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 & supply chain, approval protocol, resource allocation and purchase through purchase orders.
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 fulfill 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.
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.
Commenting on the newly developed product 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.
About ProcMan
ProcMan is a customized cloud based platform that allows enterprises to centralise online procurement process efficiently through desktop or mobile. It brings comprehensive digital catalogue/products together at one place, helps create a custom e-catalogue after analyzing the current spends and allows best negotiable rates to be fixed for a period of time that allow greater efficiency in the buying process and facilitates in achieving significant cost savings.
Some of the powerful features such as vendor consolidation, customized product discovery, order management, custom reports to analyse the entire spend, document repository for all rate contracts, bills, invoices, delivery receipts, payment advice’s and payment receipts to streamline the entire workflows and allow enterprises to plan and control over the entire spending for their industrial procurement. For more information, please visit ProcMan
About Industrybuying
Industrybuying is a leading Business e-commerce platform, selling a wide range of business and industrial products to SMEs as well as large businesses. It has over 4,000 registered sellers and more than 60,000 registered businesses – SMEs & large corporates that are procuring online from Industrybuying. Industrybuying offers over 1 million products across 45+ categories ranging from Safety and Security, Electrical and Lighting, Power and Solar, to MRO supplies and many more categories.
Industrybuying is backed by some of the leading Indian and global investors. Based out of Delhi NCR, the company has a Pan-India footprint with fulfillment centres in Mumbai, Pune, Ahmedabad & Bangalore. For more information, please visit IndustryBuying.com