Micro, Small, and Medium Enterprises, MSMEs, are the economic backbone of the Nigerian economy. In 2020 alone, they generated 96% of the nation’s income.
Across Africa, MSMEs account for up to 70% of the total revenue. Yet, they lack the business management infrastructure to help them grow. The business landscape is highly fragmented and inefficient. Despite these challenges, they continue to contribute to the nation’s economy while minimally sustaining themselves.
But why are MSMEs struggling to grow? Of the 40 million+ MSMEs in Nigeria, 82% lack access to all arms of business management processes. According to a report by PwC, 22% of stakeholders in the MSME industry say the pressure to reduce prices is the topmost economic issue. Difficulties in procurements, business management, and sales acquisition are some of the issues they face. Hence, they struggle with high operation costs, limited access to finances, and incapability to attract new consumers.
As a solution to simplifying business management, SigmaPAY is the “Operating System” of business. It enables enterprises to automate and manage financial operations.
Our AI-cloud ERP embedded with an automated banking and procurement system connects MSMEs to suppliers for procurements and customers for selling while enabling them to manage their business processes and finances. Businesses can open and operate a registered business account, supervise daily operations, and sell from SigmaPAY.
The automated system enables merchants to manage their inventory, finance, sales, and payroll records. It provides different payment options, including QR code, Card, transfer, and ACH which are integrated in our sales system. An integrated financial management tool also helps businesses keep track of expenses, income, profits, and losses.
SigmaPAY delivers a smooth, secure payment experience for you and your customers. The payment channel uses 256-bits SSL security encryption and connects to your bank account.
Our partnerships with delivery companies ensure that merchant products get to their customers in hours. Product delivery takes between 2-48 hours. Currently, we ship only to Lagos, Kano, Abuja, and Ogun states.
SigmaPAY is available online and across mobile devices. As a user, you can access your data on multiple platforms or export it for offline use.
We understand that the driving force of businesses is to generate sales and revenues. Hence, we built SigmaPAY with just one purpose – to help businesses to grow. In essence, we help businesses to get access to more customers, increase sales and revenue. With an automated business management system, we reduce management processes and help you to cut costs. We are also working on providing finances to our existing customers to ease inventory, payroll, and other business expenses.
In simple terms, at SigmaPAY, we help MSMEs facilitate faster business payments, eliminating the stress and delays in cash and check transactions. We deliver access to channels to reach and sell to customers, drive your product sales, and increase revenues.