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Oct 9, 2018 — According to the United States Department of Trade, Small and Medium Sized Enterprises (SME’s) are the backbone of the economy in the United States. In the US nearly half of the private work force (47.5%) is employed by a Small to Medium Sized Business.
Computer systems in combination with some type of enterprise software are now a staple in virtually all office and enterprise environments. Over the course of the past 20 years, large Corporations and a small number of SME’s have been able to take advantage of a Software Suite known as an Enterprise Resource Planning system - all-in-one software that can manage data and processes all within a single platform, combining capabilities for:
•Customer Relationship Management (CRM)
•Human Resources Management
While early ERP systems were offered as only On-Premise deployment, for the majority of SME’s this model was not attractive enough in pricing to justify its benefit. Additionally, ERP systems are challenging to configure, where still today almost all of the available solutions (Cloud or On-Premise) have been more tailored for large sized enterprises (typically Fortune 1000 Companies, and Companies near and above $300M in annual revenue).
This Company has created an ERP system which is a Software-as-a-Service (SaaS) Cloud-based end-to-end multi-tenant solution for an underserved SME marketplace with a focus on Wholesale Distribution. ERP software is the largest segment of Enterprise Software, and the Company’s addressable market, Wholesale Distribution, is the largest sub-segment of this ERP market. With over 30 years of deep domain expertise in the SME market, and customers who have been using its legacy software for over 20 years, they offer an advanced Cloud solution for a market that they believe has only two real current competitors:
•NetSuite – owned by Oracle, expensive, little flexibility on capabilities and price, focused on large enterprise
•Acumatica – Lacking in features and functionality needed for wholesale distribution
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