Solutions for a Better World
Sollet Soft Solutions Pvt. Ltd. (called as Sollet) was founded in September 2012.
Sollet means Solutions Wallet or Solutions Outlet
• Wallet containing solutions: Sollet automates the critical business process of the clients and provides cost effective solutions. Sollet acts as a wallet for clients having any kind of Solutions.
• Solutions Outlet: Sollet will build solutions for a better world in unexplored/underserved businesses taking niche products to the market. Sollet allows businesses to extend their services through Outlets/Agents/Franchises using its state of the art technologies.
• Wallet Solutions : Experts in providing Mobile wallet based solutions
Sollet vision to "Define the most efficient way the world can work using IT Eco systems ". Sollet is forging ahead with a mission of "Connecting more than 2 stake holders in any unexplored/underserved businesses across the demographics by setting up and supporting the IT Eco systems".
Sollet is one among very few IT organizations who understands what an Eco system means and how to make it more efficient. Sollet take whole responsibility in creating more viable Eco systems benefiting the business to the fullest. Sollet has already proven in giving very cost effective Eco system solutions spread across the demographics.
Sollet has industry experts building an enviable record of implementing highly innovative and leading edge solutions for large as well as small enterprises and government as well as private sector organizations. Sollet has wider industry exposure in the Banking, Telecom, Insurance, IT sectors that can bring in paradigm shift the way the world can become better.
Sollet has the ability to provide an effective business process management and consulting services. Sollet always provide very cost effective solutions using best in class technologies. Sollet focus more on providing Eco centric business solutions that are more cost effective using Cloud based SaaS modeling. Sollet will take the complete ownership of your business lifecycle while giving necessary Cloud based solutions.
Market Landscape
Sollet is clearly focused on serving below market landscape:
Payments
- Services through branchless Banking/financial inclusion
- Payment solutions for Banks
- Payment solutions for MFIs
- G2C Payments (NREGA, Pensions, Tribal etc)
- Services through Co-operative Societies
- Services through Self Help Groups (SHGs) and Joint Liability Groups (JLGs)
- Rural/Micro Insurance Services through Agents
- Reconciliation, Clearing and Settlements
- Services for Education Institutions
- Domestic/International Remittances
mee-Com (next dimension of e-commerce/m-commerce)
- FMCG
- Retail
- Pharma
- Insurance
- Education
- Textile
- Agriculture
- Automobile
- Engineering
- 3rd party services
- Telecom services
IT Services (Software Developments, IT Infrastructure support etc)
Telecom
- Mobile/DTH Topups
- Wallet based services(Mobile wallet/Enterprise Wallet)
- USSD/SMS based services
Offerings & Value Proposition
Sollet is currently having couple of products in pipeline which can bring in revolution across the landscape. One among them is “mee-Com”, the next dimension of e-commerce/m-commerce platform which is Cloud based system, which can empower multiple businesses including farmer producers, small scale industries and all the stake holders in the value chain starting from producer/manufacturer to the end customer. Sollet will constantly evolve in brining in more products through disruptive innovation approach.
How are We Different from Competition
Sollet will always focus on creation of an Eco system by using it‘s innovative products. Apart from this, it will ensure its new products are all Cloud based systems that are niche in the market and more cost effective while ensuring they are state of the art. Sollet will focus on bringing in highly scalable systems for all its products that can support bigger market across the demographics. Sollet will ensure the scalable system it brings in also allows scaling the businesses quite fast.
Clients
Currently BASIX Sub-K iTransactions Limited (Sub-K) is supported by Sollet. Sollet supports and maintains Sub-K’s patented product VitranSP (Virtual Transaction Service Provider) that is used for Sub-K field implementations and transactions across India. The system is currently supporting 1500 business correspondent (BCOs) of Sub-K and capable of scaling up to 20000 BCOs for branchless banking/financial inclusion. The system is a Cloud based niche system not only supporting multiple banks, numerous BCOs but also multiple banking and non banking services (like mobile topups, DTH topups and Dairy payments etc)
Trends in the Addressed Market Landscape
In the segment we are currently supporting Sub-K, there are new trends like UIDAI based authentications for banking transactions along with inter banking transactions through BCOs. Sollet has the necessary expertise ability to bring in all these trends into action with minimal efforts.
Intensity of Competition
Sollet is trying to bring in niche Cloud based products in vertical it is going to operate and operating now. There is competition in individual sub vertical area like branchless banking/financial inclusion, thought Sollet is well placed as unique in providing niche Cloud based solutions. Sollet has already mastered in providing highly complex SaaS solutions in this segment. With its constant disruptive innovation and constant motivation to improve itself, it will keep it far from the completion constantly. Sollet has kept budget and resources sufficient to ensure there is clear focus on innovation always by having a separate innovation team. Plans are there to ensure 10% of its budgets are allocated to innovation constantly. Sollet will tie up with small startup players in the industry to ensure it has end 2 end portfolios in its area of focus.
Organizational Culture
Employees at Sollet (Solletan) work like a family where all are equal irrespective of the Religion, Cast, Creed etc. Sollet is a haven to work where each Solletan will get an equal opportunity to explore themselves and find their immense potential in their area of interest. Sollet embibes the culture of innovation and excellence in each Solletan giving a clear career growth path.
Sollet has built over the time a world class team thriving to achieve great results in IT arena, especially for development of state of the art IT Eco systems helping the societies to grow immensely. Sollet has below core values embibed in each Solletan from day one to ensure the organization is vibrant, transparent and more effective.
Sollet has below core values imbibed across the organization:
- Passion - We show pride, enthusiasm and dedication in everything that we do. We are committed to selling and delivering high quality products and services.
- Integrity - It should be the hallmark of every Sollet Associate. We strive to do what is right and do what we say we will do.
- Trust - We believe that trust and respect are essential for teamwork, we want to live and work in an environment where there is an open communication - where people feel free to share their points of view and to speak the truth as they see it.
- Customer Focused - To understand, determine and deliver what our customers want, with a high standard of quality and professionalism.
- Innovation - We are the people who embrace and stand ready for change, who are willing to take on new challenges with an enterprising spirit and will constantly pursue newer and better processes, products, services and management practices.
- Accountability - We do what we say we will do. We own a collective responsibility towards customers, colleagues, communities and shareholders.
Sollet has monthly rewards program to ensure best performers are recognized and motivated constantly. It has also adopted project based bonus program to ensure each employee of the organization get benefited with achievement. It has well laid out career growth plans giving clear career growth prospects to each employee.
Growth Plans
Sollet has plans to breakeven in one year and get into aggressive expansion plans across Payments, mee-Com, IT Services and Telecom segments. Sollet aims to be amongst Top 5 startups in 2013.
Global Strategy
Sollet has broadly 2 approaches:
- Innovate a Cloud based product, research the markets to explore and approach businesses to tap in
- Explore the market, derive a Cloud based product that suits a business need and expand the product across multiple similar businesses in the market
All Sollet’s Cloud based products will be customizable for all countries including India. Sollet will tie up with international consultants so it can take it products to the international markets initially.
Current Status of Company
Currently Sollet has 35 employees. Its current revenue target is 1.2 Crores for current year. Currently the core team invested in the company as individuals apart from few known individual investors. Sollet plans to go to VCs once it has its niche patented products ready by April 2013.
Road Ahead / Challenges
Solletforsee challenges in having sufficient funds for its investions and marketing them when they are ready. Sollet is trying to rope in businesses with its current expertise, generate revenue and fund it internally. Sollet believes that bringing external investment at this juncture might derail its disruptive innovation plans and hence focused more on it’s internal fund generations. Sollet has deployed necessary resources to tap in the market for necessary internal fund generation through projects.
Ramesh Baswa
Ramesh Baswa has founded Sollet Soft Solutions Pvt Ltd(Sollet) along with his colleagues Ratna, Rama Krishna Raju(Kasi) and Jameel in 2012. He has established Sollet with a great vision of bringing Cloud based IT Eco systems to the world helping the society to be more empowered and work in an efficient manner. He has the unique thought process of bringing up an innovative IT company far away...
