The Silicon Review
In light of the growing population and globalization, logistics is becoming increasingly challenging. This fact is especially true in developing countries like India. With a population of over 1.3 billion, India is one of the largest markets for logistics solutions for a wide array of industries. Legacies Techno is an emerging corporation that aims to capitalize on this opportunity and capture a dominant share of the Indian logistics market. The firm wants to accomplish this by leveraging the Internet of Things (IoT) technology to solve some of the most complex problems plaguing the country’s businesses.
In conversation with the ambitious CEO of Legacies Techno (P) Ltd., Sathyamurthy Tiroumourty
Why was the company set up? And how did you expand your company and its offerings over the years?
Legacies Techno was founded two years ago. As a startup, we focused on the development of customized applications and delivery services in the e-commerce and logistics sectors for a year. We saw an addressable market need and a great product fit in the transportation and logistics space. Seizing this opportunity, we shifted all our focus in this new and rapidly emerging space. We plan on continuing to carve our niche in providing tailor-made logistics solutions for our growing customer base.
Can you tell us about your market landscape?
We are in the transportation and logistics space with a focus on IoT and digital transformation. The market space is ripe with the evolution of IoT technologies and the advent of the new AIS140 regulatory requirements on the GPS device hardware side. This is a new play given the regulatory and digital transformation needs within our customer segments. We have seen a steady increase in demand since the past couple of years, beginning right from our MVP (Minimum Viable Product) to the current state of our product rollouts.
How do you position your company in the current domain?
We are a market leader. Our approach is unique in the sense that we provide custom software to address the specific needs of every customer and it’s a platform play. With customization and configuration options on our logistics platform, we provide a feature-rich, data-informed and experience-driven offering to address our customer’s specific requirements.
What were the challenges that you initially faced when starting your company?
Even though the marketplace was well poised for disruption in the logistics play, it was a real challenge to convince our customers to try and use our product. Up until then, they have been so used to hardware heavy and software light solution models that it took us a significant amount of time to build the trust and confidence with our custom software offerings. With well-defined MVP and pilot rollouts, we were able to manage and validate our product offerings. Since conception, this has served as a good product strategy base on what our customers are looking for as their next loveable feature.
How has the experience so far shaped your perspective?
Apart from product-related feature updates and enhancements, the biggest learning came from the shift in government regulation on GPS device standards. We have shifted our operational strategy to address this requirement since it also serves as a great opportunity to capitalize on the ingenuity and security front. This has impacted our strategy in formulating a roadmap for the future and we are fully aligned to cater to this new compliance. We have already begun implementing measures to accelerate the adoption around this requirement.
‘It is difficult to start a venture. But far more difficult to maintain it’ - Would you and your team agree on this saying?
At the very least, I will say it is equally challenging. Getting the right idea to the marketplace is a great challenge and once you get the right traction and adoption, scaling your offerings and sustaining growth is equally challenging and a lot of times you need different sets of tools, processes and thinking to address growth.
What are the products and services that your company offers?
We offer a wide variety of products and services to address the various logistics and transportation demands in India. These include Fleet Management Platform including Vehicle Tracking, SOS, Temperature Control, Business Intelligence, SMS, Onboard remote diagnostics and any other IoT enabled sensory monitoring and control capabilities.
How have your products been received by your clients?
Our products have done well to meet the requirements of our customers. I would love to share a couple of successful stories:
It is such stories and many others that have strengthened our resolve to achieve our goal.
Meet the founder and CEO of Legacies Techno (P) Ltd
Sathyamurthy Tiroumourty always envisioned starting a new technology-based startup. He was passionate to provide technology-based solutions for the people to solve their real-time business problems. He graduated with an MCA Degree (Masters of Computer Applications) in SRM University, Chennai. After finishing his masters, he started Legacies Techno (P) Ltd and slowly began building his team. After two years, Mr. Tiroumourty is steadily advancing towards realizing his dream.