MyIQ featured in NZ Entrepreneur
The NZ Entrepreneur Magazine posts articles sharing stories of innovation and entrepreneurship from businesses around New Zealand. As part of their “Innovation Nation 2021” series, MyIQ was very fortunate to be featured. The Article outlines the key features of MyIQ and how it can help businesses, as well as our plans to expand into Australia and other countries around the world. We really appreciate being given this opportunity to increase myIQ’s exposure as we aim to expand overseas.
You can read the full article through this link on NZ Entrepreneur website or continue reading here:
Christchurch software company MyIQ is set to expand into Australia, having polished its digital reporting solution which is turning heads in the franchise retail industry.
MyIQ is designed to make a range of connected businesses – especially franchises – collect and report the same retail data.
MyIQ’s parent company 2IQ was founded by Christchurch business software specialists Andrae Gaeth and Craig O’Loughlin in 2016.
After 2IQ’s inception, the pair spent the first few years bootstrapping and creating bespoke software solutions services for businesses who needed better reporting.
Each software solution, whether it was created for a tyre retailer, a franchisor of Stihl products, Storage Box, Savor Group or chains of restaurants - taught the 2IQ founders about the needs of various industries. These learnings would eventually lead to the creation of a business reporting toolbox they would call MyIQ from 2020 on.
Take the national chain Super Liquor, for example. The franchisor has 165 stores and the franchisee store in Invercargill may need to report on how Dewar’s Whiskey is selling each month. Meanwhile, another franchisee in Hastings may need to understand benchmarks of monthly whiskey sales compared to other stores. Between the stores is Super Liquor’s head office, which needs all reports to be collecting the same data and packaging it in a consistent way.
As Gaeth explains it, “In the last twenty years software has moved so fast sometimes it has left SMEs behind, so what Xero has done for accounting is what we want to do for cloud-based business intelligence.”
Key stakeholders have supported 2IQ on its journey. Callaghan Innovation and ThincLab put 2IQ through an accelerator programme, there has been RBP (Regional Business Partner) help to access HR and legal resources, and NZTE has helped with the push into Australia. Also, in 2020 Xero encouraged MyIQ to enter the Emerging App Partner Awards – for which they became finalists.
As of October 2021, MyIQ are poised to enter the very large markets of Australia, the UK and Canada, where franchise membership by SMEs is some of the highest in the world.
While 2IQ’s team of eight will remain Christchurch-based for now, Australia’s lockdowns are lifting and the entrepreneurs are hoping SMEs worldwide will relish any digital business tool which makes their job easier.