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B&L

We create and audits data for any kind of markets

Chile
Market: Another
Stage of the project: Operating business

Date of last change: 12.11.2020
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Idea

AI-driven master data resettlement solution. Connects multiple information sources to identify, validate, format and enrich corporate data which is then used to enhance the customer's omnichannel and analytics experience

Current Status

B&L has had strong growth in sales and number of customers in recent years, opening high-turnover operations in Peru, and starting relationships in Colombia and Mexico. We closed 2019 with a portfolio of more than 20 first-class clients, which additionally have operations in Perú and sales in México.
We have over 12 large Retail companies, 3 Agriculture and mining holding, with over 45 subsidiaries with 5 user avg per subsidiary 225 users.
We acquire clients through our sales structure (presales, sales and post sales) using inbound and outbound strategies, this sum to our partner ecosystems all over Latin America that creates leads and work as resellers.

Problem or Opportunity

Latam e-commerce sales amounted to USD $64B in 2019, with a return rate of nearly 16% caused directly or indirectly by incorrect product data. Companies like Falabella or Liverpool lose around 11% of their net sales (USD $1.13B) a year due to dirty data.


Gartner has estimated that poor data quality costs organizations an average of USD $13.3M a year, affecting labor productivity as much as 20%. 20-30% of operational expenses can be directly related to bad data. Harvard Business Review has estimated that by adopting good data practices, companies could realize a 70% increase in revenue.


With corporate data growing at a rate of 40% a year, trying to fix this issue using human resources alone has proven to be unsustainable.

Solution (product or service)

We offer an AI-driven solution to standardize and enrich corporate data. Our proprietary algorithms allow us to extract information using technologies such as image recognition, web scraping and document understanding and use it as aggregated data to fix and enrich our clients corporate data. Our key strength is our vast historical data which grows as we work with more clients. We are not a data aggregator and as such we do not sell our database. Instead, we use our database to feed our ML models and help us in the data cleansing and enrichment process.


The technologies we use are not new, but the way we incorporate each one of these in our workflow is what brings out the best of them. This not only allows us to clean and process our clients data, but also do it in record time, thus allowing the customer to reduce losses and make better data-driven decisions.


We also offer the possibility to reach out directly to suppliers or even collect information on premise, thus allowing us to create data that is not yet available elsewhere.

Competitors

Data is the new oil and DataQ is the first automated data refiner. Currently tools such as ERP, MDM, CRM are vehicles to manage and govern data, but none is responsible for the information generated within them. , leaving this task to the different user profiles, with different visions of how this information should be created, which represents a risk for the company that can affect up to 12% of its net sales. With B&L all data that enters its systems or is published in any of its channels is correct, approved, complete and structured to be able to feed all systems and sales channels.

We are the sum of different technologies and the improvement of processes: The only ones in Latin America to use technologies such as document understanding and web scraping in the same collection process; allowing us a higher level of productivity than the competition.

We make scalable the creation of data and information that grows in the world at 40% annually, in the generation of new and updated data, ensuring its quality, structure and completeness. (A job that today is largely done manually, as a repetitive task that does not generate value given its high level of errors)

We deliver a customized service according to the needs of our clients, making the structures that feed all their systems and channels more flexible (we do not impose our way of working).

First to develop for the Spanish-speaking market.

Strength, conviction, drive, flexibility and ability to do this job anywhere in the world.

Advantages or differentiators

We identified several halfway solutions that don't sum up to the completion quality and usability that companies are in so much need, such as: image recognition like DataX, Appi vision, web scrapers as Import IO, MDM solutions as Stibo Systems, Akeneo, Informatica, Sales Layer, that only extract data, MKT Agencies that enrich with no escability or technology and Consultancies as well that can guarantee quality but not quantity, Internal Company Teams (Agustina del Valle) that generate high cost, low quality and poor quantity.


All of this 47% expensier than B&L solution understanding the number of services, quality, volume and pricing.

All other solutions can work as a complement for our solution from the sources point of view.

From our Benchmark Companies received a larger number of solutions a higher quality a exponential increase in volume of data for the best competitive pricing available gaining control of data quality, data completeness and data creation.

Money will be spent on

Direct sales is the main customer channel acquisition, we have a commercial team with three differents focus:

Pre Sales: Prospection of new clients

Sales: Directly with potential clients

Post Sales: To engage clients reviewing constantly the success and seeing new need to generate up or cross sales

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