With the world shifting from products to platforms, mjunction services limited, India’s largest B2B eCommerce company, has transitioned from selling its eProcurement application as a licensed software to making it available on Cloud – a platform which is now available to multiple organisations to connect more efficiently with their suppliers.
This new user-friendly platform is capable of supporting simple to complex procurement, covering the entire procurement life cycle.
“What sets our platform apart is its ability to support diverse requirements, unlike a traditional procurement software,” informed mjunction CEO Mr Vinaya Varma. He said that just like one size does not fit all, one standard procurement process cannot serve diverse organisations. Traditionally, organisations were forced to change their practice while adopting a new platform or incur high cost towards customisation of software. However, mjunction’s eProcurement platform allows organisations to design their own workflow and rules, and to configure the system as per their need.
Not only that, it gives organisations the option to “pay as they use” – which means that once they pay a sign-up fee, they need to pay only for the number of transactions they have done through the platform, and not otherwise. This helps organisations to make upfront capital investment, Mr Varma informed.
Mr Sukanta Sarkar, Director IT of the Ordnance Factory Board (OFB) under the Ministry of Defence, said that, “I am very satisfied with mjunction’s services in developing, deploying and maintaining our eProcurement system.” mjunction has been serving OFB since 2010.
Mr Ranajit Banerjee, Advisor, OALP, Director General of Hydrocarbons, said, “DGH had commissioned mjunction to develop a bespoke bidding platform for their ongoing licensing and bidding programme for acreages under various policy frameworks. The bidding portal developed by them was found to be secure with robust encryption. The first round of bidding under the Open Acreage Licensing Programme and the electronic bid opening has been successfully completed using this eBidding platform”.
The world today is highly connected and networked. Realising that, mjunction’s system is connected to the ERP systems of organisations for seamless data exchange. The ePlatform enables organisations to share supplier performance ratings with other organisations, which is not possible in an isolated standalone eProcurement implementation.
Mr Varma said Analytics plays a key role in facilitating strategic decision making, and the platform has powerful Analytical tools to provide insights to organisations on their spend, to help them procure better. About 50,000 tenders are processed on the platform every year, and the value of transactions total up to around Rs 1,00,000 crore annually, he informed.
Finally, adoption of the platform by suppliers and users is the key to success and mjunction provides round-the-clock Helpdesk support to organisations as well as suppliers to support them in carrying out their transactions. Traditional eProcurement softwares have faltered on the adoption front, and mjunction is providing the necessary handholding to make it an easy and seamless process.