SocioRAC – Company Profile
Established in 2017, SocioRAC (Brand) is a technology startup working in the area of Information Management. SocioRAC aims to generate 2.5 billion man-hours of additional productive time by 2025 thus leveraging digital technology to help enterprises to manage their digital data overload. Based in Vadodara, SocioRAC is building tech products & solutions catering to enterprises that plan to increase productivity, manage businesses, increase collaboration, save money & time.
The company is the brainchild of Rajat Singhania who is an alumnus of St. Columba’s School, Delhi and Shri Ram College of Commerce (SRCC) with more than 30 years of working in the areas of technology.
Today, the enterprises face myriad of challenges in keeping business relevant information in different places which is a nightmare to manage, access and be available to make use of. While most businesses have a desire for data-driven insight, but data management is often fragmented and driven by multiple stakeholders. This leaves organizations dealing with a high degree of inaccurate and disparate data and there are a number of challenges to maintaining it.
With the market size estimated to reach $26.4 billion by 2025, after growing at a CAGR of 18% during 2020-2025, Enterprise data management in India is one of the fastest growing verticals. The major reason is due to the high-level expertise in the cloud deployment & increased investment to boost the IT sector. Moreover, with the total market potential of more than $100 billion, SocioRAC is developing information management system where they can create, process, organize, and distribute information for their stakeholders’ consumption. Be it a large-sized organization or a freelancer, the emphasis is always on a system that allows easy information management.
The startup has built its first tech product HyLyt app which is unified information management and business collaboration on a single platform. It is a ‘Digital India Initiative’ developed by SocioRAC that helps in effective management by allotting productive hours for handling multiple tasks on a priority basis.
HyLyt app is a mobile first environment to manage data for personal & business needs. One can save tasks using its’ ‘instant note taking’ feature. One can save and send messages using any social media app on the device. HyLyt app is available in Mobile & Desktop version. The personal version is free & the business version is charged at an affordable cost of Rs.4000/- per user.
How the HyLyt App works?
HyLyt is a one-click solution for all the multi-taskers which is designed to save content in a simple, structured and secured way. With the help of HyLyt, one can save productive hours, which are wasted daily in browsing, gathering, storing. This app provides a solution for different people as it acts as a single source for storing entire data in a highly protected way.
HyLyt provides enhanced security for information so business can secure the organization data by maintaining 2-level security. It also allows the user to lock the folders for data privacy. HyLyt ensures that the information is under high security with end-to-end 256-bit encryption. It offers the employees the freedom to manage personal and professional data on the same system. This improves work productivity as it will be easier for the employees for their work schedules. It also has a pass code + Finger print to lock individual folders for privacy.
Another highlight is that it has the required space for saving all business-related works and files. It also helps in avoiding duplicate data & provides a single-click content broadcast to all users, thus saving the time of team leads and HR Managers from sending one-to-one messages to the employees.
- Video Conference – This is a newly added feature introduced recently that helps in using amongst up to 100 users.
- Dashboard features – HyLyt has a dashboard feature on its backend. It allows users to make different departmental groups where each team member can converse and submit its work.
- Watchdog feature – Watchdog” feature from HyLyt allows top-level management to keep an eye on select departments and the work is done and take necessary actions to increase productivity and improve work efficiency.
- Alerts and notifications – Reminders are designed to engage employees by assisting them in carrying out important work.
- It has notes, reminder, team, calendar sections so one can notes that you select & copy at one place without hassles.
- Save data with “Bottom Manager” or “Bubble” directly from external apps.
- Automatic backup to the cloud server to prevent data loss.
- Manage content in all formats (text, files, audio & video) in folders at one place.
- Content management and messaging integration – Whiteboard option for collaborative working Control.
Presently, SocioRAC is bootstrapped but plans to raise money this year. They are planning to scale this year with existing team of 12 people with a plan to target recruitment & hiring firms for our product spread.
About Rajat Singhania Founder SocioRAC
Rajat attended school at the St. Columba’s School, Delhi, and secured his Bachelor of Commerce degree from Shri Ram College of Commerce (SRCC), Delhi. He started using computers in 1984 while attending school; he learnt programming, made an accounting program, and won an award from his school for that. He has garnered more than 30 years of experience in setting up, expanding, and running multiple family-owned businesses and 35 years’ experience in the computer industry.
In his professional career, Rajat has created a b2b network of more than 300 sale points in the infrastructure vertical generating revenue of more than $20 million per year over the last 15 years giving him extensive experience in managing a retail network of people at the ground level who may not be very educated. He has managed a team of more than 55 professionals, providing medical/legal and general transcription services to various clients in the United States, Canada, and Australia saving valuable time and money.
Lastly, he has also managed a team of coders and developers to create software solutions and mobile apps for his clients in the United States and India. In his latest business venture, he is launching his own mobile app termed “HyLyt” by SocioRAC – a patent pending Secured b2b SAAS solution to help you converse and collaborate with controls to enhance productivity for your remote teams across multiple apps and data silos, giving you a Unified Information management and collaboration platform.
On the personal front, Rajat is fond of technology, music, and travelling. He enjoys seeing nature in all its natural beauty and finding solutions to everyday problems using technology with out-of-the box thinking. He has given motivational and mentorship talks for IIT Mumbai at Parul University, for a joint program of Nasscom and Devang Mehta Foundation at MS University, Vadodara, for TiE Ahmedabad at Parul university, for BMA (Baroda Management Association) and multiple talk on
technology related topics and mentoring for students. He likes to meet and network with people and is associated with various business and service organizations. He is an integral part of the SRCC alumni, Business Network International (BNI), Vadodara Marathon (VM), Federation of Gujarat Industries (FGI), Gujarat Electronics & Software Industries Association (GESIA), NASSCOM and The Indus Entrepreneurs (TiE), Silicon Valley, Delhi and Ahmedabad.
Rajat joins us to share his entrepreneurial journey from start till date and the challenges he faced during Covid era.
Edited excerpts from the interview:
Q1. Tell us about yourself & your company SocioRAC?
Ans. I have been in business for 30 years with experience in different verticals. I have experience in the tech space for 35 years and done coding back in the day when the coding languages were BASIC, COBOL & DBase3. In terms of business experience in tech space; I’ve run a BPO for more than 20 years and have experience in the infrastructure space for more than 25 years.
Managing time and information are the 2 biggest challenges plaguing mankind today. They transcend all boundaries of ethnicity, economic status, country, profession, business vertical, vocation etc. Time lost can never be regained and information is said to be the new Gold. Efficient and meticulous management of these can bring exponential growth to any business. Today’s information workers wage a losing battle against information overload. Not only is most of the information they receive useless, but managing the part that is useful is inefficient. In fact, research shows that they spend 25% of their entire work time searching, saving and managing the information they own. Accessing information held by co-workers is even harder. Did you know over 70% of departing employees admit to taking the Company’s data? HyLyt, a single point integrated solution has the simplicity, power and ability to help you solve this. Complete control over all your information that matters! Needless to say, this would save you a huge amount of time and result in better decisions/ revenue too! A more organized, efficient and productive world is a much better World on multiple counts, is it not?
Q2. How are you performing currently?
Ans. The pandemic has reinforced the need for a product like HyLyt. This has led to the growth of knowledge management. One of our biggest challenges is to create awareness about the existence of our product, a solution for a problem they are dealing with. Our user base has been increasing at a good percentage and presently we are working on keeping up with all the requests.
Q3. How does your product stand different from others in the market?
Ans. There are many similar products like ours but with some differences. HyLyt is the only product that offers a complete 360 degree solution for information management in the market. Wegive users a unified information management platform with innovative ways to integrate, manageand control leakage of information. A single place to save, manage and interlink all your information from different products at one place and alsocontrol the information rights management.
Q4. Where are your start-up services spread?
Ans. We have a good presence in India and plan to expand in the USA/ Singapore and after that maybe in UAE & EU also.
Q5. The pandemic has affected industries across the globe. What has been the challenges you faced a technopreneur? How did you overcome those challenges?
Ans. Corona is an interesting change for us. On one hand, it is the biggest advertising and marketing tool for us because it created the demand and situation where work from home or remote working has become really big, the accepted norm. People working from home need HyLyt because HyLyt is the easiest and needed solution for people working from home. It has kind of built up the potential and future of our product, but the challenge is to get the word out there. People need to work from home, and all the problems they are facing can be significantly mitigated and they can be in a better and stronger spot once they/ their businesses migrate to use HyLyt as the primary option for information management.
Interestingly, we are solving a problem which everybody faces but they do not realize there is a solution, they have accepted it as a part of their being. So, if you ask me what the biggest challenge is – telling people we know you are facing this problem and we actually have the solution to solve it. To get the word out there, tell people that we have a solution to this problem, make them aware of it, make them believe in it and make them use it. Once they use it, they become our users and they don’t go away but till then that is a challenge.
Q6. Tell me about the most difficult technical challenge you’ve encountered and how you resolved it.?
Ans. Developing a patent pending tech product, there is a new challenge to solve every day, that is a part and parcel of innovation, to create something new and different from the current and existing solutions. The list of challenges has been a long one, I will talk about a few of them here which we have solved. The biggest challenge was uniformity in the product, whether it was cross platform or cross functions. We had to spend a lot of time and effort to give a universal user look, feel and experience across Android, iOS, Web, Mobile, Tablet and PCs. Not only this, being an integrated platform with multiple functions, we have kept the interface the same whether user is making notes, managing files, chatting, setting up reminders or calendars. There were many other challenges like giving users an easy way to save any information from unlimited places onto HyLyt, giving the ability to interlink all the different categories of data and controlling whether users can edit, re-share and forward this to others or not. Each of this was a new challenge for us and we had to do all this keeping the uniformity intact.
Connect with him on LinkedIn: https://www.linkedin.com/in/rajat-singhania-82a