In my earlier post, I introduced you to the booming economy of On Demand Mobile Service. In case you missed it, ODMS is essentially mobile services ordered by consumers as and when they need it, with an expectation of immediate delivery of their goods or arrival of their service. The key difference between consumers buying online and On Demand Mobile Service is speed of delivery.
The huge appeal of On Demand Mobile Service is that you can order what you want, when you want it – with an expectation that it will be dispatched immediately – versus pre-booking or ordering in advance. ODMS is all about reducing wait time and simplifying the value chain.
It’s no secret that most consumers are impatient. We buy online and we want instant gratification. When do I want it delivered? Now!
Clicks and mortar businesses are continuously speeding up the delivery process in order to retain their loyal customer base. Amazon and Iconic are just two examples of businesses, who offer same day delivery options breaking the mold. The juggernaut that is Uber further intensified the mobile services space. Today, On Demand Mobile Services is one of the most exciting and fastest growing economies in the technology arena.
Here is a great info-graphic outlining the current On Demand Economy:
Using a ready made platform that provides you with real time delivery or fulfilment means you can get to market more quickly than if you built everything from scratch.
vWork is the ideal out of the box solution to help you secure invaluable first to market positioning.
vWork enables marketplaces to deliver on their promise of On Demand Mobile Service by providing the out of the box platform they need for real time order allocation and dispatch to mobile workers. Our mobile technology helps them to fulfil orders faster than other systems and can provide the critical speed to market marketplaces need to beat the competition!
A proven platform, vWork has been developed and fine-tuned by our team over the past 8 years. The combined knowledge and experience we have acquired in developing real time mobile technology gives customers confidence in our product. vWork provides the integration, automation and real time visibility needed for speed to market with specific functionality built around order scheduling, allocating and dispatching to mobile workers. vWork is ideal for marketplaces who wish to aggregate consumer demand and need a platform to manage operations and the mobile workforce.
The diagram below shows how vWork works as a platform for marketplaces built around the value proposition of ODMS. This particular customer is foodpanda which provides food delivery services to over 30 countries worldwide.
The marketplace provides the mechanism to place the order: vWork manages the process of the order getting to the best available worker and the customer gets their meal – all within a matter of minutes.
On demand everything: Funding hits $9.4B since 2010
Internationally, financial investment into On Demand Mobile Services is at an all time high. Investment activity in on-demand mobile services rose 514% YoY to hit $4.12B in 2014. A spate of huge funding rounds including to Uber and Lyft have lifted funding in just the first four months of 2015 to $3.78B across just under half the deals tracked in 2014.
The level of financial confidence in this emerging sector should motivate service providers to invest in mobile technology to secure or retain their competitive advantage.
The above graph was produced by CB Insights, read the full report
As Steve Schlafman, VC at RRE Ventures (@Shlaf) said, “Welcome to the Uberfication of our economy.” The On Demand Economy is booming and experts are saying we are in the midst of the next evolution in digital commerce: web -> mobile web->apps. On demand services are just beginning to hit their stride and the market opportunity is massive.
If you are considering a move into the On Demand Economy and you want to find out more about how vWork can help you build your On Demand Mobile Service, get in touch: firstname.lastname@example.org
To find out if vWork is right for your marketplace, sign up for a free trial or book a live demo today.