Hyderabad: Acads360 India Pvt Ltd, a city-based started promoted by a group of alumni from IITs, IIMs and BITS, on Tuesday launched PRM360, an e-procurement tool that the promoters claim will help companies save up to 15 per cent on their purchases.
Ravi Kumar & Nitesh Reddy
Additionally, the tool which took more than a year to design and develop will also reduce man hours that companies spend on procurement by almost 70 per cent. “The PRM360 is designed to effectively select vendors, effortlessly post requirements, efficiently evaluate vendor's technical and commercial offerings.
Pointing out that manual procurement was a tedious process requiring tens of man hours to complete a single purchase, co-founder Ravi Kumar said PRM360 would automate entire procurement process with a useful feature of online bidding thrown in. “It’s faster, reliable and cost-effective,” he said.
The startup, established in 2015, currently serves 127 clients in Hyderabad, including Orange Travels, a bus travel agency. Sunil Kumar Reddy, Managing Director, Orange Travels, explained how the new e-tool helped his company save costs on its purchases like pillows, bed sheets and other materials.
While trying to increase its client base in the city, Acads360 India also plans to expand to other cities as well. “We will launch our tool in Bengaluru in November this year followed by Chennai in December and Pune a month later. We are anticipating good response from all three cities,” said Nitesh Reddy.