And we said that we will build for this company such solution that cuts over 15%, that means over 6 hours, of ineffective operational work for managers and give for companies owners more control, transparency of the physical commodity deals workflows by automating, tracking, and streamline of the processes between contractors.
First, we focused on the polymers trading industry. Why? Because we are from this market, my partner is an owner of a polymers trading company. This market is very huge, in the US it's over $600 billion annual, and there are over 30 000 plastic traders in this market. A typical company makes 50 deals monthly. It means that our solution saves for this market over $1,5 billion monthly by cutting the edges, automating, and boosting the efficiency of the business.
Does it make sense for them? Of course, it makes sense! Because they know how it works in huge companies, they know how these processes look in their companies. They know how owners and managers work with hedging firms, logistics, insurance companies, warehouses, and other contractors by using phone calls, eXcels, and e-mails. What price can we ask for that? It can save over $3 000 in each deal. It can save $150 000 monthly for the company.
We said. It is a SaaS platform that takes subscriptions near $1 000 monthly for basic products. Is it good for you? Traders said yes!
We started to provide this solution for companies, and the main go-to-market strategy is — our solution can work inside one company, but it better works between contractors when contractors use it together. So if you are working with this product, you can show it to your colleagues and we will integrate this product for your colleagues. And you will work together in semi-automatic mode with streamlined processes, efficiency, and deal transparency.
Do you remember from what I started? We started to collect data on how what the processes in real-life look like in trading companies. We didn't go to huge companies because these companies have enough funds to buy all the solutions. But we need more data, we need data from all markets. In the base on this data, we started to build software that provides intellectual automatic bot-managers for physical commodity traders. In several futures for trading, for buying and delivering raw materials for manufacturers or between traders you won't need many physical manager employees. You would use this intellectual technological bot-manager which works 24/7, collect, analyze and works with data and show you all processes.