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Current company 1vendor Platform 1vp
Technology; Information and Internet · 16 employees · Founded 2023
1 Vendor Platform™ (1VP), is B2B ecommerce platform for industrial procurement, with a focus on Indirect and tail spends. Our platform ensures seamless ecommerce experience in industrial procurement, which did not exist before us in India. Our tech enabled platform assures transparent, competitive and most cost effective procurement solutions, which are both fast, compliant and audit worthy with the automation tools we provide. We worked backward from understating the basic reason of no-ecommerce experience in industrial procurement and then worked on it to solve it. We had worked on to solve some of the age-old procurement processes like i) Vendor Registration in ERPs ii) Assuring competing offers to take decisions No visibility of product and selection in real-time from end supplier iv) Opaque carrier charges from end vendors Along with that, we studied the challenges in industrial procurement and found industries struggle a lot to manage Class-C and Class-B purchases which accounts to 20-30% of expense but accounts to 70%-80% of the vendor base. Enterprises struggle for their productivity with the purchase team in managing Class-C and Class-B items and affect both project timelines and cost effectiveness. We at 1VP use AI and Process Automation to innovate on to give seamless procurement experience to enterprise customers.