NEW DELHI--(BUSINESS WIRE)--Transforming Unilever Procurement’s contract management system, Moglix, India’s fastest growing B2B commerce and Procurement Software company, integrated iCAT, an Intelligent Contract Automation Tool to their existing contracting system.
Digitally transforming Unilever’s contracting process, covering $20 BN Direct Material spend, Moglix has enabled an innovative, transparent and efficient way of contracting.
Underlining the challenges faced by Unilever leading to this association; Unilever has geographically dispersed buyers across the world, who work on more than 120K contracts annually. Processing contracts at such a scale was a time and effort intensive activity for the procurement team resulting in long turnaround time. Also, cross functional collaboration and achieving operational efficiency was an issue.
Moglix has worked closely with Unilever to identify the root cause of the issues and co-create the solution to consolidate and automate their contract management process by deploying an Intelligent Contracting Automation Tool (iCAT). iCAT is a co-developed dynamic, cloud-based solution. iCAT makes the contracting process collaborative, efficient and accurate, increasing the contracting velocity and reducing risk.
iCAT provides 360-degree visibility of the contracts across the organisation, opening possibilities for deep-level predictive insights and analytics for improved decision making and supplier management.
Deployment of iCAT is a part of Unilever Procurement’s digital transformation journey and talking about it, Dhaval Buch, Chief Procurement Officer, Unilever commented, “Unilever has 1500+ procurement professionals, operating across 100+ countries, managing USD 20 Billion annually. Processing contracts for a geographically dispersed organisation was time-consuming and inefficient. After multiple attempts to solve the problem with other partners, implementation of iCAT with Moglix has been a gamechanger for us, as it has automated and streamlined our contract management process across geographies. The solution has paved way for Procurement to embark on our digital transformation journey.”
Dhaval further added that, “Moglix developed a sustainable and scalable solution, geared towards people efficiency and transparency. Design thinking workshops ensured that a robust solution was developed to cater to the diverse user base. Moglix brought their expertise on designing a solution that is centred around users, and worked closely with Unilever as an extended team to land the solution.“
Talking about the methodology Moglix took towards Unilever’s requirements, Rahul Garg, Founder and CEO, Moglix said, “Contract management is the heart of procurement. It was exciting to work with Unilever and standardize and consolidate their contract management process, that has saved time and effort. Large organisations like FMCG, Auto, Pharma and Chemical can use iCat platform to unlock great savings by consolidating their contracting process. Further, emerging technologies like machine learning and blockchain will be leveraged to draw actionable insights from the data in order to make the process transparent and compliant. We are excited to launch our SAAS offering – MS3 globally, specializing in solving supply chain problems, Moglix SAAS division will be led by Sandeep Goel, SVP Technology.”
Emphasising on the role played by Moglix in solving Unilever’s contracting issue, Sandeep said, “MS3 (Moglix SaaS solutions for supply chain) offering is driven by our deep understanding of supply chain and procurement through our MRO aggregator business. Our internal supply chain practices and experience enables us to execute digital transformation of supply chain in a clinical manner.“
Moglix is India’s largest and fastest growing B2B commerce company that specializes in B2B procurement of industrial products such as MRO, fasteners, electrical, hardware, pneumatics, safety items and more. We extend our expertise digital transformation of supply chain through the SAAS offerings focused around forecasting, procurement, procure to pay and order to delivery. Moglix is backed by industry stalwarts including Ratan Tata, Chairman Emeritus, Tata Sons; Jeff Epstein, Operating Partner at Bessemer Venture Partners and Ex-CFO, Oracle; Jim Baum, former Vice President and CEO, Netezza; Neeraj Arora, Ex-whatsapp, and Shailesh Rao, Ex-Vice President, Twitter and Google.
Moglix was founded in April, 2015 by Rahul Garg who was previously the Head of Advertising Exchange at Google Asia. Moglix is led by a group of young and motivated individuals passionate about digitally transforming the B2B commerce and manufacturing space.
The total amount of funds raised by Moglix till date is approximately USD 41 million from International Financial Corporation (IFC), Accel Partners, Jungle Ventures, Venture Highway, SeedPlus, Rocketship.vc and InnoVen Capital. Moglix is a part of the first cohort of startups incubated by SAP Startup Studio and supported by Bernd Leukert, Member of the Executive Board, SAP.