Frequently Asked Questions (FAQs)
For Support Organizations
Q1. How much time and effort does it take to run a pilot?
A: Very little. We provide a short “Train the Trainer” session, a 1–2 page setup guide, and ongoing tech support. All you need to do is invite your cohort (e.g., 30 entrepreneurs) to sign up. We handle the rest—no complex integrations or extra surveys.
Q2. What kind of data do we get for donor reporting?
A: Ascent automatically collects daily transaction data, credit logs, learning activity, and user engagement stats. We then generate simple weekly summaries (e.g., number of active users, total transactions logged, weekly profitability, quiz scores, and individual storytelling). You can show donors real-time, evidence-based impact without manual surveys.
Q3: How does the revenue-sharing model work?
A: If your participants continue using the platform after the pilot, your organization can earn a small monthly percentage of any future paid subscriptions. While our platform is free for use, we will be creating business-supporting features as additional items for purchase. This creates a new funding source beyond grants, helping you sustain programs long-term.
Q4: Do we need to integrate Ascent with our existing tools or CRM?
A: No. Ascent is standalone and designed for low overhead. We handle all data collection; you receive high-level usage reports. If you ever want deeper integration, we’re open to exploring custom solutions in the future. However, we're aiming for low-cost, high-quality solutions. Not enterprise level solutions or cost
Q5: Will donors trust the data we get from Ascent?
A: In our discussions with donors, they are ecstatic about the data coming from this tool, and has never been achievable by ESOs previously. Ascent provides timestamped transaction logs and aggregated metrics. Everything is transparent and can be verified. You’ll have real-time usage data, which is often more credible than post-hoc surveys.
Q6: How secure and private is participant data?
A: We encrypt all data in transit and at rest. We comply with GDPR-like principles to ensure participants’ personal and financial information remains confidential. ESOs see only anonymized or aggregated data, unless participants specifically opt in to share details. You can see our official data security policy here.
Q7: Is the platform customizable with our branding?
A: To offer this service at such a low price, we operate under a multi-user model similar to YouTube where content providers can create customized profiles with their branding and details. However, the platform is not fully customizable.
If you need such a solution, feel free to reach out and we can discuss more details.
For Financial Service Providers (FSPs)
Q1: How does Ascent help us evaluate credit risk?
A: Ascent captures daily sales data, credit transactions, and repayment patterns. Over time, we can provide an informal credit score based on consistent revenue, profit margins, and timely credit repayments—offering more insight than traditional statements alone.
Q2: Can I see real financial statements from MSMEs?
A: Rather than formal statements, Ascent produces continuous cash flow insights and transaction logs. This raw data is often more reliable for micro-entrepreneurs who don’t have formal accounting systems and think in terms of cash rather than accrual accounting.
Q3: Do we need any special infrastructure to access this data?
A: No special infrastructure needed. We can share aggregated or user-level data (with consent) via secure dashboards or weekly reports. Everything is handled on Ascent’s platform—no heavy integrations required. We can provide bespoke, data sharing agreements on a case-by-case basis.
Q4: Is this solution compliant with our security standards?
A: Yes. We use industry-standard encryption and adhere to best practices for data handling. See our data security policy for more details.
For Business Owners
Q1: How do I get started with Ascent?
A: It’s easy. Just create a free account using your phone or email. Once logged in, you can begin chatting your transactions or entering your current cash balance immediately.
Q2: Is Ascent really free?
A: We have a free tier that covers essential financial tracking (income, expenses, credit sales). We're looking into future, premium features (like advanced AI insights) that may cost $3–5/month, but our core application will remain free.
Q3: Do I need accounting experience to use it?
A: Not at all! Nearly all of our businesses use the tool without an accountant or any accounting experience. That's what the system is for!
Ascent is chat-based, so you can just type “I sold 3 shoes at $10 each.” The system does the math and organizes data for you. No forms or spreadsheets required.
Q4: What if I forget to log transactions for a few days?
A: No worries—Ascent can backfill data if you enter your new cash balance. Our AI will attribute any missing inflows/outflows so your books stay accurate. This will be entered as an unknown revenue or expense if you don't fill in the details, and we encourage you to add as much detail as possible. However, it's not required to stay up-to-date. We recognize that life gets busy, and this happens to everyone. Don't give up because you missed a few days or weeks! You can also edit or correct past entries anytime.
Q5: How does credit tracking work?
A: When a customer owes you money, just log it as a credit sale in Ascent by saying "Credit" instead of "Cash". We’ll remind you or the customer about due dates, so you don’t forget to collect. You can also see a Credit Dashboard showing all outstanding amounts at any time.
Q6: Can I use Ascent in my local language?
A: Absolutely! We currently support 15+ languages and can add more quickly if needed. You’ll see chat prompts and instructions in the language you choose—making it accessible to anyone with a smartphone.
Q7: Will my data be shared with anyone else?
A: Not without your permission. We never share personal transaction details with third parties unless you explicitly opt in (e.g., if you want to share data to apply for a loan). Your privacy is a top priority. See our Data Security Policy for more details.
Q8: How do I update or cancel my account?
A: You can manage your subscription and profile settings directly from the app or web dashboard. If you have any issues, just email us and we’ll help you cancel or update in minutes.