BANGALORE, INDIA: txtWeb announced a short messaging service (SMS) application – ‘InSight’ designed by InVenture. InVenture is a micro-investment platform that allows everyday individuals to invest in small businesses in under-served communities across the globe.
Through their online platform InVenture connects supporters with growing micro-entrepreneurs, and allows them to re-allocate the returns from these investments in future micro-businesses. Taking InVenture’s platform to the next level the InSight app was launched on the txtWeb to track financial and social metrics of its micro-entrepreneur partners on mobile phones.
Data captured by the InSight app will help InVenture micro-entrepreneur partners track and analyze their financial performance, and give online supporters valuable information for measuring the social benefit of their “InVestment” instantly on their mobile phones.
“The beauty of InSight lies in its simplicity. The user responds to simple prompts and the responses are organized in such a way that allows organizations to easily access and analyze data from anywhere in the world. InSight service is aligned to textWeb’s vision – democratizing access to information,” says Rupesh Shah, director NGO Outreach & Partnerships, txtWeb.
Developed on the txtWeb platform, the InSight app prompts the micro-entrepreneurs to report their daily revenue and expenses via SMS to the InSight system. The data is tracked and analyzed by the txtWeb team, and easy to understand reports are sent back to the micro-entrepreneurs so they can follow their growth. The data captured by InSight can also be accessed by researchers, market analysts, and others interested in measuring the implications of small business growth on families living in poor communities.
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