The Workforce Wonder
According to International Telecommunication Union, says FarEye, there are 1.3 billion deskless workers globally who aren't technologically driven
Kushal Nahata and his two batch mates Gautam Kumar and Gaurav Srivastav are typical robotics freak soaked into machines and softwares to knock some innovation into them for improved human use. Graduating in electronics in 2009, for following three years, the trio successfully dabbled with couple of innovations and training engineering students in robotics.
In 2012, in their everlasting expedition to look for gaps across industries that technology can fill stumbled upon one of the fundamental issues in logistics - opaqueness in tracking field workforce and movement of deliveries. FarEye, launched in 2013, cracks that problem for businesses.
Software as a service platform FarEye is a logistics management solution for businesses to optimize their deskless workforce engaged in logistics and field service operations. Businesses usually suffers from high operational costs in managing the entire supply chain, from first mile to the last mile, scheduling dispatches and lack of information for field workers along with broken communication between different departments and field staff, failed delivery attempts etc.
"Our mobile solution offers real time information about logistics movement and help companies in scheduling and dispatching the jobs to its field workforce. Through artificial intelligence capabilities and smart analytics, brands can enhance their customers' experience with updates on the go," says Nahata, CoFounder and CEO, FarEye.
The company caters to over 75 business including Amway India, Blue Dart - DHL, Hero FinCorp, DTDC, Future Group, Landmark Group, Hitachi etc., across 15 countries.
Nahata is cognizant of the fact that technology has aspired consumers to seek least time for delivering products and hence, brand loyalty can only guarantee so much growth. The pressure, in turn, from customer expectations has scaled up for businesses to invest in streamlining their delivery processes and maximize man hours at minimum costs. "Speed is the new loyalty factor for customers. Execution and delivering on time is the only way for companies to retain and grow their consumer base," he adds. FarEye was among the 250 of the prestigious "Deloitte Tech Fast500 Asia Pacific' list of 2016.
Aiming Global Workforce
According to International Telecommunication Union, says FarEye, there are 1.3 billion deskless workers globally who aren't technologically driven. And that's the vision Nahata has to empower them with solutions that makes them more efficient. "We are trying to address the bigger goal of making technology available to the 1.3 billion deskless workforce globally." FarEye's mobile app for field workers allows them to accept tasks and for managers to generate and distribute tasks.
The worker can access task details, customer history through simple yet intuitive user interface. "Around one million transactions are performed by our customers every day that increases their first delivery attempt success rate by 22 per cent and reduce operation cost by 31 per cent. It also cuts down the fuel costs by 28 per cent approximately," maintains Nahata.
The solutions offered by FarEye cater to logistics, insurance, pathology, service and maintenance, and retail. Rachit Mongia, Executive Vice President, Bajaj Capital Insurance Broking validates the efficiency brought in by FarEye solutions.
"FarEye's geo-tagging and tracking software ensured flawless operations for us leaving no scope for misinformation. It has helped us increase customer visits by 66 per cent," he said. "Going forward we aim to make logistics 100 per cent visible to all stakeholders," concludes Nahata.
Level Playing Field
Launched in 2013, Delhi
Over 200 per cent growth in last three years
50+ million deliveries enabled per month
More than 75 large enterprise clients
Presence in South East Asia, Middle East, UK, Europe and USA
$3.5 million raised by SAIF Partners in June 2016
(This article was first published in the June issue of Entrepreneur Magazine. To subscribe, click here)