“With Spentacorp, we don’t just deliver gifts; we create memorable experiences and lasting connections.”
(Founder & Business Head, Spentacorp)
Do you ever wonder what led to the rise of corporate gifting? What’s the history behind this practice? It’s a story that stretches back to ancient civilizations where people exchanged gifts and presents during trade. Merchants engaging in business deals believed that offering presents helped establish trust between trading partners. In medieval times, gift-giving evolved and became more formalised, finding its way into royal courts and among nobility. These gifts were not just tokens of generosity; they were strategic tools for building alliances and loyalty among kingdoms. With the arrival of the Industrial Revolution, businesses went through many changes, and so did the way companies approached gift-giving. Emerging businesses started giving gifts to clients, partners and employees to show gratitude. Fast forward to the 1900s; corporate gifting became more popular. Today, we find ourselves in the digital age, where businesses utilise corporate gifting as a means to establish and strengthen their relationships by sending gifts to their clients, stakeholders, partners and employees, transcending geographical boundaries to create lasting connections. The history of corporate gifting is a beautiful tale of how people have always used presents to build connections and show appreciation.
This rich history of corporate gifting shows how gifts have always brought people together. And now, we see this tradition come alive in a modern way in Spentacorp. Helmed by Ravi Varadarajan, a man with 28 years of extensive experience in B2B sales and marketing, Spentacorp specialises in a range of services, from corporate gifting to promotional merchandising, employer branding, rewards & recognition and building brand stores.
With a leadership of veterans with a combined experience of over 40 years, the success story of Spentacorp revolves around growth and incremental development. It is growing by leaps and bounds. And the numbers say it all.
- It serves various large Indian and multinational corporations, earning the trust of over 125 customers
- It offers a range of more than 1,000 products
- The firm has successfully executed over 2,000 projects
“When I got into this business about 30 years ago, there weren’t many companies offering what we do. I can proudly say we were among the pioneers in the industry. We started off with promotional apparel and gradually expanded our range. Early on, I learned the importance of being reliable and customer-focused, something that we breathe even today,” mentions Ravi.
Spentacorp: Symbolism In Every Detail
Spentacorp stands true to its name. The name ‘Spentacorp’ is derived from the Parsi word “Spenta” meaning progress, swell, increase or expand. The word ‘Spenta’ in ‘Spentacorp’ signifies the company’s commitment to growth and development, for itself as well as its clients.
The company’s logo which features a handshake between Spentacorp and its partners, is a symbol of friendship, goodwill, trust and approachability. The brand colour scheme features a gradient between orange and vivid raspberry. While orange colour reflects the energy of red and the happiness of yellow, vivid raspberry reflects friendship, affection, harmony, inner peace, and approachability.
Meet The Founder
The man behind Spentacorp, Ravi Varadarajan carries with him a rich experience of 28 years in B2B Sales & Marketing. He is the key interface with clients and holds the key to building the company’s prestigious client base, including big and renowned brands like Infosys, Cisco, Accenture, Aditya Birla Group and many more.
Ravi is not only suave but also tech-savvy, a combination that perfectly suits his research-oriented and problem-solving approach. It is his empathetic thinking approach that enables Spentacorp to consistently deliver industry-leading great customer experience.
On the academic front, he holds a certification in Executive and Business coaching. He has mentored many businesses to help them achieve their goals.
“My vision is to make Spentacorp a preferred partner in the business industry, known not just for its exceptional & top quality products but also for the trust and reliability,” reiterates Ravi.
Quality Is Never Reactive
Quality, Spentacorp believes, is never reactive. It always requires a proactive approach. Its products go through multiple quality checks to ensure customers get the value they pay for.
Ravi mentions, “I can say with confidence that we are not only one of the earliest to get certified for Quality Management Systems (QMS) but are also among the very few with certifications from international bodies.”
Spentacorp rides high on its customer satisfaction score, proven expertise, and seamless & easy buying experience. The firm is also compliant with all necessary certifications like ISO 9001-2015 for Quality Management Systems, ISO 27001-2013 for Information Security (both from TUV/DAkkS, Germany), and an Ariba Supplier with a valid D-U-N-S number. Furthermore, it is also a Sedex member and SMETA audited for ethical trade practices.
Where Scouting Is A Common Practice
Rather than following the approach of cutting, copying, pasting and presenting the same products repeatedly to the client, Spentacorp keeps scouting for new products. The firm’s philosophy revolves around ‘need-based’ recommendations, ensuring that its product ideation and selection align perfectly with the client’s wants.
In the Founder’s words, “First and foremost we analyse the brand needs, the client’s purpose of gifting and of course the budget.”
That’s not it! Spentacorp stands differently in the market for its capability to design and develop products based on the client’s requirements and viability. With an extensive global network, the firm sources specific products from across the globe.
The Prestigious Clientele
Since the firm’s inception, Spentacorp has added many renowned names to its clientele list, which includes several large Indian and Multinational clients drawn across varied industry verticals. The firm has served clients from different industries like IT, ITES, FMCG, Pharmaceuticals, Banking and Investments.
‘The key to success is building relationships that go beyond a single transaction. Turning first-time customers into lifelong clients is the ultimate victory.’ Spentacorp does exactly the name. Most of its clients are returning customers with whom the firm has built a relationship of reliability and trust.
While commenting on the approach that Spentacorp follows when clients ask for personalisations, the Founder shares, “For every client, their company logo is sacrosanct and this is where our extensive industry experience comes into play. We don’t see ourselves as just service providers, rather work as consultants and partners for our clients. We have sometimes recommended our clients to either change the product or design so that the branding comes out in its best form. We deeply analyse the intricacies of the artwork, and the product selection and then advise the clients towards a tailor-made solution that aligns with their requirements. ”
Spentacorp’s Strength: The Team of Professionals
Spentacorp boasts a dedicated, creative and highly professional team that works tirelessly to provide the utmost service to its clients. Each team member brings their unique talent to the table, leading to impressive outcomes while brainstorming for new products and services. Through regular learning opportunities, they are encouraged to grow and shoulder bigger responsibilities.
Mr Varadarajan takes pride when he says, “We have team members coming with zero experience and now they can handle complex projects. All with a single-minded goal – Customer satisfaction.”
“Team Spentacorp is here to exceed the expectations of its customers, solidifying the firm’s position as the go-to choice in the world of corporate gifting.”
Exploring Challenges and Considerations in the Corporate Gifting Industry
The Corporate Gifting Industry holds a promising future ahead. However, there are important factors to keep in mind in this evolving environment.
Proper Knowledge and Credentials
It’s essential to be cautious of “fly-by-night” operators in the gifting industry. To ensure the effectiveness of the gifting initiatives, it’s crucial to choose a gifting partner with proven credentials. This includes evaluating their experience, track record, and the quality of their products and after-sales services. This due diligence will help you avoid partners who might not meet your organisation’s standards.
Embracing Digital Transformation
Many organisations are transitioning from traditional brick-and-mortar procurement models to more efficient and cost-effective digital solutions. This shift includes integrating gifting processes into spend management systems like punchout and catalogue-based buying. These digital tools can streamline the procurement process, enhance transparency, and help manage costs. Spentacorp is also using these tools to deliver top-notch services to its clients.
Creating company stores is a great way to empower employees to make personalised merchandise choices. This not only boosts employee engagement but also reinforces brand identity. However, it’s essential to partner with a provider who can effectively build and manage these stores to ensure they align with your branding and purchasing goals.
“Spentacorp rides high on its customer satisfaction score, proven expertise, and a seamless and easy buying experience.”