Intellect Design Arena has introduced iGPX (Government Procurement eXchange), an API-based public procurement platform targeting $40 million in revenue through its new iDTC business line by 2027. This platform leverages Intellect’s eMACH.ai and Purple Fabric AI to enhance public procurement efficiency, transparency, inclusivity, compliance, and sustainability.
Governments spend an estimated $13 trillion annually on public contracts, with up to 25% wasted due to inefficient procurement practices. iGPX aims to address this by embedding AI agents to streamline processes, reduce procurement cycle times by up to 95%, and promote fair bidding practices.
iGPX builds on Intellect’s experience with India’s GeM, which saw significant growth under their management from 2017 to 2023. The new platform includes pre-built assets like 111 APIs and 17 microservices, offering clients quick and customized solutions.
Debanjan Kumar, CEO of iDTC, highlighted iGPX’s potential to transform public sector procurement by integrating all ecosystem actors, fostering economic resilience, and promoting sustainable practices globally. Kumar emphasized the role of AI in achieving cost-effective and inclusive procurement.
iGPX represents Intellect’s commitment to driving innovation in public administration. It aims to deliver significant savings and support strategic agility and financial stewardship for governments worldwide.
