Innoviti Payment Solutions - Vice President - Sales/Business Development

Job Designation: Vice President - Sales (Business Development)

Company Information:

Innoviti Payment Solutions (Innoviti) started its payments business in 2008. It quickly established itself as a pioneer on innovation and leader of execution in the payments space. Processing over 3B$ worth of payments annually from 700+ cities in India, the company has grown at a CAGR of 50+% over the past 3 years. Marquee brands such as such as Reliance Retail, Landmark Group, Indigo, Inox, PVR, Titan, Walmart and others.

With marquee investors - The Titan Company, Catamaran Ventures, Bessemer Venture Partners and SBI-FMO, the company is well capitalized to drive its vision.

Our vision is to reduce the cost of accessing money for everyone. This will help fuel economic growth in a small way. Our mission is to organize the flow of money to do this.

The company has created a multi-sided payments platform that helps in doing this. This platform has a unique ability to add intelligence to traditional payment channels helping businesses reduce cost and enhance sales. Four kinds of businesses get attracted to use these channels.

a) Merchants who want insights into customer payments for better control and reduced payment back-office operations.

b) Brands who want to drive preference for their products through lower cost and better controlled promotions at these merchants.

c) Financial service providers such as payment entities, wallets, employee benefit cards, who want to drive preference for their payment instrument.

d) Banks and lenders who want to get access to customers at these merchants to offer them loans at a lower risk and cost than other channels.

Innoviti is addressing these customers through two key propositions - a) uniPAY Next - a set of consumer payment and lending services and b) smelending.com - a set of short-term working capital services for small businesses.

Over the past two years the company has invested heavily in building up the platform. It is now ready to disrupt the business by changing the way payments platforms add value and attract and onboard customers. It would do this by:

a) Making the platform open to onboard customers easily,

b) Changing distribution models to reach 100X customers, and

c) Allowing more intelligence to the channels.

To drive this roadmap the company is looking for talent who are ready to do what no payments platform has done before and what every payment platform will do thereafter.

VP - Sales (Business Development)

Location: Bangalore/ Mumbai / Delhi

Reporting to: Chief Revenue Officer (CRO)

Responsibilities:

In this role the candidate will be overall responsible for generating revenue from existing customer and partner relationships. Candidate would not be involved in acquiring new customers (merchants), however would need to farm existing relationships and develop existing and new partner relationships to drive revenue.

Duties:

- Understand the different parties that contribute to Innoviti's revenue and prepare a business plan for each type of party (merchants, acquiring banks, issuing banks, third-party service providers etc.).

- Develop strategies and plan for translating them into actions for each party.

- Put in place processes for engaging with each party that will help drive revenue.

- Translate revenue targets to what can be derived from each party and get the same executed through the team.

- Hire, train and manage teams for executing to the plan and targets.

- Should have a watchful eye on the developments within the customer's organization which could impact the future business potential for Innoviti and proactively call out risks and opportunities

- Sustain, manage and cultivate relationships with existing clients to foster deeper and new value creation to align with their business objectives

- Identify new areas of opportunity that partners are working on and develop business case. Present business case to the Head of Sales and Business Head.

- If new opportunity areas are approved, get processes put in place along with Operations, Marketing and Sales for inclusion of new opportunities in their workflows.

- Work with Sales for new opportunities to be opened up by them during hunting.

- Managing monthly, quarterly and yearly reviews with customers- CXOs through team

- Prepare profit and loss statement to understand whether repricing is required with current accounts. Get the repricing done by justifying the value add to customer

- Identification of business risks within account and mitigation of same

- Train and nurture the team on risks identification, mitigation, value add justification and repricing within current accounts

- Timely presentation of targets and achievements to Head Of Sales and Business Operations

- Bring efficiency in sales cycle by using sales processes, tools and optimizing processes

- Help the customer discover revenue streams hitherto unexplored by the customer within range of products provided by our company

- Manage, Mentor and develop team members to be highly productive

Skills and qualifications:

- B. Tech and MBA from tier 1 or tier 2 colleges

- 13 + years overall experience with recent 5+ years of experience in managing IT and Payment consultative customer relationship management team or from Acquiring banks and Corporate banking

- The ideal candidate will be entrepreneurial, expert in business risks identification and risk mitigation.

- Should have demonstrated analytical skills in putting together a business case for new opportunities to be invested in.

- Should have demonstrated increase in business from existing relationships by cross-selling other products.

- Should have managed the team who deals with CXO level positions in mid-large-scale enterprises, across the country

- Results-oriented with a sense of urgency and passion for success

- Strong business planning, profit and loss planning and organizational skills

- Ability to lead the team by example and inspire them to do better

- Have excellent communication, time management, listening, presentation and writing skills

- Can add value to customer and team by making them aware of market practices or industry information

Personality:

The ideal person for this role would be someone who loves the challenge of an entrepreneurial environment and is able to deal with complexity and rapid change. Needless to mention, the person would be self-driven, results-oriented with a positive outlook and impeccable integrity. He/She would have a track record of delivering results consistently in uncertain environments. Excellent communication skills with an ability to manage crucial conversations with very senior external stakeholders. Experience in managing successful scaling up of a business would be useful.

Benefits:

This job will provide the individual with an opportunity to strategize, direct and grow a business in the payments space, one of the hottest technology spaces in the country. Innoviti has been recognized as a pioneer in several areas of payments. Contributing to Innoviti achieving its vision will provide an opportunity to the individual to be recognized as one of the members that made it happen.

The position will be remunerated with a fixed pay as per industry standards and performance linked variable pay.