CheckVentory is a Dublin based startup helping businesses take control of their inventory and manage it all from a single, cloud-based platform. They use highly innovative mobile technology to enable audits to be assigned, managed and reconciled on one platform, quickly, easily and accurately.
With a background in the automotive industry, Managing Director, Adrian Walsh identified a need for a more efficient and accurate method for car dealers to self-audit.
“I founded CheckVentory as I was frustrated by the lack of an effective solution to a real problem I experienced in my role as CEO of an automotive distributor. I needed a way of providing inventory on credit to dealerships, but the risks involved limited the amount of credit we could provide. I knew a product like CheckVentory would enable me to de-risk the process and provide much needed credit to our dealers, all I had to do was create it!”
Fast forward 5 years and CheckVentory now provides its field auditing solution to businesses throughout Europe, giving them the tools to quickly, accurately and easily conduct frequent audits of inventory located across multiple sites.
We interviewed Founder and CEO, Adrian Walsh to find out more about the business and why he chose to join Talent Garden.
Can you briefly describe your service?
CheckVentory enables owners to Check inventory. Most people don’t realise that companies like car dealership’s do not own most of their cars on display, they rely on significant loans from banks to fund their expensive stock. As the cars are actively being sold, the funding has inherent risks, making it restricted and expensive. CheckVentory is a cloud-based platform that provides certainty to all stakeholders. The platform utilises significant AI to de-risk the process.
CheckVentory enables banks and dealers to collaborate to eliminate the risks associated with this type of funding, creating a WIN/WIN, enabling banks to lend more and dealers to access credit.
What are the key values driving your business?
Risk, or more specifically the reduction of risk. We reduce risk for our customers through innovation, automation, simplicity, clarity, certainty, robust processes, accurate data, context and business intelligence.
What are the toughest challenges you are facing as an entrepreneur?
Where to begin ……honestly, there are so many challenges, funding, credibility, staffing, time management, sleep… the list goes on!
There are different challenges at different stages of the start-up journey. In the beginning our biggest challenge was our credibility in the eyes of potential customers, we were new, disruptive and innovative, not great credentials when selling an enterprise solution to banks. Thankfully we are now an established player in a still nascent space, but we have some marquee customers and fantastic references, the challenges now are more to do with the lead times of sales and recruitment. We are starting to scale, which is exciting but that brings with it a whole fresh set of challenges.
What do you hope to gain from joining Talent Garden?
For me the key attraction of Talent Garden is the extensive alumni network. If Talent Garden was just another coworking space it would only be solving a small practical problem, by being a dispersed learning community, Talent Garden is solving a much greater problem, assisting its members to grow not only their businesses but their expertise also.
If you weren’t a tech entrepreneur, what career do you think you would have?
That’s an easy one, I’m a late bloomer to start-up scene, before CheckVentory, I had a successful career for over 25 years in senior management, working for big corporates.
I hadn’t realised but when I look back at my career, I was an intrapreneur the whole time, pushing new ideas and initiatives to the various boards I worked with, I think I was always destined to become a founder.