BigBasket Launches Supply-Chain Management Platform BB Matrix

BigBasket, the leading online grocery platform owned by Tata Digital, has taken a significant step beyond its core business. On July 18th, 2024, they announced the launch of BB Matrix, a comprehensive supply chain management (SCM) platform offered as a Software-as-a-Service (SaaS) solution. This strategic move positions BigBasket as a serious contender in the B2B SaaS market, joining a growing number of startups offering innovative solutions to businesses.

BigBasket's BB Matrix: Empowering Businesses with Real-Time Visibility

BigBasket's B2B software is designed to empower businesses of all sizes with real-time data and actionable insights. Customers can leverage BB Matrix to gain complete visibility across their entire supply chain, identify bottlenecks swiftly, and make data-driven decisions to build robust and resilient logistics networks.

"The offering is live, and we are actively piloting it with a variety of customers," said Rakshit Daga, BigBasket's Chief Product and Technology Officer, in an interview. "We've already secured our first paying customer, and we're excited about the potential of BB Matrix."

Daga further elaborated on the platform's capabilities: "BB Matrix is a one-stop shop for businesses seeking a comprehensive SaaS-based supply chain solution. It provides complete visibility across the entire supply chain, empowering enterprises globally."

Piloting Success: BigBasket Tests the Waters with Diverse Clients

BigBasket is currently piloting its BB Matrix solution with a range of companies across various sectors. From e-commerce giants to omnichannel retailers, the platform is being tested and refined to cater to diverse business needs.

"Our SaaS solution has already demonstrated impressive results," Daga revealed. "Early adopters have reported a near 50% reduction in transportation costs, a 60% decrease in lead times, and a significant improvement in supply chain visibility, reaching close to 100% with BB Matrix's cutting-edge features."

A Thriving Market: The Rise of Supply Chain Management Software

The launch of BB Matrix capitalizes on the surging  global demand for robust SCM software solutions. A recent report by Gartner predicts that the global annual spend on SCM software will witness a significant rise, reaching a staggering $62 billion by 2028, compared to $29 billion in 2023. This represents a Compound Annual Growth Rate (CAGR) of a remarkable 16.3%.

"While BigBasket's core business primarily focuses on grocery delivery, our internal operations involve various complexities," explained Daga. "We manage quick commerce, subscription services, and traditional grocery deliveries, each with its unique supply chain nuances. We realized the need for a robust SaaS solution to manage these diverse operations effectively. We believe BB Matrix can be immensely valuable not only for BigBasket but for businesses across industries."

Unveiling the Powerhouse: BB Matrix's Core Functionality

BigBasket's BB Matrix offers a comprehensive suite of features to optimize supply chain management, including:

• Warehouse Management System (WMS): Improves warehouse operations through efficient inventory management, order fulfillment optimization, and real-time stock visibility.

• Transport Management System (TMS): Optimizes transportation logistics by streamlining route planning, carrier management, and real-time shipment tracking.

• Order Management System (OMS): Provides a centralized platform for managing orders across all channels, facilitating efficient order processing and customer communication.

This comprehensive offering positions BB Matrix as a strong competitor in the B2B SaaS market.

Beyond Grocery Delivery: BigBasket's Diversification Strategy

The launch of BB Matrix signifies BigBasket's strategic move towards diversification. Similar to how FinTech and e-commerce giants like Razorpay and Cashfree are expanding their offerings with AI-powered SaaS products, BigBasket is venturing beyond grocery delivery to generate new revenue streams.

"While BB Matrix is still in its initial phase and doesn't significantly impact BigBasket's overall revenue at present," Daga acknowledged, "we expect this vertical to gain significant traction and contribute meaningfully to BigBasket's bottom line within the next 2-3 years."