Bengaluru-based startup LetsService Automotive Technologies began its journey as a provider of tech enabled doorstep pickup and drop service to vehicle owners for periodic maintenance of their vehicle. However, gradually, the Let's Service has transformed itself as a full stack firm that also provide software to dealers to manage their customers.
Last year, Lets' Service launched three new products – Let's Connect, a service centre CRM, Let's Lead, a dealership sales CRM and Let's EasyQ, a service centre queue management system. According to company executive, these three products have contributed close to $15 million in revenue to clients in 2018 and this year that number is likely to jump to $55 million.
In 2019, the company is looking to expand its reach, partnership and will combine the power of artificial intelligence (AI) technology to sharpen its products and services. Currently, it has offices in 25 cities and sells software in more than 130 cities in India.
“This year we will focus on more product launches and become more relevant to vehicle owners across as many use cases as possible,” Sachin Shenoy, co-founder and CEO of Let's Service said, adding that “vehicle ownership has many significant use cases of AI specially in areas where the auto aftermarket touch point engages with the vehicle owners.
From business and product innovation point of view, how was the year 2018 for Let's Service?
The year 2018 was fantastic for Let's Service. From being a company that provided convenience to Vehicle owners for their periodic maintenance through tech enabled doorstep pickup and drop service, we have become a full stack company that also sells software to dealerships which enhances and improves their efficiency and customer experience.
Last year, we launched three new products namely Let's Connect, a service centre CRM, Let's Lead, a dealership sales CRM and Let's EasyQ, a service centre queue management system. These three products have been delivering significant impact at all our partner dealerships and has contributed close to $15 million in revenue to them across over 1500 sales and service outlets in over 130 cities and towns in India.
What role do you see AI playing in vehicle ownership management?
Vehicle ownership has many significant use cases of AI specially in areas where the auto aftermarket touch points like service centres, roadside assistance, among others engages with the vehicle owner. Also, there are a lot of data points which each of these interactions create which so far has not been used to improve or enhance the customer experience.
We believe in deploying AI and ML capabilities to build features that deliver superlative ownership experience to vehicle owners by shrinking time and eliminating friction during their interaction with each of these auto aftermarket touchpoints.
For example, our Let's Connect is a smart CRM. It keeps track of the vehicle owners usage history to provide a more contextual inputs to the tele-callers who call to remind about next service schedule. We also use AI and ML to ensure the caller calls customer at a time when they can take the call.
With focus on emerging technologies, what innovation do you see happening around vehicle ownership management in India?
AI and ML are being used at Let's Service to study vehicle riding patterns to predict the next service, detect collisions and send RSA and emergency services to the spot at the fastest time possible. It also provide usage based insurance premiums and assist the vehicle owner to sell the vehicle on the go through AI enabled chat with potential buyers. Going forward, this sector will see a lot of innovations to simplify vehicle ownership management.
What are your plans for growth in 2019?
Currently, we present in 25 Indian cities with offices and are selling software in more than 130 cities. We have made rapid strides in forging strong partnerships with industry leaders which will visible be in 2019. This year, we will also focus on more product and feature launches with the aim to become more relevant to vehicle owners across the country. We have been making investments and rapid progress in our endevour. Our vision is to “Simplify Vehicle Ownership” and become a household name in India.
Is Let's Servic looking for expansion outside India?
We have been studying markets outside India for sometime now and we have a couple of markets on our radar where two wheelers are lifelines of the economy. At the moment ,we will focus squarely on India as we have just scratched the surface and have a lot to do here.