Square, Domo partner on merchant data analysis
Merchants with multiple Square accounts will have a new app designed to help analyze business data and trends through Square's partnership with business management company Domo.
Domo for Square provides real-time consolidated reporting of all Square data from all business locations into one place for sellers to collect, analyze or distribute as needed.
Filters in the app help reveal insights through metrics such as period-over-period comparisons, or sales by category or sales type, including those made through cards or cash. Domo for Square essentially gives users an instant spreadsheet for their operations.
For its part, Square has spent much of the past year looking to boost its application interface offerings to appeal to a wider range of business models.
"Domo for Square gives sellers a never-before-seen look into key metrics across multiple accounts, and offers them the ability to customize their insights and reporting, to best meet the needs of their specific operations,” Pankaj Bengani, global partnerships lead at Square, said in a Thursday press release. “We’re excited to see the impact of the Domo for Square app on our sellers’ businesses.”
The app is available in the Domo App Store and the Square App Marketplace for users to download.
“Domo was built to put your data to work for you, and Domo for Square is a great example of our platform put to action,” Jay Heglar, chief business officer at Domo, said in the release. “The power of Domo is around combining any source of data, extracting key metrics from that data and putting it into the hands of everyone in an organization to make real-time decisions that drive business value."
The companies cited New York weekly food market Smorgasburg as a Domo for Square customer, using the app to gather business data related to its three Brooklyn markets and its downtown Los Angeles location.
Smorgasburg is "complicated behind the scenes and we wanted to improve both the vendor and consumer experience with more fluid transactions and better insight into sales data," co-founder Eric Demby said in the release.
The business has advanced from trying to gain business insights "the old-fashioned way" to learning how to analyze the data in real time, Demby added. "We're consolidating all our accounts into Domo to build our Apple Pay reporting, and can now easily observe key metrics across all of our vendors."