September - 2014 - Special issue > Company of the Year - Vendors Consultant

Power2SME: Empowering SMEs to Compete on an Equal Footing with Large Enterprises

Susila Govindaraj
Wednesday, October 8, 2014
Susila Govindaraj
There exists a cold war between the SMEs and vendors when it comes to procuring raw materials. Corporates have been enjoying an unfair advantage of discount of 20-45 percent, while SMEs spend hefty amount for the same raw materials mainly due to their weak negotiation power and size of their orders. When R.Narayan's research with the help of IIM-Lucknow students validated the same notion, he decided to empower the SMEs and founded Power2SME in 2012. Power2SME provides a platform to the SMEs where they can place their requirements and the rest, starting from procurement to delivery, all is taken care by Power2SME.

Raw Materials Buying Club

Power2SME is India's first 'Buying Club' for the SMEs that helps them through the entire process of procuring raw materials and ensuring smooth delivery at customer's doorstep. The innovative business model of Power2SME enables SMEs to obtain the most optimal pricing for their procurement needs by cutting out the middle link of distributors and wholesalers. The company pools the demand of multiple SMEs, thus providing access to a larger pool of quality suppliers. Power2SME takes complete ownership of entire order process for customers, from ensuring a quality supplier pool, best possible prices, flexible payment options to door step delivery.

Power2SME's online platform allows customers to track all their purchases and undertake transactional activity such as placing new enquiries, checking price quotes, uploading purchase orders, checking status of delivery, account statement, notification of payment due and others. This platform is available 24x7 without any charges and enables SMEs to build efficiencies in their business processes, thus allowing them to compete on an equal footing with large enterprises. While majority of the current online business websites' focus is on match making and providing discounts on services, Power2SME enjoy an early mover advantage with its unique concept of operating in the direct raw materials space.

Apace with Monumental Growth

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