Projects

Problem

Solution

Rising Procurement Costs:

Manual negotiations and limited price visibility often lead to overspending.

Cost Savings with Snap Bidding:

Reverse bidding and target pricing ensure competitive rates, lowering procurement costs by about 5%.

Delays in Project Timelines:

Slow RFQ processes, follow-ups, and vendor delays push back procurement schedules, causing project overruns.

Faster Project Execution:

Automation of RFQs, follow-ups, technical checks, and comparisons streamlines processes and minimizes delays.

Evaluating Vendor Performance:

Lack of insight into vendor performance can lead to lower quality work and potential delays.

Improved Vendor Quality:

Vendor performance data helps select reliable vendors, boosting project quality and reducing rework.

Challenges with ERP Integration:

Difficulty transferring procurement data to ERP systems leads to inefficiencies.

Smooth ERP Integration:

Easy integration with IOCL’s ERP system ensures seamless workflows and faster PO generation.