The Silicon Review
Set up in 2010 with its headquarters in Pune, Optimizt Technologies set out to offer clients across the globe with top-notch services in engineering product design, simulation, testing & manufacturing services. It’s an ISO 9001 and MSME Certified Company offering niche engineering solutions to diverse businesses around the world. Some of their verticals include automobile, oil & gas, appliances, automation, biomedical, civil structure, medical equipment, and heavy machinery & rail.
The company’s portfolio displays Fortune 500 and many world-renowned companies including brands like Johnson Controls, General Electric, ANSYS, Alfa Laval, Forbes Marshall, Emerson, HORIBA-MIRA, Henkel, TATA Consultancy Services, Jindal Steel, Volvo Eicher, Atlas Copco, MAHLE, Putzmeister are just a handful of names to whom we have been providing our services and consultancy.
In conversation with the visionary behind Optimizt Technologies, Jitendra Jagtap
Q. Why was the company set up? And how did you expand your company and its offerings over the years?
I believed that most fortunes are made during economic downturns and hence at the end of 2009, the idea to form new start-up was initiated after carrying out extensive market research & consulting business analysts. Optimizt Technologies (OT) was founded in 2010, with the aim to become a globally reputed consulting company that serves a diverse array of industries dealing with engineering & technology. Innovation, economic performance, valued added services& persistence is built into the foundation of OT.
Due to OT’s outstanding service quality & performance, within 9 years of business it is recognized as one of India’s fastest growing Engineering Services Provider. It has also received prestigious International awards & recognitions for innovative services and business excellence in year 2012, 2015, 2018 and 2019. OT has grabbed total 6 International Awards & recognitions and more than 10 National nominations for innovative start-ups by leading Media companies. In 2012, first awarded by Parametric Technology Corporation (PTC), USA for excellence in business being value added partner. Since then OT has been awarded by business analyst & media companies in USA, Germany, UK & India.
Q. What is your opinion over AI and Robotics? Do you think it is mandatory for the companies to invest on advanced tech?
Robotics has been the core of the Industrial Automation since last decade. Robotics could transform our future along with Artificial Intelligence. Robotics has already changed our life in so many ways. Modern Technology will bring the world to you and human life will be easy. We must accept this change not for fun but for necessity.
AI and Machine Learning technologies will make human life easy while humanizing technology. There are bright & dark opinions on AI. I think if you are passionate & crazy for next-gen technologies then you must invest in it without any doubt.
In my opinion, the world will be more interactive with the development of artificial intelligence. I think this will make business processes more efficient and economical. I think it will be easier to do business with the right people, and technology will help you make better decisions. On a personal level, I believe people that challenge the status quo, and disrupt the marketplace will have more success, and those that don’t adapt will end up losing their jobs.
Q. What would you say are the top three skills needed to be a successful entrepreneur?
In my opinion, to be a successful entrepreneur, you must have qualities like clear sense of vision, self-discipline, and persistence on priority basis apart from other desired qualities like integrity and decision making. It is also important to identify your strengths and keep learning.
Q. There is nothing more important for a successful business than a well-defined mission and vision statements. Can you explain your M&V statements in brief?
Our mission is to enhance the efficiency and expertise of our resources by innovation & continuous improvement such that our clients gain better productivity & satisfaction. Meanwhile, we aspire to be the most recognized and valued engineering & technology services partner by our clients globally.
Q. What were the biggest initial hurdles to building your business and how did you overcome them?
Some initial hurdles we faced while building the business were lack in funds to invest in quality resources, brand & trust, and scalability along with low profit business till we develop an image and portfolio to showcase our success stories & capabilities.
Initially we started with limited service offerings based on our existing capabilities & invested accordingly. Slowly with the help of partnership, segmented select market, client site resource deployment, we have diversified our offering. Formulating business development strategy, building network and relationships, and enhancing resource efficiency has helped us to grow over a period of time.
Q. How satisfied are your clients with your service? Can you share some of your client’s success stories?
Our Clients are extremely satisfied with our services. We go beyond providing expected services within the stipulated time along with premium quality. Beyond this, we have been involving our resources to take ownership in the client business model and provide additional value added services. We think different to deliver the best. Because of this realization, our major clients are still working with us since more than five years and our engagement bond is getting stronger day by day.
Q. What do you think is the most memorable moment in your career?
I was the founder & COO of an Indian startup which was then acquired by a renowned Canadian organization. It was a challenge for me to organize, manage & execute our first awarded project by a client which was worth 15 million dollars on time. We managed to execute it successfully. Later this company grew exponentially to worth 30 million in less than three years before the acquisition. This is a memory and an achievement that I will always cherish.
Q. What is your greatest fear, and how do you manage it?
Fears such as need for innovation, pricing model aligned to client business metrics, retention of talent in budgeted cost are concerning. These compounding parameters are driving significant transformation, pushing professional services providers into a new era of services delivery. Over the course of the next few years, we will see significant changes in the services engagement models. To manage the fear, we need to move away from traditional business models to demand more value and tighter service integration.
Meet the intrepid pioneer behind Optimizt Technologies; Jitendra Jagtap
Mr. Jagtap is a Mechanical Engineer having 14 years of experience in engineering design and research along with project management. Previously, Jitendra has served in MNCs as a leader, manager, consultant and a COO. He is a certified professional for USA’s top software OEMs. He is a renowned corporate trainer who has successfully delivered more than 125 corporate trainings for National & International clients.
His role at OT is that of a techno-commercial executive, which includes overseeing cross-functional groups and defining new business strategies. In addition to this, he is also involved in identifying emerging technologies, new business prospects, key accomplices and OT’s branding.
The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...
Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...
2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...
Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...