by Paul Joseph
January 31, 2012
Featured
Over the years, investments in IT has facilitated large companies to manage data, files and information better, but that knowledge has not been extended up to a desired level to individuals and small business owners. This issue is being tackled by m9 Tech Solutions with their product ‘Oystor’. “Data today resides in many forms which make it difficult to manage. We see the need for secure point-to-point document transaction and retrievals and want to fill in that gap for businesses and consumers alike”, says Krishna Prasad, founder m9 Tech Solutions. We got in touch with Krishna to know more about Oystor. Key Features Omnipresence: Oystor is a secure online document and information management system that helps busy families and small businesses manage what matters most precious documents like birth certificates, education certificates, health records for the family or finance, legal, customers, employee records for the business. It is one place that is accessible anytime, anywhere from your PC. Scan: Every organisation or even a family has lots of vital information stored in paper documents. At Oystor, we strive to provide a robust solution that not only encompasses storing and sharing, but digitization services as well. Our partners will help to scan and upload your documents at their retail outlets or for businesses, onsite at your premise. Share: The Share aspect of Oystor makes transacting with your real estate, doctors, insurance agent or lawyer easy. You can quickly find the documents you need and share it with them. Store and simple search: Oystor is a safe warehouse where you can put in all your important files and documents with a sense of security. By simply filing your documents into common and intuitive categories and adding tags or details to them, search is pretty easy. Media also has a separate category. Other features include collaboration, centralized administrative console, enhanced search and total synchronization. Tell us a bit about yourself, your background and work experience. A true Bangalorean, graduated in commerce from St.Josephs College having more than a decade’s experience in Sales, Call Center Management, Operations, Business Process Improvement, Training, Logistics and prior to Oystor, was working with Dell as Supply Chain and Logistics Manager for India Consumer and Retail and am a certified PMP and Six Sigma professional. Where are most of your customers from? Oystor is already delivering value to a number of professionals and businesses. Oystor has been successfully deployed at law firms, accounting firms, design studios and IT companies. A good example has been that of Oystor being used as a billing system. Instead of mailing or emailing invoices, they simply upload invoices and other supporting documents onto Oystor and share it with their clients, logistics providers, accountants and employees. What was the technology used to build the platform? We use Cloud technology. It’s not so much about following trends as it was about what makes sense. The cloud is a smarter, sensible and more convenient architecture. It gives us flexibility to deliver a solution to a wider spectrum of users, be it enterprise, small and medium businesses or consumer. This technology, coupled with the rising capabilities of smart phones, tablets and laptops, helps ensure that everyone in and out of the office is able to access the most updated information. This is especially so with the way businesses are no longer bounded by the four walls of the office. There are a few other products with similar offering. How do you differentiate? It’s important to have documents and data readily accessible to facilitate important events such as University admissions, Property buying or selling, Loan applications, to name a few. These processes touch large corporations like banks as well intermediaries like lawyers, brokers and agents, as well as the end customer. Along with our technology and service partners, Oystor provides a single platform that allows Secure Storage Sharing (with access rights), Collaboration, and Workflows Business Networking And Information Management, all in the cloud. How does the revenue model work? Our business model is based on an annual subscription model which is On-demand, meaning the user can select the features, plan and the storage requirement. How big is your team? Where are you based? We are close to 20 people, majority of them in the development center located in Chennai, while our marketing team works out of Singapore. We are currently hiring in Bangalore and other metros for business development and are partnering with technology clients and scanning solution providers. Which cloud platform are you hosted on? We are hosted in a robust infrastructure provided by Singtel as well as Amazon. What are your views on the digital world increasingly moving on to the cloud? Having an infrastructure designed to digitize, store, search, retrieve, reproduce, authenticate, validate and publish the data to facilitate some of the process mentioned above will produce huge efficiencies for both the provider as well as the requester of the data. This data will be managed with all the features of security, privacy, standards-based, back-up as to make it useful and accessible whenever and wherever needed. To move it from its point of origin to any point of need quickly and efficiently—is imperative to support the various demands that will emerge in the future. Oystor is currently offered Free for individuals to try and give their feedback. Also, there is a referral prize with a chance of winning an iPhone4S. Log on to Oystor.com for further details
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by Paul Joseph
January 30, 2012
Featured
In my recent piece Reengineering Capitalism I highlighted a phenomenon that the global entrepreneurship ecosystem is paying very little attention to: Over 99% of entrepreneurs who seek funding get rejected. Yet, the entire world is focused on the 1% that is “fundable.” The media, when pitched a startup story, is interested in who funded the venture. They seldom ask how much revenue the company has or if it is profitable. Incubators take pride in how exclusive they are and how many “deals” they “reject.” Angels and VCs, of course, discard most of their “deal flow.” And entrepreneurs? They seem to have confused the definition of entrepreneurship altogether. Entrepreneurship, they mistakenly believe, equals financing! This is wrong. There are numerous stories of successful businesses that have been built without a penny of outside financing. I want to share with you some wisdom from the heroes of the other 99%. They live in a world of entrepreneurs who enjoy their freedom and are not looking to sell their businesses or take them public. You could say these businesses are built-to-enjoy, as opposed to built-to-flip. Needless to say, outside financing, by definition, requires an “exit,” and for most businesses, that means a sale to a larger company. But the entrepreneurs I will introduce you to today are not interested in selling their companies. They just want to continue doing what they are doing: building value. Meet Girish Navani, CEO of eClinicalWorks, a super-successful healthcare IT company based in Boston. He has never taken any funding but has built a $100 million-plus business by delivering value to customers. Girish says, “I don’t foresee leaving the company for at least 10 years. I would like to leave it a private company with no external investors and absolutely no thoughts whatsoever about Wall Street. I am having fun and take great pride in my freedom. There is no reason I would give that up. We are a cash flow positive company. We have recurring revenues and no debt. We have a large customer base that is growing exponentially.” [You can read Girish’s full story here .] Meet Andrew Fox, CEO of ClubPlanet, a $30 million-plus nightclub ticketing services company that is also 100% founder-owned. Andrew loves nightlife and says, “The business is very successful and has a lot of room for growth. I think that we have a lot of suitors out there who mention really ridiculous numbers at times. This is such a great lifestyle business that I don’t know if I could ever sell it. All of my previous businesses I built to sell, but this time around you might find me right here in thirty years. I hope by then it is $300 million a year. Based on our growth trajectory, we are seeing really good signs of improvement. [You can read more of Andrew’s story here .] Then there is the oft-cited Sridhar Vembu, who has turned all tables with Zoho, a $100 million-plus SaaS company that competes with Google, Microsoft, and Salesforce.com without a penny in outside capital. I have had numerous conversations with Sridhar over the years, and each time he reinforces the same basic philosophy: “I want to build this without outside capital. I don’t want to sell the company.” [You can learn more about Sridhar’s methods here .] Each of these entrepreneurs could raise money in a nanosecond given how much success they’ve had. The fact that they don’t gives you an idea about the advantages of the self-financed, organic growth model. No matter how much Wall Street gyrates, these entrepreneurs experience and demonstrate a level of stability and steadiness that is exemplary. Imagine if the American economy had many more such steady private companies that are far removed from the movements of the speculative markets, how much more robust things would be? It really is time that the media starts celebrating more of these kinds of heroes: the other 99%. And for young entrepreneurs, as you evaluate role models to emulate, perhaps it is not a bad idea to also consider some of these lesser-known heroes. They can give you a picture of the realities of an alternate, deeply satisfying universe. In conclusion, I want to leave you with a 1:49 minute video message. Please listen to it, and stop for a moment to think about your path forward. Is a single-minded focus on fund-raising your only option?
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