Procurement stays as a prominent area when it comes to corporates buying for its service as well as employee needs. What needs to be procured for big corporates when compared to households and small vendors or businesses? The quantity, time as well as the logistics play a major role. India is the market for many industries/sectors whereas companies based out of western countries tend to expand in India. Understanding Indian Business eco-system is very well needed to understand corporate procurement.
The move from traditional to e-procurement in the B2B sector is seamless and gradual in India and not drastic like any other technological evolution or not even like a B2C e-commerce. But it has visibly taken its position in respective sectors.
Providing a robust e-commerce experience will encourage 83% of procurement officers to spend more when purchasing the supplies they need says a recent study. The move to a more e-commerce centric purchasing behaviour is going to lead away from the traditional in-person relationships are previously seen in B2B.
The change is being driven by new behaviour procurement executives in great number who are the future buyers and influencers. As the young executives take on more procurement roles, the way organizations deliver that personalized experience needs to adapt to the digitally native nature of this new generation of customers if they want to maintain this market share.”
Small businesses dealing with these new procurement officers have to deploy the technologies the new generation of employees will be using. Cloud-based e-commerce is one way of connecting with the procurement professionals and other digitally savvy purchasers.
Through an online marketplace, businesses and corporates can negotiate bulk purchase deals, at the same time providing a trustworthy platform for buyers and sellers to come together. Buyers are also able to check for the best prices for particular goods or services and alternative products that may be cheaper or of better quality.
Other opportunities for cost saving come from improved purchasing data, the simplification of sales and support processes, a more reliable and efficient supply chain, and increased customer as well as supplier satisfaction.
Kobster as a pioneer to establish an e-procurement tool in India has features for corporates to negotiate, add on their interesting items to the catalogue, complete online transactions and more. Similarly, Kobster assures transparency and reliability on the brand which has been proven over the years. Kobster as a forerunner in the industry understands very well on the ecosystem and believe the gradual shift now will take a faster pace in the near future. This is also the high time for small and middle scale vendors as well as corporates to take e route.