A Pioneer In IT Space Driven By ‘Swadeshi Spirit’
Written by – Kajal Dobhal
In India, who isn’t aware of the intriguing journey of Patanjali Ayurved that took the FMCG industry by storm. The motive force behind the resounding success of the group is its agile adoption of the tech- advances and innovations to establish a robust supply chain management and distribution system. And this inside story depicts the success of the group’s yet another venture- Bharuwa Solutions that is scaling heights under the insightful stewardship of Acharya Balkrishna ji.
As our team sat down for a virtual meet with him to get better insights into the company’s offerings, we came across some valuable nuggets of wisdom and food for thought. While conversing with him as the CEO of Bharuwa Solutions and one of the most influential personalities in India, we couldn’t help but be amazed by the financial acumen shared by him. His profound knowledge of the industry and thoughtful approach to address the issues faced by commonalities are quite commendable. Hence, we believe that our global readership will find this read inspiring and enjoyable.
Well- reckoned as the phenomenal brain behind extraordinary triumphs of Patanjali Group, Balkrishna needs no introduction at all. And this time, he is back with something out-of-the-box to offer moulded as Bharuwa Solutions. The business is fixated on rendering productive and cost-effective solutions to complicated information management needs. For this, it depends on the innovative application of trending technologies in line with addressing the client’s business goals, says the dynamo.
As fascinating as the organization’s business portfolio is, we believe the name Bharuwa is equally amazing.
“Bharuwa means something that drives one’s life with prosperity and profitability. This venture was incorporated in 2019 with a sheer intention to allow the businesses across our nation witness growth in leaps and bounds,” reveals Acharyaji.
And the core motivation to start Bharuwa Solutions came from the adversities faced by Patanjali Ayurved itself to seek comprehensive solutions to address their supply chain and DMS( Distribution Management) needs. As the covid-19 crisis wreaked havoc across the nation, especially disturbing the whole supply chain mechanism, the administration felt the need of utilizing some customized software solutions for the supply chain as well as DMS. For both these areas, Patanjali Group searched for best-in-class software, reaching out to some leading SaaS service providers. Later, all this scenario stimulated Balkrishna to bring a ‘swadeshi touch’ in the software development space too.
“Patanjali’s contribution towards nation-building is by being focused on FMCG industry. But, we wanted to invade a different space with a unique vision to add substance to our mission of better nationbuilding. Thereby, we entered the Indian entrepreneurial space to consider and rely on complete software solutions that would be ‘home-made’ only,” elucidates Acharyaji.
BUSINESS PORTFOLIO AT A GLANCE
Bharuwa is a new- fangled, tech- startup of Patanjali Ayurved that is primarily focused on enhancing and ameliorating the supply chain and distribution system alongside offering a new dimension to IT industry. It has came out to be a pioneer in catering best-in-class IT solutions of global standards to small as well as large corporations, government institutions, etc. As a highly-acclaimed innovative software house, system integrator and tech- provider, the company has been developing incredible technical solutions for businesses to facilitate efficient and secure access and communication leveraging multiple heterogeneous information resources and services.
Bharuwa proves its forte in the software development space where it offers specialized products, IT services and custom end-to-end solutions as per the client’s needs. Owing to these competencies to implement and manage complex IT systems in this ever-evolving space, it has been ensuring a leading edge over its peers. Since its inception, Bharuwa has been providing its exemplary services to a diverse customerbase globally at quite competitive prices.
Today, it has become a singlewindow store where one can outsource most of the support services that are highly reliable and come at the best quality standards. It comes from an in-depth understanding of the client’s business processes, culture, vision and objectives across diverse industry segments. Thereby, they happen to deliver client- centric offerings that sync with their expectations while providing business value.
ABOUT THE MERITS
Many might ask, why to consider Bharuwa Solutions? Or what gives it a leading edge in the market? On this, Balkrishna responded that unlike other players in the industry, who offer a complicated set of DMS solutions while working on stock and inventory management in real time inventory, Bharuwa puts forth an end- to- end single process at the first place. Moreover, businesses rely on out-sourced solutions to deal with finance and accounts processes in stock and inventory management. Here, Bharuwa Solutions came as a service provider that has offered a complete set of stock and inventory management process ingrained with finance and accounts management solution.
The DMS software offered by Bharuwa Solutions is claimed to be a boon for retailers, distributors and manufacturers by Acharyaji. He adds, “For us data- centralization was the primary challenge to address at which we have excelled stupendously. Our revolutionary solution will produce incredible resultsbe it for a small retailer or a renowned super-distributor owing to its transparency and all- inclusivity. It has been formulated to revamp the scenario across Asian and African region for retailing, distribution, and manufacturing space. Along with this, Bharuwa has empowered this patented offering by including POS, devices, loyalty programs, WMS, etc.
At present, the system is working on three- layers and converged on catering to the needs of various industrial spaces like FMCG, Pharma, Restaurant, e-Commerce, and Garment. Soon, this software will be utilized and implemented on the ground level where every small and medium-sized business will be benefitting from its exclusiveness and that too, at quite affordable prices. And what adds to its phenomenality is the cloud-based system that improves the accessibility of the data, bringing efficiency to the overall process. This justifies the company’s motto of serving quality, innovation, technology, and a user-friendly interface with a lifetime of customer support.
Balkrishna states, “All the artisans, MSMEs, small retailers, etc, will be benefitted from this transparent fintech solution put forth by Bharuwa Solutions. From GST returns to IT filing or lending loans, this product will make a gargantuan impact on the lives of a majority of the population in India by ensuring financial inclusiveness across various industries. Additionally, the government of India can even witnesse an increment of 25% tax-deposition in its treasury that can affirmatively impact our economy in best possible manner.”
HOW REAL-TIME TRACEABILITY SYSTEM CAN OFFER A FINANCIAL SOLUTION TO VARIOUS PAIN POINTS?
Acharya Balkrishna with his core research team has developed a manuscript where the significance of real- time traceable solutions has been emphasised in light of up- lifting global economy. B-Bank™ is the flagship product that has been proposed as an integrated financial solution by him to contribute to the worldwide economical growth.
Today, developing nations are facing grave challenges such as inequality, hunger and poverty, haltering the comprehensive growth of a country that is eventually imperilling the world economy. When such disastrous situations thrives in any nation, inefficient lending practices, poor supervision by lenders and forgery become a common scenario that gradually leads to building of non-performing assets. NPAs are becoming the major threats to financial industry. And if we consider the finance management tools, there is a real dearth of real-time execution, fund deployment, credit risk assessment and project viability monitoring.
To combat this, a perfect combination of process modelling, execution and measurement can be developed for allowing financial traceability with accounting, billing, inventory & real-time project tracking and monitoring updates. This overt process describes a due diligence framework; controls financial traceability; along with geo-mapping, fencing & tagging that rely on tangible process assessment of projects before lending, during and after implementation.
On that note, B-Bank™ is a block chain secured finance solution that can effectively optimize credit risk capital at pre-sanction, pre-disbursement and post- implementation of projects. It will prove to be balancing and strengthening solution to financial institutions, that will ultimately ameliorate the global economy.
As a country’s financial sector must be economically sustainable, the deployment of efficient financial products with timely servicing, high repayment ratio, and low probability of defaults can effortlessly reduce non performing assets. As per the Projection Analysis, to establish a balance in poverty, inequality and economic growth, timely servicing, low delinquency, high repayment ratio will stimulate low – level of non-performing assets to build a steadfast economy.
Here, B-Bank™ happens to be a real- time finance traceability system that can assist financial institutions in selecting the loan beneficiaries who are reasonably well- performers and are low risk borrowers by analysing the real-time cash flow, project details and performance indicators.
In terms of significantly multiplying the bank’s income to cost ratio, the solution will be impeccable to increase the regular and timely credit and information sharing extent and NPA recovery percentage.
While making a huge difference to the fintech and DMS segment, Bharuwa Solutions will be forging ahead to add some substance to agricultural space in the upcoming years. Here, the multiplication of farmer’s income and digital agriculture will be the core focal points for the company making synergy with honourable PM’s dream project- ‘Digital Agriculture’. Bharuwa Solutions has joined hands with the government of India for Digital Agriculture’s pilot project for which they are thrilled to introduce some extraordinary offerings.
Acharyaji asserts that the challenges faced by our nation are quite distinctive when compared to other countries. Our resources are limited unlike other nations and Agritech solutions should be customized as per our agricultural issues. Thereby, the need of the hour is a solution to deal with such problems at ground level, rather than just superficially focussing on data and technology. A deep insight into the agricultural space at ground level is required to be substantial in this direction where Bharuwa Solutions strives to make an impact.
The IT product portfolio in this direction will be unveiled next year, bringing waves of joy and prosperity across the space. Moreover, all of this business expansion will ensure enormous employment opportunities to the Indian youth on direct as well as indirect levels to serve the ‘Atmanirbhar Bharat’ mission set up by the Prime Minister of India, affirms Balkrishna.
A TOKEN OF ADVICE TO ENTREPRENEURS
“There is no shortcut to success! Our youth shall rely on hard work, perseverance and dedication to attain unwavering success and make steady progress in the business. Just eradicate apprehensive attitude and face difficulties with confidence, and the world will hail you for sure,” conveys the luminary.
PARTING WORDS BY THE DIGNITARY
“We as a business community need to nurture a positive competition. In lieu of, demeaning and degrading each other by targeting the reputation, we should come together to take steps towards the nation-building process. For this, SMEs need to be endorsed in the most efficient manner as they can ensure a brighter prospect to our nation’s overall well-being. Here, retail businesses should be offered with better solutions to enhanced their overall value as the pandemic took a major toll on such traders.
Also, though diverted from Patanjali Group to the IT sector, Bharuwa Solutions flourishes on its ‘Swadeshi Spirit’ and innovative zeal that will keep us proceeding ahead fervently to make a difference to our nation at a major level. Hence, let’s join hands towards a radiant future by harnessing the power of IT solutions and make adamant attempts towards holistic growth of our country.”
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