In the world of entrepreneurship, there are numerous inspiring stories, but few can match the ingenuity and resilience demonstrated by Akash Joshi, the Co-Founder and Director of IMAST Operations Private Limited. What began as a small venture with an initial capital investment of ₹5 Lakhs has now blossomed into an organization valued at ₹200 Crores, a beacon of innovation in the customer relationship management (CRM) and loyalty solutions sector.
The Beginnings of Akash Joshi
Born and raised in the quaint town of Dewas, Madhya Pradesh, Akash Joshi’s journey to success is one of both ambition and perseverance. Coming from a family with no background in entrepreneurship, Akash’s path was anything but easy. However, from a young age, he exhibited a natural curiosity and a desire to understand the world around him. These qualities led him to pursue an engineering degree, followed by an MBA, which laid the foundation for his future career.
Over the course of his 15-year professional career, Akash gained extensive experience in technology and marketing communication. He worked with well-established companies like Kirloskar, HNG, and Reliance, gaining subject-matter expertise in loyalty programs and CRM solutions. Despite his success in the corporate world, Akash’s entrepreneurial spirit began to take shape. The idea of solving the persistent problem of fragmented systems in post-production operations for organizations became his driving force. Akash realized that there was a significant gap in the market for integrated solutions that could simplify complex business processes, and he saw an opportunity to create something that could transform the industry.
The Birth of IMAST Operations Private Limited
In 2016, Akash took a bold step forward and co-founded IMAST Operations Private Limited. The company’s mission was clear from the start: to provide businesses with an integrated CRM and loyalty solution that would address the challenges they faced with managing multiple disconnected systems. With a team of passionate professionals and a clear vision, Akash and his co-founders set out to develop a SaaS-based product that would change the landscape of customer relationship management in India.
IMAST Operations Private Limited started small, with an initial capital investment of ₹5 Lakhs. However, Akash’s rich experience in technology and his background in marketing communication allowed him to quickly identify the pain points of businesses across various sectors. He realized that companies were grappling with fragmented systems for sales operations, customer engagement, and after-sales service management. Akash was determined to solve these problems and offer an integrated platform that would streamline operations, save time, reduce costs, and enhance customer satisfaction.
The IMAST Solution
At the heart of IMAST’s success lies its flagship product, the IMAST 360 Sales CRM. The SaaS-based solution is designed to offer a comprehensive set of tools that businesses can use to manage their sales operations and customer relationships. The product includes several modules that cater to different aspects of sales and customer engagement:
- Sales Force Automation (SFA): Automates the sales process, ensuring that sales teams have the tools they need to be more efficient and effective.
- Distributor Management System (DMS): Helps businesses manage their distribution network and track performance in real-time.
- Loyalty Program Management: Enables businesses to create and manage loyalty programs to retain customers and increase sales.
- Service Management: Provides a system for managing customer service operations, including after-sales support.
- Inventory Management: Ensures that businesses can track and manage their inventory with ease.
Beyond the software, IMAST also offers end-to-end loyalty program management services. This includes managing everything from reward disbursal to designing custom loyalty programs. IMAST’s unique selling proposition (USP) lies in its ability to provide real-time, multi-gateway cash reward disbursal and a 48-hour turnaround for custom report creation. The platform is also multilingual, catering to businesses across India and beyond.
The Journey to Success
Despite starting with limited resources, Akash’s commitment to delivering high-quality, customer-centric solutions paid off. By focusing on solving real business problems, IMAST was able to attract clients from a diverse range of industries. Today, IMAST serves over 100 clients across 18+ industries, boasting an impressive 95% client retention rate. The company’s rapid growth and success can be attributed to its ability to offer a comprehensive, integrated solution that simplifies operations and drives better business outcomes.
IMAST’s business model, which revolves around providing a SaaS-based product on a license basis, has proven to be highly scalable. The company’s ability to adapt to the unique needs of different industries has allowed it to expand its client base and increase its market share. IMAST’s loyal customer base and its impressive retention rate are a testament to the company’s commitment to excellence.
In just a few years, IMAST has grown from a startup to a company valued at ₹200 Crores. The company now employs over 300 people, all of whom are dedicated to delivering top-notch solutions to clients across the country. Akash’s leadership has been instrumental in the company’s success, as he has consistently focused on building a strong team, fostering a culture of innovation, and staying ahead of market trends.
Impact on the Market and Society
IMAST’s solutions have had a profound impact on the market and society. By providing businesses with an integrated platform to manage their sales operations, customer engagement, and after-sales service, IMAST has helped organizations save time, reduce operational costs, and improve efficiency. The company’s solutions have also enabled businesses to offer better customer service and enhance the overall customer experience.
In addition to its business impact, IMAST’s success has contributed to the growth of the technology ecosystem in India. By developing cutting-edge solutions, IMAST has shown that Indian companies can compete on the global stage and deliver world-class products. The company’s success has also helped create jobs, providing employment opportunities to hundreds of professionals in the technology and sales sectors.
The Road Ahead
As Akash looks to the future, the journey of IMAST is far from over. The company is constantly innovating and refining its solutions to meet the evolving needs of businesses. With a strong product portfolio, a dedicated team, and a clear vision for the future, IMAST is poised to expand its reach and continue its upward trajectory.
Akash’s entrepreneurial journey is a testament to the power of perseverance, innovation, and a customer-first approach. From humble beginnings with an initial investment of ₹5 Lakhs to building a company worth ₹200 Crores, IMAST Operations Private Limited is proof that with the right mindset, determination, and vision, anything is possible.
In the coming years, Akash plans to further expand IMAST’s product offerings, enter new markets, and continue to build on the company’s already impressive reputation. Whether it’s improving customer loyalty programs, enhancing sales operations, or offering cutting-edge CRM solutions, IMAST’s mission remains the same: to provide businesses with the tools they need to succeed in a competitive world.
Akash Joshi’s story is not just one of business success; it’s an inspiring narrative of how passion, innovation, and hard work can turn a simple idea into a multi-crore enterprise that changes the way businesses operate and interact with their customers. Through IMAST, Akash has not only built a successful business but has also made a lasting impact on the industries he serves.
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