Pace Automation, an Indian technology firm which is assisted by IBM’s public cloud unit has created an all-inclusive platform for local grocery stores by creating a software that aims at bringing around 1,50,000 local grocers onto its platform to provide them with an ever increasing online customer base .
“The customer can pick the slot it will be delivered in and the store they want the groceries from. We will provide the technology back end, the point-of-sale device and it will all be cloud-based,” says SG Chandru, Chairman of Pace Automation. Pace Automation is working its way into various parts of India to make lives easier for these vendors and grocers by networking with distributors in Tamil Nadu, Karnataka, Kerala and Delhi. Goodbox was one of the first applications that introduced small establishments like local grocery stores to e-commerce which was then followed up by companies like Pace which runs on cloud computing technology.
SG Chandru, further wants to introduce these grocery stores to financial activities that will rake in more profit. “We are tying up with a bank, so the store can also act as a micro-ATM and customers could withdraw cash at the store. In addition, we are also creating a partnership with an insurance firm so the store owner could also act as a sales channel for insurance,” says the Chairman.
These financial services have the capacity to increase additional earnings of the stores by Rs 10,000.The technology cost for an Aadhaar-enabled point-of-sale (PoS) machine is approximately about Rs 60,000 and the merchant would then pay Rs 2,500 a month for the services. With final agreements closing next week, he strives to help these stores procure access to bank funding and valid financial statements through good old technology. This goes in line with the recent economic developments that took place in the country in relation with demonetization and also helps in making a true effort to mobilize a cashless economy.