Day: May 7, 2024

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How Doxa cuts through the carbon chaos: Simplifying embodied carbon calculations

In today’s interconnected world, environmental sustainability stands as a cornerstone for organisations striving to balance growth with responsible stewardship. Yet, many companies are overwhelmed by the challenge presented by this balancing act.

We recognise the challenges these companies face. This article delves into how Doxa can be a part of solving these challenges faced by many companies.

At Doxa, environmental sustainability isn’t just a buzzword; it’s a guiding principle ingrained in our operations. Leveraging digitalisation and data management, we streamline processes to minimise our environmental footprint. By embracing digital workflows, we reduce paper consumption and enhance efficiency, demonstrating our commitment to sustainability through action.

Doxa Connex is a platform that we offer to companies to practically put environmental sustainability into action and not just words.

A big part of environmental sustainability in the built environment sector is the Embodied Carbon calculation. In fact, governments around the world are pushing for this calculation and making it mandatory reporting to be effective as early as 2025, as evident in the EU Taxonomy. The complex calculation is even more daunting when you consider the amount of data and effort required to perform them effectively.

With Doxa Connex, working with Razer’s Restorify, we believe the best approach forward is by taking the life cycle approach towards measuring carbon footprint.

Also Read: 11 easy strategies that are important for every startup to succeed

Doxa Connex automates the calculations of Embodied Carbon, enabling real-time tracking and reporting of carbon emissions associated with purchased goods. When the procurer and suppliers key into the required datasets, Doxa Connex applies an activity-based approach to modelling what the emissions are like for our customers. Through such initiatives, we strive to set new benchmarks for environmental stewardship.

Our first use case will be within the construction industry. By using Doxa Connex for your procurement workflow, starting from purchase requests through goods receipts, embodied carbon calculation happens automatically and is allocated to the right categories under your organisation’s Scope 3 reporting standard.

With a measurable life-cycle approach, partners have a dependable platform to ensure quantifiable reporting instead of vague claims running into the risks of greenwashing.

Our solution is validated as we are an official partner with SGTraDex in its green and sustainable trade finance. With SGTraDex, Doxa Connex is able to push data seamlessly to all participating financial institutions.

We are seeking future independent audits for our solution and will be moving towards supporting a net zero vision for our built environment sector. By using the activity-based approach, we endeavour to encourage our partners to set ambitious goals and utilise dashboards to track progress transparently.  Sustainability is a collective movement requiring collaboration across stakeholders.

As such, we are working closely with multiple market leaders to not only provide a technological solution but also provide incentives in the area of green trade financing.

Through strategic alliances with financial institutions, we facilitate green financing and sustainable trade finance, fostering a culture of environmental stewardship beyond organisational boundaries.

In conclusion, Doxa hopes to be your preferred partner in the collective efforts of every company to make a move to net zero a success. It may be a chore for many, but we can help in making it less painful.

Let us help you and your companies in this journey to drive a positive impact on our world. We invite you to join us in this collective pursuit of a greener, more sustainable world.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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One-stop matching platform for home renovation TWdecoman lands strategic financing round

TWdecoman, a one-stop matching platform for interior designers and renovation companies in Taiwan, has completed a strategic investment round from Jan Cheng Lighting, the owner of LED lighting brand DANCELiGHT.

The capital will enable TWdecoman to expand its renovation matching business actively.

TWdecoman, a unit of Hong Kong-headquartered Decoman Group that entered Taiwan in 2022, helps homeowners find and match with the most suitable interior designers and renovation companies. It utilises AI and big data to “accurately analyse data through an algorithm, thereby matching up homeowners with the most suitable interior design or renovation companies”. In addition, it provides do-it-yourself (DIY) home repair courses.

Also Read: Bridging Taiwan and Southeast Asia through innovation and tech

Currently, TWdecoman provides services in Taipei, Hsinchu, Taichung, Tainan, and Kaohsiung. It now plans to expand in Q2 this year and will launch in the Tainan area.

At the same time, its DIY home repair courses are currently available in five major counties/cities of Taiwan, attracting over 250 students monthly, totalling over 1,500 students.

Benny Liu, Founder of Decoman, said: “Over the past year or so, not only have we achieved results in online media and offline operations, but we have also made great efforts in our local AI system and database. Now we can further deepen our big data analytics through Jan Cheng Lighting’s expertise, years of rich experience and available relevant info of the Taiwan market, while embarking on the Tainan market through Jan Cheng Lighting’s strong business networks in the southern region. Consequently, both our groups can reach supply chain synergy, creating a more flexible and resilient ecosystem structure.”

Also Read: e27’s role in empowering Taiwan startups through the Vision Program

Decoman also operates in several markets, including Singapore and South Korea. It is actively preparing to expand its business to the Australian market.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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Beyond the Hype: How startups can scale sustainably through compelling communications strategies

Startups

In the current entrepreneurial landscape, achieving sustainable growth is paramount. While rapid expansion can be alluring, prioritising long-term viability over short-term gains is critical for true success. This approach, anchored in effective marketing and communication strategies, fosters a loyal customer base and a resilient business model.

Establishing a Foundation for Enduring Success

  • Product-Market Fit: Before scaling your operations, ensure a robust product-market fit. Conduct rigorous market research and leverage customer feedback mechanisms like surveys and user testing. Utilise this data to refine your product or service until it demonstrably addresses a specific customer need. This reduces customer acquisition costs in the long run and lays the groundwork for organic customer acquisition through positive word-of-mouth.
  • Brand Identity Development: Craft a clear and consistent brand narrative that effectively communicates your value proposition. This narrative should resonate deeply with your target audience and guide all marketing and communication efforts. Invest in building a compelling brand story that showcases your purpose and core values. A strong brand identity attracts the ideal clientele, those more likely to become loyal brand advocates.

Also read: Solos: Breaking barriers for innovative eyewear technology

Beyond the Bottom Line: Building on Loyalty for Growth

  • Optimising Customer Lifetime Value (CLTV): Customer retention is demonstrably more cost-effective than new customer acquisition. Implement strategies to cultivate customer loyalty and encourage upselling or cross-selling opportunities. This might encompass loyalty programs, exceptional customer service experiences, or exclusive content offerings for existing customers. By prioritising CLTV, you cultivate a more profitable customer base.
  • Data-Driven Marketing Decisions: Marketing initiatives should be guided by data, not intuition. Closely track key metrics such as customer acquisition cost (CAC) and return on investment (ROI) for all marketing campaigns. Analyse these metrics to identify the most effective channels for reaching your target audience and optimise campaigns for superior performance. A/B testing various marketing approaches allows for continuous refinement of your strategy.
  • Content Marketing as a Cornerstone: Develop high-quality, informative content that educates and engages your target audience. This establishes your brand as a thought leader in your industry and fosters trust with potential customers. Content marketing attracts organic traffic, improves search engine ranking, and nurtures leads through the sales funnel.

Effective Communication for Sustainable Growth

  • Transparency as a Core Value: Maintain an open and honest dialogue with your customers throughout your growth journey. Communicate your goals, challenges, and milestones transparently. This fosters trust and strengthens the sense of community surrounding your brand.
  • Cultivating a Customer Community: Create a platform for your customers to connect with each other and with your brand. This could be through social media communities, online forums, or even in-person events. A thriving customer community fosters loyalty, provides valuable feedback for product development, and serves as an organic marketing channel through word-of-mouth promotion.

Also read: Zoho: Powering businesses of all sizes through digitalisation

Strategic Exit Planning for Long-Term Value Creation

  • Financial Performance Monitoring: Continuously monitor key financial metrics like profitability, cash flow, and burn rate. Be prepared to adapt your operations, or even consider a strategic exit, if the business model demonstrates long-term un-viability. Data-driven decision-making is crucial for safeguarding the interests of all stakeholders.
  • Market Saturation Considerations: Should your market become saturated with competitors, explore strategic pivots. Consider partnerships, mergers, or acquisitions to expand your reach or access new resources. Sustainable growth is a strategic endeavour, not a fleeting pursuit. By focusing on building a robust foundation, taking calculated risks, and prioritising long-term customer value, you can position your startup for enduring success. By combining these marketing and communication strategies with a data-driven approach, you’ll be well on your way to achieving sustainable growth and creating a brand that resonates deeply with your target market.

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This article is produced by PRecious Communications

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Surge leads self-service customer support platform Brainfish’s US$2.5M seed round

(L-R) Brainfish founders Ajain Vivek and Daniel Kimber

Brainfish, an AI-powered self-service customer support platform for businesses, has raised US$2.5 million in seed funding.

The latest round was led by Peak XV’s Surge, with participation from Macdoch Ventures, Black Sheep Capital, existing angel Justus Hammer (CEO MadPaws), and new angels.

This brings its total capital to US$3.3 million.

Brainfish will use the new funds to double down on product innovation and accelerate international expansion.

Also Read: From chatbots to therapists: How AI breaks ground in bridging the mental health care divide

For online businesses today, customer service is based on the premise of helping people understand how a product works. Customers do not want to sift through numerous help articles or go through a chatbot workflow just to get through to a human to answer their questions. They just want their question answered instantly.

Brainfish is an AI product expert who helps customers understand a product and helps businesses understand their customers. The Brainfish AI search function combines a company’s knowledge documents and contextual understanding of the user to deliver instant, real-time answers that are personalised to the specific customer scenario.

“Customer support has not changed much in decades. The tooling might be better today, but primarily people want to speak to a human when they have a problem because human support is armed with institutional knowledge of a product. We’re turning this on its head at Brainfish. We aggregate complex data to create one digital source of truth, eliminating 90 per cent of the need for humans to support and interact with the customer and saving companies countless hours,” said Daniel Kimber, CEO and Co-founder of Brainfish.

AI has emerged as a transformative force in the customer service market and is poised to reach US$7.08 billion by 2030. Businesses have begun to leverage machine learning and automation to streamline customer interactions, optimise efficiency, and develop personalised experiences to revolutionise customer experience (CX) for the future.

Also Read: Microsoft to empower 2.5M Southeast Asians with AI skills by 2025

While businesses are predominantly using AI for customer support, it has yet to trigger a significant decline in the number of human agents required2. Brainfish addresses this issue by deflecting queries from a human interaction altogether and has recorded the highest deflection rate of any AI self-service solution on the market.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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How product growth helps both you and your users succeed

It may be idealistic, but I have always believed that the right digital product has the power to deliver tangible change in the world. A digital banking app can increase financial accessibility, and an IoT agritech ecosystem that helps farmers increase their yields.

However, change cannot happen unless people can use these products to successfully solve their problems.

It can be frustrating to see great ideas never reach their full potential, but this can be avoided when companies prioritise user success through product growth.

What is product growth?

Product growth is the process undertaken to increase a product’s value, identify new ways to satisfy users, attract new customers, and boost revenue. There are 6 different aspects of the product growth process which together drive business success.

SP_Expert Spotlight_Product Engine Diagram

Attracting new customers is just the first step

Of the 6 stages of product growth, the acquisition is arguably the most similar to traditional digital marketing. The goal of the acquisition is to drive product awareness and acquire new users and involves familiar marketing tools like technical SEO, app store optimisation, paid ads, and engaging content.

However, simply attracting users to your product or service doesn’t set them up for success or foster customer loyalty. It’s important to optimise every stage of the product growth engine to ensure that customers are able to successfully use your product or service. After all, a successful product helps its users succeed.

Also Read: 7 ways to optimise your product page to attract more sales

A real-life example of a product that drives user success is video games. Video games ensure that the player (i.e. the user) understands the game’s controls and tools to help them achieve as many goals as possible.

As players progress through the game, they continue to receive introductions to new features or skills so that they can adopt them into gameplay. If a player gets stuck, they’re able to access tips from the game and other players on how to proceed to the next level.

A new release doesn’t guarantee ROI

Product growth and funnel optimisation are more valuable for your business than feature releases. Rather than spending resources and time developing a brand-new feature based on a gut feeling, it can be more effective to identify where your users drop off.

An insurance app might discover that several users fail to fill out an in-app request for insurance quotations. 

One reason for the drop-off might be that users need to submit their license plate number, which many users don’t have on hand. This issue can cost the insurance app valuable leads. However, by separating the form into separate steps, the insurer can collect a customer’s contact details and collect the license number later. This increases the user’s experience, satisfaction, and product revenue and avoids having to release a new feature.

Successful funnel conversion of your users is fundamental to your business success. Aim for the completion of user journeys — whether it’s to learn something new or to upsell a paid subscription. This drives business value and impact, both for your business and within the product itself.

SP_Expert Spotlight_Product Funnel (1)Even a modest improvement is a substantial return on investment. A small percentage of improvement in drop-off rates increases your conversion rate massively and contributes to your bottom line.

Plan for continued user success

Here are some ways you can plan for product growth success:

  • Reach optimistic goals by planning like a pessimist. Think about all the ways things might go wrong. Consider whether or not users can complete jobs and why they might fail to make transactions on your app.

Also Read: How to hack product growth and user acquisition in Thailand

  • Make data-driven decisions that improve the customer journey. Go beyond initial research and don’t rely solely on feelings or hunches. Perform AB testing and optimise your user onboarding.
  • Set KPIs  based on your company’s core objectives. Revenue and number of users may seem like a good benchmark, but if these metrics don’t align with your company mission and vision, then your product growth process will not deliver the results that your stakeholders are looking for.

The top benefit of product growth

From my experience, successful product growth converts your users into loyal product advocates.

When a customer becomes a product advocate, they aren’t just able to use your product to its full potential but love it enough to build a community of other product advocates and recommend it to others.

An example of this is the Figma community, Friends of Figma. This group isn’t an official platform run by the company but is run independently by a group of users who love Figma and use the forum as a place to share experiences, tips, and tricks on how to best use Figma to achieve their day-to-day tasks.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

Image courtesy of the author.

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