NORCROSS, GA – A company selling what it calls collaborative commerce software, afterBOT, has raised nearly $149,000 in debt financing, acccording to a regulatory filing.
The company plans to raise an additional $10,000 in debt funding, according to the filing with the U.S. Securities and Exchange Commission. These SEC filings sometimes lag actual amounts raised.
Retail oriented software
The company’s TransAccess real-time business solutions include a suite of sales reporting, customer service, tax auditing, transaction and compliance applications designed to serve the extended retail enterprise.
We’re seeing a number of retail-oriented software firms gaining traction as hard-pressed brick and mortar establishments strain to gain efficiencies and provide value-added services.
AfterBOT says it also has the only patented system that enables the generation and storage of a central repository of digital sales receipts from multiple retailers. Users can access all of their receipts via a digital dashboard they can view on a computer or mobile device.
The company notes that because afterBOT’s patented invention allows the digital receipt data to be securely parsed, stored and de-identified from individual consumers, the same system can use data from aggregated sales transactions across multiple retailers to perform detailed market performance analysis for retailers and their suppliers.
Converting receipts to digial has advantages
When the patent was issued, John Simon, CEO of afterBOT said in a statement that “While this type of detailed consumer purchase data has historically been available to leading retailers through their internal systems, our patented system is the first to allow the secure aggregation of this data across retailers.”
He added that “By converting paper receipts into digital ones, we empower the customer and provide the retailers with a much more timely and targeted system to merchandise to, reach and promote goods to their customers.”
The idea is to provide unique views of point of sale (POS) data to customers, employees, and suppliers.
The company recently introduced its QuickReceipts product, which it developed in conjunction with Intuit.
It provides a secure, online repository for consumer receipts from multiple retailers.
We’ve asked the company to give us a call and we’ll let you know more about them after we hear from them.
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
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Tags: afterBOT, debt funding, Georgia, receipt storage, retail software
