Here’s the snippet of Mr. Vishal Shah, Co-Founder and CEO, Synersoft Technologies Pvt. Ltd.
Jahnavi: Take us through the journey of yourself as well as your thoughts about Synersoft Technologies
Vishal: My professional circle knows me as a seasoned technology stalwart, an inventor of specific patented technologies, a writer, a serial entrepreneur, an investor, and importantly, a ‘Go to Guy’ for MSMEs. My personal circle knows me as an avid photographer, passionate traveller, and a health freak.
What I like about Synersoft is its unshakable belief system against all the odds. It was incorporated with a vision to develop an Indian product for Indian MSMEs. This is what has impressed me about the Synersoft.
Jahnavi: What part does Synersoft Technologies play in changing how the cyber industry operates?
Vishal: Synersoft has left a trend-setting impact in the Cyber Industry. For years, the IT industry has discounted the potential of the IT products designed and targeted for the MSME sector. In 2008, when we started Synersoft with the idea of developing BLACKbox, an indigenous product for Indian MSMEs, we were cautioned by many well-wishers in our professional circle. We were told that it will be a never ending struggle as MSMEs don’t understand value of IT. We evolved BLACKbox and transformed it into a brand that commands a hundred per cent advance payment and a 95 per cent plus subscription renewal rate. Synersoft now inspires startups as well-established players in the IT industry to develop products like BLACKbox, which are designed specifically for Indian MSMEs.
Jahnavi: What do you consider to be the main obstacle facing this field?
Vishal: Product development is a high risk business. One needs to nurture the idea, build the prototype, make a minimum viable product, and evolve the product as a fully commercial product. It requires tremendous investment in research, development, and reiteration. It does not taste the success in the very first version. The journey becomes more challenging when the product is put to the market test. Many products fail to excite the market or live upto the expectations of the market. It requires an open-mindedness and agile response system to the market feedback. These are the challenges in this business and persistence in right direction is the key to overcome.
Jahnavi: What obstacles did you have to overcome in order to advance Synersoft Technologies?
Vishal: When we started, the challenges were enormous. The market was dominated by American, German, and European products. Brand India was established in BPO and Software Service Sector. Brand India as an IT product was not taken so seriously. We were even one notch down as our target segment was MSMEs. We were warned with all possible logics like: MSMEs don’t understand the value of IT, don’t spend money on IT, are too fragmented, make impulsive decisions, and don’t pay on time. And we experienced all of that. In time, we realized that MSMEs are intelligent and discerning entrepreneurs. They pay very well for what they want. You must talk sense, offer a value- rich product, and win their trust. We worked,, reworked, and reworked our product. It worked for us after facing such tremendous challenge.
Jahnavi: How is BLACKbox contributing to enhance the working of all the SME and MSMEs?
Vishal: The value proposition of BLACKbox can be derived quantitatively or qualitatively. A quantitative value proposition is presented in the form of the cost it saves or the return on investment it fetches. A qualitative value proposition is presented as intangible benefits in terms of convenience, ease, efficiency improvement, and time savings. BLACKbox can be deployed on-premise as well as on-cloud. The BLACKbox delivers the quantitative and qualitative value proposition in the both of its forms of deployment, on-premise as well as on-cloud.
The quantitative value proposition of the BLACKbox can be understood by understanding traditional ways to create a standard IT infrastructure. A standard IT Infrastructure includes the deployment of multiple hardware and software, integrate them and maintain them. On the other side, BLACKbox is a Single-Hardware <> Single Software, “IT in a Box” solution that saves 65% of the investment and recurring cost compared to multiple hardware and software solution.
Qualitative benefits of BLACKbox can be listed as: –
- No hassle to host, power, and maintain multiple hardware
- No hassle to deal with multiple vendors
- No hassle to operate multiple software in silos
- Industry-first buyback policy on upgradation
- Availability of no-cost EMI options with credit card payments