Introduction
This has convincingly been established by many research scholars. India is no exception to this phenomenon. Startups help such entities by providing innovative applications (Apps) and / solutions that are essential for frontend transaction processing, RPA, CRM with AR and VR, data analytics with AI and ML, information safety and security, storage, and retrieval management, etc. Certain startups help by manufacturing innovative products like IoTs, sensors. robots and drones, etc. that are essential for digital transformation.
During several personal interactions of the author many CIOs, CTOs and CDOs have acknowledged such help and support. According to them such collaborations with startups prove to be effective and efficient in terms speed, quality, and costs.
Modus operandi for such collaborations varies depending upon financial strength and stability of a Startup that has reached the stage of providing an adaptable solution in the framework of digital transformation strategy of an entity. In many cases there are mergers and acquisitions. Some deals are for outright purchase of the technology, product, solution and/or Application (App). In other cases fee-based deals are done with varying options for initial fixed fee, followed by recurring revenue earnings through royalty depending upon number of customers, or units sold and/or time based fixed payments. But before all these every startup passes through painful struggle for existence.
This story is from the November 2020 edition of The Management Accountant.
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This story is from the November 2020 edition of The Management Accountant.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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