Hindustan Zinc launches Evolve – India’s first online buying platform for non-ferrous metals
A unique 3-click buying solution, with HZL’s pan-India presence supporting small buyers by improving their working capital cycle through Just In Time procurement
Mumbai; 7th October, 2020: Hindustan Zinc Limited (HZL) launched Evolve – India’s first online buying platform for non-ferrous metals. The Company trusted SAP to create a unique experience – integrating convenience, security and ease of access. Evolve is designed to offer a three-click buying experience for zinc, lead, silver and acid on a single platform based on real time pricing on LME/ LBMA. The buyers can opt for quantities as low as one tonne, which not only improve their working capital cycle but also enable smaller buyers to opt for premium quality at a significantly lower price.
Speaking on the launch, Arun Misra, CEO, Hindustan Zinc, said, At Hindustan Zinc, we have yet again embarked on a pioneering journey of using technology to revolutionize non-ferrous metal buying experience. EVOLVE stands for our vision to offer to our customers specially MSMEs a hassle-free experience of buying our product on line with convenience of smaller size of buy and dynamic pricing. In the sphere of On-Line shopping experience, EVOLVE will enable us to contribute immensely to the ecosystem of Aatmanirbhar Bharat.”
EVOLVE would also facilitate in creating a daily INR benchmark price in the Indian market. Besides, will offer integrated solutions including KYC for customer onboarding, GST integration, SAP integration for credit management and accounting, auto hedging (in collaboration with JP Morgan) as well as product management.
Commenting on the launch of the platform, Harsha Shetty, CMO, Hindustan Zinc “Evolve was born out of the philosophy of enabling metal buying in ‘three clicks’. This portal is aimed at MSMEs who can now get world class Digital store for buying metal in INR coupled with allied services (In Phase 2) of Micro credit, Micro Logistics, curated Technical services. This will reduce their cost of buying significantly and aids the competitiveness of MSMEs in India. The focus was to ensure higher uptime, coupled with faster loading times – resulting in a smoother experience.
We are proud to Go-Live on Evolve. Customers are delighted with the ease of buying- It’s a one of the Kind Online stores in the Non-Metals industry which is poised for Significant disruption sparked by evolve.”
Driven by the global shift to sustainable energy, volatile market conditions, and profit margin pressure, mining companies need to increase their operational efficiency and develop new services and business models to engage with communities, customers, buyers, and workers responsibly and sustainably.
Speaking at the launch, Kulmeet Bawa, President and Managing Director, SAP India, said, “We congratulate HZL on the launch of a world-class multicommodity metals & mining marketplace, powered by SAP Commerce Cloud. This responsive digital network will bring Communities and Buyers together on a single platform. HZL’s shift to redefine the industry by making their business more agile, collaborative and customer centric while mining responsibly and sustainably, is pathbreaking.”
With Commerce Cloud (Hybris), SAP’s market leading B2B and B2C commerce platform, their digital core on SAP ERP, SAP’s Business technology Platform all-together ensures Hindustan Zinc reviews seamless data flow while integrating with third party applications, like GSTN portal. GSTN portal integration qualifies only customers with active GST to purchase, resulting in ZERO fraudulent transactions.
About Hindustan Zinc
Hindustan Zinc, a Vedanta Group Company, is one of the world’s largest and India’s only integrated producer of Zinc-Lead and Silver. The Company has its Headquarter at Udaipur in the State of Rajasthan where it has its Zinc-Lead mines and smelting complexes. Hindustan Zinc is self-sufficient in power with captive thermal power plants and also has ventured into green energy by setting up wind power plants. The Company is ranked 1st in Asia-Pacific and globally 5th in Dow Jones Sustainability Index in 2019 amongst Mining & Metal companies. Hindustan Zinc is a certified Water Positive Company.
As a socially responsible corporate, Hindustan Zinc has been relentlessly working to improve the lives of rural and tribal people residing near its business locations. The company is amongst the Top 15 CSR Spenders in India and are currently reaching out to 500,000 people in 184 core villages of Rajasthan and 5 in Uttarakhand. As a market leader, Hindustan Zinc governs about 77% of growing Zinc market in India.
For further information, please visit: https://evolve.hzlmetals.com/
About SAP
SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP® system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.
