“We cannot solve our problems with the same thinking we used when we created them” -Albert Einstein

Creativity is the most essential component for any business to flourish. There is absolutely no denying to the fact that creativity drives success in any firm, whether big or small. In the world of e-procurement, creativity plays a prominent role too. The auction of FM Channels is one of the quintessential examples of creativity by the Government. No one would argue that back in 2000, when the Government held an Auction of FM Channels for the first time, it was a masterstroke killing two birds with one stone. It broadened FM coverage across the country and also generated revenue in an until then not-so-prosperous and under-developed Telecom Sector. Today, FM Phase III is under way and the revenues have touched a whopping Rs. 1140 crores.

Back in the 90s, a businessman was unlikely to shell out large sums of money for innovative sourcing processes. But, jump to the 21st century and you will find cost intensive R & D taking a backseat with frugal innovation gaining prime importance among businesses. Today, companies are unwilling to pay exorbitant prices for procuring goods or services. Instead, they are registering significant savings in their procurement costs through creative e-procurement solutions. Big firms like Aircel, Tech Mahindra, United Biscuits, Shipra Group and Tata Docomo are some of the examples of clients that have availed our innovative and out-of-the-box reverse e-auction platforms for reducing their procurement costs.

In the complex world that we live in, we need to constantly challenge ourselves to cross the barrier of innovation and spend less in a more productive way. This is what frugal innovation is all about. We need to devise ways of procuring goods and increasing geographical reach without spending much. Extensive research of the supply market is essential but this shouldn’t be done at huge costs. What is needed is a bidding process (reverse e-auctions) which buyers could use to improve supply market knowledge, analyse spending and invite only suitable bidders. This is what we, at C1 Global, provide. With our deep expertise, we guarantee that our solutions will impact your businesses tremendously.

The era of paper-based procurement with tinges of corruption is long gone. Using yesteryears’ sourcing techniques and hoping to solve our procurement problems is futile. Today, we are no longer hesitant in auctioning natural resources like coal and airwaves. Transparency and frugality are the prime concerns of procurement professionals. At times like these, availing creative e-Procurement solutions from industry experts is the need of the hour!