ABSYZ is a boutique cloud computing company where like-minded people came together with a single mission to simplify cloud solutions for customers. ABSYZ is a pure play salesforce.com company with expansion plans to other technologies. The venture currently has about 50+ employees and growing exponentially. Completely bootstrapped, venture claims having achieved break even in 2015. ABSYZ recently registered ABSYZ Inc in the US as well.
ABSYZ is co-founded by Anshul Jain and Balesh Lakshminarayanan, both alumni from T.A.Pai Management. Both of them bring rich experience in Entrepreneurship, Management and Technology coupled with a decade of travel and on-sites, which made them build ABSYZ which is young at heart and has a sort of bay area culture which is another USP.
The Starting Blocks
One the funny stories which founders often talk about is how they decided to start ABSYZ. Balesh was based out of Geneva and Anshul came to Switzerland for his honeymoon. It was one of those casual chats in a small restaurant in Lucern, which kindled the fire in the team. Before they knew it, as they were working on names, websites, and within a year, both of them quit their jobs and came in full time.
“I still vividly remember us working on strategies in a single room of 2BHK in Begumpet. We used to deliberate 10 times to spend $40 per month for a LinkedIn account. From that stage to managing a $500,000 revenue company was definitely a roller coaster ride and it wouldn’t have not been possible without the support both of us got from our family and the faith shown by our team in us.” – Balesh
Striking The Right Balance
They stuck to two important basics and ensured financial prudence. The founders made sure that they kept their clients happy by doing above and beyond. They also ensured their employees are happy. With 4% attrition and 300% growth, it was only a few months time, before they achieved break even. The venture is still extremely frugal when it comes to unwanted startup show-off stuff, but instead, they pool that money back into their employees, getting better systems and better work environment etc.
Marked $500K Revenue in FY2015-16
ABSYZ is completely bootstrapped. The team claims, “At least for now we are a Cockroach than a Unicorn and pretty good at being that.”
The venture grew from about $100-120k revenue to $500k+ revenue in 2015-2016. As per founder, Sales seems to be good and the market looks positive and the team is upbeat about beating their own target of crossing $1million by 2016 year end. The novelty of the organization is their Service Strategy. The fact that they are a small company, therefore, facilitates a faster turnaround time. Efficiently pruning out multiple layers in the delivery cycle, and ensuring most of the resources are multi-tasking and techno-functional developers, enables them to provide faster solutions than their competitors. The venture follows an agile model of expansion and has a consistent association with the existing stakeholders based on their tenacious and timely deliverables.
Founder recalls- “One person, in particular is important for the success of ABSYZ – Shubham Khilauria, who was our first employee and joined us from Deloitte. Taking the leap of faith is not easy and we are glad that he took that decision a year ago. Currently, he heads our delivery team”
A $40 Billion Market & The Challenges
FY2015-2016 saw at least 3 big salesforce.com partner including Bluewolf, CloudSherpas and RedKite getting acquired by IBM, Accenture and Liquidhub respectively. For every dollar sale of salesforce.com license, there are 4 dollars to be made in services. This is a $40 billion market considering salesforce.com is looking at being the fastest company to reach a $10 billion sale. And with a focus on upcoming technologies like the Lightning platform and Thunder platform for IOT, future looks upbeat.
The greatest challenge in this space has been talent availability in the open market. Good developers don’t want to get themselves locked in a single platform especially when they can make similar remunerations as a mobile, ruby, python or UI/UX developer. Getting such people into salesforce.com platform is a challenge being addressed by both salesforce.com and partners alike.
The Way Forward
The immediate plan for ABSYZ is to continue to grow and scale the business further. Once the venture stabilizes, probably at around 125-150 employee mark, they might start considering venturing into other platforms. Till then they want to continue as a pure play salesforce.com partner with exceptional team comparable to global standards.
Anshul is an interesting boss and mentor to have. He can seamlessly switch between a highly professional, core operations guy to an insane party animal in seconds. One of his favorite quotes is – “To write interesting stories, you must live an interesting life“.
Balesh, on the other hand, is a stoic. Calm and quite, always planning the next steps. Balesh once said – “People confuse destiny with a goal. Even if you have a goal and work hard, you are not destined to be successful. You also have to work smart”
If not for their MBA, there was no chance both these extreme characters would have met each other. At the same time, both Balesh and Anshul come from normal middle-class backgrounds and as first generation entrepreneurs have more in common than people perceive. In a poetic way, they complete the two faces of the coin called ABSYZ and that’s what makes them unique.