‘Suntech is the ideal ERP partner to navigate the jewellery industry towards digital shores’

For Chandraprakash Siroya of Siroya Jewellers, the biggest takeaway from Suntech Solutions has been their robust after-sales service, and the fact that his managers now have all the time in the world to brainstorm production ideas. The Retail Jeweller World talks to Siroya about his experience.

In last 5 years, how has technology helped you to enhance your business?

Jewellery has been a technology-driven sector for a long time now. The pandemic has only brought in faster innovations. When it comes to the production processes, manufacturing machines had come in as early as the beginning of the 20^th century. Chains were the first to be made by machines. In the last 5 years, there has been a big jump as technology has become affordable. Earlier, we would cast with machines, moulds had to be made by hand and masterpieces were still handmade. In the last 15 years or so, 3D printing came in, which has become cost-effective in the last five years. Processes have been streamlined in such a way that we can get replicas of the finest jewellery ever made by casting. The designing process has also become heavily technology driven today, where you hardly find designers who don’t use 3D technology to design their pieces.

Technology can be found in manufacturing, and even bullion and refining. Technology has helped minimize losses in refining.

Today, we can’t think of selling without technology. Think about mass media marketing. Can we imagine a world anymore where we will be able to sell without photographs — a product of technology? Websites are being developed and jewellery is being increasingly sold online. Even as wholesalers, we use technology to sell jewellery. It has been a boon for the industry, without which we would not have survived these trying times.

In terms of stock-keeping, all records would be maintained by hand before. Now there are companies with ERP systems, which are so efficient that a jeweller can identify the cost structure, basis, losses, and assess benchmarks on where they can save. Big jewellery chains would be lost without technology because it is only possible to keep track of inventory, sales and costs of that magnitude through an ERP system. We can now hold an ideal inventory, thanks to technology.

In financing too, some ERP software create tags by RFID technology. These can be read on a machine with a swipe, and one can get the stock details and the financial aspects.

How has Suntech’s technology helped you in improving your processes and sales? Are there specific instances that come to mind?

Suntech is one of the preferred suppliers of ERP systems in the jewellery industry, especially in Dubai and the Middle East. They have the manufacturing vertical to monitor your costs. We, at Siroya, using it for our factory. It helps us streamline our operations and save money because we get a clear analysis of stocks and the costs. They have an accounting system that helps with major aspects of the business like sending direct invoices to customers. It also helps with invoices with pictures for high-value items. Its interface links with the weighing scale too, so human error is eliminated. They have already done the RFID part. Their programme can be used in conjunction with Brink’s, and financing can be done using the platform too. They are a favoured supplier and we are very happy using their software. They have a great team that is in the right place at the right time. With a dedicated aftersales service, they can go a long way. Because Suntech has helped automate most of our processes, our managers now have time to look at the production. It has helped us identify costs for all our departments.

How would you advocate Suntech’s product portfolio when it comes to a retailer’s holistic improvement — both at the front end and back-end?

Suntech is one of the best as far as we are concerned. The aspect that brings me closer to Suntech is their after-sales service. Whenever there is a problem, they are just a call away. As a retailer, manufacturer or wholesaler, people can take advantage of Suntech’s products. Accounting is the backbone of any industry or company. If the backbone is strong, you have a good spine, and a great business follows automatically.

What is your vision for the Jewellery industry 2025 and your message to your fellow jewellers?

We, as jewellers, are here to stay as long as ladies find jewellery attractive. Ups and downs will come in terms of prices and technology. Lab-grown diamonds may become popular and gold prices may jump. But there will be a field for everyone to grow. Jewellers should be transparent as service will be the most important aspect going forward. We play with emotions when we sell jewellery. We must manufacture what appeals to the sentiments of customers. Our biggest challenge is millennials who are interested in short time pleasures like accessories and gadgets. We have to appeal to them and highlight the fact that when they buy jewellery, they are also making an investment. When that becomes the universal voice of every jeweller on the planet, we will all be able to survive and see growth.

Courtesy: Retail Jeweller India News Service