How Entrepreneur Tej Kohli Plans to Transform the E-Commerce World
Posted by Guest Author on February 7, 2014 in Marketing, Sales 2.0 [ 0 Comments ]
Known around the world for his philanthropy, business acumen, and entrepreneurial spirit, Tej Kohli is a Renaissance man for the post-modern era. With his hand in real estate, technology, and online shopping, Kohli uses venture capital to invest in products, processes, and places where he sees the potential for tremendous growth. Continue reading to discover the plans Tej Kohli has to bring dramatic change to the world of e-commerce.
A Strong Foundation
Kohli’s vision for revolutionizing e-commerce is rooted in his company, Grafix Softech. Kohli and his cousin partnered to create this enterprise in India in 1998. By using keen observations of trends and anticipatory strategies in product development, Kohli grew the company into a global leader in the high tech industry with more than 500 employees.
Now located in Costa Rica with offices in other countries, Grafix Softech is a privately held company that offers a range of e-commerce products to improve the business-to-customer relationship. Each year, the company does hundreds of millions of dollars in business, meaning it has the capital to continue innovating.
Innovations for Accepting Payment
According to the International Telecommunications Union, mobile phone penetration has exceeded 100 percent in four of the six regions in the world. Researchers expect the number of subscriptions for cellular service to reach and possible surpass seven billion in 2014. This trend means more people access the Internet through mobile devices. In the early days of this transition to mobile web access, Tej Kohli and his company began working on new turnkey payment solutions, realizing more people will shop from their mobile phones, while businesses need a way to use mobile devices to process payments from customers.
The Grafix Softech team, under Kohli’s leadership, has developed a wide range of products that let businesses accept payment transactions and process them safely and smoothly from mobile devices. In essence, the goal is to make a cell phone a payment tool. This means businesses have the ability to take payment from customers at a street festival, on the beach, and in a storefront without broadband.
Think about how this revolutionizes commerce in developing countries with emerging economies where accepting credit card payment was possible only for the largest and most affluent businesses.
This technology enables companies, merchants, and individual proprietors to take credit cards for small purchases, especially impulse buys. In an increasingly cashless society, this capability has a positive impact on businesses across markets and regions.
The Evolving Approach to Mobile Payment Systems
According to information from the Federal Reserve Bank of Boston, mobile payment often begins through SMS, over a browser, app, QR code, or cloud technology. The sources of the money for these transitions include bank accounts, credit cards, and prepaid cards, though funds may or may not pass through traditional banks. In some cases, third parties such as PayPal, Google, and other companies handle the transactions, forming the bridge that gets money from the consumer to the business.
The Federal Reserve shows mobile payments take place in a landscape that’s varied and evolving. All these factors point to the need for companies to work with mobile Internet consulting experts who can guide them. By offering reliable, informed advice and strategy development, Tej Kohli is changing the role of technology companies that help businesses process payments. Rather than just selling a software package or cloud solution, his company gives clients both consultant services and actual products.
Promoting Mobile Internet Consulting
As mobile access to the Internet continues to grow alongside the penetration of cell phones, Tej Kohli encourages businesses to capitalize on this trend. Through mobile Internet consulting, Kohli and his company help clients integrate wireless capabilities into their strategic plan. Among the services available are analysis of business impact, planning, market research, and concept design. No business is too small to use these tools and see growth in profits through reaching new customers and making transactions easier for existing customers.
While some businesses may think they can navigate the technological changes and trends themselves, the chances of success are low. Instead, they need to partner with a company such as Grafix Softech that’s involved in creating and integrating mobile payment solutions into businesses as the wireless payment landscape changes. Tej Kohli reminds business leaders that those who waited to capture the e-commerce opportunities put themselves at a distinct disadvantage as competitors seized on the chance to build profitable online shopping hubs. In the same way, those who don’t get on board with the mobile Internet revolution will get left behind.
While different mobile payment platforms offer their own benefits, Tej Kohli plans to transform the e-commerce world with his system that encompasses all the features merchants and customers want. The service is comprehensive and customizable with 24/7 support available. Setting up the system requires minimal time, and it’s a straightforward process. Measures to reduce the chances of fraud and hacking are available with custom protections for different industries. Funds sent and received across this system, which doesn’t experience down time, is secure, a key factor for businesses and their customers.
Because of the work done on the backend of the Grafix Softech products, merchants and their clients have a user-friendly experience. Making payment and receiving it are simple, quick processes.
A Vision for the Future
Besides being able to handle payments by all major electronic means, merchants who work with Tej Kohli and his company benefit from marketing tools and analysis. The products that help companies process payments smoothly also make it possible to monitor and assess performance with the goal of increasing sales in the coming months and years. Kohli’s vision to help vendors use mobile payment data to identify and track trends takes e-commerce beyond a one-time transaction. It becomes an invaluable tool for growing a company’s bottom line.
In conclusion, Tej Kohli has an all-encompassing view of making mobile payments easy for consumers, affordable for companies, and useful as a source of data for marketing and business planning. What innovations in e-commerce do you want to see from Kohli and his team at Grafix Softech?
(Image via Flickr by Rosenfeld Media)