Helping Indian corporations deliver global growth, savings and increased profitability

LONDON - Tuesday, October 7th 2014 [ME NewsWire]

(BUSINESS WIRE) -- cloudBuy plc, the cloud eCommerce marketplace, has announced an MOU with SYNISE, a leading procurement service provider in India and part of the Kalyani group, to deliver a B2B eMarketplace and ‘Source India’ initiative in support of the Indian Government’s “Make in India” campaign.

cloudBuy’s partnership with SYNISE creates India’s leading marketplace, with 15,000 suppliers and over 80 large Indian corporates interacting with the sourcing platform, and is expected to generate over $2 billion of turnover.

Ashok Dani, CEO of SYNISE, commented: “The Gulf States are India’s largest trading partner and we have the largest group of vetted high quality Indian suppliers. We believe that there is immense potential in providing these suppliers with B2B eCommerce so that they can easily export to the world, at the same time as making their Indian business more efficient.”

Ronald Duncan, CIO and Chairman of cloudBuy, yesterday launched the platform at a ‘Peak Performance’ event held in Mumbai, in association with the UKTI. He will explained how cloudBuy can help provide 10x sales to Indian corporations and significant 10-20% increases in profitability through global eCommerce, highlighting examples of customers that have saved billions using the system.

Duncan commented: “One of the challenges with the ‘Make in India’ initiative is that it is a long term plan, and in the meantime Indian businesses need to compete within the current infrastructure and become more profitable. This is important so they have the resources to invest in the future infrastructure and factories required for ‘Make in India’ to succeed.

“cloudBuy has a proven track record of increasing global sales through eCommerce. Our partnership with SYNISE can help India realise its potential as one of the world’s leading economies and enable businesses to quickly expand, delivering immediate profitability and savings within their current infrastructure.”

About cloudBuy

cloudBuy, formerly @UK, is the world’s leading transactional Cloud Platform with over 1 million users. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading.

For more information on cloudBuy’s solutions, please visit www.cloudbuy.com.

Contacts

Say Communications

Robert Hickling/Geraldine Fernandez/Tim Jeffery, 020 8971 6400

cloudbuy@saycomms.co.uk

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