FREQUENTLY ASKED QUESTIONS

Find answers to your questions about Khareed, its functionality and features here. If you cannot find your question answered here, feel free to contact us.

GENERAL QUESTIONS

What is Khareed?

Khareed is a tool for companies to source competitive price quotes for the products they are looking to buy. Our mission is to make procurement transactions transparent by enabling buyers to easily request and compare price quotes from different vendors and thus discover the best price of whichever product they need to buy.

The price of industrial products and other large ticket commercial items is often not fixed, and there is room to negotiate with vendors to reduce prices. When buying in large quantities, there are also bulk discounts available. To save customers from having to go to market to source and haggle themselves and to increase the transparency in this process, Khareed offers a requisitioning platform. Users simply describe the product they need and receive quotations from different vendors. This competitive tendering process helps users surface the lowest rates and discover the true price of a product.

By making it easy to compare different price quotes, Khareed helps buyers identify hidden costs, quality differences, and other factors that affect the purchase decision.

Is Khareed an online marketplace or a software?

Khareed is a platform that connects buyers to sellers. Our platform offers an online marketplace where companies can list and promote their products and where users can search for products and connect with vendors.

Our platform can be used for free by anyone to search for products, discover vendors, and requisition price quotes.

Companies with more advanced sourcing, procurement and requisitioning requirements can sign up for our premium cloud-based application. Our application helps simplify and standardize the procurement process of companies, making it convenient to request price quotes, and enabling easy negotiations and straightforward price comparisons.

Khareed is not an online shopping website.

Is Khareed only for companies or can individuals use it also?

Although the users of Khareed’s e-procurement application are companies, our broader platform is open to anyone who requires price quotes for products listed on our site. As most of our vendors are wholesalers or manufacturers, we usually deal either in bulk order quantities or large ticket items. Any individual who needs to buy industrial or commercial goods in bulk quantities or is looking to get price quotes on expensive equipment, can use our platform for free.

We have an obligation to safeguard the time of our vendors and ensure that we provide them with high quality leads. We therefore reserve the right to screen queries from guest users of our platform and from individuals to ensure that they are serious leads.

QUESTIONS FREQUENTLY ASKED BY BUYERS

What sort of products can I find on Khareed?

Khareed is mainly a business to business (B2B) platform, and focuses on products for industrial and commercial use, notably in offices and factories. Our product listings are thus concentrated around machinery and equipment, hardware and tools, building materials, and office supplies. We also list products such as home and kitchen appliances, electrical fittings, and construction and interior fitting, which are used in both commercial and consumer settings. However, unlike most consumer oriented e-commerce marketplaces, we do not deal in retail items such as mobile phones or apparel and accessories.

You can find the full list of our core product categories on our website in the category listing and also in the dropdown menu in the Request a Quote Form.

The product that I need is not listed in the Khareed marketplace. Can I still request a price quote?

If the product that you require falls in one of the core product categories which Khareed deals in, we will make every effort possible to try and source the product for you. Simply name and describe the product in the Request a Quote Form and submit it and we will circulate it among the relevant vendors to try and source price quotations. Corporate and enterprise clients using our application can also attach pictures, schematics, data sheets and other documentation to clarify what they require or request customized products.

How do I buy and make the payment for the product I want?

When you receive price quotations through Khareed, we also share the name and contact details of the vendors with you. To buy the product, simply contact the vendor whose quotation you have selected, and directly discuss how to make the payment and take delivery.

Does Khareed accept payments and deliver the products?

Our platform is solely for price and vendor discovery, so Khareed does not directly take payments or arrange delivery. We provide you with vendor contact details so you can choose your preferred vendor and arrange payment and delivery or collection.

Does Khareed guarantee the quality of the products and the reliability of the vendors?

To enable clients to get the best price possible, we offer quotes from a wide range of vendors and allow clients to freely choose whichever vendor and product best suits them.

As in any market transaction, the responsibility of providing a guarantee rests with the seller and the onus on selecting and choosing a reliable vendor is ultimately on the consumer. Khareed does not offer any guarantees.

To help minimize incidences of poor product quality or vendor reliability, Khareed vets the vendors who list on our platform to ensure that they are reputable and reliable companies who provide good quality products and are able to meet the order requirements. We also enable clients to provide feedback and vendor ratings to increase the transparency on vendor quality and provide recourse in case of a bad customer experience. These ratings can be used by clients as a guide when selecting vendors.

What criteria does Khareed use to vet vendors who are listing on their platform?

Khareed screens all vendors to ensure that they meet a minimum set of parameters that are indicators of the company’s reliability. We ensure that all companies listed on the platform are registered businesses, either with the SECP or partnerships and sole-proprietorships registered with the relevant authority. We also ensure that vendors are registered, active taxpayers with an NTN and meet a minimum years in business criterion.

Premium registered vendors appear with a “Verified” badge on the Khareed platform, indicating that have also conducted a physical site visit and obtained market references for these vendors.

How many quotes can I expect to receive per RFQ?

For most readily available products, we attempt to source a minimum of three quotations for our clients. Enterprise clients using our application receive an unlimited number of quotations with filtering options available to minimize excessive or confusing bids.

For some harder to find products, it is not always possible to obtain 3 quotations. In these rare instances, we will endeavor to get the maximum possible quotations.

Can I negotiate with vendors?

In most cases, vendors will already be submitting their best and lowest rates when responding to price quotation requests. However, users are free to negotiate further. Enterprise clients can directly message vendors through the application. All messages and negotiations are stored along with the original RFQ and quotation for future reference. Application messaging integrates with email so users and vendors can simply reply to the emails and the messages will be logged in the application.

Can I place orders and generate purchase orders through Khareed?

Yes. Once you have selected the quotation that best suits your needs, you can place your order with the vendor either by clicking “Submit Order” against the quotation, or by generating a purchase order.

How does Khareed work for products which I need to see or test before I buy them?

Khareed’s requisitioning system works best for standardized or commoditized products, as most industrial items are. Buyers who know the name, make, model or specifications of the equipment they need can requisition quotes specific to these products.

For buyers who are less clear on what specific item they need or for products where the aesthetics and consumer preferences drive the decision-making, buyers can request vendors to send pictures, technical specification sheets and any other information they need to buy.

For products requiring sampling or testing, buyers in their RFQ can specify these terms and directly negotiate sampling and return policies with vendors.

Can I request a customized item?

Yes. Khareed allows buyers to describe their product in detail. Enterprise clients can attach drawings, pictures, schematics, or any other information they need to give the vendor details for product customization.

In which cities does Khareed operate?

Khareed operates all across Pakistan. We have buyers and vendors located in nearly every major city in the country. Buyers receive price quotes from vendors situated in or near their city unless buyers specifically request for quotations from vendors in a specific location.

How many vendors can I access on Khareed?

Khareed’s directory comprises more than 12,000 pre-screened vendors covering more than 2000 product categories. Many of these vendors maintain active product listings, while others have simply listed the product categories in which they do business. All these vendors are accessible through Khareed and can respond to queries from buyers.

Can I request a quote from a specific vendor who is not listed in Khareed’s directory?

Enterprise clients can submit requests for quotations to specific vendors with whom they have pre-existing relationships, including vendors who are not listed on the Khareed platform. Vendors are encourage to list themselves on our platform, but are not required to be listed in our directory or on the platform to be able to respond to a buyer query.

Can I source internationally through Khareed?

Currently, Khareed is limited for domestic business transactions only and we do not have international vendors listing products on our platform. However, enterprise clients can submit requests for quotes to international vendors with whom they have a pre-existing relationship or for whom they have contact details.

My company already has a procurement department, how can Khareed help us?

Khareed helps make procurement teams more efficient by minimizing the time they need to spend conducting market visits, preparing comparative statements, and filing documents. Procurement teams can focus on higher value added tasks, proactively budgeting and planning their purchase cycles, minimizing emergency spending, bulking orders, and negotiating better terms. Vendor development becomes easier with Khareed and procurement officers can spend their time deepening strategic vendor relationships.

Khareed’s spend analytics tools help identify areas of cost optimization while the systematic workflows enable companies to ensure clear audit trails and transaction approvals. Processes become streamlined and standardized and all information is maintained in a searchable database for future reference, planning and budgeting needs.

CEOs and top management team members gain greater transparency and spend visibility, and minimize audit and compliance costs. Procurement operating costs decline as productivity increases and market visits decrease, further strengthening the bottom line.

How secure is my data?

Khareed offers enterprise-grade data security at par with major international SaaS application providers, and superior to the standard security covering the emails and servers of most locally-hosted corporate domains.

Transactions conducted on Khareed are encrypted and our databases are hosted in secure cloud servers protected by Cloudflare advanced 4 layer DDoS protection. Our application is protected by Cloudflare Web Application Firewall.

Can others see the rates and prices I am getting?

Quotations received by your company are confidential and other clients do not have any visibility in to the rates you are receiving.

Is Khareed viable for a small or medium sized business?

For small and medium sized businesses, maintaining a dedicated procurement team is a costly proposition and one that does not fully justify the overhead given procurement volumes. The monthly price of a subscription to Khareed’s SME package is less than one quarter the fully loaded cost of a full time procurement agent. For small businesses, outsourcing procurement needs to Khareed and leveraging the application for sourcing, requisitioning, and data keeping is not only highly viable, but recommended.

How is Khareed different from Oracle/ SAP or other ERP procurement modules?

Khareed affords clients a number of benefits over the traditional procurement modules offered by most commonly used ERP software:

  • Intuitive user interface: Khareed’s user interface is highly intuitive and easy to use, especially in comparison to the more complicated legacy systems being run by most ERP systems. Users can log in and get started right away without requiring any lengthy training or support. The simplicity of the interface makes requisitioning fast and smooth, requiring minimal effort from the user.
  • No implementation period: Unlike ERP systems which require a lengthy and expensive implementation, configuration and onboarding period, Khareed requires no implementation. The benefits and features in each package are defined based on the size and needs of the company, and require no further configuration or customization. This saves companies valuable time and money that would otherwise go in implementation of hard to use ERP modules.
  • Highly affordable: Khareed’s packages are need based so companies only pay for what they need and will use. Unlike complex ERP systems which have functionality that is not relevant for local business requirements, Khareed’s system is tailored for the needs of Pakistani companies. Even excluding implementation costs, Khareed costs about one-tenth as much as a comparable ERP procurement module.
  • Cloud-based: As an online web application, Khareed can be accessed and used from anywhere, including from your mobile phone. There is no need to install software on local computers or to have dedicated machines to access the ERP system.
  • Direct interface to vendors: With the exception of the most advanced and expensive versions of ERP procurement modules, most ERP procurement solutions serve internal record-keeping, documentation, and workflow approval needs. Requisitions, once generated, still need to be manually emailed or sent to vendors, and quotations received need to manually entered into the system for spend analytics. In contrast, Khareed enables companies to submit requisitions and purchase orders to vendors directly with one click from within the system. Vendor responses are also directly captured by the system so there is no need for manual data entry. Moreover, even the messaging and negotiation with vendors gets captured in the system so you can see all the documents, quotations, and messages associated with a given requisition.
  • Live e-commerce style online marketplace: Modern releases of ERP systems promote interfaces with a consumer-friendly online shopping look and feel. However, the catalogues and product details in these systems need to be prepared and uploaded manually by the company itself. In contrast, Khareed offers a live and open online marketplace with nearly unlimited product range that is listed and maintained by the vendors.
Can Khareed integrate with my ERP system?

Enterprise customers can integrate their ERP systems with Khareed using the Khareed API. Alternatively, companies can easily import and export data into and from Khareed through data files in excel, text, or comma separated format.

QUESTIONS FREQUENTLY ASKED BY VENDORS

How many leads can I expect to receive?

Leads received by vendors vary according to the sales package they have selected and according to the value of the lead. For small ticket items or small order quantities, most clients on the free package can expect to receive up to 5 leads each month before they need to upgrade to a paid package. For vendors selling large ticket items or receiving high volume leads, the aggregate annual lead value on the free package is limited to Rs. 5 million in leads.

How viable are the leads that I will get through Khareed?

Leads come primarily from companies registered on our platform, and thus tend to be serious leads. Vendors receive the name and contact details of the client and can contact them directly to verify the lead, ask clarifications, or even offer rates.

On occasion we will submitted guest requests from clients who are not registered with Khareed but who we have determined to be serious buyers.

Khareed does not guarantee that all leads will convert or that you will win each lead you receive.

Do I need to go through Khareed to respond to customers?

No. Vendors are welcome to contact customers directly and offer prices and services. However, as customers are using the Khareed system to be able to compare prices and keep the quotations all in one place, in order for your offer to be considered, we recommend submitting it through the Khareed system.

I have many products and SKUs which are too complex to list. How can Khareed help me?

Many of our clients have complex and large product ranges, sometimes comprising thousands of stock-keeping units (SKUs). We facilitate them in cataloguing uploading these products in bulk. As most original equipment manufacturers all maintain lengthy product catalogues, we don’t believe that there is any product that is too complex to list.

Our site allows you to upload numerous variants to a product (for example, different colors, sizes, or dimensions of a product, which cause it to be listed as a separate SKU can be listed as variants). Khareed also enables companies to upload product data sheets and multiple pictures to further clarify product information. Our team is available to help clients in uploading this information easily.

Does Khareed take a commission when I make a sale?

No. The transaction is solely between a vendor and a buyer and beyond connecting the two parties, Khareed does not come in to take a commission or a cut. We transparently share the names and contact details of the buyer and the vendor with each other and encourage them to transact freely.

 

We simply charge a flat subscription fee from vendors depending on the features and benefits they require in their package and the lead value for which they have signed up.

Will my quotations be confidential?

Yes. We value our clients confidentiality and protect your data. Only the buyer to whom you have sent a quotation will know the rate you are offering. We will not reveal your offered prices to any company.

As per our privacy policy, Khareed does aggregate price data and compile anonymized statistics. This data does not name specific companies and their rates.

Does Khareed guarantee that I will receive a payment from the buyer?

As with any market transaction, it is the responsibility of the vendor to agree on payment terms with the buyer and collect the payment. Khareed cannot guarantee payments on behalf of buyers.

We are already in business with all major companies, how can you help us?

The benefit to using the Khareed platform is not solely in generating new clients and new business. Khareed’s sales application enables companies to save time in responding to queries and offer better customer service and support. Companies can assign product managers and key account managers to ensure better more streamlined routing of queries and reduce response times. Having products listed online enables companies to prepare and dispatch quotations and invoices faster with minimal effort.

Will Khareed promote my products?

As a neutral platform for buyers and sellers, Khareed does not directly promote the products of any specific company or vendor in exchange for fees. Khareed will offer independent advice and recommendations to enterprise clients from time to time based on data and market intelligence. However, to avoid compromising our independent perspective, we will not do so at the request of a vendor.

Khareed provides vendors with a number of tools to enable them to promote their own products. Our platform’s search engine optimization algorithms help your products appear in search results. We also enable you to create and curate your company profile, post advertisements and promotions on this and market your products through your profile page.