April 19 2016, 16.49 PM IST || Pocket News Alert
FarEye started its operations in 2013 with Jabong-GoJavas as its client. Looking at the pain-points of the courier industry the three co-founders Kushal Nahata, Gautam Kumar and Gaurav Srivastava came up with an idea that helps in easy dispatching of jobs to the field workforce, provide real time coordination and analyse day-to-day operations. They sold their solution to Jabong-GoJavas without even making it. Their plan was brainstormed with the GoJavas team and was sold immediately – thus, FarEye was developed after getting its first client on board. It started off as a solution to solve the critical LMD issues but FarEye’s versatility & customizability made it conducive to any organization with distributed workforce. One day as usual they were in their office and randomly they were discussing on the courier challenges they see and the experience they faced etc. An idea triggered in their brains and they spoke to Rocket Internet venture Jabong about the idea. Then Jabong’s team immediately agreed to buy the product and this is how FarEye was sold without even making it. All this happened in July 2013 and there was no looking back.
1. Please share a brief about FarEye's business model.
FarEye, is SaaS-based mobility solution that helps in managing the Distributed Workforce Management Platform on mobile.
2. FarEye’s business model in three words:
With FarEye, service organisations can
(i) Assign and dispatch jobs to the workforce,
(ii) Get a 360 degree view of what's going on the field and
(iii) Analyse the field operations.
3. What is the problem that FarEye is solving?
The challenge of any field service is managing an emerging day and to understand how to deal with the unexpected without compromising on the productivity or letting customers’ down. FarEye helps the field service organisations in driving the productivity by leveraging the power of an integrated dynamic scheduling and mobile solution that reduces travel and idle time. Also., with deeper analytics we help our clients in driving continuous improvement. FarEye streamlines the processes and ultimately increase the number of jobs/deliveries/visits completed per day per field worker.
With FarEye., the service organisations can allocate the right people to the right tasks and thus increase the number of tasks per day. Scheduling workers against shortest route between jobs can minimize travel time and maximise productivity. For e.g., if there are 100 workers carrying out 5 jobs per day, it gives 1 billion possible combinations of those how jobs could be allocated.
We use Travelling Salesman Problem (TSP) algorithm., to allocate the appointments based on route and this reduces travel time and increase the productivity. With geographic plotting., locating the customer addresses is made easy.
By seamlessly integrating with existing workflow we ensure that the processes, people & data are streamlined. Also., we ensure that there is real-time coordination between the field executive, customer and the manager. With this the customers will get pre-stored messages & timely updates about their request. FarEye has the option to pre store messages and number which enable smooth communication and timely updates while the employee is on the move - customer is kept abreast/ kept in the loop.
Paperwork, rekeying data, manual workflows and not having access to key information are all factors that are detrimental to the productivity of your field workforce. With FarEye’s mobile solution., workforce is connected and the managers can gain an up to the minute view on activity and progress against schedule. In addition, field workers are able to instantly book repeat visits, order parts or schedule follow-up from the field, thereby streamlining processes. According to the research done by Aberdeen group, service organisations achieve an 88% performance in first time fix.
4. Impact on the end consumer with FarEye:
Cost Reduction:
73% decrease in delivery complain calls
40% in field service cost
28% in fuel expenses
Revenue Increase:
23% first-time delivery
27% same day appointment
40% jobs per day
5. What is the USP of the venture? How is it different from its competitors, if any?
FarEye is a customisable & configurable mobile application and our USP is as follows:
(i) Process Engine –
Tool with drag-drop functionality to create industry specific workflow
(ii) Job Engine –
Create multiple job types each with different flows
(iii) Analytics Engine –
A deeper insight helps in increasing the performance
6. What is company's future expansion plans and goals?
We are already present in 5 industry verticals in India, and we have quality number of clients in South East & Middle East. While strengthening our base in these regions we would be expanding to APAC & European markets.