RAMSUN NETWORK: DELIVERING A SUSTAINABLE FUTURE FOR MSMES VIA ROBUST SUPPLY CHAIN FINANCE SOLUTIONS
ICONIC BRANDS OF THE YEAR 2023
In this new digital world, where MSMEs contribute to 31% of India’s overall GDP, yet are held back by limited offerings of appropriate credit services by financial institutions. The splurge of digitalization in financing has benefitted MSMEs to leverage technology for better risk management and increase their financial independence. One such emerging leader in refurbishing supply chain financing via its technology-based solutions is RAMSUN Network.
RAMSUN Network facilitates Digital Supply Chain Financing by connecting Corporate Anchors with its pool of Lenders on a fully digital and user-friendly platform. This enables stronger financing to Anchor’s Supply Chain Ecosystem, essentially the SMEs.
Our editorial team had the privilege to have a detailed conversation with Mr. Ramesh Bisht- Co-Founder and CEO of RAMSUN Network. We leveraged the opportunity of having him on board and asked many questions regarding the journey of the company so far. The dignitary shared many lesser-known nuggets about the company and walked us through its organizational processes. With that being said, let’s not wait any further to gather insights about the different facets of Digital Supply Chain Financing via the brand story of RAMSUN Network. To inspire our readers and add value to their knowledge bank we have featured RAMSUN Network under the exclusive segment of “Iconic Brands of the Year 2023”.
The Inception Tale
RAMSUN Network is the brainchild of two friends Mr. Ramesh Bisht- Co-Founder and CEO and Mr. Sunil Kumar- Co-Founder and Managing Director who have extensive experience in the Industry of working closely with Banks/NBFC and Corporates providing tech driven solutions including Bill Discounting Solutions. While Ramesh Bisht has worked in various leadership and strategic roles in his previous stints, Sunil Kumar is a seasoned tech professional specializing in the Banking Sector, having led large-scale global technology rollouts for more than 20+ Indian and International Banks. In their last stint, they were together at CXO positions and played a proactive role in bringing India’s leading TReDS platform. In early 2020, both joined hands to set up RAMSUN to enable SMEs as part of Large Corporate’s Eco System with better financing options using Supply Chain Finance at its core through a user-friendly online platform.
The duo’s first-hand experience of working and interacting with the MSMEs led them to discover the gap between MSMEs and strategic financing services. The company was fueled to fulfill the unmet essentialities of MSMEs in terms of Financing. Although many other financial institutions want to serve them, because of certain limitations and constraints, including limited financials, these institutions aren’t able to finance the MSMEs. With the knowledge of these constraints and conscious efforts to curate a solution to cater to this segment, RAMSUN Network embarked upon this journey.
Surpassing the Pandemic with Perseverance
The journey began amidst the uncertainties of the COVID-19 pandemic. Soon after its inception, the world was under lockdown. This led to a lot of breakdowns as finding people, the right talent, and customers became profoundly challenging during that period.
However, RAMSUN took that period as an opportunity. While working from home, the team could have full focus to build a world-class, bank-grade scalable and secure system, completely in-house and from scratch, while taking inputs from various domestic and international domain and technology experts. This led RAMSUN Network to have a fully flexible system, completely under its control, through which the team caters to the varying requirements of different Corporate Customers and Financing Institutions.
Building an Irrefutable Rapport Driven by Values
Mr. Ramesh Bisht asserts that “It does not take a great product, or your business scale to build trust. It is the combination of core values, subject knowledge, and customer service, which lead to the trust value for a business.”
While RAMSUN Network is on the mission to have one of the greatest products, customer orientation has been ingrained as one of its key values and reiterated to the associated people from time to time. The team serves the customer and ensures that the business of the customer continues to get served, even in case of any adverse scenarios at the customer’s end or their end. As a testament to customers’ ardent faith in RAMSUN’s services, the significant amount of its business comes through referrals from existing customers. At RAMSUN Network, the primary focus is laid on customer requirements.
“Customer delight is something we all at RAMSUN Network aim for. This is a continuous journey and we wish to establish RAMSUN Network as a brand of Efficiency and Customer Trust in the Fintech Industry. We always remain sensitive about our commitment to our customers and try to meet or exceed the same. Our products/technology solutions are developed keeping the customer requirement at the center. Today we are serving more than 20 Lenders and many Corporates & their Value Chain SMEs across various Industries and different parts of the Country”, says the Co-Founder and CEO.
A Commendable Growth Model
The founders of RAMSUN Network had faith in building the company with a conservative but sustainable business model. The company is picking up its pace, by achieving profitability at a certain level of operation and then making further investments for the next level of growth.
- The company runs a Marketplace, where customers are first acquired and are further provided with Supply Chain Finance lines from its registered Lenders. All financing activities, starting from Invoice presentment, approvals, disbursement, and repayments happen online through RAMSUN’s platform.
- Also, the company offers a slightly modified version of the platform than what they use in the marketplace environment. The platform used here is a White-labeled SaaS platform for Banks and NBFCs. These Banks and NBFCs leverage the platform to serve their customers. This platform provides modules like Loan Origination System, Loan Management System, and Co-Lending middleware.
The company is steadfastly working towards expanding the Deep Tier Layer for the Corporates to provide them insights into their deep value chain. We believe this will create a lot of value for corporates. The team is expecting a 5x-6x growth in the volumes and revenue during the current FY over last year. They intend to establish RAMSUN Network as one of the prominent Fintech partners for Corporates and Lenders in the coming years. Efforts to keep technology at the center to provide efficient solutions are already in the pipeline. RAMSUN Network is also manifesting to expand its horizons across global boundaries.
To wrap up the read for today, we asked Mr. Ramesh Bisht to quote some words of wisdom to inspire our global readership. The luminary shared, “We should have a sustainable model keeping clients at the center and keep on learning new things. We are learning a lot from our customers and Industry and trying to improve our offerings to create value for our customers.”