Biomall.in

India is quickly moving towards becoming a digitally empowered society. The widespread use of the internet and acceptance of digital platforms is going to boost the e-commerce market. The industry is not just focusing on selling things online, but ensuring a seamless shopping experience and building digital trust. E-commerce businesses are enhancing the entire trading experience for both buyers and sellers. This growing industry has led to a whole new world of opportunities for scientific instruments manufacturers as well. Biomall.in, founded in 2016, has been established to deliver laboratory, life science, and diagnostic products online. It offers thousands of products from leading brands across numerous categories catering to the R&D, testing and pathology labs in the life science and healthcare sector. The company aims to simplify the process of laboratory purchases by connecting the buyers directly with the manufacturers and authorized distributors of the laboratory products, through its online portal. It helps to reduce the timeline associated with a single lab purchase from 4-7 weeks to 4-7 days and also cuts the costing incurred in buying the products offline. Moreover, it is convenient for laboratory users since they can get almost everything they need from one platform, rather than contacting 5-10 sellers. Biomall’s online platform helps lab professionals to buy lab products from several brands in just a few clicks. Exemplifying Leadership Dr. S. Jhaveri is the Founder and CEO of Biomall.in. He holds a Bachelor’s in Chemical Technology from ICT, Mumbai, and PhD in Chemistry and Chemical Biology from Cornell University, Ithaca, NY. He has trained, mentored and supervised several students. He also delivers lectures, grades exams, and conducts office hours for freshman chemistry students in the USA. Dr. Jhaveri believes that passion, hard work, self-belief and being positive are key mantras to be a successful entrepreneur. In the year 2012, he started his distribution business for laboratory products under the company, Chargen Life Sciences LLP. During the initial 3 years of the distribution business, he studied the lab industry market deeply and analyzed the problems faced by laboratories. Based on this analysis and the growing consumer inclination towards e-commerce, he found that an online platform, connecting buyers and sellers of lab products, to be a perfect solution to tackle the current problems. Thus, in mid 2016, he launched India’s first online marketplace for laboratory products Biomall.in. Products and Services Biomall hosts 100,000+ products from 150+ brands across 100+ categories in Lab Chemicals, Microbiology, Diagnostics, Chromatography, Genomics, Proteomics, Lab Equipments, and Lab Consumables. The direct users of Biomall are Laboratory Professionals from life science and biotech companies, Pharma companies, academics, hospitals who can buy any product required in their laboratories. It also offers digital marketing services to promote the products of Indian manufacturers to laboratories involved in research, testing, and diagnostics. The authorized distributors or manufacturers of laboratory products can easily set up an online store on Biomall.in, and promote their products through digital marketing services. Dealers can liquidate their stock under the clearance sale section at zero setup costs. It helps to strategize and execute digital promotion via e-commerce, email, social media, blog, WhatsApp and other online media. Biomall also offers services to setup labs from the basics designing, furnishing and procurement of all kinds of equipments and reagents required in a lab. Moreover, it exports Indian manufactured products to 35+ Countries Biomall.in Offering a Seamless Online Lab Equipment Shopping Experience

contributing to the Make in India initiative launched by the Government.

Sustaining the Competitive Spirit

The major competitors for Biomall are B2B e-commerce platforms that include Industry buying & Amazon business who provide an online platform for buying all sort of industrial supplies. These sites are however not focused on the lab industry and do not have a wide range of products that Biomall offers.

The company gives a target customer base to all the sellers who can then use this platform as a good marketing tool as it caters specifically to the scientists, pathologists, medical, Pharma and QC professionals.

In India, Biomall stands as the only comprehensive platform to target the lab professionals through its customized online e-commerce business model and acts as one point of contact for international buyers interested to source their supplies from India.

Overcoming Hurdles

The prominent challenge Biomall faces is that of the offline credit based purchase system being followed in the majority of the big companies. Biomall follows online advance payment which could be difficult to incorporate in these companies, as it needs a big change in their purchase system.

The cost factor to setup and manage the online business is huge, considering the costs incurred in advertising, digital marketing, employing executives for customer service, technical assistance, marketing, consultancy, web development, logistics, and accounts.

The Future Ahead

The e-commerce industry has a huge potential and is expected to witness the fastest growth. Biomall has plans to grab the opportunities and expand the business successfully. In the upcoming years, it aims to further develop its technology and build an app for better user experience and is planning to raise funds for its technology venture. It also aims to expand its business outside India and invest in extensive digital marketing so as to reach customers worldwide

Dr. S. Jhaveri Founder & CEO

One stop shop for all life Sciences and laboratory Products “ “

hile it is not difficult to set up a company, it W requires work, planning, perseverance and much more to achieve the status of an outstanding company. That is why every nation may have tens of thousands of companies, but only a handful of them are excellent. What then are the ideals that make for an outstanding company? There are no set answers, and therefore, let’s look at some examples. TCS, Maruti, HUL, are companies based in India, which we would term as outstanding. This year’s vote for companies operating in India by Asia Money’s 2019 poll awarded the top spot to TCS – the list comprises companies not solely based on their profit-earning capacity but on developing trust and setting up procedures that allow it to succeed in different environments and at different times in the economic lifecycle of a country. An outstanding company would then be one that: • Consistent performance: It meets the business objectives of the company again and again over the years. Its goal could be one of many - earning profits, providing employment, providing a particular service, etc. After all, sustaining margins and profits through varying business cycles over many years is what has made companies like HUL or Reliance or TCS achieve a hallowed status in India. • Probity and fair play: Consistent performance alone does not make a company outstanding. The means it adopts to achieve these objectives are also critical – they must be honest, compliant and fair, both for customers and employees. The reputation that the Tatas have built over the years in India (and abroad) for fair play, strict compliance of the laws of the land and the abjuring of bribery and corrupt practices has contributed a lot to their continuing long term success. • Rooted in its milieu: It is critical that the company

remains rooted in the community within which it operates and adapts to its cultural and social practices. McDonald’s is an excellent example of this – it did not sell beef instead introduced vegetarian burgers and other vegetarian products due to a large number of its customers being vegetarian as well as being sensitive to local sensibilities. Being Indian, the values we hold dear are trust, flexibility and hard work. An ideal company should also display the values of the culture in which it is situated. While all Indians appreciate a good product or service, we also want a personal touch, a special discount or an additional service free. Maruti has recognised this very well. • Strict adherence to quality parameters – Every company that is aiming to grow and become a company to reckon with has to have carefully laid down quality standards and processes. This enables companies such as HUL, L&T and ITC to consistently offer the same quality of products and services to its customers across regions and at different points in time. • Building trust with customers and employees. One way companies do that is by meeting all commitments to its customers and employees – whether they are delivery deadlines or committed quality of product or service delivery. A company that consistently meets its committed deadlines for new products, technological up-gradation and meets its client’s needs earns the respect of clients. Builders like Amrapali or many others who promised to deliver projects of a certain quality and within the committed timeframe but didn’t deliver on their commitments have been dealt a death-blow and will no longer be able to command the trust of its customers. • Innovation: a company should be quick and nimble and IDEALS OF AN OUTSTANDING COMPANY OUTSTANDING COMPANY

be able to adapt to change as and when required. When the th Government of India announced demonetisation on Nov 8 2016, which company was first off the block? Paytm sensed an opportunity to get the highest visibility for its nascent digital payment platform at a time when online payments were newly emerging. Its bold moves for visibility and expansion at that juncture gave it a headstart over the competition.

• Agility: In today’s business environment, there are rapid changes in technology and in the way of doing business. An outstanding company is mindful of changes in its environment, keeps abreast of them and takes steps to adapt and change if it finds it necessary. When the safety of lady travellers became a concern, Avis set up a Secure

December 2019| Shalini Gupta Founder & Director Zorba Books

Desk Protocol for women travellers, using the latest technology to address this need.

• Quick resolution of issues - Whenever an issue arises within the company or with clients, prompt resolution and redressal are crucial. Issues may be small in the beginning but, if allowed to fester, may spiral out of control. Zorba Books being in the service industry takes special care to resolve all issues quickly and fairly for all parties concerned. The reason it has some of the best testimonials.

These ideals of an outstanding company are the ideals that Zorba Books, a self-publishing company, endeavours to uphold.