Wednesday, November 3, 2010

How far behind the curve are you? Technology

Check out this Video - DID YOU KNOW! ON YouTube.

Pretty interesting stuff. I think it is fair to say that if you have been using the same software for the last 3 years, 5 years, 10 years or more, it's time to consider alternatives. If you are using any of the widely used products, these are 20 plus years old. I promise that as you follow along with my articles, you will be better prepared in making a choice for the future. Participating with your suggestions, you might see your ideas emerge in our new product.

My passion and love for this business is the driving force to make this industry better. When I look at the state of our economy I ask myself, "What is going to make our economy better?” I look into the mirror with a blank stare, but "Can the Pawn Industry be better? Yeah! In lots of ways." I believe that when you put your store keys into the lock of your front door each morning, you would like your operations to be better. You will find this exercise offers a wide range of ideas, "low hanging fruit," to better your operation.

You are stuck and you don't know it! It's important to have an understanding of how software is created. I will keep this simple, so don't go yet! This process begins with a base architecture (like plans of a basement for a house); asking questions become requirements of the new product. So when your current system was designed long ago, its most important requirement was to print a ticket. That was so cool then. Today all of the current Pawnshop software developed in the 70's and 80's still sits on that base architecture. Problem is, over the years, they have built 4 more stories on top of that original house. A symptom is the difficulty of these providers adding functionality. Even the simplest changes become systemic. Have you experienced this?

They have all grinded to a halt and haven't offered substantial change for the last 10 years and it's getting worse. It becomes extremely difficult and expensive to remodel and add functionality. It's not their fault; the plumbing was built for this specific house. If you watched the video, the plumbing needs to be changed.

What gets exasperated for these system companies is that the business rules change along with technology; which in turn saps all of their resources, resulting in no time for a rebuild. Unless someone comes along with a game changing invention, you will remain stuck. Why change unless it's worth it? It is the same analogy as Microsoft and Google/Internet.

We are going to offer the game changer. We have 15 engineers working on this project. Our planned launch is March of 2011. This will be our sole focus—building a base architecture for 1000's of individual pawnshops. Utilizing Cloud Computing and the Internet. We will be partnering with EBay and Amazon and many more.

Stay tuned for more details and thanks for your time.