ERP (Enterprise Resource Planning) is a type of software that allows businesses to manage and automate various core functions, such as finance, human resources, supply chain, and sales. The primary purpose of an ERP system is to streamline and integrate different business processes into a single platform, thereby reducing manual intervention and increasing efficiency.

ERP was first introduced in the 1990s, and it became an important tool for businesses due to its ability to provide synchronized data, improve decision-making, and reduce errors. As businesses grew, so did the need for more complex and sophisticated systems to manage their operations. ERP provided the solution to this problem by integrating different functions into one platform, which improved accuracy and reduced the time required to process data.

However, ERP also had some limitations, including a lack of scalability,  limited customization options and more. This made it unsuitable for businesses that needed to sell across multiple channels, such as B2B, B2C, retail, ecommerce, distributors, and cross-border. These businesses often had to scramble together different solutions to make ERP work, which was not always scalable, deep tech, or easily customizable.

The Shortcomings of Traditional ERP Systems

Integration with Third-Party Systems

Traditional ERP systems, despite their popularity and widespread use in businesses, have significant limitations in the context of open and digital commerce. These limitations stem from their outdated design and architecture, which was created in an era where the focus was on batch processing, centralized data storage, and a closed system. In today’s open commerce environment, where businesses must be able to integrate with multiple third-party systems, provide real-time updates, and accommodate changing business models, traditional ERP systems are often not able to meet these demands.

Data Silos

One of the key limitations of traditional ERP systems in open commerce is the complexity to integrate with third-party systems. In an open commerce environment, businesses need to be able to seamlessly integrate with payment gateways, shipping carriers, marketplaces, and other systems to provide a seamless customer experience. However, traditional ERP systems may struggle with this level of integration, leading to data inconsistencies and inefficiencies. This can result in poor data visibility and coordination between different parts of the business, leading to negative impacts on decision-making and customer experience.

Complexity

Another significant limitation of traditional ERP systems is their complexity. ERP systems can be difficult to use, especially for small and medium-sized businesses, due to their steep learning curve, complex user interfaces, and the need for specialized training. This complexity can lead to increased costs for training and support, lower efficiency, and reduced productivity.

Customization Limitations

Customizing traditional ERP systems to meet the unique needs of a business can also be a challenge, as they can be time-consuming and expensive to modify. This lack of customization can limit the ability of businesses to quickly and easily adapt to changing market conditions, which is critical in the fast-paced and constantly evolving open commerce landscape.

Lack of Flexibility

Finally, traditional ERP systems often operate in a siloed manner, with data being stored and processed in separate systems and departments. This can lead to a lack of data visibility and coordination between different parts of the business, resulting in suboptimal decision-making and a poor customer experience.

To overcome these limitations and better support the needs of open commerce businesses, new solutions, and platforms that are built on web 3.0 technologies, such as blockchain and decentralized platforms, are emerging as the preferred choice. These solutions offer improved scalability, security, and data integration capabilities, making them better equipped to handle the demands of the digital economy.

Connecting ERP to the Commerce Stack with Eunimart

To address these issues, Eunimart has developed a platform that connects ERP systems to commerce stacks, enabling organizations to overcome the limitations of traditional ERP systems.

Conversational Commerce

Eunimart offers a number of innovative solutions that help businesses overcome the challenges associated with traditional ERP systems. One of them being, conversational commerce that allows businesses to interact with customers through chatbots such as WhatsApp, using voice and text in local languages. This helps to improve the customer experience by making it easier for customers to interact with businesses and make purchases.

Deep Tech

In addition to conversational commerce, Eunimart also provides a range of deep tech solutions, once such being, AI-powered cataloging as a service that allows businesses to create catalogs from a video of their store via Whatsapp or can be done by mentioning their category and location. Cataloging can be done through voice or text in local language and image search. Similarly, other AI capabilities are demand and supply prediction, fraud detection, financial badging, supply chain predictions, pricing and content generation, and OCR. These solutions help businesses to make better decisions, improve efficiency, and stay ahead of the competition.

Blockchain

Eunimart’s blockchain IP is built on Hyperledger Fabric, with a proprietary consensus and incentive mechanism. With blockchain, businesses can ensure that their transactions are secure and transparent and that the information they are using is accurate and up-to-date.

Entire Tech Stack for Commerce

Eunimart also offers an entire tech stack for commerce, including marketing, supply chain/logistics, operations, finance, and more. This comprehensive solution connects all channels of sales, including B2B, B2C, retail, ecommerce, domestic and cross-border, making it easier for businesses to manage their operations and reach customers wherever they are.

Marketplace Builder

For enterprises looking to build internal and external, B2B and B2C marketplaces, Eunimart provides a marketplace builder that makes it easy to do so. With its tech stack and deep tech capabilities, businesses can quickly and easily create new marketplaces that meet their unique needs.

Omnichannel

Finally, Eunimart offers omnichannel capabilities that enable businesses to sell across multiple channels, connecting all their functions and verticals on the same platform. With conversational commerce, businesses can connect end customers to the closest retailers, retailers to distributors, and all of them to the central supply chain, making it easier to manage operations and improve the customer experience.

In conclusion, Eunimart offers a comprehensive solution for businesses operating in open commerce that addresses the limitations of traditional ERP systems. With its conversational commerce, deep tech solutions, blockchain technology, and comprehensive tech stack for commerce, businesses can leverage Eunimart to connect with ERP systems in a seamless and efficient manner. By integrating with the latest technology and tools, Eunimart helps businesses streamline their processes, make informed decisions, and improve customer experiences. And, also makes Eunimart a reference platform for ONDC, providing businesses with the tools they need to thrive.