Dr. Ram Ramdas, Chief Evangelist
“Herald Logic was born to challenge the status quo and usher in Tech-Yes-Logy,” says Dr. Ram Ramdas, Chief Evangelist, Herald Logic and a PhD in Math. “We therefore, built IntelliRADAR as a rapid development, deployment platform based on configuration, rather than conventional coding,” adds Anusha Jathanna, an Engineer and now, Platform Head.
Herald Logic was born in 2002, incubated in the prestigious Indian Institute of Technology, Mumbai. After a decade-long journey of deployments across a wide variety of extremely complex use cases-marine insurance pricing, supply & logistics chain management, oil & natural gas pricing, sales compliance for international private banking-Herald Logic made an important shift in 2013, choosing to build focused solutions in domains screaming to be technology-enabled.
First, off the blocks was a solution which helped organizations digitize sales incentive/commission payouts. “For far too long, sales compensation management has remained an onerous, manual activity restricted to a broad one-size-fits-all approach, though the very opposite is the order of the day,” says Rajesh Iyer, Chief Business Officer, and a banker with 26 years of experience. “Our solution enables organizations to administer incentive/commission schemes (cash/other rewards) at the lowest sales node level, and continually optimize them by assessing their impact. An agile, dynamic compensation framework enables them to attract, retain and grow the best talent, and makes sales compensation a strategy-enabler, optimizing ongoing ROI,” says Iyer.
Herald Logic beefed up their solution by hosting it on the Amazon AWS Virtual Private Cloud (VPC) to enable seamless deliverance, and adopting an unconventional ‘managed service’ (end-to-end service delivery) business model making it easier for organizations to embrace it, through a ‘no capex, pay as you go’ pricing structure. Urged by clients, they extended their solution to cover sales performance management as well. “Our subscription-based delivery model is in sync with our philosophy to think unconventionally. We free clients from the tyranny of change requests facilitating easier adoption through a combination of impact & affordability,” says Ram.
Encouraged by its success, Herald Logic has recently launched a digital loan processing hub solution as a separate fintech company
“Because our solution integrates seamlessly with the existing client ecosystem–ERP, HRMS, Ledger, CRM, core business systems etc. and receives/shares data easily, there is no disruption during, or after implementation,” says Anusha.
The complex BFSI realm was their first port of call- Herald Logic now counts big names across banking, life & general insurance, non-banking finance companies in India as its clients, currently managing sales compensation payouts of $100M across 6M transactions covering 200,000 sales entities.
Client Quote – “We have been working with Herald Logic for more than two years now. This engagement has delivered fully to our expectations. Their platform is flexible, the process is robust and adaptable and their people are committed to our success. They have provided me confidence that we can scale our process without risks or proportionate increase in our costs”–Suresh Therakam, AGM & Head Distribution Operations, L&T General Insurance.
Encouraged by its success, Herald Logic has recently launched a digital loan processing hub solution as a separate fintech company. It also launched its 2nd product - a Loan Origination Aggregation Assessment & Decision System (LOADS) under a new fintech spin-off, WonderLend Hubs - last year, which helps lending organizations source, aggregate related data, assess and decision retail & small biz loan applications on a real-time basis.
“We loved it when a client recently described us as the ‘affordable best’,” says Ramdas, as Iyer and Anusha nod in unison.