“SAPEAP is a web portal wherein potential buyers can e-negotiate for their purchases on reverse auction basis, which helps them to get value for their investment. Through this platform we help our customers to increase their efficiency of procurement.”
October 30, 2020
Introducing SAPEAP to Paper Mart, Ms. Indu Tyagi, Co-Founder, SAPEAP, sheds light on the reverse auction: “Every industries purchases raw material and negotiate with their suppliers but the question is how big companies negotiate with their suppliers? The answer is — the negotiation is carried through online reverse auction portal, where multiple prospective suppliers bid against each other to see who is willing to offer the lowest price point for their good or service to the auction holder. Besides, e-negotiation saves up to 35% of money by increasing competition among suppliers in real time negotiations.”
Speaking on what prompted the launch of SAPEAP, Ms. Tyagi told that: “Generally, reverse auction platforms are feasible for big companies as such platforms are quite expensive. So we thought to provide similar platform to mid level and even small companies at nominal fees. This platform is a revolution in itself, and there is no competitor and no one is providing services like we do. We also plan to start more than 20 offices across India by beginning of 2022. We make sure that software access is provided to the suppliers who are duly verified and have credentials in industry.
Talking about company’s association with the suppliers, Ms. Tyagi told that “Under our privacy policy we do not disclose who are on board with us. No one wants to reveal that from where they are purchasing and at what rate. Currently, we are serving clients from textile, paper, steel, pharmaceuticals and other industries. Being an open platform, anyone can access the bid; however, participation can be done only through valid and unique login credentials so that no one knows who is quoting in during the auction without revealing the name of the buyer online. Our customers are aware that SAPEAP being an online platform, there is no need to meet with supplier to negotiate on pricing. Hence, in this time of COVID, online negotiation is a must for all the companies.’’
