And I lasted a full six months and decided that I didnt want to be a professional accountant. What was going on through your mind? We were looking for a partner that has the chops, that has the history and the stripes to help us with our cloud journey. That has been the biggest bump. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. Alejandro: And in terms of enterprise sales, Sanjay, that you were eluding to, what are your biggest takeaways from enterprise sales because its a beast. Alejandro: Did you recruit other people like talking of bootstrapping and especially in the early days, who were the initial people you got around you to help you out? Tell us, after this presentation then you speak with your wife or with your family, and you still have to think about the idea of going at it. Especially, the larger the organization that you sell to, the more durable and the more persistent you need to be. If youd like to do it, you can do it, but our R&D is in Germany, and youll have to do it here. And I wanted to move back to the U.S. My family wanted to move back to the U.S. How do you guys monetize? Q&A: Beam Suntory CEO rides whiskey boom at home and abroad , Q&A: FCB Chicago ad agency CEO says big ideas still work on little screens , Q&A: Shinola looks to bring manufacturing back to the U.S., and stakes a claim in Chicago . We found a great partner in Excel KPR. I think weve just begun to scratch the surface of how our products and solutions can help customers and help our customers succeed even more. Shah discusses the American Dream, entrepreneurship, bootstrapping, adapting to . Theyre very skilled these days in terms of how they decide what to buy. Our youngest just went off to college last month, we are empty-nesters now so there's motivation to finish it out. Sanjay Shah: Yes. Sanjay Shah: I think the next thing Ive learned is always to learn to learn. So accounting runs in our blood. SAP was then making a foray into the U.S., into North America. Lets just say that. I did have a word with her, and she thought Id lost my mind because as you can imagine, being one of the first employees of SAP, I had a very good package with them including some stupendous stock options, which I would have to get rid of or liquidate. Perhaps it should be neither, and I should do what Sanjay said would work better. You need to find cheerleaders in an organization such as SAP if you want to rely on them to be your go-to-market partner. 2458 Likes 111 Comments - University of South Carolina uofsc on. Then PricewaterhouseCoopers. Alejandro: Wonderful. So accounting runs in our blood. They used to call it Platinum Consulting, where we go and help troubled SAP projects across the globe. So I ended up taking a job at Pricewaterhouse as a staff auditor right after I graduated from grad school. "We are excited to. How do you guys monetize? Just navigating the politics and creating and developing the value, etc. And you need professional sales help. : Why did you decide to all of a sudden bring outsiders into the mix? So then what happens after you make the decision. Thats something that I believe has sold people as well that I always wake up every day worrying about what is it that I need to learn more, and not bask in the success of what I have learned and what Ive achieved. The whole business paradigm has changed as I described. Employees at Vistex, Inc. rate Sanjay Shah higher than employees at Innovative Interfaces rate James Tallman I would like to describe it as a bit chaotic, but a very functional democracy. And overnight, they literally go belly-up. Sanjay Shah: Correct. His new book is titled Fares, Do Not Sell/Share My Personal Information. Kapoor was a contestant in the Indian reality show 'Bigg Boss' in 2011. I also went to college right there, and my college also happened to be a mile away from where I lived. Right after Pricewaterhouse, you went to General Motors. So again, working with SAP, such a gigantic organization has its set of challenges, and there have been several lessons learned. There is no one path to success. Sanjay Shah: We have three distinct revenue streams. There are many paths to progress and success. Thats when I decided to expand the hiring for the organization. To this day, continue not to be addressed adequately in the ERP System. Brazil, South Africa, all countries in Western Europe, Asia, etc. "Our relationship with . So our focus is, how can we help our customers succeed even more with our products and offerings? Fast-forward to today. I come from a family of traders and accountants. Is that right? Sanjay has been instrumental in creating an entirely new category of business software called "Go-to-Market" programs and has charted a visionary path for Vistex that transcends the "business as usual" mindset. Sanjay Shah: So, she was a little consumed. That was a very marketable resource. Why Canada? Sanjay Shah: I think in 2001, I was able to land our first customers. Recently the company raised $65 million from Accel-KKR. When we say we listen, listening not just to our employees who are the closest to our customers and have the best product ideas, but also to our customers. Thats the degree I had. Maybe I should trust A more than B, so I should do what A said. No. Get Contact Info for All Departments Vistex Org Chart Sanjay Shah Founder, Chief Executive Officer, and Chief Architect 6 6 : Now, you have them as a strategic partner, so obviously, the relationship is there. : Even though you didnt want to be a professional accountant, Im sure that having a good grasp on the numbers has made a difference for you. Everybodys journey is unique, and everybodys circumstances are unique. Theres not always just one decisionmaker in such a large company, especially when we rely on them as our go-to-market partner. Sanjay Shah is a tech entrepreneur, Founder, CEO & Chief Architect of enterprise software company Vistex. We want more growth, more customers, a larger solution footprint. I think that has been a bit of a challenge for us having built a business on licensing software and all the follow-on revenue that comes as a result of that has been a bit of a bump for us. People used to have only accounting software back then, but MRP was the first-ever software that was used by large companies. Then we also have professional services to implement our software. Its long. Then to ensure that they continue to receive value as they expand their portfolio of products. You cant just shove things down their throat and hope that they use it. Thats quite a significant amount of employees. : What were some of the key ingredients that you were looking for in a partner? I did not know there are a few folks that work at Vistex (who) are affected by this directly. Alejandro: Absolutely, and well talk about your bootstrapping experience in just a bit. Start Free People Search A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Directory of Profiled Business People: Sanjay Shah Sgrignuoli, Philip - Shahait, Mohammed > Shah, Ruskinarxon - Shah, Sayad > Shah, Sanit - Shah, Sanjaykumar > Shah, Sanjay 1-25 of 525 Contacts 1 Founder and President at Vistex, Inc. Hoffman Estates, Illinois . I also went to college right there, and my college also happened to be a mile away from where I lived. As I said, I was living in a bit of a bubble. For the people that are listening, Sanjay, what is the best way for them to reach out and say hi? A: Yes, but Chicago is my favorite city in the world and it will always be. Alejandro: Wow! Is that right? Right after Pricewaterhouse, you went to General Motors. We have a relatively flat organization. Sanjay Shah: I think the advice I would give to my younger self is, dont follow any advice. Sanjay Shah: Yeah, exactly. We were able to get into new industries and even upsell to our existing customers. Sanjay Shah is a Dubai-based British-Indian businessman and suspected tax fraudster.He founded Solo Capital, a hedge fund firm which closed in 2016, and the NGO Autism Rocks, which closed in 2020.. Shah is a prime suspect in a case regarding the Danish Government being allegedly defrauded of 12.7 billion DKK for (1.65 billion euros) between 2012 and 2015, part of the CumEx-Files involving . There is so much out there, and there is so much you can I think you can never rest easy and say, I think Ive learned what I need to learn to be able to be successful. You always have to have a continuous learning mindset. So quite an accomplishment. An entrepreneur cant say, Yeah, Im also on a double-duty and be able to sell into the enterprise. : How big was the business when you joined them? Sanjay Shah Friday June 3 2022 Edit Shah charged that its steering is in the hands of AIMIM leader Asaduddin. Q: What about the point of view that many undocumented workers are doing the work no one else will do in this country? I decided to come 10,000 miles away to go to business school. How was the growth of revenue overtime during those years? Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. We felt that we needed to bring in some external expertise to help us grow the subscription part of our business. : Why did you go about bootstrapping rather than perhaps taking a look at financing the operation? And you need professional sales help. There are so many different constituencies at SAP to find the right balance to bring all of these together for hem to cheer for you. Thats our vision. [Q&A: Beam Suntory CEO rides whiskey boom at home and abroad ], [Q&A: FCB Chicago ad agency CEO says big ideas still work on little screens ], [Q&A: Shinola looks to bring manufacturing back to the U.S., and stakes a claim in Chicago ]. I wanted to get some operational experience and work on the operational side of things, operation supply chain, different terms. That is more than a fulltime job in and of itself. We dont have venture funding or angel funding to go launch ourselves in a big fashion to let the world know that were out there. That has served us well. My advice is, dont follow any advice. Thats how I was able to bootstrap. Sanjay Shah: Yes. : Yes. An Indian immigrant, Sanjay Shah bootstrap story began when he left Mumbai, India to attend Lehigh Universitys business school, earning his MBA in 1989 at the age of 21. WASHINGTON, DC: Sanjay Shah, 46, the founder and CEO of Vistex, a computer software company, has bought the most expensive condominium in Chicago's real estate history, a penthouse on the 89 th . : Correct. We have people all over the globe, Vistex employs all over the globe and selling in virtually every geography. Dipen Shah Rajesh Chaganti #Vistex #SAP #Agro Liked by Dipen Shah https://lnkd.in/d4m_Ui2N Very proud of my wife Gayatri Raman, helping take Clearwater Analytics public. So I grew up in a very close family both literally and figuratively. Its long. The first type of software in supply chain that was the first of its kind back then. There are many paths to progress and success. Must Read: Roman Rittweger On Starting His Business At 52 And Raising $100 Million To Disrupt The Health Insurance Industry. Constituency allowance Rs 18,000. But the reality now is different. People used to have only accounting software back then, but MRP was the first-ever software that was used by large companies. Photo by Christa Neu. Our customers tend to be larger companies, so perhaps we sold to one division, and then another division comes across, another geography for the company comes along. Vistex Inc., the global leader in pricing, trade, royalties and incentives management solutions, announces the acquisition of Webdata Solutions GmbH's assets and team, a leading technology . Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. This whole Cloud Revolution, we feel that we are a bit behind in this regard in terms of being out there and being perceived more as a company that can do equally well with our cloud offerings. What were some of your biggest takeaways because now, you have your own company, but I think that being able to work with such a massive player and understanding the dynamics and how they worked, Im sure that many of those lessons youve applied to how youve built and scale your own business. One is I think I have learned to be a better listener. Exactly, especially if you intend to bootstrap, I think you have to have a good accounting streak in you. But there are a lot of players out there. Because it was bootstrapped, because we felt we had a well-engineered product, decided to get into a strategic partnership to help take it to market. : Yeah. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at [emailprotected]. So something struck me and I said, Well, I cant do it here. There are different sources to get money in. Thats when I decided to expand the hiring for the organization. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Then from what I hear, it seems it was more you build it; you build something great and something that people would like to use, and then theyre going to come. Sanjay Shah: We have a very demographic process. I come from a family of traders and accountants. But there are a lot of players out there. Then there is annual maintenance tied with it. I thought, Wow. : Initially, for the first year, and a little over a year, it was just me by myself. The Vistex Foundation is a private foundation launched in 2012 through the support of Sanjay Shah, the founder of Vistex, Inc. 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