Industry

Information Technology & Services

Key Apps

Magnasoft

Magnasoft operates globally with a presence in India, the UK, and the USA, and has strategically positioned delivery centers across India. The company specializes in geo-spatial data and services, offering solutions for various industries such as:

  • Urban mapping
  • GIS-based engineering services
  • LiDAR services
  • Geo-analytics
  • Remote sensing
  • Geo-spatial consulting

Their core offering is making complex geo-spatial data simple, accessible, and easily usable for their customers. Nexivo assisted in the development of a solution in Zoho Creator, which now handles the company's end-to-end procurement management process for vendors and purchases.

Magnasoft's Global Presence and Expertise
Magnasoft is a leader in providing digital geo-spatial information and services. They employ advanced data processing techniques to capture and display large amounts of geo-spatial data in a form that is easily understood by their customers. These customers include:

  • Fortune 500 companies
  • Government agencies
  • Nonprofit organizations

Magnasoft’s services are employed across a wide range of industries, including:

  • Automotive
  • Architecture
  • Hi-tech
  • Engineering and construction
  • Government
  • Utilities
  • Forestry
  • Oil and gas
  • Transportation
  • Mining

Company Profile
Magnasoft Consulting India Private Limited was privately incorporated on March 24, 2000, in India. It is classified as a non-government company and is registered at the Registrar of Companies in Bangalore. The company has:

  • Authorized share capital: Rs. 100,000,000
  • Paid-up capital: Rs. 54,318,280

In addition to its core services, Magnasoft is also involved in various business activities, including:

  • Legal services
  • Accounting, bookkeeping, and auditing
  • Tax consulting
  • Market research
  • Public opinion polling
  • Business and management consulting

Magnasoft has a global presence, serving a wide array of clients across different industries.

The Challenge

Challenges and Improvements in Vendor and Purchasing Management

  • Managing vendors and purchasing became more challenging as the number of vendors increased.
  • Improving the purchase process transparency was crucial to ensure clearer operations and better decision-making.
  • The application needed to manage vendor onboarding, purchase orders (POs), and invoices efficiently.

The Solution

The Magnasoft team was able to:

  • Recruit vendors
  • Perform vendor profiling
  • Document and raise RFPs (Request for Proposals)
  • Shortlist RFPs
  • Release Purchase Orders (POs)
  • Handle financial controls

This was all made possible thanks to the end-to-end procurement solution they built.

Benefits and ROI

There has been a reduction of more than 70% in the time required for organizing procurement prior to the application.

  • Every data point is now moving along with various controls and approvals within the system.
  • This helps the Magnasoft team track vendor efficiency and cost.

Looking Forward

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