Krish Sudhakar, MD informs Evalo is the first Hybrid SaaS product for the Indian real estate valuation sector.
What are the solutions and services in the Evalo portfolio?
Evalo is offered in 3 different variants, viz., Evalo Virtual Office, Evalo Business Pro and Evalo Suite. Soon we are launching Business Pro Plus and Evalo Elite. These product variants are offered to cater to the varying needs of our customers.
What are your business and operating models?
Evalo is available in both pay-as-you-go model and annual licensing model. In the pay-as-you-go model, we charge a nominal one time setup fee and a monthly usage fee depending on the usage of the platform.
In the licensing model, we have 1 year, 3 years and 5 years licensing model. In terms of our support infrastructure, email for all, WhatsApp for Business Pro and exclusive RMs for elite & Business Pro Plus is provided.
What is the GTM strategy followed by Evalo?
The Indian valuation sector is at the beginning of the technological transformation curve. Of the 15000 valuers in the country, only a handful have sophisticated operational software. The majority of the process is carried out with Excel or word. Considering this, our promo has been largely focused on strategic tie-ups of Valuer associations, the conventional outbound reach outs and targeted social media outreach. However, we strongly believe that the product must promote itself. All our efforts are focused on making the product robust and simple so that the last mile user enjoys using Evalo. That in our opinion is a sustainable business model and will help us pass on the cost-saving to our subscribers.
Which are the verticals you are witnessing maximum traction for the Virtual Office or Business Pro or Suite?
Business Pro is our flagship product. It was quite popular amongst the professionals as this variant offered Report generation and they paid based on their monthly usage. This variant ideally takes about 1 month to go live and about 3-4 months of adaptation time.
However, once the national lockdown was announced in India, we had to revisit and redefine the problem statement. The Industry wanted a product that had shorter “Go Live” duration and with lesser training. They wanted software that can help them adopt the new normal of Work From Home. Evalo Virtual Office does just that. With Go Live duration to 48 hours and least disruption to their existing practices, the Industry welcomed the product very well.
The Virtual Office witnessed maximum traction during May June and July as it best suits the prevailing Work From Home model. But in August we witnessed a renewed interest in Business Pro from selected pockets of the country.
Who are your marquee customers and what are their use cases?
We have subscribers spread across 16 Indian States. From North to South, East to West and also in Northeastern states like Assam. However, we would like to highlight a couple of successful use cases.
Sreenidhi Management Consultancy Services:
They are our subscribers ever since our launch. They are by far one of the largest Valuation Firms in South India with nearly 17 branches and generate about 3k reports a month. Evalo integrated their processes in a pyramidical structure that enables better control over their operations, real-time updates on the operations in their remotest branch, significant reduction errors due to extensive input validation, enhanced productivity, and thanks to our advanced data flow management system which reduced duplication of works. In about 6 months of deploying Evalo, they witnessed a nearly 40% increase in productivity and also a 20% cost saving, thanks to enhanced operational efficiency.
This Firm subscribed to Evalo Virtual Office. They subscribed to Evalo at the peak of the corona crisis. Their primary objective was to manage the operations and also explore the feasibility of Work From Home. After implementing Virtual Office, they found most of their challenges adequately addressed. Their control over resources, their productivity, and also the day to day operations improved significantly. They also provided valuable feedback on the product which helped us make the product more effective to the end-user.
What are the Evalo differentiators from its competitors?
Evalo is probably the first of its kind Hybrid SaaS product for the Indian real estate valuation sector.
A Valuation business can be broadly classified into 3 layers of operations:
Business Layer – includes the Cost management, Productivity Management, Operations Management, Data Management, Invoice Management, etc.
Decisioning Layer – This is where the professional expertise of the Valuation professional comes to play. The data which was assimilated in the Business layer is critically reviewed by the Valuation Professional to formulate his opinion.
Reporting Layer – This is where the opinion so arrived at the Decisioning layer get communicated to his clients in a structured form commonly known as the Valuation Report.
In evalo, we provide solutions to cater to all the above 3 layers.
In the Indian landscape, nearly 80% of the Valuation Business in volumes is contributed by the Financial Institutions which provide Home Loans and Mortgage Loans. Each institution has defined its own reporting format depending on the type and nature of property valued. Considering this complexity evalo provides its subscribers nearly 515 pre-built report templates pertaining to 110 Financial Institutions. This constitutes nearly 90% of the reporting forms and is by far the largest repository of reporting formats in India.
The Evalo Elite is a first of its kind niche solution offered on Invitation Only. Apart from several unique features, It comes with inbuilt AI/ML models which will provide advanced decision-making tools to help the Valuation Professional take well-informed decisions on a property.