Latest News | After Shipway, Unicommerce Open to More Buys; Aims to Be One-stop-shop for E-comm Enablement
Get latest articles and stories on Latest News at LatestLY. Unicommerce eSolutions is open to acquisitions involving a reasonable valuation to fill in 'white spaces', as it moves towards its vision of becoming 'one-stop-shop' for e-commerce enablement, CEO and MD Kapil Makhija has said.
New Delhi, May 2 (PTI) Unicommerce eSolutions is open to acquisitions involving a reasonable valuation to fill in 'white spaces', as it moves towards its vision of becoming 'one-stop-shop' for e-commerce enablement, CEO and MD Kapil Makhija has said.
In an interview to PTI, Makhija said the e-commerce enablement Software-as-a-Service platform undertakes considerable diligence internally to decide on build-versus-buy options, as new white spaces continue to emerge in the market.
"And if there is a good opportunity that is available in terms of acquiring, we would be open to that, as long as it is plugging an important white space for us and it is available at a reasonable value," he said referring to untapped opportunities for growth.
In business parlance 'white space' refers to untapped opportunities within a market, kind of promising space where a business can innovate and offer products and services to fill a gap.
Unicommerce recently acquired logistics management platform Shipway, that provides courier aggregation and shipping automation services.
Makhija said over the last four years, the e-commerce space has seen numerous developments, notable among them are the rise of omnichannel model, and the more-recently the quick commerce momentum.
"So there are newer white spaces that will keep coming up, and we continue to explore newer opportunities. There is an active discussion that continues to happen," he said on inorganic growth strategy.
Unicommerce today is powering about 7,000 plus businesses across 10,000 plus brands, he said.
"So if you look at the entire e-commerce value chain, there are three key layers, a customer engagement layer, transaction processing layer, and order fulfilment layer," Makhija said adding that the company has solutions across all three pillars of the e-commerce value chain, from click to delivery.
The flagship platform, UniWare, works in the transaction processing layer addressing the post-purchase journey, while the recently completed acquisition of Shipway, strengthens the order fulfilment layer, he said adding the ConvertWay solution is focused on the customer engagement layer.
"With these three solutions, we have an end-to-end offering simplifying the e-commerce journey for a brand," he said.
The company's gamut of offerings aim to simplify e-commerce selling for brands to ensure that the brands can thereby focus on selling to their consumers.
"Given that we are processing nearly a billion transactions from our platform already, we have effectively become an index to e-commerce. So our growth as a company has always been a plus-plus on the market growth," he said.
India's e-commerce market has seen rapid evolution, he said adding that digital-first brands are eyeing offline presence too, and traditional brands are going online. The adoption of quick commerce has been a salient contributor to the market growth, he said.
According to Makhija, the fundamentals for e-commerce are intact.
The company is focused on four growth levers - the transactions growth of the brands, new customers being onboarded each month, addition of new products, and international expansion.
"We are already present in six countries outside of India and we will continue to grow deeper and deeper," he said.
The profits and cash generation from the business is "good enough" to fund new initiatives or investments, Makhija said.
"As the market continues to grow, we will continue to add more and more products in line with our vision to become a one-stop shop for e-commerce enablement. And that is what we are solving today," he said.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)