Kenya - Startup under 3 years old

Describe your project or startup in a few words

We are in the Business of simplifying and providing tailor made technology solutions to Small Business owners in Kenya and Africa to help them streamline their business operations while boasting their business growth.

01.01 Describe your startup in more detail

Tally.it is a Technology business hub Startup, for SMEs (Small Medium sized and Enterprises). We identify SMEs business problems and develop tailor made technological solutions that SMEs can use seamlessly in our Application. Our innovations are about helping SMEs use technology to streamline their business operations in a manner that is simple and affordable to them. The focus is about ensuring that Kenya and Africa SMEs are part of the ever changing global technological world. Similar to the way Bloomberg is everything Data analysis for global Stock Markets and Indexes, we at tally.it want to ensure that we are a household technology engine for SMEs needs in Cloud Storage, Business management , Data analysis and Payment processing.

01.02 What is the main problem you are trying to solve?

Access to Affordable and Simplified tailor made technology solutions that small business owners in Kenya and Africa can effectively use despite their lack of Financial Educational background. That is the main problem we aim to solve. Affordable and Simplified Technology has been the missing catalyst in realizing the SME potential in Kenya and Africa considering the fact that SMEs account for an estimate of 55% of Kenya and Africa Economies. We tally.it believe that developing tailor made technological tools that can be seamlessly utilized by Kenya and Africa SMEs can unplug the huge potential that SMEs hold in accelerating growth in African Economies. Our vision with tally.it is to be the Tech engine for the Millions of Kenya and Africa SMEs who have been left lagging by the fast paced changing technology world especially those SMEs with sales turnover of less than 25,000 Dollars annually.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

Realtime access of business performance data has increased efficiency in how SMEs manage their businesses, additionally it has enabled business owners to make quick informed key decision concerning their businesses. We have reduced the lag between Data processing and Business analysis through Realtime reconciliation of business performance by a click of simplified accounting and business management features and reports. By aggregating our platform with payment platform like Mpesa API; SMEs can reconcile the mobile payments made to their businesses without having to rely on multiple Apps. These has simplified payment reconciliation alongside goods sold in Realtime. Lastly through our inbuilt communication platforms, traders can be able to send alerts through SMS to their customers and update them about new stocks, remind them about due debts and lastly send appreciation message to their customers.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

Our focus currently is enrolling tally.it to Kenya and East Africa SMEs who account for about 40 Million Businesses. These SMEs include traders in: Grocery, Ceramics, Lubricants, LPG Gas, Petroleum, Clothes, Hardware and Electronic Businesses. Data collected indicate that over 65% of these SMEs still rely on the pen and paper model to manage their business. By starting in Kenya we aim to progressively grow to the other East African countries namely, Uganda, Tanzania and Rwanda.

01.05 When was your company established?

2021-06-21

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

3

01.08 Among the other owners, how many are female?

1

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Susan Wangeci Maina, CRO. She is an Actuary with Masters in Risk Management. She has experience in SME Retail Banking and Petroleum and LPG Distribution Business. Marvin Biko Makau, CTO. He is our lead Developer, he is an ex IBM Software engineer with over 10 years in Computer Engineering.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://tallyit.biz Instagram: https://www.instagram.com/tally.it?igsh=ZWp5NzRsenh2MjE2

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

6

02.01.02 No poverty - Justification for my startup

Accessing tools that can help traders manage their businesses can enable SMEs access capital from financial institutions thus helping them grow which in turn translates to Job creation. Africa has one of the highest unemployed levels, we at tally.it are providing tools to business people to fast track their business growth with an aim of helping them create employment opportunities which will contribute in alleviating poverty in Kenya and Africa.

02.02.01 My startup contributes to the Zero hunger goal

3

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

3

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

5

02.04.02 Quality education - Justification for my startup

By simplifying complex financial concepts like cashflow, we have improved the scope of learning and understanding of financial and business management education by SME traders. Our easily understood Application features have broken the stigma surrounding finance and business management learning in traders who dropped out of school. This has encouraged traders to embrace practical learning through the utilization of the App features. This has enabled traders to acquire efficient bookkeeping and business management skills that they otherwise thought difficult to understand .

02.05.01 My startup contributes to the Gender equality goal

5

02.05.02 Gender equality - Justification for my startup

55% of all our employees are women, we at tally.it firmly believe in gender inclusivity and women empowerment. Having a woman as a co-founder has enriched our view with regards to promoting gender equality and has benefited our organization immensely.

02.06.01 My startup contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

2

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Small business owners especially those whose business turnover sales are below 25,000 Dollars annually have been deprived on the benefits of Technology hence limiting their business growth. By simplifying technology and making business management tools readily available to SMEs; it has enabled them to effectively assess areas in their business where they need improvement. These improvements translates to business growth which not only relates to internally business success growth but results to a wholistic approach to economy growth. Adding a multiplier effect to SMEs business growth means: Growing SME business equates to growing a portion of the economy which means increasing employment opportunities thus promoting economic growth.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

We are constantly innovating new technology tools for Kenya and Africa SMEs. Our product tally.it is built on the ethos of incorporating new technology in solving SMEs business problems. By incorporating technologies like Block chain and Artificial intelligence in our Application, we want to ensure that SMEs are on the frontline in accessing the benefits that come with the rapidly changing technological world.

02.10.01 My startup contributes to the Reduced inequalities goal

6

02.10.02 Reduced inequalities - Justification for my startup

Kenya and Africa at large usually lags behind when it comes to utilizing technology to foster growth, this explains why poverty reigns high in the continent. We at tally.it want to reduce this bridge of Technological inequalities between Africa and the Global world by curating tech solutions for Small Business owners which will in turn boast Entrepreneurship in the continent. Bridging the Tech inequality gap between countries means innovating solely for a sector like the SMEs. This way, SMEs can be the engine driving force that exponentially gravitates growth of Kenya and Africa economies. Without the Industrial revolution Europe specifically Britain world never have achieved greatness hence with Technology in the hands of SMEs we anticipate they can lead the charge of African growth thus reducing technology inequality between Africa and the global world.

02.11.01 My startup contributes to the Sustainable cities and communities goal

1 - Strongly Disagree

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

3

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

3

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

2

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

2

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification for my startup

Mastercard, and other Global financial institutions are all seeking for new ways to finance the small business enterprises in Kenya and Africa. Through tally.it we believe we can create a gateway to SMEs business data which can foster financial inclusion for SMEs and these global financial partners. We want to create a world where access to capital is made extremely easy for a Bujumbura ceramic trader who need only to click a button and assessment of his eligibility is done and money deposited to his business wallet without the need of filling countless paperwork.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

3

06.02 The product/service represents an entirely new type of product/service.

5

06.03 The product/service could be described as a new technology.

5

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

7 - Strongly Agree

06.08 Justification for my startup

Over the years attempts have been made to try solve the SMEs bookkeeping problem but the solutions available in the market have never appreciated the complex nature of Kenya and Africa small businesses. The likes of QuickBooks, Zoho Books and local point of sales solutions are not only expensive but their innovations are not adept enough for SMEs businesses, this is the reason why SMEs still rely on Pen and Paper model to mange their businesses. Our innovation was build on improving what is currently in the market it through simplified easy to navigate features that a grocery trader can use with ease to assess the performance of their business. For traders with more than one shop, we have made it possible for them to manage multiple business at once without having the need to purchase multiple solutions and all these is through a Smartphone. Through mobile payment integration system, we have created a wholistic approach on how SMEs manage and track their payment transactions.

06.09 Competitive Analysis

Our focus in solely Innovating for a Niche SME market with Annual sales turnover of 25,000 Dollars and below who represent the majority of SMEs has given us an in-depth consumer insight better than our Competitors, who have focused in innovating for the large Enterprise SMEs with sales turnover of 200,000 Dollars and above. Affordability and a user friendly interfaces that makes it easy for SMEs to navigate through different business management tools has ensured that we can scale the App to Millions of SMEs while achieving sustainable profit margins. Through our in build algorithms tools, we have made it possible for traders to manage multiple business all at once without the need of having different management platforms. With tally.it a Grocery trader with a Ceramic business in Kisumu and a Gas dealership in Mombasa can manage them all at once through our Application at a price that is extremely affordable.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?