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Tuesday, October 20, 2020

Merrchant Delivers a Complete Cloud-Based Solution to Perform and Simplify Operations for All Types of Businesses

Merrchant Delivers A Complete Cloud Based Solution

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Eric Bank
By: Eric Bank
Updated: October 19, 2020

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In a Nutshell: Merrchant is an all-in-one, cloud-based software solution that runs general business functions such as bookkeeping, payroll, and customer relationship management (CRM), among other notable services, for medium to large companies. It costs 80% less than popular ERM platforms, such as SAP and Oracle’s NetSuite, while providing the same or better functionality. Furthermore, users can request customizations to handle unique requirements. Merrchant provides 24/7 customer support with a dedicated specialist who provides continuity of service over time.

Many large businesses have experienced numerous problems when trying to integrate a hodgepodge of purchased and internally developed software. Attempting to get different software packages to communicate with one another can result in redundant data, processing errors, compromised security, and higher costs.

That’s why single-source enterprise resource management (ERM) software, such as NetSuite and SAP, is very often the top choice among large businesses. The rub: sticker shock at the high prices.

This situation was on the mind of Navrajvir Singh after attending a crowded venue: “Ishan Mishra and I were sitting in a movie. When we came out, we discussed the huge demand for movies in India. Soon the conversation shifted to another market with huge demand — online accounting in India.”

Singh said he was frustrated at how difficult it was to use separate websites for different business functions. That was an opportunity they wanted to address, so they started building an affordable, customizable suite of accounting and operational modules.

The goal was a one-stop, cloud-based software solution to meet the operational needs of large businesses. They soon realized they could expand it globally, and Merrchant was the result.

“We have more than 510 clients right now. Most of them are businesses that have done more than $10 million per year,” said Singh, who is now the CEO of Merrchant.

Merrchant Provides Core Operational Support Plus Customizations to Large Businesses

From the start, Merrchant has focused on providing tailored solutions for large businesses.

“We focus on enterprise and other big clients because most of the companies out there are looking for accounting customized for their businesses — the big businesses. Small businesses are comfortable with software like QuickBooks and Xero. But the problem with those solutions is that they don’t integrate with other business functions,” said Singh.

Merrchant is built upon the cloud, where all data is stored in an integrated, optimized database. Users have online access to a suite of functions, including accounting, project management, inventory control, human resource management, retail POS with payment gateway, and customer relationship management (CRM), among other features. The accounting functionality extends to payroll management, invoicing, payments, and bank account reconciliation.

Merrchant customers receive a rich set of features in the basic product, including:

  • Easy login
  • Email integration
  • Internal chat support
  • Support for multiple languages and currencies
  • Powerful reporting, including intra-company and subsidiaries
  • Mobile and tablet extensions
  • Open API
  • Easy customization

Merrchant’s CRM module with Lead Algorithm is particularly popular.

“We have a team of professionals who help customers use our software to get more leads in the digital era. Many users have been getting leads online digitally through different brokers, such as AdWords, Facebook, and other platforms for search engine optimization. Our software is coded for this function. Most of our customers are using the code and are quite happy with it,” said Singh.

Screenshot of the Merrchant Dashboard

The Merrchant Dashboard, where customers can easily access the software’s services, is the hub of all business functions.

The CRM module features lead management that divides leads into funnels, teams, and stages. The associated Ticket Desk function lets users manage customer queries with just a few clicks. Other CRM features include search engine optimization, social media and influencer marketing, social advertising, search engine marketing, public relations, and much more.

Navrajvir Singh and Shristi Patni

Merrchant CEO Navrajvir Singh and Chief Content Officer Shristi Patni.

Companies can also find educational content on the Merrchant blog that includes tips, hacks, and advice for businesses and entrepreneurs. Articles are contributed by industry professionals and experts, such as Marla DiCarlo, CEO of Raincatcher, and Natalie Harris-Briggs, VP of Marketing at Avocor, to name a few.

All of the content is managed by Merrchant’s Chief Content Officer, Shristi Patni.

Popular business topics include ways to increase employee engagement and ROI, how to create winning customer journeys, ways to make a business eco-friendly, and ways to optimize supply chain management, among others.

Merrchant is also known for providing the best internship in Indore in the field of digital marketing and animation.

Save 80% While Getting the Functionality of SAP and Oracle NetSuite

Integrated enterprise software is not new, but it is notoriously expensive. Merrchant takes a different approach, with pricing that is up to 80% less than Oracle NetSuite and SAP.

“We are a small team of 50 people. So, our expenses are low,” said Singh. “That’s why we are able to provide our product for a cheaper price. I read an article where our competitors charge a minimum of $20,000 per year. We charge from $9,000 and that is a lifetime cost, not a yearly cost. That’s a big difference.”

Merrchant CEO Navrajvir Singh Speaking at TEDx

Navrajvir Singh, CEO and co-founder of Merrchant, gave a TEDx Talk in 2019 on the banking transaction tax in India.

Basing Merrchant in the cloud is also a money-saver. Clients don’t have to invest in their own storage hardware and system maintenance personnel. Users get complete backups and automatic software updates, freeing them from hassles such as downloading data or installing updates.

Customers Receive World-Class 24/7 Support from a Dedicated Technician

Merrchant distinguishes itself from its competitors by assigning a dedicated technician to each customer.

“We provide a dedicated full-time technician who is available 24/7 to the customer,” said Singh. “We’ll give you one live person dedicated to you completely. The relationship is close, and the customer is happy that they’re speaking to the same person as the last time they called. That’s one more benefit we offer.”

Client support extends to software customization requests. Customers can ask for unique features that meld the software to fit their operations. New data items are integrated properly into the cloud-based database to maintain the user’s informational integrity.

In addition, Merrchant receives continual upgrades and fixes that are automatically applied in the cloud. This is important for ensuring the integrity of custom processes and data. Clients do not have to budget for expensive data storage equipment or trained personnel to operate hardware and software.

Merrchant Logo

Merrchant joins a select group of software-as-a-service (SaaS) providers that offer cloud-based modular systems. Manufacturers are the largest clients for Merrchant, but all types of medium-to-mega corporations around the globe can benefit by using it to stitch together finance, employees, leads, and sales.

Merrchant’s unique business model charges a one-time fee to users rather than an annual subscription. By combining full-feature integration, low prices, customizations tailored to each business, and outstanding customer support, Merrchant poses a significant challenge worldwide to its more expensive competitors.