Tata Iron & Steel Co, the steel major, has become the first company in the country to go for B2B (business to business) transactions on wide scale. This has enabled Tisco to establish a comprehensive e-procurement system and end the system of manual quotation. About 2,400 vendors are currently on the company’s e-procurement site and Tisco has procured materials and services totalling Rs 90.25 crore upto March 31, 2003. The savings that accured to Tisco from these procurements through the Internet were to the tune of Rs 5.37 crore. These procurements have brought in more competition, ensured that prices were either reduced or arrested, transaction speed was enhanced, mistakes reduced and paper-work eliminated. Tisco’s e-procurement covered more than 400 items, including stationery, chemicals, fabrication, erection and piping contracts, cleaning contracts and other services. This fiscal, all tenders and procurement will be through the Internet taking the estimated transaction amount to around Rs 1200 crore.