~Industrybuying targets around 40-45% of sales contribution from ProcMan ~Industrybuying targets annual GMV of Rs. 180-200 crores from enterprise sales by March 2017 ~The product promises to offer direct savings of up to 20% to the enterprise customers
India’s leading B2B e-commerce platform Industrybuying unveils ProcMan, a customised product solution for enterprises that eliminates the inefficiencies and centralises their industrial product procurement process. The product includes an Online Catalogue Interface (OCI) that has the ability to integrate with most of the ERP systems available in the market.
The latest development comes in order to expand its enterprise arm by providing an innovative platform that solves the major challenges involved in customized product discovery, vendor consolidation, pricing, logistics & supply chain, approval protocol, resource allocation and purchase through purchase orders.
Mr. Rahul Gupta, Co-founder, Industrybuying said, “While interacting with companies, we saw that medium-large enterprises are usually quite efficient in managing their direct spends, however they would like a solution for managing their indirect or non-bulk expenditures. There are a lot of tech-enabled solutions available in the market to help enterprises manage their purchases like raw material, fuel, chemicals & gases through e-procurement or e-auctions, integrated systems with OEMs, etc. However, for other types of supplies there is no ready solution because they fulfil such requirements from a highly fragmented and relatively unorganized supply chain consisting of several product/brand specific wholesalers, agents, traders, re-sellers, distributors, stockists, buying houses, dealers, etc. It is marred with low price visibility and unpredictable availability as a result businesses end up managing thousands of vendor codes each not amounting to any significant business volume individually.”
Procman solves these problems and provides complete transparency in their procurement process. It delivers direct savings of up to 20% due to better pricing in addition to indirect savings in the form of planned procurement, less manpower, less paperwork and also avail tax benefits on these purchases as applicable, he added.
Industrybuying is all set to drive its enterprise sales through ProcMan, targeting annual GMV of Rs. 180-200 crores and at least 40-45% of sales contribution by March 2017.
The product was built under the guidance of Mr. Udit Srivastava and Mr. Sanjeev Kumar who have enormous e-commerce experience. Mr. Srivastava had worked with Snapdeal and Amazon in their product division and Mr. Kumar was previously associated with Snapdeal and Ariba.
Commenting on the newly developed product Mr. Udit Srivastava, Sr. Vice President, Product Engineering said, “Our product & engineering team have been working endlessly for the past 6 months. The product provides the flexibility of using it through a custom portal which works well for relatively small businesses and it can integrate with ERPs of the large enterprises, too. We are optimistic that this cloud based solution will eliminate all the inefficiencies and become a one-stop solution for enterprise customers.”
By integrating this platform, the enterprise will get an instant access to over 5000 vendors, and best negotiable prices for the ordering & re-ordering process. It will also help them to generate custom reports to analyse spend, ordering history, shipment history and payment history. Some of the enterprises have already integrated this product and have started availing benefits during their product procurement.
At present, Industrybuying has more than 150 enterprise customers on its e-commerce platform and around 5000 vendors spread across the length and breadth of the country. The platform is an appropriate solution for enterprises & businesses to procure industrial utility products online as it provides technology & services that enable selection, payments, customer support & fulfilment – all as a wholly integrated experience.