The Million Dollar Club: InSync

Atul Gupta first began his entrepreneurial ventures in 2003 with an IT provider based in Bhutan, India. His drive to provide software solutions to local small businesses resulted in a move to Kolkata in 2006, where he founded InSync. Over the next three years the company conducted extensive research through their more than 500 domestic customers. Atul noted that once a business reached a certain volume, customers could no longer manage an e-commerce business without an integrated ERP system.

InSync responded to Atul’s findings by shifting focus from services to product. Customer feedback indicated that integration was a viable market, and the company released their flagship product, SBOeConnect, in 2009. SBOeConnect expands InSync’s business to a global focus, helping e-commerce merchants worldwide increase efficiency by integrating Magento and SAP Business One into a single all-purpose solution. The connecter provides a secure exchange of data between e-commerce and the ERP system through more than 60 integration points.

After establishing an initial partnership with SAP, an agreement was reached allowing InSync to resell the product as part of an integrated solution. The company published their first success story shortly thereafter. Today, SBOeConnect remains highly competitive against companies like zedSuite, eBridge Connections and Orbis Software in number of integration points, sync, and total cost.

To date, SBOeConnect has serviced over 80 paying Magento merchants. A typical product implementation is $7,400 plus an annual maintenance fee of $900, subject to variation based upon chosen bundled services. Through SBOeConnect, this bootstrapped company generates an average of two new leads per day, and revenue already exceeds $500,000.

In 2013, the Million Dollar Club is well within reach.

Coverage:
The 1M/1M Incubation Radar 2012: InSync, Kolkata, India
Entrepreneurship Bubbles in Bengal, India
The Million Dollar Club
Looking to Grow From $500k to $1M in 2013

This segment is a part in the series : The Million Dollar Club