Moglix looking to disrupt business procurement in the UAE
Moglix is looking to bridge that gap between business and consumer buying and introduce technology to business procurement.
The Singapore-based online business-to-business procurement platform recently expanded to Abu Dhabi and Dubai with the ambition of solving the region’s procurement challenges, the result of outdated practices.
“While consumer-tech is benefiting from digital technologies and innovations, business-tech is still largely unchanged from what it was ten years ago. Business procurement still follows the same procedures of getting multiple quotations from the market and going through all the administrative work,”said Malviya.
The online platform will also be deploying more of its solutions in the region, such as procurement options for the construction and manufacturing sectors.
Moglix Expands Business to the UAE
Moglix enters the UAE as part of its global expansion plans. We will enable enterprises across the Manufacturing, Oil & Gas and Infrastructure sectors to transform their end-to-end supply chain, from procurement to distribution. Through our digital platform, supplier and buyer network, and logistics strength,
we bring down cost, enhance sales, improve operational efficiency, and make the supply chain touchless.
“We are excited to enter the UAE. UAE is a gateway to the GCC and a major hub of global commerce and innovation with a vision to transform into a Digital economy. The UAE government’s mission and investment in digital upskilling is unmatched and we are looking to collaborate with local talent to jointly drive digital transformation. Our vision to build the operating system for commerce is closely aligned with the Digital UAE initiative to make the UAE a Smart Country and we are looking forward to empowering stakeholders to achieve this goal.“says Rahul Garg, CEO and Founder, Moglix
Explore Moglix B2B E-Commerce Portal
Moglix recently raised its Series E round of funding led by Falcon Edge Capital through their Abu Dhabi based Alpha Wave Ventures, becoming the first B2B Commerce unicorn in the manufacturing sector, with a total funding of $220 Million and a valuation of $ 1 Billion
Startups fight COVID-19: Moglix fights against India’s oxygen crisis
As India battles the deadly second wave of the COVID-19 pandemic, startups, corporates, and individuals are all rallying together to ensure that they are doing their bit. The biggest challenge in the second wave is the dearth of oxygen cylinders along with crucial medicines.
“We estimate the need for at least 100,000 oxygen concentrators across India. However, each person buying an oxygen concentrator for themselves is not scalable and will lead to inefficient distribution of precious resources. Most people will ﬁnd the cost prohibitive and the requirement short-lived (one to two weeks),”Rahul says.
B2B ecommerce startup Moglix has been supplying PPE, oxygen concentrators, oximeters, thermometers etc. to essential goods and services companies to ensure their employees are protected. It has also distributed 15 million+ PPE kits and safety items amid this pandemic.
The startup has developed a “group sharing model” for increasing the impact of every oxygen concentrator by 100x, and is enabling organisations, NGOs, trusts, and RWAs to create oxygen concentrator banks for patients and providing a safety net for their communities.
“If your organisation would like to join us in this mission to provide a safety network to corona warriors, please write to us at email@example.com. We can help you set up similar network-based models for your organisation and share our learning/ SOPs. Let us come together to do our bit in this ﬁght,”Rahul Adds.
How Technology is Accelerating Value Creation in the Manufacturing Sector
Sandeep Goel, SVP- Technology shares his thoughts on how technology will pave the way for a futuristic manufacturing sector, at the Future Of Work Summit organized by YourStory.
He talks about the impact of COVID-19 and how it transformed the manufacturing sector in India. The pandemic accelerated the shift that Make in India has enabled in the sector, bringing about transformations, both physical and digital, boosting the self-reliance of India’s manufacturing sector.
Sandeep outlined key challenges that continue to persist in the sector, highlighting the need for streamlining order processing, and transaction data integration, and lack of intuitiveness when it comes to the application ecosystem.
He highlighted the role of technology in altering the future of manufacturing. How rapid advancements in digital technologies are revolutionizing business supply chains, and are poised to transform how the procurement function delivers value and enables swift decision-making in the ecosystem. He also talked about the need for constant connectivity as the norm, and how sensors are bringing devices and machines to life in the Internet of Things.
Moglix Welcomes Neelam Dhawan as Board Advisor
Neelam Dhawan, tech pioneer, joins Moglix as board advisor. Neelam has previously worked at Hewlett Packard (HP) Enterprise and Microsoft, IBM and HCl, among other companies.
Currently, she is a supervisory board member at Royal Philips, Netherlands, and non-executive director at ICICI Bank India, Skylo Technologies, Capita PLC, and Yatra Online. Moglix said it plans to start a new phase of global expansion.
“I am excited about my new role as a board advisor at Moglix. Moglix is pioneering supply chain digital transformation in the country and overseas. I look forward to contributing to Moglix’s endeavors to grow and deliver impact globally at scale.”
Neelam has been instrumental in shaping the IT industry in India. Throughout her career, she has repeatedly demonstrated leadership, innovation, and fearlessness, values that we hold in high esteem at Moglix. The scale of operations and innovation that she has successfully implemented, and her vision resonate strongly with the mission of Moglix to reimagine B2B commerce and supply chain at scale globally. We are delighted to have her as the board advisor at Moglix.
Moglix CFO: The role of a CFO goes beyond finance when it comes to startups
Rahul Goel, Vice President- Finance, talks about the challenges and success factors of new-age CFOs. Having worked with both startups and MNC’s, Rahul believes that the role of a CFO goes beyond finance when it comes to startups. He dissects various challenges that CFOs face in the startup world especially in the tech space, followed by the successes that lead around for CFOs.
A finance professional for over two decades, the Moglix CFO believes that two major factors that are often ignored by most financial heads at companies are growth and governance which play an important role in the journey. He stated that Indian companies have yet to understand the business model and efficiency of tech startups so that they can be evaluated correctly.
Given that tech startups ought to have cross-functional leaders, the biggest challenge for a CFO is balancing the speed and agility of the finance operations with the other parts of the business from product to marketing. “In the early stage of that product, the resources might be limited but the speed at which the company wants to run might be very fast,” Rahul added, highlighting the need for CFOs to learn about other domains to react in a quick manner.
One of the most crucial tasks for a CFO is fundraising. A new-age CFO needs to assume responsibility for the complete fundraising cycle — from the timing of the fundraise to creating a healthy financial picture to meeting with advisors to identifying the right strategic partners and attracting the right set of investors.
Rahul states that it is crucial for any company to hire a CFO from the start itself in order to be successful. One needs to be more agile, fast, and innovative in order to reach the business requirements and when it comes to tech startups, CFOs need to be dynamic. He explains how important it is in a tech startup, such as Moglix, to focus on key performance indicators.
Moglix launches digital supply chain financing platform Credlix
Moglix launches digital supply chain financing platform Credlix with the aim to provide quick collateral-free working capital solutions for its 15000+ suppliers and make the supply chain ecosystem future-proof from disruptions.
Credlix aims to make it easier for the suppliers to get just-in-time payments through its technology-driven supply chain financing system. Suppliers will be able to request early payments from enterprise buyers at affordable discount rates to keep their supply chain up and running even during times of disruption.
Rahul Garg, Founder & CEO, Moglix said in a statement,
MSMEs in India account for 11 crore jobs and 29% of the country’s GDP. Unclogging the cash flow through the supply chain will be integral to fostering winning partnerships between MSME suppliers and large enterprise buyers and realizing the Government of India’s vision for Aatmanirbhar Bharat.
Credlix is on track to provide invoice discounting of Rs 1000 crore over the next 12 months and is aiming to touch Rs 10,000 crore discounting value over the next three years by scaling up to include more banks, suppliers, and geographies.
HR Priorities for 2021: Director- Human Capital
Saumya Khare, Director of Human Capital talks about the HR priorities for 2021. She throws light on the learnings from 2020, the growing need for adaptation
In 2021, HR leaders will have to explore new ways to optimize talent retention costs and facilitate better work-life balance.
Saumya elaborates on the growing need for digitization and analytics in the existing models, to not only revamp the current processes but to also innovate methods to grow the organization as a whole. what the future workplaces would look like and the best practices they should start following in order to build workplace 4.0.
HR leaders will have to ensure that functional teams build the strength to sustain sudden changes to team structures, health risks, and logistical disruptions. They will have to provide greater multi-tasking, learning by doing, and familiarize the staff with the new roles as contingency measures.
Interview: Moglix CEO on Future Plans and Acquisitions
Rahul Garg, CEO & Founder, Moglix business talks about future plans and Moglix marking its presence across 35 locations in India with its recent expansion to Goa & Guwahati. Rahul shares his insights on the manufacturing sector, the impact of the ongoing crises on it, and how its supply chains are under a major transformation.
Moglix has captured 80% of the manufacturing hubs and is now aiming to go for smaller businesses in order to strengthen the network and spread its roots in smaller cities too.
Ratan Tata-backed Moglix Expands Operations in the UK, Europe
At a time when the world is grappling with a dire lack of coronavirus-related supplies, B2B eCommerce startup Moglix Business expanded its service offerings in the United Kingdom and set up operations in Europe. Having been present in the UK since November 2019, it always had a plan for global expansion for its maintenance, repair and operations (MRO), and SaaS businesses in the UK and Europe.