 Nice to see all of you here. Today, I am going to spend a few minutes talking about the daily interactions we have. We meet customers on a daily basis, small, medium, start-ups, large, very large customers and we sometimes undertake joint visits with Majento. So, next few minutes, we are going to think of trends that we are seeing in the market, what we call the B2B2C. It is not B2B and B2C, but a new trend that is B2B2C. So, let me start by showing this. If you look at this slide, it represents commerce, all different delivery models in the market can be seen here right from international-sized online marketplaces. But what we mean by B2B2C trends is how the large big companies that fully relied on distributor networks previously, now are directly competing in the consumer space. So, they were only operating like large manufacturers, they were only in their B2B space. They left it for the B2C players to conduct the commerce, but now the big B2B companies the manufacturers are directly coming into the B2B space and they are trying to disrupt the market. So, this is kind of the essence of what I am going to be talking about. If you look in this whole slide, actually you will see only one B2B2C company in a true sense, I will leave it for next and that would be someone like Rakuten on those kinds who are really B2B. Most of the others are mostly in the B2C space. So what is exactly happening, you see the diagram on the top, the B2B players are actually jumping on and trying to consume the B2C space. So, there is a lot of disruption happening. This was started by Alibaba in 2013 because they were very close to manufacturers in China. They were able to spearhead and start this kind of model. Amazon continues to be in the B2C space. They have an Amazon wholesale, but they are not there yet. Now one big reason B2B players are able to meet B2C space is the governance regulations in many countries are opening up or rather they are being forced to open up. The governments are having to unshackle some legal and other government restrictions. And two is obviously the technology offerings today. Most of these complex models, we have Majento, we are talking about Salesforce and some other companies that provide technology offerings. So that is not a problem anymore. Three is yes, manufacturers now instead of selling through online marketplaces or other distribution channels want direct access to the customers. And obviously there are many major benefits if I am a major manufacturer going directly to customers. There are benefits, higher margins, lower costs. But most important they want is brand loyalty. They want to be able to be close to the customer, retain them and have a direct connect. This is where there is a conflict coming with their distribution channels or their sales channels. You had a established set of wholesalers and resellers carrying your products till today, last 30, 40 years. Suddenly now I am going direct to the customer and this is unsettling the whole industry. So when we meet these customers on a day to day basis, especially the large companies these days, this is the big challenge that they are facing how to kind of create an equilibrium between online shopping and their existing distributor and sales channels. So this is one big trend that you are seeing. And as this diagram represents from forestry research, this was the old model. You had a very streamlined way of selling, create a distributor channel, support them and then gain loyalty. But now if you look at that slide there are so many different ways in which a manufacturer inbound or outbound, if you look at it there are so many different players and interactions in the market. So this is what is how. And just to let you know, B2B to C actually represents 85% of the commerce industry space. So where B2C was operating till today basically is just one end of the segment until now these big companies are now slowly, they have started and then in the next few years they will be actually ruling the commerce world. The direct manufacturers would be ruling the world. This slide gives you some feel of along the same axis, along the same parameter how a B2B customer is different from a B2C customer. I'm not going to go point by point, but you would see if you just take one item, let's say this one, need to see if item S in the stock is what a B2C customer is. But a B2B customer would want to know to see where item is in stock. So both these are different worlds. B2B is obviously more mature, they carry a big business legacy with them. So obviously their models are more robust, whereas B2C is more in a slick world, they have come off late in a more trendy kind of world. So there is a big difference here. So again here the challenges that B2B are eating into B2C space and they are trying to manage all the challenges that come with it. First is what is B2B2C? So you have these manufacturers, for example, let's take Lazada. Just imagine what products they carry, basically they are made by some manufacturers or many manufacturers. Now imagine the challenge when all these manufacturers decide to go direct into the market. Now these are some of the B2C challenges companies will begin to face very soon because of this big food fashion, they will all want to direct channel into marketing in different ways. Now who are the B2B manufacturers? So they have certain set of characteristics. Then you have the B2B distributors, they are the ones who really carried their products till today. The retailers, wholesalers, sometimes the brick and mortar shops, we ourselves are a distributor of Magento platforms or we are a distributor and someday Magento may go direct. So these are some of the challenges everyone is facing. And just a typical profile of a B2B buyer is that they are looking to gain operational efficiencies without going into other parameters. So what a B2C buyer is looking for maybe you want a cheap product. We all when we shop we want a cheap product, the best product at cheap cost, but as a B2B buyer is looking from a different angle because these are all big large companies operating in a different model. Now this is what is happening. You have this B2C guys trying to keep their share or keep their steps but then you see B2B coming and trying to transgress into the space and this is going to, as we said, this is going to continue as we move forward. And again all the big customers we are seeing today are, we are seeing more of the large volume e-commerce all happening in this space, how the big large companies are transgressing into the B2C space. Now I'm just, these are a few customer slides that I've got courtesy of Magento. How these B2B players while going into C-space are seeing some tremendous results. Now in doing so what they have got right is basically the strategy of how to move, consolidate their entire ecosystem. Company like carrier enterprise who are in the HVSE air conditioning space, look at the kind of results they're waiting. But in doing so they have got certain what you call implementation or their strategic insights right. So I'm not going to go into detail here but it's just to show how manufacturers or companies like for example in this case carrier in going direct to the consumer by getting their strategies right and implementation, platform deployment are seeing some tremendous taxes. Just to give you an insight of how some customers are getting their strategies right. This is an example of a pharmaceutical distributor and retailer. They are actually a distributor themselves but how they are going into the market in a different way and seeing some increase in their performances because likewise the equipment manufacturers, these are all heavy duty asset companies that fully relied on distributed networks previously. Now with the modern e-commerce platforms B2B to C platforms they are able to go with fast launchers in different countries and again the kind of SKUs they carry are tremendous because of sheer number of spare parts that they carry. They are all huge companies, huge assets and again they are all now going direct into the market so they are seeing some tremendous attraction and then the last such example would be a flooring manufacturer again. Just to give you an example of how the trends are changing, how they are seeing some massive what you call momentum and increase in their margins and profits but then yes this whole game can be very challenging to implement because you are in the B2B, you are a very large company, you have huge back and legacy system so there are challenges to be overcome. Again we are not going to go into detail here. So one of the major challenge the companies are facing when large companies are facing when they go into direct interaction with customers is called what we call omni channel conflict management. So customers are brand centric so I as a consumer will buy a brand whether I buy online or I go to a physical store to buy, I will buy the product. So as a manufacturer now I know that my brand is good enough, a consumer is going to buy. Now my challenge is how do I manage the expectation of a consumer on the left hand side and my distributors on the right hand side. So now I have to create an equilibrium so keep all parties happy. This is the omni channel, keep all parties happy. So in doing so I have to ensure that my strategy as a large manufacturer the customer experience the digital marketing or the marketplace strategy is all again in equilibrium. For example large manufacturers now are giving equal kind of promotions for online selling a separate kind of promotions for the retail go to the shop and buy and separate promotions for the wholesalers all mutually exclusive. So they are keeping all parties happy in the ecosystem and I guess this is the only way they can move forward in the market and the good thing is that you have platforms today all the leading e-commerce platforms that support these kind of models if you get your strategy right. Technology now is not an issue, it is more of getting a business model, your business strategy is right. So all these things can be managed. The second obviously the most important is the e-commerce platform considerations if you go line by line these are some of the major challenges B2C or even B2C customers are facing when you go multinational when your number of SKUs are running into millions I am not going to read but these are some of the major technical challenges that they are having to address on their road maps. But again these can easily be overcome with the technology platforms that are available obviously customization and configuration is a major player especially getting your ERPs, ERM integration right. A host of other things we need to plan in a proper way but technology exists today where all these can be accomplished. So finally I mean to summarize what we are seeing is that when we go and talk to the large B2B customers when they are planning their B2B2C strategies one way is you have this kind of very complex very nice thousands of different activities in one sheet but most of these customers would not progress very far. They themselves say that the time is the sheer dynamism in the industry does not allow for these kind of what you call these kind of multiple activities. So instead this is the whole point of putting a slide is once they have their business model the business what you call end to end metrics what I mean by end to end metric here is let's assume you are a equipment manufacturer manufacturing a TV you are say rolling out about 3000 TVs this month you should have an idea of where each TV is going to go is it going to be bought by what we mean by not each TV at least a percentage what will be a metric as you should know that I am rolling out 3000 TVs this month probably 50% would be bought by online shoppers probably another 20% would be bought by my through my distributor network another 20% through you know marketplaces. So you should have a very clear idea on the overall metrics you know as a company again as I mentioned the implementation aspects are very complex in this all you know whether you use Majento or Salesforce or SAP the implementation aspect always there but then again you know you should have the metrics at each and every point I mean each and every circle that you see here would have maybe 30 40 metrics but then once you have the metrics right again when we talk to the CXOS of these large companies they are most focused on this metrics and I think and the whole industry sees that it's not just going about coming up with a very complex plan but having the whole business model consolidated into a very clear and actionable you know a metric driven plan is the best way to go. So with this I end my presentation and thank you for listening and if you have any questions I'll be more than willing to answer yeah no questions okay no questions then I'll leave it to I'll hand it over back to Lalith yeah yeah