Photo - Simplifying buying process by providing analytical services
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Simplifying buying process by providing analytical services

Ukraine, Kyiv city
Market: Tourism, sport, Financial services, Gadgets , Artificial Intelligence, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 26.07.2018
Min investment
$  40.000
0
Total required
$ 120.000
Rating
equalizer 185 из 1000
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Idea

It's application for bank's clients and wide range of users. The main goal is to help application users with the help of a trusted money to make planned purchases and quickly orient in prices.

Current Status

The application is under construction with implemented functions for recognizing texts and prices.

Market

MARKET RESEARCH

OUR CLIENTS:
Parents or children (control of planned costs)
Payers of alimony (targeted use of money)
Travelers (quick orientation in prices)
Retail or service companies
Shoppers and cafes clients

Problem or Opportunity

Problem statement.

B2В MODEL.

- Bank’s clients who are traveling or transferring money abroad, for example, to students or children, do not have the ability to control the quality of spending, but only limits for the period or only for goods from determined counterparties.

- The companies (bank's clients) can only monitoring of their employees spending during business trips or negotiations charges. At that time, there is no solution that will allow in automatic mode to authorize or prohibit the purchase / receipt of a service.

- Retail companies have not have possibility to automatically vary the discount to a wholesale buyer.

- Trading networks and stores can’t make automatically variation of potential discount of their sales representative at points of sale, for example, depending on numbers of their (employees) sales level. Now decision is making by phone conversation or e-mails and it’s very slow process which can lead to loss the customers.

B2C-MODEL.

- In addition to vacationers, who need to recalculate the cost, for example, dishes in the menus (selection the cheapest or the most expensive dishes), souvenir's prices or goods at the marketplaces, fuel prices, there are also people who come to earnings or constantly work in a new country. They are most in dire need of an instantaneous determination of the cost of a given product and are often compelled to save.

- At that time all of those people categories have to do calculations in mind or by the calculator.

Solution (product or service)

B2B MODEL.

- By providing money with the purpose of appointment there is a possibility of control (by payment bank's card) spending before the purchase.
- Parental control or control of an alimony using is carried out accordingly of the type of goods or their cost.
- Control and varying discounts for customers.
- Motivation of employees by providing an opportunity to give a bigger discount with more sales they have.


B2C MODEL.

- Convenient recalculation in augmented reality(real-time) format prices in the required currency.
- Automatic conversion to a determined currency using geolocation or to certain currency with specified exchange rate.
- Visual help for determining the highest and lowest price in a group of products / menus / price lists.
- Picking up goods to receipt with the simultaneous conversion currency.

Competitors

- Machine vision application like «Googles»
- Personal accounting apps
- Currency converter apps
- Interpreter apps
- Mobile applications for comparing prices by barcodes in shopping malls and online stores

Advantages or differentiators

The main differences: the possibility of confirming the purchase by name / type of goods (not only at the place of purchase or price) and the opportunity in augmented reality to see prices in the required currency.

Competitive advantages of our app is unification of the functions of these programs and making support of decision on purchase.



Finance

The project has a wide range of opportunities to expand functionality and growth prospects. The costs are in approximate equilibrium with sales revenue at an indicator of less than 5,000 regular users (bank's customers with $ 0.05 transaction fee) and 5 purchased corporate customers per month.

Sales in the long term of 5 years will be determined based on the number of successfully implemented application cases. The exact figures are not yet known. We focus on a team of 9-10 people (4-5 of which are developers). The product on the market will be particular interest precisely with a comprehensive solution.



Business model

Business model is detailed in video presentation (starts at 3:00 minute):

https://www.youtube.com/watch?v=3sC-awRYopQ

Money will be spent on

Costs are mostly in development , therefore variable costs are low and model has a big scale factor. In the same time core development doesn’t contain research tasks and its cost is fixed. Future developments are funded on the project basis from stakeholder financing. Technology requires creation of big data linguistic corpus. Population of it is planned through user involvement with appropriate stimulus.

Risks

The main risk is implementation by large corporations similar solutions into their already widespread applications.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video