Running a business from the comfort of your home has never been as easy as it is today. There is no longer a need for an office building, an extensive staff list, or even face-to-face interaction for a business to be successful.
All you need now is a laptop, a smartphone, and a spirit that won’t quit!
So, let’s pay homage to the technology that has allowed Kasi businesses to thrive. We will be taking a closer look at how this age of information has led to the explosion of ecommerce and small and medium-sized enterprises (SMEs) in South Africa. By the end, you’ll be able to see why even more businesses are sure to follow.
The Technologies Used to Build Kasi Businesses
5G & WiFi
The internet has made it easy to travel anywhere in the world in the blink of an eye, albeit virtually. We’ve come a long way from having to wait for the internet’s original dial-up system to kick into gear. As the standard of WiFi software and hardware increases, the speeds and capabilities improve as well, making accomplishing online tasks fast and easy.
The current capabilities of internet connectivity have made ecommerce a joy to be involved in. By the simple act of turning on your laptop, the entire world awaits. Social media has also embraced this faster internet and is now a marque of the online space, making it easier for businesses to plug directly into their consumer base.
5G has made phone connectivity just as efficient as using a laptop or computer, and the next generation of WiFi, WiFi 6, will allow for faster speeds on individual devices, even when connected to a shared network.
Machine Learning and AI
Artificial Intelligence (AI) is simply the intelligence that a machine or piece of technology possesses. Machine learning (ML) is a branch of AI and computer science that observes the way a machine uses data and algorithms to imitate the way that humans learn, improving its accuracy along the way.
What this means for you and your kasi business is that you do not have to be as smart or know as much about certain aspects of your business as you might’ve needed to in the past. The advancement of AI gives you the freedom to know the essentials and let the technology do the rest.
As AI and ML advance, you are able to streamline processes and complete tasks by yourself, without the use of heavy machinery or many working hands.
“Lost in the cloud” is not only an expression for that grandfather in the movie Up, but it is also how we describe losing valuable information online. Cloud services have become an essential part of our daily lives, and they have truly transformed the way we live and do business.
A cloud service is an online platform that allows you to store data and information online. Before cloud services, we had to rely on the limited storage capabilities of our hardware. With cloud solutions, your online storage options are almost unlimited, and in cases where you have to pay a fee for your online space, it is almost always cheaper than if you bought a device with the same storage capacity.
Not only does the cloud allowed for data to be easily stored, but it also makes it easier to complete large file transfers. During a file transfer, the cloud will temporarily store the data once received from the sender until it has reached the recipient. This takes the pressure of the transfer off of both devices and places it on the cloud server, making the exchange quick and painless.
Cloud servers have also improved the functions of email and social media, and have made data collection and downloads possible from anywhere on the globe. Some top options for South Africans include Afrihost, IBM, Cloud, Host Africa, Go2Cloud, Microsoft Azure, and Amazon Web Services.
Integrated Financial Software
There was a running myth that people in the kasi preferred to use cash over wireless money services. The immediate adoption of cashless payment facilities by vendors and customers alike proves that using cash was not a matter of preference, but a necessity.
Virtual transactions are now possible through the likes of internet banking and EFT payments. Contactless payments are in full flight, with Tap-and-Go leading the charge. The recent implementation of Tap-on-Phone technology means that vendors can accept payments anywhere, at any time, directly on their smartphones.
Kasi entrepreneurs can now worry less about receiving money and focus more on growing their businesses. And their customers can walk safely in the streets without carrying cash, knowing that they can make any desired purchase with their smartphone, smartwatch, or bank card.
Access to Capital
A wonderful thing about the innovation of integrated financial software is that it has made gaining access to capital much easier. Instead of having to go into a branch of a bank or to the offices of a microlender, vendors can now raise their business capital directly from their smartphones. Options like the iK Cash Advance allows vendors to get their cash relief directly on their iKhokha app! No paperwork, no hassle, only an invitation to build the business of your dreams.
One innovation that is silently adding to a kasi business’ viability is blockchain. Blockchain is a system that maintains a record of transactions made in cryptocurrencies such as Bitcoin and Ethereum. Local business owners can take advantage of this by trading currencies or by becoming an NFT artist. Blockchain adds yet another avenue through which kasi business owners can complete financial transactions.
Apps for Kasi Business Owners
Now that you know how technology is helping you launch and grow your kasi business, here are some innovative Apps that can make your journey that much easier:
- The iKhokha App is your one-stop-shop for all your kasi business payments. Send and receive payments directly on your smartphone or through your iKhokha card machine.
- Fassernate helps entrepreneurs enter and navigate the ecommerce space, supporting and promoting their businesses and products.
- Spazapp allows small business owners to make large purchases directly from their suppliers.
- The Khwela app gives informal transport users the information they need. From taxi routes to changes in fare prices, Khwela has it all.
- Order Kasi is the number one food delivery service for kasi locals.
Modern technology has breathed new life into the kasi and its dwellers. People in the kasi have always had the hunger, drive, and determination to do big things. Now, they have the means through which they can accomplish all their dreams.
Keen to learn more about how to start, manage and grow your business eKasi? Check out The Kasi Business Boom & The Opportunities That Lie Ahead for more!