CXOToday has engaged in an exclusive interview with Mr. Vinet Kuumar, CEO, ThoughtSol Infotech Pvt. Ltd.
- Tell us about the brand and its offerings? How and when did you decide to start the company?
Founded in 2014, ThoughtSol is a prominent, youthful, and dynamic IT services and solutions provider that focuses on empowering businesses with digital transformation. Among the four pillars of digital transformation, we take pride in specializing in two of its core aspects, i.e., Cloud computing and Cybersecurity. Our goal is to help them become more efficient, productive, and secure whilst achieving maximum success in their digital transformation journey. We provide a complete range of services including IT strategy, deployment, and management. Our team of experts provides complete end-to-end services that are tailored to meet our customers’ individual business needs. We focus on providing the best customer experience and helping customers to become more efficient, productive, and innovative. We keep check of the ever-evolving digital landscape to ensure that our customers are always equipped with the most up-to-date solutions.
It is a private limited venture founded by four first-generation entrepreneurs who have spent more than a decade working together and whose collective experience now exceeds 25 years in their respective field of expertise. We were doing great in our respective job profiles, but we had an urge of starting our own organization leveraging our knowledge and expertise in the IT sector. Our goal was to build our business from scratch and reach a higher pedestal within a shorter time frame. We were determined to make a change. So, we embraced the challenge, and after months of hard work, we launched our venture, ThoughtSol.
- Since its inception, how has the company grown so far?
I can proudly claim that ThoughtSol has achieved a remarkable rate of growth since its inception. We have seen a CAGR of 40%, reaching revenue of $35 million in the fiscal year 2021-2022. This significant growth has been driven by our customer-centric approach and our commitment to providing exceptional value to our clients. We have also been able to stay ahead of the competition and remain a leader in the industry by leveraging our innovative technology and delivering high-quality services. We have set an ambitious goal to reach a total revenue of $52Mn by the end of this fiscal year. To achieve this goal, we are investing in technology, expanding our customer base, and exploring new markets. We are also focusing on hiring the best talent from across the world to join our team and improving our operational efficiency while creating a culture of innovation and collaboration.
- How are you planning to overcome current problems like cybercrimes and data security?
As the CEO of ThoughtSol, I am committed to protecting our digital transformation processes from cybercrime and data security threats. To ensure the security of our technology and services, we have taken several steps like developing a comprehensive security strategy that includes both proactive and reactive measures to protect our data and our customers’ data. Proactively, we have implemented strong access controls, encryption, and authentication measures to protect our information. Reactive measures include incident response plans, emergency response training, and breach response protocols. We have also partnered with leading security vendors such as CrowdStrike, Barracuda, Checkpoint, and OneLogin to ensure that our security is up to date with the latest threats. We also have a dedicated team of security experts who are continuously monitoring and analyzing our security posture. In addition, we regularly conduct internal and external penetration tests to identify any potential vulnerabilities in our systems. We strive to stay ahead of the curve in order to prevent and respond to any cybercrime threats.
- What is cloud computing and what is its future?
Cloud computing is the backbone of the digital transformation journey for any organization. It has revolutionized the way businesses operate and has allowed them to save time and money by offering services 24×7 while being elastic in nature, allowing them to scale up and scale down as and when needed. It allows unprecedented scalability, flexibility, and cost savings, making it an attractive option for organizations. As the cloud continues to grow and evolve, more and more services will become available on the cloud and all business applications will be operating within the framework of the cloud.
As businesses become increasingly reliant on technology, cloud computing will become even more important. We are already seeing a steady rise in the number of companies that are using cloud computing to run their operations. This trend will only continue grow as the technology becomes more advanced and more businesses embrace the cloud. With the right security measures in place, businesses can rest assured that their data is safe and secure in the cloud. Overall, cloud computing is here to stay and will continue to be a major player in business operations. The future of cloud computing is very exciting, and I’m excited to see what new possibilities the technology offers.
- What are your plans in terms of expanding your services and business plan?
Our expansion plans are already set out. We aspire is to be 1000 crores by 2026 in terms of revenue growth. To accomplish this, we have planned to implement a three-wave business approach. In wave 1, we plan to expand our services to the adjoining states of Delhi NCR as we see huge potential for our offerings in those geographies. In the second wave, we shall be expanding our services to the south and west regions of India and finally, in the third wave, we plan to become a global player over the course of next five years. This will involve exploring international markets and looking for ways to leverage our existing customer base to expand our services to an international level.
