“What sets us apart is that we are perhaps the only consulting firm with proven cases of helping clients in creating tangible impacts in their businesses.”
Dr Vikram A Munshi (Founder & CEO, WhiteSpace Consulting & Capability Building)
“We are on a mission to help ambitious healthcare companies in their transformation journey by building a framework of sustainable business excellence,” states Dr Munshi, who leads WhiteSpace Consulting & Capability Building, a decade–old healthcare consulting firm in the industry.
In 1997, after completing a BPharm and an MBA, Dr Munshi began his journey into the pharmaceutical world, which led him to work at industry giants GSK and Ranbaxy across sales and marketing. In March 2010, despite having a comfortable career, something was missing. His yearning for a PhD made him enrol for the degree. He took a 1-year sabbatical. However, he took up some consulting projects during that time to continue to uphold family responsibilities. Surprisingly, his love for consultancy grew unexpectedly. By late 2011, he decided to continue in the same field. Influenced by a well-wisher’s advice that ‘companies buy from companies’, he incepted WhiteSpace Consulting and Capability Building in January 2012.
However, the initial phase presented hurdles in securing projects as doubts lingered within the network questioning the long-term commitment of a young consultant who had entered into the consultancy world with only one and a half years of experience. Small yet ambitious ventures entrusted the firm with challenging tasks, while larger corporations offered simpler projects initially, like training programs. Over five years, perseverance paid off, earning the trust of bigger companies in WhiteSpace Consulting with complex projects.
Insight, Strategy, Innovation
Over 12 years, WhiteSpace Consulting has served over 50 pharmaceutical & healthcare clients who’ve entrusted the firm with tackling their business challenges. Guiding them through this journey are the firm’s three pillars of expertise.
First comes Research and Insights, where the firm helps its clients collect insights about customer and consumer perception that help them understand customers better and devise a market-oriented strategy. The second offering includes Consulting and Capability Building, where the consultants help the clients lay out the strategic plan and help them execute it. This phase is where visions materialise into actionable strategies, driving tangible results. The third service is in the area of Innovations, where the firm helps its clients look at innovative ways of building transformative relationships with their key customers.
Where Marketing is the USP!
While there can be many distinguishing characteristics of consultant organisations, the one that sets WhiteSpace Consulting apart is their dedicated emphasis on marketing. The firm has a knack for delivering real, measurable results for its clients—a rarity in this industry.
Dr Munshi points out, “Very few consulting companies in our space can actually say this.” He further adds, “To achieve this, WhiteSpace is equipped with proprietary tools and frameworks that while being simple are not simplistic, which helps in application by the client.”
How Does WhiteSpace Build Trust with Clients?
Like a steady heartbeat, trust pulsates through every successful business. Dr Munshi believes that it is not just about addressing what the client wants but also delving deeper into what they truly need. This is crucial because, at times, clients themselves might not fully understand their needs.
WhiteSpace doesn’t accept projects unless the consultants are wholly convinced of delivering beyond the client’s expectations. Furthermore, client confidentiality is paramount at WhiteSpace. Even during pitching to a prospect, the firm refrains from sharing any confidential information of any client. These principles have helped WhiteSpace to foster relationships steeped in faith with its clients.
The WhiteSpace Team: Driven By Purpose
“I don’t think WhiteSpace is just a company, it’s actually a team; a team of intrinsically motivated and highly competent minds,” says Dr Munshi. He proudly mentions that all the core team members, at various stages, have quit their high-paying jobs at the peak of their careers, all for the sake of serving a greater purpose: helping clients. Everyone at the firm works as partners, not as employees, hunting projects on their own. While emphasising the importance of financial stability, the Founder mentions, “Helping the clients, for each one of us, is serious business and our livelihood. That seriousness keeps us on our toes to deliver success for a client.”
Sreemanta, leading Research & Insights, is the author of four successful syndicated reports, subscribed by clients. Parameswaran, (fondly called KNP in the firm), spearheads the commercial excellence practice. He is the man behind introducing the innovative Sales Fitness Index (SFI) that helps businesses understand whether there is scope to increase business at current investment or how much investment is needed to maintain the current business. Kedar heads innovation. He is a storehouse of ideas and helps healthcare firms build transformational relationships with their key customers.
What’s Next For WhiteSpace?
Success in business lies in constant evolution, not in staying stagnant. With the same mindset, WhiteSpace looks forward to helping more healthcare clients in different countries. In India, the aim is to diversify the client base to include a broad spectrum of the healthcare industry, including hospitals, diagnostic companies, medical devices and technology firms, as, in Dr Munshi’s words, “A strong patient-centric healthcare approach benefits everyone.”
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