#ProsperityCircle: How the Intuit Circles partnership has helped EasyEcom to ease the inventory management process for their customers
Intuit Circles helps startups grow their businesses by providing them access to a personal ecosystem of mentors, a thriving community of peers, investors and partners like co-working spaces, incubators and accountants. They help startups become financially successful through financial management training and access to Intuit’s flagship financial management software for small businesses - QuickBooks Online. The program also enables tech startups to partner with Intuit to collaboratively develop solutions for the 4.2 million global customers of QuickBooks Online by integrating their product on its platform.
One among the startups in their Circles is EasyEcom, an omni-channel inventory management solution which enables small scale merchants, manufacturers and retailers to sell their products online.
An end-to-end inventory and order management solution
EasyEcom was founded in February 2014 by Punit Gupta, with a vision to help small to medium-sized businesses sell online. “The retail landscape is changing like never before. Now consumers are researching and buying products online. Additionally, for new brands, it has become easier to launch their product lines and gain traction without having to set up the whole supply chain,” says Punit. Every product category is getting disrupted by such direct-to-consumer brands. Punit adds, “A new retail environment requires companies to manage their inventory and orders from across platforms. Managing payments, returns and profitability is a very complex task. Traditional systems do not cater to these new-age sales channels.”
There was a clear unmet requirement in the market globally that EasyEcom aimed to solve by providing an end-to-end inventory and order management solution. The company is an analytics-driven omni-channel inventory management solution that provides a SaaS-based solution for small to medium sized retail customers. A number of brands and their resellers use EasyEcom solution today to conduct business across channels.
They essentially provide a single dashboard for a company that is selling across multiple e-commerce channels like Amazon, eBay, Flipkart, etc. Through this dashboard, they can manage their entire inventory process, right from creating purchase orders to quality checks to warehousing and even shipping integration.
One more problem they solve is returns in e-commerce. When a customer doesn’t like a product they receive and sends it back, how do you manage that process? “You need to first manage the inventory part, the second is managing the quality check and then thirdly, you need to generate the credit note. Imagine doing all this manually, it was too tedious,” says Punit.
They went ahead and automated the entire reconciliation of returns process. “Have you been paid correctly by the ecommerce platform? Have you been charged incorrectly for logistics? All these queries are completely automated,” he says. Because of the cloud-based accounting system, some of their clients have been able to process 2000 orders a day from previously managing just 60 orders for the same time frame.
Simplifying the accounting process through automation
For EasyEcom, financial management is a critical element for its customers. Anyone selling through multiple online channels has a tough time tracking their sales, returns, payments, etc. Due to the complexity of the ecommerce business and the number of parties involved, managing profitability becomes critical.
Here is where their integration with QuickBooks Online helps EasyEcom. In addition, being a part of the Intuit Circles programme helped expedite the integration, says Punit. The process of automating the entire accounting process became pretty straightforward after the integration. All invoices, credit notes and records, automatically sync with QuickBooks Online now, with no manual input required.
With over 4.2 million customers globally, QuickBooks Online has one of the largest small business app ecosystem platforms. Being part of the programme has given EasyEcom access to global markets, and they are able to now target small businesses across the globe. “We are proceeding to establish EasyEcom on the global map and working very closely with partners like QuickBooks to promote our product in the existing customer space,” says Punit.
The founders envision EasyEcom as one of the leading providers of multi-channel inventory and order management platform worldwide and strongly recommend the Intuit Circles programme, which is helping them in this journey. “The team at Intuit Circles is super supportive. We get exposure and visibility across markets and the startup ecosystem,” says Punit.
Watch how Intuit Circles helped EasyEcom integrate with QuickBooks Online to ease the financial management process for their customers.
Like EasyEcom, you too can scale your business quickly with the help of Intuit Circles. If you are a startup looking to get financially successful or have a product solution that can integrate with QuickBooks Online, click here to apply for the programme.