On a mission to ‘Revolutionize Indian Manufacturing Industry by making it Smart & Digital’, Nextsky Technologies is on a roll and how! A Cloud Base (SaaS) ERP solution for the micro and small scale manufacturing sector, its flagship product Nextsky, delivers rich insights that help increase business efficiency, revenue, and growth.
The Co-founders
The company is the result of collaborative efforts of the Co-founders Prathamesh Adep, Dinesh Satpute and Vishal Patni.
Prathamesh Adep, CEO is a serial entrepreneur and regards technology as his true passion. With over seven years of domain experience in the manufacturing sector, he looks after the sales, marketing, and product development department.
Dinesh Satpute, CTO, holds a Master’s Degree in Application development. With an impressive experience in product development and web application, he leads technology department like development, analysis, research and leading the team.
Vishal Patni, CFO, is a Chartered Accountant with over ten years of experience in finance & banking industry. He has worked with a large organization like Bagla Group, Videocon and currently leads Finance, Legal and HR department.
Uphill Tasks
Starting a venture in Aurangabad, which is not a tech hub, finding the correct talent was the team’s first challenge. Trying to recruit from metro cities didn’t work and they had to hire fresher from colleges and start their specific training.
The second was what every start-up faces i.e. the financial crunch. The company started with just thirty thousand as capital and aiming to develop a product which would take at least six to eight months for the beta launch. The founders went to angel investors, with no success. So, they finally zeroed-in on customers, asked them some amount in advance and promised to develop the product for them. The Government scheme of ‘Mudra Loan’ also got them a loan of 10 lacks to start the journey.
The next set of challenges included changing technology, increasing competitors, demanding customers and pricing issues. The team failed several times, but every mistake taught some important lesson in the business world.
Making its Mark
Nextsky launched its flagship product after one and a half year of product research and development. With in-built intelligence, powerful flexibility and an easy-to-use interface, the ERP solution, Nextsky, delivered rich insights that helped increase business efficiency, revenue and growth. Since then, the company has been growing at a very impressive rate. The customer base has grown drastically and the operations have now grown to three cities.
Nextsky’s strategy to stay ahead of competition includes:
- Simplicity – Simple solutions for an easy and fast implementation process.
- Affordability – Specific focus on SMEs with due considerations of pricing makes its solution more affordable.
- Smart –It uses technology that effectively solves the real problems of its customer, and delivers it at the best price.
Happy Customers, Proud Developers
Nextsky believes that the most practical and effective way to help small manufacturing companies to become more efficient is to offer them affordable software with an efficient process workflow that can be implemented without requiring outside help.
Major Pain of Micro & Small Scale Enterprises
- Unskilled employees to make quick and smart actions.
- Flexibility in the production process as per customer demand.
- Unsatisfied customer due to long delivery time.
- Maintaining multiple software for the different departments like HR, Finance, and Production etc.
- Cost constraint to hiring expert consultants & IT managers for maintaining the software and infrastructure and upgrading it as per business demand.
Nextsky Solution’s benefits
- Dramatic reduction in time of employee by stopping repetitive work and maintaining several files.
- Reduction in Inventory cost by 30%
- Reduction in Machine downtime by 15% targeting on preventive actions
- Customer Delivery lead time up by 40%
- Organization decision making up by 50% as every person could access past, present information in a deep analytical way without any manipulation in the data.
- Boosting human efficiency
For its effective solutions, Nextsky was awarded by CII (Confederation of Indian Industry) as one of ‘Top 40 Innovator’ in India and by IEDRA (Indian Economic Development & Research Association) as ‘Business Excellence’ 2018.
For a Revolutionized Future
The founders, having gone through the process of starting a venture and turning it into a success, understand the concerns of fellow and young entrepreneurs. Their advice is to “Stay Focused on the problem that they are willing to solve. Be Fearless and use every possible resource to complete it. Be Consistent and always take care of employees first and then customers as they stand as support in bad times.”
The coming years will see Nextsky launching its new products based on Voice Recognition and IoT (Internet of Things). Prathamesh adds, “These will revolutionize enterprises in reducing the time and will increase smart decision-making process in the entire organization.”
