Bizofit is a B2B Technology Marketplace – Technology Sourcing Platform for Enterprises, and Business-Development-as-a-Service for Tech companies.
The Marketplace Platform is targeted towards small, medium and large enterprises, and has full-life cycle features to Identify, Evaluate, Select, Manage and Pay IT Service Providers.
Bizofit, launched by IT Services industry veteran, Bala Palamadai, seeks to disrupt the IT Services space, by challenging the status quo – based on legacy sourcing approaches, legacy Service Providers and legacy engagement models – resulting in sub-optimal solutions, huge costs and limited adoption of Transformational Platforms in several organizations. Identifying a new IT vendor currently can take up to nine months – an unacceptably high time frame in today’s world. Also, a little known fact is that new customer acquisition often costs as high as 20% of revenues for IT Service Providers, a cost which ultimately is borne by Enterprise Customers.
Through adoption of its Marketplace Platform, Bizofit seeks to eliminate these inefficiencies and reduce costs, and most importantly present Enterprises with Transformational SMAC-based Solutions (SMAC is an industry acronym for Social, Mobile, Analytics and Cloud).
While the Platform has several attractive features, the ‘4P SUGAR Quadrants’ is a unique differentiator. ‘4P’ refers to Bizofit’s proprietary framework for evaluating Solutions along the four dimensions of Platform, People, Process and Partnerships; and SUGAR is an acronym for ‘Specialized User Generated Aggregate Rating’. As the name suggests, this is based on Rating by Specialized Users, namely Customers and Analysts.
In addition, Bizofit is also a Business-Development-as-a-Service Platform for IT Service Providers / IT Vendors.