Pop Quiz, Monday with Kanchan Kamdar

Kanchan Kamdar

The Pop Quiz, Monday is a fun little exam that we love to give to savvy business owners. The examination is not a surprise after all since the interviewee already knew about the questions in advance. However, we can always pretend and have fun with the scenario of a young entrepreneur sitting in class nervously biting on their pencil. They are ready to take a pop quiz on a chapter that they were supposed to read the night before. Instead, they played Metroid all night on their SNES (Oops, this was me in high school). The real purpose of the pop quiz is that this is a fun way to introduce business tips from real-world experiences that you can not learn in a classroom. We want to thank our entrepreneur for being a good sport and volunteering their time to answer a few questions to help our community grow from their knowledge.

I want to introduce you to our guest today who will be taking our Pop Quiz Monday.

Can you please tell everyone your name?
Kanchan Kamdar

Kanchan Kamdar
Photo credit: Kanchan Kamdar

What is your job role?
Managing Director, Automated Payment Transfer Ltd

Tell us about your company?
APT LTD has created iConnect, a BACS approved payment service for the processing of Direct Debit & Direct Credit in the UK. Only software solutions that have passed a number of rigorous testing and approval processes are allowed to connect to Bacstel-IP for BACS Processing. ‘iConnect’ was the first hosted cloud solution in UK and processes over 40 million payments annually with a value of over £40 billion.

What do you love most about your job?
Collaboration. “I love my job because the people I work with share the same positive vision. Our goal at APT is to be one of the leaders of the new financial changes and represent our customers’ needs in the process. Hence we are expanding our team and working on a few very exciting projects”.

Work-Life Balance. “I love that I have a great degree of control and freedom within my job. I have a great balance of work and family life as I am a wife and mother of 3 beautiful children.”

What motivates you to get up every day and go to work?
I strive for success in the professional space. I believe that with the hard work and the help of our talented team, we will be able to bring a positive change to UK’s payment industry to help our clients to have an uncompromising cashflow efficiency.

How do your co-workers inspire you?
All my employees take their initiative to help the business run smoothly. As a Managing Director, I don’t have to worry about babysitting my staff and never end up picking up their slack. I go into work, and find that my team always take their initiative and I am happy to compliment them for their efforts!

How do you have fun at work (team building, pranks, etc..)?
We try to have an informal office atmosphere, where everyone is encouraged to make jokes and always help each other. We also do occasional team building activities to bond our tight-knit team even more, and they do help!

What are some of the challenges of your job?
When I overtook the business, my biggest challenge was how to let my working colleagues know that now I am their boss.

Now the biggest challenge is how to keep up with fast-moving payments’ technology industry and find the right balance in obtaining the right information of where it all goes. At the moment there is no main regulating body, and many different initiatives are coming up, which means that to develop next payments’ solution will take a lot of experimentation and, most possibly, mistakes along the way.

What are some lessons learned from a past project that you can share with us?
I started a brand new business, in the beauty industry and later discovered that I wanted to concentrate more on APT. Therefore, I decided to sell the business to the Beauty Salon Manager whom I had employed. She was initially anxious about taking the risk and didn’t think she would be able to take the business forward. With my expertise and encouragement together with her knowledge, she has now been successfully running the beauty business for over two years. Mentoring and encouraging another woman in business has been one of my best experiences.

What advice would you give to someone who is starting in your industry?
I am fortunate enough to have a wide diversity of friends and family that are different professions that can guide me and provide advice in the right direction. Hence I would suggest to surround yourself with a strong support network, as they will be the ones, which will help you not to give in the moment of crisis.

Thank you for taking our pop quiz today. You get an A+ for effort. You can learn more about our interviewee and their business by visiting them on the web:

https://www.aptbacs.co.uk
https://twitter.com/AptLtd

Author: Ricky Singh, MBA

Editor of The Startup Growth.

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