Vodacom has launched a new app to help small businesses in SA become part of the digital economy. The Vodacom Business Booster app is designed to streamline business processes - providing entrepreneurs with more time to focus on growing their customer base, revenue and profitability.
"Lack of funding is regularly cited as one of the major contributors to the widely accepted statistic that 80% of SA's small businesses fail in the first three years. What is lesser known is that this lack of funding is often a consequence of a weak deal pipeline and/or insufficient financial reporting resources," Vodacom said in a statement.
The company said small business owners are typically overburdened by having to manage the administrative and financial side of their businesses. The secure financial management tool aims to better equip South African SMEs for growth and resilience - particularly in difficult economic times.
"With Vodacom Business Booster, businesses can generate client records, quotes and invoices, conduct mobile payments, better manage their leads through a customer relationship management solution, and improve their financial management through accounting modules already built into the solution - all from a mobile device," said Anthon Muller, executive head of managed enterprise mobility at Vodacom Business.
The app also has the ability to immediately allocate expenditure receipts by scanning these with the phone's camera, as well as generate pro forma financial statements.
"Mobile technology and digital platforms provide the critical foundation on which to grow modern economies in Africa. The new mobile app taps into the convenience that technology can bring to even the smallest of businesses."
Vodacom said the Business Booster affords SMEs the benefit of digital technology without the complexity typically associated with managing the systems.
"When small businesses have good financial management and reporting structures, they improve their credibility and track records, increasing the chances of accessing finance from commercial lenders while helping them to comply with the reporting requirements of their current funders."
The app also has a mobile payment module, which is relevant for small businesses that provide services on the premises of the customer, such as plumbing, pool repairs or home deliveries. The app makes payment on delivery possible and secure.
"Small businesses are the bedrock of most economies and, in particular, will play a crucial role in the realisation of the National Development Plan's 2030 vision in SA. Making the running of a small business even easier is a critical step in safeguarding the sustainability of these businesses," Vodacom said.
The new app is part of Vodacom Business's digital strategy. The application is hosted in a build-to-last cloud infrastructure and costs R175/month to all prepaid and post-paid Vodacom customers.
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