Intellect Design Arena Ltd, a forward-looking FinTech company serving prominent banking and insurance clients globally, has introduced iGPX (Government Procurement eXchange), the first-of-its-kind public procurement platform driven by a clear purpose and ecosystem focus.
Developed in collaboration with eMACH.ai, a leading open finance platform, and leveraging ‘First Principles’ Thinking and Intellect’s own Purple Fabric AI platform with embedded GenAI technology, iGPX pledges to deliver improved efficiency, transparency, inclusivity, compliance, and global sustainability.
Governments globally spend $13 trillion annually on public contracts, with up to 25% lost due to inefficiencies. iGPX, developed by Intellect with eMACH.ai, integrates advanced AI to optimize procurement.
It features comprehensive listings, price algorithms, and reduces cycle times by up to 95%, promoting inclusive economic growth. Built on Intellect’s extensive experience, iGPX offers 111 APIs and 17 microservices for rapid deployment of tailored solutions, driving efficiency and transparency in public procurement.
Debanjan Kumar, CEO of iDTC, described iGPX as a transformative advancement in public sector procurement, emphasizing its role in fostering sustainable, inclusive, and efficient practices globally. He highlighted Intellect’s commitment to innovation and leveraging AI to drive operational efficiencies and financial stewardship in public administration.