The client
A pioneering rural fintech company based in India, dedicated to financial inclusion and digital empowerment. Committed to bridging the gap in financial services, it offers innovative solutions leveraging cutting-edge technology. Revolutionizing banking, digital, and e-retail experiences, ensuring speed, transparency, and predictability. Through strategic partnerships and local insights, it fosters economic growth and prosperity, democratizing access to financial resources and opportunities.
The problem
The challenge lies in integrating Adhikari’s operations into the Spice Money ecosystem effectively. Despite the potential benefits of digitization and digital tools, there’s a gap in achieving complete adoption. This affects business growth opportunities and revenue potential, reducing loyalty and engagement. Key issues include inadequate integration of digital assets, inefficient customer record management, and untapped sales data for cross-selling and up-selling. The goal is to optimize Adhikari’s performance within the Spice Money ecosystem.
Ad-hoc Shop Management
- Absence of a centralized system for inventory tracking leads to inefficiencies in stock replenishment and product availability.
- Difficulties in coordinating with suppliers and distributors arise.
Limited Availability
- Restricted Service Hours pose a challenge for customers seeking seamless transactions, leading to inconvenience and potential loss of business opportunities.
- Operational Constraints stemming from limited availability inhibit users from accessing essential financial services.
Manual record keeping
- Merchants/adhikaris face challenges in manual financial record maintenance, leading to time-consuming processes and potential errors.
- Their current record-keeping methods are labor-intensive and prone to errors, demanding significant manual effort and resources.
Maintenance of customer records
- Struggling to maintain accurate customer records led to inefficiencies and potential errors in financial reporting.
- Manual data entry processes increased error risks and made updating customer information across platforms time-consuming, hindering operational efficiency and financial record accuracy.
The solution
Creating a one-stop-shop ecosystem in the local language and making it an integral part of the rural merchants’ daily routine. Designing a mobile app and web presence to make a difference in the rural markets. The team followed a design thinking methodology and conducted several workshops, which involved card sorting, feature listing, and brainstorming sessions. A prototype was developed, and merchants were invited to provide their input during the sessions.
Shop Management
- Implemented an integrated inventory management system to track stock levels and automate reordering processes, ensuring product availability.
- Utilized data-driven analytics tools to monitor sales trends, identify popular products, and optimize inventory management strategies for enhanced shop performance.
Promotion Toolkit
- Created a promotion toolkit integrating WhatsApp messages, SMS, and hoardings to expand audience reach and enhance brand visibility.
- Utilized targeted messaging campaigns to directly engage customers, promoting special offers, discounts, and services, boosting engagement and driving sales growth.
Financial Kit
- Introduced a comprehensive financial kit tailored for loans, offering easy access to information and resources for borrowers.
- Developed a user-friendly interface for the financial kit, providing step-by-step guidance on loan application processes and eligibility criteria.
Our work in action
First in the Market product
Product serves rural needs by offering digital solutions for shop management, promotions, and finance, all on one platform.
Easier integration and quick to market
The design allowed for easy implementation either as a standalone product or as an add-on widget to their current suite.
More business & more retention
With Promotions, merchants see more inquiries, and deferred payments boost customer purchases
tx, USA
London, UK
India
