Improving Business Performance Using Financial Planning towards Application Based Business: Study Case of Antri.in

Abstract

Indonesia is ranked as the fifth country with the greatest number of startups in the world (Yudistira), more than 80% of those startups were an application-based business. The problem arises that startup failure rates are around 90% (Neil, 2015). In fact, the financial aspect is the second most contributing factor that causes a startup to fail (Angelucci). In addition, we found that Antri. in also faced the same problem as most startups, which is financial problems. Antri.in is an application-based startup company that provides an integrated system to do online queueing. Antri.in implements the system of subscription fee as the company’s main revenue stream and advertisement as company’s secondary revenue stream. The researchers use financial modeling projection to project the company’s finance. In 5 years, antri.in is projected to lose 7 billion rupiah as we are still in the developing / early stage. From the discussion and root cause finding, the reason for Antri.in loss is because Antri.in cash flow is bad, it needs a huge cost to operate while the company revenue and income is still limited. As the result, there are 4 solutions to prevent Antri.in’s lost, which are cost priority, human resource plan, business model expansion, and exit strategy.Keywords: Application, Financial Modeling and Planning, Business Technology, Internet of Things