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SignCatch, a prominent retail technology firm, and Rapidor, a platform that enables business-to-business (B2B) trade and transactions, completed the first B2B transaction on the Open Network for Digital Commerce (ONDC) network.
SignCatch and Rapidor both have integrated their B2B buyer and seller platforms on ONDC, allowing for frictionless transactions between buyers and sellers.
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Through this collaboration, a SignCatch-enabled seller can easily receive orders from Rapidor’s B2B buyer platform, and vice versa. This streamlines the purchase process for both corporate buyers and sellers, improving the entire consumer experience.
Organic Diet & Herbal Products, a Delhi-based firm in herb-based organic products, was allowed into ONDC using SignCatch’s Bech. The app is an example of this synergy.
Following that, the firm received an order from Swabharat Stores, a Thane-based organization, via Rapidor’s B2B buyer platform Placeorder.com.
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Through Placeorder.com, ABAD Foods, a Kochi-based manufacturer and supplier of frozen food products, was brought onto ONDC.
They successfully obtained an order from Lulu International Shopping Mall in Bengaluru Using SignCatch’s B2B buyer platform OrderDe.com.
Several additional MSMEs, like Jaipur’s Laxmi Bhog and Tirupur’s Red Zone, have accepted and fulfilled B2B orders via the ONDC network.
It’s been an exhilarating journey to witness the development of ONDC’s B2B transaction, which embarked on last year by bringing SignCatch and Rapidor on board to lead the B2B enablement,” says T Koshy, CEO, and MD of ONDC.
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While the B2C aspect of our network has already gained traction, the B2B market is more complex and necessitates a thorough understanding of the Indian trade ecosystem.
We are delighted to have SignCatch and Rapidor leading the way in this underdeveloped industry, which has immense growth and development potential.”
This transaction is the result of teams’ efforts for working closely with the ONDC team, and marks the beginning of a new era in B2B trade,” says Sumit Duggal, Founder and CEO of SignCatch.
Businesses from MSMEs to major corporations would be able to conduct B2B commerce and have many more chances to do business by using the ONDC network’s safe and transparent platform.”
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This achievement reflects our teams’ hard work and our customers’ readiness to grow on the ONDC,” says Thomson Skariah, Founder and CEO of Rapidor.
It heralds a new era of business-to-business trading, and we believe the emerging ONDC standards will provide benefits and unequaled advantages to SMEs across the board.”
ONDC currently sees an eCommerce order volume of more than 25,000 orders per day, up from 50 per day in January. Furthermore, as per ONDC, the network now includes over 35,000 retail retailers, up from around 800 in January.
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ONDC is a Section 8 business founded in December 2021 by the Ministry of Commerce’s Department of Promotion of Industry and Internal Trade (DPIIT). It aspires to provide a facilitative paradigm to change digital commerce, fostering increased retail eCommerce penetration in India.
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