ERP Insights >> Magazine  >> October - 2021 issue

Mavenvista Technologies: Committed To Delivering Intuitive Digitization Solutions To Optimize Costs

Author : Suhrid Shah, Founder, MD & CEO
Tuesday, October 19, 2021

Suhrid Shah, Founder, MD & CEO

To succeed in the highly dynamic market place, it is imperative for organizations to sharpen their competitive edge to gain prominence over other market players.

A typcial manufacturing company, depending on the industry it belongs to, has procurement spend of approx. 45% to 85% of their revenue. Considering this fact organizations are putting highest priority to optimize their procurement costs.

Most mid to large size companies do have ERPs which have the capabilities to manage internal procurement processes from planning, budgeting, requirements creation, order creation, evaluation of data of received goods and accounting, but a major lacuna lies in the interface with the vendors to facilitate transactions, communications, analysis & information sharing. Envisaging this gap in the procurement function which accounts for majority of the cost, Mavenvista Technologies was incepted in 1999 to provide a solution for optimizing procurement function thru digitization of end to end procurement processes.

With its brand `VENDX', MavenVista has emerged among the top market leaders in India for most effective digitization of procurement function. `VENDX' is an ideal bridge between ERP of the customers and their suppliers.

Carving A Niche In Digitization Of Procurement Operations
As the key facilitator of digitization of procurement in India, the inception of Mavenvista happened a bit ahead of the time when procurement was not in the top radar of the senior management of most companies. Besides there was a serious apprehension pertaining to adoption of technology solution by suppliers. Another major challenge for Mavenvista was competition from some of the most prominent MNCs who were trying to build their presence in India.

Implementing an `agile' and `customer-first' approach, MavenVista team took up this challenge like true champions. This committed approach ensured customer delight thru delivery of most appropriate solution suiting their needs. Topping up with highly agile customer service function, MavenVista could ensure seamless adoption across users of VENDX to generate quick ROI for its customers.

"Our biggest strength is in listening to our customers and offering them most suitable solutions. This coupled with our strongly imbibed values of honesty, transparency, winning attitude, excellence in everything we do & consistent innovation & creativity, has helped us to deliver highest satisfaction to our customers. This also ensured quick adoption of the solution among our customers to an extent that they started owning our solution as their solution. With desired track record established with even large organizations, we could carve out a niche for us which led to recognition in the industry," shares Suhrid Shah, Founder, MD and CEO, Mavenvista Technologies.

VENDX is very user-friendly and a comprehensive solution, which drastically reduces turn around time in the procurement operations besides ensuring savings and efficiencies.

"Sourcing is the most crucial procurement function which demands collation of information, efficiency in the transactions and insightful analytics to ensure most optimum decisions".

“What Mavenvista is offering to our customers is not just a solution but a comprehensive procurement management system that transforms the way they create value for their companies”

Designing Premium Solutions For Customer Challenges
MavenVista has extensively interacted with procurement domain experts over the years to design VENDX which addresses most effectively day to day challenges of buyers & also provides much needed strategic insight for forming the most appropriate buying strategies. VENDX brings complete transaformation in the procurement function thru end to end digitization there by ensuring unpecaable transparency in the decision making, eliminating maverick buyng, optimizing decisions & establishing highest compliance resulting into huge cost savings for organizations.

Being a highly agile & customer-centric organization, Mavenvista hosts a unique culture within the organization that not only allows its employees to be innovative and but also to thrive by thinking outside the box. Promoting a smooth transfer of knowledge across every functional vertical, the company extends continuous support to its resources to learn about new technologies and trends. Maintaining a culture that prioritizes on innovation and motivates employees to constantly learn new things and develop, Mavenvista has been able to address the challenges of its customers seamlessly and simultaneously gain an upper hand over its competitors.

The transmission of information from customers to the relevant functions of Mavenvista is seamless and this has led to the design of quicker yet contemporary solutions to address customer challenges. Over the years this core value of the organization has led to the evolution of its product portfolios which are convenient to use and yet comprehensive to meet customer objectives most effectively. The journey of the evolvement of the solution has led to a 100% success rate for seamless adoption among all its customers, which has upsurged as the biggest USP for MavenVista.

With clients in sectors ranging from cement, pharma, chemicals, agro chemicals to FMCG and textile to mention a few, Mavenvista has emerged as a market leader in the Procurement Solution Domain, with customers like Dalmia Cement, Ultratech Cement, Jubilant Group, Intas Pharmaceuticals, Aarti Industries, Ruchi Soya, Gujarat Heavy Chemicals, Arvind Ltd, Galaxy Surfactants and many others, who happily endorse the value delivery of VENDX.

MavenVista has also been recognized consistently thru various awards including `The best procurement technology solution award 2020 - co sponsored by Nasscom', The most innovative SME in the supply chain ­ by Hannover Milan & Indian Academy of Management, CIO Choice Award as The best procurement solution of the year in the year 2016 & 2017 ­ co sponsored by KPMG.

"With our robust product architecture as well as our flexibility to address niche business - critical needs, we have been able to offer solutions meeting our client's needs most effectively" said Suhrid Shah.

"We bring together the inputs from both domain and technical experts while designing our product which enables a delightful and seamless customer experience. This in turn has helped Mavenvista gain a solid footing in the Indian market" declared Suhrid Shah.

"VENDX is now very well placed as it embarks on its future journey to further transform the procurement function thru RPA and AI so as to continue delivering unparalleled value for its customers" avers Suhrid Shah.