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Big picture thinking: How Worksimply was able to double down on a new market to serve more customers

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Monthly Archives: June 2022

Big picture thinking: How Worksimply was able to double down on a new market to serve more customers

Thinking about what the future of work looks like? The founder of Worksimply, Jaime Aoyagi, is your guy.

It goes without saying that the future has changed forever and remote work is here to stay. But what most employers may not realize is that the workplace of tomorrow isn’t just confined to an at-home office or central downtown location.

Aoyagi predicts that the future of work will take place in three main spaces: an at-home office, a central headquarters that’s typically located in a downtown core and an on-demand workspace that’s less than a 10-minute commute from the employee’s home.

Catching a new wave of opportunity and recognizing the transformational shift taking place in office settings, Aoyagi decided to grow Worksimply – a workplace platform – by doubling down in a new market to serve more customers.

We sat down with Aoyagi to learn more about Worksimply, and how he was able to shift markets by thinking bigger.

First, can you tell us more about what exactly is Worksimply?

“Worksimply’s solution is two-fold. For hybrid companies, we offer a workplace platform that makes office space more affordable and increases employees’ freedom. For co-working space operators, we offer software to manage end-to-end guest bookings for co-working spaces.

To put it into perspective, we help small businesses manage their own hybrid workforce by allowing their employees to book desks at their HQ and at co-working spaces all across North America,” said Aoyagi.

A cycle of various workspaces - How Worksimply was able to double down on a new market

What do you think is unique about Worksimply’s value proposition?

“Fostering an engaging work culture is crucial to creating a well-oiled, productive and happy team. At Worksimply, we understand how challenging this has been for remote and hybrid teams and are working to help them better manage their remote culture.

While a lot of companies today are working in a predominantly remote environment, we know that face-to-face interaction is still important. We know that it’s not about a desk, it’s about collaborating with your teammates.

This is exactly why we’ve rolled out features that allow teams to encourage their staff to meet in-person by allowing them to see who is working from where and when. But we didn’t stop there, we also offer services that help employers go above and beyond when it comes to maintaining a great office culture for remote employees – like providing snacks, drinks and workshops.”

This pandemic had a major impact on how Canadians work and use office space. How does Worksimply help companies in today’s current climate of needing flexible hybrid office space?

“The pandemic completely changed the way the world works. Pre-pandemic, the standard was for companies to have one designated desk per employee. Fast forward to today, a lot of companies have gone fully remote while others have embraced a hybrid model.

Now this presents a unique situation. A hybrid model can look very different from company to company, but nonetheless, the office will still play a huge role in how people work.

Moving forward, I think work will take place in three main areas: the home, the central office and finally flexible office spaces close to home,” explained Aoyagi.

This is exactly where Worksimply comes in. Worksimply is helping SMEs not only manage but also support their hybrid workforce by allowing their employees to book office space close to their home or their central office.

Jaime, you saw a new opportunity in the market and decided to double down on it to grow your business. What led you in making this decision?

“The pandemic obviously played a large role in why we decided to double down in a new market. We knew that companies would need on-demand workspace to accommodate their staff with flexible options,” Aoyagi explained.

Thinking 10 steps ahead, Jaime realized that there was a perfect opportunity for him to extend his customer base. “Since we already had space operators and co-working spaces on the Worksimply platform, we quickly recognized we’d be able to serve a new market – SMEs – that would need access to the space operators we were already serving flexible on-demand bookings.

“We sell software-as-a-service to space operators, and today our demand is twofold – on one hand, it’s businesses looking to book space for their employees, and on the other, it’s workspace operators looking for easy-to-use software they can integrate into their operations.”

Groundbreaking ideas are hardly ever lightbulb moments, but rather the result of developing and improving over time. After you made the decision to build in a new direction, what did the process look like?

“Once we realized the toll the pandemic was beginning to take on the world’s workforce and the new wave of opportunity it was creating, we started developing the software for space operators to implement.

As more and more space operators began to use our services, we were simultaneously creating a supply for hybrid-working organizations to choose flexible office space,” explained Aoyagi.

How did the DMZ support you throughout the process?

“Throughout the process, I was able to lean on the DMZ for mentorship and guidance.

As questions came up, I was able to turn to my Program Lead, Mohi Sanisel, who was able to help me navigate through the different challenges that presented themselves.

The DMZ was also able to introduce Worksimply to our first customer leveraging their new model.”

What would you say to other startup founders who are looking to iterate on their core strategy?

“Put your product out there as soon as possible and put your assumptions to test.”

Curious to learn more about what Jaime Aoyagi thinks about the future of work? Check out his recent LinkedIn article here. Looking to provide flexible office space for your time? Head over to Worksimply’s website to learn more.

The future of forecasting: How Granularity uses AI and big data to bridge the industry’s supply and demand gap

To celebrate our women-identifying founders, we’ve put together ‘On Wednesdays, we startup,’ a blog series dedicated to positioning women founders centre stage to acknowledge their work, complexities and wins!

We hope to push women-founder stories forward and share lessons learned and insights for other aspiring women entrepreneurs.

This week, we had the pleasure of chatting Tali Remennik, the Founder of Granularity, to learn more about her startup and how she’s infusing demand forecasting with AI and big data to bridge the supply and demand gap in the sector.

Can you tell us a little about yourself and why you founded Granularity?

“As a data scientist and ex-management consultant, I’ve witnessed first-hand how helpful data science and machine learning can be in solving large-scale problems. I have personally used these methods to help major retailers combat fraud, help governments reduce the risk of traffic accidents and help uncover the underlying barriers to women gaining leadership positions.

Demand forecasting is an issue that consistently resurfaces due to its challenges – and being the engine of every retail business – it can affect a company’s ability to compete in the market. The sector is too often overlooked and issues are starting to trickle out, making consumers take notice. Last year when TikTok had the feta cheese pasta craze we saw a nationwide shortage in feta cheese. The need for demand forecasting is increasing while the sector remains stagnant in producing any new solutions.

This is exactly why Granularity was founded and we are excited to be able to drive progress and remedy this critical issue.”

Laptop screen with forecasting metrics - Granularity blog

What exactly is Granularity’s mission?

“In five years, I can’t imagine a world where retailers aren’t using near real-time consumer data to make decisions about what inventory to order. Consumers are actively communicating their excitement for products on social media and expect their favourite retailers to stock them. Retailers want to listen, and business leaders in the planning sector are eager to bring this data to the forefront of their decision making.

That being said, I know that it’s not easy to decipher the thousands of signals that are being sent daily – from TikTok to Instagram.

And that’s what we’re here to do – help retailers understand how trends can impact their sales. We provide their teams with the actionable consumer insight they need to make decisions.”

Tali, you’ve spent a majority of your career working in AI consulting. What made you decide to make the leap to leave the corporate world and found your own startup?

“When I was younger, I used to imagine being a positive leader – inspiring people to live their passion and purpose. The vision of being a leader has stuck with me and is something that I continue to aspire to do daily. Having my dad, who runs a franchise, only added to this vision and gave me an entrepreneur to look up to. Once that entrepreneurial seed was planted in my brain, I knew I needed to dive in head first.

My time at Accenture is what really gave me the building blocks I needed to start my business. The clients I worked with and the network I was able to create through my experience working in consulting were the key to unlocking curated resources that I could use to position myself as an entrepreneur. This is what allowed me to build a strong foundation and be comfortable embarking on my own entrepreneurial venture. Now that I have been working on growing the company, I am realizing there is truly no other experience that can substitute building a business from the ground up.”

The supply chain industry has been largely dominated by giants for decades. However, over the last 5 years, there has been a significant spike of supply chain management and logistics related startups entering the market. What do you think is the biggest misconception of the space and the influx of new startups?

“Everyone outside of the industry assumes that there is already technology for demand planning and that the market’s problems have been solved. It’s only the parties in the space that understand the lack thereof.

Through working with a few seasoned executives, it was expressed to us that retail and point of sale technologies were largely ignored until the mid-90s, where there was a huge spur of new technology. That was over 20 years ago. It has been almost three decades since the last wave of innovation in supply chain – and more specifically, demand planning. The market was in need of this technology years ago, companies could’ve gotten ahead of the curve.

This is exactly what Granularity is doing for our partners – helping them get ahead of their competitors by predicting and acting on early signs of demand in the market.”

Shipping containers - Granularity blog

The amount of women in the supply chain workforce jumped to 41% in 2021 up from 39% in 2020. However, every leadership level saw an increase in representation except the executive level where there has been a slight decline. Have you had a chance to work with leading women in the space?

“There is always a need to encourage more women to enter the space – there is so much to do and having diverse perspectives will undoubtedly get us there faster.

Granularity is honoured to be partnering with incredible female leaders in the industry. They have a vision of what needs to get done and understand that they need a unique take of the external market to get there. Ultimately, although we are the ones building the solution, I feel like a lot of the visionary ideas come from them.”

What’s next in store for Granularity?

“We are building partnerships with retailers across Canada and the United States to test our minimum viable product. These partnerships are an exciting opportunity for companies to receive actionable consumer insights for their product lines.”

If you work for a retailer, either as a demand planner or merchandise buyer, and want to contribute your ideas to the future of forecasting; please sign-up to provide feedback on Granularity’s product here.

 

If you are a leader at a retail organization and have been continuously talking about improving your demand forecasting, Granularity is actively seeking partnerships. Please reach out here!

Startups, here’s how you can prepare to combat an economic downturn

With record-high inflation, wars overseas and rising interest rates, experts are telling Canadians to brace for an economic downturn and warning signs are starting to trickle to the startup and innovation economy, which can affect in a multitude of ways.

Over the last year, Canada’s tech ecosystem showed explosive growth – in fact – a recent BDC VC report showed that Canada had a record year for venture capital, breaking records by almost every metric.

While some in the startup ecosystem are sounding their warning bells, like Silicon Valley-based Y-Combinator, the industry is still positioned to continue its growth. Is it always going to be clear sailing? No. But what we’re seeing is not a halt to our momentum but rather a course correction.

It’s second nature for startups to pivot and change their mindsets to focus on the opportunities at hand. Just look at Uber, Pinterest and Whatsapp, all household names that came out of the 2008-2009 recession!

We’re here to make sure that founders stay resilient, agile and are prepared to bear the punches that may come their way.

iPad screen with stock market metrics - Economic downturn blog

So what can you do to start planning ahead and super-proof your business? We’re glad you asked.

1. Leverage liquidity.

Finding the right liquidity balance for your business can not only help you gain insight into if you have enough cash to pay off your short-term liabilities. but also allows you to set yourself up for strategic growth. Having enough cash on hand is important to meet financial obligations, but holding onto too much cash might leave important investment and growth opportunities on the table. Finding the right balance will ensure long-term stability and provides a good first impression when looking to secure a loan or other funding.

2. Budgeting, budgeting, budgeting.

This goes without saying, but take a moment to sit down and understand exactly where your money is going and where your main sources of revenue are coming from. Getting a thorough understanding of finances will help make tough decisions – if need be – quickly and effectively.

3. Lock in longer commitments.

Focusing on closing longer commitments such as subscriptions or multi-year agreements with customer, partnerships and client can ensure financial security in uncertain circumstances. Recession or not, this is a great tip for any startup that is looking to extend its runway and demonstrate loyalty to customers and partners.

4. Cut costs.

It’s only natural to turn to cost-cutting measures but it’s important to remember one thing – cutting costs does not mean you need to let go of talent. Cutting costs means reevaluating your spending to axe unnecessary costs. Create plans for different levels of financial scarcity to work for different scenarios the ecosystem throws at you.

5. Back-up business plans are your best bet.

This is similar to the last point, but apply it to your entire business plan. Your best bet in preparing for the unknown is to create multiple overarching plans that fit a range of realistic possibilities. These plans should include securing funding as planned, securing a smaller amount and not being able to secure funding at all. Look at other forms of funding as alternatives, whether it be grants, crowdfunding, bank loans or support from family and friends.

Workers having a meeting - Economic downturn blog

Want to learn more about how you can solidify your contingency plans? Apply to a DMZ program here.

The DMZ’s News Roundup: What went down in May

Power up with DMZ’s News Roundup: a blog series dedicated to providing you with a quick look back on what went down in the Canadian startup and innovation ecosystem this past month.

We’ve got you covered with the most relevant news and notable wins from the ecosystem, DMZ updates and more.

Here’s a rundown of what went down.

INDUSTRY NEWS

New BDC report reveals a record-breaking 2021 for venture capital and private equity deals, while 2022 is expected to experience turbulence

A new BDC report revealed that 2021 was a shattering year for VC, with Canada breaking records by almost every metric. Canada saw a jump in domestic and international VC investing, with 752 deals made, representing $14.7 billion CAD. However, this past quarter, VC deal counts and the money behind private equity deals took a fall. Despite the forecasted challenges, BDC suspects that the startup economy and Canadian entrepreneurs are well-positioned to take them on.

Check out the full report here.

Neo Financial secures $185 million CAD in Series C funding, becomes the country’s newest Unicorn status company

Calgary-based Neo Financial closed their Theil-led Series C funding round, in which they raised $185 million CAD. This additional funding launched the company’s valuation to more than $1 billion CAD, making them the newest tech company to earn official unicorn status in the country. Neo Financial is an online bank bringing a low-fee alternative to the Canadian financial market, helping users save costs on spending and earn high interest on savings.

Learn more here.

Neo Financial becomes Calgary's latest $1 billion tech 'unicorn' | The Star

STARTUP NEWS

SPM solution provider, Forma.AI, is expanding platform development with $45 million CAD secured in Series B funding

DMZ alumni Forma.AI (Incubator ’18), a sales performance management solution provider, recently closed its Series B funding round. With the $45 million CAD secured in funding, they plan on expanding the marketing and development of their fintech platform.

Read more here.

Fable secured $10 million USD to make online accessibility a reality for disabled users

Fable (Incubator ’20), a Toronto-based startup that helps companies make digital products more usable by people with accessibility challenges, announced a $10.5 million USD round in venture capital funding to support the company’s growth. Alwar Pillai, CEO and Co-Founder of Fable, says the company is focusing on unlocking access to more clients by targeting large corporations’ digital teams to target their users.

Check it out here.

WBI-affiliated technology firm CyborgTech to acquire DMZ FinTech alumni Fortuna.AI

DMZ alumni Fortuna.AI (Incubator ’18) announced its acquisition from WBI-affiliated technology firm CyborgTech, home to robo advisory platform Cy, for an undisclosed amount. Fortuna.AI is an AI-powered platform helping financial services scale digital tools to get new clients in the marketing and advertising sector. Fortuna.AI was the winner of the DMZ-Bank of Montreal Fintech accelerator program.

Learn more here.

DMZ NEWS

Introducing DMZ’s Pre-Incubator Fall 2022 cohort of cutting-edge tech companies

In a new DMZ blog, we welcome 13 up-and-coming tech companies into our new Pre-Incubator cohort. Hailing from across Canada, the United States, Brazil, Estonia and Africa, this new cohort is already hitting above their own weight in a diverse range of industries. Check out all the companies in our new Pre-Incubator cohort here.

Looking for more startup ecosystem news and DMZ updates? Subscribe to our bi-weekly newsletter to stay in the know here.