Aiming to expand its enterprise arm by providing an innovative platform that solves challenges involved in customised product discovery, vendor consolidation, pricing, logistics & supply chain, approval protocol and more, e-commerce platform Industrybuying has unveiled ProcMan.
The product has an Online Catalogue Interface (OCI), which has the ability to integrate with most of the ERP systems available in the market.
Rahul Gupta, Co-founder, Industrybuying said, “We saw that medium-large enterprises are quite efficient in managing their direct spends and would like a solution for managing their indirect or non-bulk expenditures.
Though there are a lot of tech- enabled solutions in the market to help them manage purchases like raw material, fuel, chemicals gases through e-procurement or e-auctions, etc. for other types there is no ready solution.”
“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,” added Gupta.
ProcMan solves these problems, claims Industrybuying. 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.
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 Udit Srivastava and Sanjeev Kumar. While Srivastava had worked with Snapdeal and Amazon in their product division, Kumar was associated with Snapdeal and Ariba.
Srivastava, the senior vice president of 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. “
With ProcMan, the company 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 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.