POSTED AT 11:21 AM 09-07-2018
Omentra.com celebrates 1 year of successful operation
Omentra.com team members
Procurement was a manual function, driven largely by phone calls, faxes and handshakes. Then along came Omentra.com, which changed everything and made a fundamental shift in the way procurement is done in Sri Lanka. It all started with the idea that buying and selling among businesses did not need to be so hard. That with the right technology, companies could automate the process and interact in totally new ways that enhance their top and bottom lines.
Having taken a big chance in getting Sri Lankan businesses to embrace this concept has clearly paid off. Officially launching on 10 July 2017 as Sri Lanka’s first B2B market place to online procurement solution, Omentra.com recently hit its first year anniversary, sealing their position as the company that utilised technology and networks to completely change and move procurement from a tactical function to a strategic driver of business value.
Within a year, the Omentra team has created a fully transactable B2B marketplace, offering the convenience of downloading quotations at the click of a button, raise POs and e-invoicing and other relevant tools, and overall fulfilling specific buyer-supplier requirements, consolidating tail spend across thousands of suppliers and buyers, not only to reduce costs and risks through rationalisation but also to unify payment terms.
Omentra.com has also secured a huge spectrum of clients from small, medium and large enterprises, as well as from the State and Government sector. Their customer satisfaction surveys, testimonials and repeat business indicate that the service is highly valued by those who use it. Their remarkable growth trajectory includes over 1100 registered buyers and 550 registered sellers. Almost 90% of Omentra’s suppliers have acknowledged that they benefited from new business leads within a few months of joining; whilst buyers state that the solution helped them select the right high-quality brands for their requirements, hassle-free.
Omentra.com stands today as a perfect example of a platform-based business model that can serve as either a hub or an entire solution for a companies’ purchasing activities, catering to their every need in this space.
Having shortlisted suppliers to meet buyer needs across all key categories, Omentra launched the first digital procurement solution for the Automobile sector, securing the international brand Hyundai as the initial client to come on board. Omentra was then instrumental in launching the first-ever promotion for Corporate Christmas Décor and Corporate Hampers as well as in launching the country’s first dedicated digital platform for business media (OmeBiz). Their latest innovation was the launch of Omentra Events, a dedicated solution for the convenience of both corporate event organisers and participants.
Additionally, they have helped many associations to digitally transform their procurement such as FITIS and the Sri Lanka Cricket Board.
Omentra.com also bagged second place at INFOTEL 2017 and emerged the finalist at ‘Seedstars’, the world’s biggest start-up competition for emerging markets, with over 60 participating countries.
In the short time span of one year, having clearly sealed their position as a leading mover and shaker in the market, and one that is clearly on the right road to becoming the best-in-class procurement vendor in the country, a new Head of Operations has also been brought on board to steer the course of the company as they step into their second year of operation.
Akmal Latiff, qualified in Management and Marketing, currently pursuing his Masters and armed with immense experience in Corporate Sales, Marketing and Business Development, had this to say: “All our achievements over the past year clearly states that Omentra.com is not just an experiment, but is here to stay for the long haul. The future road map has never been more exhilarating, and we’ve identified some exciting new opportunities to enhance our offerings. We look forward to working together with buyers and suppliers to make our second year an even better one, with the commitment of our young and vibrant team members”.