HERALD: What is your field of specialty?
MAYUR VIRKAR: One of our major services is that of a financial solution provider of foreign exchange and international payments. We provide money transfer service for forex traders and brokers worldwide which enables them to pay their customers in more than 100 countries across the globe. Recently we expanded our market to China, supporting money transfer in Yuan and US dollars to Chinese bank accounts and cash payments as well. We offer our customers, individuals and companies, services with competitive rates, access to wholesale markets and flexible payment options. We make is easy for our business customers to make or receive payments based on our team’s vast expertise. We can guide you through the global currency markets to ensure that you can maximise your opportunities and minimise your risks – thus adding real value to your business.
HERALD: How can your company help Goans?
MV: Besides grooming the best of local talent, we provide a platform where one gets to understand the technology space currently in the market. One of the major concerns we face in Goa is lack of IT jobs for the countless IT professionals in Goa. Working in an emerging startup, IT professionals prune their coding skills to the best practices within quick timelines. I think one of the major addons that any start up company can provide is mentorship programs. As one knows that many CEOs or Directors in turn have been mentored and grown, mentorship is the key to a start up success since the challenges faced by start ups vary from well established organisations.
HERALD: What made you decide to launch your company in Goa?
MV: Although known worldwide as majorly a tourist destination, I realised that there are a lot of visionary entrepreneurs in Goa. Another striking feature is that Goans are known to be a go-to people which makes running a business very efficient.
HERALD: We see Goans setting up companies in cities like Bengaluru, Hyderabad, Pune etc? Why is this happening?
MV: There is an emerging trend in shifting base to other cities. There are various reasons for this: (a) Lack of transparency in terms of obtaining numerous licenses to run a company. One has to move from pillar to post to receive various establishment licenses. There is also no clarity on the document processing, and the only option remains is to hire consultants for very routine work which could be handled in-house. Also long delays in resolving document processing from government offices. (b) Lack of Infrastructure support; frequent power and internet outages – Unfortunately even in IT industrial estates in Goa we face these issues. IT companies are driven to maintain their own backup for power and manage multiple internet providers.
HERALD: How do you see the Goa market? Are you planning to spread out?
MV: With the onset of the start-up IT policy, we are at a very intriguing phase in Goa. We have seen a lot of start-ups sprouting with young entrepreneurs taking the reins. Many of the local businesses are now finding a reason for them to be online, and are reaching out to IT service providers to expand their business. In terms of growth for the company, we plan to spread out where we find the best talent and resources.
HERALD: Where do you see yourself in next five years?
MV: I would like to see the mushrooming of many more CodeMax branches across other cities and countries. In the last two years itself we have seen tremendous growth. On the same lines I would like to see us expanding to a team strength of more than 75 employees with a strong hold in the IT market contributing in every bit to technology advancement.
