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cloudBuy, a London-based company which provides technology platform for B2B companies, is looking to enter the Indian market.
The company has tied up with Synise Technologies, a procurement service provider that is part of the $2.5 billion Kalyani Group, to secure inventory from industries like FMCG, auto and auto ancillaries, textiles and capital goods. The tie-up will also to provide solutions that offer sourcing to payment, making the final offering more efficient due to use of technology.
The joint venture would add many features and offerings such as spend analysis, contract management and payment facilities. As a result, the existing clients of Synise would procure material through the market place, saving procurement costs.
The focus is also on the Gulf States, India’s largest trading partners. The joint venture hopes to provide these suppliers with B2B e-commerce to facilitate their global exports and at the same time making their Indian business more efficient.
cloudBuy, which has over $500 billion in B2B spend on their analysis platform recently extended their partnership with Visa Asia Pacific for 5 years.
