Minutes of Meetings on 16/17 Jul 09

The points raised and decisions taken during Client visit to BITS on 16/17 Jul 09 are as under:-

1. First launch ‘ToolScout’ in India as a test phase, followed by Germany & USA. During the test phase, of about one month, the system and procedures to be checked thoroughly by Indian TS team.

2. Advertisements other than related to ToolScout to be avoided in the launch phase.

3. Need more clarity on ‘Money back guarantee’ & ‘Commission %’ . Indian TS Team to review and intimate if any changes are necessary.

4. Automatic approval for pending Orders for which 100% payment is received was suggested. BITS advised to retain human intervention for approval. Status quo will be maintained till further confirmation.

5. Invoicing . Discussions inconclusive. Indian TS Team to suggest appropriate action in this regard after further discussions.

6. Country – Orders will be restricted only to specific countries (to be given by ToolScout), In the launch phase it will be only for ‘India’.

7. Option for daily online stock updation - daily updation of stock (cnc range) to ToolScout website by uploading from an excel file to be included.

8. Stocks to be reduced after placing each order for regular offers & special offers so that orders do not exceed availability of stocks.

9. Integration with ERP – Requires extensive analysis, onsite work and outsourcing SAP effort. Therefore it can be taken up as phase 2 only.

10. Regular offers pricing to be finalised by Indian TS Team depending on billing in the name of Toolscout or Client's name. Status quo till then.

11. All alert or warning messages to be revised & presented as soft toned as possible. (Pleasing to the customer).

12. Auctions Allocation – Prompt messages to be provided like qty already allocated and remaining for allocation, to facillitate easy allocation.

13. Customer should not bid less than the min. bid amount and should not exceed a limit. (Note :- To be reviewed since even if customers bid more, the auction does not get closed and allocation is decided manually. Recommended to give upper limit as total qty available. Clarification to be sought from German Clients)

14. Option to bring back the closed Auctions / Special offers to be provided.

15. Separate login for ‘Super Admin’ - Toolscout & ‘Administrator’ – BITS for maintenance.

16. Indian TS Team will handle the entire business process.

17. In India, the Payment Gateway decided to be outsourced to ‘CCAvenue’. To be registered in Indian Client name.

18. Help file about TS - order processing & TS-administration to be documented. Reference file to administer the website & its process flow.

19. Early bird prize / Gift packages for registering – Not yet decided.

20. ToolScout Payment:-

(a) Basic Project cost & SEO stands approved. Balance amount will be paid in due course.

(b) German Version - Translation will be arranged by German Client. Costs payable to BITS undecided.

(c) Onsite Support - Decision will be taken later.

(d) Maintenance Support - To be decided later. Basic warranty on delivered functionalities will be provided.

(e) Advertising Budget - Not decided. BITS strongly recommends allocation of suitable budget since targeted visitors is the crucial factor for online success.

21. A meeting will be held between BITS & ToolScout-India to discuss the business processes further.