Mumbai, Jan 27: Global Tele-Systems is investing Rs 20-25 crore to promote the Web-based business to business procurement portal for the corporate sector, Global E-Procure. Global, which acquired service provider license for the portal in India from GE Information Services (GEIS), is expecting a turnover of around $25 million in the next two years from the venture.
The portal platform belongs GEIS and is licensed in each country by various companies. These companies share a global database, leading to more access to information and reduced costs. The portal has been designed to end the traditional manual means of procurement through Net-based electronic purchasing service.
According to Global Tele vice-chairman and managing director, Manoj Tirodkar, the company is investing Rs 20 crore in software and hardware part of the project. "Further investment will be made as per the expansion of the project," he said.
Global has around 7,000 corporate customers in India for its various services including payment gateway and is expecting roughly $25 million in the first two years of "Our revenue scope increases as the companies will be using our own payment gateway for transactions. There will be a electronic data interchange using our facilities," Tirodkar said.Global has planned a soft-launch immediately while the major launch will be in March. It has acquired service provider license for a period of six years for TPN Post, a secure B2B Internet based electronic purchase service. Global will market this service under the E-Procure project while GE Info will provide technical support to the venture.
Global intends to use the service for GE Capital and major public sector banks, who will be using the payment gateway to a great extent.
Global E-Procure is designed to prepare bids in hours and can eliminate all paper and postage costs. It is estimated that such on-line procurement systems can save over 10-20 per cent on material costs and can cut sourcing cycle time by 60 per cent.
Faster distribution of information and specification to the suppliers can add to companies' bottomlines."The companies can even take advantage of change in prices as they can come out with multiple tenders in short time," says Global joint managing director Fritz D'Silva. They will get immediate feedback regarding the offers and can even re-negotiate the tenders on-line.
Other than the payment gateway, Tirdokar said that the capability to integrate E-Procure with the ERP systems and legacy systems in the company would be an advantage.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.