Iris Global Services has had a remarkable year in CY 2024, with key growth driven by sectors such as Education, State Digitalization, PSU projects, and BFSI. In this interview, Mr. Sanjiv Krishen, Founder & CMD of Iris Global Services, shares insights on the company’s success, their business objectives for 2025, the challenges they anticipate in the distribution landscape, and the trends shaping the industry.
DT: How did your business perform in CY 2024? What were the key factors that contributed to this success?
Sanjiv: Iris is on track to achieve a revenue of Rs 3,000 crore in FY 2024-25. Key growth sectors include Education, which remained the primary revenue driver, State Digitalization projects, PSU projects like Gujarat Refineries and the BFSI sector through DPDP implementation and E-Court projects. Additionally, several major projects for PowerGrid were successfully completed.
A significant factor behind this success is our "Partner First" approach. Iris has built a reputation for being dynamic and highly partner-friendly, ensuring that every deal is personalized and rewarding. Our partners feel valued and confident in working with us, which has strengthened our market presence.
DT: What are your key business objectives for 2025? How do you plan to achieve them?
Sanjiv: Iris has expanded into the Telecom and Security Surveillance sectors, introducing a diverse portfolio of new products and brands. Our objective for 2025 is to enhance value for our partners by providing cutting-edge solutions in these new sectors as well - that will help them close deals faster and generate additional revenue streams. By delivering the latest technology in these domains, we aim to improve customer satisfaction and increase market penetration.
DT: What key challenges do you anticipate for the distribution business this year, and what advice would you give to navigate them effectively?
Sanjiv: One major challenge is the increasing deal size, as IT and digitalization have transformed how businesses operate. The advent of AI-driven solutions has led to massive investments across industries, including public sector enterprises (PSUs), government organizations, education, hospitality, healthcare, and FMCG.
Iris has actively enabled partners to implement AI learning labs, expand robust EMS production lines for chip manufacturers, and enhance automotive and engineering facilities. With this rapid growth, funding availability for back-to-back business transactions, OEMs, and partner enablement remains crucial. Iris is committed to assisting partners with better financing options, ensuring smooth transactions and faster deliveries. Strong financial discipline is key and our partners recognize the importance of timely payments to maintain credibility and operational efficiency.
DT: What key trends do you think will shape the ICT distribution landscape in 2025?
Sanjiv: AI is the defining trend in the ICT distribution landscape. It has gained strong traction, and customers now understand its potential in driving operational efficiency and revenue growth. The adoption of AI-based solutions will continue to accelerate, shaping the future of enterprise IT, automation, and digital transformation.
DT: What are your expectations from brands/OEMs to foster a more collaborative and profitable partnership?
Sanjiv: Iris enjoys a strong and collaborative relationship with all our OEMs and brand partners. They provide valuable training and technology insights to our team, empowering us to offer innovative solutions to our partners and their clients.
As the market becomes more competitive and dynamic, we expect OEMs to extend greater collaboration through:
Joint marketing initiatives, such as expos and promotional events, to enhance brand visibility and customer engagement.
Improved support in deal closures, ensuring competitive pricing and strategic alignment with customer needs.
Continued investment in training and enablement, helping our team and partners stay ahead of industry trends.
By fostering stronger alliances, we can ensure mutual growth and a higher return on investment for all stakeholders.
𝐒𝐭𝐚𝐲 𝐢𝐧𝐟𝐨𝐫𝐦𝐞𝐝 𝐰𝐢𝐭𝐡 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐛𝐲 𝐣𝐨𝐢𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 WhatsApp Channel now! 👈📲
𝑭𝒐𝒍𝒍𝒐𝒘 𝑶𝒖𝒓 𝑺𝒐𝒄𝒊𝒂𝒍 𝑴𝒆𝒅𝒊𝒂 𝑷𝒂𝒈𝒆𝐬 👉 Facebook, LinkedIn, Twitter, Instagram
