Tarnea has helped retailers to Go-Digital: Suresh Satyamurthy, Tarnea

Tarnea has helped retailers to Go-Digital: Suresh Satyamurthy, Tarnea

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Tarnea is present in over 100 towns across Andhra Pradesh, Telangana and Tamil Nadu

Tarnea, a cloud centric digital technology company, introduced conventional retailers to the digital possibilities that helped them to have a control and check of the inventories and, in turn, improve sales. What started as a problem for one of the co-founders in retail distribution soon turned into a tech startup that now helps brick-and-mortar” retail outlets to become fully digital with an ability to transact with customers and suppliers both online and offline.

Launched in 2011 by Suresh Satyamurthy, Madhav Sitaraman and Senthil Rajagopalan, this Bengaluru based digital tech company will soon be raising funds to further expand its reach to over 100 cities and towns across India. The company in the past 3 years has registered a customer base growth of 228% and its marquee offering ‘Tarnea SmartMile’ recorded a transaction of INR 370 crore till date.

Manish Joshi from NewsBarons provides excerpts of an interaction with Suresh Satyamurthy, CEO and Co-founder of Tarnea Technology Solutions (P) Limited, who wants to ‘Make every brick-and-mortar store Digital. Every small retailer should be able to sell like Amazon and buy like Walmart’.

NB: Tell us about Tarnea?

Suresh: Tarnea is a cloud centric digital technology company that is providing cloud centric digital solutions to conventional retailers who wish to have real time control over their business. We have a B2B platform for retailers and a Business Intelligence and Data analytics app:

Tarnea SmartMile™ is a B2B platform for the retail industry and has, currently, been implemented for the pharmaceutical industry.

Tarnea SmartMile™ allows every small retailer to – “sell like an Amazon and buy like a Walmart. Both these companies allow their data to drive better decisions, customer engagement and sourcing the best deals from suppliers. Tarnea SmartMile equips them with digital technology to do the same.

Eagle-eye is a Business Intelligence and Data Analytics mobile app exclusively for Tarnea enabled Digital pharmacy owners to have real time control and visibility of their business remotely. Tarnea EagleEye gives a clear snapshot of all business aspects such as sales, purchase, customer engagement, etc. by the minute and hence, the ability to be anywhere-anytime and still have full control.

Small retailers have two unique advantages – Local Availability and Human Touch. Both of these advantages cannot be easily supplanted by online retailers. All they lack is digital enablement. Tarnea has helped hundreds of retailers to Go-Digital.

 

NB: You had launched a ‘Go Digital’ programme. Brief us about it?

Suresh: The Go-Digital program was an initiative to help “brick-and- mortar” pharmacies to go digital by implementing the Tarnea SmartMile™ platform.

The biggest and the best online and brick and mortar retailers use the power of analytics to run their business successfully. A smaller pharmacy too can have access to the same technology at an affordable price that can be achieved using Digital technology and Business Intelligence tools.

After a pharmacy is transformed into a Digital pharmacy it will have,

  • It’s own online presence and can serve customers through an own mobile app
  • Patients and suppliers will be able to transact and collaborate in real-time on a 24×7 basis.
  • The digital ecosystem will ensure that no pharmacy ever runs out of essential medicines and patients are assured
    the availability of medicines at all times.
  • Retailers will be able to run their own loyalty programs and be able to use the power of their data to use
    advanced analytics.
Categories of retailers that use Tarnea SmartMile:

  • High street pharmacies (40% are 24×7)
  • Doctor’s clinic attached pharmacies
  • Hospital pharmacies
  • Independent Chain pharmacies

 

NB: Is tier II & III also a strong market for your platform?

Suresh: We are present in over 100 towns across Andhra Pradesh, Telangana and Tamil Nadu. Internet penetration is quite
strong in these towns and people are in sync with the Digital India mission. In FY 2017-18, we have recorded a growth of 250% in our customer base.

NB: What is your revenue model?

Suresh: We are a pioneer in introducing Subscription based model to pharma retailers in India. It is based on ongoing subscription. This is the best model for the retailers as it ensures that the retailers continue to get the best possible service on an ongoing basis.

In the older model of licensee fees, the software vendor charges a large upfront fee and has very little obligation to continuously provide a high uptime and a good ongoing service.