Transforming the Retail Technology with Exclusive SAAS Product line
“Startups are game-changer in the competitive business world as they work on innovative ideas and have potential to provide cost-effective products and services,” expressed the Founder & CEO of Olik, Ashish Jain-striking up the virtual conversation with us.
As this exclusive edition highlights the list of some promising startups, we concluded to feature Olik, a retail technology startup. After addressing the instrumental role of start-ups in the business community, he forged ahead to explain the business portfolio and other aspects of this venture.
A GLANCE AT THE COMPANY PROFILE
Olik is a SAAS-based platform that is engaged in digitalizing retail experiences with innovative and tech-driven solutions in the market. The company was conceptualized in July 2019 with an exclusive goal to create a marketplace that helps end-users reduce waiting time across different sectors, including food courts, salons, restaurants, and grocery stores. As these categories got massively impacted by the pandemic, they started exploring emerging growth options and saw a huge untapped opportunity to disrupt retail experiences through technology- and pivoted to the ‘Enterprise SAAS’ model in 2020.
Olik hustled a lot in its way through the first few months of the business operations- juggling between multiple things at a time, it was often difficult for the company to identify its priorities. Gradually, Olik started growing itself by hiring dynamic individuals with a vibrant array of skills and learning a lot from mistakes. While growing at a brisk pace, it embraced positivity and tried to disrupt the retail experience through technology in a unique manner. The most important traits of Olik’s journey have been adaptation and agility with changing business circumstances.
With a mission to enable businesses with digital technology to ensure business continuity- the company is relentlessly growinwith a vision to be a global leader in digitizing retail experiences. Ashish says that most of the company’s traction is through organic growth based on client referrals and some outbound LinkedIn prospecting. Also, as they have developed a couple of products with proven demand, Olik is stepping ahead to pour in investments to capture greater market share.
INNOVATIVE SERVICE LINE
Appointment Booking & Traffic Management
- Accept online pre-bookings from the client’s website to offer a better customer experience
- Seamless in-store traffic management resulting in zero waiting time for customer
- Digital walk-in management based on real traffic
Workshop Management & Analytics
- Offer premium post-sales experience by eliminating waiting time & hassle-free pre-booking
- Send real-time status notifications to customers
- Improve workshop efficiency by ensuring better accountability and visibility
- Job Sheet management by technicians
- Performance management through comprehensive analytics and customer feedback
Repair Hub Management
- Hassle-free spot bookings for product repairs
- Keep customers notified through real-time Email and WhatsApp notifications
- Drive better efficiency and reduce operational costs by automating repair workflows
- Increase customer satisfaction by gathering feedback and giving analytical insights on repair staff
“Take care of your employees, they will take care of the business,”- Ashish. A customer and service-oriented company can benefit a lot from embodying this culture since employee satisfaction and living up to customer expectations are more likely. Moreover, when the normal is advancing, it’s important to ensure that employees are given the flexibility to work from anywhere- be involved in critical decision making, and also given time off to relax. Commitment and self-drive are two traits that we have focused on strongly imbibing in each of our team members from the day of inception.
By analyzing and understanding its demographic and ideal customer in a better way, Olik is heading towards identifying new and emerging business opportunities. Besides its presence in 4 well-established countries, the team is currently doing 2 more international implementations and will soon be expanding to more markets in South Asia & Europe.
During the initial journey, the company was entirely focused on building the initial product and evaluating if this is adding value for the clients and if they will actually pay for the product.
In the next phase where they stand now, they are focusing on building a sales machinery, setting up a demand engine, building a product suite, setting up processes for faster integration, better documentation, laying seeds for international expansion (both in terms of product as well as GTM).
Olik has collaborated with some of the biggest global businesses across different sectors. The collective team effort has made it possible for the company to onboard various global retailers, including IKEA, Decathlon, a global fashion brand, and more. Olik is striving to create more opportunities for time optimization and management.
TOKEN OF ADVICE
As we asked Ashish to share some handy tips with the aspiring business leaders, he responded by saying, “Acquiring a few clients initially is a big challenge for a start-up. We need to find opportunities from the problems around us and constantly speak to customers and clients. As a start-up, we need to be agile so that we are real time in problem-solving, design, development, and deployment. To be competent in the business, we need to upgrade almost daily and be ready for the future scope.
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