By developing cooperation with LMT, the palm-sized mobile cash register system “Tiki-Taka PAY” of the domestic information technology (IT) company “Datakom” has become richer in technology and more accessible to both large and small traders. According to Juris Binde, President of LMT, the main goal in developing these products was to provide a product whose functions were previously only available in complex and expensive systems that small companies can rarely afford.
For a long time, the technological explosion was on the side of consumers – convenient payments with a smartphone or clock are no longer new. But since Tiki-Taka PAY has entered the Latvian market, the daily life of merchants has also become more convenient and easier. “Technology influences and changes our way of life – starting with mutual communication and teleworking, ending with payments in the store,” emphasizes LMT President Juris Binde. “In developing this smart cash register offer, LMT’s goal was to provide Latvian small companies with a simple, modern and stable product, the capabilities of which until now were only available in complex and expensive systems.”
The Tiki-Taka PAY cash register system entered the market in 2019. In less than three years, the palm-sized cash register has conquered the market, convincing us that even a small device can include all the functions needed for work. Often, huge cash register systems are not only too big to record a business sale, but don’t even keep up with the progress offered by today’s online world. It is the small size and mobility that is one of the main advantages of Tiki-Taka PAY.
Companies that have chosen to work with Tiki-Taka PAY highlight how convenient it is to work with this product and easy to train employees. “We have these devices in both stores, and it was very, very easy to train employees how to handle them,” says Ilze Ķempe, a representative of Megango.lv. The cash register system is integrated with accounting, checks and a cash register available electronically. As a result, the company’s management no longer has to be present to follow the financial flow, as it can be seen from anywhere in the world. “21. century is coming with technology, we are experiencing the next wave of industrial revolution, the trade sector has so far remained in a state of stagnation. It did not have a proper competitor to shake the market. It was high time to change, improve the ability of entrepreneurs to reach and serve their customers, ”says Eddie Tanon, Datakom’s Director of Innovation.
Initially, Tiki-Taka PAY was a small cash register with various types of payments, but today it integrates such warehousing and accounting systems as “Excellent Standard Books”, “Visma Horizon” and “1C”. However, this does not stop the development of mobile cash register smart devices. Also this year, Datakom continues to expand the Tika-Taka Pay market and functionality, investing more than 100,000 EUR. The company is currently looking for partners in several European countries to export the product to other countries.
The developer of the Tiki-Taka PAY cash register system is the domestic information technology (IT) company Datakom, which has been operating in the industry since 1994. The company’s profit in 2020 was 881,000 euros, which is twice as much as in 2019, when the profit indicator was 418,000 euros.
“Communications & Strategies”