Human Capital was involved in a conversation with Sandeep Mathur,
Managing DirectorLyncBiz Corporation to understand the challenges to companies that have offices in several countries across the globe and the advantages that can be wetted out from outsourcing payroll solutions.
Change management and lack of awareness are the two most prominent challenges that we confront while
addressing the payroll requirements. Most companies in India outsource their payroll for their overseas employees. However, they do this through an arrangement with Accountancy firms or their partners in those regions. It works if you operate in one or two
countries, however, when there are multiple countries involved, it can become quite a task to manage. In our experience, most companies will take a few days of patching together multiple reports to even tell you how much their payroll outlay is, and are obviously clueless about payroll processing costs that is being paid by them.
Financial Year 2016 was a watershed year for business-to-business(B2B) start-ups in India, with more than a 1000 new companies getting registered and over $1 billion was invested in the segment. Given the fact that traditional lT market is not adventurous enough to give young start-ups an Opportunity coupled with the price sensitivity of the market. sooner or later B2B product companies will tend to look at going international.
Looking at the markets like the Middle East or South East Asia, you will find most of these economies are much smaller than India, however, sometimes it is easier to setup a shop there from a revenue standpoint and also it is a cheaper option. But, just because you have managed to set up your business in these economies does not guarantee your presence in the US or European market, it is still as hard or simple if you had customers only in India. Additionally, most of these markets are extremely relationship driven and therefore you need to have a clear partnership strategy, else it would be a waste of time.
LyncBiz, a global sales management consulting firm has partnered with SafeGuard World International, the leading global payroll company in order to address the multi-country payroll challenges faced by companies in India. Lyncbiz and SafeGuard World will target the global payroll needs of large and small multinational companies that face major challenges in terms of standardization, automation, compliance, and reporting.
In the last five years, we have seen dramatic upheavals in the dynamics of entrepreneurship. It has disrupted the very root of conventional business thinking i.e., tranquillity, stability, profitability and uniform growth. From wantrepreneur bringing in sweat equity to Unicorns being hyperfunded, it's the era of start-up boom.
Even though India has emerged as one of the top three countries in churning start-ups, out of every ten start-ups, two may get Soft Landing and one thrives as a Unicorn. And the rest end up in dead pool of corporate history. Ultimately, it's not just the business model but the relentless innovation and execution capability that distinguishes the toughie over the vanquished.
LyncBiz, a global sales management consulting firm with a focus on the education vertical has signed an MOU with Mumbai-based company Shirsa Labs to tap the content and edutainment segment in India.
Through this association, LyncBiz will help Shirsa Labs to expand its market share to one million students in a year. Shirsa Labs is India's fastest growing content driven kids engagement company targeting students between the age group of 6-14. It offers alternative and entertaining learning solutions in nine different languages through different mediums such as videos, games, e-books and audio formats.
Mumbai-based LyncBiz, which helps companies enable and execute sales strategies for faster time to market and growth, is aiming for Rs 6.5 crore in revenue by the end of the year.
A decade ago, multibillion-dollar Japanese automaker Nissan Motor Company came to India through a master franchisee, which studied the market on behalf of the company and set up the entire dealership network. Several global companies choose to take that route before risking it all in a new market. But now with Indian companies going global, there’s a demand for a company that helps them conquer foreign markets.
Yatin Kantak, Co-Founder and CEO of LyncBiz Corporation
Yatin Kantak is the Co Founder and CEO of LyncBiz Corporation, which is a specialized global sales management consulting firm. The company helps products and services companies to engage, enable and execute their sales strategies for faster time to market and growth. Yatin has a rich experience in managing business for more than 24 years (primarily in sales function) in leading IT organizations like Oracle, IBM, Tata Unisys, Softcel, Cyberspace, Fiona & Net-itech.
His role comprises of doing product strategy, business development, innovation and finance etc. In conversation with Dominic Rebello, Yatin says he started LyncBiz with an aim to connect Indian Start-ups with new customers/markets and to help global companies enter new markets in India.
"If you deprive yourself of outsourcing and your competitors do not, you're putting yourself out of business" - Lee Kuan Yew.
Since the time outsourcing has emerged, it has delivered numerous benefits to all sizes of companies globally. India has emerged as one the prominent markets for outsourcing. It has even generated a new industry of companies to provide all the required talent.
Deloitte's 2016 Global Outsourcing Survey talks about cost, enabling core business functions and solving capacity issues as the primary drivers to outsource. The traditional areas of outsourcing have been in legal, tax, real estate, manufacturing and information technology; but now, a vast majority of companies are looking at functions like HR, sales and marketing to outsource as well. The same survey talks about increase of more than 32 percent by companies in HR outsourcing.
Do you know that only 8% of global IT product companies with market value of more than a billion dollars have a presence in India? The downside of this is that Indian enterprises do not get the benefit of these new-age solutions and a choice of competitive solutions in the marketplace. Why is it that companies do not want to enter India, hailed as the most exciting and fastest growing market in the world? “This is the question that bothered us and which is why Lyncbiz came into existence,” says Sandeep Mathur, managing director of Lyncbiz, a Mumbai-based start-up founded by six former Oracle senior sales employees.
Mumbai-based global sales management consulting firm LyncBiz Corporation is looking to partner with early- stage Indian start-ups to help them access customers in global markets over the next 12 months. The company has started identifying and shortlisting pre-Series A and Series A start-ups offering horizontal solutions that are relevant across industry segments. Only start-ups that have reached a certain level of maturity, with a product or service that sells in at least one market with a paying customer base, will make the shortlist.
LyncBiz, a sales management consulting firm with a focus on the education vertical has signed an MOU with Hyderabad-based company WhiteBoard Ventures to tap the growing digital learning market in India. Founded in the year 2010, WhiteBoard Ventures has a popular B Topper Foundation Program for classes VI to X in Mathematics and Science for the Indian Certificate of Secondary Education (ICSE),Central Board of Secondary Education(CBSE) and Secondary School Certificate (SSC) Boards having a base of 50,000 students across 300 schools in Andhra Pradesh and Telangana.Whiteboard foundation program helps the students to build, reinforce and enhance their math and science foundation progressively over the years.
Consulting firm LyncBiz today said it has signed an agreement with Hyderabad-based company Globarena to tap the growing e-learning market in India. Globarena Technologies provides competency enhancement solutions to more than 15 universities and 2,000 colleges, with branded programmes like GEMS and TekEdge, the company said in a release here.
Through this association, Lyncbiz and Globarena will target the existing user base of over 2 million university staff and students across India with learning solutions built on the Claned Platform and also sign on new Universities, colleges and Corporates, it said.
CLANED, a fast growing Finnish education technology start-up, has partnered with LyncBiz to offer personalized education in the Indian market. CLANED applies in-house developed artificial intelligence and academically validated theories of education psychology revealing which factors impact individual learning. The firm tries to understand how learners learn and optimizes their study motivation and improves learning results.
Former Managing Director of Oracle India, Sandeep Mathur, who exited the company last October, has joined FinOne Technologies, a next-generation financial services solutions start-up founded by former Infosys veteran, Haragopal Mangipudi, better known for taking Infosys’ core banking solution, Finacle, to global markets.
Mumbai-based LyncBiz Corporation, a start-up founded by six ex-Oracle senior sales employees, has raised about $1 million (₹6.5 crore) through angel funding. The three-month old start-up, in which former, Oracle Managing Director Sandeep Mathur is an advisor, is an innovative platform that provides sales teams and solutions to companies, especially SMEs, thus helping them reduce their sales and marketing costs.