FarEye, A Global IT Start-up Emerges As End-To-End Technology Enabler For Hyperlocals, Ecommerce & Logistics

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FarEye

In the present business world, success depends on how quickly you reach out to the customer, and enhance customer experience. Companies in all the industry verticals are lagging on their productivity and thereby the revenue because of no proper automation of processes and field workforce. After seeing the challenges of Workforce Management a New Delhi-based startup have developed the tools to empower the stakeholders of an enterprise like, Manager, Field Worker & Customer.

FarEye, is a Mobile Workforce Management Platform. It is a customizable Enterprise Mobility Platform that automates processes and field workforce thus helping the enterprises in delighting their customers.

FarEye empowers all the stakeholders involved. For e.g.: From the manager’s point of view  he knows the productivity of his team, can address customer vagaries due to identification and traction of any field worker, identify problem areas through heat maps and other analytical reports, his real time reporting allows him to make smarter decisions and address concerns. From the field worker’s point of view FarEye reduces administrative work (manual data entry, cash reconciliation etc.) leading to increased productivity, increased first-attempts. The time that was used to generate these reports can now be used more productively. From the customer’s point of view FarEye includes last minute request, addresses ad-hoc requests, gives an option to the consumer to rate the experience at point of service, reduces TAT and there is an increased responsiveness towards the customer.

Hyperlocal Industry:

There has been a huge investment in the Hyperlocals and the marketplaces industry is seeing new players every now and then.

With new business models like cooked food delivery, online grocery, handyman & home services, ordering from restaurants leading the Hyperlocal industry, experts see a massive growth in this industry. E.g., All online grocery firms together account for merely 0.1% of the overall grocery industry that is pegged at $ 350 bn. In the home-services sector, more than 10,000 queries are directed to the home services start-ups. In the recent past, 54% of the consumers have purchased either a product or a service from their smartphones. As the m-commerce market is expected to grow by 55%, from its present size of $2bn to $19bn by 2019, the number of players in the hyperlocal industry is expected to grow.FarEye Hyperlocal

The success in Hyperlocal and Marketplace depends on the quality of the product and the service. Aspirational consumers are demanding quick delivery of the service along with timely notifications to the customers. Now-a-days, consumers are chasing ambitious goals in a country where people increasingly have less time for domestic chores & prefer being served.

Now the challenge that remains is how quickly you resolve your operational issues. If we look at the Hyperlocal industry, once the customer places an order the first pain point lies in assigning the nearest delivery guy or service person to the customer. Once it is assigned, it all depends on how quickly your delivery guy reaches your customer. Here, locating customer addresses and finding out the nearest possible route would be a challenge. Once the service is done collecting customer feedback is important as it helps in measuring customer satisfaction. And feedback helps in improving product or service, by giving proper insights and help in customer retention. Once the service is done only 35% of the customers go online and rate the service. Though, rating given by customer seems low it helps in getting the business insights like analytics etc.

Marketplace:

“Marketplace” model is responsible for bringing supply and demand on one platform. Marketplace companies do not own any inventory of their own – it is a platform to connect sellers and buyer. With customer demanding wide variety of products, ecommerce companies are investing time and resources in increasing their supplier base. Better sales management leads to improved product development, optimized distribution, better planning and decisions, improved staff quality and many more. The challenges faced by an ecommerce company are: shortage of products, delay in the processing the order due to lack of proper automation and delivery of products.

With customer demanding wide variety of products, companies are investing time and resources in increasing their supplier base along with reducing the order-to-delivery cycle time. To help the ecommerce players, FarEye have developed a customized solution for the same which helps in:

  • On-boarding of sellers
  • Sellers’ app for Product Management
  • Delivery
Logistics :

An efficient last mile network and time-bound delivery will play a key role in determining the success of an e-commerce firm, thereby increasing the pressure on the logistics providers. Last mile Delivery accounts for 35% of the total delivery cost. It is the only point of contact between the buyer and seller thereby completing the buying process and acting as the biggest contributor of customer satisfaction. Currently e-commerce accounts for 15-20% of the logistics revenue and is expected to grow 70 times and generate revenue $2.6 billion by 2020. An efficient last mile network and time-bound delivery will play a key role in determining the success of an e-commerce firm, thereby increasing the pressure on the logistics providers.FarEye Logistics

Dispatching the jobs, admin work, tracking of delivery guys, cash reconciliation are the challenges faced by the Logistics Managers. FarEye have developed a solution that helps in dispatching the jobs, scheduling, tracking of workforce, real time co-ordination, Statistical reports, Cash reconciliation, Heat Maps etc.

FarEye was started in 2013 by three co-founders Kushal Nahata, Gaurav Srivastava and Gautam Kumar. The company currently does more than one million transactions per day for clients like Gojavas, Fabfurnish, Snapdeal, DeliveryyKing, Pepperfry to name a few.

“To help companies work better we are moving towards Internet of Things (IoT) , Internet of Logistics (IoL), Big Data Analytics etc. To help the companies beat the “Diwali rush” we have designed a robust solution for Hyperlocals, Marketplace/ecommerce and Logistics,” says Kushal Nahata, CEO & co-founder of FarEye.

Siddhartha Sarma

Siddhartha Sarma, a Microsoft Partner and a startup freak. Pursuing his B. Tech. in Instrumentation and Control engineering at University of Petroleum and Energy Studies, Dehradun. He has a great passion towards entrepreneurship and has founded his own startup, Induskul. Apart from writing, he is passionate about computer programing and making new relationship in his professional network.