“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.