With an eye on the services market, construction giant Larsen & Toubro has announced the launch of a new B2B ecommerce platform for industrial products and services.
Called ‘L&T-SuFin’, the B2B platform will allow MSMEs to digitally source their industrial supplies ‘pan-India’ online.
The ecommerce platform hosts products across more than 40 categories and will cater to a pan-Indian market. In addition, the platform will also enable an entire ecosystem by enabling MSMEs to buy seller tools, ensure delivery, and engage in negotiations on a single platform.
The company claims that the platform will only host KYC-verified sellers and buyers, in a bid to check rampant duping of customers on ecommerce portals. The platform will reportedly serve more than 15,000 pin codes across the country.
Four to 5% of a company’s material bill is towards maintenance, repairs and operational items. L&T-SuFin will not focus on raw material as of now, but will expand its footprint over time. The demand for MRO items through SME is of Rs 1.5 lakh crore. These items are consumed by contractors and construction companies. The platform currently has 40-plus categories.
“With digital technologies, L&T SuFin is poised to transform Indian business landscape leading to formalization of traditional supply chains and creating a win-win situation for suppliers and buyers”, the company said in a statement.
The platform will have all types of construction and industrial products. At the same time, with an effort to offer industrial products to MSMEs across the country, logistics and finance will also be supported, said L&T’s Business Head Bhadresh Pathak.
“… With the launch of L&T SuFin, we take yet another leap in our digital transformation journey, building on our legacy of trust and keep understanding of the ecosystem. We are confident about L&T SuFin transforming the B2B marketplace for industrial products”, L&T CEO and Managing Director, SN Subrahmanyan.
L&T launches B2B e-commerce platform L&T SuFin to expand service biz
