By adopting digital technology in a systematic and phased manner, a company can eliminate most of its inefficiencies and completely turn around its profitability – Varghese Daniel, Wrench Solutions, Full Interview
Wrench Solutions is a fast-growing technology company providing data and process management solutions to engineering and construction firms including owner, consultants, contractors and engineers. Varghese Daniel, co-founder and CEO of Wrench Solutions was recently in conversation with team IT-Voice. Below is a snippet from the brief interaction:
Prateek: Please tell us about the journey of Wrench Solutions?
Varghese Daniel: Wrench began as CADD solutions in 1994 with a product to help manufacturing organisations collaborate better and reduce time to market. When we entered the construction and engineering industry a few years later I remembered how much standardisation has benefited manufacturing organisations and decided to apply the same principles to the construction sector. We built workflows based on global benchmarks into our project collaboration and monitoring platform, called SmartProject, and that is what makes our software unique in the industry. Today we offer a phased approach to digitising a company’s entire business process.
Prateek: What is the objective for the company?
Varghese Daniel: It is no secret that almost every large construction project goes over schedule and budget and the reason is the manually-managed nature of the project process which brings in a lot of human error and delay. By adopting digital technology in a systematic and phased manner, a company can eliminate most of its inefficiencies and completely turn around its profitability. So I have made it my mission to help engineering & construction companies complete projects on time and on budget through the intelligent use of technology.
Prateek: What other solutions does Wrench Solutions offer to the engineering & construction companies?
Varghese Daniel: We offer a three-phased approach to business process digitisation for engineering and construction organisations. The first phase, called Digital Documents, is an EDMS that addresses the documents and data management aspect. The next phases, called Digital Projects and Digital Business, address project monitoring, controls, manpower & resource management, cost and cashflow, procurement, and so on, until the customer’s entire business process has been streamlined and digitised.
Prateek: How was the year 2021 for the organization? What will be the policy for the growth and expansion in India and abroad?
Varghese Daniel: 2021 was a good year despite the pandemic situations. The EPC industry is now at last recognising the urgent need for enterprise-wide digitisation. The lockdowns accelerated this shift, with companies realising that they had no choice but to digitise their manpower management policies among others. My goal for the coming year is to build a strong network of partners in India and overseas. We’re looking for technology and sales partners, and also business consultant partners who can work with us to offer mutual customers a one-stop package for business digitisation planning + software.
Prateek: Please throw some light on Wrench Academy.
Varghese Daniel: The Wrench Academy is my brainchild to empower individuals and organizations with knowledge, to help them achieve professional growth, project outcomes, goals and objectives. After 20 years in this field I came to realise that there is a lack of organised education in this area and with investment in construction sectors ramping up everywhere, I believe there are a lot of professionals who will benefit from the programmes we offer. My goal is to build a network of professionals with the ability to efficiently execute projects using best practices, driven by the latest digital technologies.
Our Vision: To be the trusted technology partner for engineering and construction companies.