Virtual Session on ‘Success on GeM for Women Entrepreneurs’

FLO Chennai teamed up with FLO Delhi to organize an enlightening masterclass on next-generation public procurement, centered around the topic ‘Success on GeM for Women Entrepreneurs: Compliance and Tech Winning Strategies,’ with Mr. Prashant Gogia as the keynote speaker. This event aimed to provide participants with valuable insights into navigating the Government e-Marketplace (GeM), emphasizing the importance of compliance and the latest technological strategies to ensure success.

Mr. Prashant Gogia is renowned for his proficiency in business leadership, entrepreneurship, and public procurement. Holding the position of COO at Paras Enterprises and founding Startup India, he has been instrumental in driving innovation and nurturing entrepreneurship within India’s startup landscape.

The masterclass session was comprehensive and insightful, covering the following key areas:
Evolution of GeM: An overview of the Government e-Marketplace’s development and its current impact on public procurement.

Journey from 0 to 4 Crores: Practical steps and strategies for scaling business transactions on the GeM platform.
Analytics: Leveraging data and analytics to enhance decision-making and improve procurement outcomes.
Vendor Assessment: Mr. Gogia explained the critical criteria and processes involved in becoming a verified vendor on GeM. This includes evaluating the vendor’s financial stability, past performance, compliance with statutory requirements, and adherence to quality standards. He also highlighted the importance of maintaining a good track record and the benefits of having a high vendor rating, which can significantly enhance a vendor’s credibility and increase their chances of winning contracts.

Various E-Procurement Methods: The session explored different methods and approaches for effective e-procurement. This includes open tenders, limited tenders, and two-stage bidding processes. Mr. Gogia discussed the advantages and disadvantages of each method, providing practical advice on when and how to use them effectively. He also covered the importance of understanding e-auctions and reverse auctions, which can help vendors secure better deals.

Filter-Based Tender Alerts: Utilizing filter-based alerts to stay informed about relevant tenders and opportunities. Mr. Gogia demonstrated how to set up customized alerts based on specific criteria such as product categories, location, and government department. This ensures that vendors receive timely notifications about new tenders that match their business profile, allowing them to respond quickly and efficiently.

Government Schemes and Incentives for Women Entrepreneurs: Mr. Gogia highlighted key government initiatives such as SEVA (Social Empowerment through Virtual Academy), SWAYATT (Startups, Women and Youth Advantage Through eTransactions), and Womaniya. These programs offer various forms of support, including training, financial incentives, and mentorship, specifically designed to empower women entrepreneurs and help them succeed on platforms like GeM.

Original Equipment Manufacturers (OEMs): Mr. Gogia discussed the importance of OEMs in the procurement process, emphasizing how businesses can collaborate with OEMs to ensure the supply of high-quality products.

Consignee and Forwarding Agents (CFA): He also touched on the role of CFAs in logistics and supply chain management, explaining how effective coordination with CFAs can streamline product delivery and fulfillment.

Product Listing and Quadrant Policing: Mr. Gogia provided detailed guidance on listing products on GeM, including tips on writing effective product descriptions and using high-quality images. He also introduced the concept of quadrant policing, which involves monitoring and managing product listings to ensure compliance with GeM standards and to maintain a competitive edge.

E-Procurement: In addition to the specific e-procurement methods discussed earlier, Mr. Gogia delved into the broader aspects of e-procurement. He highlighted the benefits of digital procurement processes, such as increased efficiency, transparency, and cost savings. E-procurement systems streamline the procurement cycle, from requisition to payment, by automating workflows and facilitating electronic transactions. Mr. Gogia also discussed the integration of e-procurement systems with existing enterprise resource planning (ERP) systems, which enhances data accuracy and enables real-time tracking of procurement activities. Furthermore, he pointed out future trends in e-procurement technology, such as the use of artificial intelligence (AI) for predictive analytics and blockchain for ensuring secure and transparent transactions.

Product Bundling and Pricing (PBP): Mr. Gogia explained the concept of Product Bundling and Pricing strategies on GeM. Product bundling involves offering a set of related products or services as a single combined package, which can provide better value to customers and increase sales volume. He discussed how to effectively price bundled products to attract more buyers while ensuring profitability. This includes analyzing customer needs, competitive pricing, and leveraging analytics to determine the optimal bundling strategy.

How to Register on GeM: A step-by-step guide to registering and setting up a business on the GeM platform. Mr. Gogia walked participants through the entire registration process, from creating an account to completing the necessary documentation and verification procedures. He emphasized the importance of accuracy and completeness in the registration process to avoid delays and rejections.

The event concluded with an interactive Q&A session, where participants had the opportunity to address their specific concerns and receive expert advice from Mr. Gogia. This session provided valuable clarifications and personalized guidance, ensuring that attendees left with a clear understanding of how to leverage GeM for their business success.

Number of people impacted: Among 60 attendees 50 were women