Ricardo Alejandro Ortiz Deulofeut

  • Current company Siigo
  • Country Colombia
  • Inudstries Technology

SIIGO provides robust and affordable accounting and management software solutions to small businesses. SIIGO’s financial and accounting software helps small businesses better manage their financial information. The complementary iSiigo enables clients to automate and integrate business processes for transactions with a cloud-based business management software. Born out of a need for an affordable accounting solution in 1988, SIIGO has since adopted the SaaS model to serve micro-businesses that outsource accounting services using SIIGO software. With innovative solutions and personalized service, small businesses can increase efficiencies while minimizing costs.

SIIGO controls 11% of the Colombian software market for small businesses and is currently seeking to expand its market share and customer base of 18,000 licensed users. As the Colombian government undertakes an effort to increase internet penetration to 90% of the country, the company has enormous potential to expand its customer base. The software boasts a 90% customer satisfaction rating and an attrition rate of less than 2%. As SIIGO expands on its expansive small business client base, it will offer new value added products and make its pricing more accessible to unexploited markets. The father and son duo plans to acquire at least one third of the Colombian market.

Ricardo already serves as a role model in the industry through his foundation which teaches accounting to low-income people. As an Endeavor Entrepreneur he will offer his expertise and know-how to the next generation of Colombian software companies. Endeavor has put the entrepreneurs in touch with mentors to update their technology as they transition to a fully cloud-based platform. Endeavor’s network has also advised them on constructing a viral marketing strategy for its new line of products.

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