Many research studies affirm that the most hindrance to the growth rate of MSME
business is the lack of access to funding from financial institutions. Without
convenient access to the source of fund, such as bank credit, MSMEs’ business
growth will be stuck at where they start off.
For example, a
merchant who needs to double his profit has to double his moving capital.
Usually, he will resort to using personal wealth or loans from close relatives.
However, it doesn’t always work out well as planned. Commonly, he won’t get the
exact nominal as desired in the first place.
Tokoin.io – Data can represent everything. Information, numbers, facts, instructions that are helpful to understand an object or an entity that exist within an environment. In a business environment, data means any information related from the production to the consumption process that acts as archives or records, beneficial to the significant future action to achieve better business result, be it the efficiency for productivity or to obtain better revenue. There is a valuable thing that can be figured out from a set of data.
According to the World Economic Forum,
To operate effectively and efficiently, economies need reliable, continuous, and affordable access to data.
The existence of data can drive a company’s decision and concerns regarding to planning and marketing. With the right set of data, companies can determine to channel their products promotion to their target audience. This action will lead to cost efficiency in marketing strategy. By targeting the exact market that is highly likely to consume the products offered, companies are able to promote directly and the conversion rate of the marketing channel are more likely to increase.
Relevant data allows companies to discover market needs. Setting the data to the most specific way is one way to understand the market. Use case that is closest to be applied to market the products is the product dispersion based on the geographic level. From one city to another, the company can measure the acceptance of their products. By driving their product distribution to the highest receptivity, companies can expect higher revenue and income. Therefore, companies can also expect lower excess products that are stuck in stores and retailers.
Every company in general, has the budget allocation for marketing and promotion. With this budget, companies will test the market in terms of product receptivity by the conversion measured from the marketing strategy. But, the downside of this method, the audience is unknown. If only the companies have the insights in advance about their market, they can allocate their budget to the right market for better targeting which leads to better conversion and revenue.
These use cases are applicable to the marketing allocation of the brand companies and manufacturers. Answering all the needs, the role of data in business is better targeting, so the companies are allowed to channel their marketing cost and expect better result of conversion and revenue in return.
Now the question is, how to acquire the data, and what kind of data that are best to to give the desirable result? The answer is, listing of business profiles. Specific business profile covers business sectors, location and value demand from a particular range of time. This specialized set of data are possible to obtain from business transactions. To make the purpose of data collection and pooling is possible, Tokoin engages to the transaction of business existing in any online trading ecosystem.
Tokoin works by accumulating the business profiles that are registered and validated in the Tokoin platform. Therefore, companies can be assured that the data compiled are accurate, as the data providers are the participant of the ecosystem. In the ecosystem of data in Tokoin, companies are allowed to receive demand from their actual buyers. The transaction history that are done within the Tokoin platform are also recorded to provide such market overview that are beneficial to gain insights about product demands from their buyers.
Technology is a tool for SMEs to seize bigger opportunities to accelerate their
business. The blockchain is a technology that can assist business
transformation. To fully embrace the technology-driven transformation,
businesses must be willing to learn and adapt to this change and keep with the
revolutionary process. In the blockchain network, a business ecosystem will be
built based on decentralized governance principles to ensure that all of the
business participants will engage in a secure, efficient, and transparent business
As a coffee
shop owner, almost every month, Deni needs to spend some money on product needs
and various invoice payments to be his coffee shop’s working capital. This
working capital is in cash, being a liquid asset, used to finance the
day-to-day operations of the company. By having accurate information about
working capital, one can plan and manage business properly, as well as facing
less confusion when about to make any investment decisions.
Tokoin.io – In the business world, the availability of market overview data could be a game-changer for entrepreneurs, especially sellers (brand companies). The data could be anything related to the market overview, including buyers’ behavior.
Tokoin.io – To
support smooth flows in a business model, a proper ecosystem is needed. Related
to this, a B2B ecosystem constitutes an order of arrangement to convey the
experience of distributing values from one participant to another. Each
participant holds a determining role in order to keep the ecosystem fruitful to
every business involved.
Iansiti and Levien (2004) compared a business ecosystem to a biological ecosystem and maintained that:
“…a biological ecosystem provides a powerful analogy for understanding a business network. And like business network participants, biological species in ecosystems share their fate with each other. If the ecosystem is healthy, individual species thrive. If the ecosystem is unhealthy, individual species suffer deeply. And as with business ecosystems, reversals in overall ecosystem health can happen very quickly.”
Analogous to a
biological ecosystem, a B2B ecosystem works by involving two-way interactions
between all participants in an environment in favor of mutual growth and
evolution of populations in the forms of commensalism, competition, and
mutualism. The concept of a healthy ecosystem is outlined by the contribution
of every main organism involved. The roles of the organisms as the main partakers
can be seen as a supply chain from one end to another. Manufacturers as producers
in the upstream provide their goods to resellers in the downstream without any
destabilizing interruption in pricing and market overview. By excluding sales intermediaries
and individual buyers, the supply chain goes directly from upstream to
downstream through efficient data distribution and a precise targeting on a
interaction forms a mutual relationship since the resellers, as business buyers,
need the lowest prices possible and manufacturers desire to know the actual
market situations prior to product innovation and development. The mutual needs
can be fulfilled in a well-ordered manner of data provision. The adaptation of
blockchain technology in a B2B ecosystem is seen as an applicable solution to
disrupt the traditional supply chain which typically includes layers of
intermediaries. Resellers can quote directly to the producers to get the lowest
prices, simultaneously generating real-time and actual data pertaining to the
market overview producers.
the above system on a marketplace, Tokoin provides the shortest way for
business participants to connect without layers of intermediaries. In order to
build an ecosystem consisting of valuable assets, Tokoin is developing a
blockchain-powered platform to equip every participant with security in every
transaction and a more trustworthy relationship, resulting in a valuable
partnership between partakers.
The blockchain platform enables data exchange in a decentralized manner. There is no central entity collecting data. Instead, data will be securely and immutably stored, eliminating any kind of data abuse and manipulation, as well as creating an ecosystem of organisms that are linked together in a mutual way. Concurrently, new generations of business customers are conditioned to emerge on the platform.
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Tokoin.io – As a player in the business world, every business owner would want to use all possible resources to run his/her business smoothly and eventually gain benefits. To establish reputation and credibility, businesses are expected to keep up with the latest technological trends. This could mean that businesses would build not only physical but also digital properties. These digital properties constitute valuable assets which need to be kept securely so that they can only be accessed by the parties trusted in the business network.