Larsen & Toubro, an Indian multinational engaged in EPC projects, hi-tech manufacturing and services, today announced the launch of L&T-SuFin, an integrated e-commerce platformfor B2B industrial products and services.
Drawing on its rich experience of over 80 years, with the trust of the nation asits core strength, L&T viathis B2B e-commerce platform is poised to empower businesses, especially MSMEs, to enable them source their industrial supplies pan- India, digitally and cost-effectively.
The Indian manufacturing ecosystem has beenfacing significant inefficiencies in the industrial supply chains, relying heavilyon resources such as B2B directories- digital or otherwise – to fulfillMSME’s sourcing needs. These traditional supply chain issues have resulted in challenges in the domains of maintaining business continuity, revenue or inventory optimisation and manpower deployment.
With digital technologies at the core, L&T-SuFIn is poised to transform Indian business landscape, leading to the formalization of the traditional supply chains and creating a win- win situation for suppliers andbuyers .Built to provide greater transparency and wider market access, L&T-SuFinmarks another chapter in the expansion of L&T as a digital powerhouse after it launched L&T EduTech, an ed-tech platform for bolstering engineering and technology knowledge, last year.
SN Subrahmanyan (SNS), CEO & MD, L&T, said, “As India aspires to become a $5 trillion economy, there lies a critical need to digitalize supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises. With the launch of L&T-SuFin, we take yet another leap in our digital transformation journey, building on our legacy of trust and deep understanding of the ecosystem.”
“We are confidentabout L&T-SuFin transforming the B2B marketplace for industrial products.Making it easily accessible, convenient, and transparent, even for the customers in and beyond tier-1 and tier-2 cities, thereby enabling a level playing field and inclusive growth for all businesses.”
L&T-SuFinhosts a vast selection of industrial products across 40+ categories as well asfinancing and logistics support from carefully vetted partners.For sellers, L&T-SuFin is an opportunity to broaden their markets like never before. The platform is designed to reach out to buyers across categories and pan India geographies. It will enable businesses by providing them with a complete ecosystem of seller tools, delivery, and negotiations on a single platform.
Designed to be highly secure platform, L&T-SuFin will host KYC-verified sellers and buyers vettedby L&T and guarantee a last-mile delivery to over 15,000 pin codes. The platform willprovide working capital to MSMEsfrom a large array of banks and other financial institutions atattractive interest rates.The platform will also provide an online transaction facility for trading products and enabling services with a payment and settlement mechanism that will aid traditional enterprises to take on their newer digital-native competitors.