BukuWarung Collaborates with Ayoconnect to Help SMEs Bookkeeping
BukuWarung, a startup application for financial recording and managing credit transactions for micro-enterprises, collaborates with Ayoconnect, a financial API solution developer, to help MSMEs.
Through this collaboration, BukuWarung introduces several application features that can make it easier for users and MSMEs to record transactions so that their business products only use a smartphone.
BukuWarung’s Head of Product, Mario Nicolas said that BukuWarung came in to help the problems that exist in MSMEs at the micro level, namely bookkeeping.
In Indonesia, there are many small or home-based businesses that have just started their business and are still confused about how to carry out bookkeeping properly and correctly.
“They also don’t know how to track expenses, plan business finances, calculate profit and loss, errors in capital prices, and monitor stock sales,” said Mario Nicolas in a press briefing, Tuesday (10/8/2021).
Launching New Features for MSMEs
For its newest feature, BukuWarung utilizes digital sales such as credit, electricity, top up e-wallet and many others. Of course, this feature helps SMEs and buyers in the midst of a pandemic.
Market demand for digital products, such as mobile phone credit, electricity tokens and electronic money tends to grow.
MSMEs get new business commodities that they can offer to the customers by this feature. There are roughly 6.5 millions of businesses that are assisted by this feature.
“Users welcome these features enthusiastically. Another thing that makes BukuWarung different from other products is that we prioritize MSMEs so that all transactions will be recorded automatically and neatly,” said Mario.
In the BukuWarung application there is a record of accounts payable and receivable features. Users can record customer transactions that buy by way of debt.
In addition, if the business owner has debts to suppliers or other parties, billing notifications are available via SMS or WhatsApp which will be sent as invoices.
Another feature is the recording of income and expenses so that cash flows are still recorded and business bookkeeping reports that can be accessed on a daily, weekly, or monthly basis.
Not only that, there are also product features in it that allow users to record the current stock, adjust the amount of stock piled up and sold, to set prices for stock items.
Ayoconnect Aims for 10 Times Business Growth
Ayoconnect, a financial technology company, is targeting business growth of up to 10 times in December 2021 compared to December 2020.
Companies engaged in the payment aggregator sector will engage more partners and collection companies to achieve this target.
Ayoconnect COO & Founder Chiragh Kirpalani said that in the first semester of 2021, the number of transactions served by the company had increased by 600 percent on an annual basis.
The number of partners joining the Ayoconnect ecosystem has also doubled annually to more than 80 partners. Chiragh said Indonesia is a big market. To date, there are 170 million people who pay bills.
Ayoconnect wants to bridge the collection company with payment partners, both online and offline, so that the billing process runs smoothly.
“We see business opportunities here growing, and we hope that by the end of the year it can grow 10 times compared to December last year,” Chiragh said some time ago.
In terms of security, said Chiragh, Ayoconnect has quite reliable security. Ayoconnect has also been registered with the Ministry of Communication and Information (Kemenkominfo).
Furthermore, Ayocconnect has a domestic database so that the data of partners and collection companies can be maintained properly.
The challenge in developing Ayoconnect’s business during the Covid-19 pandemic, said Chiragh, was data integration.
During the Covid-19 pandemic, integration became difficult because some employees or their families were affected by Covid-19. “That might be the bottleneck,” Chiragh said.