To set up State-of-the-Art auction platform
New Delhi, August 1st 2012, Wednesday :- Coforge Ltd. (NSE: Coforge), a leading global IT solutions organization announced an engagement for implementation of an Auction system for the India Tobacco Board for the states of Karnataka and Andhra Pradesh. This is one of the key e-governance initiatives in the area of Commodity Marketing in India. The Company secured this contract against prominent players in the industry and is valued at Rs. 35 crores.
Commenting on the project, Mr. G. Kamala Varhana Rao, Chairman of the India Tobacco Board said, “We are glad that Coforge is engaged with us on pay-per-use model, which will help us effectively manage the expense for automation. Implementation of auction system will make transactions transparent, faster and convenient for all”.
The solution envisages usage of handheld devices; bidders will use handheld devices for conducting auction on real-time basis. The auction platforms will enable the farmers to sell their tobacco bales to the cigarette manufacturing companies. The process will ensure inventory reduction and transparency through real-time collaboration between buyers and suppliers. Approximately 1000 bales are expected to be auctioned at each location each day. The platform will ensure fair pricing for the farmers as the market intermediaries will be excluded in the process.
“Coforge has proven expertise in implementing procurement solutions. Our experience in mobility has allowed us to enable real-time transactions at the auction platforms by integrating handheld devices to the auction platform and back-end system” said Mr. Arvind Mehrotra, President, Asia-Pacific, Coforge.
The Company will be responsible for Infrastructure Support and Application Support for all Enterprise Applications. The project support team including Field Support, Data Center Support and Helpdesk will be made available post implementation for 6 years.
Coforge is a global IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions, Managed Services and Business Process Management to organizations in few select industry segments with dominant share in Travel and Transport. Coforge follows the higher standards of operations which includes ISO 9001:2008 certification, assessment at Level 5 of both SEI-CMMi version 1.2 and People-CMM frameworks, ISO 27001 information security management certification. Its data centre operations are assessed at the international ISO 20000 IT management standards.
For further information, please visit www.coforgetech.com
About Tobacco Board
Tobacco is an important commercial crop grown in India. It occupies the third position in the world with an annual production of about 700 Million Kgs. Of the different types grown, flue-cured tobacco, country tobacco, burley, bidi, rustica and chewing tobacco are considered important. India, as an exporter of tobacco, ranks third in the world next to Brazil and USA. Tobacco and tobacco products earn a whopping annual sum of about 17415 crores to the national exchequer by way of excise revenue, and 4100 crores (2011-12) by way of foreign exchange. Furthermore, tobacco is a source of gainful employment. Several lakhs of people thrive on this weed crop. The Govt. of India established the Tobacco Board under an Act of Parliament in the year 1975 (brought to effect from 1.1.1976) and opened its head quarter at Guntur, Andhra Pradesh with a view to bring about an all-round development to the tobacco industry.
For further information, please visit www.tobaccoboard.com
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Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.