Splash NY Dec 2012 Finalist - CreativeWorx

Kristin Karaoglu · January 16, 2013 · Short URL: https://vator.tv/n/2ced

Check out CreativeWorx's presentation at Splash NY Dec 2012

Splash NY Dec 2012 finalist CreativeWorx wants to solve the timesheet problem to increase revenue and accelerate invoicing. By making the capture of hard-to-obtain employee workflow data effortless, the CreativeWorx platform automatically generates business intelligence that helps organizations & individuals capture more revenue, reduce costs, streamline processes, and have better visibility of operations. Here's a video of Mark Hirsch presenting at Vator Splash NY.

Even though success is not defined by how much money a company has raised, past Vator winners, such as Thumbtack, Getable, Grovo, Astrid, Udemy, and Geeklist have gone on to raise millions of dollars collectively from venerable VCs, soon after presenting.

Want to apply to get on stage at the next Splash competition? It's being held in SF on Feb.13. Join the Splash competition here.

Here's some other testimonials:

"Having the opportunity to demonstrate Apartment List at Vator Splash and talk about our vision to an audience of top-tier VC investors and entrepreneurs was an exciting honor. Bambi and team put on an great night of Silicon Valley networking. We made meaningful connections At Splash as well as on Vator that are proving fruitful for our business, and winning the start up competition was icing on the cake. Thanks Bambi and team for creating a great investor and entrepreneur community and packing the house with a fantastic audience." John Kobs , CEO and co-founder of Apartment List .

"The process of inviting everyone one we knew to vote for us, even before the event, was a fantastic way to build support for our company. Then presenting at Vator Splash was a blast. The short presentation style ensured the audience was engaged and the follow-up questions from the judges were on-point and constructive. At Vator Splash, I made great connections with a number of investors and had a number of follow-up meetings. We were able to raise our last round entirely from investors who discovered us from the publicity we generated from Vator Splash," said Jon Paris, CEO and founder of Astrid.

"Working with Vator, and Bambi, is a pleasure. She's really passionate about uniting great ideas with the right people. We actually tied for first in last years Vator Splash SF and as a direct result raised $150,000 from an investor who saw us pitch. TEEC Angels approached us right at the event and invested soon thereafter. Reuben Katz, CEO and founder of Geeklist.

"Vator has acted as a launchpad for my startup in terms of awareness and exposure. As a winner of a Vator competition, my startup enjoyed early traction and buzz. Vator has kept my business relevant in the minds of investors, entrepreneurs and potential employees. I've made many invaluable connections to the investor and entrepreneur community." Tim Hyer, founder and CEO, Getable.

"DogVacay.com won Vator Splash LA in June 2012. The competition allowed us an opportunity to meet and pitch against some of the great Los Angeles startups and further foster our entrepreneurial community. There was such a positive energy with so many great minds providing insightful feedback throughout the night. Two paws up, Vator!" Aaron Hirschhorn, founder & Top Dog, Dog Vacay

"Events like Vator Splash are critical for startups to generate awareness. We were a top 10 finalist for Splash LA. It provided us with an amazing opportunity to network and gain exposure to a whole community of investors and VCs. Soon after, we raised $3M as a result of the momentum/exposure from the event and the platform in general," Peter Vogel, founder and CEO, Plink.

Join the Splash competition here.

Kristin Karaoglu

Woman of many skills: Database System Engineer; SplashX event producer; Author of Startup Teams

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Openhour

Startup/Business

Joined Vator on October 23, 2012

Openhour

One of the key problems with most enterprise systems is they rely on manual entry of data from workers. CreativeWorx has solved this problem for certain organizations and continues to expand the market potential with additional solutions.

By making the capture of hard-to-obtain employee workflow data effortless, the CreativeWorx platform automatically generates business intelligence that helps organizations & individuals capture more revenue, reduce costs, streamline processes, and have better visibility of operations.

The first product on the CreativeWorx platform solves the global timesheet problem to increase revenue and accelerate invoicing.

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Key Problems Solved for Customers: One of the most challenging problems for an organization is its inability to efficiently collect accurate data related to how worker’s spend their time. The ramifications are significant as poor data collection routinely leads to missed revenues, unnecessary operational costs and delayed invoicing. The CreativeWorx platform eliminates these challenges by automatically collecting this information, performing real-time analysis and then notifying the right people at the right time.

Products & Services: The first CreativeWorx product is the patent-pending TimeTracker, which silently captures real-time data from an employee’s open applications, email, browser, phone calls, mobile phone activity, GPS location data and more to generate accurate timesheets. TimeTracker provides unprecedented efficiencies that capture billable activities which are typically lost, reduces the costs associated with timesheets, and accelerates invoicing and revenue collection.

Target Markets: TimeTracker delivers measurable value to organizations that generate revenue via billable hours. This includes attorneys, accountants, consultants, software developers, advertising agency & creative professionals, and contractors. Though TimeTracker is market-agnostic, CreativeWorx is targeting the advertising industry initially to leverage the founders’ deep industry expertise and TimeTracker’s distinct competitive advantage.

Total Addressable Market: In 2011, $18 Billion was spent on tools that directly improve the creative production process. The CreativeWorx platform and tools will compete favorably in this space. The business intelligence market is relatively untapped and addresses the $45 Billion of production services.

Customers: We have two paying customers: the global ad agency JWT and another mid-sized ad agency, to be publicly announced shortly. TimeTracker was released as beta product in September, 2012.

Competition: The CreativeWorx platform provides workflow solutions with a focus on business intelligence and extremely appealing user experience. Competition is fractured in the creative space with very little focus on business intelligence, and in most cases the time tracking software is a manual operation. Many enterprise platforms (SAP, Microsoft, Salesforce.com) offer a time tracking component, though we will provide an alternative solution by integrating TimeTracker.

Strategy/Barriers to Entry: Our expertise with the Adobe Creative Suite platform provides competitive advantages related to our real-time data gathering in the creative industries. We anticipate first-mover advantage for implementing real-time business intelligence for creative professionals improve operations and directly improve bottom line results. Additionally, CreativeWorx has filed two patent applications and will continue to file where appropriate to protect our unique IP.

Business Model: CreativeWorx derives the majority of its revenue from subscription services. However, there are additional revenue streams including application licensing, commissions from third party services, support agreements and subscription to data analyses.

Mark Hirsch

Joined Vator on September 3, 2012

Mark Hirsch is a serial entrepreneur with successful ventures in software development, media, retail, and feature films. Mark left his job at Adobe to start Openhour. He's a graduate of Wharton.