Describe your product?
Restocq is an all-in-one online ordering solution that provides dental and medical practices access to multiple procurement suppliers on a single site.
Practices can search, compare, and order all their products through the platform, manage spending, track orders, and access real-time procurement data on any device.
What industry challenge are is Restocq tackling?
The company’s mission is to provide a solution to what so many dentists have identified as the biggest pain point of their business management: procurement of consumables.
The medical and dental industries spend millions of dollars each month on consumable items using archaic methods such as emails, phone calls, paper notes, SMS and WhatsApp.
We found that these outdated processes made it extremely difficult for practice owners to manage the procurement process and have accountability when mistakes are inevitably made.
What is unique about Restocq in your market?
Restocq.com is a truly revolutionary product for the dental, medical, and vet industries and is growing at a lightning fast rate, with over 80 dental practices in Australia using the platform as a procurement solution already.
By providing users with the opportunity to seamlessly order from multiple suppliers with one click, Restocq is taking over legacy ordering processes and is estimated to save practices more than 10 company hours a month.
What is the biggest risk to Restocq?
We are going up against and attempting to disrupt the legacy ordering systems, so we are facing the challenge of changing mindsets.
What does success look like for the company?
Having so far raised $2 million in seed capital, we are already gearing up for the next round of funding to execute our ambitious plans for the company.
Restocq plans to further penetrate Australia’s dental market of 15,000 practices before expanding into the medical and veterinary industries, developing the product to offer payments through invoices on the platform, and going global.
Why should a customer use the product?
Restocq is the new way to discover suppliers, manage orders and get real-time spend and insights and a perfect solution for many practice owners.
Before launching Restocq.com, we ran into the same problems every month; running out of stock, having products expire and getting caught in a procedure without something we need. We knew that so many dentists were experiencing the same thing and we were determined to come up with a solution.
By providing a seamless way to manage procurement, Restocq takes a huge weight of responsibility off the shoulders of practice owners, allowing them to focus on patient service and business development.
Restocq helps practice owners save precious company hours and around $30,000 in staff time and procurement costs every year.
How do we find out more?