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Growth Chronicle

Seshaasai: Adapting Through Eras

Throughout our journey, we have adjusted remarkably to the external world. Be it technological, cultural or natural changes, Seshaasai has tweaked its offerings, added new ones and remained relevant. Importantly, we have helped our clients adapt and thrive - taking advantage of these upheavals rather than be stymied by them.

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2024

India's growth story begins

The landscape
The early 90s would see a fundamental shift in the Indian economy. Born out of a crisis, the liberalisation reforms would enable sectors synonymous with our country today - the IT industry, private banking, not to mention a plethora of options for consumers. It was, however, not all rosy. The era also saw the dotcom bubble which tempered cyber-optimism, and the 9/11 attacks would throw the world into uncertainty.
Our insight
Sensing digitisation was the way ahead, Seshaasai ventured from printing computer stationery, into technology and data-driven banking solutions. It would be a pivot that would change our company and, dare we say, the entire Indian BFSI industry at a functional level.
Our strategy
We invested heavily in data-driven production, laser printing and developed our own software capabilities.

The result

Expanded offerings for banks that allowed them to offer quicker, faster, more efficient service to their customers. This would include:

  • PIN mailer
  • Secure stationery
  • Corporate cheques
  • FDR
  • Personalised cheque books
  • CMS cheques
  • Personalised statements
  • Account opening forms

Many of these were done in India for the first time, cutting down lead times from weeks to a matter of days and eventually, hours.

The Result

The proliferation of BFSI

The landscape
The country reaped the benefit of its own liberalisation and the global digital economy. The rise of the ITeS and telecom industries are well-documented. There were financial reforms as well - the insurance regulator would open up insurance, while NBFCs and other financial institutions proliferated. New IT and data security standards were enshrined, while the government launched NPCI which would revolutionise the way Indians dealt with money. Globally, the financial crisis and the Wikileaks scandal would cast a pall over a period otherwise poised upwards.
Our insight
Digital was clearly the future and not a by-the-way anymore. The space would get professionalised soon: From robust customer onboarding, to voluminous (and time-sensitive) secure communications, to focus on governance and compliance. Players in the space needed to move fast as BFSI was penetrating to smaller cities, and cost rationalisation was on everyone's minds.
Our strategy
To provide the backbone for the digitisation of the BFSI industry. We made concentrated efforts and investments towards secure customer communications. We scaled up physical infrastructure to be closer to our customers and offer scale, at speed. We would build out our own services and solutions portfolio.

The result

At the end of this time frame, Seshaasai had evolved profoundly. The outcomes of our strategy included:

  • Decentralisation of infrastructure
  • BPO & LPO offerings
  • Solutions for life insurance & general insurance
  • Large-scale government projects such as the census and Citizen ID card rollouts
  • Colour statements and personalised calendars
The Result

The smartphone revolution

The landscape
It would not be an understatement to say that the portable computer in everyone's hands, along with accessible data prices, revolutionised everything in India. Internet penetration would skyrocket, new business models would emerge, traditional sectors adapted and social media proliferated. New business rules saw the entry of global retail and the make-in-India phenomenon. It was an exciting time, rife with possibilities as India was changing its image on the global stage. On the other hand, the demonetisation of 2016 was an accelerant of digital adoption, especially in payments.
Our insight
The smartphone brought with it new possibilities and then, expectations. Accessibility, the shift towards data, and the need for traceability were all winds we picked up. The big threat for business was that conventional revenue streams could be challenged. The opportunity, of course, was the need for integrated offerings.
Our strategy
It might seem ironic that when the world was going digital, we invested more in physical - we saw the benefit of being closer to customers and provide the infrastructure to power all these changes. We expanded our locations and hubs and deepened investments in higher-entry-barrier businesses. We introspected on our core strengths and explored non-BFSI opportunities.

Additionally, we emphasised a customer communications shift from print to omni-digital.

The result

It was a period of heavy investment for us. We would:

  • Setup a green field card manufacturing with advanced personalisation facilities, and separate card manufacturing units in Mumbai and Bengaluru.
  • Develop welcome kits to provide a more integrated offering.
  • Enhance our existing product portfolio.
  • Build our tracking tool, eTaTrak, which would become the brains of our logistics operations.
The Result

Existential crisis for everyone

The landscape
The latter part of the last decade was as disruptive as they come. Digital, having matured in the country, set new expectations and birthed new business models. Banks had to deal with the paperless / contactless trend, while fending off new competition in the form of SFBs and payment banks. The two big disruptors were new GST compliances that threw corporate documents supply chains into disarray, and of course the pandemic that ended the decade - which threw everything into disarray!
Our insight
We realised that reliable document aggregation and supply for corporates - especially in BFSI - was a growing need.
Additionally, there was a growing market need for traceability - a requirement from companies, customers and regulators.
Our strategy
We recalibrated our business, and were well-placed to do so. We developed a platform and processes for smart fulfilment of documents, solving a huge problem in the market. We enhanced our product portfolio, and we stepped up our investments in R&D.
Finally, given how we had evolved from our roots, we decided the time was apt for a facelift - we went through our first re-branding exercise.

The result

It was a period of heavy investment for us. We would:

  • Focus on the smart fulfilment solution.
  • Developing Ttrackize for traceability.
  • Setting up a dedicated research unit, Seshaasai Labs.
  • Setting up of a dedicated IoT facility.
The Result

Industry 4.0 and Make In India 2.0

The landscape
The new decade brought with it an astonishing amount of change - even without the sceptre of the pandemic! New GenZ/millennial attitudes, the rise of FinTechs, global supply chain diversification to India, the semiconductor crisis, and of course the AI revolution - any of these could be enough to upend businesses on its own. There was increasing awareness of PII, and Digital Product Passports became an expectation. In logistics, the National Logistics Policy were much-discussed.
Our insight
Make In India 2.0 was well and truly here. There was an emphasis on "smarter, quicker, better". The rising Indian middle class meant luxury spending was no longer taboo, indeed, it was the driver for many companies. Finally - with the rise in ecommerce and much more, logistics were still very much in a boom time.
Our strategy
New age tracking and traceability solutions were on the rise around the world. Accordingly, we focused on RFID and IoT. We introduced various payment form factors beyond cards, and rationalised our businesses.

The result

We introduced new kinds of payment solutions to focus on a premium audience - metal cards, biometric cards and wearables. Most importantly, we built out an entire RFID portfolio - from tags, to middleware, to integrated solutions.

The Result
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Seshaasai specialises in using technology to solve business problems. We provide tailor-made solutions for BFSI, retail, manufacturing, supply chain, government, renewable energy and more.

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