Bizongo Acquires FactoryPlus to Enable Plug-and-Play Digitization of MSME Factory Operations
Bizongo, India’s leading vendor-digitization platform has announced the acquisition of FactoryPlus, a factory digitization app for MSME factories. The acquisition comes on the heels of Bizongo’s vision to enable 'Business on the go' and provide MSMEs an avenue to embrace digitization through a user-friendly mobile solution. Vatsal Rustagi, Sparsh Koyarala, and Bikash Dash from FactoryPlus along with their team will be joining Bizongo.
Bizongo plans to integrate FactoryPlus’ mobile-first SaaS capabilities like factory inventory management, real-time raw material prices, news feed, and digital catalogs among others. Through this acquisition, the company will offer local manufacturers an AI-powered raw material procurement solution, which will enable them to source raw materials from the best vendors at the least possible costs. Further, Bizongo will also facilitate embedded financing on the go to help manufacturers combat delays in raw material procurement and supply chain challenges arising from blocked working capital.
While the manufacturing sector in India is expected to grow due to an increase in digital commerce, surging domestic consumption, China plus one opportunity, PLIs, and other favorable government reforms, these factors also bring some challenges. Manual factory operations, poor procurement of raw materials, lack of working capital, and irregular demand among others demonstrate the need for innovative digital solutions. With MSMEs increasingly hungry for growth, FactoryPlus’ mobile-friendly app will assist in rapidly digitizing their manufacturing operations without requiring substantial monetary and time investments.
Sachin Agrawal, Co-founder and CEO, Bizongo says, “In order to support MSMEs' ongoing success and expansion, it is crucial to address the critical issue of MSMEs' continued difficulty in embracing digital transformation. This is where technology plays a key role in driving the MSME sector forward."
"Digital processes and automated technologies are the need of the hour for vendors to thrive in an increasingly competitive landscape and this is a key step in that direction. With this acquisition of FactoryPlus, we aim to empower manufacturers with tailored solutions, such as digital raw material consolidation and embedded financing that can be seamlessly integrated into their supply chain and help them contribute to the country’s economic future” adds Agrawal.
Vatsal Rustagi, Co-founder and CEO, FactoryPlus says, “Building FactoryPlus has been an exciting journey for us. Our product is being used as a daily driver for manufacturing operations by multiple stakeholders in factories across India. Integration with an industry leader like Bizongo will help take this idea to new heights and help unleash technology-led efficiency inside the factories and build data-driven industrial supply chains.”