[Exclusive Interview] This Startup Is Unleashing A Revolution In Manufacturing Sector | Find Out How?
Recently we interacted with Mr. Guruprasad Bangle, Co-founder & CTO, SolutionBuggy, where we discussed the revolution that their startup is bringing in the manufacturing sector.
Here are the highlights from the interview..
Q1 Tell us about your business. What is the backstory of its inception?
Answer: SolutionBuggy is India’s largest platform to connect MSMEs in the manufacturing sector with experts. We cover a range of categories in manufacturing including textile, aerospace and defense, automotive, packaging, energy, and electronics among others. The core idea behind the inception of SolutionBuggy is to provide a credible platform that can help MSMEs to accelerate the growth and profitability of their businesses.
Unlike other industries, we found that in the manufacturing sector, MSMEs were struggling to find and connect with expert consultants as there wasn’t any credible platform for the same. Therefore, MSMEs were finding it difficult to overcome the problems and issues that they encountered in conducting their business. By launching SolutionBuggy in the market, we have made sure that companies in the manufacturing sector can have access to reliable and competent experts across India. We have given our clients a platform which today has more than 10,000 industry consultants as part of its ecosystem. These consultants have already delivered more than 2300 projects which speak volumes of their capabilities and competence.
Q2 How does the platform assist its users? What kinds of services does the platform offer? And who exactly is the intended audience?
Answer: SolutioBuggy offers a platform on which clients and consultants can come together and discuss/finalize the projects. Clients can choose from a range of manufacturing and project consultants and avail quality consulting services for a wide variety of business categories.
One of the biggest issues that MSMEs have faced in the manufacturing sector is the lack of a credible mechanism through which clients and consultants can connect with each other. This issue of lack of platform has been a long-standing one and in fact, plagued the fortunes of the industry for many years. Realizing this gap, SolutionBuggy came up with a platform on which clients from MSMEs can get access to expert consultants in both manufacturing and project domains.
The services can be availed in a number of different sectors including the new business development, automation and quality control, new product development, market research and process improvement among others. In addition to MSMEs, the intended audiences for our platform and services also include the new-age entrepreneurs who want to establish their credentials in the manufacturing sector. By connecting these clients with right consultants, SolutionBuggy is making sure that the desired growth and profitability in the entire manufacturing sector can be attained effectively.
Q3 How many customers/users are there on the platform right now? Would you mind sharing the names of some well-known clients?
Answer: SolutionBuggy is India’s largest consulting platform that offers expert solutions to entrepreneurs, business ventures, and MSMEs. We cover a range of categories within the manufacturing industry that include food and beverages, automobile, paper and printing, chemical and energy, pharmaceutical, and FMCG among others.
We are proud to be associated with well-known companies such as Tata Steel, Sonalika International, Bosch, Siemens, PwC, FutureZen, Precision, and InstaFinancials. We have completed 223 projects in the electronics sector, 258 in food and beverages category, 284 projects in the Pharmaceutical industry, 166 in electricals, 157 in automotive, and 59 in paper and printing sector, 290 projects and 113 projects have been completed in the textile, and Aerospace/Defense sectors respectively. Overall, we offer expert help in areas of research and development, certifications and approvals, total quality management, succession planning, and machining and tooling among others.
Q4 How does the platform make use of artificial intelligence?
Answer: SolutionBuggy has integrated technology into each and every facet of its business model. Given the vast potential that technology adoption brings to the table, we have been very enthusiastic about the adoption of new-age technology solutions such as artificial intelligence (AI) among others. AI is now being used on our platform for consultant mapping, project management among others.
It’s used for collecting and assimilating the data of the clients and consultants so as to exactly match the needs of the clients with right solutions and consultants. This results in a considerable savings in time and efforts as clients can instantly match their requirements with the solutions availables on the platform. AI is also helping us in the overall assessment and evaluation of the projects and their progress. Accordingly, the technology generates detailed reports on the parameters where improvements can benefit both clients and consultants to achieve better results on various indicators of performance. This continuous assessment and evaluation are now proving instrumental in completing the projects on time and helping both clients and consultants to optimize the available resources. We are also utilizing AI in making future predictions and assessments of the various trends that keep on emerging on the horizon of the manufacturing industry.
Q5 What are the Indian Manufacturing Sector’s opportunities and market size?
Answer: The manufacturing sector is one of the major contributors to the gross domestic product (GDP) of India. In terms of the percentage contribution, manufacturing accounts for around 30% of the total GDP of our country which is pegged at around $3 trillion. The relevance of the sector is crucial not only from the perspective of its contribution to the GDP but also from the viewpoint of employment generation. Importantly, the quality of the employment generated by the manufacturing sector is way better than that delivered by the service sector. This explains the focus of the policymakers on enhancing the prospects for the manufacturing sector as this will provide the much-needed boost to the overall growth and sustainability of the Indian economy.
In terms of absolute numbers, the size of the manufacturing sector in India is approximately $900 billion. Any uptick in the manufacturing sector bodes well for the agriculture and the service sectors too, thanks to the multiplier impact activities in the manufacturing sector have on primary and tertiary sectors. This multiplier effect, in turn, spurs the economy by reviving the growth of sectors across the business domains. Also, given the fact that India is capable of becoming a global manufacturing hub with an estimated contribution of $500 billion to the global economy by 2030, manufacturing holds quite a prominence among the three sectors of the Indian economy.
Q6 Can you tell us about your future plans for growth? Do you intend to broaden your current service offering?
Answer: The first and foremost priority of SolutionBuggy is to maintain the rhythm and consistency in the growth and expansion that we have been able to achieve in the last couple of years. While we are also looking for inorganic growth opportunities, our focus will continue to expand our customer base in MSMEs by strengthening our core competencies of offering a vibrant consulting ecosystem to clients. We will strive to expand our team of experts and try to include consultants for wider categories and segments in the manufacturing sector.
One of the important segments in which we will intensify our efforts is finding ways to connect and enhance collaboration with policymakers, regulators, and statutory organizations. Getting these important people on board and having a meaningful interaction with these stakeholders will help us to get an inside view of the developments in the manufacturing sector. This, in turn, will help us to update our platform with latest emerging trends and keep both our clients and consultants informed on the newest developments happening in the sector. In addition, we will specifically focus on the requirements that our clients have with respect to the integration of the technology.
Q7 How much expansion do you anticipate in the coming years?
Answer: We anticipate considerable growth in the category of food processing, textile, aerospace and defense, chemical and pharma in the coming years. In fact, the growing focus of policymakers on the manufacturing sector will become instrumental in helping a host of segments to post impressive growth numbers in the future – both in the domestic market and export to overseas markets.
These enhanced opportunities will translate into lucrative chances for the manufacturing and project consultants who are capable of providing expert solutions to the problems and challenges faced by the clients. With growing possibilities and opportunities, SolutionBuggy is also prepared to upgrade its platform and offer an even more dynamic and vibrant interface to meet the changing requirements of the stakeholders.
We also anticipate a healthy uptick in the demand for the consultants from the new-age entrepreneurs who are increasingly finding the manufacturing sector attractive for starting their venture. This enthusiasm coupled with the favorable policy framework will open new avenues of growth for the manufacturing sector. Summarily, we at SolutionBuggy are fully confident of becoming an instrument of success for the manufacturing sector by helping clients and consultants to meet up and join hands for achieving better business prospects in their respective fields.