Hyper-Inflation is Back

Transform your business with FIGJAM’s Van Sales Solutions

Combatting Zimbabwe’s Inflation Crisis

Zimbabwe is facing ongoing challenges including high inflation, financial erosion, exchange rate instability, and tightly regulated trade. As a result, economic actors, such as suppliers, distributors, and manufacturers involved in modern trade, are significantly impacted by the economic quagmire caused by the use of the local currency. In the past 2-months alone, the local currency has depreciated by over 694% (1USD:1009ZWL on 1st May 2023 to 1USD:7000ZWL on 20th June 2023). June 2023’s official inflation rate soared to 86.5%, while independent economic experts estimate the actual rate to be much higher. This crisis has dealt a heavy blow to businesses, particularly those operating in the retail and wholesale distribution sectors.

In contrast, the general trade sector (informal sector) is largely dominated by cash sales in USD and is less regulated. This sector is estimated to account for more than 60% of the local economy.

Many businesses rely on a credit facility of 30 to 60 days with their suppliers. However, this becomes unsustainable and untenable in the face of hyperinflation and unpredictable exchange rates. Any payment delays in the local currency (ZWL) cause untold losses for businesses.

Zimbabwe’s historical trends show a cycle of volatile inflation, leading to uncertain predictions for the future. However, one certainty remains: businesses capable of reducing their credit dependency and enhancing their cash flow will be better equipped to confront the challenges posed by inflation.

References

Zimbabwe Inflation Rate
Modern Trade Distribution in Zimbabwe
Informal Sector in Zimbabwe

Discover FIGJAM’s Van Sales Solution

FIGJAM’s Van Sales Solutions offer businesses in Zimbabwe the key to equipping themselves to effectively confront challenges of inflation. Our software empowers businesses to mobilize their warehouses, directly deliver stock to customers, and streamline the sales and distribution process. With these capabilities, businesses can enhance cash flow and minimize reliance of sales on credit.

Van Sales enables businesses to monitor inventory and sales data in real-time. This valuable insight empowers better decision-making regarding pricing, inventory management, and marketing strategies.

Benefits of FIGJAM’s Van Sales Solution

• Amplify cash flow: Reduce credit dependence, enhance cash flow, and allocate resources for business expansion.
• Cut costs: Streamline your sales and distribution process, effectively reducing operational costs.
• Elevate customer service: Directly bring stock to customers, boosting customer satisfaction and service levels.
• Uncover business insights: Access vital information like inventory levels, sales data, and customer behaviour to drive informed business decisions.

Features of FIGJAM’s Van Sales Solution

• Stock exposure and sales dashboarding: Track inventory levels and sales data in real-time, enabling improved decision-making on pricing, inventory management, and marketing.
• Stock loading and unloading security verifications: Securely load and unload stock to prevent theft and loss.
• In-field transactions and mobile receipt printing: Process sales transactions on-site and print mobile receipts, enhancing customer service and reducing paperwork.
• End-of-day settlements and stock reconciliations: Reconcile stock levels and sales data at the close of each day, ensuring accurate inventory and sales tracking.

FIGJAM’s Van Sales Solutions empower businesses in Zimbabwe to confront the challenges of inflation by enhancing cash flow, reducing credit dependence, streamlining sales and distribution, and gaining valuable insights for informed decision-making. It’s time to optimize and safeguard your business operations in the face of economic uncertainty.  

Contact us today to learn more about transforming your business.