Featured on Fast Company’s Most Innovative Companies 2019
Posted On March 6, 2019
Hello again Chai reader,
It has been a while since we reached out on this medium and we’re itching to re-establish our connect with you here. It’s been a stellar 2019 so far and we couldn’t help but think that it’d be even more special if we could share some of our highlights with you.
In February, Chai Point was conferred with a mention on Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2019, ranked 9th on the India list. The list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s volatile world.
Speaking on the milestone, Amuleek Singh Bijral, our co-founder & CEO, had this to say – “It is a highly gratifying moment when global independent media brands take notice of you. This gives us further validation as to how Chai is a powerful beverage even outside India. Such appreciation only further empowers us to continue on our mission to fix the broken last mile delivery of the Chai experience in India.”
“This ranking is a testament to the work done by our SHARK, boxC, Design and Procurement teams and am sure will motivate all of us within the company to continue to do great work.”
Innovation is at the forefront of everything Chai Point aspires to as a brand. We thought we’d share what got us on this list with you, and break it down a little bit so you too get the gist of what your favourite Chai brand has been brewing!
- boxC invoicing module developed by SHARK, is a finance tool which calculates and generates invoices & credit/debit notes, based on supply dispatches from warehouse, IOT based cup consumption and other charges based on the site’s configuration and location. The top benefits of using this tool are augmented cash flow with timely invoice generation and shorter credit cycle and improved productivity of finance team by reducing days of invoice generation effort, every month, to few hours, thus decreasing the manpower required for invoicing.
- SCM capex and opex module developed by SHARK (SCM 2.0) is a supply chain tool which facilitates the entire cycle of product fulfilment – starting from procurement to batch production to warehousing to delivery to returns, of all capex & opex, via system. This helps in traceability, planning, forecasting and reducing manual errors.
- Facial recognition via SHARK – If an existing customer enrolls with Face Rec, then the phone number mapped to the facial scan is populated in POS along with the reward points and wallet balance associated with the phone number. This simplifies the consumer end by not having to share the phone number every time he/she orders which is used to credit/debit reward points.
- Chai Point Rewards Programme – The gamification of points to unlock a Free Chai gives users a sense of achievement thus motivating them to transact for the amount required to unlock the reward.
- payTM boxC Integration – The integration of payTM onto boxC has enabled connection of consumption metrics to structure the selling model based on consumer requirement. Chai from boxC can be dispensed either free, price-per-cup or by quantity-based pricing as requested by the client.
- IOT enabled boxC machine health tracking – The functioning and location of the machine can be tracked via cloud which provides specific particulars if a machine isn’t functional such as, if a machine has been unplugged, or is undergoing a software malfunction and other such details. boxC also tracks the health of the beverage brewed and provides the same information on screen.
We wanted to enumerate our innovations to you so we could put across Chai Point’s vision and direction to establish a visibility as to how we go about our mission of “Brightening lives and serving the perfect cup of Chai.”
Stay tuned for further updates, reads and Chai banter! Cheerio.