LightInTheBox Holding (LITB) Launches Distribution Company-Focused ERP SaaS Solution
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LightInTheBox Holding Co., Ltd.(NYSE: LITB) announced that it has launched a cloud-based enterprise resource planning ("ERP") Software-As-A-Service ("SaaS") solution for online and offline distribution companies.
The cloud-based ERP solution was developed on top of the Company's self-developed and proprietary ERP system, which has been used by LighInTheBox over the past eight years and has gone through multiple iterations. The ERP solution is web-based, easily configured, requires no installation and comes with fully self-serving registration. Designed for both online and offline distribution companies including both retail and wholesale, the newly launched system comes with a full spectrum of management solutions to facilitate order management, procurement management, product category management, supplier management, and inventory management. It is designed for both small and large distribution companies that handle millions of orders per year and manage thousands of suppliers. Built using open source software and database stacks; it can easily be deployed on a number of major cloud platforms such as Amazon AWS.
LightInTheBox launched the Chinese version today and deployed it through Amazon AWS's China data center. The Company expects to launch an English language version for international users later this year. The ERP solution is free of charge for small to medium-enterprises ("SME") with a larger, private, cloud-based solution for large enterprise users in need of higher levels of data isolation.
"Our ERP system has gone through multiple iterations and rigorous testing over the past eight years that we have using it in our own operations, and is very suitable for both online and offline distribution companies" commented Mr. Alan Guo, CEO of LightInTheBox. "It is easy to understand and use, and with a cloud based SaaS model, we will offer it for free to SMEs to demonstrate how innovative and disruptive our ERP solution is to the distribution industry. With an initial focus on the Chinese market, where many SME distribution companies have never used ERP software in the past due to cost and their complexity, we will soon launch an international version to reach customers across the globe. We are very excited about its disruptive market potential and are very proud to see the platform being adopted by such a broad spectrum of companies."
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