Working as a search engine for buyers, Venderglobe.com was launched three months ago to make purchasing decision easy for hospitality purchase managers. Nanda Kumar, CEO, Vendor Globe Procurement Services talks about the efforts to bring transparency and efficiency in hospitality procurement and the initiative to bring buyers and sellers closer. By Sudipta Dev
Why the need for a platform like Vendor Globe in Indian hospitality industry?
A platform like Vender Globe is a necessity in the Indian hospitality industry. Vendor Globe has emerged as a useful platform for doing business for both, the vendors and users of their services and products. We help both the stake holders reach out to each other with a plethora of issues like manpower, proper tools, time, skills and knowledge to expedite growth and create new business opportunities. With our experience of over two decades, we are well placed to update hospitality professionals with ready information on latest market trends, details on operational items, OSNE, FFNE, projects, etc.
How is it a win-win for both hotels and vendors?
We, at Vendor Globe, seek to develop a synergy between vendors and hospitality professionals. Our core commitment is to bridge the gap between the two key players in the fast growing hospitality sector. The increasing indispensability of vendors to a spectrum of business eco – systems, including hospitality segment has become the order of the day. In a symbiotic relationship, as the hospitality buying professionals strive to bring about evolutionary transformation in their businesses, vendors too are propelled to keep pace with the fast changing business scenarios. Today, vendors are also evolving with every new product, service and concept. They have become one of the crucial drivers of growth for the hospitality industry. Hospitality enterprises and vendors thus have become equal partners of growth in the new business ecosystem. This platform provides vendors to update and upload new products, services, catalogues, etc. Buyers can access all this information in seconds without wasting their time.
Have you developed a special software for Vendor Globe?
Yes, apart from the vendorglobe.com platform, we have developed Vendor Management System (VMS). We at Vendorglobe – an efficient player in hospitality procurement services – have come up with a clear vision and mission to develop tools and services that ensure far greater efficiency and speed in closing the procurement process. This entails all those earlier procurement hiccups, unmet deadlines and tardy delivery of supplies have now become things of the past. Through online tools such as VMS and services, vendors and hospitality buyers easily connect with each other and complete the negotiation process in no time.
What are the cost advantages for hotels using your platform?
Profit motive is the key driver. Whether it is a hospitality buyer or a supplier, both are driven by one common interest – profit motive. Success of business deals depends greatly on the negotiation process and a positive outcome of it. To ensure that both hotelier and supplier get the best possible deal in their respective business domains, Vendor Globe has come up with unique smart software Vendor Management System or VMS. Buyers can approach multiple vendors for their needs; negotiate for better terms; look for alternative products, trends available in the market which would benefit their business. By using our platform and tools, hotels would benefit in reducing the man hours, time in doing their paper work and work on negotiation process, and getting better deals to their organisations.
What are the long-term benefits for the industry (for instance, bringing transparency in purchase management, developing quality vendors, etc)?
In today’s world, digital is the key word of business. Lots of other industries have already moved their maximum process into digital. We at hospitality also should take the advantage of platforms, soft tools which is developed industry specific, by professionals who have worked for many years. This allows both vendors and buyers to save their time and money in travelling and meeting each other repeatedly for negotiations etc. Time is the essence in making decisions. Our tools not only make the negotiation process transparent and traceable, but also fast and efficient.
Getting skilled manpower is a big challenge in the industry. This will allow people to gain knowledge in making buying decisions.
Any other significant factor?
- We will strive to get the maximum tools which would benefit both, vendors and buyers. We are also developing certain tools for vendors which would ease their delivery process, etc.
- It is a long way to educate our vendors to come on digital platform as we have seen there is still fear or a kind of mindset which makes them think twice to disclose or display their products on this kind of platform.
- Procurement professionals are moving rapidly with the digital process and vendors need to keep the same pace.
- Our mission is to make this initiative global, which is a continuous process. As of now, we have seen tremendous support from both the sides and we will make sure this will be a one-stop platform for information on any kind of products for the hospitality sector.