Moglix, a Ratan Tata-backed leading B2B commerce company, today announced that it has won 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category. The prestigious honor bestowed by SAP India is in recognition of Moglix’s outstanding innovative procurement technology shaping the manufacturing sector of India.
Moglix – SAP ACE Awards 2018
This prestigious award showcases Moglix’s investment in technology for Moglix MRO buyer terminal which digitizes the procurement cycle for its customer base, for all the indirect sourcing done through Moglix. The solution has helped them achieve bottom line savings, by ensuring seamless flow of information with its client. It also allows Moglix drive competitive advantage by improving its overall customer service level.
SAP ACE awards are an industry benchmark to recognize the best-run businesses in the Indian subcontinent. It recognizes and lauds excellences in IT innovation across lines of businesses, who are bringing about a digital impact in India’s economy. This year, SAP ACE Awards 2018 received over 300 project nominations competing across 16 major award categories, with a distinct focus on large and midsize companies. SAP followed a stringent selection process comprising of submission and evaluation of application, telephonic interview, and thereafter the final decision is made by a panel of technology leaders who are independent jury members from the industry.
Commenting on the win, Rahul Garg, Founder, and CEO of Moglix said, “We are immensely proud to receive one of the industry’s most coveted awards, in recognition towards our effort to digitize and organise manufacturing sector of India. This award gives us a boost towards our aim of innovating new models to reimagine and transform B2B commerce space through technology.”
Moglix is an Asia based B2B commerce marketplace that specializes in B2B procurement of industrial products such as MRO, fasteners, electrical, hardware, pneumatics, safety items and more. Its aim is to be the largest technology platform where demand and supply can be matched through price discovery and product availability.
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 shaping the manufacturing/ B2B commerce landscape in India.
The total amount of funds raised by Moglix till date is approximately USD 18 million from International Financial Corporation (IFC), Accel Partners, Jungle Ventures, Venture Highway, SeedPlus and Rocketship.vc. The company is backed by Ratan Tata, Chairman Emeritus, Tata Sons as an investor. 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.
For more information, visit business.moglix.com.