Shriram Automall gets certificate for e-procurement system

Shriram Automall India Ltd onWednesday said it has received the 'Standardisation Testingand Quality Certification' (STQC) for e-procurement system.

The certificate from the Ministry of Electronics andInformation Technology enables the company to foray into theRs 50,000-crore forward auction industry.

Shriram Automall India is the country's largest platformprovider for pre-owned vehicles and equipment.

It has become the first private company to have itsauction portal certified by the STQC Directorate forexclusively conducting forward auctions which is among thefirst of its kind issued by the agency.

''Online forward auctions have so far been untapped by usfor the public sector and thus we at Shriram Automall Indiafeel proud to receive the STQC certification,'' company CEOSameer Malhotra said.

''So far at Shriram Automall India Ltd, we have beenoffering auction services, software development andconsulting to various auto original equipment-manufacturers,leasing companies, banks and non-banking finance companiesand insurance companies,'' he said.

STQC, an e-procurement system, is responsible formaintaining e-governance standards and related conformity asper the Department of Electronics and Information Technology,which are essential to various government agencies for theire-procurement needs, the statement said.

Malhotra said, ''Since public sector undertakings requiretheir e-procurement and forward auction service providers tobe STQC-certified, this will provide a very secure, accurateand trustworthy platform.'' ''Our engineering teams, including colleagues at ShriramAutomall India, have all worked very hard in pursuit of theSTQC certification,'' he said.