With loads of memory piled up, this is the very first time that our CEO Mr. Chandan Kumar who is also the Cofounder of Wazzeer opens up to a public platform to pen down the story behind Wazzeer - #WazzeerKaStory
Please note: The following article was originally published on https://www.linkedin.com/pulse/wazzeer-why-we-do-what-chandan-kumar/
“Why LegalTech?” is something we are often asked. After all, with a background in management and technology, this is not a field that comes naturally to you.
The truth is, we were fed up with the problems we were facing ourselves taking care of the legal, accounting and compliance matters for our venture – Castling Consulting. Things seemed far from organized and transparent, and a new surprise would come out of nowhere. This seemed to be the case with a number of entrepreneurs we knew.
Diving deeper, we realized that this was more of a problem with the way information flowed rather than the quality of professionals (at least in our case). In the absence of ‘best practices’ and a defined information sharing mechanism, the industry has been running far from its optimized efficiency.
We decided to solve this!
A different approach
Technology has been at the core of our vision for Wazzeer. However, we took a very different approach to build what we believe to be essentially a technology company. We decided not to focus on technology for some time and instead channelize our energy and resources to build capabilities and processes.
The legal, accounting and compliance industry, if we look at it, is made of people who are extremely smart and well educated. The way law works, more often than not, there is no defined process to do anything. Every professional has a different approach to every work that exists. This probably is the largest white-collared but largely unorganized sector (at least in the Indian context). The nature of laws and its interpretation offers a wide range of ways to do that work. Best-practices are rare in the industry.
We were very clear that we want Wazzeer to stand for the quality of service that we would want for ourselves. Envisioning was easy; delivering showed a whole new world of challenges J. Positive from this was, if we solved this, we would be building something we could be proud of.
We decided to focus on three strategic things:
- Getting the right professionals (Lawyers/ CAs/ CS)
Often online ventures are measured in terms of the number of brands, vendors or professionals they have on their platform. It was tempting for us to focus on getting every Lawyer, CA or CS onboard. However, stepping into the clients’ shoes made us realize that the number of professionals was nothing more than a hygiene factor. What mattered was the quality.
We focused on building a network of handpicked partners (yeah, we consider them as our partners). We have developed a selection and onboarding process, which boils down to whether we would trust the professional with our own work or not?
- Coming up with the ‘best-practices’
For the last two years, we have been focusing on defining the best way to deliver every process. Working with a wide site of work types and professionals from across the country, we have seen a range of processes first hand. We have been busy observing, asking questions and taking notes to come up with the detailed process and information needed to get every type of work done in an efficient way (and virtually, in most cases).
It has been a challenging but rewarding effort. We have observed the customer satisfaction level improving and positively impacting the repeat work from them.
- Technology and automation to enhance efficiency
With the processes defined and the best professionals doing it, our efforts have been to get the technology to support them. We have been observing every step and figuring out what is the best way to automate things without adding to the complexity.
A lot of work has been going in the background for a year now and we very recently launched a part of our platform. We are moving fast on this and adding features every week. The objective is to leverage tech automation to reduce the possibility of errors and enhance convenience.
Not to limit to just scratching the surface
Our efforts are already showing positive results for us. One of the key objectives we identified was not to limit ourselves to just the business incorporation and registrations like most of the other online players.
Leveraging our network, we have delivered work like legal support for M&A deals, funding compliances, drafting and implementing ESOP policies, FDI related compliances, legal advisory on crypto-currencies and ICOs, accounting for companies with all types of business models, RBI compliances, etc.
The journey, however, has just started. An extremely dedicated, efficient and determined team at Wazzeer is striving to change the way the industry works.
And in all this, we are guided by something we have adopted as our way of working: We do not just deliver services. We build relationships.