Great Companies: How did you get your idea or concept for the business?
Mohammad Atiqure Rahman: From the beginning, I was involved in business management and very tech-savvy. I learned that in India, there are very few software companies providing standard software with standard business management procedures. So, I decided to come up with a new product that could cater to all the departments in every business.
Great Companies: What are the various services provided by Nano Informatics Private Limited?
Mohammad Atiqure Rahman: Currently, we have only one product, which is ACCU360 ERP. We are also planning to introduce factory automation and IIoT (Industrial Internet of Things). By the end of this year, we will be launching our Industrial Internet of Things solution.
Great Companies: What makes Nano Informatics Private Limited different from hundreds of other similar service providers?
Mohammad Atiqure Rahman: There are many products in the international market, but as a pure ERP system, you will find hardly 10-20 companies worldwide. Many products use the term "ERP" in their service or product names, but when you actually use their product, they only provide a few modules like accounting, inventory, purchasing, and sales. However, to be considered a comprehensive ERP system, it should cater to all the segments.
Now, let's talk about those who provide ERP products like SAP, Oracle, Microsoft, Odoo, etc. Their licensing and implementation processes are very complex. They charge for every module, and sometimes extensive customization is required.
After understanding all the problems in the market and existing products, we developed ACCU360, which is a comprehensive ERP system that includes all the modules. With our single license, you can access all the modules without the need for separate module-wise licenses.
We have also replaced SAP and Tally in some companies with our product, ACCU360 ERP.
Great Companies: What were the struggles and challenges you faced, and how did you overcome them?
Mohammad Atiqure Rahman: Of course, there have been many struggles. As I started the company without any investment, we had to focus on sales from day one to meet our daily and monthly expenses. In the beginning, we struggled with zero sales for almost 2 years and even more, I think. When we started dealing in ERP software, there were very few customers who wanted that kind of solution, even after knowing the benefits. So, the market was not ready for ERP at that time. After all the struggles, we are finally in a good position, generating good revenue, and expanding our business in the Middle East and Africa.
I cannot fully describe all the struggles in words, so I'm just giving you a brief overview.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for Nano Informatics Private Limited?
Mohammad Atiqure Rahman: We conducted a valuation and forecasting 6 months ago for investment purposes. After considering our market share, product quality, and high customer satisfaction, we are expecting revenue of Rs. 3540 crores. We anticipate that 67% of our revenue will come from the foreign market.
Great Companies: If you had one piece of advice for someone just starting out, what would it be?
Mohammad Atiqure Rahman: I would advise any newcomers to thoroughly study the subject before starting any business and not to focus solely on investment. First, make sure that your product truly satisfies your customers' needs. Be involved in every business process to understand the consequences of your decisions before it's too late. Keep your team small and establish a strong hiring process so that you can hire the best manpower. Having the best manpower can eliminate unnecessary headaches of teaching them about their duties, giving you