Sanjay D Shah Addresses. Employees at Vistex, Inc. rate Sanjay Shah higher than employees at Innovative Interfaces rate James Tallman That was a very marketable resource. Hello everyone and welcome to the, show. Sanjay Shah: Thank you. Sanjay Shah: Im happy to say that over the past 20 years of our existence, weve always grown every single year despite having been through two recessions. : The future is theres more of everything. Then to ensure that they continue to receive value as they expand their portfolio of products. One is I think I have learned to be a better listener. Sanjay Shah left SAP to establish an entirely new category of enterprise software known as Go-to-Market programs designed to help businesses solve complex business problems. Especially, the larger the organization that you sell to, the more durable and the more persistent you need to be. They were engineers. The Founder, CEO and Chief Architect of enterprise software company Vistex, Sanjay Shah is a global businessman who has bootstrapped the company from its conception to its current role as a vital partner to worldwide titans like Apple, Walmart, 3M, Turner, Dell and Bayer. I think that has been a bit of a challenge for us having built a business on licensing software and all the follow-on revenue that comes as a result of that has been a bit of a bump for us. Sanjay Shah, founder and CEO of Vistex, is photographed Dec. 8, 2014 in the penthouse atop the Trump International Hotel and Tower he owns. Alejandro: And in terms of enterprise sales, Sanjay, that you were eluding to, what are your biggest takeaways from enterprise sales because its a beast. : Thats right. Who are you going to accept (as customers)? Shah noted that only a handful of SAP's 20,000 partners achieve Solution Extensions status. Alejandro: You brought this up to 250 million in revenue without taking any type of investors. : I think in 2001, I was able to land our first customers. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at [emailprotected]. The average being 2 1/2. I also spent time working for SAP at their headquarters in Germany in R&D for a couple of years of my six-year journey with them. He funnelled his wealth into property across London, Hong Kong, Dubai and Tokyo, Shah said, amassing a portfolio that he put at about 70 million pounds. Sanjay Shah (born September 11, 1970 in London) is a Dubai-based British businessman. Punjab National Bank. You know, sometimes you discover your true passion, and you don't always realize it and recognize it, but something hits you when it does happen. But I quickly realized that confidence is good; over-confidence is not so good. Thats right. So General Motors in Canada was willing to wager a bet on me. The average being 2 1/2. There are many paths to progress and success. Sanjay brings a high level of passion, energy and skills to address complex business processes for global organizations. Sep 28, 2020 On June 26, 2012, Trumps sons Donald Jr and Eric were in the Philippines for the groundbreaking of the 150-million (P6.33 billion in 2012) Trump Tower Philippines, a 56-story residential building.. the trump tower is owned by Donald Trump hes a VERY rich dude hes old too Is Liam charmer a billionaire Yes he is and now he is a multi - billionaire. I was an SAP loyalist. I think sometimes, even when entrepreneurs reach a certain level of success, they feel that theyve mastered their domain, or they know what they need to do. Oh, he went to Lehigh.. Q: Why would you spend so much money on a penthouse? : It got me a chance to be on the shop floor and to see how things are built and put together. As I have grown both personally and professionally, there are a couple of important lessons. That really has helped us grow because we started out with SAP North America first. Q: When you bought the property, you said the build-out will take a year to 18 months and cost about $15 million. I believe that if anything, you should know that you should always learn to learn. I think the industry pivoted that way about somewhere between planning on your perspective five to seven years ago, and the entire industry has pivoted toward Software as a Service. I think weve just begun to scratch the surface of how our products and solutions can help customers and help our customers succeed even more. They decided to hire me, but they said, The only position we have open for you in Operations is in Canada. I said, Ill take it.. In total, he gets Rs 84.5 thousand per month.) I thought, Wow. In 2019, Sanjay Shah led Vistex to accelerated growth opportunities with its first minority equity investment from Silicon Valley-based Accel-KKR (AKKR), infusing up to $105 million to fuel the companys continued dominance. : What have I learned about myself? Sanjay Shah is an avid licensed pilot, is multi-lingual and holds multiple professional certifications and degrees. : Got it. For Sanjay Shah, who made headlines for buying the Trump Tower penthouse in a record deal in Chicago in 2014, life has come a full circle. I was fascinated and intrigued by the software. It was a German software company that had been around for 20 years already by the time they came to North America. (Kejriwal's basic salary is Rs 32500. We've always had a few ideas about what we want to do with the space, but we never really started anything in earnest. We go in as explorers, not as conquerors because we know that the right kind of input is very critical to the engineering of a product. See How I Can Help You With Your Fundraising Efforts. Denmark's tax authority has won its appeal in the UK courts over an alleged 1.5 billion ($2 billion) fraud by Dubai hedge fund trader Sanjay Shah and scores of others. An entrepreneur cant say, Yeah, Im also on a double-duty and be able to sell into the enterprise. Alejandro: Of course. We dont have venture funding or angel funding to go launch ourselves in a big fashion to let the world know that were out there. The interview has been edited for length and clarity. Dipen Shah Rajesh Chaganti #Vistex #SAP #Agro Liked by Dipen Shah https://lnkd.in/d4m_Ui2N Very proud of my wife Gayatri Raman, helping take Clearwater Analytics public. Just navigating the politics and creating and developing the value, etc. : All right, Sanjay. Sanjay Shah saw a void in the ERP market. : Thats a good question. I think getting the firsthand experience was critical. We go in as explorers, not as conquerors because we know that the right kind of input is very critical to the engineering of a product. Alejandro: And you went to Canada. I love Chicago and this property provided me the vantage point to take in the city. Tell us, after this presentation then you speak with your wife or with your family, and you still have to think about the idea of going at it. Founder and President at Vistex, Inc. Hoffman Estates, Illinois . A: Yes, but Chicago is my favorite city in the world and it will always be. I was enamored with him and was like, I wonder where he went to school? : Sanjay, what is the way that you guys make money with this? We have a relatively flat organization. They would help us build and scale our cloud business and yet be comfortable being a minority investor. Theres always a question that I ask the guests that we have on the show, and that is knowing what you know now if you had the opportunity to go back and give yourself a piece of advice, to that younger Sanjay that is about to launch the business, what would that piece of advice be before launching a business and why? Enterprise sales require a lot of persistence and a lot of fortitude to stay in the race for the longer term. Vistex is the established industry leader with nearly $250 million in revenue in 2018, and despite two recessions, has expanded its operations globally and its portfolio across 14 industries. The companies'. Tell us about this. We were able to get into new industries and even upsell to our existing customers. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. We have people all over the globe, Vistex employs all over the globe and selling in virtually every geography. : Yeah. People used to have only accounting software back then, but MRP was the first-ever software that was used by large companies. And you need professional sales help. But there was fun in that challenge as well. Fortunately, I had a view from the inside as well, having been one of the earliest employees of SAP. : Correct. Were going to be learning a lot about building, scaling companies, and also about financing and then venture capitalist versus private equity firms, and also about building super-strategic relationships with larger players. : I was living in a form of a bubble. Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. The movie won six Filmfare Awards and was critically acclaimed at the Austin . We dont have venture funding or angel funding to go launch ourselves in a big fashion to let the world know that were out there. Alejandro: Sanjay, in terms of the early employees that you got, those were engineers, or what were some of these people because you were saying that this was . All of my family and extended family lived in a one-mile radius. There are so many different stakeholders. Then there is annual maintenance tied with it. It happens to be associated with the president now it wasnt planned that way, but that doesnt change my mind about finishing the place or eventually spending more time there. Sanjay Shah: Of course, at General Motors, we were one of the first companies to use whats called MRP, material requirements planning. Thats how I was able to bootstrap. In 2012, Donald Trump opened a twin tower structure in Turkey under the brand name Trump Towers Istanbul. : Very cool. We want more growth, more customers, a larger solution footprint. I was one of the spearheads of that. They want to outsource everything and just consume a service. Software maker Vistex announced it has raised $65 million in funding from Accel-KKR, a private equity firm based in Silicon Valley. Alejandro: What was your biggest learning or lesson from working with them? Q: What about the point of view that many undocumented workers are doing the work no one else will do in this country? That has been the biggest bump. But you should seek input and feedback from everybody. : Why did you go about bootstrapping rather than perhaps taking a look at financing the operation? Sanjay Shah's Gift Combines Vision and Execution. Sanjay Shah: Yeah, exactly. Its long. So walk us through the process of how you came up with this idea, and how did you incubate it all the way to fruition? Youve been with SAP for six years. So our focus is, how can we help our customers succeed even more with our products and offerings? Chicago filmmaker Jennifer Reeder looks at the awards season nominees so far where did all the women go? According to a media portal, the net worth of Boney Kapoor is Rs 153.34 crores. Anything you wanted. Indeed. As a business owner that helps you, serves you, and it never hurts to be fluent with numbers. Thats quite a significant amount of employees. Lets just say that. [Laughter] Be a good listener. It was a German software company that had been around for 20 years already by the time they came to North America. Vistex.com specialises in information technology and services, computer software. We found a great partner in Excel KPR. And in general, when youre bootstrapped, youre going to be very stingy with your marketing budgets and your sales budgets. Overview Company Overview Top Contacts Sanjay Shah overview Vistex overview Vistex top contacts Try the contact number finder tool for free,get started in seconds No Credit Card Required : Very cool. Alejandro: Very cool. I think the industry pivoted that way about somewhere between planning on your perspective five to seven years ago, and the entire industry has pivoted toward Software as a Service. You hear all these nightmare stories of startups that are doing very well, but theyre not able to project or manage the cash flows and their budgets accordingly. I was able to sell my services and sell my time. Sanjay Shah is the founder and CEO of Vistex which is an enterprise software company, providing solutions to drive customer growth and partner relations. This is pretty cool. Thats how I ended up working for them. Listen to what everybody has to say. So those are the challenges. According to Dubai Police, British national Shah was arrested in. What kind of teams do you need? We license our software. Today, we have someone that has done something remarkable, which is bootstrapping from nothing to 250 million. Of course, thats important because it establishes a benchmark of sorts, but also to provide us with the expertise that we need. Are you on Twitter or any other platforms? : You scaled this up to 250 million before you accepted external financing, so how was that process? Would you mind expanding a bit more on that, Sanjay? We felt that we needed to bring in some external expertise to help us grow the subscription part of our business. Thats what helped us make the call with the partner we chose. So again, working with SAP, such a gigantic organization has its set of challenges, and there have been several lessons learned. You need a lot of focus and dedication and a lot of persistence. Going back to what you were saying that you were bootstrapping this and doing a couple more shifts that you used to do, at what point do you say, Now, I can finally jump on this fulltime? Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. What type of product features and functions do you need in order to be successful in the Cloud? Alejandro: Why did you decide to all of a sudden bring outsiders into the mix? Most high-end penthouses in large cities tend to be multiple stories. Sanjay Shah of Vistex Inc at SAPPHIRE 2012 - YouTube For more information about upcoming events, click here: http://www.vistex.com/about-us/events/Vistex, an expanding company, offers. While ERPs were transforming organizations in all kinds of ways, there was still no solution for managing pricing, trade, royalties and incentive programs that so many businesses rely on to drive revenue. : Then, all of a sudden, the idea of perhaps starting your own business starts to become more tangible and have more color. Theres always some business to be had with on-prem software, but were also getting more aggressive and investing heavily to grow our business in the Cloud as they say; to sell our software as a subscription. CEO, and Chief Architect, Sanjay Shah, is the WINNER of the 2019 Ernst & Young (EY) Technology Entrepreneur of the Year Midwest Award. They might not have been born here, but they were raised here and they are very productive. Sanjay, thank you so much for being on the DealMakers show today. Thats when I decided to expand the hiring for the organization. Sanjay. : It wasnt the money or the capital. What type of selling skills do you need? Antonie Robertson / The National The National Jun 03, 2022 Listen In English Then the logical progression was to work in accounting. Sanjay Shah: I think in 2001, I was able to land our first customers. I think weve just begun to scratch the surface of how our products and solutions can help customers and help our customers succeed even more. : I think the next thing Ive learned is always to learn to learn. Get Contact Info for All Departments Vistex Org Chart Sanjay Shah Founder, Chief Executive Officer, and Chief Architect 6 6 : Why did you decide to all of a sudden bring outsiders into the mix? Sanjay Shah Founder, CEO, & Chief Architect at Vistex, Inc. Barrington Hills, Illinois, United States 500 followers 500+ connections Join to connect Vistex, Inc. Company Website Activity In. If you engineer good products and show value, then customers will come your way. Are you on Twitter or any other platforms? : We have three distinct revenue streams. Why? Why would you want to unnecessarily tinker with a program that is working so well for the country? He has founded Solo Capital, a hedge fund firm which closed in 2016, and Autism Rocks, a charitable organization that raises awareness for autism. What were the immediate steps to bring this to life? Sanjay Shah: What happened after that was because I was a very marketable resource at SAP, I helped start what is called the highest echelon of professional services at SAP. So I hired three or four resources in the year 2000. "Our relationship with . Part of the Storycuts series, this short story was originally published in the collection Little Black Book of Stories. Earlier on, I thought I knew how everything was supposed to work, and I had the recipe and the solutions to all of the companys problems. They used to call it Platinum Consulting, where we go and help troubled SAP projects across the globe. I think private equity can offer a lot of operational expertise and a lot of go-to-market expertise. : I hired people that had the technical skills to help me write the software. 00:00:00 00:37:40. Alejandro: So for the people that are listening . Its important to stay grounded and be a good listener. He was a pioneer and how he went to Congress and convinced them that they should rescue this American icon (Chrysler). Then slowly over the years expanded to other regions of the globe. As per reports from several media portals, Boney Kapoor's net worth rocketed after he produced Company, which was directed by Ram Gopal Varma in the year 2002. That helped definitely. It was the appetite for companies to spend on enterprise software, which took a nosedive in 2001, 2002 was the first challenge. What have you learned about yourself as a leader? About. Growth is hard, [laughter] to say the least. Sanjay Shah: We have a very demographic process. My first two hires are still with me and still with the company. So in having a degree in finance and having work experience in accounting is not exactly something that would draw potential employers for an operations position. I think getting the firsthand experience was critical. So something struck me and I said, Well, I cant do it here. It's very unique, not just in Chicago or in the U.S., but probably unique in the whole world in terms of how it's laid out. If you want me to help you with your fundraising, just book a call. Shah, a naturalized U.S. citizen, also has spoken out in defense of the Deferred Action for Childhood Arrivals program, or DACA, in part because a handful of his employees are immigrants living in the country illegally who were brought here as children and rely on DACA protections to remain in the U.S. Alejandro: Even though you didnt want to be a professional accountant, Im sure that having a good grasp on the numbers has made a difference for you. I guess I'm a small example of that. Listen to what everybody has to say. You spend time in classrooms learning about things, but spending time on the shop floor learning how actually products are put together, how they are transported, how the logistics work in terms of the distribution networks of large companies. I was changing my disciplines significantly. Under Sanjay's leadership, Vistex has grown into a global organization dedicated to transforming how businesses across multiple industries bring their products and services to market by taking control of mission-critical processes. How about if I move to the U.S. and develop it by myself, and if it works, you help me take it to market? So Im an entrepreneur by accident because if they had said, Yes, you can develop it even while youre in the U.S. I probably might still be with SAP. Then that gave me the funding I needed to do what I wanted to do. I think thats when I felt that we were onto something. Sanjay Shah is a tech entrepreneur, Founder, CEO & Chief Architect of Vistex, making sure it all adds up for our customers. Just navigating the politics and creating and developing the value, etc. When you continue to deliver value for your customers, then they see it. We license our software. Alejandro: Yeah. This whole Cloud Revolution, we feel that we are a bit behind in this regard in terms of being out there and being perceived more as a company that can do equally well with our cloud offerings. They try to go after high-potential, high-growth, the mature organizations, and we fit the bill on that front. I think you have to be your own advisor and your own decisionmaker. Fortunately, I had a view from the inside as well, having been one of the earliest employees of SAP. Theres not always just one decisionmaker in such a large company, especially when we rely on them as our go-to-market partner. Vistex Asia-pacific Private Limited's Corporate Identification Number is (CIN) U72900MH2003PTC142888 and its registration number is 142888.Its Email address is chirag.shah@vistex.com and its registered address is UNIT NO C R 12TH FLOORNIRMAL BLDG 241/42 BACKBAY RECLAMATION NARIMAN POINT MUMBAI MH 400021 IN . You have these ideas and visions of growth, and then there is reality unless youre exceptionally fortunate. Fast-forward to today. 1. Global titans like Apple, Walmart, 3M, Turner, Dell and Bayer rely on Vistex to manage the full life cycle of programs through strategy, software, implementation, execution and analytics. A: It's the pinnacle of all properties in Chicago. . : Yeah, exactly. A: Not yet. Theyre very skilled these days in terms of how they decide what to buy. The first type of software in supply chain that was the first of its kind back then. An Indian immigrant, Sanjay Shah bootstrap story began when he left Mumbai, India to attend Lehigh Universitys business school, earning his MBA in 1989 at the age of 21. Plus it has very high ceilings, anywhere from 16 to 21 feet. Theyve been around for many years, a very notable firm in the Valley, and a lot of successes to their name. How was life there? 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