Business
Green Tape is set to revolutionize procurement
A bold new venture seeks to revolutionise Sri Lanka’s tender and procurement system by automating the buyer-seller experience and easing the disruptions caused by the Covid-19 pandemic. www.greentape.lk is Sri Lanka’s online procuring platform that offers a certified and verified vendor base. The Platform which aims to create a level playing field for procurement in the Country was launched in November 2020. Within a short time span it is already serving a base of over 30 high profile buyer companies. They have successfully concluded more than 700 tenders amounting to some half a billion Rupees in business for over 3000 registered suppliers. The Suppliers comprise a good cross-section from very small to large businesses and also businesses from overseas.
Green Tape is a multi-tenant cloud platform conceptualised, designed, developed and brought to market by Affno Virtual Market (Pvt) Limited (AVM). Buyer companies can enhance process and spend efficiency as well as institute an organisational change whilst sellers get easy and cost-effective access to these buyer companies.
Nissanka Weerasekera, Chairman of AVM and a pioneer in the tech institutional investor community in Sri Lanka, explained that procurement is the Cinderella of automation and productivity improvement in business. “Its relative immaturity compared to other corporate functions results in companies standing to lose considerably. The loss is not just financial but also reputational. And what’s worse, the loss is for the most part out of the view of business owners. As such, procurement remains the covert bane of business.”
“By attracting large volumes of B2B buyers and sellers to one place to transact, network effects would multiply the value of any one buyer or seller being present on the Platform, giving each buyer and seller far greater reach”, explained AVM’s Managing Director and co-founder of the Affno Group, Suren Kannangara. Effectively, buyer companies would be in a better position to get the best prices owing to their ability to attract and work with a larger number of suppliers; and suppliers would be able to grow their business faster and cost effectively by being able to easily access new buyer companies.
The Platform streamlines everything for buyers from tender creation, review and approval, to reaching the best suppliers, managing clarifications and submissions, and identifying the best bid. Among the buyer companies on-board are prominent groups such as Sunshine Holdings, Access Engineering and McLarens who have very large procurement functions and an elaborate process. “They need to get multiple approvals and control costs. With such tedious requirements, they now find business easier and smoother with Green Tape. Also, for suppliers, it also dramatically simplifies the process, encouraging them to place greater value on the opportunity to serve the buyer companies’ needs. This ensures buyer companies get the best product at the best price”, added Kannangara.
The initial registration to the platform is offered free of charge while for a nominal fee of Rs. 858 per month a supplier gets access to at least ten buyer companies. “We want to make the platform affordable and accessible to all suppliers irrespective of their size. With a simple, transparent and customizable system, we can reduce the inefficiencies and help buyers find suppliers, and suppliers find clients. Our aim is to make business smoother and to create opportunity”, concluded Amal Karunaratne, Chief Operating Officer of AVM.
Adapting to the new normal amid the current pandemic, Green Tape helps businesses to grow with faster onboarding mechanisms and submissions. Unique features of the system allow users to navigate with ease and allows convenient access to new partnerships and opportunities with minimal effort. Green Tape has set its objectives to streamline the current process of procuring with a more simplistic and transparent system that helps suppliers and buyers to reach out with the aim of creating more business opportunities.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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