India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 156 Experts’ View How would you summarize your company’s journey since its inception? What are some of the most significant milestones of the company in recent years? Pitney Bowes was founded in April 1920 and is headquartered in Stamford, Connecticut. A New York Stock Exchange listed company, Pitney Bowes celebrated its 100th anniversary last year in April 2020. This was a remarkable milestone and as we enter the 101st year, Pitney Bowes continues its legacy of always innovating, adapting and striving to do better. The combination of creativity with business acumen has enabled Pitney Bowes to pioneer innovations for over one million clients through several decades, beginning with the postage meter to now pushing the boundaries of global ecommerce. Pitney Bowes has remained relevant by continuing to evolve over time built upon the ideology that doing the right thing the right way can be the centerpiece of a sustainable business model. The company has been delivering innovative products and solutions that drive commerce and has supported clients from across the globe over the past century—90 per cent of whom are on the Fortune 500 list. What solutions/products does the company provide to create value for clients? Fromthemachine age to the digital era, we have crafted state-of-the-art, data-driven solutions, which support government, ecommerce, logistics, banking and financial institutions to become more agile. Our latest technologies enable smarter citizen-centric initiatives in the areas of mailing, shipping and stamp duty revenue collection. From sending documents to freight shipping for ecommerce and logistics and stamp duty collection for state revenue departments, Pitney Bowes has simplified clients’ business processes across India. For example, our technology is helping state governments with secured and seamless revenue collection; facilitating digital reach to citizens who can pay stamp duty in a convenient, simple and highly secured manner. In India, Pitney Bowes is committed to play a pivotal role in transforming the stamp duty collection system, progressing with the Government’s “Digital India” initiative. What are some of the company’s key products and offerings? What is the company’s growth strategy over the next few years? The growing ecommerce market in India represents a rapidly expanding opportunity for Pitney Bowes. We have implemented parcel management solutions integrated with volumetric weighing capabilities and conveyor solutions for various Postal organizations and ecommerce giants in the Indian subcontinent. Another key area for us is around leveraging our leadership in secured evidencing solutions and implementing the technology so our state governments can simplify stamp duty collection. We launched the B700 Version 2 tax meter, a digital stamp duty collection solution to help state governments on their digital transformation path enabling safe, secure and future-ready revenue collections. The solution helps in managing the inventory, logistics and cost for issuing and printing stamp papers. The technology can be even implemented in rural regions where there might be connectivity issues. A pre-paid mechanism with the ability to load additional funds from the treasury deposit makes it more seamless for banks, stamp vendors and other financial institutions like Non-Banking Financial Companies (NBFCs), Microfinance companies, to print stamp papers. This simplifies the revenue collection process for the organisation and avoids the difficult process of reconciliation for the state revenue departments. Throughout the pandemic, our clients’ needs have been changing and they continue to evolve. The trends we are seeing are pointing towards increased digitization of business processes, and we expect that ecommerce and digital transformation will become more important. PITNEY BOWES INDIA PRIVATE LIMITED Venkat Rao Vice President & Country Head, Sending Technology Solutions, India & ASEAN Dun & Bradstreet