Trusted vendor list is a tough battle for SMEs and if you run the procurement department, your worries range from credibility of vendors to finding out the right pricing.
Hyderabad based AnyRequirement is a B2B marketplace that connects corporate buyers to verified quality vendors in your city. The company offers expertise in categories relevant to the corporate environment and brings in qualified vendors within the quality and value spectrum. AnyRequirement manages the linkage between buyer and vendor to streamline buying and simplifies the vendor selection method for corporate buyers.
The way AnyRequirement works is very simple – companies can log a RFQ and AnyRequirement would fetch these quotations from the vendors. All quotations are consolidated in one page and provided in a self explained format, containing vendors details, price and the product or service description.
As far as products are concerned, AnyRequirement has two specific verticals -
1. Procurement Service : Any Business entity could send a quotation request for their products or services requirement and AnyRequirement would fetch these quotations from most Vendors in town.
2. Vendor Service : AnyRequirement would forward quotation requests for products or services from Buyers, and Vendors could reply with pricing and product/service details. The scope of this Service is to generate sales leads and also to add new revenue streams to Seller’s existing business.
In short, a pure-play marketplace model where AnyRequirement sits in the middle and connects players. But why focus on local vendors and not as a (global) procurement SRM platform ?
AnyRequirement team explains:
“We are a platform/marketplace that connects corporate/front offices to the best of qualified and trusted vendors with quotations in your city. We support all the products and services that the companies use on daily basis, we target local vendors because of the volume purchases by some corporate offices are lot lesser than the minimum shipping requirements of global vendors. Most of these companies would prefer regular local stationers or any other product/service supplier for all their requirements on the go, its more about cost per unit + shipping charges. For relatively small requirements its viable to go with local vendors.
We have separate plan for global vendors, where in we would club similar requirements together bundle them and submit as a single purchase to global vendors, where the cost of per unit price + shipping would vary a lot.”
In terms of traction, the startup has 300+ corporate buyers and has closed more than 500+ successful transactions. As far as monetization is concerned, the company charges buyers for providing curated vendor quotations, and in future plans to charge vendors as well.