Serai, the digital B2B platform of HSBC that makes global trade easier for apparel businesses, has provided services to over 700 Bangladeshi manufacturers since its presence in the country in late 2020.
The firms who use Serai services include some prominent names such as Viyellatex, DBL group, and Envoy Textiles.
With a free of cost digital profile building initiative, Serai has managed to strengthen the digital presence of Bangladeshi manufacturers and suppliers. It has connected them to international buyers at a time when travel is near impossible, said a press statement issued on Saturday.
"Serai has helped DBL to connect with new buyers, brands, and suppliers virtually, to explore a new horizon of opportunities. It has also enabled DBL to exhibit our products and services, achievements, certifications, etc. to its stakeholders in a very effective and efficient manner," says Mr M. A. Jabbar, Managing Director of DBL Textiles.
Established in 2019, Serai currently has over 4,600 companies from over 80 countries including the USA, the UK, Australia and European countries, which heavily rely on RMG imports.
"Serai is helping Bangladeshi manufacturers establish a stronger and more productive online presence at a time when its value is immediate. The RMG sector in Bangladesh has embraced this opportunity to digitise, seek new business opportunities, and build fruitful relationships with foreign buyers, said Vivek Ramachandran, chief executive officer of Serai.
"Our constant innovation improves the trade experience on all sides of the apparel supply chain even more as we continue adding solutions to the platform to meet the ever-changing requirements of the apparel industry," he added.
Serai allows buyers to upload their requests for quotations (RFQs). So, manufacturers and suppliers can now access and respond to new RFQs, enabling new business opportunities and product diversification while buyers can choose suppliers that best suit their needs.
In a time of great competition and changing partnership dynamics, this is a valuable service for all stakeholders in the supply chain.
To further improve connectivity of the Serai platform, the platform's search and connect functionality has been enhanced.
The search option can filter prospects by location, business type and degree of connection, allowing users to find and connect with specific types of potential business partners including, brands, sourcing agents, manufacturers, distributors, retailers, and more.
"I believe manufacturers need to keep up with the modern world. Platforms like Serai can help Bangladeshi RMG manufacturers cut expenses and time. Moreover, it's totally free," said Kutubuddin Ahmed, chairman of Envoy Textiles.