Having facilitated trade among a network of more than 2,00,000 approved buyers from 65 nations, we have achieved remarkable goals in 4 years by eradicating all the pain points of the present domestic and international B2B platforms, where a seller needs to chase and constantly contact several buyers every day and vice-versa, Arora said.Initially, Tradologie had decided to test the technology in the traditional construction sector, which was later enhanced to international scale with agricultural commodities like rice, wheat, sugar, pulses and onion.

Tradologie, a business-to-business (B2B) trade and smart digital global sourcing platform, on Thursday said it is planning to foray into Europe and trade in euro currency by the end of ongoing financial year.

The company is a one-stop shop for sourcing agri and construction related commodities from India and across the world.

After launching two platforms, that is in rupees for domestic trade and the US dollar for global trade, Tradologie said it will soon launch another platform to facilitate euro trade which will give benefit of technology to European Union (EU) region and help it expand overseas by the end of 2020-21, the company said in a statement.

Along with this, Tradologie is also planning to introduce an easy payment solution for traders, who were severely affected by global economic slowdown.

"With foray in Europe, we will be able to rope in a majority of buyers and government procurement departments in the EU by providing them an alternative to the time consuming and costly tendering system, which narrows their reach to a few global conglomerates," J K Arora, chairman and founder of Tradologie, said.

"We aim to provide equal representation to the small and medium organizations in the EU region...and connect them with global buyers using the global platform being run by Tradologie," Arora added.

Tradologie acts as a direct interface between buyers and sellers, and provides enquiry for payment (end-to-end) solution.

"Having facilitated trade among a network of more than 2,00,000 approved buyers from 65 nations, we have achieved remarkable goals in 4 years by eradicating all the pain points of the present domestic and international B2B platforms, where a seller needs to chase and constantly contact several buyers every day and vice-versa," Arora said.

Initially, Tradologie had decided to test the technology in the traditional construction sector, which was later enhanced to international scale with agricultural commodities like rice, wheat, sugar, pulses and onion.

"However, at present, its product line is being expanded to add solutions for cotton and meat products segment, which is fulfilling the needs of many buyers on a global scale amid lockdown.

"We have outnumbered many global trade giants like Alibaba, by working at a current trade rate of 1 billion per month, and on target to achieve 2 billion business per month in the next 6 months with present resources," Arora claimed.

Tradologie provides a fair and convenient online platform which brings wholesale buyers in direct contact with producers and manufacturers of commodities, where a genuine price discovery can be attained in real-time.

Both buyers and sellers pay a small fee once a transaction is made to Tradologie, the statement added.
Source link: https://www.devdiscourse.com/article/business/1373808-tradologie-to-launch-platform-to-facilitate-euro-trade-by-end-of-fy21