The Silicon Review
The concept of shared ecosystem is going through an exponential growth curve and has grabbed considerable attention of the stakeholders and businesses across the globe. Sharing ecosystems and economies are quite appealing due to the fact that the sharing platforms can create a win-win situation for everyone. Moreover, the benefits that they bring with them are manifold such as on-demand access to goods and services and effective utilization of all the inventory assets across industries, leading to increased employment, digital literacy and consumerism.
Rizen Infotech Private Limited believes that the sharing ecosystem can help businesses position themselves ahead of innovations and capitalize on new sources of revenue. It also offers tools to improve your compliance & reporting. Rizen Infotech’s services are multiple but the prominent ones are debt recovery, LifeDekho – life skill coaching, Taxation, Smart Procurement, Re-skilling, content & brand management, ERP & AI implementation and project management consulting.
Interview Excerpt: Rishabh Kumar Sawansukha, Founder & Sudhir Kumar Singh, Co-Founder
Tell us something about the history of your company.
Started in October 2015 as Brand GSTStreet, so far we associated with 42 Industries associations and have launched more than 100 events to create awareness about GST and how shared ecosystem can best help large clients to smartly deal with complex GST issues. Then we moved to GCC and UAE market with VATStreet brand and established premier partnerships there to help MENA clients to set-up their shared service centers with us in India. TaxStreet was set up to take care of project consulting and delivery of shared services in M&A & Transfer pricing and Tax Structuring related work for large clients having global presence. BizStreet was formed to give more focus to business issues like Supply Chain, R&D, Brand Strategy, Packaging, Total Cost Management and Revenue Growth as a package with legal, finance, tax, accounting, compliance & business support like Training, Life Skill Coaching, ERP, Process Automation, AI, IOT, RPA, Machine Learning and Debt Management. BizStreet will soon launch LitigationStreet to make the fight for legal rights more affordable and credible with premier service offerings.
Can you tell us about your market landscape?
Our market is largely comprised of B2B and some B2C companies as a shared ecosystem of 400+ best experts rendering five core services, i.e. Tax, Technology, Training, Transformation as a service and Talent Sourcing. Our five core themes are Air, Food, Water, Healthcare and Transport. In the first three years, we touch based 5000+ corporates and helped reputed law firms and advisory firms with innovative tools. While forming BizStreet, idea was to holistically fulfil genuine business needs of our clients with shared expertise, experience and execution power to deliver large and complex projects.
Our Shared Ecosystem philosophy is new & evolving. Match-making in consulting has generally not scaled up due to certain pitfalls so far, and we are determined to change that to enhance the wider acceptance of phygital delivery mode. It is immaterial that who owns the client, what make sense to us is how best client can be serviced to achieve more client satisfaction.
What were the hurdles that you initially faced while building your business?
The biggest hurdle was to make people adopt shared ecosystem for their consulting, business and litigation needs. Another challenge was to ensure delivery quality of services. We chose to deal with only premium service providers with relevant delivery bandwidth to avoid any service quality issue. We introduced Key account management concept with two-way approach in cross referral to leverage expertise and expansion of bandwidth of every partner through ecosystem. The average age of our partners post qualification is 15 years and that’s getting us repeat orders and references now. To maintain quality and seriousness among the ecosystem partner towards client need, we will be introduce various mentorship and management development modules with international experts.
What would you say was the single most influential factor in your business’ success?
The joining of Big 4, Big 10 and Big 20 firms in Tax, Legal & Technology was the most influential factor in our business success. We are currently focusing on Taxation, Shared Services, Centre of Excellence on BOT basis, setting up KPO Sourcing, Debt Management, Building Brands & innovative Distribution Channel, CFO World activities, Life Skill Coaching and Ayushman Bharat.
In addition, being a premium shared ecosystem instead of a hired one helped us being limitless and will continue making us create value in US$ 20 billion+ market for premium consulting and litigation support.
How satisfied are your clients with your service? Can you share some of your client’s success stories?
We provide consortium of best experts after understanding client needs. Few of our Case studies are
What are the areas that you are majorly focused upon?
Our focus is to bring benefits of design thinking in all areas of Business support. It includes Funding, Debt Management, Taxation & Litigation, Talent hunting, Technology adoption, Training and Life Skill Coaching with world class experts. Our thrust areas are Air, Food, Water, Healthcare and Transport where fundamental changes will take place to bring new business
avenues which will have more social and sustainable impact on us.
The leaders behind the success
Rishabh Kumar Sawansukha, Founder – BizStreet & GSTStreet, Secretary General – CFO World , Patron JITO and Member Jain Business Network and Tajurba International
Rishabh is a CA and Masters in Business Finance, Entrepreneur with 18 years of experience with Indian Oil, Schlumberger, Oracle, Coca-Cola, CloudaCar, Snapdeal as Taxation, ERP & Finance expert. He founded GSTStreet, TaxStreet, VATStreet, LifeDekho and BizStreet.
He is a sharing economy enthusiast and passionate for collaborating best expertize in the areas of Air, Food, Water, Healthcare and Transport.
Sudhir Kumar Singh, Co-founder & CEO - BizStreet & GSTStreet
MCA from BIT Mesra, Ranchi and IIM-A Alumnus, Sudhir is a seasoned life coach with global experience in IT and Managing Center of Excellence in Life sciences, Healthcare, Banking, and Manufacturing, etc. He Co-founded TaxStreet, VATStreet, LifeDekho and BizStreet. After 18 years of Technology & Management leadership with companies like TCS, Infosys, Avalara and Computer Associates, he joined GSTStreet to lead Technology, Talent & Transformation Practice along with Operations and Strategy aspects of the organization.
Amit Mundhra, Co-founder, TaxStreet Global Shared Services (GSS)
Amit is a CA, CS and LLB with 20 years of professional services, advisory and audit experience. TaxStreet GSS caters to the needs of large MNC and startups in setting up mobile based accounting, compliance and MIS systems.
Atul Chawla, Co-Founder
Atul is a CA and passionate sufi singer as well. His areas of interest include training, private equity and Debt Funding. He believe that meditation has answer of all stress related problems.
What Partners Says about BizStreet
Mr. Vaibhav Jain, Director INMACS, who is a platinum partner in the ecosystem believes that innovation is need of the hour and BizStreet ecosystem has added significant value in terms of Business Development & Growth. It has also helped in augmenting Business delivery capability for sustainable growth and its business model is based on trust and transparency with laser sharp focus to deliver best services to clients.