Digital platforms connecting those in need with those who have

Digital platforms connect those in need with those who have.

Uber and its success with revamping the cab hire market has set off an industry-wide digital transformation, reports Times of India. Like Uber's platform connects commuters and drivers, businesses across sectors are attempting to create/offer digital platforms to serve on-demand needs. Giving a makeover to logistics and the trucking industry, banking and jobs, the Uber model or "Uberisation" is disrupting multiple industries delivery. Industry coinage for uberisation — disruption through digital platforms to facilitate peer-to-peer transactions i.e. a platform that connects those who need and those who have, in a manner that is quick and efficient, using the telecom backbone.

Take the logistics industry, for instance. E-commerce companies are able to provide seamless deliveries to places as distant as Gangtok and Jhumri Telaiya. Traditional companies like DTDC and Blue Dart have revamped their tech systems to adopt the "uber" way. "We have a control tower to track every partner using a smart device, monitor delivery status, distance travelled, fuel tracking, stops made, etc which is creating a large database of every delivery made. Mapping at the backend and an algorithm allocates deliveries to the most capable and optimal delivery partner. This model is helping us scale and work in an agile manner," said Abhishek Chakraborty, executive director, DTDC.

Companies like Ramco Systems and FarEye are enabling companies to go the digital way. "This model enables the workforce to be more efficient while incentivising them. Industry is going through a change, not just in India but world over," said Kushal Nahata, co-founder, FarEye who works with companies like Ecom Express, Hitachi and Blue Dart. Nahata adds that this model would be best applicable for any industry that has teams on ground, spread across geographies such as sales, logistics or even service.

The truck industry, notoriously famous for being disorganized and fragmented is now being digitised by multiple startups like Truckola, Porter, i-Loads and Black Buck. A digital network of verified transport owners provide seamless connectivity among load providers, logistics agents, brokers and transporters. All information related to trucks, drivers and trips are digitized and a GPS device fitted in trucks helps in tracking movement of packages.

While the phenomenon is being embraced by the industry internally, players like Bring Me That From There (BMTFT), Beck, SocioTransit and Zaldee can help you get your favourite Sainsbury Coffee from the UK or send your grandmum's pickle from India to the US. Connecting those who have excess baggage/space with those who need packages/deliveries, these startups are taking to the Uber model.

The financial services industry is also undergoing transformation with digital. Crowdfunding startups like Ketto and Wishberry and peer-to-peer lending platforms like Faircent, Lendbox and i2ifunding are offering platforms to connect people who have a cause or a financial need with those who have excess funds to lend.Now, jobs have also gone the Uber way. 'Gig' or the freelancing economy is the new wave that is hitting corporates worldwide. Pankaj Bansal, co-founder, PeopleStrong, says the Uber like model is a classic example."People are moving away from permanent staffing and are looking at flexi work forces, not necessarily temporary but project based work where people offer their skills on demand," he said.

What is unique about Uber is that no new product was created. The existing system was given a digital overhaul. And it is this digitization that is setting precedence for other sectors.

SJP @DigitalAsian - ShareYaar

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