( George Mason University – MS 2006 ; Vasavi College of Engineering, Osmania University – B.E. 2005)
( University of East London – MBA 2007; Vasavi College of Engineering, Osmania University – B.E 2005)
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Anyrequirement.com is an online vendor database , which helps companies pick the lowest prices of front-end office commodities in the market with transparency (currently in Hyderabad, India only).
When most of their classmates were queuing up at campus interviews in hopes of getting jobs with some top-notch companies, Sailesh Sigatapu and Aditya Reddy chose to give them a skip. While in their final year of engineering at Vasavi College of Engineering, the duo were driven by mere confidence and were sure that they could build a great business model and run it successfully. As a result, anyrequirement.com was born in February 2011.
Reddy, who had already had experience in the field, brought his expertise to the website. Before launching anyrequirement.com, he was COO of Aquafina’s Hyderabad franchisee. He knew the difficulties corporates face while procuring different front-end commodities for offices — be it a mineral water, cab services or office stationary. Besides, vendors can play around with prices and corporates are not always aware of the lowest benchmark price of any given product or service that they require. Even if they want to switch vendors finding them is not just hard, but also a long and complex process. That’s when Sailesh Sigatapu and Aditya Reddy decided to build a vendor database and offer products to corporates at the lowest prices in the market with complete transparency.
Anyrequirement.com requests for quotations on various products and services from prominent vendors in the City. All quotations are consolidated in one page and provided in a self-explained format containing details, pricing, product or service description and reviews. This does not necessarily bring transparency in the process, but it does reduce purchasing costs by providing a wider choice of vendors for the corporate to choose from. It also simplifies and quickens the vendor selection method.
But like with all businesses, founders faced some challenges. They initially started with Rs.25 lakh and the business absorbed Rs.1.25 core investments. The idea was to convince vendors from different categories and bring them on board. They hired around 10 sales people for this purpose. However, these people simply registered companies by getting information from various sources and not by actually meeting and convincing them. That delayed the whole launch by about four months. Some of the procurement managers who they met did not back the business idea as they thought it would put their jobs at stake. Some did not even use the website initially. The duo was also not sure if corporates would pay for the services they offer even when they saw the huge savings from the model. However, the ITSAP award for Best Start-up Under Software Product in 2012 gave a major boost to the business and brought it closer to the IT companies. Over time, the business got 30 paid corporates to avail its services. Currently their model is working in Hyderabad city only.
Anyrequirement.com awarded Best Software Product under Startup – Enterprise Solutions (Early Stage) category at Advantage AP 2012 annual IT & ITES summit held at HICC, Hyderabad on 21, 22 June 2012.
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