NEW DELHI: Merrchant, a cloud-based business operating software launched two years ago by Raletta Technology, have made it easier for business enterprises to monitor their projects and manage them more efficiently.According to Navrajvir Singh Chabra and Ishaan Mishra, founders of the Indore-based firm, Merrchant is a one-stop solution and the only cloud-based business operating software solution that provides all enterprise-level features — including accounting, HRM, CRM, etc — in one place.
The software currently has 1,300 users who pay an average of $20 per month. Since it is cloud-based, the subscriptions are monthly, yearly or five-yearly. Merrchant accounts for 75 per cent of the firm’s total turnover ($1 million).
The realisation that there isn’t a single business operating software in the market that integrates all the business functions, even though the IT industry is dominated by small businesses and is expected to reach $2,461.1 billion by 2019, gave rise to the idea of Merrchant, said the founders, in their mid-20s. “We wanted to make business functions like accounting easier, effective and more user-friendly,” said Navrajvir.
“While softwares like Xero and Zoho reduce hassle for accountants, they don’t integrate all the necessary business functions in one platform,” he said.The competition is less but stiff when it comes to accounting, said Ishaan. While global competitors such as Xero, SAP and Zoho have well-established software, Tally ERP is the biggest Indian competitor.
Meanwhile, Merrchant too poses as a competitor to other applications such as Trello in project management, Shopify in POS and Salesforce in CRM, he said.“Our team will focus on winning new customers every day till the end of March 2019 and achieve the goal of having 10,000 daily active users. Once it gains traction, it wouldn’t be hard to gain one million daily users by 2019-end,” said Navrajvir.