Raymond is an aggressive player in the ready to wear apparel segment with reputed brands such as Park Avenue, Raymond Ready to Wear, ColorPlus & Parx that are a part of its product portfolio. The company has a massive offline reach with over 1100 exclusive stores spread across India. With an established dominance in the offline market, Raymond wanted to replicate their vast presence in the online landscape too. The underlying vision was to extend their product offerings to customers seeking the convenience of online shopping — by making their product catalog available on multiple channels.
While evaluating ecommerce partners who could turn Raymond aggressive ecommerce vision to reality, the team at Raymond wanted a partner with the following capabilities:
- Make inventory available on multiple channels: Enable allocation of inventory to channels in a manner to achieve maximum sales with the most optimum inventory hold.
- Efficiently fulfil orders: Store inventory and manage order processing as per channel-specific guidelines.
- Enable next day delivery: Quick turnaround by picking, packing and shipping multiple times in a day.
- Exhibit Accountability: Access to single source of truth for inventory, orders and returns.
- Payment analytics: Give up-to-date insights on the payment status of various channel partners.
After having done a thorough market comparison across various service providers, the team at Raymond realised that Eshopbox was the most suitable solution that could answer their business needs.
Eshopbox team understood early on that to meet Raymond’s business expectations and earn their trust, accountability would be the pivotal challenge to be addressed. Varun heads integration initiatives at Eshopbox. In Varun’s words, "We drew a simple roadmap - help Raymond’s integrate their ERP with Eshopbox system first and then enable ecommerce operations."
The solution proposed by Eshopbox had the following features:
- 5 min sync to maintain inventory accuracy with automated product updates and inventory changes across marketplaces.
- Create multiple cut-off processing times (CPTs) for packing orders round the clock to enable quick delivery to customers.
- Integrate Eshopbox system with Raymond ERP (i.e SAP), replicating every transaction from:
- Item receiving at Eshopbox FC to invoicing customers in their ERP.
- Customer return processing at Eshopbox FC to issuing credit notes in their ERP.
- Record channel agreements using Eshopbox reconciliation engine to track short payments, overdues, and incorrect channel expenses.
After working closely with Eshopbox, Raymond witnessed 8x sales growth in 6 months. They were particularly impressed with:
- Complete transparency and accountability with Eshopbox acting as a single source of truth - ease of operations for the finance team with every transaction recorded in Raymond's ERP in real-time
- Up-to-date payment insights for 13 channels.
- High sell-through achieved with 44% less inventory exposure
- Achieved an on-time order processing accuracy of 99.95% of their overall orders.
- Became a Flipkart Gold seller within 4 months of operation
With Eshopbox, the visibility of our ecommerce operations has gone up multifold, giving us better understanding and control. The integration of our ERP with the Eshopbox app ensures compliance and data hygiene. Additionally, the Eshopbox app allows us to digitise our marketplace terms and commercials. This helps us reconcile our payments and channel expenses for every customer order.