The global Business Spend Management (BSM) Software market size is projected to grow from $23.36 billion in 2024 to $57.22 billion by 2032, exhibiting a CAGR of 11.8% during the forecast (2024-2032).
Dice is a Spend management solution that disrupts the way enterprises consume B2B goods and services and manages corporate spending. Dice holistically brings in all workflows, payments, compliance & purchase rails onto a single platform, bringing a new unified approach to the market.
Dice aligns with DVC’s investment thesis, meeting the criteria of being a B2B enterprise software company with over $1 million in ARR. Dice has more than 50 large marquee clients and about 75 mid-sized customers using their product and has also reached out to MSMEs through channel partners. This positioning allows DVC Advantage to effectively leverage its potential. Dice is currently focused on India and MENA markets and aspires to launch in the US and EU markets in the future. They have a very sound GTM approach and is forming strong partnerships that would continue to drive revenue growth in multiple geographies.
Source: DICE
Dice is backed by founders Prashant Singh Kushwah, and Sonam Khubchandani who sit out of Pune with a team of 100+ which will double in 12 months.
Key Use Cases of Dice:
Organizations face significant pain points in managing utility bills and accounts payable transactions. There’s a lack of a comprehensive one-stop solution to address the complexity of utility bill management, resulting in recurring penalty payments. Additionally, the challenge of managing utility bills across multiple offices from a single platform exacerbates this issue. Moreover, most organizations’ accounts payable transactions are hindered by inefficient paper-based processes, with paper preparation alone consuming up to 30% of transaction processing time. Payment modes such as UPI and proposed CBDC rollout also complicate expense management for enterprises. These pain points underscore the urgent need for streamlined solutions to enhance efficiency and reduce costs in utility bill management and accounts payable processes.
Source: DICE
The spend management experience in complex setups is simplified through Dice’s no-code workflows, compliance rules, audit engine, integration studio, and more. Consequently, the time for deployment and go-live have significantly shortened through Dice’s efficient integration platform. Dice’s connected ecosystem hosts more than 500 thousand employees and 150 thousand vendors every month, processing transactions worth $1.5 Billion annually.
Dice provides card-free UPI based payments which frees up a lot of working capital requirements for companies as clients do not need to give cash advances to employees for travel purposes or vendor payments. Their OCR driven expense filing saves hours spent on expense claim reports, leading to improved employee efficiency.
Additionally, Dice provides significant cost savings, particularly in travel and boarding, by setting metrics-based limits. Their state-of-the-art architecture supports orchestration across strategic business units (SBUs), various data sources, and geographic entities. Enhanced by AI and automated integration with CRM and BI tools, Dice ensures seamless and efficient operations.
Inbound inquiries are exceptionally high, as vendors view Dice as the primary platform for vendor engagement. Consequently, direct selling remains the main focus, supported by a highly developed sales strategy.
Through its PaaS model, Dice enables SMBs to embrace digital transformation while assisting platform service providers by offering this B2B solution to multiple partners.
Source: DICE
Source: DICE
With our “DVC Advantage” program, we are excited to bring our expertise and our select advisors and operating partners to accelerate Dice’s growth, aiding in product and technology strategy, executive mentorship, corporate governance, business development, and talent acquisition. DVC has successfully backed and helped drive growth for several of our portfolio companies and we look forward to similarly contributing to Dice in this phase of their growth.
Comments