Captech Technologies' eFORCE platform helps bridge the gap between, the various subcontractors, The General Contractors as well as the developers. Through this platform a General Contractor or a developer can register their projects and find, easily onboard and retain all the necessary KYC-verified Subcontractors and Labor contractors through a simple multi-lingual mobile application. For the sub-contractors, this application helps by providing real-time business leads for projects pan-India. Our platform goes one step further and also gives the various sub-contractors transparency as to their payment statuses all in real-time.
How does this app solve the labour problem for the real estate industry?
The two big reasons that the “labor problem” exists in India are- Number 1, disorganization and fragmentation that exists in the discovery stage; i.e. A project coordinator or a project manager is forced to work with the sub-contractors and labor contractors they know via their own personal and professional network (very limited) and/or the list or the company’s existing vendor database (often limited and with outdated information) and Number 2: The onboarded subcontractors don't have payment transparency which causes a trust deficit between the two parties, hence retaining the right sub-contractors for a long period of time is a practical challenge
Our platform helps Project in charges to find all the “right-fit” subcontractors for their registered projects and gives the on-boarded subcontractors enough payment transparency which dramatically boosts the chances of retaining and doing continuous business with the subcontractors drastically reducing delays in a project’s life-cycle, leading to a boost in the profitability of the General Contractor, the developer as well as the onboarded subcontractors.
How does this app work and where all it is available?
General contracting company or a developer’s company approaches Captech Technologies to onboard them as clients and register the desired projects with eFORCE platform. The project in-charges of the registered sites gets a simple multilingual mobile app, where in they can fill a requisition for the activities, sub activities, the volume of work and the duration of work and automatically be matched by our search algorithm to the list of kyc-verified subcontractors that can fulfil their requirements based on matched experience, expertise and bandwidth. The project incharge and the subcontractors are shown the subcontractors and project profile respectively, in detail and are then free to contact each other offline to continue the onboarding process.
We already have more than 2000 subcontractors registered that can cumulatively deploy over 1,60,000 workmen pan-India. We are registering several contractors every day.
Along with this, both the project in charge and the subcontractors have access to see that in which department his/her bill is in and the Single point of contact from each department that the subcontractor or the project in charge can contact incase of any issue in bill booking, compliance etc all in real time without having to wait for months before having to go physically to office to investigate and solve the reason for the delayed payment (which often are only due to petty compliance or small documentation issues).
Tell us about your subscription model.
We have a very simple and commercially viable SAAS model. For select clients we are offering a first month free period wherein they can use the platform in their organization, completely free of charge to experience the tremendous value this platform creates for their organization in terms of money and time saved along while digitizing their entire vendor management systems, after which there’s a onetime registration fee along with a per user, per month license fee. With our platform we also give our users 24 by 7 support and have an entire back office team dedicated to solve queries, help the user have a seamless user experience.
How many clients do you currently have on the developer and labour front?
Just in 2 months of going live, our platform is already live on 32 large scale infrastructure projects pan-India (Mumbai, Pune, Navi Mumbai, Thane, Chennai, Delhi-NCR, Bangalore etc). Our first early adopter has been Capacite Infra Projects Limited, and we are incredibly proud to have contributed tremendously to their ‘Digital Transformation' story. We have cumulatively deployed and helped retain over 1200 skilled labours through our digitally registered and KYC-verified labor contractors for our clients, in the last 20 days itself. This further goes on to validate our ambitious vision of organizing India’s workforce in the infrastructure segment as well as the manufacturing segment.
What are your plans for the future?
Right now, our platform is capable of deploying specialized and unspecialized workforce for the Building and Factory segment, we aim to extend this platform to Hydropower, tunneling works, Roads and Highways, metro-construction and in the other specialized infrastructure fields after which we would like to expand to manufacturing industries as well.
How do you see the construction industry reacting to technology platforms like yours in the post-C-19 era?
The pandemic has been hard for all sorts of industries and the construction industry has not been immune to the negative effects of the pandemic. On the other hand, though, the industry which was generally averse to digitization (when compared to our counterparts in the aerospace and manufacturing industries) is now opened up to digitization. The key stakeholders have started asking the right questions, and have started seeing the immense value that digitization can create for the entire Indian construction industry and we are seeing a lot more positive response with high-profile clients now for platforms such as ours. Digitization and more technology adoption is definitely a silver-lining that the pandemic has brought us. It is indeed a very interesting and engaging time to be a part of the transformation story of the entire Indian Construction Industry right now.