We recently interviewed Parag Mamnani, CEO and Founder of Webgility, Inc., about the key to business growth, industry trends, and more. Webgility is a leading provider of eCommerce integration software.
What tips do you have for other businesses in your industry?
Start with the customer, everything else comes after. Whether you’re designing a product, figuring out pricing, thinking about sales (or any other area of business), start by thinking about customer experience and expectations. This focus has helped us streamline our work. It also serves as a litmus test – we know we’ve made the wrong decision if we’ve failed to provide a fantastic customer experience.
What is your secret sauce for growth?
Our growth is fueled by our focus and data-driven approach. We’re focused on SMBs who need help automating their accounting. We’ve built a comprehensive integration between our product and our customers’ online stores, and we’re constantly using customer feedback to improve our product.
In your view, what are the 3 key drivers you need to win new customers?
- User experience – make your product simple and easy to use.
- Value – show customers the true benefit of your product.
- Customer service – listen and respond promptly to customer requests.
What are the most common or challenging compliance issues your customers deal with?
Accounting reconciliation and tax compliance are the most common issues faced by our customers.
What new business models do you see emerging in the accounting, finance and compliance industry?
Software-as-a-Service and Platform-as-a-service. There is an explosion of cloud apps and APIs. Webgility launched our PaaS recently (http://developer.webgility.com) to help developers integrate their application with any accounting system. We’re seeing strong adoption for this offering.
Where do you see the accounting and finance industry in 5 years?
In the coming years, I see SMBs using a number of best-of-breed niche cloud applications to run their business (CRM, HR, payroll, banking, etc.). Businesses will glue these applications together with their cloud accounting system using integration platforms like Webgility.
What’s the funniest thing you’ve heard in the past week?
In honor of the great Robin Williams:
“What’s right is what’s left if you do everything else wrong.”
“I’m sorry, if you were right I’d agree with you.”
“Why do they call it rush hour when nothing moves.”