HYDERABAD, India, April 24, 2019 /PRNewswire/ --
Starting in Hyderabad from 2 seats cramped into a cabin back in 2016 to setting up dedicated regional office in Bengaluru and Mumbai in 2018 and having successfully raised the 1st round of funding, the story of MovingNow's growth is nothing short of meteoric. With doubled up projected revenues for 2019 and illustrious customers like JK Tyres, Water Health, Govt. of Telengana and other large companies in just 2 years after inception, it is emerging as a distinct category leader in the logistics space in India.
MovingNow is a tech-enabled logistics startup in India that provides consumers with automated pricing for local movement of goods, using their proprietary pricing algorithm, and offers shipment negotiations to home and industry customers for both Part and Full truck load for long distance transportation. They offer services from an array of Packers and Movers and Transporters with spare capacity trucks where their technology optimizes cost and this benefit is passed on to the customers.
As an asset-light company that works on an aggregation model, MovingNow does not move the shipment on its own and therefore does not compete with the established logistics companies in India. It offers a platform to both ends of the business spectrum, the transporter and the consumer, and helps them on four aspects: First, the consumer is provided with the MRP for shipping their goods locally, in a market where pricing has so far been unstructured and largely arbitrary. Secondly, the high volume shippers get to negotiate a better price with the transporter through technology and analytics. Thirdly, they equip the transporters with a best-in-class dashboard that provides them business intelligence to help run their business from a demand-side perspective. Fourthly, all paperwork for the complete logistics value-chain is automated - Lorry receipts, freight invoices, e-Way Bills, etc.
Starting from a consumer company, MovingNow has now expanded by adding full-fledged B2B business operations. Customers satisfied with their household shipment have often acted as brand ambassadors, referring MovingNow to the industry, swearing by their commitment to quality. This has helped to rapidly grow the B2B arm of the business, making it the highest revenue earner. Currently, MovingNow is the only logistics disruptor in India to be present in both B2C as well as B2B segments. All other competitors are either an only household movements or only business shipping entities. MovingNow has emerged as a specialist in part load shipments for SME's and Motorsports logistics, providing logistics support to most of the Motorsports companies in India.
The real MovingNow advantage is this incredibly skilled team that has come together. They started with a small team of highly experienced 40-plus business and technology leaders committed to building a pricing algorithm that would benefit the consumers and then figured out how to productize it - either on an ERP-model or by providing stand-alone links. This eventually led to the creation of a world-class ERP that has been built over the last 2.5 years. Over time, younger members have been added to the team - people who, for the first time in their lives, got an opportunity to make crucial business decisions. The millennials in the team add a lot of value through their encyclopedic knowledge and bring in a lot of creativity, listening skills and attention to detail. MovingNow has managed to hire and retain quality talent by offering a great work environment and stimulating challenges.
A lot of investment has gone into the software platform. It started off as a spreadsheet, and evolved into a complex pricing algorithm determining the savings an individual can accrue by using it. Once designed, this pricing algorithm was integrated into the ERP that is developed using cutting-edge technology. Over further iterations the algorithm has been integrated into the sales CRM software, doubling up the sales team's capabilities from where it was a year ago. MovingNow is now a full-scale technology company that has an intelligent and strategic inside sales team, as opposed to the conventional negotiators with pens and calculators.
The use of technology creates stickiness with the customers. Not just by calculating the amount of freight it is, but by showing them how much they have saved using the MovingNow network of spare capacity trucks which is made visible through the data. Going forward, technology is going to be the company's main priority. MovingNow believes in giving back to the community, not just in money, but also time and effort.