India’s Tradologie is looking to make the country a “self-reliant and self-sustaining powerhouse” through a B2B platform that facilitates uninterrupted trade for both local and foreign parties.
According to a press release, the company is revamping the usual B2B processes by cutting the costs of commodities for the buyer in real time, so “more gets done in less time while using fewer resources,” which has the effect of making the price visible while the deal is still on.
“We have eliminated the hassle of making phone calls or sending out emails at the start of a business deal,” CEO JK Arora said, according to the release. “In a limited span of three years, we have been able to generate business of 18 billion by enabling trade between 200,000 buyers and 20,000 sellers with zero-ground staff across 65 countries serviced by manufacturers based out of 14 countries.”
In addition to business deals, Tradologie said in the release that it can provide a cheaper alternative for buyers and sellers as opposed to the traditional channels that have always been in place.
Tradologie, according to the release, will be the first enquiry-to-delivery trade platform acting as a direct interface between buyers and sellers.
In related news, PayMate Founder and CEO Ajay Adiseshann, speaking with PYMNTS, said the B2B system in India faces friction from the large number of smaller businesses in the country. As they’re all disparate, individual entities, the difficulty becomes reaching them as a group for onboarding because reaching all of them is tough to do.
That, according to Adiseshann, is why PayMate began using the enterprises, finding that the best way to reach the small- to medium-sized business (SMB) market.
Working with the enterprise, he said, can help with the addition of layers to soothe friction in the B2B onboarding process. He said it is crucial to add some other value for the business like vendor management, customer payments or invoicing.