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Thursday , 15 November 2018
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Kobster, an India’s leading B2B e-procurement firm has tied up with an Invoice Discounting platform, Indifi Technologies. Through this collaboration, small and medium scale vendors can do good business with ease and their payments are made on-time without any credit timeline. And also, the corporates who procure for their needs get the goods delivered without any delay. B2B sector in India is growing rapidly as well as potential bound. B2B ecommerce players are looking forward to new arenas to overcome minor loops which they find as hurdles. This sector has its own specific industry needs. One such requirement is the flow of working capital with a demand in order as the credit period differs for Customers as well as vendors. With this requirement for working capital, Invoice Discounting companies like Indifi come into the picture. Indifi provides operating capital up to 90% on an immediate basis which in turn paid instantly to the suppliers through Kobster against the invoice the company raises on the customers’ orders. Suppliers can now sell their products to corporates through Kobster’s platform and get paid immediately skipping the risk of credit timelines. Invoice discounting is a modern day alternative to traditional business loans. This gives instant access to cash locked up in the outstanding invoices. Kobster helps both Corporates and Vendors with the related issues of On-time delivery and Credit payment sorted. This solution also helps to improve cash flows, avoid late payments as well as to keep up with seasonal demand. Speaking about the collaboration, Mr. Karthik Ramaiah, Co-founder, Kobster said, “We are glad to associate with Indifi Technologies. As B2B procurement industry demands a better cash flow, this new-age innovation comes as a pillar of strength for local vendors in India. Vendors can now do more business, needless to wait for a longtime to get their payments done. Similarly, Corporates can focus on their core job without fearing about the procurement process.” Credit concerns are huge when it comes to small vendors, who on account of the smaller scale of their businesses, cannot provide credit timelines like larger vendors. Due to this, they tend to get left out in the Corporate procurement chain that runs largely on credit. Kobster’s partnership with Indifi Technologies is a step towards inclusion of these small vendors into the procurement chain by ensuring steady cash flow for them. Kobster has previously tied-up with invoice discounting firms like Pincap and Kredx to bridge this gap between Corporates and Small Scale vendors. These companies offer invoice discounting feature through which corporate procurement orders are delivered on time and the local vendors across cities make a good business. Above all, Kobster promises a sustainable procurement by bringing in local vendors into the system which thereby resulting in the consumption of less fuel and hence reduces pollution in a bigger way. With such collaborations, Kobster has taken a step forward towards exploring innovations that pop-up in the B2B Procurement space. Kobster is also the pioneer to integrate e-procurement marketplace and last mile service to corporates in India by introducing an exclusive tool, Kobster Elite. It also helps local vendors to grow in their business with such collaborations. This turned out to be a boon for small and medium scale vendors in India.

Vodafone Idea Limited, the largest telecom service provider in India, today announced a partnership with Citibank offering a unique proposition to its post-paid customers. In a first-of-its-kind offer, Vodafone and Idea post-paid customers can avail up to 50% discount on their monthly rental bills. 

To avail this offer, a customer simply has toapply for a new Citibank credit card and spend just INR 4000 within 60 days of the card issuance. Vodafone and Idea customers using Vodafone Red or Idea Nirvana plans of INR 399 & higher can enjoy a value proposition of cashback worth INR 2400 for a year on their post-paid rentals. The cashback would be offered at a rate of Rs. 200 per month for 12 bills.

Vodafone and Idea post-paid customers can apply for the new CitiBank credit card via My Vodafone App/ My Idea App, Vodafone and Idea website or Citibank website to avail the cashback offer.

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