Bangalore-based OyeSpace started its journey two years ago. Sunil More Shivaji Rao, Founder, breaks down what goes into the security management system and speaks on his innovative ideas.
After working for almost two decades in the IT industry with companies such as HUL, AXA, Ocwen, Infosys, SwissRe, Hexaware, Accenture and Capgemini, Sunil More decided to travel the world and research extensively on how home security systems work abroad. He dreamt of amalgamating his tech expertise with ingenious ideas to create foolproof home security and property management systems. He collected substantial evidence and eventually a positive market research report helped him embark upon his entrepreneurial journey in October 2017.
“I have seen how our ancestral two-storied duplex bungalow with a lawn being demolished to become an apartment complex and the way it is managed,” says Sunil. He added that though the demolition had a detrimental impact on him, he channeled his energies and carved a niche in the field of property management. He says he learnt a lesson and quoting Shannon Davis, he adds, “Property Sales is like dating; Property Management is Marriage,” and he appends, “Do it right first time and right always!”
Property or asset management, a branch of the real estate sector, is evolving expeditiously in India. Property managers furnish the stakeholders with a whole lot of services like maintenance, renting, renovating, and security of a residential or commercial property. With a promising revenue model, the field is gaining momentum amongst start-ups.
Talking about the approach of his venture, Sunil says, “At OyeSpace, we do not think out of the box. This is because we believe there is no box at all! So, we do not think out-of-the-box, and rather, free ourselves to think and get innovations anywhere and everywhere. Hence, everything we do is innovative.”
Sunil explained that the business model of OyeSpace embodies a symbiotic relationship between innovation and usability. They are pioneers in introducing security management system ensuring that the guards manning the homes or offices are doing their duties diligently by intertwining accountability, ease of use, and visibility.
He says “the vision of OyeSpace is: To Build and Deploy Full Spectrum Innovative solutions in Property Management ensuring customers are delighted with these solutions that help them get peace of mind and see appreciated property values, and while doing all this, making OyeSpace synonymous with property.”
Oyespace has been a success in Delhi-NCR with more than 300 installations and they will venture in Chandigarh, Ludhiana, Gwalior, Lucknow, Patna, Indore, and Jaipur by next quarter and target to cover the entire country by 2020.
Residents from New Delhi’s Dwarka sub-city have expressed that OyeSpace has surpassed their expectations and ensured top-notch security. Customers from Gurugram and Noida have also expressed their satisfaction with OyeSpace’s products of residential security. They applaud the biometric-based attendance system for the guards and said that they feel much safer and at peace.
“Statistically, the most number of security-related incidents happen between 2 am and 5 am which is also the time when people are in deep sleep. The security guards are no exception to this phenomenon. We understand the reason people are always in the pursuit of happiness and peace of mind. We ensure this by making sure that the security guard is performing his duties diligently,” says Sunil, on the functionality of the systems they provide.
Elaborating on the solutions that OyeSpace provides, he says that the Security Guard Patrolling system involves GPS and QR Code for automatic reminders based on machine learning algorithm, and guests and vendor validations. They also provide biometric validation of all staff entering and exiting the vicinity. They install OCR based number plate detection that differentiates between resident and non-resident vehicles.
“Machine Learning itself is in its infancy and yet it is being blended in our daily lives. We, at OyeSpace, have taken long strides in Machine Learning based predictive models for Maintenance Collection at apartment complexes based on historic spending patterns – improving fund management,” he adds.
OyeSpace is on the lookout of spreading its wings across India with products such as Hawkeye – Completely Autonomous Drones for patrolling high rises, Acti-view – transforming CCTV systems, Smart Pay solution for apartments and gated communities that ensures better services from the vendors, Integrated validation with prominent e-commerce services and Seamless Integration with Digital Personal Assistants viz., Hey Siri, Ok Google, and Alexa that ensures reduced payment collection cycles and timely payments to the vendors.