With Indian eCommerce being one of the most promising markets around the world, and expected to grow at a compound annual rate of around 39% during FY 2013 to FY 2016, it has encouraged several new startups and established offline retailers to explore the online space to expand their market, namely Provogue, Malabar gold and diamonds, Madura Fashion, Lifestyle, SaharaQShop and more.
However, for small online retailers to survive the competition and stay at par, it is essential to have software capabilities which can handle their back-end system and eliminate manual processes. Once a retailer is assured that he has a system in place to manage all the channels, he can work and focus on other product development stages. But many small online retailers lack the IT infrastructure to build a system which is required for a smooth processing of inventory and orders which in turn leads to increased costs and mishandling of resources, especially being a startup one can’t afford that, Orderhive – a product of OpenXcell Technolabs claims to serve that segment.
Orderhive is an inventory and order management system for small and medium online retailers to sell on multi-channels.
With its cloud capabilities, it helps online retailers to manage their orders, inventory, shipping, contacts and lots more from a single software and provides integration with platforms like Magento, Cs-cart, Shopify and marketplaces like Amazon, Ebay and more.
“We identified that in the current scenario; retailers in India are facing lot of issues related to inventory, order management and other important functions of online and offline retail business.” says Jayneel Patel, Founder, Orderhive, who believes that the biggest challenge for any online retailer is to track inventory and keep updating it in real-time. Keeping this in mind they have developed Orderhive in a way that it saves a user from separately logging in to his/her different seller accounts, rather automatically pulls inventory and orders listed on marketplaces, so that retailers can dedicate their time and resources on more important functions.
The company claims to be the 1st to release any such softwares in India. Moreover, Orderhive is a product of a company with 5 years of experience. “We are an ISO certificated company and vendors can trust on us for their data security” claims Jayneel.
It has received more than 200 signups and 60 vendors are already using it. Talking of its monetization model, the service allows users to use its platform on a subscription base, starting at INR 2599 per month for its standard package. It also allows a 30 days free of cost trial period.
The target audience for Orderhive are online retailers who extensively hold inventory, process orders on a daily basis and are finding it difficult to work on different systems at the same time, thus making mistakes which can cost the business heavily. As we can see the entry of a number of marketplaces emerging in Indian space and vendors trying to sell through them. When a retailer is selling through multiple channels, he/she is very much likely to face problems like centralized inventory, order processing and return management. That is where Orderhive and other similar inventory and order management platforms come in picture. Brightpearl, Stitch labs, Channeladvisor, Browntape are a few other platforms serving this niche.
According to Jayneel, India offers a significant scope for such businesses. “Shopclues claims having 10K vendors, Snapdeal claims having 25K vendors, eBay claims to have 50K vendors. All can be our customer. So market opportunity is awesome,” says Jayneel.
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