Many small business owners, especially those running local mom-and-pop shops, lack a business degree.
While a business degree isn't necessary, it often helps in navigating areas like revenue forecasting, modeling, and predictive analytics.
However, due to this expertise gap, numerous business owners:
Rely on unsophisticated bookkeeping methods like pen and paper or cluttered Excel files.
Remain unaware of how data can empower their decision-making.
This week's company provides an automated platform that simplifies financials and uses machine learning to help small business owners make data-driven decisions.
MRGN is an AI-powered platform designed for SMBs to simplify financial analytics and guide business decisions.
SMBs: Target customers include small to medium-sized businesses such as retail stores, restaurants, and franchises.
Simplify: Input basic financial information, or connect your accounting software like Quickbooks, and MRGN generates budgets, intuitive charts, analytics, and predictions.
Guide: Utilizing internal and external data, MRGN puts together an operating plan for business owners to follow.
MRGN's solution adds value to underserved SMBs.
MRGN's user-friendly interface caters to business owners, especially those without a formal business degree.
🏁 Competitive Pricing: With a pricing model that's accessible for small to medium-sized businesses, MRGN provides a cost-effective solution in a market where similar services can be expensive.
🤔 Over-reliance: While MRGN aids decision-making, it's vital for business owners to use it as a guiding tool, not the sole source, as it may not cover all aspects of business operations.
🔒 Security: Given MRGN's access to sensitive financial data, maintaining robust security measures is crucial to uphold consumer trust and comply with data protection regulations.
🐌 Slow adoption: Established small businesses, especially those accustomed to traditional methods, may require convincing to transition to a new solution, which may slow down the platform's adoption rate.
By simplifying financial data through a user-friendly interface and guiding small business owners to make data-driven decisions, we predict MRGN’s success is imminent.