Serai continues strong growth in Bangladesh

Staff Correspondent

9 May, 2021 12:00 AM printer

Serai continues strong growth in Bangladesh

Serai, the digital B2B platform by HSBC, has onboarded over 700 Bangladeshi manufacturers including Viyellatex, DBL group and Envoy Textiles since launching in the country at the end of 2020.

Through a free digital profile building initiative, Serai has managed to strengthen the digital presence of Bangladeshi manufacturers and suppliers and connect them to international buyers at a time when travel is near impossible, said a press release on Saturday.

“Serai has helped DBL to connect with new buyers, brands and suppliers virtually to explore a new horizon of opportunities. It has also enabled DBL to exhibit our products and services, achievements, certifications to its stakeholders in a very effective and efficient manner,” said DBL Textiles Managing Director MA Jabbar.

Serai currently has over 4,600 companies from over 80 countries including Australia, USA, UK and other European countries, which heavily rely on RMG imports. 

Serai CEO Vivek Ramachandran said that Serai is helping Bangladeshi manufacturers establish a stronger, more productive online presence at a time when its value is immediate.

The RMG sector in Bangladesh has embraced this opportunity to digitise, seek new business opportunities and build fruitful relationships with foreign buyers, Vivek Ramachandran added.

Serai CEO said, “Our constant innovation improves the trade experience on all sides of the apparel supply chain even more as we continue adding solutions to the platform to meet the ever-changing requirements of the apparel industry.”

Serai recently launched an end-to-end supply chain traceability solution which helps businesses build supply chain visibility, trace cotton and raw material origins, and track ESG commitments.

In addition, businesses can manage counter-party risk through various risk assessment solutions offered on the platform.

Another new feature allows buyers to upload their requests for quotations (RFQs). Manufacturers and suppliers can now access and respond to new RFQs, enabling new business opportunities and product diversification while buyers can choose suppliers that best suit their needs.

In a time of great competition and changing partnership dynamics, this is a valuable service for all stakeholders in the supply chain.

To further improve the connectivity of the Serai platform, the platform’s search and connect functionality has been enhanced.

The search option can filter prospects by location, business type and degree of connection, allowing users to find and connect with specific types of potential business partners including, brands, sourcing agents, manufacturers, distributors, retailers, and more.

Envoy Textiles Chairman Kutubuddin Ahmed said, “I believe that manufacturers need to keep up with the modern world. Platforms like Serai can help the RMG manufacturers in Bangladesh in saving expenses and time. Moreover, it’s totally free.”

Serai has been an effective conduit for industry players to forge new strategic relationships and make faster and better trade decisions, keeping up with the modern demands for digitisation and sustainability.