- Posted February 3, 2014 by
This iReport is part of an assignment:
Student voices in journalism
ieIMPACT: Creating Opportunities
Hemant Jindal was on a visit to his native country, India, when he was struck with a plan. A citizen of the United States, he spent ten years as a software engineer before earning an MBA at University of California Irvine. He knew of the many educated Indians that needed jobs, and he had also been exposed to highly skilled and very busy real estate appraisers looking to outsource their data entry work. He quickly capitalized on this opportunity, creating ieIMPACT with just one employee and one customer.
In his initial discovery and business planning processes, Jindal found that many appraisers have historically outsourced their data entry to part-time freelancers. He soon realized that many companies were experiencing the same thing; after months spent training these freelancers, many of the appraisers became dissatisfied with their data entry hires due to unreliability and large communication gaps. Born from this knowledge was ieIMPACT's business model for long-term relationships and a heavy focus on reliability.
Jindal has a passion for connecting non-tech or low-tech industries (real estate) with technological innovation. In doing so, he realized that is is vital to have a user interface that is friendly enough to facilitate coordination among these two worlds. It is for this reason that ieIMPACT has a strong focus on their website. It was designed so that any non-tech person can place an order for data entry in a way that is very comparable to placing an order on Amazon. The ieIMPACT website utilizes state of the art cloud services to provide users a consistently fast, secure and reliable experience. ieIMPACT has separated itself from the competition by providing stringent quality measures (they triple check all appraisals), maintaining very high employees retention, and always providing very fast customer service.
During 2007-2009, ieIMPACT helped over 200 real estate appraisers in valuation of over 2 million residential houses in the United States. Since 2009, ieIMPACT has completed almost 100,000 appraisal reports for companies such as Single Family Homes URAR 1004, Condo 1073, and Multi-Family Houses 1025. All of these services were delivered within the time frame chosen, while operating 24/7 and 365 days a year.
In a discussion with Jindal, I asked where he sees the data entry industry and his own company heading in the next few years. He believes that the company has only reached 10% of their potential in the real estate market, and has massive immediate market share growth capabilities. However, he did mention that they are likely to see slower growth in about two years, as appraisers start moving towards more automated valuations tools which will require lesser data entry and more manual review processes. Seeing this transition from afar, Jindal has been training his employees to become experts in doing review work for appraisers, something they are already doing for many of their clients.
The name of the game for Jindal and ieIMPACT has been organic growth. The company has sprouted from legitimate market needs and has continued to prosper due to a consistent desire to meet client demands. This company will continue to prosper as it enables win-win opportunities for its employees and clients.