Noventiq facilitates and accelerates digital transformation for its customers’ businesses, connecting 75,000+ organizations from all sectors with hundreds of best-in-class IT vendors alongside its own services and solutions. Timestech spoke to Vinod Nair, Global VP Sales & General Manager, Noventiq India to know about their journey, inspiration, product and services and much more.
Read the full interview here:
TimesTech: When and how did you come up with the idea to start NOVENTIQ?
Vinod: Our company was previously called Softline Holding Plc and has been around for almost 30 years. We decided to rebrand the organisation and chose the name Noventiq because it truly represents the vision and aspirations of the company and its employees, namely innovation, entrepreneurship, and energy. Our primary focal points are technology and digital transformation, which is what we do, and quality which defines our services and solutions. Here is a dissection of the nomenclature – NOV which comes from ‘Novus’, stands for ‘new’ or ‘Innovation’, EN stands for ‘entrepreneurial energy’, T stands for ‘technology and transformation’, and IQ stands for ‘intelligence and quality.’
TimesTech: What was your inspiration behind this venture?
Vinod: We wanted to continue with the same vision and mission that our customers and vendors value immensely, and to preserve that under a new name that truly represented our company´s future, people, and business goals. This was the inspiration behind the venture and the basis of our rebranding process. The only change that we did with our rebranding is to align our motto to be customer facing. Our earlier slogan “we know we can” was largely addressing our employees our biggest asset to believe in themselves & our new motto “Global Expertise. Local outcomes” is more to assure our customers that we are getting the best technical capabilities to every market that we are operating in.
TimesTech: What Products & platform businesses do you offer?
Vinod: Noventiq´s solutions and services portfolio of digital transformation and cybersecurity includes multi-cloud services, future workplace solutions, modern hybrid infrastructure, digital transformation (DX) and cybersecurity services, software provisioning and consultancy, and services on application modernization & data modernization.
Our services capabilities in India include a Global Development Centre (GDC), Modern Workplace Support Centre and Security Operations Centre which houses more than 300+ engineers that support multi-cloud and cyber security.
TimesTech: What is the brand’s USP?
Vinod: Our USP is that we help organisations to transform and operate efficiently and securely in a digital economy. Noventiq currently operates in almost 60 countries globally, most of them in emerging markets of APAC, Latin America, Eastern Europe, and MEA.
TimesTech: What factors helped NOVENTIQ to turn profitable?
Vinod: As mentioned earlier, Noventiq operates in almost 60 countries, and it delivered a turnover of $1.1bn with YoY growth of 51% in the fiscal year 2021. It is also listed on the London Stock Exchange since its IPO last October 2021 under Softline Holding plc.
The main factors that help Noventiq to be profitable and successful are: the company’s capable team of almost 3,900 people; the more than 75,000 customers worldwide which trust in Noventiq’s solutions and services every day; and the hundreds of vendor-partners that rely on Noventiq to bring their technology to all the markets where we operate.
TimesTech: Any plan to make new acquisitions?
Vinod: Yes, our team continuously reviews opportunities for acquisitions if they see synergies with the existing business and options to increase the scale at attractive valuations. We plan to create one of the largest tech workforce in India working for India customers.
TimesTech: What is the outlook of the market?
Vinod: According to a recent report by NTT, 96.3% of businesses in India see Cloud as a key aspect in transforming their business. Today, there are 1.48 million companies in India at the cusp of adopting cloud or implementing advanced cyber security solutions to protect their assets. As a leading solutions and services provider in India, Noventiq plans to help these organisations to choose the right digital and cyber security solutions in their quest to become more successful by adding efficiency, speed, security and simplicity to their daily work.
TimesTech: Any business expansion plans?
Vinod: India is one of the most important and fastest-growing markets for our company´s growth and evolution. Our goal is to make our subsidiary in India a $ 1 billion business. Thanks to the rapid organic growth we are achieving and to the success of organisations like Embee, Umbrella Infocare, and the Value Point Systems, we are close to achieving this goal. We plan on continuing our momentum to achieve our goals.
