1. Given that you are just 23 years old, how did you come up with the idea for Petonic Infotech?
We started our career in scientific research, technical innovation, and business consultancy at a very young age. We began working on research projects like purifiers made from bajra and pumpkin. We were able to employ research-related scholarships, fellowships, and awards as a source of money, which we then used to the establishment of Petonic Infotech, a mid-sized consultancy services company, in 2017.
2. What is Petonic's unique selling point, and what is your vision for it? as well as any expansion plans.
We aim to fix issues before asking clients for significant upfront payments without delivering results. Our company strategy is outcome-based; therefore, we'll still be profitable. When it comes to projects, the business and operational model of the organisation puts it in rivalry with the Big Four consulting and accounting companies. The goal is to get Petonic Infotech to a point where it is on par with the major consulting companies, based on the company's existing growth trend. This year, we also moved to the United States, and we also want to be the first consulting company to give advisory services using technologies like artificial intelligence, machine learning, etc.
3. What difficulties have you encountered so far in this, and how have you overcome them? And what is your business mantra?
So far, the journey has been pleasant, with the standard ups and downs of any business. According to Source Worldwide Research, the COVID-19 virus might cut the global consulting business by 19%, from $160 billion in 2019 to $130 billion in 2020. COVID-19 is putting the brakes on the global economy. For many countries, the extent of economic pain—whether a recession or a depression—is an issue of magnitude. And the worldwide consulting business, like most others, is unlikely to be spared a slowdown as a result of the pandemic's massive effect. Petonic faced challenges such as a declining private sector market and a lack of access to the necessary skill pool to solve problems. And for our company's mantra, I'd suggest "stay updated." In this digital era, staying updated is crucial.
4. What are your thoughts on the recession as many analysts believe that the world will experience a recession in the next few years?
For many countries, the extent of economic pain—whether a recession or a depression—is an issue of degree. And the global consulting business, like most others, is unlikely to be spared from the pandemic's massive impact. We at Petonic encountered challenges such as a declining private sector market and a lack of access to the necessary skill pool to solve difficulties.
5. With what sorts of clients do you have ties, and are there any specific sectors?
When Petonic Infotech first started out, it offered consulting services to businesses of all sizes operating in industries including technology, finance, agricultural, manufacturing, F&B, healthcare, and government. All businesses or areas that include or require consulting services are catered to by Petonic InfoTech. Services including auditing, dealing, advising, technical staffing, planning, R&D, and transformation are all possible. The industries might range from the corporate sector to the financial sector and from government PSUs to IT. There are no boundaries to the consulting market. Instead than pressuring clients to hand over large sums of money without delivering outcomes, we seek to solve problems. Our success will continue to be built on our outcome-driven business approach. Our present project pipeline suggests that we can increase our income by a factor of four this year.
6. How has your family helped you both along the way?
We hail from a modest background, and our parents are typical middle-class parents. They always did what they considered was best for us. We have had a lifetime love of cricket and used to spend hours playing it. Our parents, on the other hand, urged us to give up the sport in order to focus on our academics and eventually obtain a secure career. And they have been a wonderful mentor to us, and everything we have accomplished today owes a lot to our parents as well.