Each year, service-based businesses lose upwards of $1.6 billion in revenue due to poor customer experiences. For entrepreneurs living and working in Latin America, customer service challenges arise from simply not having the right tools to manage business processes. It’s what inspired Waddi, an AI-powered business management suite, to help Latin American business owners streamline how they run their service-based businesses.
“We spent the past ten years getting to know all the frustrations from the perspective of the customer… Only to realize that it’s often on the side of the supplier due to lack of technology and knowledge of how to function in a digital age,” explains Jennifer Reyna, the company’s co-founder and CEO.
Building Based on Thousands of Customer Experiences
Reyna and her CTO, Jesús Ochoa Bojórquez, began work on the brand just last year. Ochoa Bojórquez passed away suddenly in early 2023. However, the founders were not unfamiliar with the challenges that Latin American businesses faced. They previously spearheaded OkBoy, an app-based marketplace that helped connect homeowners with essential services such as plumbing, landscaping, and general handyperson services.
After executing more than 18,000 service requests, Ochoa Bojórquez and Reyna, along with Jhoset Camacho, another Waddi co-founder, recognized the broader complexities in obtaining services at home, stemming from challenges like delayed deliveries, scheduling challenges, and inefficient communication. Here, the co-founders recognized an opportunity to support the customer-business relationship holistically.
Run on a SaaS business model, Waddi offers scalable business solutions for service providers. The platform offers highly customizable, modular workflows paired with automation and AI-driven insights to help entrepreneurs manage each part of their customer journey. With more efficiency and data-driven decision-making, customers also benefit from a well-run business.
Unique Opportunities in the Latin American Market
While business management platforms are nothing new, Reyna points to the potential of one tailored to Latin American business owners. Building on the founder’s decades of experience working within the region, she saw firsthand the outdated processes many small businesses use to function. Waddi aims to replace those Excel spreadsheets and pen-and-paper systems with a more accessible and adaptable solution.
“There’s a huge gap between what is going on in U.S. and Europe compared to Latin America,” Reyna points out. “Compared to the U.S., where 52 percent of businesses are moving towards digitalization, we discovered only 1.5 percent of businesses in Latin America are using this type of technology.”
The company also aligns with rapid expansion within Latin America’s budding startup ecosystem. The technology can help address the necessary technological infrastructure the region will need, says Renya, which makes for an opportune time for Waddi’s go-to-market efforts.
Looking ahead, Waddi is already anticipating the growing needs of its Latin American users. According to Renya, the company plans to incorporate AI-driven logistics, API integrations, and enhanced data visualization through intuitive dashboards. Waddi is currently working to raise the necessary funds to further product development. See how Waddi is helping service-based providers in Latin America and beyond do business better at waddi.io.