Collaborative Selling Approach is Bnext Way
In a candid interaction with SMEStreet, Dipti Singla, Co-Founder, Bnext.in highlighted her organization’s unique approach towards B2B trading.
Here are the edited excerpts:
- What is your startup Bnext.in? And how is it different from the other existing players in the market
Established in 2017, Headquartered in Pune, and has a branch office in Mumbai, Bnext.in: is a Wholesale Distribution Software for the B2B market. Our enterprise SAAS platform enables manufacturers, distributors, wholesalers and retailers to connect, share and trade. Thus, facilitates to expand their business, nourish business networks and keep the customers engaged. It boosts the traditional trading system by empowering manufacturers and buyers to SHARE, SELL, and RE-SELL products from a common repository with the simple click of a button. It is integrated with social media and messaging platforms to make sharing easy and intuitive.
Bnext Differentiation. (www.bnext.in)
- The Business Model– While other B2B players are focusing on generating additional business by connecting manufacturers to retailers, we are focusing on digitizing their core business. While the suppliers in these trade networks are generating approx..5% of the business through modern trade channels,95% of their business is still coming through Traditional distribution networks and Bnext is targeting these networks.
- The Network Effect– Bnext is the only B2B system where supply nodes can invite, connect and trade with their suppliers and buyers in a closed loop system.
- What was your eureka moment? And how do you wish to bring a change in the B2B retail space by in
The B2B retail space is marred by stagnation and inefficiencies. Upgrading this unorganized sector has largely remained a distant dream due to several network complexities.
Bnext is set to change all of that with its intuitive, affordable and simple tech solution. We want to integrate this highly fragmented market, reach out to smallest towns and villages and bring efficiencies in the entire trade channel by connecting the various nodes of trade network, reducing the cost of distribution and providing complete data transparency throughout the supply chain.
As the first step we have made digitizing the inventories super simple, now vendors don’t need to list their products multiple times. A common product repository is created only once on Bnext and re-sellers can use the same to sell and push the products further down the line. Thus facilitates a seamless business process i.e. connecting >> sharing >> transacting.
Trust and credibility is a major factor while doing business in India. While other players focus on helping traders with new business, we keep their trust intact by empowering them to trade within their closed-loop network.
- What made you come up with the idea of creating a technology platform of SME’s?
While we all are aware about the benefits of embracing technology in business, there is still a large segment of business lagging behind the tech-era. Over one-third of business leaders divulge their organizations are laggards when it comes to adopting new technologies.
97% of India’s trade happens through unorganized channels. There are millions of small and medium businesses, who actively contribute over 30% of India’s GDP. But these SMEs don’t know tech and are unaware of its enormous potential. They believe that what has worked in the past will continue to reap the same rewards in the present; however that’s not the case.
Also the cost of up gradation is higher and includes factors like, implementation of technology and training the staff. Especially for SME entrepreneurs who cannot afford it.
Most of these traders, merchants and small businesses don’t even have a website or a digital system in place. And even if they do, these systems work in complete isolation.
We realized, despite being in the era of ‘Digital India’ one of the strongest pillars of our economy still follows the age old ways to function. There has been no significant technological development in this space for past 50 years.
Recognizing these challenges and pain points of the SMEs, we thought about bringing a solution to their problems. Thus, creating an enterprise SAAS platform – Bnext, which is set to redefine the way general trade network in India connects, shares and trades?
We believe that PM Modi’s initiative like Digital India will truly turn successful with innovative and efficient solutions like these that not just cater to one problem but the entire general trade network.
- In the next 3 years where you see your company and What are your future plans?
Our focus for the next couple of months is to build a highly engaging user base where every single customer realizes tremendous operational efficiency and sales lift by using Bnext.
Knowing that the future depends on business intelligence, we are set to leave no stone unturned to create an absolutely flawless and organized trade system. We are building technology to support integrations with the ecosystem (biggest focus will be financial institutions) so we can create easy and instant access to credit especially for smaller wholesalers and distributors.
Our engineering team is also working on a radically new AI-driven analytics model which will deliver simple actionable insights (both personalised and aggregated) to the entire user base.
Our goal is to integrate accounting, warehousing and logistics. Thus, promote complete data transparency and analytics throughout the supply chain. This will create exponential growth in the trade as well as accelerate our growth.
- What is your target audience? And how do you attract the sellers, retailers etc? Do you have a designated sales team for the same?
Small and medium business enterprises. Manufacturers who design new products frequently and are looking forward to sharing the details with their buyers or sales teams.
We attract them via digital marketing and direct sales. We do have a designated sales team to reach our potential customers but our major users are signing up through references and accepting the invites sent by their networks.
- How many people you have on your team and where is your office located?
Total- 21, Pune – 9 &; Mumbai-12. Our registered office is in Pune and the tech team works out of office, while our business office is in Mumbai, sales, marketing and support teams works from this office.
- What according to you are the new trends in this space?
In the digital era, Bnext- wholesale distribution software is the need of the hour as it facilitates instant trade within the network. Our B2B bulk buying is the stepping stone to create an organized trade network in India. Perhaps, responsibly disrupt the market by adding value to both the business and the general trade community.