“We are basically Result-driven” - On Record

“We are basically Result-driven”

(Corporate Voice: Mr. V. Ravichandar, Chairman & MD, Feedback Business Consulting Services Pvt. Ltd., Bangalore)

Q: At Feedback Consultancy, what kind of customer value do you offer as opposed to other consultancy firms in market research?

A: The key value proposition of Feedback Consultancy is that we bring a difference to the business; we are basically result-driven. We happen to do market research but are not a prisoner to market research techniques per se. We are more driven to get insights about what we measure. We concentrate on creating practicable and actionable ideas for our customers to implement from our results. In the B2B space, there is no other firm like us.

Q: So are there no other competitors in your industry?

A: There are lots of competitors. But we have been handling this business for over 24 years. We have completed about 2000 engagements. We have a track record of companies that we have worked with. Most of the firms we work with are blue-chip companies. The majority of our work comes from repeat business, which is another sign that we are making the right moves.

Q: What percentage of your clientele is International?

A: Our International business comprises about 25%. The rest are Indian firms which are multi-national. Some of the IT companies that we work with are Infosys, Wipro and HCL. On the other hand, we also work with international clients like IBM, HP. We also work with companies outside the IT industry.

Q:  We know that you are involved with the Jawaharlal Nehru National Urban Renewal Mission. The current budget has allotted a substantial amount for infrastructure development. Do you think the JNNURM will benefit from this?

A: Though the number looks large, if we break the amount down, it’s actually not much. The growth is normal. Mysore is also a beneficiary in this mission. The major task is for cities to bring about reforms. The money is spent, but the reform process is being delayed. The JNNRUM has to do more to improve the reform process.

Q: Has the recession prevented companies from doing consulting or have they reduced it?

A: When there is a meltdown, the market for advice is the first one to crash. Organisations feel that they can do without advice. There is a filling in the local domestic market, so Indian-based business and domestic-based markets are doing well. They have started spending in discretionary expense on research and associated consulting.

People who are looking at export markets are tightening their expenses. On the other hand markets like Healthcare, Telecom and Education are doing well. Last year, consulting firms went under severe stress and price pressure due to the meltdown.

Q: What are the challenges that Feedback faced during the recession?

A: We are in a business that assesses opportunities in the market field. We are the early capturers of the meltdown. We do the kind of business that is based on optimism and hope. We started noticing the slowdown around June-July, much before the actual meltdown. We did not expect it to be such a big meltdown. The challenges are to keep employee morale up and take cost-cutting measures.

Q: So how has Feedback coped up with these challenges?

A: We assured employees who have been working with us more than 2 years that they will not be fired. We also went slow on hiring. To cut costs, we re-negotiated some of our rental contracts. We had to make cost price more competitive. We came up with innovative ways to do sales, marketing and business development. We adopted a mix of people measures and business-related initiatives to tide over the recession. We used the bench strength to develop frameworks that will be useable when the market picks up.

Interview by:

Preethi K.

Ist Year, PGDM