Read the interview with Satyajeet Sali, SYNKRO Technologies
Please explain your venture to us in brief.
Synkro Technologies is a E-Security & E-Automation company dedicated to helping clients by its combined business of- Providing high quality products, Round the clock service & Designing solutions. We are a professionally managed company exhibiting strong fundamentals and technological expertise at every facet of our services. We give utmost attention to customer needs and deliver pertinent & cost effective solutions in accordance with customer demands.
From the front office through the back office, and across the technology stack, we leverage the latest tools and techniques to deliver services faster, better and cheaper. We remain dedicated to staying at the forefront of business and technology trends. Our single-minded passion is to employ our global technology, innovation know-how & our industry expertise to satisfy our clients.
Providing Solutions- In Synkro, we provide you with solutions to the best of our technical knowledge which helps you understand and make wise decision about the product(s) you are going to invest. Providing Products–In Synkro, we provide you with Good Quality Products at highly competitive prices. Providing Services- In Synkro, We strive to offer you the best possible after sales service allowing you to stay carefree about the regular maintenance of the products making them worth each penny you have spent.
When did you join the business? What have you brought to the table?
We started this In Jan 2013. The security industry is basically the most unprofessional and non-systematic industry. We provide Start to end Solutions to the consumers starting from knowledge about the products, new technology in market, new products available, which products products suitable to their need & Stressing more on After Sales Service.
What makes this particular concept different? Are there competitors? If yes, how do you stand out?
"Consumers are often forced or influenced into buying a product or service they don’t know or don’t need and once sold, most consumers face problems relating either to the product or service. A common dilemma faced by all of us in our day to day life.
The Reason behind starting Synkro was to let consumers know about the product they are buying, what are the different options in front of them and providing value for money in terms of service after buying the product"
Yes, There is huge competition in market. The competitor ranges from a Local electrician to big corporates. The reason of starting SYNKRO was to give people the value for their money. We take every project personally giving best of our knowledge and service to every Client.
What is the revenue model?
We use Markup model for the product we sale. We buy a product From Distributor or Company and increases its price before reselling it to customers adding our service cost And Subscription model if we are providing only Service where customers in return pays a pre-determined fee at contracted periods of time to the business. The customer will be required to pay the fee until the contract with the business is terminated or expires, even if he isn't utilizing the product or service but is still adhering to the contract.
Who are the consumers that you are targeting with the innovation? How is this going to affect them?
From a small shopkeeper to big corporates, From Banks to Government, all are our Consumers. Presently we have client base from a local shopkeeper to Big warehouses, Manufacturing Companies, Personal Residence, Telecom Companies, Banks, Real Estate, etc.
What is the potential of growth?
As declared in last budget, this industry is presently 500cr industry and will be growing to 2500cr in near future. As industry grows so does the companies working in that industry. In our case, we are presently trying to expand in very metro cities in India.
What is the strength of the organization and the scale of operations?
We started with outsourcing our projects during initial stages. But now we have inhouse team of 15 Technicians and Around 30 Electricians. We stress more on our technical team as it helps us in giving best possible service and also complete the project in given stipulated time period. We have team of 7 which looks after marketing. But our technical team sometimes doubles up as Sales person.
Give us a brief background of what you were doing before starting the venture.
Was working in our family business. As life got too single dimension and short of challenges started SYNKRO with capital of just completing government formalities.
Next 2 yrs you will see SYNKRO in every major cities in INDIA.
Have you received any funding so far? Are you looking for funds? If yes how do you look to allocate the funds?
No. All funds are generated from business we do.
What challenges did you face when you were starting out?
Like every fresher even I was asked for experience. As I just started I had no clients to show. Thanks to my friends I got some projects and experience to show.
As it’s a very unprofessional industry, when we use to outsource our projects it was very difficult to handle people. Reporting Late or Sometimes not reporting. It was not something we thought of when we started the company. So we decided to have our own team so that we can complete the project on time and give best possible after sales service.