Sanjay Koppikar
Co-Founder & Chief Product
In an exclusive interview with CEO Insights, Sanjay discusses the underlying idea behind starting EvoluteIQ and its market position, his leadership style as well as success mantra, and much more:
Define EvoluteIQ as an organization and its position in the Software products domain.
EvoluteIQ (EIQ) is an end-2-end automation platform company headquartered out of Sweden with core R&D centers out of Bangalore, Stockholm & Silicon Valley. EIQ is a global company focused on enabling hyperautomation at scale across multiple industries. More than 70 percent of our customers are Enterprises that have an annual
turnover of $10BN+ and are investing in automation to bring in efficiency and speed. Since inception EvoluteIQ has been growing at a CAGR of 280 percent and our partners have built more than 60+ Industry Solutions like RCM, Denials Management, O2C, Claims Management, KYC, and more, where the process has been automated using the various modules of the e.IQ platform.
The e.IQ platform is the only unified Hyperautomation platform globally that has all the hyperautomation features 'Out-Of-The Box'. These include AI, ML, RPA, Analytics, iBPMS, IDP & Connectors with the core Low Code/No Code technology. The platform also has next generation composable automation features like Blockchain and IoT already available and in production with customers in the Media and Banking industry.
Describe your leadership style. What is your success mantra?
To be a successful leader, you need to have a participatory leadership approach. As a leader, when it comes to your team, you should always have this ideology that everyone on the team has something to contribute. You must ensure each of your team members gets an equal opportunity. Regardless of the hierarchy or experience, if a member of your team is an expert in a particular field, then that respective field should be comprehensively owned by him/her. You can help them with external prodding in terms of direction, but the ownership must be theirs. This fosters accountability and excellence to perform.
I feel I have the best job in the world at EvoluteIQ. I have a great team, and that enables me to do a lot of Blue Sky thinking and be continuously innovating.
My success mantra has always been to stay hungry and stay foolish. You should never feel successful. Once you feel successful, there will be no motivation left for you to work.
Could you share insights about the skills currently playing a pivotal role in the product management segment in the IT domain?
India has been predominantly in the IT industry for so many years and is also called the Silicon Valley of the East. We had phenomenal technical skills and talents, which I don’t think anybody else in the world can come even remotely close to. However, the rise of the IT service sector has made us more service focused
Be original. Be yourself
The e.IQ platform is the only unified Hyperautomation platform globally that has all the hyperautomation features 'Out-Of-The Box'. These include AI, ML, RPA, Analytics, iBPMS, IDP & Connectors with the core Low Code/No Code technology. The platform also has next generation composable automation features like Blockchain and IoT already available and in production with customers in the Media and Banking industry.
Describe your leadership style. What is your success mantra?
To be a successful leader, you need to have a participatory leadership approach. As a leader, when it comes to your team, you should always have this ideology that everyone on the team has something to contribute. You must ensure each of your team members gets an equal opportunity. Regardless of the hierarchy or experience, if a member of your team is an expert in a particular field, then that respective field should be comprehensively owned by him/her. You can help them with external prodding in terms of direction, but the ownership must be theirs. This fosters accountability and excellence to perform.
I feel I have the best job in the world at EvoluteIQ. I have a great team, and that enables me to do a lot of Blue Sky thinking and be continuously innovating.
My success mantra has always been to stay hungry and stay foolish. You should never feel successful. Once you feel successful, there will be no motivation left for you to work.
Could you share insights about the skills currently playing a pivotal role in the product management segment in the IT domain?
India has been predominantly in the IT industry for so many years and is also called the Silicon Valley of the East. We had phenomenal technical skills and talents, which I don’t think anybody else in the world can come even remotely close to. However, the rise of the IT service sector has made us more service focused
where we work as we are told. The product management aspect of the Indian IT industry was massively impacted by the rise of the service sector. Today, it’s very hard to get hardcore enterprise product management capable people out there in the market.
One of the primary skill sets required in the product management segment is longevity. People need to work for at least five to ten years in a product focused company to get to where they are. Product management is a blend of under standing various domains, such as technology domain, business areas, competitive market analytics, project management, PPP concepts of marketing and so on. One of the most important skill sets of being a product manager is to be extremely self-critical. You always need to be in the mindset to develop the product even better.
What is the future destination you are heading towards?
The future for the hyperautomation space looks very promising. Analysts expect this to be a $600BN marketplace growing at a of 22 percent over over the next 5-7 years. With the impending global market slowdown, everyone wants to lower their cost significantly. Enterprises are looking to 'go live' with new products and offerings to the market much faster. This is a good opportunity for companies like EvoluteIQ that accelerate automation and time to market for these companies at a fraction of the cost.
We believe that 2023 will be a good year for us to enable hyperautomation at scale across various industries.
Sanjay Koppikar, Co-Founder & Chief Product Officer, EvoluteIQ
A serial entrepreneur, author, motivational speaker, and a Rotarian with more than 33 years of experience working in different parts of the IT industry, Sanjay Co-Founded and is currently working as the Chief Product Officer of Hyperautomation enablement platform company, named EvoluteIQ. Six of the products developed by him and his team went into Gartner Magic Quadrants in their respective areas. He is a published author with three published books and three more are planned in the next two years. He is also a TEDx speaker.
•Hobbies:Storytelling, Singing, Writing and Drawing
•Favorite Book:'The 7 Habits of Highly Effective People' by Stephen Covey
•Favorite Travel Destination: Jungfraujoch, The Himalayas, Himachal Pradesh, Kashmir, Sikkim
One of the primary skill sets required in the product management segment is longevity. People need to work for at least five to ten years in a product focused company to get to where they are. Product management is a blend of under standing various domains, such as technology domain, business areas, competitive market analytics, project management, PPP concepts of marketing and so on. One of the most important skill sets of being a product manager is to be extremely self-critical. You always need to be in the mindset to develop the product even better.
What is the future destination you are heading towards?
The future for the hyperautomation space looks very promising. Analysts expect this to be a $600BN marketplace growing at a of 22 percent over over the next 5-7 years. With the impending global market slowdown, everyone wants to lower their cost significantly. Enterprises are looking to 'go live' with new products and offerings to the market much faster. This is a good opportunity for companies like EvoluteIQ that accelerate automation and time to market for these companies at a fraction of the cost.
We believe that 2023 will be a good year for us to enable hyperautomation at scale across various industries.
Sanjay Koppikar, Co-Founder & Chief Product Officer, EvoluteIQ
A serial entrepreneur, author, motivational speaker, and a Rotarian with more than 33 years of experience working in different parts of the IT industry, Sanjay Co-Founded and is currently working as the Chief Product Officer of Hyperautomation enablement platform company, named EvoluteIQ. Six of the products developed by him and his team went into Gartner Magic Quadrants in their respective areas. He is a published author with three published books and three more are planned in the next two years. He is also a TEDx speaker.
•Hobbies:Storytelling, Singing, Writing and Drawing
•Favorite Book:'The 7 Habits of Highly Effective People' by Stephen Covey
•Favorite Travel Destination: Jungfraujoch, The Himalayas, Himachal Pradesh, Kashmir, Sikkim