Preamble:
As one element of the GDP, Government Spending (largely in Infrastructure) is the market for EPC companies. In last several years the current government has focused on this leg of the GDP to grow the economy. This has led to good growth in the EPC sector of the industry and companies are battling the scale alongside new entrants who are putting extreme pressure on the pricing.
Problem Statement
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There are multiple varieties of tendering, Open, Closed, two-part Techno- Commercial, three part (2 part +PQ), Four Part (3 part + EMD) etc. each of them with very specific workflows, validations etc. not designed well by most platforms.
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Features like Pre-Bid, During Bid communication, PQ compliance, Digital EMD collection and release, uploads & downloads at multiple stages, Leaf Node BOQs etc. are not designed well on most platforms.
Solution
We have taken a three-pronged approach:
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Standard RFQ module (all the variants) on a multi-tenant configuration: This is one of the most popular in the industry, covering all the use cases in the standard business workflow followed by all Mid & Large companies. “Simple to Use” attribute is the core and hence drives adoption by all users.
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RFQ module on a “Private Instance” with customization to cater to multi business groups, multi business geographies.
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Highly configurable RFQ module (self-configurable) with flexibility to use components like approval modules, notification modules, create customized commercial libraries with formulae (e.g. imports, domestic, multi-currency etc.) with several advanced features.
Outcome
With the above approach we are able to meet the exact requirement of each category of EPC on basis of the segments they are operating in. This has made us the most preferred “Source to Pay” platform in the EPC segment.
Future Plan
Modules to digitize the “Respond to Execute & Collect payments with Risk mitigations” are at various stages of development to strengthen our offering and help this segment digitize for scale, accuracy, risk-mitigation etc.