MSEs generally keep a ledger to keep track of transactions. Although Enterprise Resource Planning (ERP) solutions are available in the market, they are often too costly for Medium and Small Enterprises (MSEs).
Hishab aims to bring the most impoverished, less educated or even uneducated population in Bangladesh to be able to use software without any prior knowledge. Hishab uses a voice- based data input system that works with any basic phone, where users can easily voice their needs. Hishab’s Artificial Intelligence-based system processes these voice messages to complete the ledger for its users.
Hishab utilises Automatic Speech Recognition engine (ASR) and an Advanced AI (Artificial Intelligence) to process any voice commands and communicate this with its API (Application Programme Interface). Primarily, Hishab eliminates the need for paper-based record-keeping by using the natural consumer behaviour using their ERP solution. In Bangladesh, the retail business ecosystem is as such that sellers repeat the item details including price to the buyers, particularly when the sellers are not using any kind of POS solution. The MSEs utilising Hishab solution would be eligible to secure micro loans from agent banks that Hishab is partnered with.
By September 2018, Hishab aims to automate over 70,000 MSEs with its voice-based ERP solution, and to process over BDT 26 Million worth of Micro Loan disbursed to the MSEs at 50% lesser loan processing time than required today and at lower interest rates.