Iotasol

Can you please provide a brief history of Iotasol and your role within the company since its inception?

Iotasol is a custom web and mobile app development company that came into being in 2010. The birth of Iotasol was the result of my years of yearning to start my entrepreneurial journey.

I have had the dream of becoming an entrepreneur ever since the start of my career. I always knew that I wanted to become a business owner. To pursue this dream, I did my research in various sectors and even tried my luck in a few of those. But, finally decided to stick to what I knew best, software development. This is how Iotasol came into being in May 2010, The journey was nowhere close to easy.

I work in the capacity of the founder and chief executive officer of Iotasol. Iotasol has had a journey of 13 years so far. Upon its inception in 2010, I single-handedly operated as a one-person team, handling project acquisition and delivery for a period of time. Soon after I was joined by a cofounder, and we took it forward together from there. We worked on building a team and performed multiple roles ranging from managing processes, documentation, resources, client interactions, and expansion strategies.  With more people joining in as employees, we have been able to delegate work.

If we talk about the present scenario, my major role or contributions revolve around balancing all the wheels ( with the cooperation of other executives) by establishing a company culture while staying true to our values, building long-lasting relationships with our clients by making sure that we are living up to the quality standards, working on growth opportunities, and staying competitive on the technological front.

What unique offerings does Iotasol bring to the competitive world of software and web development? 

We are the industry experts in solving the problems of businesses by creating scalable, cost-effective, and efficient software solutions. We achieve this aim by collaborating with entrepreneurs and converting their ideas into digital reality. We back our clients as their complete technical partners and participate in shaping their vision, reviewing their business, creating solutions that align with their vision, and supporting them at every step post-delivery for future growth and evolution of the product. Apart from this, we empower businesses by creating software solutions for them to streamline their internal business processes and make them more efficient and productive.

Given that the technological landscape is continually evolving, how does Iotasol ensure it remains at the forefront of industry trends and technologies?  

First, being at pace with technological advancements is one fundamental necessity in our business. So, to achieve this goal, we encourage our team members to subscribe to various forums and newsletters where they get all the relevant information about the changes in technology.

Secondly, we have assigned different people as SPOCs (Single Points of Contact) for different technologies. Their responsibility is to learn about all the new changes in that particular technology and share their knowledge with others. This way, the whole team stays updated.

Also, we organize technical sessions in our company every two weeks or so, where new technological updations are discussed. This way, we keep brushing up on our technical skills and then applying those learnings to the projects at hand.

Can you tell us about a major challenge Iotasol faced recently and how it was addressed?

One of the most significant challenges that our software development company recently encountered was the integration and adoption of artificial intelligence (AI) technology. As AI rapidly evolves and reshapes various industries, it became imperative for us to leverage this technology to stay competitive and meet the evolving demands of our clients.

To address this challenge, we implemented a strategic approach centered around empowering our team members to harness the power of AI. Recognizing the importance of upskilling and staying at the forefront of technological advancements, we invested in comprehensive training programs and resources that allowed our team members to develop a deep understanding of AI concepts

As CEO, how do you balance the demands of managing both the business and technology aspects of the company?

First and foremost, I prioritize staying updated on the latest technological advancements relevant to our industry. I actively engage in continuous learning, attend conferences and seminars, and read industry publications to stay abreast of emerging trends and innovations. By doing so, I ensure that I have a comprehensive understanding of the technological landscape, enabling me to identify opportunities and make informed decisions that align with our business goals.

Additionally, I recognize the importance of building a talented and knowledgeable team that can support both the business and technology aspects of the company

Delegation plays a vital role in managing the dual responsibilities of business and technology. I delegate responsibilities to capable individuals within the organization who possess the necessary expertise in specific areas. By entrusting them with relevant tasks, I empower them to make decisions and take ownership of their respective domains. This not only ensures that all aspects of the company are effectively managed but also enables me to focus on higher-level strategic planning and decision-making.

Iotasol has a global clientele. How does the company handle working across different cultures and time zones?

Iotasol recognizes the significance of effectively working across different cultures and time zones to meet the needs of our global clientele. We have established partners in various locations, which play a vital role in managing operations across different time zones and enhancing our cultural understanding.

Our local partners in different regions allow us to have a physical presence and local expertise in those areas. These partners act as an extension of our team, enabling us to provide seamless support and services to clients in their respective time zones. 

By having a network of partners, we ensure effective communication and understanding with our clients across different cultures. This approach fosters stronger relationships, builds trust, and enhances the overall client experience.

What role does corporate culture play at Iotasol, and what efforts are made to foster it?

We have a very friendly environment, we don’t have a rigid subordinate and senior culture in our organization. We all are friends irrespective of the role we are performing. Everyone gets an opportunity to act as a leader and everyone has his own ‘SAY’. We give everyone an equal opportunity to let them work in the way they desire. We work relentlessly to give our best and always give full support to clients when needed. As a team, we follow a "Never Say Any Attitude" and go the extra mile when required to produce the intended solution with quality and on time. We focus on 3 important pillars - Client, Our Team, and Society and give importance to all of them, and where needed we back the person who is right irrespective of its short-term impact on billing or anything.

Can you talk about any significant project or client that significantly contributed to Iotasol's growth or reputation?

The success of Iotasol, our software development company, cannot be attributed to just one project. Instead, it is the culmination of a portfolio of significant projects that have served as the backbone of our growth. These projects, originating from esteemed clients in Australia and the USA, have been instrumental in ensuring our sustainable success.

Looking towards the future, what is your vision for Iotasol in the next five to ten years?

We can develop a successful delivery model in one country and now we look forward to replicating that model in different countries in the coming years. It has played a significant role in our growth as an organization.

We are already working on multiple products internally and are excited to launch them as soon as possible and working towards creating a parallel pipeline for revenue generation around the products.

We are exploring different complementary service offerings which we can add to our umbrella which not only will increase our opportunities to grow and also give us a stronger position in front of our existing clients and represent us as a one-stop-shop for everything. 

What advice do you have for aspiring entrepreneurs looking to make a mark in the software and web development industry?

Beginnings are always hard and it is harder when you are getting into the shoes of an entrepreneur. One should calculate the risk and financial pressure involved in the respective venture if things do not turn around. Apart from this, before one starts, one needs to identify and be prepared for all the roles and responsibilities that one needs to take on since the number of resources is limited in the beginning. 

One should have something to fall back on in case things do not go as planned. So keep a plan B ready. Moreover, one must understand that results take time, so hold on to persistence and confidence. It might get emotionally, financially, and physically taxing at times, but that's how anything is built, isn’t it?

Apart from this, there are a few lessons that I have learned from my challenging times.

• Nothing comes until it comes - Never be sure that a project will land in your pocket even if the pitch looks 100 percent in your favor. This way, you can maintain a balance between resources and speculations.
• Risk mitigation plan - In the competitive market, success is fickle and never permanent, so one must always have a strong risk mitigation plan ready.
• Maintain cash flow - You should have a clear picture of cash flow for at least one year and should have the backup to meet the contingencies successfully.