Magnasoft

Company Portfolio

Company Name

Magnasoft

Industry Vertical

                   Information Technology & Services

Location

    Denver, Colorado

Zoho Products Magnasoft

Executive Summary:

Magnasoft operates as a global company with a presence across India, the UK, and the USA. It has three strategically positioned delivery centers in India. The company specializes in delivering geo-spatial data and services for various industries, like urban mapping, GIS-based engineering services, LiDAR services, geo-analytics, remote sensing, and geo-spatial consulting. Their core offering is to make complex geospatial data simple, easily usable, and accessible for the customer. Nexivo assisted in developing a solution in Zoho Creator where end-to-end procurement management was being handled since Mangnasoft wanted to put a process in place for their vendors and purchases.

Introduction:

Magnasoft is a leading provider of digital geo-spatial information and services. They use advanced data processing techniques to capture and display large amounts of geo-spatial data in an easily understandable form for customers around the world, including Fortune 500 companies, government agencies, and nonprofit organizations. Their services are used in a wide range of industries, including automotive, architecture, hi-tech, engineering and construction, government, utilities, forestry, oil and gas, transportation, and mining.

The Business:

Magnasoft Consulting India Private Limited is a leading technology service provider that was privately incorporated in India on March 24, 2000. It is classified as a non-government company and is registered at the Registrar of Companies, Bangalore. It has an authorized share capital of Rs. 100,000,000 and a paid-up capital of Rs. 54,318,280. The company is involved in legal, accounting, bookkeeping, auditing activities, tax consulting, market research, public opinion polling, and business and management consulting. It has a global presence.

The Challenges:

● As the number increased, managing vendors and purchasing became more challenging.

● Improve the purchase process transparency.

● To be managed in the application are vendor onboarding, POs, and invoices.

Finding a solution:

The Magnasoft team was able to recruit vendors, perform vendor profiling, document, raise and shortlist RFPs, release POs, and handle financial controls thanks to the end-to-end procurement solution they built.

Implementation and Result:

There is a reduction of more than 70% time in terms of organizing a procurement prior to the application. Every data point is moving along with various controls and approvals within the system. It helps Magnasoft team to track vendor efficient and cost