MAQ Software launches MarketingQ

Chitra Padmanabhan / Mumbai

Rajeev Agarwal

MAQ Software has launched MarketingQ, a solution that caters to the marketing departments of large enterprises. The solution facilitates a company’s marketing activities through an e-procurement solution, a campaign cost management solution, a media archive solution and an all-India vendor directory of marketing and advertising vendors.

Marketing departments carry out promotional campaigns, as per budgets allocated at the beginning of the year. A big concern for campaign managers is to fully utilise these budgets and derive quantifiable results. The solution helps a manager get the best prices in sourcing marketing materials and services, which in turn brings down the cost of a campaign. “When a company allocates budgets for their marketing activities, it is important that they are able to derive full value out of it. Companies can gain significant cost savings if they get their procurement right. We expect to close a deal with HDFC Bank this week,” says Rajeev Agarwal, CEO and co-founder, MAQ Software. The company is in talks with banks such as Standard Chartered, ICICI Bank, Kotak Mahindra Bank and Centurion Bank.

The tool is tuned to the needs of marketing departments and it helps them locate suppliers and streamline online negotiations. Buyers and sellers may specify prices, invite bids and conduct reverse auctions. The company is currently in expansion mode and it will make an investment of $1.5 million over the next 18 months.