Here is the story our founder and CEO gave during Florida’s innovation summit, Synapse last week. Fractio was honored to receive the innovation award in the startup category during this year’s awards segment.
Hi guys, I’m Fatin Kwasny, founder and CEO of Fractio.
Let me tell you a story. On March 20th, 2022, I woke up from a very vivid dream while soul searching what to do next after a devastating layoff.
And you guys, I’ve spent so many years working at startups and SMBs. EVERYONE KNOWS, it’s hard for them to afford full-time employees. I mean, they’re LITERALLY throwing people into a business that changes daily.
The layoff wasn’t unique – I mean, it was unit and labor economics. Although, I did spend years driving millions in revenue, while raising a family at home. But, that’s reality for A LOT of people.
There were colleagues hiring freelancers in silos, others going home early… And, after years, furloughs lead to layoffs for so many others. Because the truth was – the company was CONSTANTLY operating in FEAR of failure, and reacting to it.
It did not have visibility into the real-time cost of WHO OR WHAT driving it’s business outcomes.
Before waking up from the dream, the last thing I remember was writing the word Fractio down. And at that point, I was determined to put an end to this avoidable waste that was happening.
So, I spent the next two years studying the workforce management market to get to the root cause. What I found was, there are SO MANY tools to manage the work that people do. And there are thousands of AI tools to increase the amount of work getting done.
But, most companies only get about 50% value for every $1 spent on people and AI tools. Because, the human brain has limits on deep work, so 1/2 of salaries are wasted. People also don’t use AI tools well either, so companies waste 1/3 of their investment in them today.
If your company outsources to agencies, marketplaces, or consultants, well, your work markup just went up 100% by shifting your budget risk, overhead, and adding gross margin – and sometimes you don’t even know whose doing the work.
You guys, companies are wasting 1/2 of their cash on the work variables that add ZERO VALUE.
I found that today’s tools are completely blind to this waste that doesn’t drive business outcomes. So, we built a usage-based work management platform to give companies control of their cash wasted on this black box.
Our customers can see real-time costs of business outcomes by building an in-house fractional team, and pay as they go for real-time fractional workloads they can scale up or down, without losing mission or time to market.
They can track 1:1 value for every dollar spent on people or AI tools. And while we have fractional service providers on the platform, that is NOT the problem.
SMBs and startups are hiring fractional workers more than ever. But, now they can deploy any contractor and providers can show their costs and work as milestones, and be transparent and accountable.
Fractio is 100% convinced that the future is fractional, with real-time AI-led workloads that people oversee, and our customers are validating our vision because they have a lot of work to do.
