Fulcrum Digital sees blue ocean of opportunities in the Indian market
A diversified IT company, Fulcrum Digital caters to diverse industries ranging from BFSI, e-commerce, retail to education and F&B. While every firm is accelerating digital initiatives, Fulcrum Digital has tried to do things a little differently with its ‘managed innovation’ model.
Explains Rajesh Sinha, Chairman and founder, Fulcrum Digital, “We have created a specialised platform called ‘FulcrumOne’ in order to give solutions in a more efficient manner. One of the primary characteristics of this loosely linked, interoperable platform is our services-first vs applications-first mentality – similar to Lego pieces (services) that can be flexibly rearranged to fulfill varied demands.” Rajesh Sinha says that the platform’s openness and composite nature make it suitable for the external-facing capabilities that new digital business processes, moments, and models demand.
Within each sector, the company has smartly decided to create common niche platforms. Explains Rajesh Sinha, “The difference between our platform and others is that we map the business domain with the platform. That makes us unique in the market.”
At its core, FulcrumOne is a low-code platform comprised of over 130 cross-industry and industry-specific components and API’s that are ready to be deployed instantly. The industry specific expertise gives Fulcrum Digital a huge competitive advantage. The company has smartly picked its unique niche spaces within specific domains. For example, in a large sector like Fintech, it has focused on payments. Similarly, in the insurance sector, it has focused on property and casualty insurance, and within this space, it has focused on claims management and policy management. In totality, the focus areas include: Financial Services, Insurance, E-Commerce, Higher Education, Food Services, Logistics, Manufacturing and Retail.
This strategy has paid rich dividends. The company is clocking a growth of 35 to 40% year on year. The company also has a SaaS product which it has separated as a separate division now. This caters to the food services or food distribution space, which could include customers from food contractors, cafeteria owners, school districts to health care organizations. Rajesh Sinha believes that this platform has huge potential. Says he, “If you look at the 1.3 billion population in India, the potential of this platform can be huge. This platform has the capability to map the nutritional component of the foods and giving it to all class of people in the Indian market. So in the beginning, we are targeting the middle income group which is about 300 to 400 million population in India and expand gradually. The idea is to have a digital platform that can explain to the customer the nutritional value of the food he or she is eating. Allergen related data can also be mapped to this data, so that every person can take an accurate decision with respect to the food consumed. Right now, there is no enterprise company which does this – and this can turn out to be a huge billion dollar market.”
Fulcrum Digital sees huge potential in India, as more and more customers look at accelerating their digital initiatives. Says Rajesh Sinha, “We are building accelerated industry accelerators, which will go as a service offering. Our clients save on average 30% on cost and get to market 1.5x faster by utilizing our interoperable components and removing the trial and error in developing components from scratch.”