Please introduce your company and give a brief about your role within the company?
Neebal Technologies is a leading IT services company founded in 2012 with a precise aim to help clients in “making possibilities real,” even if it means building the right technology solution from scratch. Over the years, we have grown in strength and expanded our Global operations in 3 countries and have 350+ enterprise projects delivered across 10+ countries.
As Co-Founder & CEO of Neebal Technologies, my role is to put together a strategic roadmap in place that optimizes our business processes, brings innovation, and help our customers achieve desired business goals. We continue to be guided by our mission to empower our customers with IT solutions that transform their business to achieve 10x Growth. Our services have enabled small and medium enterprises to improve productivity and have also helped fortune 500 companies businesses enhance their competitiveness.
With ISO 9001 (Quality Management System), ISO 27001 (Comprehensive Security Management), we are certified for our best practices followed that ensure Project Quality & Data Security for our customers, adding value to their Business.
How does your company differentiate itself from the competition?
As a company, we believe in solving customers business problems with technology. To serve our customers better and indirectly gain an edge over competitors, we have introduced niche IT services like 911 service, Lost in the woods and The Sounding Board. Details are as below:-
With Neebal 911 service, we aim to swiftly answer customers tech emergencies and get them up and running in no time.
The Sounding Board:
This unique service offers our customers to spend a day with the best of the class in one room and brainstorm the challenges faced by the organization. The team listens to business problems, analyses possible solutions, designs a high-level system architecture and drafts an implementation plan.
Lost in the woods:
Has the earlier IT vendor left your project mid-way? Let us help you get back on track. Building on the existing framework, we help clients complete their stranded projects, thereby assisting them in finding a way out of this situation.
We offer a no-cost project estimation and a preliminary consultation to help clients get a realistic expectation about their requirement.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Although our prime focus is on the following industries, we do not restrict ourselves, as long as we have a unique business challenge to solve. Following are our key areas of business:-
● Health Care including Insurtech
● Life Sciences including Pharmaceuticals / Bio-Pharma / BioTech
● Agriculture / Agrotech
● BFSI / Fintech
● IT / ITES Companies
Being a customer-centric organization, we have always exceeded our customer expectations. That’s the reason, almost all the clients we worked over the years with, have given us repeat business.
Please share some of the services that you offer for which clients approach you the most for?
The most common use cases are building consumer-facing initiatives, setting up API gateway, business process automation, devops, cloud migration, and building innovative product ideas.
The most common use cases in blockchain are building an invoice discounting process, an ecosystem for multi-party collaboration and cryptocurrency exchange development. We help our customers to take their first step into the blockchain using our unique solution offering of an Identity Chain. This is the most crucial step in the blockchain journey that guarantees genuineness of the transaction on the blockchain.
Which platform do you prefer to use when developing a blockchain application? Why?
We use Hyperledger, Ethereum, & Stellar platforms for developing the blockchain application. Our proprietary Identity Chain solution uses Ethereum backend. The platform offers us the required speed, availability & ease of use for the use cases that we build.
What tech stack and tools do your developers use?
We build apps using Hyperledger Composer on Hyperledger Fabric. We have a strong team of blockchain developers writing smart contracts and building solutions using java-sdk, golang sdk.
Are open source, decentralized protocols going to be more significant than their web equivalent?
Use cases for decentralized protocols are still emerging, and few industries/business functions see a direct application of decentralized protocols. It will be of high significance when the use case contains the transfer of asset ownership, balance reconciliation, and business contracts between multiple parties.
What scalability and throughput challenges are there with blockchain? What solutions would you suggest?
Blockchain creates a hashed list of all past transactions and appends the new transaction to this list. Hashing is a compute-intensive operation, and hence the throughput decreases as the transactions grow. We recommend our customers to keep minimal identification data on the chain to reduce the size of each transaction and periodically perform shrading by using Proof of Stake(PoS) algorithm supported stack.
Will the success rate of ICOs be better or worse than tech start-ups?
ICOs are very similar to IPOs. They were born due to the huge potential of having decentralized control of a company by allocating stakes in the company based on the investment using smart contracts. The process was meant to be transparent and traceable. The misuse of ICOs, in most cases, has reduced the credibility of the process; however, it remains a powerful concept very relevant to the digital currency world.
What are the key factors that you consider before deciding the cost of a project?
The most crucial factor is the relevance of the use case with respect to the value that blockchain can bring. Apart from this other factors are:
● Is the use case implemented on a public chain or private chain?
● Does the transaction involve a transfer of ownership?
● Does the transaction involve smart contract invocations?
● How many smart contract rules are involved in the ecosystem?
● Is there a need for a non-fungible token to be created to allocate asset values?
● Are partial ownership transfers permitted?
● No of Ecosystem partners
● No of transactions each partner will generate
● Frequency of transaction generation
What kind of payment structure do you follow to bill your clients?
● We follow a purely agile development methodology and our invoices are generated after each sprint.
● We charge the first sprint amount in advance.
What is the price range (min and max) of the projects that you catered to in 2018?
The price range of the projects we catered in 2018 was:
● MIN: USD 50k
● MAX: USD 200k
Kindly share your feedback on how GoodFirms has been doing so far in increasing your visibility among potential clients.
So far we received a decent number of leads from GoodFirms. We are glad to see a consistent increase in our visibility, thanks to GoodFirms. Another excellent thing GoodFirms has given us is the accessibility to collect reviews of our clients. This exercise eventually helps us gain the confidence of our prospective clients and also enhance the trust in our company from our existing clients.