majoo SaaS Platform Provides Comprehensive Business Management Services for SMEs

One of the factors to help SME business success is support from logistics services, payments, to the management of their business management. In the last two years, many platforms have tried to make it easier for SMEs to manage their business. One platform that then tries to target this sector is majoo.

Majoo was founded by three founders, including Adi W. Rahadi (CEO), Audia R. Harahap (COO), and Bayu Indriarko (VP Engineering). Previously, the three founders were retail business players who also served SME customers, so they quite understood the various difficulties encountered in the field.

To DailySocial Adi revealed, majoo is an entrepreneurial application (mini ERP for SMEs) with complete features, not only cashier applications or cashier applications point of sale, but also includes inventory management, customers, accounting, employees, business analysis and orders online.

"majoo believes that SMEs play an important role in supporting the Indonesian economy. majoo also believes that every SME should have equal opportunities to access technology and the digital economy that can help SMEs to grow."

He added that SMEs have gaps in financial records, making their management inefficient, so that the potential duration of business survival is short, as well as limiting access to capital needed for business development to be able to advance to class.

This condition is a challenge for MSMEs to grow beyond their true potential. For this reason, majoo is here by providing a business support system that helps them optimize their business potential.

"Majoo's mission is to advance SMEs with innovation financial technology to accelerate the growth of Indonesia's digital economy. Support SMEs to advance class and can open market access to the digital world," said Adi.

Business model and monetization strategy

The business solution from majoo is an application with a monthly subscription fee or SaaS. majoo currently has paid users more than 15 thousand entrepreneurs spread over 600 cities in Indonesia with various types of businesses. Starting from F&B, retail, services, and other types of entrepreneurs.

"What distinguishes majoo from other platforms is that, as an entrepreneurial application (mini ERP for SMEs) with full features, majoo has also been integrated with the largest marketplaces in Indonesia such as Tokopedia, Shopee, Blibli, and Grabfood, to increase sales through various online channels. Everything is obtained with one subscription package at an affordable price without any additional fees (addons), said Adi.

Pandemic and business growth

During the early period of the pandemic, the retail segment was the most affected business with a decline in sales of up to 70%. However, within three months, the business returned to its normal upward trend and was more resilient. So that when the second PSBB did not have much impact compared to the first PSBB, it only decreased by 10%.

"Because retail is the main segment of majoo, so we immediately made a strategy change growth become efficiency and develop features that add entrepreneurial value during the pandemic to increase sales from online channel. Starting from online order, web menu, WhatsApp receipt and payment online, integration with Grabfood, Tokopedia, and services E-commerce others," said Adi.

Currently, Majoo's business performance is starting to experience higher growth than before the pandemic. The company believes that the crisis is a catalyst for the growth of new entrepreneurs who will accelerate digitalization so that in the future it will encourage the growth of the majoo business.

"Expanded vaccine distribution starting in 2021 will bring retail back to normal. With performance strong majoo business in 2020, we are targeting to achieve profitability at the end of 2021, and again planning to raise funds in Q2 this year, which was delayed last year at the beginning of the pandemic," said Adi.