The Exchanges

Q Makes good sense. Okay. Give me more of the backstory here. What year did you launch the company in?

A Uh, so Bizon as a product was launched in 2012. Uh, this is our six year old product now. Uh, I, I am a technologist. I mean, I am a geek. I have no idea how the, I did not have any idea how this whole FMCG and, uh, distribution and other stuff work. Chance meetings with couple of other entrepreneurs, uh, who were building products in that particular space. They talked about their difficulties in understanding the sales on the ground, uh, Uh, working with this mom and pop fragmented distribution ecosystem in a place like India, it looked like a really silly problem to me, to be honest with you. It looked like a simple problem that a technology or a mobile application could solve. In 2012, if you remember, smartphones weren't as prevalent, weren't as prevalent as they are in India, uh, today, uh, although iOS was, uh, fairly, uh, Popular. It was too expensive in a country like India to afford. Android phones weren't as cheap as they are today. So there was this kind of a barrier to entry for all of these brands to use mobile-first technologies. But for me, it sounded very simple as a smartphone app connected to cloud, a workflow automation platform which can digitalize multiple workflows, so to say. So I converted that business problem into a tech problem, built a quick, so to say, MVP for first two customers, We rolled it out in the market, measured that ROI. My first customer …

AI assessment note: “so Bizon as a product was launched in 2012.”

Q Okay. Got it. So July, 20 17 caught three 50 K a month. Now, obviously almost double that, which is healthy growth. Whereas, where is most that growth come from new customers or expanding current ones?

A Uh, so actually they're both parts of it. Uh, for the longest period of time, we were just focusing on new customers, uh, to be brutally honest, because that's where we saw the growth was. Somewhere last year we realized there is a lot of potential to be gained from existing customers as well. Existing customers were growing organically, not as fast as the new customers were growing. Uh, somewhere last year we put focus on what we call as farming, uh, customer success, so to say, uh, that meant we now have currently have two growth engines. So suddenly how, so my, you know, my, Uh, board asked me the question saying, you know, okay, great that you're growing at seven, eight percent month on month. How can you grow at 12% month on month? So the answer to that was essentially, look, I have, there is a lot of untapped potential in my existing accounts, which I'm not, uh, good news for us was, though, was the churn was less than, uh, less than, uh, one percent at any given point in time.

AI assessment note: “so actually they're both parts of it. Uh, for the longest period of time”