Pranay
Wadyalkar
MD / Business Advisor · OMS Software
From Tata Motors in India to founding Australia's largest privately owned testing laboratory — and then building the software platform to run them all.
If machines can work for you, why not become lazy by implementing a robust system that shall work for you — while you are sipping a beverage at a beach.
— Pranay Wadyalkar, Founder, OMS Software
The Beginning
From India to Australia — Necessity as the Greatest Teacher
Born and raised in one of the slum-like localities in India, Pranay completed his studies in Metallurgy and then took a job at Tata Motors — spending seven years in the automotive manufacturing sector.
After immigrating to Australia in 2001, he approached every metallurgical lab he could find and took the first job offered — a laboratory set up by Public Transport Victoria and later privatised. He describes falling into the TIC sector "inadvertently."
As a migrant with a "necessity for survival," he learned every aspect of a laboratory — Metallurgy, mechanical testing, chemical testing, refractories, ceramics, occupational hygiene (asbestos, air, oil, water), NDT, inspections, and welding procedures — while climbing the management ladder and concurrently studying at RMIT University.
"Every day was a learning day for those 7 years while I worked in that lab. Most importantly, I was so happy thinking that I was getting paid to learn while working."
The Entrepreneurial Leap
LMATS, then OMS — Getting Paid to Learn, Twice Over
After experiencing multiple acquisitions of his employer by ASX-listed companies, Pranay decided to start his own business — to have his own identity in the world of TIC.
In 2008, he founded LMATS — a Testing, Inspection and Certification business that grew rapidly across Australia. While building LMATS, he learnt entrepreneurship, organic growth strategy, acquisitions, and management at scale.
It was during this period that he identified the gap: there was no ERP system for managing laboratories that could comply with ISO 17025 / 17020. This sparked the next journey — building OMS, a comprehensive LIMS+ERP platform for laboratories.
In 2021, he transitioned to OMS Software full time — to help fellow TIC entrepreneurs and managers by sharing his entrepreneurial experience and how to excel in a lab enterprise.
2001
Arrived in Australia
2008
Founded LMATS
2021
Full-time at OMS
Giving Back
Thousands of Volunteer Hours at AINDT
While building his businesses, Pranay donated thousands of hours to the Australian Institute for NDT (AINDT) — progressing from the Victoria branch council all the way to Federal President, and later International voting delegate at ICNDT and APFNDT.
Victoria Branch Council Member
Joined in 2004 after being requested to join
Federal Council Representative
Elevated within a year after sharing ideas
Honorary Secretary
Elected within 2 years for too many good ideas
Treasurer
Simplified complex budgeting to clear PPS financial reporting
Federal President
Established AINDT's independent office in Melbourne
International Voting Delegate
ICNDT and APFNDT — global exposure and recognition
Leadership Philosophy
In 3 Words Only
LEARN
TEACH
DELEGATE
Be lazy — productively. Initially learn everything yourself. Then teach others around you. Then delegate to empower your staff. They will do wonders for you. Your empowered staff provide the leadership; your implemented system does the management.
On managing priorities: Complete simple tasks first — this cuts down the list and gives the satisfaction of completion and greater energy for critical work. Tackle the most critical task in the early morning when the brain is unloaded.
In His Own Words
There is greater 'Demand' than the available 'Source'. This is leading to exceptionally high remuneration cost and a reduction in quality due to employment of unskilled personnel.
On the TIC industry's biggest challenge
I utilised available high quality skilled personnel, tapping their brain to create OMS so that the system can guide, drive and assist the unskilled personnel who would eventually become high quality skilled personnel.
On how OMS solves the skills shortage
Striking a balance between professional life, volunteer work, and family has been my biggest challenge. This experience became a turning point — with unwavering support from my wife, who has been my rock throughout everything.
On personal challenges and family
I never chased money. I chase success and that provided necessary income. Truthfully, I am very lazy. Initially, I learn, then teach others around me, then delegate.
On his approach to success
Full Feature
Read the Complete Red Swan Partners Spotlight
Published in Red Swan Partners' Successful Leaders in the TIC Industry series.
The Software Pranay Built for Labs Like Yours
OMS was built by someone who ran labs — not just programmed for them. Book a demo to see how Australia's leading lab management platform can transform your operations.