The Silicon Review
“Our Mission is to provide organizations with state-of-the-art technology to operate at greater utilization and maximum efficiency in real-time so that they can grow, be profitable and scale to keep pace with increasing customer demand.”
The world of 2019 is customer centric. More than ever before companies are being measured by the quality of their service. This can mean many different things, from courteous support staff to flexible return policies, but perhaps the most challenging aspect of quality service is meeting the new standards for timeliness. Where five years ago you might have had to wait weeks for a washing machine to be fixed or a package to be delivered, today we live in the age of “two-day shipping”. To stay relevant, companies must essentially lift their supply constraints. Extending operational capacity without inflating costs is of course more easily said than done, and for many businesses this type of productivity growth remains elusive. It is here that technology shines. Schedule automation has proven to drive up utilization regardless of operational complexity, and optimization software is quickly becoming a necessary tool for staying in the game. This is why we sought out BoldIQ, a pioneer in the field of real time resource management.
Based in Bellevue Washington, BoldIQ is an algorithm company that specializes in smart scheduling. Their solution targets the fulfilment challenges of an increasingly “on-demand” service industry by focusing not only on future schedules, but on recovering from unexpected schedule disruptions, like a truck breaking down, or an employee calling in sick. With a high level of automation and sophisticated cost-benefit configuration options, the company has a proven track record of both driving down operational costs and increasing service capacity.
Erez Yarkoni, BoldIQ CEO, spoke exclusively to The Silicon Review. Below is an excerpt.
Q. Why was the company set up?
We initially started with an operations solution (ERP) for business aviation operators. As we worked with our customers and began to learn the complexities around on-demand scheduling, especially in environments with a lot of disruptions, we realized we were in the perfect position to help solve this problem.
Q. Tell us about your first product that was launched.
Our first product is called Okhama. It’s a next-generation platform optimization engine that puts a company’s resources (physical assets and people) to the best possible use. What makes it so unique is that we let each company define what that “best use” is. Using the aviation industry as an example, optimization can be geared towards reducing the number of airplanes you use, load balancing work among pilots, or cutting down on the number of empty flight legs. Each one of these objectives requires a different schedule. It all depends on your business goals and internal operating activities.
Q. How successful was your first project roll on?
Introducing software that changes the way a business conducts its day to day operations is a delicate process. We’ve definitely done a lot of learning over time. Luckily, we have a great team that’s really focused on improving our implementations and making the onboarding experience as seamless as possible for our clients.
Q. What is the current market scenario? And what is your company’s position in the market?
It’s a demand-driven world, uninhibited by the constraints of supply, timing and disruption. A business needs to be available whenever and wherever customers call. We help them figure out how to do that. Because our solution integrates into their operations management system, usually some sort of CRM or ERP platform, we collect the real time status of their available resources and pending service requests. This means that our proposed solutions are built holistically from a network perspective. When you can consider the whole picture like that, you can really ensure the right resources are assigned to the right task.
Q. Briefly explain your products and services.
We service complex operations, with dynamic resources and intense regulatory restrictions. That means the scheduling challenges our software tackles tend have too many moving parts for the human brain. We allow our customers to operate legally, efficiently, and profitably.
Q. What do you feel are the reasons behind:
Your product popularity – Our deep expertise and understanding of our customer’s industries. Not to mention, cutting-edge technology that allows our customers to solve problems in seconds, rather than hours.
Your consistence growth as an organization – Our employees: They are dedicated to giving our customers a top-notch product and support. A positive customer experience underlies everything we do.
Q. What were the grounds on which you have expanded your company and its offerings over the years?
We’ve grown organically. BoldIQ first focused on business aviation as we had a lot of experience in that field and have slowly branched out into other verticals as we’ve matured our product and offering.
Q. What are your company’s mission and vision statements? And to what extent are you successful in achieving the same?
Our Mission: To provide organizations with state-of-the-art technology to operate at greater utilization and maximum efficiency in real-time so that they can grow, be profitable and scale to keep pace with increasing customer demand.
Our Value: We operate with simple core values that underlie our professional and personal lives:
Customer partnership, pro-active adaptation to change, and continuous innovation
Q. How often do you innovate? Is it only when there is a need in the market?
We believe in technology and invest in great people with deep experience who will help us to continually innovate and iterate to become better and better. I’m confident in saying that we look for ways to innovate every day.
Q.Where do you see you and your company a couple of years from now?
We will continue to focus on the same problem space but are looking to move into more vertical markets. Our growth has continued to accelerate. We plan to grow the team and keep pace with market demands and opportunities.
Erez Yarkoni: A Brief Background
As the former EVP of Apptio, CIO of Telstra and SVP/CIO of T-Mobile, Erez Yarkoni brings an extensive background in software development, operations, business development and sales to BoldIQ. Mr. Yarkoni holds a number of degrees, including Mathematics and Computer Science from the University of Haifa and an MBA from Southern Methodist University.