CXO of the week: Prashant Lohia- Founder & CEO Ginesys

Ginesys is a complete retail tech suite used by around 1200+ customers and 30,000+ users with a wide reach across India. It has a technology solutions provider for retail businesses and has been powering retail businesses from startup to IPO for more than a decade now.

Prashant Lohia is the Founder and Chief Executive Officer of Ginesys, a cloud-based, complete retail management software suite for all retail businesses.

An industry veteran with 25 years of senior leadership experience, he has successfully founded and spearheaded Ginesys’ footprint and, in his role at the organisation, Prashant drives the formulation and execution of business strategies, priming the business for sustainable growth. Under his vision and leadership, Ginesys has seen consistent growth, evolving into a prominent center of excellence for retail management software.

We recently interacted with Prashant Lohia- Founder & CEO Ginesys. He shared important details about Ginesys, his entrepreneurial journey, the company’s growth, and much more. Read below to know more about it.

Introduction.

Ginesys is a fast-growing complete retail tech suite used by around 1200+ customers and 30,000+ users with a wide reach across India. We are a technology solutions provider for retail businesses and have been powering retail businesses from startup to IPO for more than a decade now. We have made our mark as a premier, ‘Made in India’ solution for ERP and POS and now a complete retail suite.

What are the key management suites offered by Ginesys?

We recently launched Ginesys One, a scalable cloud-based tech suite to power online and Omni-retail. It is a complete retail management suite for D2C brands, omnichannel brands, offline brands, and multi-brand retailers. The whole suite works seamlessly, to ensure a single view of inventory, accounts, customers, orders, and much more. Ginesys One goes beyond integrations to provide omni workflows like buying online and dispatching from any store.

Ginesys works across a wide variety of retail business formats. What are some of the USPs that you are providing to customers today?

Our USP is we are India’s only complete and well-integrated suite for Omni (i.e. offline and online) retail. Our core is a cloud-based ERP that is retail-specific so it does not need to be customized heavily. We have integrated desktop POS, cloud POS, mobile POS software, e-commerce order management system, GST apps, BI, and customer loyalty to work together to cater to the new age retailer’s omnichannel demands. Additionally, the solution enables you to manage your business anywhere as it is completely cloud-based. With a single software, we are also offering a unified support team and single-point account management. This makes the deployment much faster and customers are able to resolve their issues quickly.

What is the demand trend and how are you dealing with modern customer expectations?

Every disruption in technology leads to new demand directions. Nowadays, the major demand trends comprise cloud and business intelligence. For large retail businesses, it is an enormous challenge to regulate the security and data privacy aspects of numerous applications and we are confronting the demand trend through well-integrated, secured, and tested on-cloud solutions. We also provide a set of standard APIs for 3rd party apps to integrate with.

What are some of the new disruptions that are shaping the retail sector today?

Contactless shopping with smart mobile POS software, self-checkout, endless aisle, hyperlocal, and Omni retail integrations are game-changing innovations that retailers can bring in. We are also seeing immense potential in shaping and running the marketing-to-sales funnel as that is an area that has been ignored before the arrival of D2C brands. With this new set of innovations, retailers can challenge global marketplaces with ease. Retailers require to keep up with promptly changing buyer preferences, requirements, and demands, as they directly impact sales, channels, and operational performance.

What are your future plans?

We aim for growth through new customer acquisitions and incremental revenues from the existing base. With the bouquet of products in our portfolio, we aim to keep making the suite experience more well-rounded and seamless through better integrations and unified processes.

How is it working with start-ups on ERP and POS, and what are the subsequent challenges?

Small retailers have simpler requirements from the retail ERP and POS systems.  Mainly they seek smart and efficient billing systems. But as they grow they quickly understand that they need a full-fledged ERP and POS and other products that integrate well with these products and with their online sales channels. It is here that our experience and savviness have helped make a difference. We have powered many retail startups to amazing success with our stable and nimble technologies. Our systems help business owners keep tabs on all aspects of their business and ensure non-stop operations.