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Akash Joshi - Founder Of IMAST
“It doesn’t matter where you’re born. What matters is what you do.”
This is one of the first things that Akash Joshi, founder of IMAST, shares with Startup Pedia in an exclusive interview, where he discusses his beginnings and eventual success.
In 2015, Akash made a decision that stripped him of the comfort of a stable monthly salary and job along with his partner. He quit his corporate career and started IMAST.
Fast forward eight years and IMAST has become one of the leading tech solutions providers in the country. It serves over 100+ clients across diverse industries and has a team size of 150+ employees. From Distributor Management Systems (DMS), Sales Force Automation (SFA), and Lead Management CRM to After-Sales Service Management, Loyalty Program Management, Inventory Management System, and Project Management System — IMAST does it all.
But how did it all start? What did it take in the process?
Akash Joshi opens up in an exclusive interview with Startup Pedia.
THE BEGINNING
Akash comes from a small town in Madhya Pradesh. “It’s called Dewas. I grew up there,” he says.
Despite having a humble environment around him, he knew he wanted to make it big. As a student, excelling in academics is the only thing one can do. So Akash did exactly that.
“I was always interested in studying. It never bored me. In 12th grade, I scored 99/100 in Physics. At that moment I knew that I had that analytical spark inside me. And that’s the thing, right, when you see results, your self-esteem becomes stronger,” Akash tells Startup Pedia.
The next step was to pursue a degree in engineering. Akash Joshi maintained good CGPAs during college as well. After completing his engineering degree in Honours, he decided to do an MBA from the prestigious VMU Salem University.
Throughout his education, Akash remained a student who was genuinely interested in learning and absorbing. “As a small-town boy, I knew education was the only thing that could take me to bigger cities. That’s why excelling in it was almost a non-negotiable,” he says.
A RICH CORPORATE CAREER
Right after his MBA, Akash Joshi landed jobs in companies like Hindustan National Glass and Reliance Communications. Akash says, “These roles helped me understand business and technology and how one affects the other.”
After some years, he landed a pivotal role as an Assistant Manager of Marketing Communication at Kirloskar Brothers Limited, a globally renowned organization. This became the role that gave wings to Akash’s creativity.
He explains to Startup Pedia, “We were operating in the pump industry. I developed the country’s first Loyalty Program especially made for pump retailers. It went on to become a huge hit. It even got an international award.”
“I was working very closely with MD Mr. Sanjay Kirloskar and various other directors and vertical heads at Kirloskar. Their guidance helped me come up with more solutions for the pump space,” Akash adds.
After understanding the intricacies of the pump industry, Akash realized that it needed more technology infusion. To streamline operations and improve efficiency, he launched India’s first Sales Force Automation (SFA) solution in the pump industry.
Always on an unwavering quest to make things smoother, he also introduced the country’s first plumber loyalty program in the pump industry and a lead-based contractor loyalty program. “Both of these played a very important role in amping up engaging and building a strong network of influencers within the pump industry,” says Akash.
In the professional world, Akash worked with consultancy firms like BCG, PWC, Vector, and Accenture and delivered tech solutions that enhanced their operations. He was consistently rated as “Excellent” in all performance reviews, a distinction awarded to only 7-8% of employees at Kirloskar.
A LIFE-CHANGING, RISKY DECISION
Akash was excelling at Kirloskar and garnering appreciation from industry leaders. Everything was going very well.
But…
There was an itch. “I wanted to do something of my own. The startup world fascinated me. And my colleague, Ankur, instilled confidence in me. I knew I had a lot to bring to the table and if I started my firm, I would definitely be adding immense value to people’s lives,” Akash tells Startup Pedia in an exclusive interview.
In 2015, Akash Joshi quit his corporate career and left the comfort of stability behind.
He founded IMAST Operations Private Limited with Ankur Pathak, who used to work with him at Kirloskar.
Akash had a singular mission: to establish a tech solutions startup that redefines customer loyalty and supply chain solutions in the country.
CHALLENGES
In 2016, IMAST began from an office that had two rooms. Akash, now a startup founder, would spend more than 20 days of the month meeting clients, explaining his proposition, reaching out to more people, and doing it all over again every single day.
Akash Joshi says, “I was building a tech solutions startup for the long-term. I didn’t get disheartened by the initial obstacles. I had credibility attached to my name in the pump industry but I was still low on funds. IMAST started with me and Ankur putting in our personal savings. So I was wary of spending it on avoidable things. For transport, I would take buses or trains. For accommodation, I would stay in very, very economical lodges, guest houses, and hotels.”
Initially, the startup began with just one client. The startup founder operated out of his two-room office but knew that he was in for the long game.
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IMAST: A TECH GIANT
Eventually, every effort paid off, and the startup became a tech giant with more than 100 clients across various industries in the country.
IMAST’s flagship product is the IMAST 360 — offering integrated solutions such as Distributor Management Systems (DMS), Sales Force Automation (SFA), Lead Management CRM, After-Sales Service Management, and Loyalty Program Management, Project Management, HRMS, Inventory Management, etc.
Akash explains what sets IMAST as a unique tech solutions startup. The startup founder says, “IMAST is not your regular tech solutions provider. We operate on a strictly client-first approach where every solution we design, be it in supply chain, CRM, or loyalty, is tailored for each company’s individual growth. We know the hassle of interrupted operations and the fears of a declining customer loyalty. IMAST knows exactly how to solve these issues for startups, companies, and organizations.”
With a 95% client retention rate, IMAST commands a valuation of Rs 100 crore.
The tech solutions startup has a team of more than 150 employees and has become a trusted go-to name in the SaaS and loyalty program domains. It works with established industry giants like Raymonds, Ashok Leyland, Fujifilms, C&S Electric, and Trident Group.
He signs off by saying what he always says, “With innovative services, we help the ship of our customers sail.”
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BEYOND BUSINESS
Akash Joshi’s day doesn’t end with being a startup founder. He is an artist and loves creating portraits and pictures. He also has a passion for public speaking, an area which has won him several accolades.
Looking ahead, Akash Joshi aims to take IMAST to greater heights, solve more problems, and build tech-infused solutions.