Future ERPs to incorporate ML & AI to minimize human efforts, integrate with cryptocurrency along with blockchain based accounting modules: CA Kunal Singhal, MD Eazy ERP

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CA Kunal Singhal, MD, Eazy ERP

Coordinating efforts is crucial for survival of a business today. Consumers demand better products and services in lesser time. An ERP software helps organizations make the best use of all resources by streamlining and coordinating efforts of different departments and thus, in fulfilling current market demands.

It centralizes all the information on a common platform that help companies get quicker insights, aiding better and faster decision making. With the introduction of new financial reforms like GST, more businesses are adopting ERP solutions and cloud technology has definitely made them more affordable as companies don’t have to maintain the IT infrastructure for managing their ERP software anymore.

We sat down for an exclusive interview with CA Kunal Singhal, MD, Eazy ERP, the first ERP Software empaneled under Digital MSME Scheme with the Ministry of MSME, and a winner of ICEIL Award for Outstanding Excellence in Global Business category.

Here’re his views on how new technologies like big data, blockchain, IoT, AI, ML etc. empower ERP in facilitating faster production systems and in increasing the efficiency, drawbacks of traditional distributor management process and how EAZY ERP enhances the power of Tally.

1. What is the focus of EAZY Business Solutions? Please elaborate on your journey from inception till date.

 EAZY Business Solutions focuses on the IT empowerment of the SME sector. We aim to provide world class technology to the SME sector keeping in mind their inhibitions & problems.

The inception of this idea to start a venture focusing on the growing SME landscape of the country was embarked in my mind at the very initial days of my career. I am a Chartered Accountant by profession and a technologist & core developer by passion. It was this passion which made me look for different paths instead of the traditional CA practice and the family Real Estate business.

During this time, I figured out the gap between technology and Indian SME industry. I realized that this was due to budget constraints, lack of awareness, unskilled manpower etc. But these small & medium scale manufacturers were still using Tally for their accounting needs. That’s where the concept for EAZY ERP was born.

EAZY ERP Technologies Pvt. Ltd was established in 2007, and it’s the first enterprise level ERP which does not have a finance module of its own. Instead, it uses Tally as a finance module which is deeply integrated with all its modules. This allows medium sized industries to easily adapt to new systems without making any changes in Finance sphere. Thus moving to EAZY ERP requires minimum change management and is also not a financial burden on the SME sector as it offers very attractive pricing models.

2. How does EAZY ERP help clients to improve their operational efficiency, while staying within their budget?

EAZY ERP facilitates perfect level of coordination among different operational processes of a company and thus helps in achieving operational excellence that enhances customer service capacity and quality, while reducing operational time as well as cost.

It helps gain competitive advantage by streamlining, organizing and optimizing operational processes of a manufacturing company, including procurement and logistics execution, inventory management, product development, manufacturing, sales and services.

EAZY ERP has been specifically designed to keep in mind the budget constraints of the SME sector – offering a one-time payment model as well as monthly subscription model.

3. EAZY ERP is a powerful Tally Integrated ERP solution that uses Tally as an accounting module. Please brief us about this unique feature of your ERP solution.

Tally is a recognized accounting software globally, known for its expertise in handling complex finance and accounting related activities. It is being used by over a million users in India itself. EAZY ERP partnered with Tally to create a robust ERP system that leverages the power of Tally and facilitates end-to-end automation of workflow of all departments of a company.

Companies don’t need to change their accounting process as they grow in size for managing their operations such as procurement, inventory, manufacturing, distribution, sales, marketing etc. Moreover, EAZY ERP also enhances the power of Tally by enabling additional features within Tally software.

4. Today, industries and organizations are at the threshold of digital transformation, a necessary disruption for businesses to survive. Please shed some light on the significance of ERP software and its role in organizations’ digital transformation strategy.

Coordinating an organization’s efforts is crucial for the survival of a business in today’s market scenario. Consumers demand better products and services in lesser time. ERP helps organizations make the best use of all its resources by streamlining and coordinating efforts of different departments that enable these organizations to fulfill current market demands.

More importantly, it centralizes all the information on a common platform that enables companies to get quicker insights on each department that aids better and faster decision making.

These days, ERPs are available on cloud which is a good start for growing companies as the cost of on-premise software is very high. Idea is to empower organizations of all size and structures which makes cloud version ideal for those wanting to improve their efficiency. Cloud version eliminates the unnecessary infrastructure cost, while providing the same set of functionalities without pinching pockets of an organization.

5. Please share your vision about the future of ERP as a digital tool. Is EAZY ERP digital transformation ready?

Not many will argue about the benefits of an ERP.  With new financial reforms like GST being introduced, more and more businesses are adopting ERP solution and cloud technology has definitely made it affordable. Companies don’t have to maintain the IT infrastructure for managing ERP software anymore. EAZY ERP also has its own SAAS model for micro and small sized firms.

When we talk about the future of ERP, we are looking at integration with Internet of Things (IoT) to automate the information flow from devices to different departments of an organization. ERPs in the future are also expected to have Machine Learning (ML) and Artificial Intelligence (AI) capabilities that will minimize human efforts in terms of inventory management, customer relations, manufacturing, procurement etc. ERPs in future will also have the ability to integrate with crypto-currency along with block-chain based accounting modules.

6. What is Industry 4.0 in automation and data exchange in information technology? Please shed some light.

Industry 4.0 connotes the fourth industrial revolution in the global manufacturing sector in terms of production process and management. The impact of exchange of information is so huge that it has changed the way factories manufacture products.

IoT and AI/ML have made it possible to gather and analyze data across multiple machines to facilitate faster, more flexible, and more efficient processes to produce higher-quality goods at reduced costs. For instance, when a car breaks down, information is directly transferred to the nearby service centre regarding the damaged part. The employees of each check their stock for the part required along with model no. of car, tyre size etc. If not available, the same is ordered before the car enters the service station.

7. How new technologies like Big Data, Block-chain, Cloud Computing, Internet of Things, AI, ML etc. empower ERP in facilitating faster production systems and in increasing the efficiency.

As mentioned earlier, ERP integration with connected devices can enable information to automatically reach respective departments without any need of physically entering the data. ERPs have already ventured into the cloud market which reduces the burden of infrastructure cost. Block-chain can be used to increase security in terms of data protection. All new age technologies can be incorporated together to enhance the power of ERP which will result in faster communication flow and production.

8. EAZY ERP recently bagged ICEIL Award for Outstanding Excellence in Global Business category. Please brief our readers about this achievement.

Yes, I was honored to receive this award from dignitaries like Shri S K Sarkar, National President, Indo American Chamber, Shri Atul Kumar, President, Indian Importers Chamber and Shri R K Sharma, President, Indo Latin American Chamber and Shri S. Vijay Kumar, President, Indo African Chamber.

EAZY ERP got this recognition for its successful penetration in international markets overcoming various socio-economic factors.

ICEIL Award won by Eazy ERP

9. What are the drawbacks of traditional distributor management process. How EAZY DMS – Distributor Management Solution can help in overcoming them?

There are numerous drawbacks if we start nailing them down one by one, but to mention a few- unstructured data gathered through various sources, lack of real-time and actionable market data for decision making, misappropriation of schemes introduced by the company, lack of visibility of performing product and area at granular level, resistance from distributors for sharing the data, comparison between target and actual sales among others.

EAZY-DMS is a first of its kind software that can help manufacturers overcome all these by tracking secondary and tertiary sales and streamlining key factors of their channel sales from faster stock replenishment, reduction in inventory carrying costs to better production planning and achieve greater channel visibility without the hassle of changing systems at the distributor’s end.

10. What is the ‘Digital MSME Scheme’ of Government? Please share with us its prime objective and its benefits for Micro, Small and Medium Enterprises (MSMEs).

DIGITAL MSME Scheme was launched by the Ministry of MSME, Government of India on June 27, 2017 to help MSMEs adopt cloud computing technology by providing subsidy of 1 lakh. This scheme is only applicable for Micro and Small enterprise with investment in plant and machinery less than INR 5 Crore.

The objective was to get more and more MSMEs to invest in cloud ERP without the need of investing in hardware which will ultimately benefit them in terms of inventory and production management. EAZY ERP was the first ERP Software empanelled under Digital MSME Scheme with the Ministry of MSME for providing subsidized software solution.

Suggested reading: 10 key technologies and trends to support digital infrastructure in 2019

11. EAZY ERP has inked some MOUs to promote this scheme. Please shed some light on this association and the services that your organization is offering under MSME scheme.

EAZY ERP has been empanelled under Digital MSME scheme as SLA under which we signed MoU with organizations such as Federation of Industrial and Commercial Organization (FICO) Ludhiana with the main objective of encouraging MSMEs, especially the members of the association, for expanding their businesses digitally. The MoU was further aimed towards creating awareness about “Digital MSME” scheme launched by Government of India.

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