Tech in Baby Steps (Baby Step 2)

Continuing from last week, where we deep-dived into penetrating the seemingly impenetrable B2B tech (an industry plagued with very low tech adoption).

And hence, baby steps and patience are needed to tackle it. Last week, we covered lead acquisition and the OfBusiness’ way of doing it. Today, we cover ERP. One such product that, in the minds of everyone, is so commoditized that having a great ERP is not even considered tech.

We beg to differ. At OfBusiness, the first ever product we built was our own ERP backbone, Oasys (pics attached). A great ERP, for us, is a precursor to a great business. And for us, an ERP that mimics our process is freely customizable to our requirements and owned by us was essential for cost, process and data controls.

Hence, we built it for ourselves, right from scratch. Our business processes ranging from marketing to financing, fulfilment, operations were built on this single platform. And this platform integrates across manufacturing, global trade, bank lending, direct/ indirect tax and compliance (like eWay bill, esign, einvoice). All with complete audit trails. With micro-service architecture, cloud deployment and mobile friendliness. And with each passing day, the system gets more intelligent to further business.

And the results are industry-defining. We hardly have any data or revenue leakages; we have never worried about those. Our whole ecosystem is on it; internally, all our teams and the external members (buyers, suppliers, fulfilment partners) are steadily going on it (adoption to reach 100% in 3-6 months). From a cost controls’ standpoint, Oxyzo (our financial services company) operates at an opex of <2.2% of AuM and OfBusiness at an opex of <1% revenue, both metrics are industry-defining in their categories.

While the world believes that ERP is commodity-tech, we believe it’s the starting block of dhanda-tech. If you are a B2B company, that’s the 2nd to solve for after lead acquisition.

To the creators @Udayaditya Dwivedi @Sameer Kumar, @Shubham Mehta @Nishant Kumar @Saurabh Sharma @Priyanshu Goel under the leadership of @Bhuvan Gupta.

Read more from CEO speaks Column:-
– Tech in Baby Steps (Baby step 1)
– Living on Less