BIDCHEMZ is transforming the chemical trade with its groundbreaking online B2B marketplace. The platform strengthens the resilience of all participants by simplifying supplier and buyer discovery while offering a suite of logistical and fintech solutions. By addressing the limitations of traditional trading practices—such as restricted access to vendors and buyers—BIDCHEMZ paves the way for a dynamic, inclusive marketplace. It connects participants with a wide array of offerings from diverse suppliers, logistics providers, and fintech enterprises, creating a more efficient and transparent ecosystem.
A key innovation lies in its secure credit line options, tailored for small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs). This approach ensures buyers gain access to verified suppliers and competitive pricing. Simultaneously, sellers unlock new opportunities by reaching buyers with genuine demands, facilitating the conversion of surplus inventory into revenue. This process not only boosts sales but also releases valuable working capital, enabling businesses to scale operations and enhance capacity.
In an exclusive conversation with The Interview World, Sanjay Dewan, Co-founder and CEO of BIDCHEMZ, elaborates on how the platform is disrupting the traditional chemical supply chain. Furthermore, he highlights its role in empowering buyers and sellers through digital discovery, emphasizes the significant cost savings it delivers, and shares his vision for revolutionizing the chemical industry in the long term. Here are the key takeaways from his insightful conversation.
Q: How is BIDCHEMZ tackling the key challenges faced by the chemical industry? Additionally, what innovative strategies or solutions do you implement to address these issues?
A: The chemical industry faces a critical challenge. Supply chains are crumbling under the combined pressures of the pandemic’s aftermath. Moreover, ongoing global conflicts and the accelerating impacts of climate change are deteriorating further. These disruptions have rapidly disconnected buyers and sellers, leaving many struggling to adapt.
To address this, BIDCHEMZ has introduced a groundbreaking solution by digitizing the B2B chemical trade for the first time. Traditionally, this trade relied heavily on face-to-face transactions. However, the sudden loss of supply or buyer bases has left countless businesses. Especially SMEs are vulnerable. Several businesses have also faced financial distress.
Through BIDCHEMZ’s digital platform, businesses can seamlessly connect with buyers or sellers with just a few clicks. This innovation enables companies to offload excess inventory, maintain uninterrupted supply chains, and significantly reduce downtime. By focusing more on production and less on logistical challenges, the industry can maximize capacity utilization. Ultimately, this benefits not only individual businesses but also contributes to the nation’s economic growth by optimizing industrial output.
Q: What percentage of logistical costs can your platform potentially reduce through its digital discovery and matchmaking capabilities?
A: At BIDCHEMZ, we’re not just reducing logistics costs—we’re also driving down transactional costs. In the chemical industry, raw materials represent the largest expense, making efficient buying and selling a critical factor for success. Our platform introduces a unique solution that allows buyers and sellers to transact online in real-time, negotiating prices through an innovative bidding process.
Once the price reaches a concurrence, the platform guides users to select logistics options. We display multiple choices with transparent pricing, enabling businesses to choose the most cost-effective option. Next, users can insure their goods on a warehouse-to-warehouse basis with just a click, ensuring seamless protection throughout the supply chain.
Credit, a vital component of the industry, is another area we’ve streamlined. We’ve partnered with leading escrow service providers to offer integrated credit solutions. After finalizing pricing, logistics, and insurance, users can apply for credit online by completing a simple KYC process. Upon approval, we grant credit, enabling businesses to complete their transactions effortlessly.
With just five clicks, goods are shipped with full payment security. Payments are held in escrow and released to the seller only after the buyer confirms within three days that the goods meet expectations. This ensures trust, transparency, and efficiency, empowering businesses to operate with confidence and ease.
Q: Is your platform currently focusing on domestic operations, or are there plans to expand internationally in the near future?
A: We have established operations across all four major quadrangle cities in India. Within the next two and a half to three years, we are poised to expand internationally. Our global footprint will span the Middle East, the United States, Australia, and Europe, marking a significant step in our growth journey.
Q: What is your organization’s long-term vision, and how do you plan to achieve it?
A: Our organization’s long-term vision is to revolutionize the chemical trade by bringing it entirely onto a digital platform. This seamless ecosystem will empower users to transact effortlessly across borders, accessing the best prices, optimal shipping rates, competitive credit terms, and comprehensive insurance options. By streamlining these processes, we aim to enhance efficiency across the industry.
A critical aspect of our platform addresses a universal challenge—ensuring uninterrupted access to raw materials. No business should face the nightmare of halting operations due to shortages. With just a few clicks, at any hour, users can locate and procure raw materials seamlessly. Additionally, for those not ready to transact extensively, our platform offers a transparent view of current market prices, enabling informed purchasing decisions with confidence.
We are committed to delivering end-to-end solutions tailored to the chemical industry, making trade smarter, faster, and more reliable than ever before.
Q: Has your organization set any specific revenue targets for the short term or long term, and what strategies are in place to achieve them?
Q: Yes, we have set a clear revenue target. The chemical industry in India is valued at approximately $300 billion, while the global market stands at $4.7 trillion. Traditionally, businesses pay a 3% commission. However, we plan to operate with just 1%. The potential for revenue growth is immense, and I’ll leave it to your imagination to envision the scale of what we’re aiming for.
