Mumbai, 28th Feb 2022: OnSpot Solutions, one of the fastest-growing SupplyTech firms dealing in anti-counterfeit solutions and supply/distribution chain management, announced its one-year growth plan in India. As a part of its plan, OnSpot intends to place a strong emphasis on the FMCG and pharmaceutical sectors, expand its product portfolio & extend into newer geographies.
OnSpot Solutions has patents in the United States and India for its cloud-based technology, which allows the end-user to check the authenticity of a product in real-time. Employing advanced, real-time and user-friendly technologies, end consumers and the parent brand can verify the authenticity of the product at the point of purchase. The patented technology provides brands with protection against counterfeiting and allows the brand to get a bird’s eye view of the supply/distribution chain. Additionally, the technology creates a unique communication channel between brand and consumer by offering a host of value propositions, product educational material and tips, incentive and reward programs, as well as many other elements designed to engage the consumer per industry or product.
In India and the United States, OnSpot works with over 20 organisations and numerous significant clients. Since the pandemic, the brand has had a 4X growth trajectory by utilising the unique Onspot framework for businesses across industries. Next-generation technologies, such as artificial intelligence (AI), will push Onspot’s propositions and assist companies not just in minimising logistical challenges, but also in identifying and forecasting prospective sales situations based on market and customer behaviour. In other words, Track, Trust & Trend.
Speaking on the plans, Mr. Lokesh Harjani – CEO & Founder, OnSpot Solutions, said, “Since the outbreak of the pandemic, there has been a rapid rise in counterfeit products. Sectors like Pharma and FMCG have been highly prone and affected by counterfeiting. The most dangerous, of course, is counterfeiting in the pharmaceutical industry. As per the recent study, 25% of the medicines available in the Indian Market are fake or counterfeited. The government is making efforts to curb counterfeits, and this is where Technology like ours will help curtail this problem.”
As part of its next steps, OnSpot Solutions shall focus on aggressive core product expansion, research and development, and a comprehensive suite of products for all business segments with focus specifically for the Pharma, FMCG industries, electrical and automotive (lubricants and spares), segments.