GoFrugal Technologies

Retail industry is among the fastest growing industries in the country. According to the BMI India Retail Report, the regional retail sales for 2011-2014 are set to grow 48.1 percent at an annual average of 15 percent. More good news for the industry is that the organized retail in India is expected to grow from 5 percent of the total market in 2008 to 14 - 18 percent of the total retail market and reach $450 billion by 2015. The humongous growth opportunity comes with its set of issues as well. The whole industry has to adapt to the changing business scenario, which is becoming increasingly difficult for the retailers who are always looking for new ways to increase profitability. "Challenges in retail are unique still they can be addressed with the right technology that identifies the problems and offers a holistic solution," says Kumar Vembu, CEO, GoFrugal Technologies.

GoFrugal Technologies specializes in retail, retail distribution and supply chain management solutions. Their solutions integrate computing, Web 2.0, mobile and SMS technologies to provide comprehensive automation and collaboration among the entire trade and supply chain ecosystem that includes suppliers, customers, partners, service providers, franchiser, franchisee, among others. With more than 12,000 customers including more than 10,000 independent retailers and 300+ Retail Chains across India the company operates with sales offices in 30 locations. The company’s business management solutions are built with deep understanding of Customer needs and pain points. They again utilizes the latest software architecture models and best in class engineering processes to deliver proven and cost effective technologies to their customers. The company members have significant functional and domain expertise and solid technology background which helps them to deliver their products in proper standard. Their Retail Solutions meet the demanding needs of a small, independent retailer to a large, multi-location retail chain. Their RayMedi Retail Solutions offer the choice of deployment on many different hardware and IT infrastructure. You can choose the right technology and benefits in terms of the capital or operational expense, operational, security and maintenance and support needs.

"Understanding the business practices of various communities in different business across many different states and building a standard product to meet their needs and aspirations was the real big challenge that we have overcome. Today, the product offers the industry best practices along with the unique practices of various communities, business verticals and location specific needs," says Vembu about the hardships his company has faced during the years. Software vendors who cater exclusively for the retail industry in India are still at a very nascent stage. There are several individual vendors who services between 50 and 500 customers. Then there are a few companies that services retailers in one state or few states with 500 to 3000 customers. The main thing about these vendors seems to be their focus on one or two verticals of the retail industry. "In the retail business management for small and medium retailers space itself, there is no organized competition that addresses the market across India, across 40 different vertical. When it comes to organized retail, the other options available for the customer are from international vendors and are at a very different price point compared to us," adds Vembu.

GoFrugal has grown at close to 100 percent on an annual basis. With plans to expand its presence to 250 towns of India over the next 12 months their future plan seems to be very aggressive and daring. Most of the additional coverage will be done through channel partners. Besides, it also plans to launch their solutions in SaaS model in next quarter. Along with the SaaS launch, they are also looking forward for launching their products in the international market. GoFrugal has created magic in the Indian retail industry, let’s wait and see if they can do the same in international markets as well.