– B Swaminathan | IMAWS
According to the present market scenario, smaller customers do not have an organized way to reach out to the international courier customer. With the limited resources, international deliveries get hampered. Selfex is India’s own international courier service. It has been operating domestically and internationally since its launch in the year 2021.
In an interaction with CMR, Raj Bajoria, Co-Founder and COO of Selfex speaks at length about the organization’s plans and their reach avenues. Edited excerpts.
Q1. Please explain the pain point in the market that you are addressing.
Ans. Selfex strives to address the gaps that are not being met by other courier companies. They aim to provide innovative services that are not currently offered by other major players in the industry. Additionally, Selfex prides itself on delivering standard services with the advantages of an advanced platform and cutting-edge technology. It provides logistical support as well as training to other courier companies, while also bringing them to the forefront of the business of international courier delivery.
No more paperwork, no hassles and no lengthy processes. Neither do we require any capital. The only transaction involved would be the service charge when they work with us. We provide access to one of the largest networks of financial services through Selfex and arrange short-term funds for businesses with a large degree of convenience. The businesses can buy sector stocks directly and save on the margins of third-party agents, and can also book orders directly.
Q2. Selfex now offers its services in more than 150 nations, with the USA, the United Arab Emirates, Europe, and the Far East receiving the majority of its attention. Could you tell us about Selfex and your experience to date?
Ans. We had just two sectors and countries to serve when we began our journey, so it was humble beginnings. But it is only because of the encouragement and confidence of our clients that we have been able to grow our business to this point. Despite having to overcome numerous obstacles, our journey has been a great success.
Q3. How do you intend to reach your anticipated turnover of more than 100 crores of Indian Rupees in 2023?
Ans. The main objectives of our strategy are to expand our B2B clientele, raise our company’s profile, and provide the highest quality of customer service. We are confident that by concentrating on these crucial areas, we can hit our target turnover for 2023 and beyond.
Q3. How do you envision the logistics industry evolving, particularly in light of recent technological developments?
Ans. The development of technology will have a significant impact on logistics in the future. Logistics is driven by artificial intelligence (AI) and other technological tools, and in the years to come, their significance will only grow. Systems and procedures for logistics will be optimized through the use of technology, leading to greater effectiveness and lower costs.
Q4. What effects does reverse logistics have on the company?
Ans. Reverse logistics is an essential part of any successful logistics operation. Reverse logistics can lower costs, add value, lower risk, and finish the product life cycle by maintaining an efficient flow of goods. Businesses that want to maintain their competitive edge and long-term success must concentrate on reverse logistics.
Q5. What are the differences between B2B and D2C logistics operations?
Ans. B2B and D2C logistics work in different ways. Businesses that engage in business-to-business (B2B) transactions offer both B2B and B2C business models. Banks are a great illustration of this because they provide both retail banking services for private customers as well as business banking services. Instead of using a distributor or wholesaler as a middleman, direct-to-consumer (D2C) shipping involves brands sending their products directly to the end user.
Q6. Would you be able to discuss some of the tactics that helped Selfex generate INR 20 crore in revenue in the first quarter of 2023?
Ans. We used state-of-the-art technology in conjunction with unwavering persistence to achieve success in the first quarter of 2023. We were able to secure INR 20 crore in business by adhering to our business plan and achieving 80% of our objectives. We will continue to rely on our dedication to excellence and our use of cutting-edge technology to fuel our success going forward.