The process of industrial services procurement has remained unchanged over decades for operations, project, and maintenance managers, as well as vendors, in manufacturing and allied industries. The traditional process is also familiar to them and thus remains the primary mode of operation, despite large-scale digitization across other parts of the industry. However, familiarity with a process does not guarantee efficiency or even results.
This is what the founders of Venwiz realized while working in the manufacturing industry. They witnessed the challenges faced by manufacturers and vendors firsthand. Thus prompting the question:
What if we told you there was a way in which digitization could not only improve the process but also reduce time, increase efficiency and improve collaboration?
Thus, Venwiz was created as a one-stop solution and one of the most powerful tools for your business whether you are a manufacturer or a vendor.
What can Venwiz do for you?
Let us begin by defining our solutions at a micro-level for our primary stakeholders i.e. Operations, Project or maintenance managers, and vendors. With Venwiz, you get a full-fledged solution that is focused on improving your service procurement journey within the manufacturing and allied industries.
If you are a manufacturer, Venwiz can help you:
- Reduce time and cost of vendor discovery by previewing vetted and comprehensive vendor profiles to evaluate a vendor
- Engage with vendors digitally via the platform
- Access a large, valuable network of relevant service vendors, leading to better price discovery
- Benchmark your existing vendors against a larger pool outside your network
- Review and share feedback, as well as view previous client experiences for vendors
As a vendor, once you sign up on Venwiz, you get:
- Simplified registration
- Connected to qualified and high-value business leads from across India
- Introduced to the relevant stakeholders within a manufacturing facility
- Expand business into new geographies or verticals based on demand
- SaaS features that enable you to manage your business and communications through a single window
- Feedback on your performance from clients and insights on skill gaps
To give you a better understanding of how Venwiz is changing the landscape of industrial service procurement for you, let us walk you through a simple comparison of the traditional process that most managers and vendors are familiar with versus the Venwiz experience.
Note: Industrial services encompass a broad range of activities that a shop floor manager needs to source from vendors to ensure continuous and smooth operations at a manufacturing plant.
Traditional Industrial Service Procurement in India:
Traditionally, industrial service procurement goes through the stages of offline discovery of service vendors, informal scoping, and job collaboration, which is not only expensive and laborious but also time-consuming for managers.
Whenever a service requirement is identified, a manager initially relies on their personal network or networks of other managers to source or discover the right vendors to collaborate with. Alternatively, they search online and try to contact vendors via listings and directories. This process could take anywhere from a few weeks to months, to get to the stage of shortlisting. The number of service vendors that can be evaluated by a manager, is also limited by these networks, lists, and directories and remains unorganized.
Most of the time, when evaluating a limited pool of vendors over a long period, a manager who is deprived of a larger choice will ultimately be limited with price discovery as well. There is also a huge dependency on the availability of those particular vendors to do the job at the required time.
Additionally, as service procurement is not uniformly standardized it cannot be procured right off the shelf.
Purchasing or procuring customized services requires a deep evaluation of the appropriate service vendor. Everything from their capabilities to the scope of work and experience of past clients would need to be verified, thus making it both a qualitative as well as a quantitative evaluation, something that is not readily available even after you can discover vendors within the network.
The Venwiz Solution:
At Venwiz, we are addressing these challenges at their core. Our solution is a simple, yet powerful AI-driven platform that will help our users discover service vendors who are relevant only to their requirements, saving stakeholders time and effort, especially by helping them reach the shortlisting stage within a few minutes (a process that would otherwise take months). We aggregate service vendors from across the country and equip them with a detailed 360-degree business profile. This profile will also help managers, giving them the ability to quickly assess whether the vendor is the right match for the job. We have also considered the barrier of improving how vendors & manufacturers communicate;
All of these challenges faced are taken into account and addressed comprehensively, from the point of view of the industry, considering all stakeholders in the process of industrial service procurement.
Our goal is to be your one-stop solution for all the service requirements at a manufacturing facility. We are currently in the process of helping managers discover prescreened vendors on our platform and access all relevant information required to shortlist them. Join us today to initiate your journey towards becoming more efficient and streamlining your process of industrial service procurement.
To discover our offerings, click on the link!
Contact us: contact@venwiz.com
Register or log in to our platform for all your capex procurement requirements.
