Two Legs to Stand On – Featuring NASSCOM EMERGE 50 Company Srishti Software
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Srishti Software was designated an EMERGE 50 company in the Emerge Products space based on the success enjoyed by its products Kreatio and Paras which target the online content management and healthcare information markets respectively.. NASSCOM spoke to Ajay Shankar Sharma, CEO of the company to understand why and how Srishti is emerging as a leader in the Indian product space.
Growth Path.
Srishti Software was initially started as a software services provider in 1997, but in 2002 the founding team decided to transform the company into a products one. The team’s vision was to create world-class products in India. Today that vision has been fulfilled with Kreatio – an online content management and monetization product and Paras – a healthcare information management system.
Srishti is headquartered in Bangalore, with offices in Delhi, Mumbai and London. Key markets targeted by Srishti include UK, USA and India.
Winning Post
Srishti was designated an Emerge 50 company in the category Emerge Products, given that their products are, in fact, emerging at a global level now. Kreatio enjoys 10% of the market share in the online content management domain. Media companies are highly concentrated when it comes to ownership, with the top 10% of companies owning 85% of the total media assets worldwide. This means that by engaging with one client, Kreatio can bring about a big shift in the global media market.
The Success Ladder
According to Ajay Shankar Sharma, Founder and CEO of Srishti, the factors that have contributed to the success of Srishti and its products include:
- A clear differentiator: For Kreatio, the differentiator lies in constantly innovating and adding new and exciting features to the product. Media companies themselves are constantly evolving and changing; the product needs to keep pace with them, offering innovation rather than mere functionality. Paras, on the other hand, is more about providing a comprehensive solution with extensive functionalities that can be easily interpreted with other products. The onus is on the customer’s pain points and how the product can address these.
- Good execution: Having a good product is not enough. Excellent execution capability plays a role as well, whether it is having exceptional marketing and sales capabilities, or providing impeccable customer support. “Without an execution capability par excellence, any competitive advantage that the products enjoy will disappear fast,” points out Sharma.
- In-depth expertise: Srishti has developed an in-depth functional understanding of the healthcare, online media and publishing domains.
The X Factor
But above and beyond the success factors, the one factor that has perched Kreatio and Paras where they are today is really the manner in which the key attribute of innovation has been inculcated within the DNA of the company, feels Sharma. “Srishti has a culture that stresses innovation and staying on the cutting edge of technology,” he points out. “Employees are encouraged to think out of the box and we strive to always stay one step ahead of competition.”
Obstacle Course
The major challenge that Srishti faces today is in terms of coverage. The world is not a small place and the question of how best a company that is 100 people strong can effectively develop business the world over is one that is constantly on the radar of the management team. Of even greater importance is building mindshare with potential customers. This is a challenge that has to be managed on an ongoing basis, according to Sharma.
Voice of Experience:
Sharma has this to say to aspiring companies, “Most people quit when success is just around the corner. Perseverance is a key part of the game. However, keep in mind that making the same mistakes time and again is not perseverance! “
Contributed by Kritika Srinivasan, Prayag Consulting for the NASSCOM EMERGE newsletter.
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