Techpanion is a technology companion for the digital transformation journey of organizations to transform from essential to evolved states. Its technology solutions automate critical processes in finance, procurement and operations for compliance, efficiency and excellence.
Here, Arun Krishnamoorthy, CMO, Techpanion, tells us more. Excerpts from an interview:
DQ: Tell us about the company and the services that your company offers?
Arun Krishnamoorthy: Techpanion is an award-winning Laserfiche solution provider that seeks to automate critical processes like finance, procurement, operations, and technology solutions for enterprises operating in the manufacturing, infrastructure & construction and retail sector.
The tech firm aims to transform the procurement function that is a critical part of the business process by making it quick and flexible.
The primary product of the company is NimbleS2P. The company originated when the founder(s) recognized the long-standing need for a quick, value-driven, easy-to-maintain solution to automate a source-to-pay function. They were agile to grab the opportunity and create the one-stop solution for it, the NimbleS2P.
The main focus of the company’s operations lies in the four essentials of source-to-pay automation, which include Supplier Portal, Contract Management, Procure-to-Pay, and Supply Chain Financing. Supplier Portal enables easy-to-use functionalities required for Supplier Onboarding, Change Management, Profile Management, and Query Management, etc.
DQ: What were the company’s goals and objectives when it was founded? Tell us about your journey since the company’s foundation?
Arun Krishnamoorthy: With extensive shared service & Laserfiche implementation experience, our team started in 2016.
We successfully implemented several automation solutions across various domains like manufacturing, pharmaceuticals, oil and gas, infrastructure, and retail. During the period, we identified a clear need to digitally transform procurement — enterprises were calling for a quick, easy-to-use and value-driven solution to automate the source-to-pay function.
That was the time to level up and give the market what it deserves – and that’s how NimbleS2P was born! No looking back since then, as our SaaS solution continues winning hearts from enterprise customers, partners, and the technology community!
Moreover, we are looking forward to making our product NimbleS2P the “Most Preferred Supplier Portal” globally.
DQ: What are your growth plans for the next year?
Arun Krishnamoorthy: We are aiming to achieve the milestone of becoming one of the top three providers of SaaS solutions in procurement automation in India and overseas by the end of the next five years.
DQ: What were the major challenges the company has faced till now?
Arun Krishnamoorthy: The company has seen major growth since the last two years. We have faced various challenges during the period like pandemic initiatives, risk management, sustainability, diversity, working capital etc.
DQ: How is your company helping customers deliver relevant business outcomes through the adoption of the company’s technology innovations?
Arun Krishnamoorthy: By the use of NimbleS2P, we automate manual activities for a buyer, enabling and supporting the Digital India and Atmanirbhar Bharat scheme by strengthening MSMEs to expand and grow their business digitally. The genuinely open platform has no barriers to entry, meaning no registration fees, free guidelines, and recommendations, enabling even the smallest of enterprises to benefit. Suppliers can quickly and easily avail of the user-friendly services by registering through any interface (such as email, BOT, web, or mobile) of their choice.
Our product, NimbleS2P reduces the processing time of critical operations of a business ranging from supplier selection and onboarding to invoice processing, by 50% to 70%. These processes are heavily document-based and data-intensive and thus involve much paperwork. By digitizing the same, NimbleS2P contributes significantly towards conserving the environment.
DQ: What are some of the worries that organizations have before implementing automation?
Arun Krishnamoorthy: One of the major worries that organizations have come across in the business space is digital transformation of suppliers.
Along with this, some other significant challenges or worries were:
- PO and non-PO — invoice processing
- Mailroom processing
- GRN matching issues
- Supplier queries
- E-invoicing, credit / debit note processing
- Contract-based processing.