Iris Computers, a well-established company in the business of IT Distribution, which helps to connect with technology hardware solutions related to the entire field of Information Technology, had also been hit by the hazards of the pandemic.
However, the company has been able to combat the situation by diversifying into different product segments keeping in mind the priority and needs of customers in the complex environment.
In a conversation with NCN, Mr. Sanjiv Krishen- Chairman Iris Computers, illustrates how the company has taken manifold steps, diversified into various other businesses to sustain growth & embrace an agile operating model amidst the challenging times.
Strategy adopted for tackling the challenges faced during pandemic
When the Covid-19 hit the entire world in March 2020 and there was ban on movement of goods worldwide, all the businesses were hit badly. Iris Computers had also taken a dip in the turnover due to decrease in sale. However, in April, when the business picked up they fell back to 100 crore turnover a month.
In the wake of crisis, Iris Computers functions have increasingly moved from being reactive to proactive and predictive allowing for improving operational productivity and better customer satisfaction.
Iris Computers took it as a challenge and had undertaken a strategy to diversify into medical segment. During the crisis, the company identified the growth opportunity in medical products keeping the health conditions of the entire world in mind. The company found that there is a great demand for PPE kits, oxygen concentrators, X-ray machines, ventilators, so the company made an active effort to diversify the products so that it can sustain in market and gain profit.
Mr. Sanjiv Krishnen- Chairman, Iris Computers, said, “We wanted to diversify our business where there are growth options. We found that there is a great demand for PPE kits, oxygen concentrators, X-ray machines, ventilators, so we made an active effort to diversify the products so that we can gain profit. We are now doing better, and our turnover has reached to 10 crores in PPE kits and another 5 crores in the other diversified businesses. We feel happy that we have been able to combat the situation. “
Identified New Business Opportunities
WFH has become the reality nowadays. Due to this most of the people need laptop so there is worldwide shortage of laptops. It takes about 3-4 months to get a laptop and the best substitute is the tablet.
Hence the company had identified these opportunities and encashed them in order to sail through this critical period as well as maintain innovation during these crisis conditions. There is a huge opportunity in MDM (Mobile device Management) which enables the Institute to manipulate the area and restrictions can be imposed. MDM is software that allows IT administrators to control, secure and enforces policies on smartphones, tablets, and other endpoints. The intent of MDM is to optimize the functionality and security of mobile devices within the enterprise while simultaneously protecting the corporate network.
Like if a student uses a tablet where the tablet cannot go out of the restricted area which indicates that the tablet has gone beyond restricted area. Also, one can restrict the usage of the tablet and enable only for the curriculum. So many if the management controls devices which have gained popularity. that makes it more secure from education point of view also.
Mr. Krishen says, “We set a tab lab in Narayana Group in Hyderabad. There has been an exponential growth in the tablets due to its portability, cheap, less electricity consuming. “
New demand trends
In the efforts to keep the workforce safe, enterprises have rapidly adapted to remote working as the new normal, with companies currently running almost all functions, including mission-critical ones remotely. With schools and universities closed due to the pandemic, it has become a norm for educational institutions to include digital tools to impart educational content remotely.
As a result if this trend the demand of laptops has increased due to the pandemic. So, opportunity is there but there is lack of delivery which is a constraint. Innovation is only constant, and one should keep on looking for opportunities like tapping areas where there is more demand like healthcare.
IRIS Computers has emerged as the most trusted IT distributor in India with years of strong partnership with leading OEMs like Dell, HP, LG, APC Schneider, and Acer.
Technological innovations likely to disrupt the market
Technology is the backbone for any nation and in digital India technology is particularly important. The companies are taking accurate methods and systems in place to collaborate and refine solutions to get ahead of the curve by embracing evolving market trends and reprioritisations.
Technologically the demands have been huge, so the new chips are coming up and products are faster. Products will become cheaper its just because there is a problem in supply chain so its high priced now. Slowly there will be foldable laptops which are coming into picture which is easy to use.
Talking about the technological innovations & the demand trends, Mr. Krishen says, “We have got more orders from Dell than HP. The company has emerged as the most trusted IT distributor in India with years of strong partnership with leading OEMs like Dell, HP, LG, APC Schneider, and Acer. Slowly there will be foldable laptops which are coming into picture which are easy to use. We should be tapping areas where there is more demand like healthcare. “
Radical changes observed in distribution during the pandemic
Due to the lockdown, tight port restrictions are a hassle for ocean freight, and the logistics of transporting units from ports to warehouses, stores. Hence there is a disruption in the supply chain of laptops and chrome books. Hence the end consumer is unable to receive laptops. However, once the supply gets normal, the distribution of laptops, chrome books and tablets would come back to what it was earlier.
Distribution is going to be many, and it is going to stay as order sizes are becoming bigger. ODMs are getting bigger and bigger. The opportunities are many and one needs to tap them.
Commenting on the changes, he says, “That is how companies like us have a huge role to play since the demand is huge. All that we need to do is tap the opportunity at the right time. “
The global tablets market is expected to grow from $61.63 billion in 2020 to $69.9 billion in 2021 at a compound annual growth rate (CAGR) of 13.4%. The growth is mainly due to remote working and the closure of commercial operations and impact of social distancing. Hence the company would like to explore the tablet area as it is the product of the future.
Keeping the health of the people in mind, it’s evident that the medical products will also grow, hence they have already set up a healthcare division, and they would like to reaffirm their position in the market.
Message for partners
For partners there are a lot of opportunities in challenging times like Covid also. Everyone needs to stay calm and keep at pace with the world.
And most importantly we should not lose hope. WWE should be able to take up challenges in an effective manner and work towards creating them into opportunities and lead the way ahead.
While concluding Mr. Krishen says, “We would like to explore the tablet area as it is the products of the future. Medical products will also grow so we have step up a healthcare division. For partners, I would like to say that there are a lot of opportunities in challenging times like Covid also. But let us not lose hope”.