Many retailers struggle with accurately tracking their inventory, with less than 31% knowing the true status of their stock. This is often due to communication breakdowns and discrepancies between various systems, including e-commerce storefronts, marketplaces, POS, OMS, WMS, and ERP. As a result, this can lead to lost revenue and low conversion rates. Fortunately, Ekyam offers an AI-integrated solution that improves communication and data flow across all platforms while optimizing revenue growth.
Retailers today face significant challenges due to the fragmented nature of their technology systems. Founder Abi Sachdeva explains, "Since 2017, I've noticed that the retail industry is growing with various technologies, but these systems are often built within their own ecosystems. ERPs, e-commerce platforms like Shopify, OMS, and WMS systems all grow in silos. Asking retailers to unify all these systems is costly and complex."
Ekyam addresses these issues by connecting all of the disparate systems to create a unified platform that doesn't require retailers to overhaul their existing infrastructure. Its solution focuses specifically on the retail sector, ensuring real-time, accurate inventory tracking and order routing.
Ekyam's platform provides a comprehensive user interface where retailers can manage their entire inventory system. Sachdeva spotlights the efficiency of Ekyam's integration, "When a consumer returns a product to a store, it can take up to six days before the product is back in stock and available for purchase. However, with our system, integrating point of sale, ERP, and e-commerce systems, a returned product can be restocked and available for purchase within 15 minutes. This allows retailers to sell returned products almost instantly, instead of waiting for the usual restocking period."
Ekyam also empowers marketing teams by providing real-time, accurate inventory data, ensuring that promotional efforts are aligned with actual product availability. This integration across various silos allows marketers to create targeted and personalized campaigns, avoiding the frustration of promoting out-of-stock items. By leveraging Ekyam's AI-powered insights, marketing teams can optimize their advertising spend, focusing on products with sufficient inventory and high demand.
Additionally, Ekyam's seamless data synchronization supports consistent messaging across all channels, enhancing the customer experience and driving higher conversion rates. This data-driven approach enables marketing teams to execute more effective campaigns, improving customer satisfaction and boosting sales. Likewise, it boosts customer satisfaction and trust by ensuring reliable product availability and efficient returns management, thus improving overall customer experience and recovering potential revenue from returned items.
Additionally, Ekyam simplifies integration and reduces costs for retailers by handling all data management while eliminating the need for a large engineering team. The platform includes a dashboard with reporting mechanisms, options to create new connections for seamless integration, and real-time insights into inventory and order routing. "Retailers have their POS systems, fulfillment systems, e-commerce platforms, and resource management tools all siloed. We aggregate all that data into an easy-to-understand platform, taking care of maintenance and updates so that retailers don't need extensive engineering teams," notes Sachdeva.
Ekyam stands out for focusing solely on the retail sector, unlike its competitors, who offer broad solutions for various industries. "Our competition, like Celigo, operates in a different manner. Celigo's or Boomi's approach is similar to an ETL (Extract, Transform, Load) process, which often faces challenges. For instance, a client of ours is struggling with Celigo's system: when a shipment containing 20,000 products arrives at their distribution center, it takes Celigo 45 minutes to sync the inventory between their third-party logistics (3PL) and ERP systems, and often, the job fails, requiring manual intervention. This results in costly and significant time and resource wastage."
Alternatively, Ekyam's solution directly connects to the retailer's ERP and 3PL systems, ensuring continuous data flow and real-time syncing without manual management. This targeted approach makes Ekyam more effective for retailers by providing specialized and efficient integration solutions tailored to their needs.
Ekyam's AI-integrated platform is modernizing retail technology integration by unifying disparate systems and providing real-time, accurate inventory tracking. By focusing exclusively on the retail sector, Ekyam offers a tailored solution that simplifies operations, reduces costs, and enhances revenue growth for retailers.
Join Ekyam today and help retailers optimize their inventory management, streamline order routing, and achieve greater operational efficiency.
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