Baskar Manivannan, CEO of VenueLytics, is betting that his hospitality and entertainment software-based reservation service will stand out from the many similar offerings in the entertainment field.
VenueLytics provides such services as reservations, tickets, food and drink by ordering through an app, a website, a chatbot, Facebook and Instagram.
The goal is to make it easier for the consumer and the business that takes the booking, but it has also become a crowded field because of the ease of use. The TV show "Shark Tank," for example, has fielded several entrepreneurs who want funding for this kind of offering.
Manivannan says no two of these services are alike and VenueLytics stands out through its real time access and the use of chatbot technology to provide services. He also said the many ways to access the services gives it an edge.
Features include an automated concierge service: reservation, booking, VIP services, deals, promotions and ticketing, advanced analytics and a digital marketing platform.
VenueLytics has customizable platforms for large accounts like casinos, resorts, stadiums, concert halls and franchises, as well as smaller bars, nightclubs, restaurants, lounges and bowling alleys.
VenueLytics “will absolutely succeed,” Manivannan said. “We see this as a great opportunity for disruption and innovation in the hospitality and entertainment space.”
There are measures in his favor, including millennials “who want to do everything real time,” Manivannan said. And there is a generally growing reliance on using social media for just about everything.
That’s why Manivannan speaks with confidence about the company he started a year-and-a-half ago after developing its software. “I’ve always enjoyed technology,” he said. “I like to innovate constantly.”
VenueLytics was started with some of the proceeds from the sale of his former company, which provided targeted offers to consumers through software. The startup also has angel funding and is going for seed funding in the next couple of months.
Manivannan said the company is working with 100 businesses and customers who have access to 75,000 venues listed in VenueLytics’ data base.
Operational challenges include “how to balance between focused execution and strategic planning to stay ahead of the curve in tech and innovation,” Manivannan said.
There is also the goal of “getting more customers and focusing more on AI and advanced analytics,” he said.
Fast Five with Baskar Manivannan
What are the most important traits for a leader?
Listening, being empathetic, empowering people and being trustworthy.
What's one tip for motivating employees?
Be passionate and focus on making customers achieve success.
What's the key to finding new opportunities for revenue?
Understanding the biggest pain point for a customer and making them successful.
How important is company culture to your business?
Very—making sure we are open and focused on our people.
How do you hire?
We look for people who are passionate, have integrity and accountability.