In my professional journey, I have had the opportunity to work with large organizations in the banking, card, and insurance sectors. However, working on the largest eProcurement platform for the Government of India was a uniquely enriching experience. According to World Bank estimates, public sector procurement accounts for up to 20% of global GDP, with private sector procurement adding to this figure. Additionally, the IMF reports that delayed payments in procurement processes can reduce vendors' profit growth by up to 3.4 percentage points and increase the likelihood of default among private companies. At Intellect Digital Technology for Commerce | iDTC, I am fulfilling my dream by exploring new possibilities through the integration of banking and procurement solutions using Intellect's eMACH.ai framework. Procurement processes are inherently long-running and require integration with multiple enterprises, such as payment gateways and standard bodies, and must be seamlessly incorporated into organizations' existing workflows. Playbook-driven headless Open APIs, facilitated by Intellect's iTurmeric technology, simplify and expedite these integrations. Orchestrating existing banking microservices (e.g., supply chain finance, bill discounting) with procurement events benefits customers in both the banking and eProcurement ecosystems. Artificial intelligence and generative AI are accelerating procurement processes through cognitive decision-making (e.g., vendor onboarding) and automated content generation (e.g., contract terms), thereby reducing inefficiencies and compliance concerns. Beyond traditional compliance, sustainable, ethical, and localized procurement is becoming crucial for achieving sustainable development goals (SDG). In this domain, AI expert agents based on Intellect's Purple Fabric enable timely process interventions to ensure compliance. Cost efficiency is also being enhanced through cloud adoption and further bolstered by iDTC's invoice and payment automation solutions. Overall, Intellect's eMACH.ai approach to procurement optimization is a transformative force for our clients, adding significant value to the ecosystem. The iDTC product suite embraces eMACH.ai in each implementation, creating new opportunities for Intellect, our customers, and the procurement ecosystem as a whole. #eProcurement #PublicProcurement #iDTC #IntellectDesign #eMACHai #FinTech #FirstPrinciplesThinking #DigitalCommerce #iTurmeric #PurpleFabric #GenAI Debanjan Kumar Manish Nahar Sunil Rajvanshi Mahesh Jakhetiya Intellect Digital Technology for Commerce | iDTC
Great service!
Great service!
Paresh Nakum
2mo
Impressive information 👍
Fantastic idea
Saurabh Singh
2mo
It amazing sir🎉
Sunil Rajvanshi
2mo
Exciting!
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2moThe information presented is quite extensive to understand the solution but you have not touched on the USP presented to differentiate