What is Trilyo all about?
Trilyo is Artificial Intelligence driven conversational commerce for business that connects brands with their customers on everyday messaging & voice platform. Entering into the market of Travel and Tourism, Trilyo aims to integrate with their existing system- be it reservation or their operation, making seamless experience for clients.
Bengaluru based company uses AI-driven voice and chat to assist customers with a variety of queries concerning hospitality in India. Trilyo’s AI-driven platform takes care of a whole initial set of hotel processes including front desk management, and feedback monitoring; both of which are vital for customer engagement and retention. This approach is aimed at letting hotels drive sales whilst managing customer preferences with the same level of priority.
Trilyo bot works tirelessly 24/7; it also understands customer intentions and moods and responds in the same tone, be it fun, empathizing or even anticipation. This means that on-demand information will be available 24/7 and companies’ services will be 1-click away in a natural and conversational way. You back with the same excitement?! A quick and instant reply is even better because we all love instant responses. What’s more, texting doesn’t even take your full attention like a phone call would. And all this without having to install a new app. Well, that’s the disruptive power of TIA, and they’re just getting started!
Introducing the founding team
Both founders have an interesting story. They met each other almost 9 years back while working for TCS. While Abhishek’s interest always lied in managing project, Gaurav was a geek. In fact, Gaurav started coding when he was in school. While they have a lot of things in common, the best part of it is that both founders are born on the same day. Abhishek Moharana is the Co-Founder and CEO at Trilyo.
Before devoting his work full time to Trilyo, Abhishek studied at Indian Institute of Technology (IIT), Bombay, following which he served as a Senior Consultant at PwC. With deep knowledge in consulting and tech, he has an outstanding talent for complex processes organization and management of teams of sharp and bright people. He’s a quintessential entrepreneur who is very sharp in analyzing business problems and develop innovative & reliable solutions for businesses in quick time. Abhishek’s forte lies in building strategic partnerships, drive sales & product management.
With an experience of more than 11 years, Gaurav Gambhir is the Co-founder and CTO at Trilyo. His complex technical ideas with the ability to distill them into user friendly interfaces is where is his expertise lies. Formerly part of Bank of America and Ernst & Young, Gaurav secured the Golden Beam Award at Ernst & Young. Additionally, his proficiency in building enterprise application has saved millions for his clients. Gaurav prides himself in providing all his clients, individual and institutional, the most precise and state of the art technology, giving them a realistic outlook to what they can expect to achieve in today’s market.
Trilyo is the company of 20+ members now amongst which 50% of them are in technology and the other 50% is in sales and marketing. At present we are working with 240 hotels. We have generated 25 lakhs so far and the annual revenue run rate is expected to be a 5 fold jump in coming Fiscal year 2019.
It was July 2015, when the idea of reducing the manpower came into the mind of founding team through Artificial Intelligence. The team believes that hospitality is a never ending industry. People won’t stop relaxing themselves for spending sometime on weekend or going on a holidays either solo or with family and friends.
“Hospitality Industry as we all know is $550 bn market but when we see the adoption of technology, they are probably 10-15 years behind other industry. The Hilton or the Marriot’s own a very small share in the entire Industry and who has the potential to invest in tech aggressively to augment customer service with quick adoption of new tech while the rest cannot afford to that. What they are looking for is a potential tech partner like Trilyo who can help them. There are a huge number of 3-star and 4-star players in the market who are looking to bring AI in Customer experience and that’s where Trilyo is helping them. I believe we already were successful with our current platform i.e. Chatbot and we can be more by advancing it and focusing on each and every little detail which is important,” says Abhishek Moharanam, Co-Founder and CEO at Trilyo.
The team members at Trilyo knew the fact that it isn’t going to be easy. At the beginning, they did a lot of research, talked to hundred hoteliers to identify the need and planned for MVP. The next and obvious step was to find the right product market fit, how much to deliver and what the clients will be willing to pay for.
Initially, they started with restaurants industry and later moved on to the hospitality industry. It can be attributed to the fact that their product was better suited for hotels than restaurants.
“We now have the right product-market fit; observing a consistent flow of income which indicates primary revenue stream has been identified and hence we are turning on the heat on marketing activities to ensure that we are the leaders in the space of AI for hotels,” comments Gaurav Gambhir, Co-founder and CTO at Trilyo.
What motivates the founding team at Trilyo
“Entrepreneurship is a never ending job. Once you have started there is no looking back. It is the most enjoyable journey. You know what you want and there is nothing which can be better than this. When you want something different to turn up, first you need to make yourself ready for it. We learned these lessons when we felt yes, we can be on the list of Young Entrepreneurs.
It is basically an unbridled passion to absolutely disrupt the customer experience in the hospitality industry with help of AI. Somewhere we knew that tech business has no boundaries and same goes with hospitality.”
Trilyo is just trying to make advance version of the same. Through Chatbot and TIA, Trilyo is now moving towards the next level customer experience.
Challenges faced and the journey so far
It has been an uphill struggle to achieve what they wanted. During launch period, the team was in dilemma about its product, say will it work? , how the market will react to it? , what can be there questions?, are we prepared? It failed to find the right product market fit, had to shift its focus to hospitality but in the hind-sight the entire team is happy to have taken some aggressive decision based on their learning. Embracing the quirks is important.
“Execution of any idea is tough but once you have got the courage to except the false and do practice the right, it will definitely work,” adds Gaurav.
Market outlook and business opportunities
Market is huge. Industry is demanding and there are never ending opportunities.
When talking about hotels, customer service is a part of guest’s everyday existence. In fact, it should be the reason for the existence and not a chore to be endured. A good and successful business relishes in giving great service to their guests. And they subsequently enjoy success because of the fact that a happy customer is the reason for happier hotel businesses.
Booking online or via OTA is just 30% of your entire hotel journey and the balance 70% is what determines continuous revenue growth, customer loyalty and eventually builds better hotel reputation.
“Initially, the market seemed to be very tough for our product. We started with a limited product which was for only restaurants. We started visiting clients but did not get that good result which we were expecting. Later on, we realized that our product is not only meant for restaurants but it is well suited for hotel industry. We rebuilt it, started working and here we are. Trilyo is now working with 240 hotels in India and soon planning to expand in Middle East counties,” explains Abhishek.
Trilyo runs on three major mantra’s that is acquire, engage and grow. While currently takes care of user acquisition for hoteliers, the company will soon be launching next-generation customer engagement solution where hoteliers can engage with guests real-time without them having to download any application. About the customer engagement sector, the team believes that it is going to evolve on a large scale in near future. In fact, if we look at the current trends in hospitality industry, hoteliers are embracing AI based solution to augment & improve service quality. The team would like to see themselves as the trendsetter in this industry with the most innovative solutions to augment customer experience. And yes, they are even looking to raise series A US $ 1-2 million in the upcoming months.