Wadhwani Advantage, an Initiative of Wadhwani Foundation has announced an accelerator program for the automotive and industrial companies, which will help them to improve their internal capabilities like wallet share improvement, new customer acquisition, robust product development, manufacturing throughput maximisation, generation of free cash flows and a sound talent lifecycle management in upskilling the employees among others.
The acceleration program will address these challenges and offer solutions to business entrepreneurs for maximising their growth potential through ‘Do-It-Yourself (DIY)’ discovery and business solution tool kits and other knowledge resources using AI-enabled automated logic and personalised interventions. The company says the goal is to strengthen the business ecosystem without any commercial expectations. The Wadhwani Advantage will assist without charging any price and the curated advisors will offer pro bono and subsidised or success-based fees, if needed, to help the businesses to finish their transformation journey and be certified by Wadhwani Advantage. The program plays a leading role in governance and delivering impact in accelerated outcomes of growth and employment.
In addition, Wadhwani Advantage has come up with its own proprietary Wadhwani Index and Scoring system that would set the goals for performance improvement. The proprietary automated discovery tool is designed to empower the businesses to measure performance on the basis of 27 key performance indicators, with eight among them as the most important ones, across the seven quarters in the past and into the future and also allows these companies to compare themselves with industry benchmarks. The committed consultants engaged with the program will assist the businesses in using this tool and help the auto component companies aspire towards industry leadership.
The Advantage program has built tens of scenarios for each of the indicators and has used automated intelligence and logic to recommend the appropriate transformation projects that the small businesses must undertake to transform and accelerate their growth.
Speaking on the launch, Samir Sathe, executive VP, Wadhwani Advantage at Wadhwani Foundation, said, “Through this program, we aim to empower the owners, top management, the key functional heads in learning to make sound business decisions using data, an important capability to succeed and sustain. Our deeply engaged, passionate consultants will help the entrepreneurs and functional heads to use this industrial-strength tool for their benefit to maximise their own performance and together help their organisation become a challenger or leader in their industry. This is our core offering, backed up by 300 human years of practical field experience, rigorously tested algorithms and automated insights and deep realisation that small businesses need to use data to make decisions to survive and grow.”
He added, “In addition, through our program management office support, we will also offer the auto companies peer and market access networks, connects with the pro-bono advisors and coaches to ensure that we hand-hold them as they navigate the challenges, should the need arise.”