Imagine if vendors made competitive bids for the services you need…
Don’t you just love it (insert sarcastic eye roll here) when you begin to suspect that you’re being ripped off but you’re basically powerless to remedy the situation even if you are getting a raw deal?
Let’s say you just bought your first house. The light is great and the sun-drenched backyard is to die for, but the kitchen simply has to be remodeled. You don’t know much about remodeling and home maintenance yet, but your friend recommends a contractor to you, promising that they’re the best. You approach the contractor who gives you a quote well above the budget you’ve put aside. But what can you do? You’re certainly no expert and you’d rather have the job done right once even if it costs a bit more. So, you fork over the cash.
Short of approaching several contractors yourself and negotiating for weeks with each to lower their prices, this is a difficult situation to avoid. Well, now there is an approach that puts you in control, and it’s called YINC.
YINC is a new blockchain-based platform for finding and hiring vendors for just about any service you might require and they have turned the services industry on its head, bringing vendors to you with competitive bids for your business rather than making you go to them. Once you create a job lead on YINC with the details of what you need, a few vendors will contact you quickly with estimates, questions, suggestions and tips so you won’t be left in the dark.
Perhaps best of all, YINC has developed and implemented a system that creates an enhanced competitive urgency amongst vendors when bidding for a job. That means you get better overall treatment and competitive estimates that save you money. YINC spent the better part of 2016 and 2017 putting this system to the test in real-life scenarios in order to ensure the viability of the competitive urgency before introducing the concurrency element. Here are just three that highlight the efficacy of the YINC approach:
1. Savings: $100 (and a lot of time)
A customer who needed to hire a moving company to transport a treadmill in New York was quickly given quotes from three different companies of $350, $290 and $250. No need to think too hard about which company won the bid and moved the treadmill. Sometimes simply having easy, quick access to the range of options available is an automatic money saver.
2. Savings: $2,985 (approximately)
When one consumer needed an exterminator to diagnose and take care of an unknown bug problem in his home, he was probably a bit dismayed to have three different vendors tell him he had a bed bug infestation that would cost him as much as $3,000 to get rid of. Then confusion and curiosity took over when a fourth vendor said the entire problem could be fixed for about $15 and the photo he had included in his YINC lead wasn’t a bed bug at all. The $15 would cover the cost of an over-the-counter spray that would take care of the problem.
The honest fourth vendor explained that the proper bed bug extermination could be useful as a precautionary measure against potential dormant bed bugs, but who wouldn’t try the $15 spray first? And what company do you think that customer will call if he or anyone he knows ever does have bed bugs?
3. Savings: $77,500 (!!!)
A New Jersey-based real estate management company looking for power washing services for three commercial properties got five bids through YINC: $10.5k, $18k, $49k, $65k and $88k. Whoa! What was going on there? How could there be two bids under $20k and three over $50k for the save service? Discussions with the vendors revealed that the more expensive estimates included the use of a “lift machine” to go up and down the outside of the buildings. In the end, it was decided that the job could be done without such expensive equipment. Honesty won the day (and the bid) again.
Think of YINC as the new, incorruptible sheriff in town, setting the rules for honest and neighborly relations in his jurisdiction. Bribes don’t tempt him and lies don’t sway him. It’s about time the scales underwent a rebalancing.
