Mr.Vipin Jain- CEO, Logicash Solutions Pvt Ltd
BFSI and Retail sector companies are progressively innovating to cater to the needs of cash management efficiently. In today’s fast paced business environment, efficient cash management systems are the need of the hour. Faster execution of payments, collecting receivables and managing excess cash, transactions and their accounting information are the key processes required by businesses today to increase their productivity and profitability.
‘LogiCash’, conceptualized by Mr. Vipin Jain in the year 2010, addresses the current business challenges for the BFSI & Retail sector in their Cash Management Space. Mr. Vipin Jain, CEO – ‘Logicash Solutions Pvt Ltd’, is a passionate and dynamic personality, who is open to extensive challenges at work. In the early days of his career, Vipin evolved as a promising entrepreneur when Mr. R.D. Grover, Chairman& MD – CMS Computers, invited him to be a part of the company’s leadership team. He handled various departments such as Finance & Order Execution efficiently for 15 years and finally become the Country Head in 2010. His association with CMS Securities Ltd contributed to the various achievements for the company with a turnover of 300 crores, 30,000 CDP pickup points per day, Business portfolio of more than 20,000 ATMs while managing over 12,000 employees.
His desire to offer out of the box solutions to the BFSI sector resulted in the incorporation of ‘LogiCash’ which is a joint venture between Vipin Jain and Netherlands based ‘Royal Syntech Group’. Blending knowledge with technology, ‘Logicash Solutions’ offered a ‘first of its kind’ ‘Cash in Transit system in India’ with comprehensive and wholesome web based application with real time information, to their treasured customers, providing them the pulse of their business which was missing all the while in entire offering of value chain.
By 2012, Mr. Jain was prepared to enter the CIT market with his last mile business approach, strong process and controls backed by automation and the perfect recipe of experienced team at the regional & corporate level.
Mr. Jain explains that due to slow credit off take, banks prefer to outsource Cash Management activities which can ensure consistent service delivery with real time reporting. Also there are few bottlenecks in the present scenario such as high operational costs, lack of automation process leading to dilution of controls, absence of real time information systems. The industry being an oligopoly market, operates at higher costs and less geographical reach. “Logicash addresses these challenges with its infused advancements, unique and innovative business solutions having expertise in cash management, pickup, ATM management, cashiering services to BFSI & Retail sectors”, shares Vipin, who was nominated by RBI as one of the Members of High-level expert Committee constituted for Business Process Reengineering of Currency Management in India.
Reflecting on the upcoming challenges in this industry, he says, “We are building a sturdy roadmap to emerge as a preferred ‘KPO as MSP’ for Retail and BFSI sector. We are looking forward to strengthen our position as a leader in timely delivery, cost effective and innovative business solutions which empowers our clients to make optimal business decisions.”
Steering its way in the turnkey technology, Logicash’s footprints are spread across the country through their deep rooted infrastructure of secured vehicles and a workforce of more than 3,000. Logicash’s top level management is embellished by the industry veterans who are entrepreneurs in their own fields of expertise.
Vipin, who had been elected as the President of Cash Logistics Association (CLA) during 2015-2016, is a hands on business leader with standards of excellence in everything he does. His willingness to sacrifice business and profits, for the promise of delivering value to the customers, has won him customer’s loyalty and undying cooperation of his team, stakeholders and vendors.
Awards and Accolades
- Mr. Jain has been a Guest speaker at ICCOS Manila – 2012 and had presented a white paper on “Cash Management Companies in India-Challenges and future outlook”.
- He has also received the “Best Entrepreneur, Rajasthan” Award for “Emerging as a role model for his team across the organization” in 2013.
- Under his leadership, Logicash Solutions Pvt Ltd has received:
- “The Best Mid-Corp Award”, awarded by PM of Netherlands in June 2015,
- “The Emerging Mid-Corporate Excellence Award 2015”, conducted by Karur Vysya Bank – Dun & Bradstreet SME Business Excellence Awards 2015.
- “The Atmosphere Award” – by Electronic Payment and Services private limited, in 2015
- “The Emerging Mid-Corporate Excellence Award 2015“, conducted by Karur Vysya Bank – Dun & Bradstreet SME Business Excellence Awards 2015, felicitated by Shri Jayant Sinha, Minister of State For Finance Government of India.
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