Interview Times 
Prisita Das
Please share the story of the inception of your startup. What convinced you to go ahead with the idea? Please give us a little background of the founder.
The inspiration behind starting TreadBinary arose during our time at a prominent multinational company where we worked as consultants. Despite being presented with numerous opportunities to develop innovative technologies, we encountered resistance to pursuing such endeavors.
This experience fueled our determination to prove that Indians are equally capable of innovation and developing cutting-edge technologies. We started taking on multinational ERP consulting projects at TreadBinary to generate revenue while working on our product ideas in parallel. Our founding vision was to bring India to the global map in research and innovation in the technology and consulting industry, creating a platform for us to “Invent. Innovate. Inspire.”
Please share some of the challenges you have faced in your journey so far. How did you overcome these challenges? Please share strategies.
Like most startups, we faced challenges in attracting and retaining top engineering talent willing to dive into our high-risk, unproven venture. The dearth of skilled workforce severely constrained our ability to scale up development capacities quickly. With no established brand reputation, we had to work doubly hard to get decision-makers to trust our capabilities and give us a chance to prove our innovative solutions.
To overcome these hurdles, we strategically pivoted our model. We started taking on multinational enterprise consulting projects in our domain of expertise, like ERP implementations. This parallel revenue stream provided us with financial runways to sustain operations while earmarking dedicated time for product R&D using the funds raised.
How do you see your competitors, and what differentiates you from them?
When you are running a business, you always face competition. However, we believe our unique combination of deep domain expertise across industries and cutting-edge technological proficiency sets us apart. Unlike many of our competitors, who tend to be either pure-play technology firms or traditional management consultants, we pride ourselves on our holistic approach. We don’t just offer technology solutions or process recommendations in silos. Instead, we deeply immerse ourselves in understanding the core business challenges and fundamental issues that our clients face within their specific industries.
With this comprehensive grasp of the intricate nuances and pain points, we then leverage the latest technologies to craft tailored solutions that cater to a diverse range of sectors. Our solutions are not just tech for tech’s sake but are firmly rooted in enhancing operational efficiencies and unlocking new growth opportunities.
Another key differentiator is our team’s profound knowledge of both global best practices as well as localized business processes across India and international markets. We bridge this gap seamlessly, enabling our clients to benchmark their operations against world-class standards while accounting for regional nuances. This glocal perspective is invaluable for companies looking to expand their footprints.
Moreover, our flexible business models focused on delivery excellence and client representation set us apart. Whether it’s time and material engagements, fixed-bid projects, or vendor governance – we prioritize transparency, accountability, and committed project ownership, unlike transactional resource providers.
Please share with us your key milestones since the inception of TreadBinary. Please share examples.
Since our inception in 2020, TreadBinary has achieved several significant milestones that have propelled our growth trajectory. A major leap was the formation of our subsidiary, TreadBinary INC, in the USA, marking our foray into international markets and enhancing our service delivery capabilities for customers in the Americas region. Another notable milestone was our strategic partnership with NariQ, a leading Swedish IT solutions company, which strengthened our foothold in the European market, allowing us to offer tailored products to European customers.
Our accomplishments were further bolstered when TreadBinary Technologies Pvt Ltd was honored with the prestigious Indian Achievers Award, a testament to the relentless dedication and innovation of our team. Additionally, we embarked on a trailblazing initiative by uniting forces with ISAMRA (Indian Singers’ and Musicians’ Rights Association) to redefine royalty standards in the music industry. Leveraging our IT expertise, this collaboration promises groundbreaking solutions that reshape industry dynamics.
Please share with us what challenges you have solved or are aiming to solve, sector agnostic. (Please help us understand at the enterprise and ground-level).
At TreadBinary, we take a sector-agnostic approach to solving critical operational and business challenges that enterprises face across various industries. Our unique combination of deep industry expertise and cutting-edge technological capabilities allows us to tackle issues holistically. At the enterprise level, we have developed innovative solutions to address process inefficiencies, optimize resource utilization, streamline supply chain complexities, and enable data-driven decision-making. Our applications have helped companies achieve remarkable outcomes, such as an 80-85% reduction in material scrap in the cutting industry and enhanced productivity and profitability through our digitally optimized supply chain planning solution.
Beyond process optimization, we have also solved challenges related to governance, monitoring, control, and capacity utilization through our Industry 4.0 and process automation offerings. Our ERP consulting services have empowered enterprises to implement complex, multi-million-dollar projects seamlessly. At the ground level, we aim to revolutionize day-to-day operations and workflows. For instance, our collaboration with ISAMRA is focused on redefining royalty standards in the music industry through innovative technology solutions that bring transparency and efficiency.
Irrespective of the sector, our commitment to research and solutions ensures that we stay ahead of the curve, conceptualizing and developing cutting-edge technologies that address emerging challenges. We guide clients through stages like pre-validation, market search, pre-project, and project delivery, ensuring tailored, future-proof solutions. Our goal is to understand the intricate nuances and pain points our clients face and leverage technologies like AI, machine learning, IoT, and automation to craft holistic solutions that drive tangible business impact, enhance operational efficiencies, unlock new growth opportunities, and inspire innovation.
What are the future prospects for TreadBinary?
TreadBinary’s future prospects are incredibly promising, with the company setting its sights on achieving ambitious goals. One of the major milestones on the horizon is an initial public offering (IPO) in future.
One clear prospect lies in international expansion. Having already established a presence in the USA through its subsidiary TreadBinary Inc. and forged partnerships in Sweden and Germany, the company can leverage these global connections to further penetrate international markets. The document mentions plans to establish additional offices in regions like Vietnam, the Philippines, or Malaysia, indicating a strategic focus on tapping into the talent pool and market opportunities in Southeast Asia.
Additionally, TreadBinary aims to strengthen its domestic presence within India. The company is aggressively working on expanding its business footprint in the country, with plans to set up offices in cities like Hyderabad, Bengaluru, and Pune.
Furthermore, the company’s strong network, including connections with CEOs, COOs, CTOs, and CIOs of various companies, presents opportunities for collaboration, partnerships, and new business ventures. Leveraging these industry connections could open doors to exciting projects and growth avenues.
What are the company’s forward-thinking strategies and the driving forces behind its impressive trajectory in the rapidly evolving technology landscape?
TreadBinary’s forward-thinking strategies and the driving forces behind its impressive trajectory in the rapidly evolving technology landscape stem from its unwavering commitment to innovation and its vision to “Invent. Innovate. Inspire.” The company’s focus on emerging technologies like AI, machine learning, augmented reality, IoT, digitalization, and automation ensures its solutions remain future-proof and relevant. Moreover, TreadBinary’s unique approach of combining deep industry expertise with advanced technological capabilities allows it to offer holistic solutions tailored to specific industry challenges, driving tangible impact and operational efficiencies for clients. This strategic approach, coupled with flexible business models and a commitment to research and solutions, demonstrates TreadBinary’s agility and forward-thinking approach to problem-solving.
A significant driving force is TreadBinary’s global expansion strategy, with a presence in the USA, partnerships in Europe, and plans to establish offices in Southeast Asia. This global footprint enhances the company’s reach, facilitates knowledge exchange across diverse markets, and positions it to tap into international talent and opportunities. Furthermore, TreadBinary’s entrepreneurial spirit and relentless problem-solving mindset, instilled by its founders, permeate the company’s culture, fostering a hunger for innovation and a drive to push boundaries. By combining cutting-edge technology, industry expertise, agility, global reach, and an entrepreneurial spirit, TreadBinary has crafted a forward-thinking strategy that propels its impressive trajectory, solidifying its position as a formidable player in the rapidly evolving technology landscape.
How do you see technology evolving in India, especially in Tier 2 and Tier 3 cities?
Technology is rapidly permeating into Tier 2 and Tier 3 cities in India, driven by increasing internet penetration, affordable smartphones, and digital literacy initiatives. These smaller cities are witnessing a surge in e-commerce adoption, digital payments, and online education platforms, bridging the gap in access to services and opportunities. Smart city projects are also transforming urban infrastructure, leveraging technologies like intelligent traffic management and automated waste disposal.
The growth of technology in Tier 2 and Tier 3 cities is fostering entrepreneurship and innovation, with local startups developing solutions tailored to the needs of their communities. Moreover, the adoption of telemedicine, e-governance, and skill development programs is empowering citizens, improving healthcare accessibility, and equipping the workforce with relevant digital skills. While challenges remain, collaborative efforts between stakeholders are crucial in ensuring an inclusive and sustainable digital transformation, unlocking economic growth, and enhancing the quality of life for residents in these cities.
What are the emerging trends in your sector, and what do you foresee in the near future?
The technology and consulting sector is being driven by emerging trends like AI, machine learning, and ERP solutions. AI and machine learning are enabling predictive analytics, intelligent automation, and data-driven decision-making across industries. The global market for artificial intelligence (AI) was estimated to be worth USD 515.31 billion in 2023. It is expected to increase from USD 621.19 billion in 2024 to an impressive USD 2,740.46 billion by 2032.
ERP systems are evolving to incorporate AI/ML capabilities, providing intelligent forecasting, supply chain optimization, and process automation. The ERP market size is expected to grow from USD 81.15 billion in 2024 to USD 238.79 billion by 2032.
In the near future, we will see increased adoption of these technologies for digital transformation, streamlining operations, and gaining competitive advantages. Consulting firms will play a crucial role in guiding businesses through this technological shift, offering expertise in implementation, integration, and leveraging these powerful tools effectively.
How do you see the growth of the company in this evolving landscape?
TreadBinary appears well-positioned to capitalize on the evolving technology trends and drive substantial growth in the coming years. The company’s focus on emerging technologies like AI, machine learning, augmented reality, IoT, digitalization, and automation aligns with the current industry demands. By integrating these cutting-edge technologies into their solutions, the company can offer innovative and forward-thinking services to their clients across various sectors.
Additionally, TreadBinary’s commitment to bridging the gap between global industry standards and localized practices, combined with an in-depth understanding of business processes across various sectors, positions the company as a valuable partner for companies seeking to streamline operations and enhance internal processes. This unique value proposition can drive growth by attracting clients seeking comprehensive and tailored solutions.
In what ways does TreadBinary customize its features to suit specific industries since they cater to different sectors?
At TreadBinary, we take great pride in our ability to customize our features and solutions to suit the specific needs of different industries and sectors we cater to. Our approach goes beyond merely offering technology-centric solutions; instead, we combine an in-depth understanding of the fundamental issues and intricacies of each industry with appropriate cutting-edge technologies to provide tailored solutions.
One way we achieve this customization is through the development of industry-specific applications. For instance, our “beaverztech-hac” application is designed specifically for the cutting industry, offering an innovative solution to address the fundamental challenges faced by players in that sector. Another example of our industry-specific customization is our “digitally optimized supply chain planning – doSCP” application, which streamlines supply chain operations by addressing the unique supply chain management issues faced by companies in the logistics and distribution sectors.
Furthermore, our expertise in providing ERP consulting services allows us to tailor our implementation approaches to align with the distinct operational requirements of each client’s industry. We leverage our technical capabilities combined with a deep understanding of business processes across various industries to ensure that our ERP implementations are tailored to meet the specific needs of each client’s sector.
