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
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
With a base of 45 million, SMEs cover virtually every aspect of India's economy and are much dependent on raw material to keep their business running; hence, the demand for raw materials is strong. Power2SME started with supplying steel and polymer as they are the biggest requirements of SMEs. Today, the company also takes on the role of sourcing input raw materials at the most competitive price points across multiple products in categories like chemicals & additives, inks, paints and metals.
The Power2SME business model gained vast acceptance in a short span of time. The primary reason for the same was that it was addressing an existing problem. SME owners were extremely responsive to the value proposition offered by Power2SME, as they understood the multi-fold benefits it could offer, as against the traditional supply chain model.
The extremely passionate team of Power2SME is always on their toes to motivate and empower SMEs to achieve their goals. The 150+ professionals of the company leverage their domain expertise in sales, supply chain, marketing, finance, HR and IT to achieve 'Customer Delight' with every action. Power2SME follows open corporate culture where they encourage interaction amongst employees from all the departments. This open work culture provides them the strength to experiment and innovate continuously. The HR department not only organizes training sessions for employees' skills improvement, but also celebrates various festivals at office and organizes number of events for employee engagement.
To ensure that the company caters to the diverse requirements of its captive customer base,Power2SME is exploring alliances
Apace with Monumental Growth
With a base of 45 million, SMEs cover virtually every aspect of India's economy and are much dependent on raw material to keep their business running; hence, the demand for raw materials is strong. Power2SME started with supplying steel and polymer as they are the biggest requirements of SMEs. Today, the company also takes on the role of sourcing input raw materials at the most competitive price points across multiple products in categories like chemicals & additives, inks, paints and metals.
The Power2SME business model gained vast acceptance in a short span of time. The primary reason for the same was that it was addressing an existing problem. SME owners were extremely responsive to the value proposition offered by Power2SME, as they understood the multi-fold benefits it could offer, as against the traditional supply chain model.
The extremely passionate team of Power2SME is always on their toes to motivate and empower SMEs to achieve their goals. The 150+ professionals of the company leverage their domain expertise in sales, supply chain, marketing, finance, HR and IT to achieve 'Customer Delight' with every action. Power2SME follows open corporate culture where they encourage interaction amongst employees from all the departments. This open work culture provides them the strength to experiment and innovate continuously. The HR department not only organizes training sessions for employees' skills improvement, but also celebrates various festivals at office and organizes number of events for employee engagement.
To ensure that the company caters to the diverse requirements of its captive customer base,Power2SME is exploring alliances
R Narayan
Founder & CEO
Panel
Management
R Narayan, Founder & CEO
A Chartered accountant by training, marketing professional by choice and an entrepreneur by spirit, Narayan set the overall direction for Power2SME. With over 2 decade of experience in general management, he has a deep understanding of SMEs and their needs, as he has worked closely with over 2 lakh SMEs.
Offices:Gurgaon (Headquarter), Kolkata, Pune, Mumbai, Ahmedabad, Chennai
Achievements:
1. India's Coolest Start-ups - 2014 by Business Today
2. Serial Entrepreneur of the Year - 2013 by Franchise India
3. Red Herring's Top 100 Global - 2013
4. Red Herring's Top 100 Asia -2013
5. Power2SME was shortlisted as 'Rising Star' by Global Platts Awards
