Interaction - Neena Vats, VP, Iris Global

Can you share with us your journey within Iris Group and your current role?

My journey with Iris Group has been profound, it's running for 18 rewarding years.

Having started as a young Product Executive back at Iris Computers in 2005, over time I progressed through various roles - from an Assistant Product Manager to Product Manager and Group Business Manager.

I have been handling products of leading brands such as HP, Lenovo, IBM, and others. After a brief tenure at Fujitsu, I rejoined Iris Global Services in April 2016 as Vice President-VAD. In this role, I led the initiative to establish a new vertical focused on solution products across all sectors.

It's been an incredible journey witnessing the growth of this vertical from inception to its current stature, achieving a remarkable milestone of Rs 417 crore in seven years. 

Our vertical boasts an extensive portfolio comprising over 20+ product lines spanning - Networking, Network Security, Cyber Security, CCTV Surveillance, Smart Education, Power Solutions, Tablets, and PCs.

Many of these products are 'Made in India' which reflects the company’s commitment to support local innovation and foster budding entrepreneurs.

How has this segment grown in the last 1 year?

Over the last year, this vertical has experienced a remarkable 100% growth. With the Government segment being a key contributor to its success, we've been instrumental in structuring and executing large Government projects while demonstrating expertise in managing end-to-end projects and aligning partners
with the right financial institutions to facilitate smooth deal executions.

What are the new techs emerging in this segment?

In the current landscape, we're observing substantial investments in Digital Transformation across key sectors including Governance, Education, Finance, and Healthcare.

Significant funds are allocated to areas like Government Education, BFSIs, Defence, Airports, Smart Cities and Railways. These investments will change the game, drive innovation, upscale efficiencies, and ensure stronger security across sectors.

What are the challenges in this business and how do you strategize to tackle them?

In the realm of IT distribution, the key challenge we face is managing risks associated with payment collection, especially while we are striving to expand revenue streams. Distributors often find themselves acting as funding banks with minimal documentation, which poses a considerable risk.

To tackle these challenges, our strategy revolves around conducting thorough due diligence on each order.
This entails assessing the scope of work from the end customer, scrutinizing payment terms, and ensuring that our partners are adequately prepared to execute the project.

So far, this approach has proven effective in navigating our complex ecosystem.

What are your predictions for the next five years in technology solutions?

The coming five years hold immense potential for transformative advancements in India's technology landscape.

Key trends such as Digital Transformation across sectors, widespread adoption of AI and Machine Learning, Fintech Innovation, Smart Cities Development, Cyber Security prioritization, Health Tech Revolution, Renewable Energy Integration, and Evolution in Education Technology are poised to reshape the way we live – work – interact.

These innovations will drive progress across various sectors, contributing to economic growth and social development.

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