EI Corporate Services has developed an Android-based app to tackle the vendor selection issues of companies.
The app, which was under trial for the past one month, will go live on July 25 to cater to different types of service requirements, including administrative, technical, legal and HR needs. The app offers 39 different types of services.
“This app will be used by the HR and Admin heads of companies to place their requirements for respective services. The request will appear on our digital platform and will be monitored by our professionals, who will direct these requests to the applicable vendors. The company is at liberty to choose a vendor for its requirements. All this comes with zero cost to the company,” said Bhavesh Upadhyay, founder, EI Corporate Services , an arm of Enterprising Indian Organisation.
Developed in-house, the app has so far got over 115 companies on board. On the vendor side, about 150 vendors have already empanelled with EI Corporate Services in the 39 service categories. Upadhyay claims this to be a unique platform, which acts as ‘one-stop-shop’ for a wide range of corporate service requirements. These include manpower hiring, HR services, payroll outsourcing, public relations, safety consultant, event management, regulatory audit, finance, investments, private equity, land acquisition, IT, medical, among others.
“These service providers are verified with proper due diligence on legal, professional and operational aspects. The benefit to the companies is that they quickly get qualified and credible vendors without going for their background check,” said Upadhyay, adding that the big benefit will be for SMEs and start-ups, who are more at risk of burning their fingers while engaging with unprofessional vendors. “We are already getting 10-15 enquiries daily,” he said.
EI Corporate Services, Ahmedabad-based start-up, charges vendors a one-time fee of ₹30,000 for documentation and due diligence besides taking a small portion of profit from their business generated through this platform. Profit-sharing is the main revenue source.
“There is a registered contract signed with each vendor, who can’t directly deal or negotiate with the company outside the EI Corporate Service platform. And companies on the other side, have no cost to bear hence it is a win-win for all,” he added.
Upadhyay looks to have about 500 such companies using its app in the next six months, while the number of vendor services offered will also be expanded in due course. “At present, our geographical reach is limited to three States. But in the next six months, we plan to spread ourselves across India with about 1,000 vendor agencies registered on our platform by 2020,” he said.
Source: The Hindu