Our first set of customers are the “mom-and-pop” shops that dot many corners in Latin America and the rest of the developing world. Despite selling hundreds if not thousands of different products, most of these micro-retailers do not track their sales or expenses because they cannot afford a cash register or other point-of-sales tool. The most organized shopkeepers may record some transactions in a notebook and then laboriously transfer this information to a spreadsheet but they generally still do not have a clear idea about how to use this data to improve profits.
The end result is that most of these businesses do not know their break-even sales, cannot analyze an investment opportunity, nor optimize their purchasing decisions. All of these limitations combine to keep micro-retailers operating in a sub-optimal manner, reducing profits, limiting growth and making life more difficult for their suppliers.
Our first product is a point-of-sale software application that allows micro-retailers to record all store expenses and revenues directly on a mobile phone or tablet; an external bar code reader connected to the phone via a wireless connection allows them to record transactions at the product level. In exchange micro-retailers gain access to financial reporting, personalized recommendations and additional value-added services.
All of our software applications run on Android smart phones or tablets that have touch screens and synchronize wirelessly with our Web servers.