This week The Geek had a one-on-one chat with a software Developer at RoyJim Technologies – a start-up company developing a mobile accounting application. The BIZACC is an android mobile application that aims to ease accounting problems encountered by Small & Medium Enterprises(SMEs).
This what he had to say,
Magazine Reel(MR): What’s your product name?
RoyJim Technologies(RoyJim): BIZACC
MR: What’s the problem you are solving?
RoyJim: Current dis-organization of financial information within SMEs &
mismanagement of finances in different organization.
MR: What solutions are you offering to the affected party?
RoyJim: An easy to use mobile application that helps in record keeping of transaction as and when they occur.
MR: What influenced your app creation?
RoyJim: A quench to bring a skill I learnt (in accounting ) to all businesses including those run as a one man show. I was also seeking for a permanent solution to mismanaged accounts.
MR: Who are your team members/partners/founders & their experiences?
RoyJim: Samwel Wanjiru-Marketing manager, Leewell Macharia-Financial Manager, Royjim Mwangi-Software Developer
MR: For how long have you been in existence?
RoyJim: 5 months
MR: How much financial backing do you have & by whom? If got financial backing, how long have they given you to be successful?
RoyJim: Our team members Sweat capital
MR: Whom have you partnered with to deliver your service offering/products?
RoyJim: ILab Africa & Safaricom app wiz
MR: What’s your target market?
RoyJim: A duka,a small business
MR: Who are your competitors and how well are you doing by comparison?
RoyJim: Safaricom cloud, Sage pastel
MR: How many clients do you have on board?
RoyJim: 5 new customers each day
MR: Do you have paying customers? If so, how many?
MR: What’s your revenue model?
RoyJim: All our products are free but we charge for our goodness. How much would you pay us?
MR: What’s your monthly net revenue?
MR: What’s your 6 months & 2yrs strategy?
RoyJim: Grow as first as you can
MR: What challenges have you encountered?
RoyJim: Greatest challenge? Challenges are our stepping stone, so greatest challenge is lack of challenge.
MR: What’s the biggest business risk to your venture?
RoyJim: Biggest risk is directors earn a cent only a day.
MR: How are you monitoring customers needs? If yes, have you made changes based on their feedback?
RoyJim: We stopped developing software, we gave customers the compiler to author whatever software they want.
MR: What’s your exit strategy? Do you plan to go public/sell the technology your are developing?
RoyJim: To be Billionaries
MR: What can you advice upcoming start-ups?
RoyJim: To get started.
To download the app, click on Google Play Store