Ajay Harinath Singh Greatest Brand Leader 2018-2019

Ravi B. Goyal
Leveraging Technology
for rapid Growth
The Founder & CMD of AGS Transact Technologies Limited, Ravi B. Goyal is the man who is efficiently
spearheading the overall operations of the firm and its subsidiaries. Under his leadership, the organization
has carved out a niche for itself by emerging as one of the leading providers of end-to-end cash, digital
payment solutions and automation technology across banking, retail, petroleum and transit sectors
Starting his professional journey
as a service engineer in DCM
Computers and Byte System, Ravi
“realized how fast technology was evolving
and the potential it had.” Describing his
growth saga, he elaborates, “I embarked
on my entrepreneurial journey back
in 1992 by setting up a proprietorship
concern Advanced Graphic Systems. We
were the pioneers in computer-aided
textile designing software. Subsequently,
I established AGS Transact Technologies
Limited (earlier known as AGS InfoTech
Private Ltd.) in 2002 and forayed into the
payment technology space.”
Taking pride in his achievements, he
says, “It has been a satisfying journey so
far. I am glad that we have been enabling
transactions across sectors and simplifying
everyday lives of people for the past 25
years.”
Ravi has been instrumental in
introducing services of global giants like
Fast & Fluid Management (Netherlands),
Diebold-Nixdorf (earlier Wincor Nixdorf,
Germany) and ACI Worldwide (US). Under
his leadership, the company has clocked
a revenue of INR 18,057.42mn from
operations as on March 31, 2019 and
processed approx. 936.83 mn switching
transactions in FY 19. By virtue of his
quintessential leadership, the company
has installed and maintained/managed
approx. 72,000 ATMs for leading banks.
It has also installed approx. 40,000 cash
billing terminals at large retail stores and
approx. 1,40,000 merchant POS terminals
across big and small retailers. It has
supplied approx. 72,400 colour dispensing
machines for leading paint companies
and automated approx. 11000 petroleum
outlets for leading oil companies.
Leading His Way to the Top
Leadership is not only about holding a
position of eminence; it’s much more than
that. A true leader is someone who listens
without being condescending and has a
vision and passion to make things happen.
As an incisive, passionate and revolutionary
leader, Ravi has gained the admiration of
both his principals and clients for being
an inspirational personality, capable of
delivering the unthinkable.
Throwing light upon his leadership style,
Ravi reminisces, “I started with very few
“To all youngsters moving away from
their comfort zone to build their own
businesses; my advice to you is to have a
vision, to believe in a value system and
to never compromise on hard work”
employees, who are still a part of the AGS
family in different roles. I believe that every
employee has his/her own leadership style
and it is important to give them a certain
level of freedom to drive the business and
also grow and experiment. Technology is
at the core of the AGS Group’s foundation.
It is evolving at a faster pace than ever,
and so are we. We are always looking for
individuals who have the zeal to grow
along with the organization. Many business
heads have stayed with us for more than a
decade.”
According to Ravi, “‘Motivation’ is an
essential characteristic of a good leader.
A self-motivated leader will have a better
chance of driving the business successfully.
Motivated employees can bring exceptional
results for a team/company. Also, in some
cases, it can also help an organization or a
team sail through tough times.”
Ravi is a leader who believes in evolving
consistently and enriching himself with
new knowledge and experiences. Sharing
his views on growing and developing
as a leader continuously, he says, “In
my professional journey of 25+ years,
one principle that I have stood by is that
learning is a continuous process and there
is always something new to learn. I stay
abreast of the new trends and technology
around the world which may have an
impact on our ecosystem.”
Talking about the person who had a
tremendous impact on him as a leader,
he says, “I idolize my grandfather, Shri
Kunjbihariji S. Goyal, from whom I have
learnt the most important life lessons
that press upon hard-work and honesty.
These two attributes are also embedded
in the vision of AGS Transact Technologies
Limited (AGSTTL).”
Creating a Holistic Employee
Experience
Being well aware of the fact that employees
are the foundation of an organization and
their everyday experiences are key to
its success, Ravi has always focused on
providing a better employee experience.
He is of the view that when companies
60 | india’s greatest leaders 2019-20 |