ENNOTA is a financial management application that empowers micro and small businesses owners in developing countries to grow by supporting people with financial literacy tools and training. These tools provide a financial overview of a business as well as coaching modules to increase the user's understanding. The product adjusts for various levels of financial literacy and adapts to the user’s skill level. This integrated education in finance enables users to advance their knowledge and use the application fully. It is designed to promote collaboration (with co-workers / partners or even an accountant), all the while using banking level standards to secure all transactions.
The cloud-based, cash flow management tool enables small businesses to record their transactions and view their data in a visually intuitive way; it is specifically designed for business owners with no strong technical or accounting background. With intuitive learning using pictograms and similar graphics, the app offers up to nine different levels and ascends according to increasing businesses expertise.
The app can be downloaded free of charge and usage requires a monthly subscription fee. The proposed subscription cost is $5-$10 USD per month.
90% of the 100 million small and micro businesses in the developing world use pen and paper to manage their business finances. This is because existing tools are generally created for qualified accountants. Business owners who do not have access to professional accountants limit their access to formal financing.
The app is aimed at helping to empower SMEs in the MENA region by supporting their financial control and overview of their accounting. Their lack of adequate financial skills limits formal financing, meaning business often can, and should expand, but are not able to due to poor cash flow. Limited or poor financial accounting can mean that businesses are denied bank loans which are needed to grow, but this educative system is adaptive, in that it expands in features as it increases the level of financial literacy of the user.
Publicly available: Yes
Countries where available: Egypt
Price range: 1 to 20 USD