Enabling automobile Enterprises and SMEs (small and medium entrepreneurs) in their critical and high economic value decisions, Droom has launched ‘Droom Cloud Services’, based on its propriety technology and data-science-based software products.
The automobile market is a high touch and feel and low propensity market, selling high ticket items which creates a high trust deficit while buying and selling automobiles or issuing insurance, policy or loans approval, said Droom adding that, in the used vehicle market, there is a high amount of information asymmetry, a lack of transparency and no standardisation model of product or service delivery.
To deal with the informational asymmetry of the Indian automobile market and solve that herculean task, Droom started building automobile ecosystem tools that could create adoption for automobiles online, it revealed.
Droom launched ‘Droom Cloud Services’ which is an automobile cloud platform offering ‘Transactional Services’ to large enterprises and SMEs for enablement of transactions. The new service also generates a trust factor leading to the adoption of automobile selling and buying online.
- Pricing as a Service (PAAS): Pricing as a service is powered by OBV (Orange Book Value) a data science-driven algorithmic pricing engine, to forecast the right fair market value of any used automobile.
- Inspection as a Service (IAAS): Inspection as a service is powered by Eco a mobile app, IoT (internet of things) and AI (artificial intelligence) driven auto inspection service.
- History as a Service (HAAS): History as a service is powered by Droom’s history services. The report will provide details about a vehicle's background. HAAS helps enterprises and SMEs to know vehicles' historical records during buying, selling and procuring of vehicles, or before loan, insurance and policy approvals.
Droom is now offering these services to large enterprises and SMEs as subscriptions, aiming to manage all things around enterprises' automobile business and helping them to focus on growth.
“Droom is the only pure-play e-commerce company with the most suite of propriety tech and data-driven ecosystem of services. Introducing Droom Cloud Services, we are taking our core expertise to the automobile businesses for them to use and benefit from our advanced tools and services. We are sure that businesses will grow, scale, and stand to gain from them," said Sandeep Aggarwal, founder and CEO (chief executive officer) of Droom.
(With PTI Inputs)
