At over $200B in total spend , supply chain quality inspection is big business
Companies with global supply chains need to source qualified inspectors all over the world, and this work is highly time sensitive. Failure to source an inspector on time risks delaying project completion, and can lead to missed mistakes which are more expensive to rectify further down the line.
One of the worst examples of how supply chain quality management can go wrong, is the Gulf of Mexico oil spill. It is estimated that $61B in economic and environmental damage was caused, mostly due to poor supply chain quality management.
This issue affects all projects, large and small and is down to the fragmented nature of the marketplace, and the manual workflow which has remained the same for decades.
The traditional workflow is outdated and slow
The way inspections are requested, scheduled, sourced and managed is a leading cause of project delays and errors, and is in drastic need of a digital upgrade.
Source and manage supply chain inspections anywhere in the world
📲 The all-in-one platform for supply chain quality inspections and audits.
Every step of the workflow is digitized and optimized:
- Source qualified, verified inspectors from our global network - reducing sourcing time by 30%
- Schedule inspections and audits from one central space - saving one day per week on administrative tasks
- Share, store and view project documents in one place - never work from the wrong document again
- Team and project based messaging
Intuitive and scalable
We interviewed and tested with over 100 highly qualified quality professionals to find the most important features that make their job easier and more efficient.
Everything in the palm of your hand
With many more exciting new features in the pipeline...
Building something people want
We've achieved the following milestones in our recent trial phase, and we're now ready to scale:
- Revenue: $150K+ generated in trials, with 30% growth month over month on average
- Demand side: Signed terms with eight clients, including energy developers, manufacturers, and contracting companies
- Demand side: A busy sales pipeline with over $10M potential ARR
- Supply side: Three agency partnerships agreed, with ten more in the pipeline likely to close by end Q1, 2021
- Supply side: Over 1,000 independent inspectors and auditors signed, growing organically every week
We're already generating revenue, and we have ambitious targets to hit in the coming years
Freemium model + commission on transactions
🆓 Freemium tier = faster adoption
We use a freemium model for our inspection management software to generate leads and increase distribution.
💱 Commission revenue
We charge a commission on transactions running through the platform.
🚀 Distribution strategy
By partnering with small and medium sized inspection vendors rather than competing with them, we benefit from fast, low friction distribution of our product and create a win-win for everyone involved.
Targeting the underserved $30B engineering sector
Supply chain quality inspections are required in almost every sector involved in the global economy, from chemicals and aerospace, to food and retail.
That's why it's a sector worth over $200B annually, and we've set our initial focus on the $30B engineering segment, which covers industrial manufacturing, offshore energy and infrastructure projects.
Focus on underserved and emerging sectors
We're focusing our early efforts on fast growing, niche verticals like the renewable power sector, which is expected to grow 50% by 2024.
In particular, the East Coast US offshore wind sector is about to hit hyper growth.
Differentiated from the competition by empowering SMB's
Our marketplace model sets us apart from the competition:
- Partnering with small / medium sized inspection vendors provides them with access to market whilst improving our distribution
- We're one of the only platforms which has fully digitized the inspection scheduling and management workflow
- "Time to hire" has been 30% faster compared to a traditional agencies in trials
- We provide full transparency of the process for all parties, from start to finish
- Because we're a digital marketplace, clients save money while inspection vendors earn more compared to working with existing large agencies
One platform for the entire quality industry
Our vision is to connect the entire workflow, marketplace and community and become the go-to platform for the quality industry.
🏪 Digital marketplace
Today's supply chain is fragmented and offline, and vendors of services, products materials are losing revenue due to friction in the procurement process.
BuildStream will provide sellers of training, equipment and more with their own digital store front connected to our network of buyers.
📰 Social features
LinkedIn is becoming saturated and too generalised, and the quality community does not yet have a specialized home online where they can find highly relevant content and connect with their industry peers.
Huge expansion potential
Improving standards of quality is important to every industry. Here are some of the markets within engineering and manufacturing we are targeting in the long term.
Backed by the best
We’ve raised over $700K from reputable investors such as Y Combinator, Urban US, Plug and Play and more.
First hand experience of the problem
Our founding team has first hand experience of the problem, and we're supported by a talented team of developers and industry experts.
We started BuildStream with our own savings, and quit our day jobs to dedicate our careers to solving this problem. We're just getting started and now is an exciting time to take part, come join us on our journey!