txtWeb has launched a short messaging service (SMS) application -- 'InSight' -- designed by InVenture, which is a micro-investment platform that allows individuals to invest in small businesses in under-served communities.
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," said 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.
"InSight is a powerful tool that can work on any mobile device and provide the InVenture team with an understanding of how to further help our clients grow and be successful," claimed Shivani Siroya, InVenture's CEO and founder.
InSight will initially be rolled out to InVenture's partner organizations in India, with Mali and Mexico to follow soon after.