Vice President - Supplier Solutions GT Nexus
Which are the most pressing market problems today, and how does GT Nexus help address these?
Some of the common problems we see factories/vendors facing is the access to capital. With tightening margins, long payment terms and limited access to credit, capital has been a pressing issue for most vendors. GT Nexus has helped to add value by offering different forms of accessing capital via the platform from leading financial institutions. Most importantly, it has helped vendors obtain quick access to cash without a hassle of collateral/credit limit.
8. When it comes to the use of latest technology like cloud platform, it is assumed that it would be more commonly used in advanced countries. Is this true? Please explain with GT Nexus' example.
This is not true. A good example is a leading brand on our platform for which a vendor based in Pakistan manufactures footballs. This vendor is based in the remotest of areas where there is no internet access. The user travels to the city to download the POs and after manufacturing/shipping, travels back to the city to submit the invoice on our platform for payment. This is a good example of how GT Nexus is used in countries where technology is still growing. We have over 1000+ factories on the GT Nexus platform in South Asia. Most of these factories are based in remote areas, transacting with several buyers around the globe on the GT Nexus platform. Technology like GT Nexus breaks down competitive barriers and enables vendors in any country to plug in to the global supply chain. This is another reminder of the importance of continuously evolving in a competitive market place.
GT Nexus's commitment to long term success relies on a global network of customer support professionals who ensure all users in the network operate at optimal productivity. From solution training, to simple issues, to complex challenges, users across the network rely on our professionals who not only understand our solution in depth, but are able to support when and how it's expected, in different languages.
In terms of geographies, what is the reach of GT Nexus cloud-based collaboration platform? In which countries do you foresee growth for your technology in the coming years?
Predominantly our brand and retail customers are US based however we have seen new brands joining the platform in Europe as well. In terms of factories, there are more than 20,000 spread across Asia, Africa & Eastern Europe.
The textile and apparel industry is gradually shifting from China to other parts of Asia. Is this trend also visible in GT Nexus' business from the textile and apparel industry?
China still continues to be dominant however we have seen an increase of orders to Bangladesh, Pakistan and India. Sri Lanka continues to be a force in the market for value added products. Most business have started investing in Africa.
What kind of market penetration has GT Nexus achieved in Middle East? At what rate do you expect it to grow?
Middle East is a growing market. We have a number of vendors/suppliers in the Middle East working via the GT Nexus platform and accessing capital from our wide range of financing partners.