Marg ERP Ltd., an inventory management and accounting software company providing solutions to MSMEs, including pharma distributors and chemists, is planning to unveil a business-to-business (B2B) payments platform to facilitate electronic transfer of payments between its 2.50 lakh MSME clients across India.
“We have created an app through which small retailers can seamlessly make payment to distributors who are now sending their staff for collecting payment. Only in the pharma sector, ₹1.25 lakh crore payments are made to distributors. If we achieve 20% of this, the volume would be huge,” said Thakur Anup Singh, chairman and managing director, Marg ERP Ltd.
“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,” he said.
ADVERTISEMENT
“Now the beta version has been launched and we have already helped in collection of payments worth ₹600 crore per month. We are expecting it would reach around ₹10,000 crore per month from next year.,” he added.
He said the solution will be rolled out nationally through the company’s 850 support and sales centres.
“With our cost-effective solution which a small retailer can afford, the efficiencies at their level has gone up substantially. We are enabling them to compete with e-retailers and helping them to comply with GST rules,” he said.
ADVERTISEMENT
Ends