indiamarkets.com in consolidation mode

indiamarkets.com, the e-procurement marketplace, which recently right-sized its content division, is consolidating operations by expanding its physical and manual infrastructure. The company expects to facilitate transactions worth Rs. 600 crore through its platform by the end of its fiscal. The company is planning to double its network of e-business centers from the present 30 to 60 by the end of the current fiscal, said Mr. Rohan Ajila, Managing Director, IMO Communications.

Indiamarkets is promoted by IMO Communications Pvt. Ltd. “It is a right time to consolidate. We see a great traction as we march ahead and our future focus will be transaction-oriented. The expansion of e-business centers will further strengthen our marketing capabilities and also facilitate vendor validation, development and training and help us to penetrate into the interiors,” he added.

According to Mr. Ajila, the company’s e-procurement services have registered a growth of over 100 per cent in transactions over the last few months and is continuing to grow. “We expect this growth to continue in the coming days and almost all the e-business centers have achieved a break-even. With the prevailing slowdown, corporates are increasingly looking at e-procurement as it involves a saving of anywhere between 10-36 per cent on their procurement costs. We expect the total transactional turnover through our platform to cross Rs. 600 crore by the end of the year,” he added.

indiamarkets has about 2,000 registered buyers, which includes some 40 companies with a turnover of more than Rs. 100 crore each, and some 70,000 suppliers. It provides a range of end-to-end business-to-business (B2B) solutions, including purchase and distribution automation tools such as eBuy and eSell. The company, which has the backing of Warburg Pincus and Intel as strategic investors, does not see any need to raise additional funds in the near future. “The available funds would be utilized for the company’s expansion drive,” he said.