Apollo Microsystems: Destroying Inefficiencies with Bizongo
Apollo Microsystems is a 38-year-old publicly-listed company that manufactures weapon system boards for the Government of India and private agencies.
𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐭𝐡𝐞𝐲 𝐟𝐚𝐜𝐞𝐝:
In a complex industry with extensive procurement requirements and manual processes, efficient procurement and availability of liquid funds have always been a challenge for Apollo Microsystems.
They struggled to manage their cash flows due to long process cycles for raw materials, production, cross-inspection, and post-delivery inspection.
Owing to these long inspection cycles, they were getting paid after a long gap of more than 180 days from the date of delivery to DRDO and other agencies. It was crucial for them to streamline their supply-side transactions with on-time payments to vendors.
𝐇𝐨𝐰 𝐰𝐞 𝐡𝐞𝐥𝐩𝐞𝐝:
Bizongo's single unified vendor digitization platform eased Apollo Microsystems' difficulties by automating vendor processes such as PO, invoicing, scheduling, etc. We also provided them access to supply chain financing from a network of financial institutions integrated on the platform. Apollo ensured that their vendors were onboarded on the platform to facilitate early payments to them, making their working capital stronger in a cost-effective way.
Additionally, with everything digital, Apollo saw their supply chain getting optimized for cost savings and profitability.
Watch Mr. Addepalli Krishna Sai Kumar (Director of Operations) and Mr. Sri Sailam (Purchase Head) explaining the change Bizongo brought to their business.