­cesses and tech­nol­ogy. Over the years, we have built mul­ti­in­dus­try ex­per­tise part­ner­ing with global busi­nesses and adopt­ing a so­lu­tion-fo­cused ap­proach to de­liver best prac­tices in sales. With de­liv­ery cen­ters in In­dia, Sin­ga­pore, UK and Malaysia, De­nave has a reach span­ning 5 con­ti­nents, 23 coun­tries and 500+ cities glob­ally. With fo­cused sales method­olo­gies, we are gen­er­at­ing in­cre­men­tal rev­enues for some of the largest brands in the world. De­nave has tra­versed the evo­lu­tion from an In­dian to an Asian to now a global en­tity – in sync with the evo­lu­tion of the con­cept of sales en­able­ment. With tech­nol­ogy- backed ser­vices and of­fer­ings, our big­ger goal is to be­come world’s largest Sales En­able­ment or­gan­i­sa­tion. As for a near-term goal, when we look at 2020, we are aim­ing to be­come a USD 200 mil­lion or­gan­i­sa­tion, while grow­ing al­most 6 times our cur­rent size.

How do you de­fine your mar­ket and what is your present share in the same?

Given the na­ture of our ser­vice, we cut across in­dus­try sec­tors and are not bound by the geo bound­aries as

well. Hence, the mar­ket po­ten­tial is huge – Af­ter all, sales is a com­mon el­e­ment across busi­ness en­ti­ties.

How­ever, there is no player in the in­dus­try which re­ally ad­dresses all as­pects of sales en­able­ment in its en­tirety. De­spite that, the fact re­mains that we op­er­ate in a mar­ket that has a huge po­ten­tial for sales en­able­ment, par­tic­u­larly ow­ing to the di­verse set of of­fer­ings which it en­com­passes. Ac­cord­ing to us, glob­ally the To­tal Ad­dress­able Mar­ket ( TAM) is as huge as over USD 600 bil­lion. Look­ing at the Ser­vice­able Ac­ces­si­ble Mar­ket (SAM) which looks at the in­dus­tries we op­er­ate across mar­kets where we are present, the op­por­tu­nity is over USD 250 bil­lion. Even the Ser­vice­able Ob­tain­able Mar­ket (SOM) presents a po­ten­tial of USD 30 bil­lion glob­ally – which re­flects that we are cur­rently only lever­ag­ing a minis­cule mar­ket po­ten­tial that ex­ists.

What are the ver­ti­cals you are present in? Are you plan­ning to tap any new ver­ti­cals re­cently?

We are a self-funded or­ga­ni­za­tion that has grown com­pletely on its own with­out any ex­ter­nal fund­ing. We started with tech­nol­ogy as our fo­cus, how­ever, with time, we have evolved and for­ayed into mul­ti­ple in­dus­try seg­ments. Go­ing by the se­quence, with tech­nol­ogy as chief fo­cus, we first got into tele­com, churn­ing out de­cent trac­tion in past 8-9 years. Af­ter that we also moved into FMCG and Re­tail, wherein we have a fairly large con­sumer base and re­cently we have also en­tered into ONG sec­tor. Apart from the ex­ist­ing ver­ti­cals that we have, this year in In­dia we are also look­ing to tar­get BFSI and Au­to­mo­bile, fo­cus­ing on SMB pen­e­tra­tion as one of our new of­fer­ings. Even in tech­nol­ogy do­main, which is our strong­est ver­ti­cal, we are al­ready work­ing with 7 out of 10 ma­jor tech­nol­ogy brands al­ready.

Brief us about your R&D cen­tre?

Our R&D cen­tre is in Noida it­self, a team of 30 tech­nol­ogy in­di­vid­u­als, headed by Mr. Prashant Ro­hatgi, who is lead­ing the tech­nol­ogy ver­ti­cal at De­nave. We have sev­eral tools for car­ry­ing out sourc­ing, prob­a­bil­ity map­ping, driv­ing sales en­gine with in­ter­nal CRM plat­form and also for ex­pe­ri­enc­ing sales au­toma­tion (mo­bil­ity plat­form based on sales force au­toma­tion for real-time re­port­ing, in­for­ma­tion cap­ture and dis­bur­sal) - all of these act as our in­ter­nal en­ablers. Our Tech team’s char­ter is to – con­nect all the dots and stream­line these tools into one plat­form in or­der to build in those fu­tur­is­tic tech­no­log­i­cal ca­pa­bil­i­ties for us which will in turn help us re­duce the man­ual in­ter­ven­tion.

“We are a self-funded or­ga­ni­za­tion that has grown com­pletely on its own with­out any ex­ter­nal fund­ing. We started with tech­nol­ogy as our fo­cus, how­ever, with time, we have evolved and for­ayed into mul­ti­ple in­dus­try seg­ments”

How im­por­tant is do­main knowl­edge for De­nave? What are your thoughts on sec­tors like e-com­merce?

Do­main knowl­edge is cer­tainly im­por­tant as you can’t strate­gize or act in an en­vi­ron­ment where you are un­aware of the en­vi­ron­men­tal dy­nam­ics. Hav­ing said that, if the core sales en­able­ment com­pe­ten­cies are in place, ac­quir­ing do­main knowl­edge is not that dif­fi­cult to act as an en­try bar­rier. En­try bar­ri­ers are en­ti­ties like plat­form and pro­cesses, which we have al­ready ac­quired over the last 18 years.

We have had cus­tomers in the e-com­merce seg­ment in the past and now also, we are work­ing with most of the emerg­ing E-com­merce play­ers to en­able their sales pro­cesses. This we do by help­ing them ac­quire mer­chants and ac­quire cus­tomers, while mak­ing a dif­fer­ence in their sales func­tion.

How many cus­tomers do you have on the ex­ist­ing ver­ti­cals? Also have you iden­ti­fied in­dus­trial clus­ters?

Our cus­tomer base cuts across mul­ti­ple in­dus­tries. In the past 18 years, we have worked with 700-800 big cus­tomers. Typ­i­cally, on an av­er­age, we work over 100 cus­tomers who are live with us at any sin­gle point of time. Also, when we start work­ing with any big or­ga­ni­za­tion, their sub­sidiaries au­to­mat­i­cally be­come our cus­tomers. That way, we have huge op­por­tu­ni­ties in terms of cus­tomer base. We work with the some of the big­gest in­dus­try names and we take pride in es­tab­lish­ing best-sell­ing prac­tices through the en­tire value chain which in turn drives in­cre­men­tal and op­ti­mal re­turns for them. With com­pe­ten­cies such as SMB pen­e­tra­tion, driv­ing cloud adop­tion, geo-ex­pan­sion, part­ner man­age­ment etc. we cater tai­lor-made so­lu­tions to com­pa­nies across the in­dus­tries glob­ally.

Be­ing a highly ser­vice-led or­ga­ni­za­tion, cur­rently we are work­ing with every other small, medium or large size or­gan­i­sa­tions. How­ever, right now we

do not have great ser­vice of­fer­ings for the startup or­gan­i­sa­tions wherein the abil­ity to fund the cus­tomers are low. Our ma­jor clien­tele fo­cus re­mains For­tune 500 com­pa­nies.

When you talk about tools, are there any train­ing ses­sions for the cus­tomers? Is the train­ing rel­e­vant for sales peo­ple?

As of now, the tools that we en­hance the sales pro­cesses with are our en­ablers i.e. peo­ple, process, tech­nol­ogy and in­no­va­tion – all of them help­ing us in en­abling sales through­out the busi­ness ecosys­tem. For peo­ple or the em­ploy­ees (in­ter­nal), we have an in-house de­vel­oped plat­form, i.e. DenQuest, which is pre­dom­i­nantly our own e-learn­ing por­tal, cater­ing train­ing to our own ecosys­tem. This, in turn, speeds up and train our em­ploy­ees upon the in­tri­ca­cies of var­i­ous ser­vices, in or­der to en­hance the de­liv­ery of those ser­vices.

For cus­tomers, we cre­ate the strat­egy and then im­ple­ment that strat­egy. For the same, we have a train­ing team on­board in or­der to train the sales peo­ple and en­able the part­ner ecosys­tem so that they can be­come ca­pa­ble and equipped enough to de­liver to the cus­tomer’s com­mit­ment.

How do you cre­ate and im­ple­ment strate­gies for cus­tomers? How do you achieve rev­enue tar­gets on ba­sis these strate­gies?

We are global sales cat­a­lysts ad­dress­ing the real

world prob­lems in the sales do­main. In or­der to en­able sales for our cus­tomers, we en­sure that the brand’s whole ecosys­tem be­comes em­pow­ered. For the same, we of­fer a full gamut of Sales En­able­ment so­lu­tions, right from the strat­egy to an im­pec­ca­ble ex­e­cu­tion and ev­ery­thing that comes in be­tween.

In or­der to cre­ate and im­ple­ment the right strat­egy, we have iden­ti­fied cer­tain core com­pe­ten­cies nec­es­sary for a flaw­less ex­e­cu­tion within the mar­ket that we ad­dress, for ex­am­ple: Net new cus­tomer ac­qui­si­tion – a uni­ver­sal con­cern area for brands, Cloud sales and adop­tion – no player can af­ford to ig­nore this as­pect, Mar­ket ex­pan­sion/ geo ex­pan­sion and SMB pen­e­tra­tion – ul­ti­mate quest for every player, Rev­enue Max­i­miza­tion and Rev­enue Re­ten­tion – Aspi­ra­tional for every brand , Part­ner ac­qui­si­tion and de­vel­op­ment – more of a need than a choice, for sur­vival, Sales ecosys­tem de­vel­op­ment, Brand ac­ti­va­tion, Re­tail in­tel­li­gence and Sales au­toma­tion – for a holis­tic and im­pact­ful sales jour­ney.

For our own self, rev­enue re­ten­tion and max­i­miza­tion for­mu­lates a sig­nif­i­cant as­pect of the over­all strat­egy. On an av­er­age, every year, we carry for­ward about 85% of our rev­enues through long-term con­tract or con­stant re­newals. This abil­ity to build on ex­ist­ing base helps us in geo ex­pan­sion as well since we repli­cate that across the globe and this prac­tice has helped us in ex­pand­ing our cus­tomer base in those geos as well. This stepup con­trib­utes to al­most 200-250 crore worth of rev­enues. Also, by giv­ing our sales team a tar­get of 30% - 40% new busi­ness every year, we are able to achieve our tar­get growth.

Sankar Na­gara­jan Co-Founder and CEO, De­nave

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