In an interaction with Bfsinxt, Amrita Malik, Co-founder & Chief Business Officer, Innoviti Solutions, talks about her journey of working across different industries and joining Innoviti Payments Solutions and being designated as Co-founder.
She joined the organisation in 2009 and rose through the ranks to become a part of the management. She was designated as co-founder and chief business officer (CBO). Edited Excerpts;
Q. How do you view your career trajectory? How exciting has it been for you?
I began in sales and progressed through several divisions such as account management, operations, product management, and so on. My inquisitiveness and customer-centricity aided my rapid growth. It’s been thrilling to witness market movements, changes in consumer behaviour, changes in the payment business, and so on.
The journey has been very exciting for me and the company both. We have built a technology led payment solutions that today proudly unifies over 1.3 billion consumers, two lakh brands, 30 million merchants, and 100 banks and financial service providers in India. The platform helps the merchants to build sales and assists consumers in making smarter purchasing decisions.
Q. Has it been going as you had planned or was it more like you tapped opportunities as they came along?
Becoming an entrepreneur was a slow unfolding, I would say. After completing the Executive Leadership Program at Harvard Business School, I realized that my learning and education should be used to create opportunities in our country, so I decided to do more than just do a job, but to create jobs and encourage young talent, especially for those who cannot afford to attend the best institutes but are willing to work hard. Our country has big ambitions, and I felt like I could help people achieve them in my own modest way.
Rather than tapping an opportunity, I created my own. One of the key challenges in the Indian retail industry is organizing information, the problem was huge for large retailers, but as we went deeper and deeper into the market, we realized that small retail chains and long tail of retail also have same problems. In fact it was far serious for small retailers because they don’t have enough resources to manage the requirements.
And this was where I found my ‘aha moment’ & thought of picking up this occasion because it was too large for anybody to crack. My passion for identifying the roadmap and creating a winning partnership led me to entrepreneurship, and it has been a memorable journey ever since.
Q. How do you view yourself? more of a risk-taker or risk-averse person?
I believe there is always risk when we decide to offer a new service, but we do our best to be prepared for such possible uncertainties. We are incredibly strong at identifying strategies to manage risks once we have a clear understanding of the extent of the opportunity. The only need is that the opportunity be substantial.
Q. Over the years, how has your risk taking capability changed?
I suppose it has been the same since we initially began. Companies should not expect to be able to predict every event that might result in a risk occurring. On the other hand, getting the correct balance in the degree to which risks should be controlled. For us, we maintain new projects separate from established business lines.
Q. Not intending to stereotype, but as a woman, how has the journey been so far?
The journey of an entrepreneur knows no gender and has nothing to do with gender. The path is fraught with difficulties and can be frustrating at times. Courage, drive, and experience have served as a firm learning curve, guiding me to develop and adapt.
Q. Where do you seek inspiration/motivation from to get going in what you want to achieve?
Looking back, I realize that many individuals affected and shaped me into the person I am now, from my co-workers to strangers who became friends to consumers. Almost everyone has taught me something, sometimes consciously, sometimes unconsciously. My father, though, and Rajeev, the Founder and CEO of Innoviti, have taken an active role in shaping me.
While my father urged me to overcome my worries, Rajeev taught me that anything is possible. When things went wrong, he taught me to break the problem down into bite-sized parts and go on, tackling each piece one at a time until the problem was handled. As a result, no issue was insurmountable, and no objective was unattainable.
Q. Lastly, any advice/message to young women out there trying to rise in their career trajectory be it corporate life or entrepreneurship?
The entrepreneurial path, like any professional career, has highs and lows. Only you must leap if you have a vision and the desire to make it come true. On the other hand, success must be earned, and one must welcome possibilities disguised as hard work, failure, and obstacles. Don’t hesitate to seek assistance when necessary, but accept responsibility for your decisions as you embark on your business adventure.
