Who are the Institutional Buyers?
Institutional buyers are the institutional or organizational entities like public/private companies, that have enough financial resources and experience in the field of buying and selling their products in the market. In the agricultural sector, these Institutional buyers are perceived as one of the key drivers of the agricultural markets. They mostly purchase their huge stocks from mandis through commission agents and pass on the purchased agricultural commodities further to processing mills.
Their growth with Agritech
These public/private entities do not directly purchase from the farmers. They connect with aadathiyas present in the mandis to place their orders. This is so because it is difficult for these institutions to connect with numerous farmers directly for purchasing their huge stocks. In such a scenario these aadathiyas become local aggregators for these entities. With the rise in technology today these public/private institutions have begun to see an untapped potential in the agricultural sector. With internet facilities, smartphones, and better transportation facilities penetrating the rural sector, it has become very easy for them to connect with these commission agents online and place their bulk orders there and then.
The role of ChargeERP accounting platform
In this growth, the role of an effective accounting platform like ChargeERP has been huge. With its features like remote access and Whatsapp sharing, both the groups i.e. the commission agents and institutional buyers have benefited greatly. It has helped make the entire supply chain management streamlined and smooth. For ChargeERP both these groups form a valuable user base and it has helped them greatly in bridging the gap between supply and demand in the market. ChargeERP’s fast accounting and billing system have helped these companies make quick decisions concerning their future projects as well. Owing to the rapid technological development the commission agents and these companies are now able to easily connect. The ChargeERP in this scenario has provided them with the facility of pre-planning their budget.
During the covid-19 pandemic, ChargeERP became a lifesaver for these institutional buyers and commission agents by helping them in managing all their accounting and billing operations remotely. Moreover, it helped them sync better with each other during the time of crisis and resolve every issue that affected their operations due to lockdowns and the spread of the virus.
ChargeERP has partnered with many institutional partners like Sequoia, RTP Global, Omnivore and many others who share our dream to make agricultural transactions transparent at every step.