Marg ERP Eyes Partnerships To Fuel SMB FinServ Strategy

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Marg ERP, an India-based FinTech connecting small businesses to inventory management, accounting and enterprise resource planning (ERP) technology, has announced a partnership initiative to expand its SMB financial services footprint.

Reports in the Financial Express said on Monday (Dec. 30) that Marg ERP plans to add 100 additional channel partners to its platform in 2020 in a bid to strengthen its position with small businesses in India and 26 other countries. The company already has more than 1,200 channel partners in India.

“We are successfully simplifying inventory management, accounting, payments, GST compliance, sales, marketing, HR and other basic yet complex needs of last-mile MSMEs in India and other geographies,” the company said in its announcement. “We aim to add 100 more channel partners by next year to strengthen our network … with disruptive, efficient and affordable solutions.”

Marg ERP also highlighted the role that big data, artificial intelligence (AI) and machine learning will play in bolstering the company’s presence with small businesses by augmenting existing services.

The company did not indicate which partners it may work with or which services it plans to add.

Earlier last month, Marg ERP announced the development of a proprietary B2B payments platform for businesses in India.

“We have created an app through which small retailers can seamlessly make payment to distributors [that] are now sending their staff for collecting payment,” said Marg ERP Chairman and Managing Director Thakur Anup Singh in a statement at the time.

“If we achieve 20 percent of this, volume would be huge,” he added. “We want to create a business environment where a distributor can work with ease, and we are solving their problem. It will bring down their cost, improve efficiency and promote digital payment.”

Marg ERP is part of a growing community of FinTechs across India working to improve small businesses’ B2B operations via commerce, payments, financing and other services, as more conglomerates, including Walmart, also heighten their presence in India’s B2B FinTech arena.

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