How to balance legacy and innovation

• The COVID-19 pandemic accelerated the growth of eCommerce, driving the need for efficient delivery solutions.
• RapidShyp aims to fill a gap in the market by providing a comprehensive platform for both B2B and B2C shipping.
• Open communication and family support were crucial to transitioning from a traditional family business to a tech-focused startup. 

Raghav Singhal, Founder and Executive Director at RapidShyp, is a textbook example of what NextGen leaders should be. Taking the established family business Om Logistics, a leading player in logistics and supply chain management, he adopted tech and innovated to pivot and serve a parallel audience. Under his leadership, Om Logistics has undergone a remarkable transformation, emerging as a customer-centric powerhouse that embraces innovation and technology. He has now taken RapidShyp to become a prominent name in eCommerce shipping. Here, he talks to CampdenFB about how RapidShyp emerged and the challenges in developing a new business model away from the traditional family business. 

Why did you set up RapidShyp?

Raghav Singhal: The COVID-19 pandemic has significantly accelerated the shift towards eCommerce, with more consumers opting to shop online. India’s eCommerce sector is currently valued at $70 billion. However, despite this surge, many buyers still prefer to physically inspect products before purchasing, leading to a hybrid shopping approach. In response, brands have evolved to an omnichannel strategy to cater to these changing consumer behaviours. This shift has created a need for a comprehensive solution that addresses both B2B and B2C shipping requirements.

Enter RapidShyp, a platform designed to streamline and enhance shipping operations, enabling sellers to meet growing demands efficiently and cost-effectively. As eCommerce continues its upward trajectory, RapidShyp seizes the opportunity to complete the logistics cycle with its all-in-one platform, ensuring every package, regardless of size, is delivered swiftly and reliably.

How does it differ from Om Logistics?

Raghav Singhal: There are distinct shipping phases in the supply chain, spanning from the source to the customers. RapidShyp specialises in last-mile delivery, focusing on the final leg of the shipping journey from distribution centres to customers. Om Logistics primarily handles mid-mile delivery and heavier shipments between distribution points. By leveraging Om Logistics’ operational expertise, RapidShyp provides a comprehensive one-stop solution that caters to both B2B and B2C needs. This synergy ensures a seamless shipping experience throughout the supply chain, blending efficient mid-mile logistics with reliable last-mile delivery.

What skills have you transferred from one to another

Raghav Singhal: Our unwavering commitment to a customer-first approach remains at the heart of everything we do. With over 30 years of operational expertise, we offer a level of knowledge and experience that most aggregators lack. This deep industry insight and on-ground experience allow us to provide exceptional service and reliable solutions, ensuring we meet and exceed our customers’ expectations.

What are the challenges in developing a new business model away from the traditional family business?

Raghav Singhal: Every new business comes with its own set of challenges; it’s not a significant shift from what we’re accustomed to. My father – Ajay Singhal – is a forward-thinking entrepreneur, and we are poised to add technology into our stack to cater to the unique needs of customers. While RapidShyp operates with a modern and fast-paced model, we benefit from the deep operational expertise gained through Om Logistics. This synergy allows us to focus on meeting the unique needs of our customers and capitalising on our strengths.

Have there been moments of tension within the family about the new business? How did you resolve them?

Raghav Singhal: Seeing the current gaps in the industry, we observed tapping into eCommerce as an excellent business opportunity. We’ve maintained open communication throughout. The family supported the idea of venturing into an aggregation business. A businessman’s true potential lies in understanding the market needs, gaps, and solutions and seizing the moment to innovate and grow.

How do you see the family business evolving in the future?

Raghav Singhal: Our goal is to create a comprehensive tech-driven platform that addresses all unique needs across the supply chain, from shipping and fulfilment to conversions, marketing and everything in between. We aim to collaborate with relevant brands and build a robust network to enhance logistics for both B2B and B2C. By integrating all these elements into a one-stop platform, we seek to simplify commerce for both sellers and buyers, making shipping more efficient and seamless.

Is technology the answer?

Raghav Singhal: Absolutely, technology has been at the forefront, from household to logistics. In the next five to ten years, technology will drive every aspect of logistics operations. The market is expected to grow tenfold. We can expect to see a significant shift towards tech-driven solutions not limited to drone deliveries, autonomous vehicles, warehousing robots and more in transforming the logistics landscape.

Are there management challenges with being a Next-Gen

Raghav Singhal: Balancing the legacy and values established by the previous generation with the need to innovate and adapt to a rapidly changing market becomes crucial. It’s important to honour the foundational principles while also bringing in fresh ideas and perspectives. We are looking for fresh talent to join our organisation and solve modern challenges.

Being a Next-Generation leader also brings opportunities to leverage modern technology, introduce new strategies, and expand the business in innovative ways. It’s about finding the right balance between tradition and innovation to drive the business forward.