RIDA creating value with pragmatic, customer-centric approach

With an inspiring and assertive tagline ‘Seizing Today, Embracing Tomorrow…’, RIDA has been transforming the way climatic and technology solutions for buses & trucks are delivered in the GCC region for the last two decades. On the back of a fantastic 2022, the company is all set to make a foray into the highly potential Indian market this year. In this special & exclusive interview, Yazdani Qureshi, CEO, RIDA, tells N. Balasubramanian about his company’s evolution, value-driven and customer-centric approach, plans for the Indian market and lots more

Yazdani Qureshi, CEO, RIDA

Let’s start with a brief background about your company. Why, when, and how was RIDA founded? What is the purpose and vision of the company?

Evolving business environment presenting new challenges for growth day in and day out was the mother of all necessities that led to the formation of RIDA. The complex ecosystem that we operate in today has an underlying gap between technology producers and the end-users. RIDA particularly focuses on bridging the gap between the creation of products and its sale/usage.

The demanding financial requirements of performance have divided us into innovators, manufacturers, dealers / distributors, sellers and re-sellers of often a single product, with the focus being solely on the profit that each will make. However, across this supply chain, post the development of the product, there is not much focus on the needs of the customer or any value additions.

RIDA as an organization is dedicated to create value by capturing the existing resources, in an economical, customer-centric and profitable manner to deliver and showcase the true purpose of a product or service.

Our origins and operating fields are in the world’s most rapidly growing region, the GCC; We are a reputed OE supplier and operate in the B2B segment, with a product line for all the leading regional bus brands of both Asian and European origin. Our factory and dispatch center Is in the UAE, since our formation in 2002.

Through our association with leading multinational brands, we have collaboratively given climatic and technology solutions for buses & trucks of all specs and brands operating in the challenge middle eastern environment. Our expertise lie in solution development for modern vehicular needs.

Could you give us a brief on the range of products and services you offer? What position do you occupy in the automotive / commercial vehicle value chain?

RIDA is a localization partner for multinational brands of bespoke automotive temperature control systems mainly for MCVs and HCVs. Continuing its legacy, with a focus on engineering and tech-enabled automotive solutions, our Group is catering to the future of mobility with end-consumer needs in mind by adding value and localizing in the GCC, making goods and services affordable & accessible.

Addressing every challenge, there are key aspects of customization for all that sets us apart from the rest and based on which we build our competitive advantage.

RIDA is GCC’s & MENA’s largest and only industry-certified local content provider for internationally renowned automotive air-conditioning manufacturers for buses, trucks and refrigeration systems, offering an extensive range of integrated, smart and bespoke solutions.

RIDA is established with top-of-the-line sourcing, technical support, and manufacturing facilities, in UAE and India. We primarily offer bus climate and refrigeration solutions, for chassis ranging from 4-tonne to 24-tonne Gross Vehicle Weight (GVW) mainly, small, medium, and large buses and coaches and passenger vehicles.

RIDA is the only player in GCC’s CV market with a product line2 supported by its extensive service network spread across 9 regions, customized as per the requirements of the end-customer, bespoke and tailor made.

Which are the regions / geographies in which you are present? Please help us understand how you cater to these regions and the share of business from different markets / countries. What are your company’s USPs and why do you think customers choose RIDA over other options they have in the market?

In a traders’ paradise, RIDA is the only industrialized bus transport climate systems provider, with production, sales & aftersales infrastructural presence. We cater to 6 countries in one region, specifically through direct presence or through our customers’ dealer network.

Quite frankly, the greatest USP of RIDA is our thinking process and decision-making. Any organization, manufacturer, dealer or distributor, is existing for the purpose of delivering a specific task; however, RIDA is instilled in building competitive advantages for products, to both improve their sales and product usability and also connect with the customer.

Hence, I would say that our success or uniqueness is embedded in the decisions we make regarding services needed for introduction to use of a product. We have a service portfolio that includes, service solutions of manufacturing, sales and the most important one – aftersales.

Often in our industry, products of foreign origin and technology are very expensive for the market segment they intend to compete in. Now that’s a major entry barrier and growth repellent. We at RIDA have solutions to concerns such as this. For a product facing such a challenge, we have built a custom solution package that involves support for part producing or complete manufacturing of the product in the UAE, creation of sales portfolio, dealership engagement with service and aftersales support all under one roof and brand management.

Reaching the end customer through us, in contrast to that of through multiple channels of dealers and distributors, who essentially add zero value to the finished good but have exuberant trade margins, drastically improves sales possibilities by restricting the costs to only justified value additions. Furthermore, by encapsulating all activities pre and post sales to one party, improves accountability and personal connect to a product’s end user.

Lastly, a feather in our hat is our service network, operating in 6 regions across the GCC, capable of catering up to 3,000+ vehicles under warranty in a calendar year.

A trade relation with RIDA often gives product developers / innovators the competitive edge on the following benefits:

• Customs-free trade across GCC (Exempted as we are industry).

• Manufacturing capabilities making the product price competitive.

• Warranty, sales and After sales support through our service network.

• Better cost and quality advantages.

What are your plans for the Indian market? How important is the market for you and how do you plan to make an impact in the country?

RIDA has expansion plans in India through our sister company Buscool Pvt. Ltd. situated in Hyderabad. We plan to re-create the same business success story in the region by introducing premier multi-national brands, with localized customization making product suitable for the Indian market.

Aftersales support is a key aspect when it comes to keeping customers happy and satisfied. How does RIDA ensure this part is taken care of and your customers are satisfied and delighted and work with you for the long-term?

Nothing in the world of business, ensures persistent brand loyalty, as good aftersales and service does. We at RIDA, are proud on the end-to-end aftersales support we provide our customers.

In all the regions which have our AC systems, we have direct availability of skilled technicians, in both the largest customers premises and at the local service depot.

Furthermore, we have 3 mobile teams, available for on-call rapid response, reducing the overall product downtime. All these behind-the-scenes operations are made possible by our dedicated engineering staff, with the support of an impeccable in-house developed ERP system, making it possible for us to track vehicle management history, for up to 5 years, post the warranty period of up to 2 years.

Traditionally under one engineering solution, there are multiple products by different suppliers involved. For example, in an AC system, there is roof top, compressor, auxiliary engine and electronics, from a mix of OE brands, spreading from China to Brazil. RIDA specializes in providing service support for all these products to the customer under one policy making it a simpler process.

What are your medium- to long-term plans for the company and what position are you targeting – in terms of sales, market expansion and financials, by 2025 and by the end of the decade?

Technological disruptions are defining and influencing mobility habits globally and today’s value-focused preferences are driving the business operations of tomorrow. With climate, demographics, urbanization and rapid technological changes assuming center-stage, the future increasingly seems to be moving towards being autonomous, connected, electric, sustainable and shared.

As next-generation technologies and automotive worlds merge, we, at RIDA, are well prepared to embrace the future with new ‘Concepts’ and ‘Services’, to turnaround and transform the B2B & B2C programs for transport air-conditioning & refrigeration and to build a stronger consumer base overall. We believe that tomorrow belongs to those who prepare for it today. As responsible automotive equipment makers, we are committed to transforming the future of mobility and more.

As part of RIDA’s Roadmap for FY2023-25, we want to become the preferred customer-oriented made-in-UAE brand, consistently winning, by:

• Continuous introduction of new and improvised line of AC’s through channel partnering with multinational foreign brands

• Introduction of transport refrigeration systems (June 2023)

• Avail and maximize utilization of our industrial capabilities to make in the UAE

• Delivering superior financial returns

• Driving sustainable mobility solutions

• Exceeding customer expectations

• Creating a highly engaged workforce

We have gained an unprecedented amount of goodwill, through our performance and service to the market, and have had a fantastic 2022.

For 2023, we shall be ambitious, and accomplish our desire of self-sustenance, commercial comfort, and preferred international sales partner for multiple brands.

We shall represent our infinite desire to serve, infinite dreams, penchant for hunger and noble glory. As a company, our message and outlook for 2023 and beyond is, as RIDA, we dream for a better tomorrow, a tomorrow that defines us as those who are here to stay, strive and succeed.

An organization is not defined by the numbers it achieves but by the problems it solves in its centric ecosystem. We at RIDA aspire and strive to be a company devoted to problem solving; no matter what the concern be, we want to be the preferred solution provider, to the modern bus transport needs.

RIDA is committed to deliver cost and cash improvements. The next few years are going to be decisive for our company. We have to focus on strong operational excellence to deliver positive cash flows while making the right investments to be prepared for the future. We need to transform ourselves to be relevant in the world of future mobility. This will require us to form partnerships, develop mobility solutions and optimize our investment in the process. We have successfully catered to projects such Expo 2020, Qatar FIFA 2022, and are under prep for KSA 2030, World Cup Qualifiers and much more.

Witnessing evolving changes in the market every day, we will have a calibrated approach towards future investment and will adopt a robust growth strategy, open to collaborate with new and effective brands with the focus on successfully entering into sales & manufacturing partnership agreements with OE suppliers to manufacture and supply product line in the complete region. This backward integration by acquiring our suppliers’ operations in the region will not only ensure effective supply line but also volumize our turnover and profitability.

Encrusted in the purpose of bespoke customer experiences lies our values of integrity, responsibility, excellence, unity and pioneering. We at RIDA, are driven by our customers, our family, those who made our dreams come true, those who define us. The same shall continue in the years to come.

For brand collaborations visit ridame.ae or mail to info@ridame.ae