NeuRMS, an integrator of software and hardware solutions, has released a local software solution aimed at assisting the over 48 million Small and Medium Enterprises (SMEs) in Nigeria to retain foreign currency spent on purchasing foreign-developed retail management applications.
Nigeria spends more than $300 million on the purchase of foreign software and computer services.
At the NeuRMS launch in Lagos, Lanre Olaniyan, CEO of NeuRMS, noted that many retail business owners use foreign software programs to run their operations. He added that this presents a significant challenge given that the dollar to naira exchange rate is currently driving at N1,000 per dollar.
“SMEs in Nigeria trade in Naira; they sell and buy in Naira, but at the end of the day, the applications they are using to run their business is being paid in foreign currencies. It doesn’t really make sense,” Olaniyan said.
Even as he revealed that most Nigerian retailers use up to 45% of the capabilities of foreign applications but pay for them, the CEO claimed that many international software solutions are not created for Nigerians.
There are no middle ground users in most applications; you are either the owner or the cashier. If you insist, for example, that you need your manager to perform certain tasks, you must pay extra for that, he continued.
These and other problems led NeuRMS to develop the NeuRMS software application, which was meticulously created with the distinctive characteristics of Africa’s different economies and societies, according to Olaniyan.
“We looked at all these problems and we try to solve them with a solution that is contained in one word NeuRMS. NeuRMS is a standard for modern retail management. It is a retail management software that helps SMEs carryout their business in an effective and seamless way.
It gives visibility, in that it comes with a website presence, where retailers can sell their products.
“The app, helps retailers to manage their staff, including their pay roll, planning their shift, planning their leave, their roasters etc. It also has a POS system that monitors what retailers are selling. It will inform them when they need to restock a product.
The app gives them insight into their business on a daily basis. It makes retailers more smarter. Everything retailers would need to run their business seamlessly is on NeuRMS. We also offer technical support 24 hours to resolve most technical issues that might arise,” the CEO averred.
