Enhance Your Sales Process with Sales Process Automation for Construction Industry

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thanks merrill great thanks for the great introduction hi everyone we're grips uh we're building a connected intelligence platform for the construction industry i'm doreen and this is my co-founder emir we both come from a construction background with a combined experience of more than 20 years and with a focus on construction tech we worked together for over five years and recognized that we could do better than what is currently offered construction is 13 of the world's gdp yet it suffers from disappointing statistics on productivity sustainability and digitization i grew up in egypt and my co-founder amir grew up in iran we both dreamed about working on historic projects in the new digital age once we started working unfortunately our dreams were crushed by an amazing industry but labeled as one of the least digitized the industry is extremely document centric everything is using documents these documents are scattered across systems and people with big dreams are stuck doing boring tasks that stifles their creativity and stagnates productivity we worked on an inmate on amazing projects in new york city and we were tasked with innovating and making the processes on these projects more efficient we tried to use existing solutions but witnessed first first-hand the challenges with that despite the large budgets and investments in construction tech 90 of global construction is still over budget or delayed it's not only about budgets or delays but it's also about operations and productivity at a new york airport because the contractor didn't have access to the right information at the right time they accidentally hit underground power causing a power outage with 160 flights delayed or cancelled how did this happen information is there but why couldn't they access it software is available and solutions are available for point point uh problems they're not integrated and they're siloed and the information that we're talking about is scattered where you don't know where the right information lies a lot of the information loss happens across the different phases so from the handover from one phase to the next all the way from planning to renovation grips reaches across these different phases collecting all the information and providing unprecedented access to quality data we believe that there's two fundamental things that have to happen in order us in order for us to improve as an industry one is the connectivity of different systems and second is the data access uh and quality we solve connectivity by our ingest platform which utilizes robotic process automation technology and existing apis in order to access information and data from different systems that feeds into our understand platform that uses machine learning to really create data by labeling the different documents and extracting information from them and third we deliver the information to the right people at the right time in other words we are that platform api with our ingestion or understand platform that connects these different systems used on the on all the projects and phases and delivering that through our delivery platform to the user for different applications we talked about information loss from one phase to the next one of these phases is closeout it is the handover from construction into the facilities management the owner is stuck at the end of the project with a lot of information millions of data and documents from the contractor who's ready to move on to the next job who dumps really all this information onto the owner and then owner has to look for everything they need to operate and maintain the building and 30 percent of the data that's generated during construction is lost by the time it reaches closeout on one of our pilots at hudson yards we've ingested using our grips proprietary grips and just platform 100 000 documents and 2.5 million data points providing faster access than there ever was before to information about their building the next step after that becomes how to open these documents and extract pertinent information from within them in just two pages for example of a change order document we are able to understand the supply chain that was implemented on a project the different prices paid for products and materials for choices that people made and the network of companies that's typically not transparent the industry is ready for change and like evan mentioned it's similar to what fintech was 10 years ago it needs founders who understand it solutions that accommodate unique workflows and contractual relationships and address the different stakeholders that may have adverse interests at times with our continuous improvement and wealth of data we will be able to provide the industry with more intelligent solutions and expand into the procurement and supply chain of the construction vertical we're growing our engineering team and would love to hear from you if you're interested in grips thank you