Delhi based Iris Computer, one of the oldest and Tier I national distributors in India, is bouncing back with full grit and determination after it was acquired by John Sculley-led Inflexionpoint in the year 2014
The sudden closure of Inflexionpoint-led Dragon Technology Distribution in Singapore has now relinquished its hold, leaving Iris in the hands of Sanjiv Krishen, who originally founded the company in 1996. Both Neeraj Chauhan, CEO of Inflexionpoint Asia and Vishal Sopory, CEO of Iris Computer have been out from Iris Computer. Under the leadership of Krishen, the original management team of Kamini Talwar, Som Arya, Sameer Chaudhary and Himanshu Chawla is back to steer the company to new heights of success.
The news of Iris closing down its operations came at a time when other major old distribution houses like Neoteric and Global Infonet were too on the spree of shutting down their shops. Despite the rough business climate situation, distribution veteran and chairman of Iris Computer, Krishen saved the goodwill of Iris Computer and re-established the business.
For Iris, business was flourishing and going steady, but the need for funding made Iris to sell its share and stake to Singapore-based Dragon Technology Distribution, for additional limits and strengthening its growth path. However, in September last year, Dragon had filed for bankruptcy and wound up operations as early as October last year which jolted the Iris business, an Indian distribution arm of Inflextionpoint and its turnover dropped from ₹2,600 crore to ₹100 crore.
In April, 2017 Krishen salvaged Iris from getting closed and brought back the company’s shares and stakes from the hands of the Singapore High Court. He revived Iris with the support of the old team and employees, and put back ‘Iris Computer’ name into the IT distribution business.
Speaking exclusively to CRN, Krishen informs, “All the development happened soon after other distribution houses closed down their operations – we did not want to be one of those. My first priority was to save Iris from closure and retain trust of our employees, partners, vendors and banks. Having said, we are building the blocks and reinveting the distribution business.”
In spite of business challenges and amidst rumors of Iris getting closed, in just six months of revival, the company bagged and executed fairly large orders in Ranchi. The distribution house is now looking for more credits and bank limits to pick up more orders in the government and education space.
A new start for Iris Computers
Iris Computers, through its partner, has been able to bag an order of ` 60 crore from the Jharkhand government to provide tablets. Another significant order which it has been able to procure is from the Kendriya Vidayalaya Sangathan worth ` 38 crore. Iris Computers has delivered and installed 25 software loaded desktops in each of its language laboratories. This has been a gargantuan logistical task as 8,000 desktops have been delivered and installed in 320 schools across the country.
Krishen further adds, “We are in a unique business where a little bit of money and limits and can multiply our growth. Iris is back in safe hands; partners are trusting, so are our vendors like Dell, HP and Samsung. They are giving us big orders and we have goodwill and confidence to set out on new growth charter.”
The company is looking for diversification into different innovative areas such as solar panel powered tube wells, computer rental services, Microsoft cloud services and mobility. Iris has got close to ` 1,000 crore orders since April 2017 and it has closed down its branches in northern regions and downsized the size of the team.
