Bigbasket enters enterprise SaaS business with a supply-chain management platform

At a time when more and more businesses are exploring ways to enter the e-commerce space, online grocery platform Bigbasket announced on Thursday its foray into enterprise Software-as-a-Service (SaaS) business with the launch of its supply-chain management platform BB Matrix.

The new platform aims to help new and existing e-commerce firms manage their supply chains and operations, the Tata Digital-owned company said in a statement.

Founded in 2011, Bigbasket was acquired by the Tata Group in May 2021 as part of its omni-channel consumer business. BB Matrix, led by Co-founder and CEO of Bigbasket, Hari Menon, and Chief Product and Technology Officer at Bigbasket, Rakshit Daga, claims to reduce transportation costs by nearly 50%, lowering the lead time by around 60% and ensures 100% supply chain visibility.

“To cater to the pressing demand for agile, robust, and cost-efficient supply chains, we have made BB Matrix available to enterprises across different sectors that go beyond retail and e-commerce, like manufacturing, automobiles, aviation, consumer goods, etc.,” Daga, Chief product and technology officer & Head of SaaS Business, Bigbasket, said.

He added that with the new vertical, Bigbasket plans to offer three SaaS products—a warehouse management system, a transportation management system and an order management system.

The company running a pilot, until its official launch, claimed that it had clocked gross revenue worth $1 million, in FY24. The company also said that it plans to acquire customers both in India and international markets like the US, Middle East, SEA, and Africa regions as well.

Needless to mention, the global demand for SCM software is growing in the enterprise. According to a Gartner report, global annual SCM software spending will reach $62 billion in 2028, up from $29 billion in 2023, with a CAGR of 16.3%.

The company has been integrating AI-driven automation into almost all its operations for some time now. The BB Matrix provides ongoing support including configuration and optimisation, data integration with over 150 ERP, CRM, and POS tools, and migration as well to its customers.

It also helps in areas such as forecasting inventory, stock replenishment, storage, payments, delivery, or handling returns, the platform provides real-time updates. This will help CIOs make data-driven decisions, which is required to build resilient supply chain processes.

With this launch, Bigbasket joins a list of startups offering B2B SaaS solutions to expand revenues. Startups across sectors such as fintech and e-commerce are hitching on to SaaS product offerings to expand revenues. Razorpay and Cashfree have announced several SaaS products with generative AI features.

Revenue in the Indian SaaS market is projected to reach $3.40 billion in 2024, as per market research firm Statista. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 25.11%, resulting in a market volume of $10.42 billion by 2029. The average spend per employee in the SaaS market is projected to reach $6.24 in 2024.