The utility world is changing drastically with every passing year and enterprises are optimizing the entire operation of a utility. A smart enterprise extracts insights from data provided by multiple sources to drive efficiency, grow customer satisfaction and bolster safety records using every available resource.
Every enterprise seeks the right analytic solution to showcase early and quantifiable results and to enable budgetary flexibility through business impact in both cost and revenue drivers. Analytics have always been viewed as outlying to the core business of utilities.
With the ever-changing landscape of the industry, the need for analytics is rising abruptly and rapidly. Analytics consulting companies are at the peak of their business and marking their territory in the industry.
Archna Wadhwa recognized the opportunity for corporates to imbibe the culture of analytics and therefore she established Analytics Saves at Work (aSaw) in 2015. The company has its offices in the UK and India with a partner’s office in Hong Kong.
In-conversation with the founder, Ms. Archna Wadhwa, we found a lot more about Analytics Saves at Work
Can you brief us about the history of your company?
It is a 2.5-year-old boutique consulting company operating in the area of analytics. The company was founded with a vision to be a leading analytics consulting firm known for value creation for its clients through innovation.
The fact that there is more than 40 trillion gigabytes (zettabytes) of unstructured data which is yet to be explored provided me with a mammoth opportunity and inspiration to launch aSaw. Companies would witness an average of 300% increase in profitability if they monetize the data. And although big corporates have their own in-house analytics team, they do not necessarily generate incisive insights from publicly available data. Hence, I decided to start my own company to help clients make highly efficient and judicious business decisions.
We have the expertise in leveraging data from social media and other external sources. And aSaw has the best-in-class industry experts as advisors and consultants globally.
Our Company has unique capabilities in analyzing external data including unstructured data, be it for sales lead generation (Product-SoldiT) or detection of money launderers (Product- SPyDER), which set us apart from our peers.
Can you provide brief information on your service/product offerings and how does it benefit your clients?
We leverage social media data along with publicly available data for quality lead generation, risk analysis, account validation, due diligence, real-time monitoring and fraud analytics.
SOLDiT- It is a product developed to generate high quality leads for businesses. It captures the intent of individuals on various platforms. This product not only provides clients with a list of potential leads, but also socio-behavioral details that would help the client build a more personalized relationship with the customer thus reducing follow-up time to close the deal.
SPyDER- It is a product developed to address various regulatory compliances. It’s unique in its capability of assigning a risk score for each customer. This platform can be used for KYC, Due Diligence and anti-money laundering.
How do you position yourself in the current domain? How do you amalgamate latest technology with business objectives?
The financial analytics market is estimated to grow from $3.65 billion in 2013 to $6.65 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 12.9% from 2013 to 2018.
The Fraud Detection and Prevention (FDP) market size is estimated to be USD 14.37 Billion in 2018, at a Compound Annual Growth Rate (CAGR) of 20.1%.
Fines paid by banks were roughly around USD 4 Billion in the last 4 years for non-compliance to anti-money laundering framework. The base year considered for the study is 2016, and the market size is calculated from 2017 to 2022.
We see a lot of potential to grow in BFSI and gaming industry with our products SOLDiT and SPyDER. Apart from these products, aSaw also provides corporates with business insights in the area of marketing, operations, and risk management.
Currently we have 6 clients, out of which 3 are Fortune 100 companies.
What is the target area of your clientele? Any specific sector you want to highlight?
To be specific with the clientele and sectors, we are currently focusing on Banking, Financial services and Insurance and have very recently entered the Gaming Industry. While other sectors have equal potential for analytical services, these are the cherry picks for aSaw bringing revenues.
What are the challenges faced by you and your company?
Funding can be a bolster for any startup. We are looking for investments to scale up our products and build a sales team globally to take the company to the next level.
Also, we need to be ahead of our competitors and continuously come up with new services and products to create value for our clients. Therefore, need for the best team and innovative ideas is core to the company, which is both an opportunity and a challenge in itself.
What are your future focus areas?
Right now, we are focusing on the BFSI and Gaming industry, as these two industries are in the spotlight. Along with BFSI and gaming, we may enter Oil & Gas and SME’s in 2018 as these two Industries would contribute to over $45 Billion for analytical services by 2024.
Meet the leader behind the success
Ms. Archna Wadhwa is the Founder and Chairperson at Analytics Saves at Work. Archna has more than 15 years of experience and has had an accomplished career in the corporate world. She has been successful in bringing cultural change to global organizations through harnessing the value of data. Archna is a change leader and innovator with the knowledge and expertise to bring about a positive impact to the bottom line of a firm.
Archna holds an MBA from the Indian Institute of Technology Kharagpur and a Bachelor of Engineering from Punjab University, India. She has done ‘Performance Leadership’ at London Business School and ‘Creative Writing’ at Oxford University, UK.