Founded in 2016, Increff is a software-as-a-service (SaaS) provider. Its goal is to help brands collect data for algorithms that deliver the best business advice, with the goal of increasing sales and supply chain efficiency.
For our Names With Stories series, Anshuman Agarwal, Co-founder and COO of Increff, discusses the origin of the brand name, their choice of the domain name, and the process of acquisition, as well as their views for the future of Increff.
Can you tellus a little bit about yourself and how Increff started?
I am Anshuman Agarwal, Co-founder & COO of Increff. I am an enthusiastic entrepreneur and a management professional with more than 20 years of work experience as a strategic leader and technology expert. Working with growing startups and tech-industry disruptors, I have transformed business processes through re-engineering, digitization, and technological optimization.
Rajul, now Co-founder and CEO of Increff, and I met while working at Myntra, one of India’s largest e-commerce marketplace for fashion and lifestyle products. Rajul was heading the Supply Chain and I was handling Operations. Solving supply chain and inventory management challenges, we witnessed how technological disruptions were evolving the retail landscape. This got us thinking about how we can build agile, flexible, and sustainable supply chains, for low-depth categories e.g. fashion, beauty & lifestyle. We brainstormed ideas with Romil, a tech expert and now the CTO of Increff, on intelligent merchandising and smart inventory management solutions that can help traditional large brands, and startups, build operational proficiency to scale sustainable retail businesses. This led to the genesis of Increff in 2016, a company that is focused on using high-tech innovative solutions for data-driven decision-making and building efficient, sustainable supply chains for retail and fashion brands.
How did you get the Increff.com domain name? Why was it important to get that one exactly?
The retail industry is growing rapidly and technology is redesigning its future. Brands need to keep pace with the change to survive and sustain themselves. Automation and digitization are adding value at every step of the retail supply chain and helping us save valuable time spent in decision-making by optimizing the use of resources for future-focused, sustainable business growth. Increff is founded on the vision of building innovative technology solutions that bring incredible efficiency to processes in the retail supply chain through automation and digitization.
Our brand name is derived from INCRedile EFFiciency hence it was very important for us to get the exact domain name. We did discuss other options but nothing was as impactful that matched our vision of building efficient solutions.
Anshuman Agarwal, Co-founder & COO of Increff
And since this is a unique amalgamation of two words that best described what we set out to do, it wasn’t very hard securing the domain name.
What value do you think Increff.com brings to the Increff brand? Do you own any other domain names?
Our website Increff.com represents us to the outside world. It is a point of contact for brands and retailers globally, looking to build a strong, agile, and flexible foundation for their retail business. It is our platform to showcase our solutions, build credibility in the industry through client testimonials and success stories, and share our knowledge on retail tech innovations through our blogs and articles. It is a one-stop platform for prospective clients to learn more about us and reach out to us with questions and queries regarding our products and services and discuss how we can help them in their growth journey. It is also a channel of contact for career-oriented, future-focused, passionate individuals looking to challenge themselves in achieving maximum potential and building a successful career in retail, data, and technology.
Our first domain name was NextSCM.com, where SCM stands for Supply Chain Management. This is also our registered company name. Gradually over a year, we realized that it’s not just the supply chain that needs optimization but the entire retail ecosystem. Our solutions help brands and retailers build agility and flexibility through digital transformation and automation at every step of the supply chain. This helps in rapid decision-making, for higher sales and faster business growth.
What was the vision and purpose of your company when it first started and how has Increff evolved as a brand since?
Working in the fashion and lifestyle industry, we were well aware of the challenges and the inabilities of the traditional software solution. The fashion industry is the most complex and dynamic as trends keep evolving and demand analysis is tough. Brands need specialized tools to analyze past sales and anticipate future trends so they can capitalize on them considering the lead time for getting the right stock in place. They require efficient solutions to analyze in-season changing demand patterns and optimize stock redistribution to maximize sales. Similarly, it is critical to understand post-season liquidation scenarios so brands can earn maximum returns while emptying their stock and making space for the new season stock. With the growing e-commerce retail and the need for same-day deliveries, brands need smart warehousing tech solutions that can help brands minimize the wastage of resources, and boost efficiency in processes. Our new-age solutions are built considering the drawbacks of traditional solutions. They are designed to address granularities in decision-making, similar to the uniqueness and dynamism of the fashion industry, and built to assist retail brands in establishing a strong, flexible, inventory management foundation that is easy to adapt to the changing demand patterns and trends.
We started addressing the granularities of the fashion industry. After proving our expertise in fashion, we started diversifying our solutions for other retail verticals. Today we are solving challenges for more than 10 retail verticals, including; Cosmetics, Eyewear, Baby care, Agri-business, Electronics, Furniture, Luxury, Books & stationery, etc. We have automated inventory management, and our software solutions are built on self-learning algorithms that improve inventory accuracy and enable easy business scalability. We believe that innovation is the best way to flourish and stay ahead in the competition, therefore we’ve revolutionized the way merchandisers, planners, and warehouse managers work today.
We keep adding new solutions as per industry requirements and regularly update existing solutions to keep our technology top-notch.
In your profession or area of expertise, what are some of the bad brand naming recommendations you’ve heard?
I don’t think there are any bad brand names. If you think your brand name describes your business well, it’s a great brand name, even if others may not agree. However, one recommendation I have for people choosing a brand name is that you should try and be unique simply because you want to be easily recognizable in the industry and your peer group. Your name becomes your first identification and it best be something that is unique and relatable.
You should try and be unique simply because you want to be easily recognizable in the industry and your peer group. Your name becomes your first identification and it best be something that is unique and relatable.
Anshuman Agarwal, Co-founder & COO of Increff
What do you do to make sure your marketing is effective?
We are a retail data and technology company helping brands minimize waste by optimizing inventory management to maximize sales and increase profits for sustainable retailing. Everyone in Increff is aligned with, and working towards, this common vision which is reflected in all our internal, as well as external communication. We are dedicated to servicing our client’s needs in the best possible way for which we have in-built quality-driven matrices to evaluate our products and services. We give high weightage to building accuracy in processes and truly believe in honest, transparent communication on brand performance and achievements on social media. We are open to feedback and don’t shy away from suggesting competitor solutions to prospective clients in case that is a better fit for the need.
What would your advice be to entrepreneurs who are just starting out?
Successful businesses are not built overnight, they are built on consistent hard work, unwavering dedication, the ability to overcome failures, and most importantly a team working together towards a common goal. Businesses become stronger when they invest in their employee’s growth and career so each employee independently, but coherently, contributes effectively to building the company. I think businesses should focus the most on setting the processes that are easily replicable and training the early teams in following these processes. The processes in themselves can keep evolving as the company evolves but it is important to build it right the first time so that scaling becomes easier and faster.
What do’s and dont’s can you share when it comes to branding and naming?
Your branding should be in line with what you do and the quality of your work. Don’t complicate the brand name, keep it simple. It should be easy to read, understand, remember and recall.
Anshuman Agarwal, Co-founder & COO of Increff
What is next for Increff?
We aspire to be the world’s most preferred technology solution company that optimizes the world’s inventory. After our last round of funding, we are now focusing on global expansion, in the US, Europe, and the Middle East. We have collaborated and partnered with multiple organizations and domain experts in respective geographies to aid us in our global commercial development strategy. We are also leveraging our existing relationships with global brands to spread brand awareness and expand our client base e.g. Puma India is taking us to Puma Europe, Bata India is helping us connect with Bata global, etc. We are building an in-house, geography-focused, modular sales team through extensive training and a strict recruitment process that ensures our team is stronger with the best talent pool.
Last thing, if some of our readers have more questions. Where can they reach you online?
Readers can reach out to us at email@example.com for any queries or they can book a demo with our sales team at Increff.com.