Aiding the Digital Transformation: Nihit Bansal, Founder and CEO, Momentum Controls Software and Services The technology industry, according to Bansal, is the fastest changing marketplace today
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Nihit Bansal is the founder & CEO of Momentum Controls Software and Services which is a niche global technology firm primarily focused in communication technologies, which are core to the digital transformation. These technologies are the major drivers in bringing various industry use cases to life such as smart ecosystem, IoT, AI driven applications, Industry 4.0 etc. Says Bansal, "As an organization we are not only committed to enable these technologies but also to develop, deploy and manage various solutions that drive adoption in the form of such industry use cases."
Bansal further emphasizes that the company's larger vision is to work on technological initiatives that are for the betterment of overall society. Connectivity today is the lifeline of society and COVID times were a testament of it. Our offerings are making the networks globally bigger and better, ensuring the level of resiliency, capacity and performance needed to support the digital wave. We are also contributing significantly to building the smart infrastructure ecosystem that is improving the accessibility and reach of various services such as Smart Transportation/ Cities / Healthcare / Education, Sustainability etc."
The technology industry, according to Bansal, is the fastest changing marketplace today. "Given we help our customers to stay relevant in such an environment it is more important for us to look inwards and ensure we are ahead of the curve. At the inception itself we established a Chief Value Officer role in our organization driving our FAST (Fulfilment, Assurance, Support and Transformation) methodology of running business. Our FAST approach ensures : Proactiveness, agility and flexibility in service delivery Readiness with deep technology skills Profound industry knowledge Talent fulfilment, management and evolution Continuous improvement and transformation."
The biggest challenge is to be able to continuously deliver real value to our customers in various engagements, as per Bansal. "To add to the complexity, the value proposition is not the same for everyone or every time and is generally a combination of multiple aspects such as Quality, Capability, Innovation, Cost, Flexibility, Agility, Scalability, Transformation, etc. Our FAST model has really been the success factor in overcoming this."
Momentum is a profitable bootstrapped organization. "We were always clear that we want to build a profitable business, as all the good initiatives we have talked about are possible only if you can fund them well. We were profitable from the 2nd year of operations itself and continue to make decisions that are imperative to ensure profitability," shares Bansal.
So, what are company's plans in the future, "We strongly believe in sustainable growth and have not fallen into the trap of saying yes to every business that comes our way and neither adopting a 'Spray and Pray' Go-To-Market approach. We are building very strong and strategic partnerships that are deeply invested on both sides. From numbers standpoint, the business has been doubling for us every year and we will continue to see at least over 50%+ YoY growth for the next two years," concludes Bansal.
•Year of inception: Feb, 2021 (Group - 2007)
•No. of employees: 75+ (Group – 200+)
•Revenue for FY 2022-23: Multi-Million Dollar
•External funding received so far: Bootstrapped
•Major clients: Tier 1 Technology companies and Enterprises based in USA and Europe (>B$ enterprises)
•Any IP developed/patented: AI and AR/VR based platforms in works