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Business EconomyPosted at: Sep 19 2017 11:14PM


Acads360 to expand its net work to Bangalore soon: Nitesh Reddy

(Rptg, correcting year in para 3)
Hyderabad, Sep 19 (UNI) City-based Acads 360 India Private limited Founder and CEO Nitesh Reddy today said that the company will expand its network to Bangalore in November this year and further to Pune and Chennai in the subsequent months.
Talking to newsmen here, Mr Reddy along with company Co-Founder and CMO Ravi Kumar said that the company was launched in 2015 by a team of young innovators, alumni institutions like IITs, IIMs and BITS.
Speaking on its highly innovative and disruptive e-procurement product PRM360 which had been launched in November 2016, Mr Reddy said that the user friendly PRM360 was designed to effectively select vendors, effortlessly post requirements, efficiently evaluate vendor’s technical and commercial offerings. “The seamless integration of PRM360 and customization as per client’s needs can ensure 15 per cent net saving on account of online bidding and over 70 per cent savings on man hours due to auto-quotation follow ups and comparison of the quotes. It brings in several advantages for an organization like savings on expenditure and transparency in procurement cycle”, he said.
While claiming it was first of its kind in India, the Company CEO said that during the pilot phase, PRM360 had saved Rs 4.96 crore on a transaction turnover of Rs 54.12 crore for the 126 clients. The average turnaround time for these transactions was a dismal 27.3 hours.
He said that the company is planning to expand its net work to 10 cities by the end of 2018. The head count also increased to 100 from present 26. The clients also targetted to 500 from the present 127 during the same period. The majority of clients are pharma, energy and hospitals, he added.
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