SourceRFX Industrial Sourcing

Connecting demand and supply is a constant problem be it B2B or other! This is more true for Indian Manufacturing industry. While the B2C segment in the country has been rapidly growing last few years, utilizing the latest web and mobile technologies, the B2B segment is lagging behind. Many small & medium industries do not have a website or may have a website that got outdated longtime back, with no provision to keep it up to date without external help. Excel, Word and Email are the only applications used by many such to run their business.

While everyone adopted online social networking channels for personal and professional purposes, not many options exist for businesses to connect, collaborate and grow their network plus business. Quotation and proposal process is mostly manual using emails and phone calls even in larger corporations with limited transparency. Whatever internal systems they may have, mostly wouldnt allow their suppliers to interact and submit quotes/proposals covering the entire RFX process. Leaving this gap to be handled manually in the critical purchase decision making from the proposal creation to comparative statements and awarding, after which the process likely shifts to ERP.

It needs an Open Business Network platform along with a set of affordable cloud based tools both on the buy and sell side, made with Indian Manufacturing in mind. Supplier directories and digital marketing can only help to some extent. Comprehensive software platforms that connect businesses and facilitate match making without compromising any confidential information.

With increased emphasis on digitization and online transactions in India, there is a huge scope for businesses to make deals of various sizes through online platforms integrated with electronic signatures and document workflows. There are not many popular online marketplaces exclusively for the manufacturing industry, currently leading them to post on generic classified websites.

This lead to the concept of SourceRFX, an online platform to facilitate creation of Open Business Networks to enable Small & Medium Enterprises (SME) to better connect, collaborate and communicate with bigger corporations and global supply chain enabling mutual growth. Team includes highly qualified and passionate individuals with well rounded experience and knowledge from Indian Manufacturing Industry, Engineering Services and Information Technology.