How Entrepreneur JK Arora is simplifying the Online B2B Trade Experience through Tradologie | Exclusive Interview
When it comes to online trading, JK Arora didn’t just want to be another trading service. He wanted to revolutionize the way India traded. JK Arora has always wanted to represent India on a global scale, and despite trade not being the easiest industry to start with, he knew that he wanted to fill the gaps and take the country to new heights. Hence, Tradologie was born. Tradologie has already garnered over 45,000 users in the short amount of time they’ve been operating all thanks to their unique mantra of making traders connect on an interpersonal level while making them feel as safe and secure as possible. In this interview, JK Arora talks about his years of experience as a businessman and how that has shaped his philosophy in trade, his opinions on start-ups, and much more.
Excerpts from an interview with Mr. JK Arora, Founder at Tradologie –
There’s a lot of information about Tradologie on the internet and it has been impressive to see the reports on the company, but is there something you want to say about your company, for those who want to know more about what Tradologie is?
On the outset, we’re a B2B platform owing to the fact that this is a trade-based platform to cut the middleman out of the process. We make communication between traders as painless as possible by propagating active dialogue and having a space where inquiries are as smooth between the buyer and vendor. We are India’s first global platform, which means that no business person needs to be in India physically to carry out trade. Unlike websites that are essentially yellow pages and directories of where to buy, we are a platform that enables direct trade on a wholesale basis. We are a bootstrapped company that has been far exceeding our targets every year which makes us sustainable and I have a lot of faith that we’re going to be helping a lot more traders in the coming years.
You have had 4 decades of work experience in the steel industry, what’s it been like for you to switch over to a completely different industry with a start-up, and how has that experience impacted the way you work now.
With the abundance of the use of the word “start-up”, we’ve reduced the impact that companies make, whether big or small. If you think about it, everything is a start-up, and all businesses start somewhere. It is pretty great that we see businesses of all kinds starting their journey now so I suppose having a label for it is important, but Tradologie is so much more than a start-up. From my previous experience, I have come to understand what the process between the buyer and seller is and how quickly simple tasks can be bogged down by the lack of resources and middlemen. Having a global platform where the trade happens directly from seller to buyer is an empowering experience no matter how big or small you are. Our solutions have helped us garner a lot of traction and we’ve already amassed over 4,20,000 customers with over 40,000 sellers using our platform. Our emphasis is not just on the seller’s experience but also on the buyer. Buyers have to go to great lengths to get the exact product they want which is why we have a thorough verification process that ensures maximum transparency. We onboard customers only after completing inquiries, establishing complete payment terms, and filling our real term negotiations.
What is your verification process like?
The first step of the process is AI that’s activated when someone makes an inquiry. As soon as he makes an inquiry, the person is asked to specify what kind of product they want and everything is inputted to the system down to the minute details. So, every specification and need is taken into consideration before presenting the product to the buyer. Then there is the KYC process that checks the legitimacy of the people. For big batches and orders, we take past experience and reviews and people are recommended sellers based on their previous records.
Several publications have mentioned the financial success you’ve achieved in the year 2021, how about your plans going forward?
The next 2-3 years will see our focus expand to other countries. Our headquarters in UAE and the MENA region in Africa are also our centres of focus. We currently support the Indian Rupee and the US Dollar and we plan on expanding trade to South America and Canada. By the end of 2023, we hope to make our presence more widely known so that we can represent India’s name on a global scale.
What’s been your experience so far on expanding all over the globe so quickly?
Trade has never been an easy industry to step into, but we wanted to do this despite how challenging it is. Irrespective of the size of a business, running one is never easy. Every business is adding to the framework and creating a new environment, or new practices are always challenging. No matter where a person is from, or what background they have, I want business people around the globe to know that I understand their pain, and I am here to offer my support in terms of changing wrongful business practices.
Could you tell the people who are new to Tradologie how the platform works?
For starters, no matter what the size of the business, people can always trade free of judgement. We also refuse to take commissions from buyers to create a healthy ecosystem. There are about 40,000 buyers waiting to do trade with you if you choose to join us on this journey. Negotiations, price hikes, and so on are transparent, and we will stay far from the actual product to ensure that the business is fair. Our network keeps growing and this is a huge advantage for buyers as there is a variety of options available for each product. We also value communication which is why there is a 24/7 chat option available to stay connected with businesses. If you choose to use this platform, know that we are furthering the cause of getting India’s name out there as a global player in the trade industry. The company is 100% by an Indian company while also staying scalable and sustainable.