Magenta BI has launched a Business Intelligence software for channel community. The company was founded in 2018 by entrepreneurs, Vikas Mundhra, Founder & CEO and Vikalp Somani, Co-founder & CTO. The company operates the Magenta BI platform that helps SMEs make data driven decisions through Actionable Analytics. Having played leadership role at iBall Brand since 2001, they tried to deploy a lot of analytics to penetrate the market. In 2018, they noticed that not only their company but their distributors as well were struggling with ERP/Excel based reports. And all the generic DIY BI solutions were not effective. Thus the idea of Actionable analytics was born, giving rise to Magenta BI platform.
Speaking on the announcement, Vikas Mundhra (Founder & CEO of Magenta BI) said: “At Magenta BI we are excited about helping channel partners achieve profitable growth through data analytics. During our days at iBall, we tried looking for existing solutions but the only option was to implement a customized Business Intelligence platform which was not only a major expense but also required technical know-how. While possible for a large enterprise, this is not feasible for an SME. This makes it almost impossible for an SME to make data-driven decisions. With the vision of enabling 10K SMEs to scale growth through Actionable Analytics, we started Magenta Bi. Our platform addresses this pain-point; Data-structuring, integrations and set-up happens in a matter of clicks. We are further encouraged by the response and trust our customers have shown in us and are looking forward to help 10k SMEs.”
Rajesh Saboo, Kolkata remarked: “We are excited to use Magenta BI. It integrates easily with my ERP. Magenta offers ready-to-use dashboards which are customized for distribution business. Also, Magenta BI, is quite different and better because of its focus on channel partners – something that really no other company is doing. The company has developed and offers a robust, easy-to-use and affordable product that not only reduces our cost but also helps us in making better decisions across Sales, Purchase, Inventory and Payments. With Magenta Bi integrated, I have been able to extract so much power from the ERP that I have been using for about a decade now.”
Reinforcing the view, Navdeep Goyal, Owner at Silverline Infocom said: “I am not only able to control my Inventory and Outstanding at a Click but also able to identify gaps in Sales, Purchase, Inventory and Payment. Magenta BI is not a cost but an Investment; an investment into the ability to get a real-time analytics and insights towards Targets, Achievements and Gaps.”