Founded in 2017, OPEN is a business payments platform that empowers SMEs, startups and freelancers to manage everything from accounts payables, accounts receivables, to auto-reconciliation, accounting, expense management, compliance and payroll in one single platform. Today the platform powers more than 40 lakh SMEs and processes over USD 30 billion in annualized transactions. The platform also adds over 100,000 SMEs every month, making it the fastest-growing platform in this space globally.
In May 2022, OPEN raised its Series D round and became the 100th Unicorn from India. OPEN is backed by leading global investors like IIFL Finance, Temasek, Google, Visa, Tiger Global, Beenext, Recruit Strategic Partners, 3one4 Capital, Speedinvest, Tanglin Venture Partner Advisors, Angellist, Unicorn India Ventures, to name a few and has raised over USD190 million in funding to date.
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Overall, I highly recommend Open to fellow entrepreneurs and business owners. The platform offers a comprehensive set of features that streamlined my financial operations. Open provides tools for tracking expenses, invoicing clients, and managing cash flow. The user-friendly interface makes it easy to navigate and access the necessary information efficiently. The ability to connect multiple bank accounts and view consolidated financial data in one place has saved me a tremendous amount of time and effort. However, I do miss the founder's One Card, which was a valuable addition to the platform. I hope that Open considers relaunching it soon, as it provided convenience and enhanced control over business expenses.
I have been utilizing Open for my business transactions, and it has been an incredible experience. It seamlessly integrates with my existing systems, making the payment process straightforward. I feel extremely secure using it, and whenever I have had inquiries, their customer support has been exceptionally helpful. Open provides a variety of payment options, which has significantly contributed to the growth of my business. Overall, my experience with Open has been exceptional.
The open digital dashboard provides the summary of my account balances, payables, and receivables, making it easy to track my finances. Moreover, the beneficiary management feature simplifies handling recipients, ensuring seamless and efficient transactions. I enthusiastically recommend it to anyone seeking to streamline their financial management.
Creating my online store for small dog products on Shopify was a remarkably smooth and rewarding experience. Shopify's user-friendly platform guided me through each step of the setup process, making it easy even for someone without prior experience. Their range of customizable templates gave my store a professional and appealing look, and the analytics tools provided have been invaluable for tracking my store's performance and customer trends. Additionally, Shopify's 24/7 customer support was always ready to assist whenever I encountered any roadblocks. Overall, launching my business on Shopify has been a positive experience, and I would highly recommend it to anyone looking to start their own online store.
Shopify is a powerful marketing machine that has driven incredible growth. It's an excellent choice for the store owner who needs to do it themselves, on a shoestring budget, who does not sell complex products and who does not plan to run a hybrid - a store that serves multiple customer bases such as retail and wholesale.
Due to its sheer market share, there is a robust marketplace of apps that can be added to shape the store to fit most needs. There is an equally robust selection of themes and developers who can assist with any size project. They have a terrific knowledge base which I strongly recommend store owners use as it teaches the basics for e-commerce in general and online marketing. This learning should be done prior to developing a plan for your site. That will help root your project for success.
Unfortunately, it's also oversold based on name recognition even when the platform is a poor choice for a specific business. There are both policy and technical limitations that impact suitability.
Shopify stores require many apps, which adds monthly costs and can greatly slow your store down. While ALL online stores end up with some app use, because this allows you to choose the features you want and need, much of what is native in other carts like their most direct competitor, BigCommerce, is not. So you'll spend more money each month and it can be harder to get a fast site.
Among the stores that should probably NOT use Shopify:
- Sells items that are generally prohibited on the platform which includes weapons, weapon-related items, sex objects, tobacco (for some odd reason Vape is currently on the platform but for how long is anyone's guess), alcohol.
- Sells items allowed but that don't qualify for Shopify Payments which expands the above list to include supplements, CBD, vape products and other items.
- Just as above, any store that can't qualify for Shopify Payments or who has good reasons to use another payment gateway. Why? Because if you don't use their payment gateway which they profit from, they will take 1/2-2% of your gross revenues soley because you are using another gateway. For small merchants, this isn't much, for big ones it's a significant cost.
- Stores with multiple price structures or catalogs - such as those who offer VIP tiers or wholesale clients. Why not? Because you can't create true customer groups which on other platforms let you segment the catalog and content for each customer group. Groups are really important for B2B. To accomplish multiple audiences on Shopify requires either a separate app (at an added cost) or multiple storefronts, or ShopifyPlus (which is still creating multiple sites). This can greatly increase your operational costs and work efforts.
- Stores with complex products - these are items with many options, also known as configurable or customizable products. While Shopify does offer the ability to offer up to 3 options per product with a maximum of 100 skus per product, this limit is very easy to exceed. There is also no native path to add modifiers such as those one would use for personalized products (like custom embroidery. While these issues can be overcome with apps, that adds both load time and costs.
Based on our record, Shopify seems to be a lot more popular than Open.money. While we know about 42 links to Shopify, we've tracked only 1 mention of Open.money. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.
Has anyone used open.money for banking purpose? Source: about 1 year ago
Shopify.com vs store.link which one is better? Source: 9 months ago
With a traditional e-commerce platform like Shopify, you're locked into their ecosystem. You have to use their templates, checkout, and backend. Headless platforms like MedusaJS give you the freedom to build the front end however you want, using any framework or library. - Source: dev.to / 11 months ago
For example, if you want to load firewalla.com, just allowing "firewalla.com" will not work, you will have allow shopify.com and few other stuff ... You can see what sites loaded using chrome dev mode. Source: 11 months ago
If the shipping and sales tax scares you, it may be better to sell through Etsy since it is a marketplace facilitator and is required to collect sales tax from customers when purchasing your items that are sold. People go to Etsy to find something, not sgalv02.com to find your items. I believe Shopify will help you create a site to sell on, but people don't go to shopify.com to purchase various items like they do... Source: 11 months ago
Create a online website using dukaan.io or shopify.com and then sell something.. Source: 12 months ago
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