It is evident to everyone that technology is dominating the modern business environment day by day, be it a small firm or the big corporate. It is a boon for every organization as it solves or minimizes the complexity at workplace. The heap of the manual files and documents have been replaced by the computers and other business gazettes. In this scenario, everyone wants to work best on their part by finishing it on time, every time. For this, we rely on many tools that were never meant to manage our work. WorkApps has emerged as a boon for all who want to manage their entire work in a simple manner.
What is WorkApps?
WorkApps is a business productivity and collaboration company that uses the technology as a key and helps organizations to manage their overall work flow. It provides simple solutions for work management, team collaboration, knowledge transmission, and performance analysis to its clients. The startup helps organizations to increase their productivity by reducing time taken to complete each task through its unique product and consulting business model. While ensuring the innovation and cost effectiveness through its product, WorkApps ensures the customization and deeper impact through its consulting model.
The unique product provides six essential tools in one platform that includes Task List, One To One Chat, Team Discussion, File & Backup, project Working, and Performance Reports. The companies can organize their flow of work through WorkApps product and can also customize it as per their requirements.
How did the idea pop up?
As we know that enterprise is a stable business model and the presence of the product helps an investor touch, feel and see which tree is the money going to nourish. The founders targeted these two very aspects of business and wanted to build very solid and robust product company. Hence, they have conceptualized the idea of WorkApps, India’s first Enterprise Work Collaboration firm. They aimed at helping individuals, teams, departments, divisions, and organizations on a whole to digitize work and democratize work flow. Since every individual wants to do well at his/ her level, WorkApps has emerged as a solution to increase the efficiency and effectiveness at work place in different organizations.
The founder’s team consists of a mathematician, a business grad, and an engineer who together constitute the left and the right brain of WorkApps.
Rudrajeet Desai, Founder & CEO, is a Serial Entrepreneur who spent a decade in building technology products that have pioneered their categories. He is also the author of Breaking Out and Making Big, a ‘Bestseller’ on Startups & Entrepreneurship and also an angel investor.
MVS Murthy, the COO and Co-Founder, has been a corporate executive and has transcended the journey from being on the communication to the digital to the business side of India Inc. A BFSI professional, Murthy, has 19 years of experience in Product Development, Portfolio Management, Channel Management, Strategy & Business Innovation in large corporates like ICICI Bank, Edelweiss & TATA AIG, etc.
Shankar Borate, CTO, is a Computer Scientist from IIT and has over 20 years of experience in building a wide range of products for giants like Adobe, Symantec, Intuit, Siemens & GE on various tech stacks.
Capital and revenues
WorkApps recently has raised $1 million from seed stage investment firm SRI Capital and do not have intention to raise any further funds soon. The company has plans to roll out its product in the US, Europe, and Asia-Pacific later this year. The core of WorkApps lies in getting its clients to adopt speed and agility as integral parts of their DNA and exhaustively use features of WorkApps to power themselves to greater glory. Working under the pay per use model, WorkApps charges its clients periodically on the basis of the users. The company aims to achieve the milestone of INR 10 million in the next ten months.
Competition and other players
So far WorkApps covered over a hundred of India’s top corporates and playing all safe and sound in the enterprise work collaboration space. The company claims to be positioned itself uniquely as the only company that provides all the tools on a single screen along with its in-depth customization capabilities that help clients to co-create and have a unique Product PLUS Consulting Model. Fearlessness is the strength of WorkApps that helped it reaching the heights of success in very less time. The company succeeded in acquiring the clients and working hard towards maintain a very good client relationship for its long term success. Having no direct competition with any firm does not mean the WorkApps has no fear of competition. As the enterprise work collaboration space has wide range of opportunities for new entrants, the company is positive about the healthy competition, even if any new firm enters their way.
Market and growth opportunities
Fortunately, WorkApps did not face any black swan moments so far being a leader in the enterprise work collaboration sector. The company sees a lot of opportunity in India as there are more than 30 million Indians in the organized corporate sector including government. Moreover, the firm believes that where there is work, there will be a need for WorkApps.
A global market research and consulting company based in the U.S MarketsandMarkets forecasts the Enterprise Collaboration market to grow from $47.30 billion in 2014 to $70.61 billion in 2019. In terms of geographies, North America and Europe is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) and Europe are expected to experience increased market traction, during the forecast period.
In recent times, enterprise collaboration has gained more attraction. Due to complex communication and rapid pace of business operations; enterprises are facing strong need for efficient and cost-effective enterprise collaboration solutions. Various efficient collaboration technologies are emerging which help in enhancing the efficiency of employee and reducing the operational cost. Due to expansion of various organizations, enterprise collaboration market presents potential opportunity for both, solution providers and services providers.
A message to budding entrepreneurs
Considering the stages from the idea generation to the final launch of the product, it took around twenty months to form this business. It spent around one and a half year on its product development. The company understands the importance of product model as it attracts the support from the entire ecosystem of customers, suppliers, employees and even regulators. Thus, the Founder and CEO, Rudrajeet Desai advices the budding entrepreneurs to create simple, easy to use products that can create great experiences (value) for customers.