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Verification Pvt. Ltd. 1
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Name : URVASHI Verification Pvt. Services : Criminal record verification Civil record verification Financial verification Tenants history verification Employment & Education verification Professional verification Bank A/C search Board of directors : Anish, Monica,Manjunath, Richa, Rita, Rohit, Safvee Nature of the company: Private Ltd. 2
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Mission: “To provide the accurate information related to pre- employment, tenant, screening and business background information” Vision: “To mitigate business risk and operating efficiencies” 3
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4 Company Values: Our shared values that we are guided by are: Leadership Market pioneer Passion adaptable Integrity Accountability Collaboration Innovation Quality Coordination
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Employee background screening has become the norm in the hiring process and many companies businesses, don't have the time or the means to adequately check up on all their job candidates. A background check service has relatively low startup costs and high barrier to entry – Limited competition. you do need a firm understanding of federal, state and local laws. Market is still unexplored & in a growing stage Less investment is required 5
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Targeted market: Corporate. Firms. Individuals. Targeted customers: Financial Institutions. IT company. Automobile company. Insurance company Manufacturing & logistics companies 6
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Knowledge & Information Power have a Biometric Access system electronic fire-walled networks system R& D Government regulations Competitors Mobility of staff Cost structure 7
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o Viability of this concept is great o Untapped market gives us a great competitive edge in this sector o The screening industry has grown by 30% to 40% year on year since 2007 o Background screening is not just confined to job applicants. There are cases where companies ask service providers to run checks on their employees. o "Most organizations have started conducting comprehensive background checks on all levels of candidates 8
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☻ Mouth to mouth advertisement ☻Differentiation strategy ☻Cost leadership strategy ☻Segmentation strategy 11
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13 Staff structure The medium and senior R&D staff:65% Other staff:35% Educational Backgroud of employees 81% Bachelors 4% Experienced 15% Mba’s Strong focus on technological literacy Great emphasis is laid on work culture and employee satisfaction
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14 Technology team of Urvashi Pvt. Ltd Importance to perfect English abilities of reading, writing, listening and speaking. Good, development, space, Competitive, salary, Pension, unemployment and work injury insurance
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Headed by Rita & Monica Headed by Rohit and Manjunath Headed by Safvee Headed by Anish Headed by Richa 15
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Capital ($40664) Asset($18483) Cash and Bank balance($9242) Management ($5099) Sales($5000) Miscellaneous Expenses($2840) Share Capital($3370) Loan Fund ($7394)
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Idea __ ProductGenerating __ RevenueEarning __ Customer Sales building __ Segment Raising __ AwarenessPositioning
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21 Consumer preferences and demand are the predominant drivers for the verification industry Entry costs are also an important factor in the growth of this segment. Profitability in this industry is huge Competition in this industry is steep, as the company has to compete with other alternative service providers outlets for consumer frequency. Because of this companies often create alliances to present a stronger front. Successful advertising strategies, as well as concentration in specialized markets help in allowing company to generate increased revenue.
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SWOT Analysis Strength 1. Varieties of popular services are available 2. Caters to all types of people (individuals, firm, companies) 3. Market for this service is still un explored 4. It has basic requirement for everyone Weakness 1.Global penetration is limited as compared to international leading brands 2.customers find it difficult to trust with their documents for security Opportunity 1. High growth in the industry 2. Globally the process has become the need of the time 3. Tie-up and association with global brands for better global reach Threats 1. Internal competition among brands is a serious threat 2. External competition and price wars decrease the switching cost for a customer
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Distribution system. Organization. New Technology. Scale economies. Customer loyalty. Customer switching cost. 23
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