Is Pivo the Solution Nigerian SMEs Have Been Waiting For?
By Tunde Ademola
When it comes to financial apps in Nigeria, we’ve seen all kinds—some are sleek but shallow, others are functional but frustrating to navigate. To make matters worse, many of these apps are practically useless for small and medium-sized businesses (SMEs) that need more than just a wallet. So when I heard about Pivo, a payment and financial management app supposedly created specifically for SMEs in Nigeria, I was curious. Could this app really deliver on its promises, or would it be another over-hyped tool that falls short when it matters most? Well, let me share my thoughts.
What is Pivo All About?
Pivo is designed to help businesses manage payments, invoices, and cash flow in one place. Unlike personal finance apps that focus on splitting bills or saving money, Pivo is specifically targeted at SMEs, especially those in supply chains. The app claims to simplify payment processes, provide visibility into cash flow, and even offer credit to businesses.
It’s ambitious, no doubt. But in Nigeria, where SMEs face unique challenges such as inconsistent cash flow, high banking fees, and poor financial literacy, Pivo has its work cut out for it.
The Good: What Pivo Gets Right
Tailored for SMEs
Unlike many other apps in the market, Pivo feels like it was actually built with Nigerian businesses in mind. The focus on simplifying payments and managing invoices is a big deal for SMEs that often struggle with disorganized finances. If you’ve ever tried to track payments from multiple suppliers while chasing clients who owe you money, you’ll know exactly what I mean.
Cash Flow Visibility
One of Pivo’s standout features is its cash flow tracker. The app provides a clear overview of your incoming and outgoing payments, which makes it easier to see where your money is going. For someone like me, who runs a small logistics business, this feature is a lifesaver. Before Pivo, I was constantly juggling spreadsheets and WhatsApp messages to keep track of payments. With Pivo, everything is in one place.
Quick Payments
Payments on Pivo are straightforward and relatively fast. You can send and receive money to and from multiple accounts, and the app integrates with different banks. This flexibility is particularly useful for businesses that deal with multiple clients or vendors.
Access to Credit
Now, this is where Pivo really stands out. The app offers credit to SMEs based on their transaction history and cash flow. This is a game-changer in a country where getting a loan from a traditional bank can feel like trying to milk a stone. While I haven’t used this feature myself, I’ve heard positive reviews from other business owners who say it’s helped them bridge short-term cash flow gaps.
Clean and Simple Interface
The app’s design is clean and easy to navigate. Unlike some apps that bombard you with unnecessary features or flashy ads, Pivo keeps things simple. This is important because, let’s be honest, nobody has time to be figuring out a complicated app when there’s work to be done.
The Shortcomings: Where Pivo Needs to Improve
Limited Awareness
One of the first things I noticed is that not many people know about Pivo. I only found out about it through a business associate who swore by it. For an app with so much potential, it’s surprising that it hasn’t gained as much attention as it deserves. This lack of visibility could be a problem, especially in a market where competitors like Flutterwave and Paystack are already well-established.
Occasional Glitches
While the app is generally smooth, I’ve encountered a few glitches here and there. For example, there was a time when a payment I initiated didn’t reflect immediately, and I had to wait a few hours before it updated. In the fast-paced world of business, delays like this can be stressful.
Limited Features for Certain Industries
While Pivo works well for businesses in supply chains and logistics, it might not be as useful for other types of SMEs. For example, a friend of mine who runs a creative agency tried the app but found it lacking in features that cater to her specific needs. Pivo would benefit from expanding its offerings to accommodate a wider range of industries.
Customer Support
I don’t know about you, but when I have an issue with an app, I expect quick and effective customer support. Unfortunately, Pivo’s customer support can be slow at times. There’s nothing more frustrating than waiting hours for a response when you’re dealing with a financial issue.
Personal Experience: Pivo in Real Life
Let me tell you a quick story about my experience with Pivo. A few months ago, I was dealing with a particularly difficult client who kept delaying payments. At the same time, I had a vendor breathing down my neck for an overdue invoice. Normally, this would have been a nightmare to manage. But with Pivo, I was able to track exactly how much was owed to me and how much I owed others. I even used the app to schedule a payment for my vendor the moment my client’s money came in.
That said, it hasn’t all been smooth sailing. There was one time when I tried to make a payment, and the app froze. I had to restart it twice before it worked. It’s little things like this that remind you that no app is perfect.
The Bigger Picture: Pivo and Nigeria’s Fintech Landscape
To understand Pivo’s potential, you have to look at the bigger picture. Nigeria’s fintech space is booming, with apps like Flutterwave, Opay, and Kuda leading the charge. But while these platforms focus on individuals or large corporations, Pivo has carved out a unique niche by targeting SMEs.
This focus on small businesses is both its strength and its challenge. On one hand, it addresses a market that is often overlooked. On the other hand, it needs to prove that it can consistently deliver value to this audience.
Is Pivo Worth It?
So, should you give Pivo a try? If you’re an SME owner looking for a way to simplify your financial management, I’d say yes. The app has a lot to offer, from cash flow tracking to quick payments and even access to credit. It’s not perfect, but the benefits outweigh the drawbacks.
That said, Pivo still has room for improvement. Better customer support, fewer glitches, and more industry-specific features could take it to the next level. And if they can boost their visibility, they might just become the go-to app for Nigerian SMEs.
At the end of the day, Pivo feels like a work in progress—but one with a lot of promise. For me, it’s been a helpful tool, and I’ll continue to use it as they make updates and improve the app.
What about you? Have you tried Pivo? I’m curious to hear what you think. Let’s gist about it!