Kalyani Group company Synise Technologies, has entered into an alliance with UK-based cloudBuy, for operating a B2B market place and sourcing from India.

The partnership aims to create a market place that will cater to procurement of indirect material from industries like auto, auto ancillaries, FMCG, Textiles and Capital Goods amongst others.

The market size in India is estimated to be $2 bn. for indirect material and the partnership aims to capture a sizable share of it in the next few years, a statement said.

The collaboration will help improve on Synise’s existing outsourcing of procurement with cloudBuy’s solutions that offer from sourcing to payment. It also adds many features and offerings such as spend analysis, contract management, payment facilities etc. 

Ashok Dani, CEO of Synise said, “The Gulf States are India's largest trading partner and we have the largest group of vetted high quality Indian suppliers. There is immense potential in providing these suppliers with B2B e-commerce so that they can easily export to the world, at the same time as making their Indian business more efficient. The association with cloudBuy will help us tap this potential and provide a value added proposition to our customers.”

“Having come directly from meetings in the United Arab Emirates where we have opportunities that are a perfect synergy with the “Make in India” campaign, it was great to immediately finalise a deal that will support Indian exports to the Middle East and the rest of the world,” Ronald Duncan, Chairman of cloudBuy added.

Related Topics
comment COMMENT NOW