Suman Chakravorty : A Visionary Leader Transforming Medical Equipment & Devices Industry With Innovation
Suman Chakravorty
Director
CEO Insights engaged in a one on one interaction with Suman Chakravorty, a proud Alumni Leader from IIFT Delhi, he shares the story behind his journey and more.
Can you explain in brief your career journey?
It all started at a German-based medical equipment company when I joined as a service engineer, focusing on servicing dialysis machines. This role introduced me to both the clinical and technical aspects of the product. This experience taught me how to interact with customers effectively, even when I lacked complete knowledge. After a year, I transitioned to the sales department as a manager for the eastern part of India and Bangladesh, where I worked for about five to six years.
Next, I joined a top US-based medical equipment company, moving to Chennai as the national head of India and Southeast Asia. This role exposed me to critical surgical procedures and advanced medical systems, requiring a deep understanding of both clinical and technical details to effectively promote these products to doctors.
Throughout my career, I underwent extensive training, including practical sessions on animals, to better understand surgical proce-dures. This experience allowed
me to connect with doctors and understand the intricacies of surgeries ranging from brain and cardiac to cancer and orthopedic.
My success in this role led to recognition as the highest seller in the Asia-Pacific region and subsequent promotions. During this period, I pursued an Executive MBA in International Business from IIFT, which significantly shifted my Perspective. This education emphasized the importance of solution selling rather than just product selling, enhancing my ability to understand and meet customer needs.
Eight years ago, I co-founded a company with a former colleague who shares my passion and expertise. Ramachandran is the key person who is an extreme instrumental where Biom is today. His corporate networking is one of the biggest driving force and the growth engine of the company.
We specialize in designing and executing operation theatres, IVF unit, Negative pressure rooms, Bone marrow room according to clinical guidelines. My extensive experience in operating rooms allows me to communicate effectively with doctors and offer tailored solutions rather than just selling products. This approach has been the cornerstone of our success.
What are some of the valuable lessons you learned at IIFT?
Understanding how to take calculated risks is crucial. Initially, I knew nothing about the financial aspects of accounting, such as reading balance sheets or under-standing corporate laws. While these topics may seem academic, they are essential. When you think like a CEO and manage daily activities, it becomes clear how these concepts apply in reality.
It's not a typical 9-to-5 job; it's about attracting investors and under-standing subjects related to our work, especially in mobile solutions, significantly benefits patients in rural areas and supports government initiatives. The Institute of Financial Planning (IIFP) has been instrumental in building the right mindset for someone transitioning from a corporate job of 10- 20 years. I took the risk and learned how to mitigate it, which is one of the amazing benefits IIFP offers.
My success in this role led to recognition as the highest seller in the Asia-Pacific region and subsequent promotions. During this period, I pursued an Executive MBA in International Business from IIFT, which significantly shifted my Perspective. This education emphasized the importance of solution selling rather than just product selling, enhancing my ability to understand and meet customer needs.
What sets us apart is our ability to offer solutions that not only meet client needs but also include additional value propo-sitions at competitive price points
Eight years ago, I co-founded a company with a former colleague who shares my passion and expertise. Ramachandran is the key person who is an extreme instrumental where Biom is today. His corporate networking is one of the biggest driving force and the growth engine of the company.
We specialize in designing and executing operation theatres, IVF unit, Negative pressure rooms, Bone marrow room according to clinical guidelines. My extensive experience in operating rooms allows me to communicate effectively with doctors and offer tailored solutions rather than just selling products. This approach has been the cornerstone of our success.
What are some of the valuable lessons you learned at IIFT?
Understanding how to take calculated risks is crucial. Initially, I knew nothing about the financial aspects of accounting, such as reading balance sheets or under-standing corporate laws. While these topics may seem academic, they are essential. When you think like a CEO and manage daily activities, it becomes clear how these concepts apply in reality.
It's not a typical 9-to-5 job; it's about attracting investors and under-standing subjects related to our work, especially in mobile solutions, significantly benefits patients in rural areas and supports government initiatives. The Institute of Financial Planning (IIFP) has been instrumental in building the right mindset for someone transitioning from a corporate job of 10- 20 years. I took the risk and learned how to mitigate it, which is one of the amazing benefits IIFP offers.
What are the latest strategies you've implemented to attract investors and map the company's growth path?
From the outset, we've identified several key areas. Beyond operational activities, we're targeting infrastructure needs within the IVF sector. This includes maintaining stability to enhance success rates. As a designer, guaranteeing 100 percent success isn't feasible; our role is to ensure sterility and optimize basic parameters for interventions. Whether it's setting up COVID rooms, large ICUs, integrated digital operating rooms, or basic operating rooms, we strive for uniqueness in every aspect. Our goal is to provide customized solutions that can be commer-cialized effectively.
Can you describe your leadership approach and the principles you adhere to in guiding your team?
I don't lead through PowerPoint presentations; I believe in having a solid execution plan. Planning shouldn't just stay theoretical; it needs to translate into action. When I see team members struggling to find solutions, I step in to guide them, leveraging their talents while providing additional insights they may not have considered. Open communication, trust, respect, and transparency are foundational in my leadership style, as they are for any effective leader.
What is your vision for the company's future over the next five years?
Our immediate goal involves integrating operating rooms into the digital realm and enhancing our core solutions for teaching hospitals, clinics, and nursing homes where technology-savvy doctors are prevalent. As evidence-based medicine becomes increasingly crucial, digitali-zation in hospital settings will be pivotal. We aim to achieve this integration cost-effectively, leveraging our existing solutions to potentially triple our revenue in the next five years. Additionally, we plan to introduce complementary products that align with our current offerings, focusing on low-maintenance and high-reliability hospital equipment like OT lights. Beyond India, we're exploring partnerships to expand our geographical footprint and solidify our market presence globally.
Suman Chakravorty, Director, Biom Medical Technology
Suman Chakravorty has 20+ years of experience in the Medical Equipment and Devices industry, excelling in business management, growth strategies, and market share expansion for MNCs across diverse product lines.
From the outset, we've identified several key areas. Beyond operational activities, we're targeting infrastructure needs within the IVF sector. This includes maintaining stability to enhance success rates. As a designer, guaranteeing 100 percent success isn't feasible; our role is to ensure sterility and optimize basic parameters for interventions. Whether it's setting up COVID rooms, large ICUs, integrated digital operating rooms, or basic operating rooms, we strive for uniqueness in every aspect. Our goal is to provide customized solutions that can be commer-cialized effectively.
Can you describe your leadership approach and the principles you adhere to in guiding your team?
I don't lead through PowerPoint presentations; I believe in having a solid execution plan. Planning shouldn't just stay theoretical; it needs to translate into action. When I see team members struggling to find solutions, I step in to guide them, leveraging their talents while providing additional insights they may not have considered. Open communication, trust, respect, and transparency are foundational in my leadership style, as they are for any effective leader.
What is your vision for the company's future over the next five years?
Our immediate goal involves integrating operating rooms into the digital realm and enhancing our core solutions for teaching hospitals, clinics, and nursing homes where technology-savvy doctors are prevalent. As evidence-based medicine becomes increasingly crucial, digitali-zation in hospital settings will be pivotal. We aim to achieve this integration cost-effectively, leveraging our existing solutions to potentially triple our revenue in the next five years. Additionally, we plan to introduce complementary products that align with our current offerings, focusing on low-maintenance and high-reliability hospital equipment like OT lights. Beyond India, we're exploring partnerships to expand our geographical footprint and solidify our market presence globally.
Suman Chakravorty, Director, Biom Medical Technology
Suman Chakravorty has 20+ years of experience in the Medical Equipment and Devices industry, excelling in business management, growth strategies, and market share expansion for MNCs across diverse product lines.