Not so long ago, shopping meant making lists, kicking out, going to a store, and shopping. But in the age of digitization, customers can buy from offline shops as well as via various channels such as online marketplaces, branded web shops and social media channels.
Former HCL Technologies colleagues Venkataramana Rao Nott, Deepak Singla, Annajee Rao Nott and Piyush Madan recognized the opportunity in omnichannel retail.
The colleagues who worked at HCL developing the retail and supply chain verticals started Noida-based Vinculum, a global software company enabling omnichannel retail.
The startup offers full-stack omnichannel SaaS software that helps brands and retailers sell across distribution channels, meet from any location, and easily scale their business.
Connect with Vinculum Group Venkataramana, Founder and CEO, says, “Every brand today sells through multiple channels. Our software platform enables brands to offer products on all channels. Once the product is listed and sold, the platform also helps them manage orders, inventory and shipping from one central location. In this way, all orders – from every channel – can be managed from a single platform. “
Enable omnichannel retail
According to the CEO, the company’s core product, Vin eRetail VMS, is enables brands to offer their products in web shops and online marketplaces such as Amazon, eBay, Flipkart, Lazada Myntra, Nykaa, among others. It also helps brands list, manage, and sell products through social media channels, offline stores, franchisees, and distributors.
Connect with the Vinculum Group
Venkatramana explains that the software gives brands Access to the Vin PIM tool for onboarding and tracking product informationn. The Vin Lister tool helps brands to automatically enter product details on multiple marketplaces.
Vin OMS helps brands manage orders, inventory, returns, and fulfillment across multiple marketplaces. In addition, the company also enables tool-based payment reconciliation to manage customer returns and track payments through its Vin Reco tool.
“We’re helping enable omnichannel retail by enabling online orders to be fulfilled through inventory in our own warehouses, third-party warehouses, our own stores and franchises, among other things,” he says.
Figure: YS design
Venkataramana adds that all tools are available as part of the software. Brands can also subscribe to specific tools as needed.
“In the midst of the COVID-19 pandemic, orders through online channels have increased, resulting in inventory build-up at offline retailers. One use case is to enable the fulfillment of online orders by taking stock of retailers, and direct delivery to consumers through connection with last mile providers. This way, traditional brands can get straight to the consumer, ”he explains.
The flagship product was also part of the Gartner Magic Quadrant for Warehouse Management Systems from 2017 to 2020.
Business and more
The co-founder did not disclose pricing details, but says the company operates on a price-per-order model. It works with around 800 customers in India as well as in the SEA and MEA regions.
“Our customers include brands such as P&G, Swiggy, Shadowfax, Bewakoof, Bata, Titan, BodyShop,” says Venkataramana.
He also claims that Vinculum is working with Enterprise Singapore, a statutory body of the Singapore Department of Commerce and Industry, to help local Singapore brands sell through global distribution channels.
The B series company has raised a total of US $ 18 million to date. It is supported by VCs like Accel Partners, Ivycap Ventures, RB Investments and Angling like Song Hoi See (Founder of Plaza Premium Lounges), Ajay Gupta, Brad Brown (Ex Mckinsey Global Partners) and Neil Araujo (Founder of iManage). .
According to a NASSCOM report, India is SaaS revenue reached $ 3.5 billion in FY20. The report also revealed that the SaaS-only industry in India has the potential to grow to $ 13-15 billion by 2025. Several SaaS giants like Zoho and Freshworks are fighting for market leadership in this segment.
Vinculum competes with other big name players like Mirakl and Sterling Commerce.
Regarding future plans, the founder announced that the company is currently “focused on 2X year-on-year growth”.
Connect with the Vinculum Group Edited by Teja Lele Desai