September 1, 2020
How ozmi helps cosmetics creators reduce time to market
ozmi's comprehensive approach to speeding up the creation process
When asked about business challenges in the cosmetics industry, Nanjunda Rao Rayasam, head of product at ozmiTM, doesn't hesitate.
"The main thing is time to market," he says.
Mr. Rao Rayasam goes on to say that the cosmetics industry currently has a "very analog"—and time-consuming—approach to creating products. This holds creators back, he says, and it doesn't need to be this way. "From idea to market, it should take the least amount of time possible to bring a cosmetics product to market."
Located in Germany and the United States, the ozmi team of engineers uses speed as a guiding principle. The other two, Mr. Rao Rayasam said, are "simplicity and delightfulness."
Early on in the development process, the team determined that the tool should be more than just a marketplace where creators and solution providers can find each other.
Instead, it should be an all-in-one digital space where they can co-create a cosmetic product, from marketing brief to product launch.
"We wanted them to have a seamless co-creation experience," Mr. Rao Rayasam said. “This is why we built-in dedicated collaboration tools and provide smart guidance throughout all steps.”
So ozmi set out to figure out where the bottlenecks are in the analog process, and to eliminate them.
The groundwork for streamlining the cosmetics-creation process
The company did extensive initial market evaluation and collaborated with brand owners and solution providers. A need-based analysis was conducted, working backwards from the tasks that a creator must perform before a product can be marketed.
Once the research was completed, the ozmi vision took clearer shape. It was evident that the platform should provide a well-rounded experience and use a multi-pronged approach to satisfy the needs of everyone in the cosmetics-creation process. Otherwise, ozmi risked becoming a partial solution, and therefore no longer effective, said Mr. Rao Rayasam.
An eight-stage product-creation process was identified.
- Product brief
- Recipe creation
- Packaging and labeling
- Testing and regulatory checks
- Pre-launch tasks
ozmi has been developed to keep the whole process in one place, streamlining the process and supporting all participants. It notifies the owners of the tasks that are mandatory before a product can launch, and organizes the process so it can be completed as quickly and delightfully as possible. For solution providers, ozmi helps promote their businesses, generate leads, reach agreements, fulfill services, and manage and collaborate with clients throughout the process.
In the design and concept phase, the ozmi team learned that document sharing often caused delays. Too much back-and-forth was required before projects could move ahead. So ozmi developed a document vault feature: a secure, private cloud-based storage and sharing system built in to the platform, so that when documents are needed, notification, consent and sharing can happen efficiently with full control over business-sensitive documents.
More solutions for saving time
Another important task is to determine the true total cost to create a product. This is complex and can involve more expenses than some creators anticipate. ozmi algorithms look ahead to requirements that will come up later, so the client knows what to expect and doesn't run into any unexpected time-wasting roadblocks.
In addition, the partner-search process is more straightforward thanks to ozmi's powerful search and discovery feature. Companies signing up to offer services or products on ozmi are verified beforehand, so that their prospective partners can collaborate with confidence.
In the future, solution providers will also be able to use ozmi algorithms to track trends such as buyer behavior, automatically signal if they should enrich information to increase visibility, and more.
Another time-saving measure that's being planned is community review. The rating system allows users to proclaim how satisfied they are with their partners' offerings. In this way, platform users can be sure right away that the partners they find on ozmi are top-notch; the vetting process will already have been done.
The result: speed, simplicity, delight
Our aim is to ensure that ozmi users save time and eliminate inefficiency when looking for partners, developing products and providing solutions. With our collaboration tools and algorithms, processes for brand owners and solution providers alike are faster, less expensive, and more delightful.
To try it out, please get in touch with our team; we'll help determine how ozmi can give your business a boost.