Beat is a virtual sales manager for CPG/FMCG companies, which processes historical sales data & external data sources to make predictive recommendations of optimal orders, eliminating lost sales due to out of stock.
Despite launching an MVP of Beat in June 2020 at the height of covid, we are in trial discussions with 30+ large FMCG corporates and have 6 agreed pilots already.
Beat is an AI powered solution for the consumer goods industry and we are focussed on the fast moving consumer goods (FMCG) industry. This industry was $10tn in 2017 and expected to grow to $15tn by 2025 (Allied analytics report). Lost sales due to out of stock costs the industry $3tn every year and is expected to grow to $5tn by 2025, if no action is taken. (Study financed by P & G) The total obtainable market for software and digital solution for this industry is $712bn today.
Problem or Opportunity
Every year the fast moving consumer goods (FMCG/CPG) industry loses $3tn dollars due to out of stock situations. This is because salespeople use historical data as a basis for discussing orders and promotions with the customer, when consumers are influenced by several other external factors.
Solution (product or service)
Beat’s AI processes historical sales data as well as external data sources (weather, demographics, hospital occupancy, home rentals and sales, and social media trends, just to name a few) to recommend optimal order volumes, promotions and portfolio to sales people.
Revenue model: $149/mo for each sales person and operations data at $15k per data set/mo. For any customisation of Beat’s decision tree, we provide a quote.
In 5 years time we expect to generate $108m in revenues from 23 corporate FMCG companies using our solution globally.
Business model: SaaS; Revenue of $149/sales person/mo
Channels: Direct to FMCG companies, through software implementation firms for FMCG companies, collaboration with software and hardware companies that sell into FMCG companies and referrals by strategy & turnaround consulting firms.