Below mentioned are the Shortlisted Categories of potential Partners who can get onboard DEVAMUDRAM as Strategic Partners or Strategic Investors or both. The Shortlist is followed by a list of 20 Reasons as to why Strategic Partners and Strategic Investors should get onboard DEVAMUDRAM:
It becomes essential to onboard certified, reputed and genuine Gold Mines as Partners in order to secure a direct sales channel and gain market insights. Gold Mines can act as key Suppliers, ensuring a steady flow of Bullion to the Online Marketplace through their authorised Mints, Refineries and Dealers
By teaming up, not only will the Gold Mines be able to add a revenue stream, they will also be able to increase their productivity and market share by getting real time data on market trends. The insights into real time market trends and pricing may help them adjust production, pricing and sales strategies
It becomes essential to onboard certified, reputed and genuine Gold Mints and Gold Refineries as Partners as they can provide high-end and certified Bullion products, which will ensure quality and authenticity to the Buyers
In addition to streamlining their Distribution and increasing their Market access by getting onboard, the potential prominent placement, featured listings and branding opportunities on the Online Marketplace can help Gold Mints and Gold Refineries enhance their brand visibility and credibility in the Market
It becomes essential to onboard reputed and genuine Gold Dealers as Partners, as they can offer competitive and transparent pricing of Bullion through real-time comparison. Transparent pricing and a wide customer base can drive higher sales and increase market share
Not only will getting onboard the Online Marketplace help Gold Dealers simplify their sales process, it can also offer them access to a larger customer base. It will also help them simplify inventory management and transactions
It is essential to onboard reputed and genuine Venture Capital and Angel Investors as Partners, as they can offer the capital needed for development, marketing, and scaling of the Online Marketplace. They can also offer their expertise and connections to accelerate growth and development
While most of the VCs and Investors focus on Exit Strategies, such as Acquisition or IPO, to reassure Investors about their investment’s future, with the Online Marketplace it will be a different scenario as it shall strive to offer regular revenue, market data and real time analytics. This is something they would probably not like to exit from
Tech Infrastructure Companies can provide the necessary technology infrastructure for Platform development and maintenance. They can also help implement cutting-edge solutions for scalability, security, and performance
In addition to the obvious additional revenue generation opportunity, Tech Infrastructure Companies should consider getting onboard as they shall get a chance to work on innovative and high-impact initiative with future-technology
Think Tanks and Data Analytics Companies can help structure the framework of the Platform, shape market strategies, offer insights and analysis
They can also help in profiling, fraud detection, threat determination and threat assessment. They can also help in designing reward and loyalty programmes
Think Tanks and Data Analytics Companies should consider getting onboard as there is a potential for collaborative research on market trends and consumer behaviour
It is essential to onboard various Government Bodies as they can help in achieving the goals of Digital Transformation, Transparency, and Compliance. Their involvement will also ensure that the Platform meets all regulatory requirements and contributes to industry standards. Their involvement will make the coordination for Public Policy and Lobbying much easier and transparent. Government Bodies can also provide regulatory guidance and support for Public-Private Partnerships
Government Bodies may consider Public-Private Partnerships because not only can this Platform help in digitising the entire Bullion Sales Process in the B2B segment, it can also help in achieving the goals of Transparency and Compliance in the Domestic Market. Since it is a Marketplace, the Government won’t be favouriting any particular Bullion Dealer. Everyone who is authorised, will be welcome to get onboard. Involvement of Government Bodies will also help yield economic benefits, such as job creation and market efficiency
Reliable and genuine Logistics Companies are required to be onboarded / formulated as they can securely and efficiently handle the transport of Bullion
Secure logistics solutions are required for high-value products. Services of reliable and genuine Logistics Companies can enhance the Marketplace’s reliability
Their involvement is also required in order to integrate logistics solutions directly into the Platform for seamless operations, security protocols and cost reduction
Logistics Companies should consider getting onboard as they shall be able to increase the volume of the shipment and streamline the logistics processes
Reliable and genuine Payment Processors are required for availing seamless payment solutions for volume-based transactions. They are also required so that customised Accounts and special charges can be facilitated for the extremely low margin but extremely high turnover Bullion Business. Integration of Special Digital Wallets and multiple payment options will also need to be offered to the Users of the Platform
Payment Processors in return can get access to a large User base for their Services. They can also get an opportunity to explore and launch new and innovative Digital Payment Solutions for the Gems and Jewellery Sector. This in return can also help them get real time payment analytics of the Gems and Jewellery Sector
Reliable Banks are required as Partners for integration of banking services for secure and efficient payment systems which will enhance the reliability of the Platform
They are also required so that customised Accounts and special charges can be facilitated for the extremely low margin but extremely high turnover Bullion Business
By getting onboard, Banks can get access to potential transaction volumes, new transaction data and business opportunities
The list of 20 Reasons why the shortlisted Strategic Partners and Strategic Investors should consider getting onboard the initiative of DEVAMUDRAM:
1. Enhanced Transparency:
Centralises Bullion Prices from multiple Dealers, providing clear and consistent pricing information to Buyers
2. Price Discovery:
Facilitates Competitive Pricing and helps Buyers identify the best Rates by comparing offers from various Dealers
3. Informed Decision-Making:
Enables Buyers to make better and informed Purchasing decisions based on real-time data and comprehensive Price comparisons
4. Increased Market Reach:
Allows Dealers to reach a broader Audience across India
5. Efficient Transactions:
Streamlines the Buying and Selling process, reducing the time and effort required for Transactions
6. Reduced Transaction Costs:
Minimizes the Costs associated with finding and negotiating with multiple Dealers by consolidating options in one place
7. Standardisation:
Helps standardise Pricing and Product listings, reducing discrepancies and confusion in the Market
8. Access to Data Insights:
Provides valuable Market Insights and Trends
9. Improved Compliance:
Supports adherence to Industry Regulations and Standards, fostering a more Compliant and Secure Market Environment
10. Enhanced Security:
Implements robust security measures to protect high-value Transactions and sensitive Data
11. Streamlined Logistics:
Simplifies the logistics of Buying and Selling Bullion by integrating with Logistics Partners for efficient delivery
12. Increased Competition:
Encourages fair competition among Dealers, potentially leading to better prices and services for Buyers
13. Scalability:
Allows for future expansion into International Markets, leveraging the platform's scalability to accommodate growth
14. Data-Driven Decisions:
Utilises analytics and reporting tools to help Dealers and Buyers make data-driven decisions
15. Enhanced Buyer Confidence:
Builds Trust and Confidence among Buyers through transparency and the ability to verify Dealer credibility
16. Customization Options:
Offers customisation features for Dealers to showcase their products and pricing according to their preferences
17. Simplified Onboarding:
Provides an easy and straightforward onboarding process for Dealers, making it accessible for new and existing Businesses
18. Market Efficiency:
Reduces inefficiencies in the Bullion Market by providing a centralised platform for Price Comparison and Transaction Management
19. Public-Private Partnerships:
Potential for collaboration with Government Bodies to promote market integrity and transparency, benefiting the broader Economy
20. Innovation Leadership:
Acting as The Leader in Digital Transformation within the Bullion Market, setting new Standards for Industry Practices