bigbasket signs three-year e-procurement deal with SourceEzy

ANI | Updated: Nov 21, 2017 15:39 IST

New Delhi [India], Nov 21 (ANI): bigbasket, an online supermarket, signed a three-year e-procurement deal with SourceEzy Technologies Pvt. Ltd, an e-procurement software and consulting firm here to source over 100 crore in the next three years.

The contract will comprise the entire e-procurement requirement of the company including capital expenditure, operational expenditure, and services.

"We use SourceEzy's software to capture internal requisitions, send out requests for product information and quotations, conduct e-auctions and send out online purchase orders to our vendors. The software is very user friendly and the consulting services received are exemplary," said Cdr (Retd) V.S. Ramesh, co-founder and chief projects officer, bigbasket.

SourceEzy was founded in 2012 and received Angel Funding by Alwyn Santhumayor, a serial Angel Investor in 2015. Deepak Ramesh, Founder and Managing Director, SourceEzy said, "The contract can generate an upward saving of 10 percent on their procurement exercise in the next 12 months. Our joint efforts have already brought in savings of over 10 percent in the first quarter of services."

In five years, with the support of its customers, bigbasket surpassed the 60,000 daily orders mark to become India's largest online supermarket and sixth largest grocery retailer of India across online and offline formats. The company recently crossed the 6 million customers mark.

They recently strengthened its B2B business by expanding to the HoReCa (Hotels, Restaurants, and Caterers) segment and partnering with SnapBizz, a retail-technology firm, in an effort to transform India's kirana stores into technology-enabled modern retail stores.

bigbasket closed the previous fiscal year with Rs 1,410 crore in revenue and broke even in two key markets - Bengaluru and Hyderabad - in its slotted delivery business. (ANI)