1Vendor Platform: Simplifying Industrial E-Procurement With Technology & Process Innovation
In the e-procurement market in India, the introduction of GST in 2017 has been crucial, alongside government initiatives like the Government e-Marketplace (GeM), - Make in India, the TReDS platform for invoice financing, and most recently, Bharat Connect for B2B payments. These efforts have accele- rated the shift toward digital procurement platforms for businesses. However, the B2B sector has not evolved at the same pace as B2C. While B2B procurement is highly organized, it remains largely offline. Vendors must adapt to each enterprise’s unique procurement processes, which can overwhelm the entire system. This complexity slows decision-making and complicates procure-to-pay cycles. To address these challenges, 1Vendor Platform has developed a tech solution that simplifies industrial procurement by streamlining registration, quote management and negotiation. It also enables interoperability between registered and unregistered vendors, allowing for faster transactions without extensive onboarding.Seamless Operations
1Vendor Platform, or 1VP, is an easy-to-use e-procurement solution tailored for industries, specifically targeting indirect and tail spend. It effortlessly connects industrial buyers with vendors on a cohesive digital platform, providing a smooth procurement process enhanced by cutting-edge technology and innovative processes. “At 1VP, we position ourselves as a customer-centric company, we work with a vision to provide a seamless e-Commerce experience for industries, enhancing their productivity and cost effectiveness through process innovation and automation”, says Sushant Dutta, Founder & CEO, 1VP. The platform focuses specifically on indirect purchases for industries, aiming to reduce the complexity of these transactions. “We launched the product last year, and through continuous customer feedback we have refined the product to meet the exact needs of industrial buyers and vendors”, adds Ankit, Co-Founder.
The customer backward platform leverages technology in much the same way e-commerce market places have transformed B2C buying experience. B2B specific features have been developed for industrial buyers and vendors, focusing on simplifying vendor registration and negotiation through a dedicated tech platform. The user interface (UI) is designed for vendors and buyers, incorporating the principle of drop-shipping, where a vendor ships directly to the enterprise without the need for formal registration. By offering the combination of drop shipping and innovative business process automation, 1VP aims to address the specific challenges that industrial customers face and mitigate inefficiencies in the process.
Transforming Business Connections
Several instances illustrate the impact of the platform, but a specific case involving a buyer and seller offers a compelling example. An industrial buyer in Bangalore required a particular product, and typically, the vendor would need to complete a time-consuming registration process before negotiations could begin. However, because the vendor in Kolkata was already registered on the 1VP and specialized in lab equipment, they were able to connect easily with the buyer. Previously, the seller had been limited to working primarily with education institutions, and due to registration restrictions, could not access industrial consumers. Through the platform, the seller secured an order from one of the largest FMCG companies, thereby expanding their business significantly and the buyer was able to close a critical product request in just a few weeks.
1VP, launched in December, has quickly gained traction with over 20+ business and enterprise customers and 35+ selling partners across India. While the immediate focus is on establishing a strong presence in the Indian market, there has been organic interest from overseas markets like Tanzania, Mozambique and Nepal. The company is committed to bringing simplicity and innovation to the B2B industrial space, with one patent filed and many more in progress, focusing on process and technology innovation. Its vision is to evolve into a comprehensive e-commerce platform, integrating payment solutions, ERP systems, Bharat Connect, and cross-border functionalities, with several innovations already validated by customers.
1VP Aims To Address Industrial Procurement Challenges & Improve Process Efficiencies
Transforming Business Connections
Several instances illustrate the impact of the platform, but a specific case involving a buyer and seller offers a compelling example. An industrial buyer in Bangalore required a particular product, and typically, the vendor would need to complete a time-consuming registration process before negotiations could begin. However, because the vendor in Kolkata was already registered on the 1VP and specialized in lab equipment, they were able to connect easily with the buyer. Previously, the seller had been limited to working primarily with education institutions, and due to registration restrictions, could not access industrial consumers. Through the platform, the seller secured an order from one of the largest FMCG companies, thereby expanding their business significantly and the buyer was able to close a critical product request in just a few weeks.
1VP, launched in December, has quickly gained traction with over 20+ business and enterprise customers and 35+ selling partners across India. While the immediate focus is on establishing a strong presence in the Indian market, there has been organic interest from overseas markets like Tanzania, Mozambique and Nepal. The company is committed to bringing simplicity and innovation to the B2B industrial space, with one patent filed and many more in progress, focusing on process and technology innovation. Its vision is to evolve into a comprehensive e-commerce platform, integrating payment solutions, ERP systems, Bharat Connect, and cross-border functionalities, with several innovations already validated by customers.