Jaipur, June 2022.
Bengaluru based startup, Sourcewiz today announced a collaboration with Garment Exporters Association of Rajasthan (GEAR) for the digital transformation of exporters in Rajasthan. The startup had raised $3M from major investors like AWI, Blume ventures and angel investors and is in talks to close the next round of funding. This collaboration also marks the official launch of Sourcewiz in the state. The startup has set up operations in Jaipur & Jodhpur in the state.
The partnership will help Garments exporters in Rajasthan to transform their pre-sales processes by managing products and creating virtual storefronts on Sourcewiz platform. The platform uses an AI-based recommendation engine and smart filters that enable exporters to create curated and targeted product catalogues for buyers across the globe.
Commenting on the strategic partnership, Divyaanshu, CEO& Co-Founder, of Sourcewiz said, “We are very excited to partner with GEAR for our official launch. In the past few months, we have partnered with over 200 exporters across 3 countries, helped them grow their business by >10% and improved their sales efficiency by 50%. We are extremely happy to extend our products to garment exporters in Rajasthan. We are creating an ecosystem of services for Indian exporters that helps them increase their sales and factory efficiency, grow their buyer base as well as streamline their raw material sourcing. Moreover, we are now helping some of our exporters find new buyers in the UAE and GCC region through our upcoming Abu Dhabi office.
We have only achieved 1% of our goal so far but the GEAR partnership helps us move close to our mission of empowering Indian exporters ”
He further added “This is a vital launch of Sourcewiz in Rajasthan and we’re looking forward to onboarding as many forward-looking exporters as possible. As a customer-obsessed company, we have a huge range of services plan that will help Indian exporters compete on a global stage”
Speaking about the partnership, GEAR president Vimal Shah said, “We are happy to work with Sourcewiz in our endeavour to transform the Garment Industry in Rajasthan. This collaboration will address the strong emerging demand of exporters wherein they will get all industry-specific and customized features and also could easily manage functionality timely and support systems that are critical to their businesses. We are very much sure that this partnership will definitely benefit the exporters in Rajasthan and will help them expand access to other parts of the country and the world.”
Through Sourcewiz, exporters can create a password-protected virtual store that allows them to carry all their products with them to tradeshows or to buyer meetings. Using the software, exporters can create quotes and catalogues in <20 mins, a process that sometimes takes days. Using the platform, exporters were able to reduce their response time to buyers by more than 90% to <4 hours.
Sourcewiz platform is also powered by a world-class analytics engine which helps exporters track engagement on catalogues. With the platform, exporters can track the effectiveness of their digital campaigns via the catalogues analytics engine. As part of the set of services, Sourcewiz offers a search engine optimized website for exporters to enhance their digital presence.
Many exporters find onboarding to a new system a challenging overhead. To help exporters onboard smoothly to the platform, Sourcewiz offers onboarding services that help exporters migrate their operations to the new digital ways without hassle. Sourcewiz has reduced the onboarding time to weeks which is usually 6 to 12 months for other SaaS platforms.
In the next 3 months, Sourcewiz is adding to its product portfolio new innovative products and services that will increase sales efficiency, simplify workflows and add new sales channels - so that exporters are empowered to focus on manufacturing world-class products & grow faster.
Sourcewiz has central offices in is Gurugram and Bengaluru, while the sales team is distributed across all major exporthubs of India including Jaipur, Jodhpur, Moradabad, Panipat, Agra, Firozabad, Delhi NCR, Tirupur, Karur, Bhadohi, Mumbai among others. The startup is opening its first office outside India in Abu Dhabi in the coming months.