Cxo of the week: Ayush Jhawar, Co-Founder, Genefied

Genefied is an Anti-Counterfeiting, Loyalty Platform, Influencer Loyalty, Digital Warranty, Supply Chain Traceability based IT Services and IT Consulting company. Genefied assists brands by providing end-to-end traceability through the Supply Chain and Anti-Counterfeiting solution with the help of technology and innovation.

The goal of Authentication and Brand Protection is to preserve the originality of the brand, protect it from harm, and win over customers. Authentication and trademark protection are two important challenges that small and large brands alike confront as a result of rising digitalization. These methods are used to ensure that counterfeiters cannot violate intellectual property rights or copy the products, preserving consumer confidence and brand reputation.

Recently we have engaged in an interview with Ayush Jhawar, Co-Founder, Genefied. He shared his views on how genefied assists brands by providing end-to-end traceability through the Supply Chain and Anti-Counterfeiting solution with the help of technology and innovation.

Introduction.

The issue of counterfeit products has assumed significant importance worldwide as companies across the globe are battling fake offerings to save their hard-earned credibility and brand names. Genefied is dedicated to the fight against fake products and by offering solutions to ensure the availability and purchase of only genuine products, the startup is helping businesses across product categories and service domains.

A brainchild of Ayush Jhawar and Kapel Malhotra, Genefied came into being in 2018 and since then, it's offering QR-code solutions to help differentiate real products from fake ones. Today Genefied is well-recognised for its solutions in the domains of anti-counterfeiting, loyalty management, traceability services, and digital warranty management services. Besides, the company is emerging as a significant player in offering allied business solutions such as Rewardify, Scan&Win, DWAM and SupplyBeam among others.

How has Covid-19 accelerated the transition to digital for the IT industry? What will be the new normal in the industry?

For us, covid-19 has turned out to be beneficial as people now are more familiar with digital technologies and scanning the QR codes through contactless payments or ordering at restaurants. Unlike in the past, today stakeholders in business ecosystems including customers have become digitally savvy, giving impetus to adopting QR codes across product categories and service domains. The rise of QR codes is quite apparent and its widespread adoption is fueling the next wave of growth for digital technologies. In fact, QR codes are fast becoming the mainstream of businesses and it is just a matter of time before this revolution spreads and helps businesses drive their future growth and profitability.

What, as per you, are the five important things that Genefied should be looking at today?

Genefied’s vision is firmly underpinned by the “Delegate, Enterprising, Eliminating, Automation, & Liberation (DEEAL)” Philosophy. We focus on Delegating Authority to our staff so that they feel empowered to make the right decisions for both company and clients. Onboarding large Enterprises to help them with their automation, and loyalty management solutions is the second pillar of our working culture. The third important tenet of our strategy is to eliminate distractions from work. We at Genefied strongly believe that anything that doesn't add value to clients must be taken away from our functional procedures and operational mechanisms. The fourth important thing is the Automation strategy as we carefully plan and implement automation to enhance the efficiency and effectiveness of our functional departments. The last guiding principle that shapes our focus to serve clients better is the art of liberation. We are cognizant of the personal lives of our employees and want them to strike a perfect balance between the professional and personal domains of their existence. We have employees-friendly working policies and offer them sufficient avenues to explore the world, empower their creativities, and live life to its fullest.

What is your biggest USP that differentiates the company from competitors?

The unique selling proposition of our QR-code solutions is their multi-purpose benefits. Along with ensuring the authenticity of products, Genefied offers a one-stop solution for tracing the authenticity, warranty, loyalty, and supply chain of products and services across product categories and service domains. The multiple layers of authenticity offered by Genefied's unique QR codes are one-of-its-kind in the industry and help companies to effectively maintain customer loyalty and manage Digital warranties.

What changes is Genefied bringing to the industry?

By harnessing the new-age technology, Genefied has come up with novel solutions that are helping brands scale up across the categories they operate in. Solutions offered by the company are helping its clients to maintain customer loyalty and make significant improvements in their disrupted supply chain networks. Genefied has a wide client base operating in FMCG, appliances, kitchenware, plywood and home equipment. Besides, the firm’s new-age solutions are also finding favour among companies operating in the domains of solar energy, electronics and fertilisers among others.

What does your technology and business roadmap look like for the rest of the year?

We have an ambitious plan to power our growth story internationally and to that end, we are working at a frantic pace to make our existing product portfolio more comprehensive and robust. We are also in the process of establishing our offices and touchpoints overseas so that our foreign clients can benefit from reliable and dependable services irrespective of their geographic locations. The growth prospects in the loyalty management, anti-counterfeiting solution and supply chain visibility are enormous and we are very confident that Genefied will become the leading service provider in all the categories it offers solutions to customers.

 Tell us about the major challenges the company has faced till now.

 We received an unprecedented response from our customers right from the very outset of our business operations. We have now successfully built on that momentum even as we continue to face our fair share of challenges. For example, enterprises today have become extremely focussed on return on investment (ROI) while end consumers are demanding more services and facilities while using brands’ offerings. In order to meet all these challenges effectively, we have started putting more focus on customer orientation and delivering elevated service experiences. We are firm believers in the power of compounding and by making little changes every day, the company is transforming into a more agile, nimble, and market-oriented firm. In this transformation process, we are specifically putting the focus on building, developing, and nurturing our team members as happy internal customers are the key to sustained profitability and market growth.

What is your success mantra, share a few insights with us.

I firmly believe in the power of affirmation and visualisation to garner greater success in life. Before starting work to achieve targets, I visualise goals in my mind and then focus my entire energy to achieve those objectives. I am fond of reading books and have learnt a lot from literature to hone my capabilities and stay stable even in the face of adverse circumstances. I attach importance to both listening and communication skills and can attribute my success to the ability to speak and connect with audiences extempore. In addition, I practice humility and gratefulness for the things that I have achieved in my life.