The Tribune, Chandigarh - 21 March 2002
Saving Cash on Transactions
Using the age-old concept of barter system, Net 4 Barter
Company is today helping large corporates save cash
on transactions. With more than 750 corporate members,
the transaction volume by the company, in it's one-and-a-half-year
of inception, has been as high as Rs 18 crore.
“Not only is this system helping reduce costs
for the companies, we are helping them to liquidate
their excess capacities and slow moving stocks and providing
them an altogether new market”, said Mr Akhilesh
Sharma, head, Business Operations, while talking to
TNS.
Explaining the concept on which Net 4Barter, part of
UK-based Net 4 India group works, he said the members
get an opportunity to buy a product available with other
members with the exchange of their own products. It
does not essentially mean that if one supplies goods
to the other, he gets in return goods or services from
the same company — which means the member has
a large variety of products to choose from and no struggling
to find trading partners whose needs have to be exactly
matched by their own, he said .
Five to seven per cent of the total sales transactions
are being done this way by our members, said Mr Sharma.
To become a member one can visit the company's website
and get registered or contact the branch office of the
company. “Against the normal practice where companies
are charging commission both at the time of buying or
selling, we charge only when he buys”, he said.
The company is shortly planning to get into retail segment
as well where individuals will also be able to get registered
and conduct transactions.
