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1) Please brief us about your journey with RewardPort?
My journey with RewardPort has been one of sheer delight and a continuous
learning. Never does a day go by that I haven’t learnt something new about human
nature. It has been truly exciting.
2) With a keen interest in Science and Medicine, you started your career as a
Consulting Homeopath. What inspired/propelled you to be the Co-Founder of
RewardPort – India’s leading Loyalty & Reward Management Company?
I chose science and medicine, primarily because of my intense interest in the
understanding of human behaviour. While I started out as a Consulting Homeopath,
because there was still time on hand and I wanted to do something constructive;
low and behold the company was born. This was a dovetail fit for my kind of
interests and aptitude.
3) RewardPort helps Companies build a strong relation with People who affect
their business. Please brief us on the services provided by the company along
with its ‘USP’?
RewardPort is a truly unique organisation; I say that with all humility. Not
only have we learnt as we went along, but we have constantly been inducting
specialized talent and expertise to fulfil the needs of our client companies.
Therefore I must say that our prime USP is the fact that we NEVER ‘standardize’
or patch (force fit) a working model of a program onto another. We always do a
need-assessment and custom build programs. Fundamentally every company must
Promote, Retain, Acquire, Motivate & Reward their Customers, Channel partners
and Employees. What we do is offer a range of products and solutions that
provide a Company with 360 degree service, supporting all these activities –
from doing a comprehensive need assessment, to designing the program, providing
the technology requirements, measuring & monitoring progress, fulfilling
rewards, and eventually reporting to the management.
Currently there is no organisation or service provider that provides such
comprehensive R&R and Loyalty solutions as we do, so that’s the second component
of our USP. We cater to all Industry segments but more specifically to Auto,
Pharma, Telecom, Retail, Media, BFSI, etc. While our solutions range from Need
Analysis all the way to fulfilment our products are essentially experiential,
i.e. Pizza Cards, Food Cards, Coffee Cards, CineRewardz (Movie Card),
Mychoiceofgift (gift Card), etc.
4) Being a relatively new Industry, what does the growth pattern of the
RewardPort suggest?
While the Industry is relatively new, the estimated size in India is
approximately Rs. 20,000 crore (US$4 billion). That is a large size by any
standard and we expect the market to grow exponentially, as more and more
organisations realise the importance of implementing a good R&R program. For us
therefore we see the sky as the limit. We expect growth in excess of 50 percent
per year over the next three years at least.
5) You initially starting with Travel product offerings and now have grown
full fledged into Employee Incentives & Reward Programs. Did you see a shift in
client requirements over the past eight years?
Without a shade of doubt it has been exciting. Every company has a different
focus or angle to its need. Every company has been a learning experience; one
can actually see the maturing of those companies that are committed to R&R
programs. Its true that there has been a shift, as companies try out newer ideas
and rewards they actually graduate from vanilla offerings to more complex reward
systems. Clients become far more demanding as they learn what works for them… We
enjoy such challenges.
6) Do you feel that the growth of the HR Fraternity in India will affect the
Loyalty & Reward Management Industry sector, and if so how?
The growth and professionalization of the HR fraternity will only enhance the
fortunes of the R&R Industry. Today the lack of understanding is all that stands
in the way of the Industry’s growth. Only the more sophisticated HR
professionals truly understand the scope of the ROEI.
7) With the kind growth in the industry, how well equipped is your manpower
to quench the requirements of your clients?
Growth in the requirement for trained manpower will always be a need in the
Industry. We’ve learnt to select good minds and train them to work according to
our norms; one can’t really find readymade ‘professionals’. You have to pick up
good people and create ‘professionals’ of them.
8) Do you practice Loyalty and Reward management within RewardPort? If yes,
how?
You know, it’s said that the TV never works properly in an electronic engineer’s
home! We’re slightly better. We have started with an R&R program and lay heavy
emphasis on a great working environment. If I were to describe exactly how we
work our R&R, the cat would be out of the bag. I’ll just say it’s as effective
as what we design for our clients!
9) What are RewardPort’s growth plans and do you plan to operate in multiple
cities across India?
We have big plans. Besides targeting Rs 500 crore in the next 3 years, we are
undertaking constant expansion in the areas of human resources and technology.
In fact we are in the process of bringing in people from Europe especially for
designing programs. We are already present in Bengaluru, Pune, Hyderabad and
Mumbai, and will be in Delhi and other cities shortly as well.
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