Innovating Insight-Driven Decision Making For The Future

Reshaping The Future Of Insight-driven Decisionmaking By Blending Innovation And Excellence

The market is awash with hundreds of data tools, but only a handful of them stand out for their ability to enable intelligent, automated, and fully orchestrated data management across the entire data lifecycle. The Bangalore-based FORMCEPT Technologies and Solutions Private Limited, a leading unified data and analytics company, is one such firm that found its genesis in 2011. The brainchild of seasoned tech professional and visionary leader, Suresh Srinivasan and his co-founder, Anuj Kumar, FORMCEPT is an award-winning product company that facilitates just-in-time decision-making with a business-focused, domain-driven approach.

The sole mission of FORMCEPT is to bridge the gap between data and actionable insights and enable data-driven processes for enterprises worldwide. FORMCEPT’s 15-member team is dedicated to innovating data products that help its clients (including several FORTUNE 1000 companies) manage the entire data lifecycle including data capturing, data storage, data analysis, and data visualization in an automated manner. This approach aims to make the development of data models and applications agile and efficient.

FORMCEPT’s Products Portfolio

MECBot

MECBot by FORMCEPT is the #1 Data Excellence Platform that is designed to address enterprise data challenges and facilitates insight-driven decision-making just in time, without relying on the underlying databases or the structure of the data. By enriching interconnected data with a linked Knowledge Base and advanced metadata, MECBot creates a reliable, unified knowledge graph for enterprises. This trusted Enterprise Knowledge Graph is then easily accessible through the organization via a secure channel and is continuously updated by MECBot on the fly.

Therefore, with MECBot, data-driven decisions can be made at the exact moment when they are required, leading to accurate, timely, and auditable decisions.

Here’s what MECBot can help enterprises achieve:

• 80% Reduction in data pre-processing time
• 3X Increase in Business ROI
• 60% Reduction in data analytics costs

IntelliDevice

IntelliDevice by FORMCEPT is designed to meet the global standards for industrial IoT, enabling businesses to create, deploy, and manage IoT operations at scale. It combines best-inclass IoT and AI capabilities so that users never have to worry about scale, speed, or interoperability.

Powered by MECBot, IntelliDevice can automatically gather and manage data from connected devices, monitor the health and usage of each device, and analyze how stakeholders interact with connected devices. It seamlessly integrates device data and metadata with business data to drive IoT-powered growth and profitability for smart industries.

MecGPT

Recently, FORMCEPT launched MecGPT, a domain-driven, business-first Generative AI tool that is no-code, vendoragnostic, and cloud-native. It radically empowers businesses to harness the full potential of Generative AI without users needing a deep understanding of coding or data science.

This groundbreaking tool combines real-time, context-rich data unification with Generative AI. Its scalability allows businesses to generate actionable insights from their data seamlessly and just in time, without the worry of vendor lock-in.

The Genesis of FORMCEPT

In the early 2000s, data was already making waves as a source of competitive advantage for businesses. However, while big companies were pouring cash into their data initiatives (and yet mostly failing), smaller businesses were left in the dust.

Enter Suresh Srinivasan and Anuj Kumar–two ex-Oracle data professionals who co-founded FORMCEPT in 2011 to level the playing field and democratize data analytics for businesses of all industries and sizes. And so, MECBot was born–a powerful, unified data analytics platform designed to deliver actionable insights from high volume, high velocity, and high variability data from start to finish.

In April 2012, MECBot was launched and quickly gained attention. It wasn’t just about handling massive amounts of data—it did so intelligently. Back then, enterprises were frustrated with data storage problems, while MECBot automatically stored data of different types in the right places, eliminating storage issues. Furthermore, its advanced Natural Language Processing (NLP) and Knowledge Graph features helped users dig deep into unstructured data to uncover trends, patterns, and insights with ease.

Recognition quickly followed. From winning the Economic Times Power of Ideas to being a finalist in NASSCOM-TiE’s Top 40 Startups, MECBot was making waves. And soon, big names like ESPN Cricinfo and Monster India came on board. But the journey didn’t stop there. By 2015, FORMCEPT had rolled out MECBot 1.0, loaded with AI modules like Predictive Analytics and Customer 360° insights, eventually bagging clients like FIS Global and AC Nielsen.

One of the key secrets to their early success was that the founders were always ahead of the curve. As the data world shifted towards more connected devices and intelligent insights, MECBot evolved too—becoming IoT-friendly and unlocking new capabilities like automatic pattern recognition in real-time. They then pushed forward with MECBot’s 2.0 release in 2017, loaded with augmented analytics that cut down on the need for data scientists and automated data transformation.

In 2019, FORMCEPT was recognised as the Best AI Company of the Year at the Global AI Summit and Awards, organised by AICRA. On the other hand, they formally introduced their Industrial IoT innovation–IntelliDevice. By 2020, MECBot 3.0 had hit the ground running, tackling some of the biggest challenges enterprises face.

From awards to patents, and from breaking new ground in AI to scaling globally—Suresh and Anuj didn’t just build a company. They have stood up for their unwavering belief that data is for everyone and have materialized this belief through relentless product innovation.

Significance of R&D in FORMCEPT’s Business Model

FORMCEPT has been investing in research and development since day one and continues to do so today. The company has secured nine patents, demonstrating its commitment to innovation.

Two of the most significant patents acquired by FORMCEPT include:

• Data Folding Technique: This system and method allow for pre-processing, storing, and retrieving data based on its type at the time of storage.

• Advanced Summarization on Plurality of Sentiments: This method enables summarizing content based on the sentiments associated with a particular entity.

Shaping the Future of Data Strategic Leadership

As Steve Jobs once said, “Innovation distinguishes between a leader and a follower.” With a relentless focus on research and development, product innovation, and working at the cutting edge of technologies like AI and IoT, FORMCEPT continues to push the boundaries in data science, always looking for new ways to make data work smarter, not harder. By investing in groundbreaking technology, FORMCEPT has proven time and again that they are not just merely participating in the future— they are shaping it through strategic data leadership.

An Ideal Work Culture, Driven By A Purpose

FORMCEPT is not just another typical tech company. It is a dynamic community of innovators and learners. With a flat organisational structure, FORMCEPT ensures that every voice, from a fresh graduate to a seasoned leader, carries weight. No one is made to sit on the sidelines. FORMCEPT gives real opportunities to even new joiners, helping them dive into the deep end from day one. It is all about talent, initiative, and, above all, commitment.

Weekly brainstorming sessions on AI, IoT, and Big Data keep the team at the forefront of innovation. At its core, FORMCEPT is all about integrity. What drives the team is not just building technology but creating a better world.

Envisioning the Future

Working on its vision to become the global leader in enabling organizations to harness the full potential of their data ecosystems by operating from a single source of truth, the leadership team at FORMCEPT actively focuses on seminars, workshops, and speaking engagements at industry events, fostering direct interactions with decision-makers. Additionally, FORMCEPT is looking to tap into a new world of opportunities by onboarding business development partners and channel partners in key markets like Germany, Brazil, and the U.S.

Notable Milestones and Achievements

FORMCEPT is dedicated to delivering top-notch solutions that have enabled it to serve Fortune 1000 customers across the world and receive Series A funding from GVFL Ltd. Some of its notable achievements include:

• Frost & Sullivan’s 2014 New Product Innovation Leadership Award at GIL 2014
• Featured at TechCrunch International City Event, India, 2013
• NASSCOM Emerge 50 Award, 2013 • Finalist of TiE50 Awards Program, Silicon Valley Chapter, 2013
• Recognized by YourStory.in’s TechSparks TECH30, 2012
• Finalist of Next Big Idea, NSRCEL, IIM Bangalore, 2012
• Seed funding from CIIE-IIM Ahmedabad by winning ET Power of Ideas, 2012 organized by CIIE-IIM Ahmedabad