October 11, 2017 10:40am
INVESTOR SPOTLIGHT: SkuVault
Founded In: 2011 By: Andy Eastes and Slav Ivanyuk
Number of Employees: 54
Describe what your organization does in two sentences.
SkuVault is a warehouse management technology platform that empowers B2C and B2B companies to optimize their operations at a fraction of the cost. We provide fast and hands-on customer service, actionable data, and automated processes to reduce supply chain inefficiencies.
Who do you serve?
We serve small to enterprise businesses who want to optimize their inventory with a special focus on ecommerce merchants.
One fact you may not know about my organization is…
Our largest competitor is Microsoft Excel. We are constantly amazed at the quantity and size of companies that do not have a good system in place to run their warehouse operations. Very large companies are often running their warehouses on Microsoft Excel, or even worse, no system at all. One of our main competitive advantages is that we have a simple to use interface, especially in the warehouse functionality. This helps us to succeed when implementing companies that have never had a warehouse management system.
What sets your business apart from others in the way you attract and retain talent?
Our relentless process of embedding our core values into everyday life at SkuVault with the goal of creating an ‘Employer of Choice” organization.
SkuVault believes in a strong “Team Member” atmosphere that thrives through the actions of the company. Our core values set the tone and foundation to how our organization works:
- Integrity and Transparency builds rewarding relationships.
- Innovation and Free Thought promotes change which creates opportunity.
- Empowerment enables people to lead.
- Synergy of skills to co-create drives success.
- Waste Reduction improves our product and everyday lives.
We believe our Team Members are the largest asset of our organization and we strive to display this in our everyday actions, core values, and benefit programs.
We believe in a strong work / home life balance with our strong paid-time-off program, which enables a first year Team Member to earn as much as 13 paid days off in a calendar year. That number rises to 25 paid days off at year 5 with the organization. We provide flexible work schedules, a casual office setting, free drinks and snacks, free company SWAG, an office lounge with games, company events, and Team Member nominated recognition programs. We strive for a workplace setting that provides an avenue to have everyone’s voices heard through solidified idea programs, Team Member surveys, and old-fashioned face to face communication.
We are extremely proud that we released Health, Dental, and Optical coverage options, as well an extremely strong employer match retirement plan, at an early stage in our organization’s age. Monthly incentive plans paid at all levels within the organization keeps all Team members focused on the most important aspect of our business, our clients.
A relative new process we have created within the organization is “SWOB,” Solutions Without Blame. These SWOB initiatives are designed to investigate an event that occurred as a group with the sole purpose of identifying potential improvements in the processes and/or learn from our mistakes with the key element being, without blame. It’s OK to “mess up” and learn from it.
Although we are one of the fastest growing entrepreneur-owned companies in the US acknowledged by the accolades and awards we continue to receive: Inc. 5000, Inc.Credible Awards, Fast 50, it is not our accolades that drives us day to day. These acknowledgments support our efforts and prove we are making a difference to our clients, partners, and team members.
What do you like about being an investor in Greater Louisville Inc.?
We enjoy staying connected to the community. GLI makes sure we keep up to date with events going on in town, what or who we need to be keeping an eye on, and how we as a team can engage. Many of our mentors were originally connected through the GLI community and without that community we would be very lonely. The ability to have a question answered by a network of the best people and business leaders is invaluable to a young company.
How does your organization engage in the community?
SkuVault has partnered with two community organizations on a regular basis over the company’s 5 years: YMCA SafePlace and Dayspring Community Living. At SafePlace, team members give presentations to youth on professional development, as well as an overview of marketing and coding. At Dayspring, team members help with manual labor, marketing, and resident visits. SkuVault gives regular donations and participates in charity events for both companies throughout the year. Yearly food drives and company charity matching events are also held to foster teamwork and company pride.
SkuVault is also committed to working with TechHire, the Obama administration’s initiative to connect middle-class Americans to technology jobs, and strengthening Skuvault’s relationship with Louisville’s technology, entrepreneurial, and startup communities. Our CEO Andy Eastes believes our local presence will keep tech jobs in our community. SkuVault is commitmed to helping startups and small businesses through local hiring, donations, memberships, and participation in GLI, Code Louisville, YEC, and Endeavor Louisville.
How can people engage with your organization?
People can engage with our organization on SkuVault.com as well as on Facebook, Twitter, Linkedin and Google+ with handle @SkuVault.