Effitrac is an end-to-end technology SaaS platform that helps small and medium businesses to optimize their time, money, and resources. Effitrac offers state-of-the-art backend business solutions ranging from inventory management and accounting and financial compliance to CRM and HR and Payroll solutions on top of which startups can build their customer-facing tech products with ease.
Here is an excerpt from an interaction with the Founder & CEO of Effitrac, Logesh Velusamy.
Prateek: Why the retail and e-commerce startups must move from the traditional ecosystem to digital ones?
Logesh: A single offline sales channel is no longer viable. Restrictions in mobility due to the pandemic have changed the shopping habits of consumers and a number of them, who were earlier wary of shopping online, have adopted e-commerce. Adopting new digital sales channels is no longer just an option; it is a must-have to stay in the business. Since Effitrac offers SMB clients tools and solutions to easily and painlessly add on the e-commerce sales channels and integrate their backend and inventory across multiple channels, we have been able to clearly see the benefits gained by companies who quickly moved online during the first wave. We have seen increased interest from others after the second wave.
Prateek: How Effitrac helps startups in their Go-To-Market strategy with technology and APIs?
Logesh: Building a product from scratch, especially for a young startup with limited resources, is a daunting task. It takes a lot of time, money, and resources – all of which a startup is short in supply. When creating a product, it is not just the customer-facing interface that needs to be considered. Everything that goes on behind that interface needs to be seamlessly integrated. This is tough. Effitrac’s business process and e-commerce platform APIs take care of behind-the-scenes business operations technology – the nuts and bolts of business operations from CRM and ERP to Finance & Accounting and Payroll. By using our APIs, startups can cut their go-to-market time by half and spend less than one-third the cost compared to the nearest open-source solutions and less than one-tenth the cost compared to branded software solutions. This is a significant saving as far as startups are concerned.
Prateek: Can startups give competition to big players for the significant marketplace through the right API models?
Logesh: Access to the right technology at the right time will definitely help accelerate the business. One of the key elements of success in the e-commerce/marketplace industry is technology. Instead of building a solution from scratch, Startups can use the existing solutions like Effitrac’s modular platform through its APIs and leverage the benefits.
Prateek: How has the fast-changing digital ecosystem raised the expectations among startups, customers, and SaaS providers?
Logesh: Fast changing digital ecosystem has transformed consumer habits, experience, and definitely expectations as well. Mobile apps, machine learning, and RPA tools are allowing customers to discover what they want and get it with ease that was unimaginable even a few years ago. The modern buyer is connected, app native, and aware of what they can do or get with technology.
Startups & SaaS providers had to upgrade their customer experience by adopting such latest technologies. Similarly, startups and SaaS companies have new and powerful technology at their disposal. They can not only create delight for their customers but can also use technology to make running a business easier for them. So, there is an increased sense of expectations and ambitions among startups and SaaS providers as well.
Prateek: How the Effitrac APIs can help AgriTech startups in taking their products to the marketplace?
Logesh: Agritech companies need simple but powerful interfaces for not just their end customers but also for the farmers who use their apps and websites. Further, they have complex supply chain and inventory requirements. Effitrac, with its business rule engine-based modules, helps them quickly put together and integrate the customer-facing app with ERP and customize the end product as per their needs without the need for developing from scratch. Agritech startup can leverage the following modules to build their final tech solution:
- Finance & Accounts & GST Filing
- Supply Chain
- Inventory Management
- Point of Sales
- Order Management solution for Market Place
- Process Manufacturing Module
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