WizCommerce, which was previously known as Sourcewiz, is guided by the objective of transforming the end-to-end sales experience in B2B commerce.
According to Divyaanshu Makkar, CEO of WizCommerce, Sourcewiz was started with the vision of democratising technology for those involved in the sourcing step of the supply chain, that is, to help wholesalers and manufacturers connect with retailers who are much ahead of them in tech adoption.
The Legacy of Sourcewiz
Sourcewiz by WizCommerce can be described as a tech platform for sales, merchandising, and design teams in B2B manufacturing and exports. It can save countless hours spent trying to find the right products or creating presentations.
Divyaanshu, Vikas Garg, and Mayur Bhangale are also co-founders of Sourcewiz, which helped the lifestyle export industry digitalise its sales and marketing operations.
In June 2022, Sourcewiz garnered Rs 20 crore from its pre-Series A round led by Matrix Partners India, which included several investors. Earlier, in October 2021, Sourcewiz generated 3 million USD in a seed funding round led by Blume Ventures and Alpha Wave Incubation, which included some renowned angel investors. The capital generated in the October 2021 funding was to be used by Sourcewiz to expand its engineering, product management, sales, and customer success teams.
Sourcewiz helped its users to manage their business processes with greater ease. WizCommerce can be construed as the next step of the evolution of Sourcewiz; the goal of WizCommerce isn’t just to maintain workflows but to elevate them to new heights of intuitiveness and efficiency.
Evolution to WizCommerce
“Over the last decade, we have seen remarkable advancements in B2C commerce with platforms like Shopify and Magento. Yet, the B2B sphere seemed to lag behind, clinging to outdated processes and disjointed systems. That is where we see our mission—to bring about the same level of innovation and ease to B2B commerce,” said Divyaanshu while elaborating on WizCommerce’s mission.
Based in Bengaluru and Gurugram, WizCommerce is a comprehensive AI-powered platform that empowers B2B wholesalers, distributors, and manufacturers to digitize their end-to-end sales, from recording new leads to taking orders, processing payments, inventory, invoices, and more. WizCommerce effortlessly merges with websites, ERPs, CRMs, and accounting systems, streamlining users’ ability to oversee all their data within one unified platform.
Divyaanshu asserts that WizCommerce is not just building a platform but crafting an ecosystem that simplifies and integrates major business workflows. Their vision is to diminish their users’ daily chaos to liberate them from the constraints of juggling multiple platforms or labouring under manual processes.
Important Features
One of WizCommerce’s distinctive features is WizAI, an AI-powered recommendation engine that helps the users’ sales team upsell. WizAI begins by processing information from ERPs and CRMs to gather data points, including purchase history, invoices, and market trends. This information matches client data, and a lead score is assigned. Based on the score, the users’ sales team gets recommendations of which clients will likely close that month within the app.
WizAI can also predict which customers are most likely to buy with more than 70 percent accuracy. This enables sales representatives to spend their time more effectively by going after ripe customers.
Another of WizCommerce’s features, WizOrder, greatly reduces the tediousness of sifting through 1000s of products and memorising SKU IDs. WizCommerce’s WizPay feature enables effortless refund of entire orders or partial refunding of the amount for items returned. One can choose to return the amount to the buyer or store the amount as credits within the app for future orders. Some of WizPay’s other advantages include enabling the seamless acceptance of payments across mobile, tablet, or web platforms, giving a complete view of your finances in one place, and keeping track of disputes right through its dashboard.
Regarding the road ahead for WizCommerce, Divyaanshu commented on its WizCommerce website that “As WizCommerce embarks on this new journey, we carry forward the legacy of Sourcewiz, driven by the same passion to revolutionise the B2B commerce landscape. Our new identity symbolises a broader commitment to intuitive, seamless experiences, blending the best of technology with the human touch. We stand at the cusp of a new era, ready to tackle fresh challenges and seize exciting opportunities. Join us as we pave the way for a future where B2B commerce is efficient and delightfully simple.”
