Frogtek is a for-profit social venture that makes mobile software for micro-entrepreneurs in emerging markets to better manage their finances, inventories and records. The system helps these businesses optimize profits by trimming expenses, stocking the right inventory, and more, such as providing them with a bank account.
Many micro-retailers in Frogtek’s target markets (today, Mexico and Colombia) lack financial literacy and fail to keep accounting records of expenses and sales. As a result, they remain at the subsistence level, barely making enough profit to care for themselves and their families.
Today, nearly 100 shops in each country are using Frogtek software on a tablet or smart phone. Many of these devices were purchased on credit, including some from Frogtek. The cost of the recommended hardware is such that the majority of micro-retailers can’t afford it upfront.
Frogtek’s principal software package, called Tiendatek, offers a bank account and insurance, and keeps track of expenses, income, product performance and more on a point-of-sale basis that is user-friendly and easy to learn.
Learn more about Frogtek at frogtek.org.