It uses a system called Azurite which, among other,
harnesses machine learning to understand customer behaviour and the Internet of
Things to monitor assets.
“Our future business is not based on technology, but
technology is critical to our business,” says Field. “It enables us to deliver
our product in ways that are more efficient and better than most. It is
important to not fall in love with the technology you are currently using but
to keep your finger on the pulse to find new ways of doing things more
efficiently and effectively.”
Azurite runs all aspects of the business, including its
website, applications, customer relations and business processes.
“From the same system, we get reporting, analytics,
gamification, dash-boarding and a whole host of other features that enable us
to service our clients better and faster.
We believe that our display of data is unique. Every critical number in
the organisation is available for everyone to see every 15 minutes. The value
of that is priceless.”
But price is exactly where the system has its biggest
impact.
“We wanted to create a product where people from all walks
of life could place a low value or affordable amount into an ecosystem and make
good returns,” says Field. “We needed a highly automated system that did not
need people to run it. By using Azurite,
we could ensure that each investment went straight to the borrowers or
farmers. If there were system fees, it
would take between 1 and 3 % of the investment. By having this system, we could
ensure that each investment did not cost clients’ money to run the system.”
Beehives and blueberry bushes still need feet and hands on
the ground to maintain and optimise. But increasingly, sustainable investments
like solar panels almost run themselves.
“We use the IoT
functionality to ensure that our solar panels are performing properly as it
constantly measures what is going on,” says Field. “Evolving technology takes
care of evolving needs, thus bringing sustainable value to clients.”
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief
of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube.
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