Thu, Dec 8, 2016 | updated 01:49 AM IST

Industrybuying unveils ProcMan to centralize product procurement

Updated: Jul 20, 2016 11:05 IST

New Delhi, July 20 (ANI): India's leading B2B e-commerce platform Industrybuying unveiled ProcMan, a customized product solution for enterprises that eliminates the inefficiencies and centralizes 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 and supply chain, approval protocol, resource allocation and purchase through purchase orders.

"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 and gases through e-procurement or e-auctions, integrated systems with OEMs, etc," said Co-founder Industrybuying, Rahul Gupta.

Procman solves these problems and provides complete transparency in their procurement process. It delivers direct savings of up to 20 percent 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 crore and at least 40-45 percent of sales contribution by March 2017.

The product was built under the guidance of Udit Srivastava and Sanjeev Kumar who have enormous e-commerce experience. Srivastava had worked with Snapdeal and Amazon in their product division and Kumar was previously associated with Snapdeal and Ariba.

"Our product and engineering team have been working endlessly for the past six 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," said Sr. Vice President Product Engineering, Udit Srivastava.

By integrating this platform, the enterprise will get an instant access to over 5000 vendors, and best negotiable prices for the ordering and re-ordering process. It will also help them to generate custom reports to analyze 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 and businesses to procure industrial utility products online as it provides technology and services that enable selection, payments, customer support and fulfillment - all as a wholly integrated experience. (ANI)