Digital Transformation of Small Businesses: A Case Study on BukuKas
Technology Category
- Application Infrastructure & Middleware - Data Visualization
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Cement
- E-Commerce
Applicable Functions
- Quality Assurance
- Sales & Marketing
Use Cases
- Time Sensitive Networking
- Visual Quality Detection
Services
- Data Science Services
- Testing & Certification
About The Customer
BukuKas targets small business owners in Indonesia, aiming to empower them to digitize their operations and increase their degree of financial inclusion. The app provides a simple digital ledger that allows users to digitize their bookkeeping, saving a lot of time previously spent on tedious manual calculations and greatly increasing their visibility and control over their businesses. The company plans to introduce digital financial services specifically tailored for small business owners to further create value for its users. The app has been particularly beneficial during the COVID-19 pandemic, providing merchants with more visibility over their business and helping them manage their expenses and cash flows more effectively.
The Challenge
BukuKas, a financial management app, was founded in December 2019 with the aim of empowering small business owners in Indonesia to digitize their operations, run their businesses more effectively, and increase their degree of financial inclusion. However, the onset of the COVID-19 pandemic posed a significant challenge to the company. Many of their merchants were severely hit by the pandemic, with some experiencing a revenue drop of over 60% or even shutting down. The challenge was to leverage this situation as an opportunity for growth and to help their merchants manage their expenses and cash flows more effectively during these difficult times.
The Solution
BukuKas leveraged the COVID-19 situation as a significant growth opportunity. Since the start of the pandemic in late January 2020, they grew their merchant base by 25x with a Compounded Monthly Growth Rate (CMGR) of 54%. The app provided merchants with more visibility over their business, helping them manage their expenses and cash flows more effectively. BukuKas also leveraged various marketing channels for growth and retention. Performance marketing was their primary acquisition source, with Facebook and Google being the backbone of their strategy. They also explored collaborations with new advertising partners every month. The app also had a strong in-built virality component, through the many sharing features that allowed merchants to manage their day-to-day interactions with their customers and suppliers via WhatsApp and other social media.
Operational Impact
Quantitative Benefit
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