Small business owners often can’t get data about their own business performance, let alone info about their customers, competitors, and markets.
Small businesses are underserved by technology. One major reason: lack of access to data.
Small business owners often can’t get data about their own business performance, let alone info about their customers, competitors, and markets. This problem is particularly acute for brick-and-mortar businesses, including retailers, service providers, restaurants, and so forth. Legacy technology and the physical (as opposed to digital) interactions with customers make it harder to collect, store, access, and draw conclusions from data.
Take revenue and transaction data as an example. For security and other reasons, most small businesses can’t access their own raw credit card transaction data in a format that allows them to understand basic business trends. Even with the best tools and biggest analytical brains, it’s nearly impossible to draw useful insights when your data is small, fragmented, and hard to access.
Womply’s mission is to help small businesses thrive in a digital world. We’re uniquely positioned to help small businesses in part because we provide unmatched access to data. Womply has partnered with scores of the nation’s largest credit card processors—companies that process electronic payments for millions of merchants around the world.
Womply sees more economic activity every day than Amazon and eBay combined
As a result of these partnerships, Womply analyzes millions of new merchant transactions every day—and hundreds of billions of dollars in historical transactions. To get a sense of scale, Womply sees more dollars of economic activity every day than Amazon and eBay combined, and at least ten times more than Square. Our transaction data is broad and deep: it originates from nearly every zip code in America, spans more than 400 business verticals, and includes data on hundreds of millions of card holders.
Womply combines this transaction data with billions of other data points—ranging from customer contact information to weather to online reviews (plus much more)—to generate unique and tailored insights that help small businesses make better business decisions in record time. These insights are then integrated with our suite of intuitive software tools so owners and managers can easily take direct action.
Our goal is not simply to level the playing field for small businesses, but rather to tip the scales in their favor
Until recently, small businesses were at a disadvantage when compared to big enterprises or online competitors. Today, Womply gives small businesses the data and technology tools they deserve. Our goal is not simply to level the playing field for small businesses, but rather to tip the scales in their favor. To see more interesting facts about what our data tells us about small businesses, credit card spending, and more, go to our Small Business Almanac.