Discover the app that helped 97% of its SME customers make more money
Recordkeeping is important to business success. We know that intuitively and we can see it empirically in the academic research. We also know that a lot of small businesses do not keep records and those that do, do not use them effectively. We don’t blame the entrepreneurs. The tools traditionally available (i.e. ledger books) are hard to adopt, tedious to continue to use, and difficult to decipher.
At OZÉ we set out to understand what would happen if we made recordkeeping easy for entrepreneurs always on the move. What would happen if we designed it in a way that made it just a bit more likely for them to stick with it? What if we showed the results in a way that was easy to understand? What if we shared tips and tricks to guide entrepreneurs to use their data to make better decisions?
In 2019, we launched our 2.0 version of the app and our entrepreneurs recorded their first full year of data. We started to answer those questions and we found out that what happens is businesses perform better. Entrepreneurs who use OZÉ are highly likely to be successful.
We looked at the financial performance of companies that used the app for at least 3 quarters in 2019 and this is what we found…97% of businesses were growing and/or profitable.
- 62% of businesses were both profitable and growing
- 77% of businesses were growing
- 82% of businesses were profitable
Only 3% of businesses made a loss and did not expand monthly average revenue.
Looking back in 2019, we’d like to send a big congratulations to our OZÉ Entrepreneurs. You did the hard work; we just gave you the tools. We also need to send them a big thank you for letting an unknown company into their business and trusting us to keep their records safe and to give them sound advice.
Looking forward to 2020, we will focus on two things. First, how can we help more entrepreneurs discover the app and stick with using it? And second, for our loyal users, what other tools and services can we add to accelerate your success?
The release of version 3.0 is just around the corner. You’ll see a more intuitive interface, new rewards for using the app, and will have the ability to make and send payments directly through the app. We’ll also be expanding lending activities and you’ll start to see us pop up in new markets.
If you are a business owner reading this who has not tried OZÉ or tried it but was not able to stick with it, go right now and download it from the Play Store. The basic version is free. Why not? You have everything to gain and nothing to lose.
