Over the last couple of decades, smart cities have emerged as the economic model of the future, one that uses technology to power optimal outcomes such as agile growth, resource allocation, inclusive access to services and being resilient to challenges. In particular, Cloud technology offers manifold benefits such as smooth collaboration, high security, fast deployments and easy scalability. Small wonder, therefore, that global public Cloud spending is set to hit $482 billion by 2022. Most utility firms, however, continue to rely on traditional ways of supplying their customers with electricity, water and gas. In this regard, Bynry offers a green-field cloud-based smart utility solution that enables utility firms around the world to deliver fast, convenient services to modern consumers.
Bynry is a US-based B2B SaaS company founded in 2016. It focuses on enabling utility businesses to achieve digital transformation in an affordable, scalable fashion. With Bynry’s Smart360 product, small and mid-sized utility firms transition seamlessly from legacy technology to a cloud-based smart utility platform in a matter of weeks. Since its inception, Bynry has used cutting-edge digital, AI and IoT technologies to help energy-based businesses follow hassle-free procedures, standardise their operations and deliver better customer experience. They believe in the combined power of technology and human intelligence to achieve their vision of ‘utilities made smarter’.
Market Information
Given the complex tasks that sectors like water and gas handle, including routine checks, tracking thousands of customer accounts and crisis management, going digital seems to be the self-evident answer. And yet, most utilities are typically run by legacy firms with slow operations and piecemeal task management. Regardless of firm size, a central dashboard with streamlined workflows and automated data insights can significantly improve real-time as well as long-run performance. Mr Nilesh Gudhe, founder of Bynry, saw a green-field opportunity in this regard and thus conceived the product.
Digitisation has become the norm today in business transactions of all kinds. Particularly after the Covid-19 pandemic hit, people are used to the world being at their fingertips via a smartphone. It is thus natural that customers expect utility transactions to be as seamless as making a bank transfer or buying a pair of shoes online. At the same time, utilities has always been a traditionally overlooked sector with most legacy systems in place. For this reason, Bynry developed a simple solution that enables every operation to be digitised and managed on a single platform.
With Bynry, the focus is on microservices and Rest API cloud-based software solutions that are easily integrable with upstream and downstream services. From the finance tool that manages complex billing and rate changes to the standardised digital contracts for easy purchase management, Bynry has thought of it all. There is no need to set up servers, and no user fee – firms pay for what they use when they use it. Moreover, with AI and Data Analytics, clients can access real-time insights on what is working and modify their process to fit accordingly. For the customer, there is the benefit of simple transactions over a user-friendly mobile app that enables full transparency on past dues and upcoming bills. With Bynry, firms can bid adieu to time-consuming processes and offer their customers modern, intuitive ways of doing business.
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About the product
Smart360 is a ready-to-use cloud-based smart utility solution that is the first of its kind in the market. It includes comprehensive tools for customer experience, meter experience, workforce automation, billing and collection, asset & network management and purchase & inventory management. The features of the Smart360 product include
● Intuitive channel ideal for multi-domain utility services including water, electricity and gas
● One-stop solution for customer support, billing, meter data management, workforce management, asset management and spend
● Real-time dashboard and daily reports
● POS integration
● World-class security and scalability through AWS Cloud
● Dedicated support team to help with Cloud migration
● Easy auditing and assessment for full compliance with local laws
● A flexible pay-per-use model that is more affordable than a licensing model
● Active software maintenance so that clients can benefit from all future upgrades
Bynry Ethos
Bynry takes a solution-oriented approach to enabling small and medium-sized utilities firms on their digital path. Their team of young and dynamic professionals are chosen for their passion and commitment, and they come into work every day determined to uphold excellence in everything they do. The company believes strongly in ownership and diverse perspectives, and the people they hire are given every opportunity to see the global impact of what they do. From freshers to top leaders, everyone works and contributes as a single team. Their commitment to openness, mutual trust and respect has helped them win over clients and co-workers alike.
Growth Plans of Bynry
Since its inception, Bynry has enjoyed a CAGR of 60%, especially after more companies went digital during the Covid-19 pandemic. They serve around 700,000 customers on a monthly basis with an annual billing of $500 million. They have completed eleven successful projects in India and collaborated with Upekkha, SaaSboomi, Startup India and AWWA, and won recognition from bodies like Startup Asia and Smart Fifty. They are headquartered in Delaware and Pune, with a Series A funding of around $15 million. Going forward, they aim to target large utility firms as well through relevant enterprise-level upgrades to the product. They also seek to tap into more of the Indian market and potentially collaborate with the government on city-wide projects.
About Spokesperson of Bynry
Nilesh Gudhe is the CEO and founder of Bynry. He has 20 years of expertise in designing, developing, and maintaining web, cloud and mobile-based, high data volume platforms for businesses in the Americas, the United Kingdom and Asia, and over five years of experience addressing high-value industry challenges for Electricity, Water, and Gas. He founded Bynry from scratch in 2016 and successfully grew it into a multimillion-dollar ARR. A member of AWWA, Mr. Gudhe is a volunteer at the Adult Literacy Program and advocates for the skill development of the underprivileged. He speaks at various conferences and forums and believes in integrity, creativity and leading by example. He is married with two children and enjoys playing table tennis and cycling in his free time.
