Xendit Sharpens MSME Solutions, Presents SaaS for Product Inventory

Startups fintech payment solutions Xendit announces new SaaS solution “Xendit Inventory Sync” to target sellers online who trade on digital platforms. The solution is part of the company's ambition to collaborate more with MSMEs.

Xendit Inventory Sync is a technological innovation multi-channel to manage inventory stock of products sold online online on Tokopedia, Shopee, and sites like Shopify and WooCommerce. Thus, business people can more easily monitor the amount of stock in each channel in one neat and integrated dashboard.

This solution exists because almost all business people in Indonesia implement a marketing strategy multi-channel in order to combine sales channels both in marketplace as well as in website. Service E-commerce is currently in its golden age due to ever-increasing transactions. From 2% in 2016 to 20% in 2020. It is estimated that transactions E-commerce could reach 40% of the total retail transactions in Indonesia in the next few years.

“So far, business people still have to do stock updates manually, one by one on each platform. This of course takes quite a bit of time. That's why we launched the new Xendit Inventory Sync feature to help businesses save time and operational effort," said Xendit Co-Founder and CEO Moses Lo in an official statement.

Separately when contacted DailySocial.id, Lo emphasized that although this innovation is not the first time in Indonesia, this product is designed to improve digital financial infrastructure in Indonesia by helping businesses enter the digital world.

In general, he continued, what distinguished Xendit from payment gateway others are simple products, as they are easy to integrate and use by businesses from individual sellers, small businesses to large corporations. Then, speed due to the easy and fast registration and verification process to use Xendit features and 24/7 customer service.

Regarding the reason for choosing the site marketplace Shopee and Tokopedia. None other than because they are the two largest platforms in Indonesia, with total visitors website reached 90 million and 80 million respectively in 2020, according to iPrice Group & SimilarWeb data.

While Shopify and WooCommerce, Lo explained that both are the first third-party platforms that allow users to integrate with Xendit to use the features. Gateway payment.

With the open API they provide, it allows Xendit to build and develop more features that will enhance their user experience. “Xendit records more than 200 Shopify users and 300 WooCommerce users who have integrated their platform into Xendit's payment gateway features.”

Lo explained that Xendit Inventory Sync is an independent SaaS product that is provided as an added value for Shopify and WooCommerce users and potential users of Xendit payment solutions. This is because potential users who are interested in this solution can use it directly without having to subscribe to the Xendit payment solution feature.

“We are also building products that will provide added value to business processes for our merchants and potential users. The first of these non-paying solution products is Xendit Inventory Sync, which is not provided by so far payment gateway others, and plans to add more platforms provided to reach more businesses and help simplify their business processes,” he said.

It will also continue to expand the reach of Xendit Inventory Sync to facilitate integration into more platforms E-commerce and website. “So that we can reach more businesses and help simplify their business processes”, concluded Lo.

Various solutions for MSMEs

According to data from the Ministry of Cooperatives and Small and Medium Enterprises, out of 64,2 million MSME units, only 19% of them have entered the digital ecosystem. The government itself targets 30 million MSME units to enter the digital ecosystem by 2024.

Not only Xendit, there are many companies that provide various solutions to make it easier for MSMEs to go digital from various business aspects, be it fintech, supply chain leaders, logistics, E-commerce, marketing, and others. Following MSME solutions that startup players have provided.