Stephen King once stated, “Talent is cheaper than table salt. What separates the talented individual from the successful one is a lot of hard work.” Vijay Mishra, the Managing Director at Melstar Information Technologies Ltd is one of the major IT solution providers to the Banking, Financial Services, Insurance and IT sectors has achieved the level of perfection by abiding these words throughout his life.
Melstar is the IT Company established in 1986, came up with an IPO and was listed on the BSE and the NSE in 2000. The company is a CMM Level III Assessed and ISO 14001:2004 Certified and has its Head Office set up in Mumbai engaged in Sales/Marketing. Being a customized IT friendly company, Melstar is serving clients with office locations in USA (New Jersey), Bangalore, Hyderabad, Chennai, Gurgaon, Pune and Kolkata.
Vijay heads this company and strives to create world class IT organization in terms of technology and people; providing outsourcing services in developing and supporting e-commerce solutions, software applications and business consulting. Observing the latest trend in the industry namely the e-commerce, Melstar has redefined its business objectives accordingly. Vijay exclaims, “During the time of turnaround of the company, Mr. Yash Birla has always supported me and always given a freehand to all the decisions which I take. And till today, he along with his elder son Vedant is always there to support me and my decisions. I just wish the confidence and trust he showered on me, always stay with me forever.”
Apparently, Vijay believes that new India will be digitally taken over entirely; going ahead with this Melstar is supporting the Digital India programme initiated by Government of India; wherein they will be making applications to reinforce the era by spreading digital education all over widely.
The organization has a continuous growth in IT due to its partnership with IBM as the preferred partner for India. Their present focus lies on business opportunities in Domestic Market.
Vijay pursued post graduation in Business Management with specialization in Finance from Narsee Monjee Institute of Management Studies Mumbai (NMIMS). He is an active associate member of Institute of Company Secretary of India (ICSI) and also an associate member of the All India Management Association (AIMA). In addition to this, Vijay was the man known by the company with an extensive experience in project management, financing, education and concept development for fifteen years. During 2013 in November when Melstar was at the crosswords of selecting the perfect path for the technology, Vijay took over as the Managing Director of the company, making this one of the most memorable incident in his life. This decision was much-needed prior to Vijay joining as the time was very crucial for the company.
“I started studying every aspect of the company, conducting in depth analysis. I was then handed over the task of converting this company into a profit making company. I took this as an assignment and started with business process re-engineering,” says Vijay. Earlier, these departments were not co-ordinating among themselves; looking forward to this Vijay has instigated the vision of the company and taught them to work in a united manner for the company. Eventually, hard work always reaps good success, thus the growth for the year rose up to 30-35 percent with same number of employees and the company incurred great profits and gained immense success.
Unparallel Services Catered
Melstar specially offers application consulting business, application design and development, virtual off shore development facility, application/ product testing, application support and IT infrastructure services.
The company maintains a target for private as well as for Government sectors. Melstar currently acts as a ‘distinguisher’ by creating various applications for disparate corporate like, ERP softwares, banking softwares deployed for varied requirements. Nevertheless, the organization has conducted large projects for Fortune 500 customers too.
Melstar has over 22 years of success and growth in the IT Industry making them unique in the sense. One of the many reasons for them to be successful is the strong local capability linked with offshore development services.
The prominent backlog faced by Melstar currently is slow down in the economic growth in the domestic and overseas market. “Another major challenge is recruitment of talented workforce, especially overseas. There is shortage of talent required for specific domain/ technologies,” adds Vijay.
Marshal Industry Obligations
It has long been speculated that information technology (IT) has the wherewithal to shift the boundaries enclosing where production takes place. Equivalently, Melstar manages sections referring to supply of trained manpower and ancillary services. The main revenue streams are Staff Augmentation and Project Business as 85 percentage of the revenue is generated from these two sectors.
Vijay explains by saying that, “The other focus area is our Dispatch Tracking System (DTS). This system is basically for companies wherein there is a need to monitor the time period and send periodic reminders to customers respectively. This is an automated system which reduces the requirement of manpower used in managing customers. The system is very well installed by us in insurance companies like Bhrati Axa Life Insurance, Birla Sunlife.” Amid of the previous fiscal year, Melstar was having 2-3 products in the market and were also limited to only 2-3 clients who covered 70-80 percent of the total turnover of the company. This culminated the company to be client centric and business became more risk prone. “As if we used to lose one client, then our whole business used to suffer,” states Vijay. Therefore, shortly they have diversified their business risk and have added new products in the basket along with new clients. Hence, currently those clients held 35-40 percent of the total revenue share of Melstar.
Expectations ‘In the Course of Time’ Vijay concedes to the strong mission of the company and expects for a bright surplus in the years to come. The mission exclaimed by Vijay, “We offer highest value proposition to all our customers in the area of application management services and also by providing a unique sustainable cost reduction model on long term basis,” Firstly, the company aims to focus on School Management Software (SMS); wherein they have already developed a kind of software for the schools that will keep a record of the attendance, report card, grades, fees, etc. These records will be fed in the software generating number of reports in fraction of seconds. This eliminates the heavy effort and time consumption of the school management utilized in maintaining a separate register and to collect all information from various sources at the end of the year. Vijay concludes by saying, “The second focus area for us in future is Government Project. We will support Government of India in its new initiative of Digital India. We’ll ‘stand by’ them to distribute services digitally as well as to spread digital literacy and education all over widely.” “We offer highest value proposition to all our customers in the area of long term application management services “