WCUBE SOLUTIONS PVT. LTD.
A BRAND ON THE MISSION TO TRANSFORM AND REDEFINE THE B2B ARENA WITH AN INNOVATIVE APPROACH
IZM: PLEASE PROVIDE A BRIEF INTRODUCTION TO WCUBE.
UDIT: WCube is a B2B Buying Managed Marketplace supporting mid and large enterprises procure effectively. The business strives to create active synergies between technology, procurement, and supply chain by breaking down complex problem statements into sustainable solutions. The relay of the technology falls on an exhaustive product information management system that drives product information in a smartly developed cataloguing system capturing applicability and user feedback on the product.
The entire moat of the model resides in the way the vendor base and client base interact with each other. So we have a very heavy centric on manufacturer sourcing model of procurement.
IZM: TELL US A LITTLE ABOUT YOUR JOURNEY SO FAR.
UDIT: If I talk about the journey, one of the key areas for us in terms of brand story was to make unsexy the new sexy. So, we wanted to have the baseline of B2B Buying become more consistent when it came to large enterprise in facility management and manufacturing consumables segments. Primarily, we wanted to focus on a story where we could knit a manufacturer into selling tangled products to large enterprise customers. Secondly, we wanted to standardize the unsexy product.
We are a platform where quality, grade, size, weight, etc could be defined and consistent. Today, we’re closer to about 40,000 vendors across different categories of products. On the customer front, we work with about 450 brands today, typically ranging from 100 crores to about a few billion dollars in revenue. We raised our seed round in Dec’21 and are currently expanding operations to cities like Mumbai, Pune, Ahmedabad, and Chennai.
IZM: WITH THE MARKET GETTING CROWDED BY THE DAY, WHAT ARE THE KEY FACTORS THAT DIFFERENTIATE YOU FROM YOUR COMPETITORS IN THE MARKET?
UDIT: There are mainly three pillars on which the moat of the company is built. “WCube is the only organisation in the marketplace that understands different parameter of standardizing a product,” says Udit. Thus, we understand the products much better and deeper in terms of market dynamics and competition. Second is our adoption of a vendor-centric business approach which is concentrated towards the manufacturer side.
This has resulted in alliances with over forty thousand manufacturers across India. Finally, third is our technology-enabled business model which enables visibility across teams, smooth information flow, and better efficiency in order fulfilment. All these aspects help WCube to provide consistency and quality products to its clients. Moreover, we practice a transparent and accountable approach when it comes to their buying and selling model.
The company aims to expand PAN India and later to Southeast Asia and the GCC region in the coming years. We also intend to focus on manufacturing technology and quality assessment technology to enhance the output for the manufacturers’ end and the success ratio of our customer base.
IZM: PLEASE SHARE YOUR PERCEPTION OF TECHNOLOGY AND ITS ADAPTATION.
UDIT: We are a tech-enabled company using technology to create visibility in the entire process, enable exchange of information across departments and improve efficiency. On the technology front, we currently have three fully functional products helping us engage and interact with cross-functional teams within WCube, clients, and vendors, namely CubeOps, VendorCube, and CubeProcure.
Our Information Management System is the backbone of our company that stores and maps over 40 crore SKUs to vendors and clients, enabling product standardization, reduced response time, and ease of pollination with clients. Our tech-enabled quality assurance at vendor end has helped us keep return ratios to a bare minimum, effectively enhancing cost efficiency. We have successfully integrated order tracking on our platform and are now able to send push notifications to stakeholders involved, order status to the last mile.
ACCOUNTABILITY
The tech ensures streamlined interaction amongst cross-functional teams and records inputs meaningfully defining clear functions to teams.
CONSISTENCY
The Product Information System enables standardizing unbranded products across parameters mapped to vendors and clients ensuring a consistent product delivery each time.
TRANSPARENCY
Push notifications enabled tech, sending order status to relevant stakeholders across the food chain.
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