Resolver, a free online tool to assist consumers in raising and resolving issues
Resolver acts as a bridge between the consumer and the business, championing better outcomes for both the consumer and the business. Originally started by James Walker in the UK, Resolver India is an Indian startup which was founded by Pratyush Singh, CEO and Himanshu Singhal, COO in January 2019.
Resolver enables consumers to connect with companies in a structured manner and helps businesses to understand customer grievances better - thus empowering both to amicably sort out unresolved matters. It aims to break down the walls between consumers and businesses by building trust and understanding through fast, jargon-free issue resolution. Resolver provides intelligence to businesses to help them identify areas of development and become best in class through effective complaint resolution.
Challenges faced in Indian market, how is it different from other markets?
India, as opposed to the UK market, is more volume driven than value. The Indian market is poised to become the third largest consumer market in the world by 2030 and is predicted to scale up to $6 trillion from the current $1.5 trillion, as per the World Economic Forum - Bains 2019 report. Growth of the consumer market would imply a logical increase in the scale of consumer complaints. Last year saw a huge spike in the number of complaints – 42% spike was seen in complaints against ecommerce companies alone. With the increase in number of consumer complaints, providing swift and structured resolution to these issues becomes very critical and imperative for the growth of the economy.
How can effective consumer redressal help businesses?
When it comes to complaints, every consumer should have access to a fair and easy approach towards grievance redressal. There was a need to simplify the process and ensure consumers get their due share. Resolver India has a two-pronged approach for speedy resolution to resolve consumer complaints - empowering consumers to connect with companies in a streamlined way and helping businesses understand customer grievances better, thus making way for amiable solutions. Our online complaint resolution platform uses Machine learning (ML) and Artificial Intelligence (AI) to suggest recommendations on next steps that can be taken by consumers and organizations to get the complaint resolved faster.
Resolver helps businesses to resolve customer grievances better by providing them data intelligence around how other businesses are dealing with their consumer complaints, this data is shared on a complete no name basis. No company wants to lose their customers and Resolver helps bringing the companies closer to their customers by helping them understand consumer insights and psyche. With the help of Resolver, companies can become up to 30% more cost efficient, and helps them structure their complaint resolution mechanism.
Business & market strategy for Resolver in India
Our strategy is to work in collaboration with all the stakeholders in the ecosystem. The idea is to introduce ourselves to key consumer organizations, pro-consumer organizations and create awareness within the consumers. We want to focus on four sectors – Telecom, Travel, Finance (Banking and Insurance) and Online Shopping.
The idea is to gather intelligence and insights from legitimate complaints in the ecosystem in the 4 categories that we are targeting. We are collaborating with 2-3 companies in every sector to help drive and increase in customer satisfaction for these companies. Data Intelligence will help us in making positive impact on the entire ecosystem, an impact which will help consumers, businesses and governments all together.
We are also conducting surveys amongst our target user group to understand their behavior, expectations and motivations around complaining.
Future plans
We want to increase our user base in the next 12 months. We are launching a feature which will help consumers to directly reach out the ombudsman in Banking and Finance complaints. We also are working towards launching the website in Hindi within the next 6-9 months to increase reach.
We will increase the number of companies on our platform from 3000 to 15000 in the next 12 months and will integrate with key consumer organizations in a collaborative manner. We are adding more consumer rights on our website which will help consumers make better decisions on their complaint journey on our site.
Competitors – what makes Resolver stand apart from its Indian Competitors?
There are two ways to look at it. If you look at the direct competition there are no other player in India doing the same thing. Mouth Shut is one of the portals which did very well, simply because they understood what consumers really wanted and spoke to companies regarding consumer complaints with an aim to solve issues.
These days social media platforms such as Twitter, Facebook, etc. have also become a huge platform for consumers to voice their complaints. We don’t consider these platforms as our competition, rather these are outlets for consumers who are unable to find a resolution to their complaints.
