Lymbyc Solutions simplifies complex decision-making for its clients with the help of Leni, the world’s first virtual analyst. Satyakam Mohanty, CEO, Lymbyc Solutions, speaks about their focus on building long-term strategic alliance with channel partners who have a global presence
Headquartered in Bangalore, Lymbyc serves clients in India, the US, Singapore and the Middle East, including sectors like pharma, CPG & retail, e-commerce and consumer technology. The company was formed in 2012 as Ma Foi Analytics with the idea of infusing cutting edge technology into insight generation. “Our vision was to empower the business leader with insights at the point of decision making, and in real-time, as opposed to the existing processes which run into weeks and months,” says CEO, Lymbyc Solutions, adding that taking inspiration from J.A.R.V.I.S. of Ironman, they built a world class analytics product that can crunch massive data into insights by leveraging Artificial Intelligence framework on a Big Data layer. The result, Leni, the world’s first virtual analyst, was born.
With the launch of Leni, in November 2017, Ma Foi was rebranded as Lymbyc. Leni, provides complex business insights just like a real world analyst does. Leni can be trained/configured to respond to questions across the entire insight spectrum – exploratory/descriptive, diagnostic, and predictive. “It provides business users market intelligence 24/7, while solving for data variety, business ambiguity and analytics complexity,” he comments. The product has been deployed across various sectors largely in sales, marketing, and commercial functions. “Businesses are now keen on exploring Leni in newer functional areas as well,” affirms Mohanty.
Reminding that the key target verticals include pharma and healthcare, CPG and retail, e-commerce, and consumer technology, Mohanty points out that Leni uses the raw data available from various sources, including the internal databases of the client company, as well as external proprietary and public data, and analyses it to provide answers and insights to various questions posed by the user. Leni can be customised for industry specific use cases and can be deployed in short order. “By combining both predictive and prescriptive functions, Leni helps organisations in brand tracks, pricing, competitive intelligence, business intelligence, etc. This will not only increase the efficiency of an individual in doing specific tasks but also the productivity of the organisation,” he informs.
Channel partner strategy
The company has a focused channel marketing strategy. “Our key strategic objectives are aligned to expand our customer reach both in terms of sectoral and functional domains, which entails the following areas: Data providers who offer data as a service, Analytics / Business Consulting providers and System Integrators,” says Mohanty, adding that their strategy towards these channel partners are either to create a value extension to what they’re already providing (e.g. in case of data as a service providers), or to enhance their competitive differentiation by integrating our solution with their services and platforms (in case of system integrators).
Based on the uniqueness of the channel partners’ business models, Lymbyc will largely have its partners act as a reseller. “Or we act as an OEM provider while the partner acts as an SI. Since we are targeting larger, more complex, global entities, market access becomes challenging as 9 out of 10 of these organisations are sitting out of India. So to create a strong channel partner strategy, there is a need to target partners with a global presence,” informs Mohanty, adding that irrespective of how the functional relationship crystallizes with their channel partners, the key strategic aim is to build a long-term alliance rather than a short-lived transaction.
As an enterprise tech start-up, Lymbyc has identified channel partnership as an essential component of the business model for tech startups in the enterprise space. According to Mohanty these have been their learnings:
First, such partnerships help in increasing market access, by taking advantage of existing customer relationships of the channel partner, and leveraging their sales resources to target new clients
Second, mature partners, through their domain expertise and the range of problems they solve every day, help start-ups fine tune their products so they work better in real world scenarios.
“To fully realise the value of these opportunities, startups can work with like-minded larger businesses, particularly those that share commonalities and target markets. Once they have identified potential partners, they should clearly articulate mutual goals, joint value proposition and joint marketing plan that would help them in building long-term loyalty and trust,” he states.
For Mohanty, the current focus is on partners with a global presence, based out of US and India, where the larger strategy has been to take its solution from India to the world. The company is also looking at other regions, including UK and South East Asia. “In addition to taking our solution from India to the world, we also want to partner with organisations that can help in extending the reach of our solution within India,” says Mohanty, pointing out that for data providers, association with Leni creates a seamless extension for their end user to consume their end product, which is data, in a better and richer way. For System Integrators, it enhances their competitive differentiation by giving them a cutting edge flavour to their existing products. In terms of services, it helps reinforce their thought leadership image while also creating opportunities for productivity enhancement.
Regarding Leni, in the future, he informs that on the core product, the technology and algorithmic R&D will look to achieve two things – the first around continuously creating deeper feature set, and the second on enhancing user experience. “For instance, we are working on introducing voice enablement and a human persona to Leni to make it more user-friendly. Simultaneously we are also working towards making the technology more autonomous, to a point where our partners and possibly even our clients can do their own UI driven builds. We want Leni to be a preferred companion for every business and help them in their decision making and productivity,” discloses Mohanty.
Lymbyc has already filed two patents for its technology and third one is in the process. The team is also working on making insights more accessible to the clients through creation of a mobile application format for Leni, which will include voice based querying.
Link to Partner Signup page: https://www.lymbyc.com/become-a-partner