Group5 - Feasibility reportx - ENTR201 - home

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Nov 17, 2013 (3 years and 11 months ago)

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Group 5

Tony Cole

Brian DeVaney

Kyle Frey

Ryan Hatfield

Tom Osbourne

Andrew Schiavoni

Feasibility Statement


Introduction

Essentially, our product, Blueceipt, is a downloadable application to your phone that allows you
to store your receipts and keep track of your money.
As paper is becoming a thing of the past; in
mail, file storage and even banking, there is a real need fo
r digital consolidation of personal
finances. Blueceipt is a technology that can do just this. By storing information in an easy to
read and access format on a device that our target market is carrying with them anyway,
Blueceipt is likely to become this

generations way of “balancing a checkbook.”

As most cash register systems are now PC based, they now have the capability of being produced
with Bluetooth transmitting systems.


Many cellular phones also now carry this technology.


The
combination of these

factors presents the opportunity for consumers to have an easier time of
keeping track of their purchases and keeping relevant information. Blueceipt is a Bluetooth
device that works with cash register to receive digital copies of your receipts, which you

can use
to transfer receipt information to your computers. This creates a much more organized and
digital way of keeping track of your receipts.

Once the appropriate payment method is chosen, the information will be stored in an easy to
view application i
n the phone’s hard drive.


This information would also be saved in a
spreadsheet that can later be uploaded onto a PC or Mac. It keeps track of the dates at which you
would have made the purchase, so it is easier to look up if there is

a

mistake in billing
. Also, in
the case of a return, the receipt information can be retrieved either by the user or the cashier once
a Bluetooth connection has been made. Blueceipt information can be stored on a PC or MAC
computer if the software is downloaded onto that speci
fic computer.

The market would mainly attract college students and young adults which are tech savvy. The
twenty to thirty

year olds that we are targeting

hardly fit the mold of people who balance their
checkbooks. This is an easy solution to keep track
of spending and prevent users from over
-
drafting on their bank accounts.

Technical Feasibility

This technical feasibility report outlines the software and applications that we intend on using to
build our Blueceipt transactions. We have researched the
phone software and register software
that not only has Bluetooth capabilities, but is able to pickup and receive documents via
Bluetooth. From our research we noted that some phones are able to send documents via
Bluetooth, but other phones need a software

upgrade in order to make paperless receipt
transactions possible. As we talked about in class we set up a meeting with a manager at Wal
-
Mart and discussed our proposed idea. They thought it was a great idea, but as we expected they
had lots of questions.
We plan on working with databases in order to save all of this information
over time and from the databases we will access these receipts as required from either the hard
drive of the phone or the database where all of this information will be securely sto
red.

The idea behind our method is fairly simple, but in order to actually implement as start our idea
we need to step back and piece together the technological aspects. Below I talk about the specific
software we are going to be using and why that softwar
e is appropriate, but first it is imperative
that we understand what is going to happen. Our technological main goal is to be able to walk
into a store buy an item either with cash or credit and have the option of having the receipt
electronically sent to
our phone via Bluetooth safely, securely, and efficiently. Now let’s dive
into the specific software and how it works.

JDBC

Java Database Connectivity. This is the application we will be using to connect our database to
our server. We decided to use this

as opposed to ODBC, which we had earlier considered.
Both
Microsoft's Open Database Connectivity (ODBC) and JDBC are based on the X/Open SQL call
-
level interface specifications. ODBC has one major flaw: It relies on the multiple uses of void
pointers and

other C features that are not natural in Java. JDBC is especially useful in
developing applications that run across the Internet. JDBC is downloadable from several
websites and is now accessible in the college. However to run JDBC software we must have
Apache Tomcat available and running simultaneously in the background. This could be a
problem as it is not available on all computers but a downloadable version is available online.
We as team members have each downloaded Apache Tomcat on home PC’s.

The J
DBC application can be represented in a three
-
tier model, commands are sent to a middle
tier of services, which then sends the commands to the data source. The data source processes
the commands and sends the results back to the middle tier, which then se
nds them to the user.
The middle tier makes it possible to maintain control over access and the kinds of updates that
can be made to corporate data. Another advantage is that it simplifies the deployment of
applications. The three tier can also provide
performance advantages.


3 Tier JDBC Diagram



GUI


HTTP



SERVER MACHINE



DBMS PROTOCOL


Java applet


Java

Server


JDBC



DATABASE SERVER


Java:

Our Database will be accessible through a java based front
-
end interface. Again all team
members have used some sort of java application either on their phone or at their computer. It
has a fairly simple interface and is easily programmable.
The reason we
chose Java programming
language is widely available to us and is also downloadable from several different websites. We
are using Jbuilder9, which is the current download available to us. We have not yet encountered
problems with this application.

Oracle
SQL

Oracle SQL is an application used to create databases and query them. It includes JDBC
technology allowing us to connect our database to our server in the fastest possible way. Once
the SQL querying language is learned the use of Oracle and SQL prove
s just as easy to use as
other database technologies such as MS Access.

The reason we chose to use Oracle SQL is due to prior use of the application by our group
members. Another contributing factor was the fact that Oracle is available to us in the colle
ge
and was also available to us on disc from the library. This allows us to work on our project both
in the college and at home. We did look into the possible use of MySQL as an alternative
querying language but we had previously created relational datab
ases using Oracle and found it
dealt with our needs sufficiently.

We also had to take into consideration the number of concurrent users of our system when
deciding on the technical applications we would use. The number of concurrent users is the set of
use
rs who are currently logged onto our system and using it to perform work at a normal rate of
operation. For example, two concurrent users would be a physician who is seeing a patient and a
nurse who is entering some vital signs. A concurrent user is expect
ed to use the system actively

DBMS

followed by periods of inactivity. To determine the number of concurrent users using the total
number of active users, use the rule:

Concurrent Users = Total Active Users * ¾

where Total Active Users includes users such as Fro
nt Desk, Nurse, Administrative, Doctor, but
does not count users who never use the system or who have not used the system recently.

Apache Tomcat:

Tomcat is the servlet container that is used in the official Reference Implementation for the Java
Servlet an
d Java Server pages technologies. The main reason why we picked Apache Tomcat
version 4.0 over some of its competitors was because this java script program is compatible with
Bluetooth and will allow for file sharing and the sending/receiving of documents.

Another plus is
this software is free and easily programmable as well.

Technical Conclusion:

As you can see the technical feasibility study is one of the primary components of the success of
this entrepreneurial idea.
We are now moving on from our propos
al and description stages and
are progressing towards the beginning of our development and design stages. Hopefully the
software that we have chosen to work with will prove to be the best applications for us. We will
discover this as we progress with dev
elopment and eliminate any technical problems that may
arise.
We feel that our software research is a key component of making sure we have efficiently
set up a way for the transaction to work efficiently and seamlessly. These programs are all
capable of b
eing integrated into registers and phones with modifications made accordingly.

Managerial Feasibility

Business Structure

Bluceipt’s legal structure will be a corporation. The Bluceipt Corporation’s board of directors will consist
of 6 members and their
names are Andrew Schiavoni, Brian DeVaney, Ryan Hatfield, Tommy Osborne,
Kyle Frey, and Tony Cole. As a corporation Bluceipt will be publically traded. This will help to raise
equity capital that we will use to help us further develop and market our Blu
ceipt software.

The first thing that we will need to do to get started is hire a team of technology savvy people to write the
software for our product. We intend to make money by selling our software to both large and smaller
retailers. We will focus hea
vily on department stores like Wal
-
Mart and Target where our technology can
be utilized most. Initially we will have to sell our idea to a store owner so we can test our product in the
field. We will go through many progressions until we can get to the p
oint where it is easy enough to use
without a Bluceipt representative at the store location to monitor everything constantly. Once we can
prove that Bluceipt is successful in one location then we will begin selling Bluceipt to more
establishments.

Busines
s Founders

Bluceipt will be founded by six members. They also are the same members that sit on the corporation’s
board of directors. They will be the keys to the success of the Bluceipt Corporation.

Ryan Hatfield(CEO)

Ryan is from Evansville, Indiana and

is studying Political Science and Entrepreneurship at Purdue
University. His political experience is a valuable asset to the company especially in its creation. He has
very strong communication and persuasive skills and his past leadership experiences q
ualify him to be the
CEO of Bluceipt.

Anthony Cole (CFO)

Anthony is a student in Purdue’s college of technology. The most important thing that he brings to
Bluceipt is his prior entrepreneurial experience. His company First Mate is independently owned an
d
operated. His experience in creating and operating a profitable business is a huge asset to the Bluceipt

team.

Kyle Frey (Chief Operating Officer)


Kyle is a management major and also has experience with Human Resources. He has worked in a
management c
apacity for several companies in his career. Kyle will be
responsible for ensuring that the
day
-
to
-
day business operations are efficient and effective and also for the proper management of
resources.

Thomas Osborne Jr.(Chief Technical Officer)

Tommy is an

chemical engineering major at Purdue. Tommy’s engineering background has helped him
to develop critical thinking skills that will aide us in the development of the Bluceipt software and initial
product offerings.

Andrew Schiavoni (Vice President of Marke
ting)

Andrew is from Massachusetts and is an economics major in the Krannert School of Management and is
also pursuing a minor in marketing and an entrepreneurial certificate.


With his economic and marketing
background he will stand as the VP of Marketing
.

Brian DeVaney(Vice President of Sales)

Brian is a Selling and Sales Management major at Purdue University. His experiences in retail sales and
management have made him a very effective communicator. Bluceipt will need someone who can build
relations an
d maintain rapport with customers. This will be an extremely crucial aspect if the company is
to succeed.

Financial Feasibility:

Blueceipt will revolutionize the business world in the sense of electronic transactions. To
develop our product and see it ta
ke place in everyday business, we have a very reasonable startup
costs. Our first priority is outsourcing the software development to a company that has
experience in the transaction software business. Blueceipt decided to talk with Intuit, the creator
o
f the Point of Sale software used in stores such as WalMart, Best Buy, Target, etc., to get an
estimate of to how much the development of Blueceipt would cost. After explaining our
product, expected cost would run around $20,000. This is rather expensive

due to the fact that an
update would be required for all previously installed software. The cost also takes care of any
security issues, making this a very difficult hacking task for the scam artists of the world. Intuit
will also be developing the phon
e application for Blueceipt which will be available to customers
from our website or the phone company’s site. Other costs and revenue numbers can be seen
from our Income Statement.

Blueceipt

Income

Sales





$
400,000

Gross Profit







$
400,000

Operating

Expenses

Variable Expenses

Salaries and wages



$150,000

Payroll taxes





22,500

Outside service




5,000

Advertising






12,500

Telephone





1,0
00

Miscellaneous






9,000

To
tal variable expenses



200,000

Fixed Expenses

Software





20,0
00

Insurance






6,500

Total fixed expenses




$
26,5
00

Total Operating Expenses





$
226,500

Net Profit before Taxes





$
173,500


This is a very basic copy of what our project could look like. It shows a healthy gain, but the
sale price
is up in the air. Based on this income statement, however, our business is definitely
feasible.


As of now, the officer team covers all of the startup expenses, even though they are projected.
We will always have a backup plan for a loan just in case our

funds do not cover all startup
expenses. This company, Blueceipt, will require little startup cost. The majority of the time and
effort will be spent strategizing the plan of action to put the software into place. The security
problems have been though
t through, even though we need to run tests in sample stores. Overall,
the financial part of this plan is in good standing.




Market Feasibility

The general market behind Bluceipt can be divided into two different categories; the mobile
phone companies t
hat support Bluetooth devices, and the major store chains that we will be
targeting for the implementation of our product. Each market has its own positions on wireless
technology and how it has been plugged into there infrastructure in response to the wa
ve of new
technology that has swept the world in past decade.

Major phone companies such as AT&T, Verizon, and Sprint have utilized new forms of wireless
technology to the fullest. Many products and services that these phone companies offer
including, 3G
networking, active sync programs, and Bluetooth technology, have spurred a
revolution in how multi
-
million dollar companies and average people go about daily activities.
With the innovation of Apple’s iPhone and its ability to download many different appl
ications
the rest of the wireless world has begun to follow the trend of offering users a multitude of
different wireless abilities right on their cell phone. An example of this movement would be the
Blackberry Alliance Program. This is an official Black
berry oriented group that is focused on
providing the best applications to Blackberry users. These types of organizations exist for
almost any smart phone and give software innovators, like ourselves, the technology and
knowledge to produce the most advan
ced secure wireless programs around. It is as simple as
choosing a certain technology and signing an alliance contract. As far as the feasibility of
contacting a cell phone company and getting a contract, this should be fairly simple but may
require a la
wyer to finalize an agreement.

Our biggest target will be the major store chains across America that have the capital and may or
may not already have the right technology that is compatible with Bluetooth/wireless
transactions. Some of the companies that our team has researched include
s Best Buy, Target,
and WalMart. All of these stores have already started the transition to wireless register
transactions which store all orders and receipts in a secure data bank within the network
mainframe. This in
-
turn makes it easier for these stor
es to host a wireless receipt transaction
program like Bluceipt. Aside from transition that would have to take place, Bluceipt already
has the momentum of the global wireless movement and “Go
-
Green” technology. In our
marketing campaign Bluceipt will b
e recognized as a “Green” product because of the receipt
paper that is being saved by sending information that is usually printed to your phone.
Companies will start to see savings of thousands of dollars on paper costs that can in turn be
implemented int
o 401k retirement plans or employee benefit programs. With all the different
benefits the world will see from Bluceipt the feasibility of this product seems that it should be
very high. However, smart phones are still the latest and greatest in the wirel
ess community and
depending on survey feed back it may be to early to introduce this type of product to the public.


Conclusion

As paper is becoming a thing of the past; in mail, file storage and even banking, there is a real
need for digital consolidation

of personal finances. Bluceipt is a technology that can do just this.
By storing information in an easy to read and access format on a device that our target market is

carrying with them anyway, Blu
ceipt is likely to become this generations way of “bala
ncing a
checkbook.”

As most cash register systems are now PC based, they now have the capability of being produced
with Bluetooth transmitting systems.


Many cellular phones also now carry this technology.


The
combination of these factors presents the opp
ortunity for consumers to have an easier time of
keeping track of their purchases and ke
eping relevant information. Blu
ceipt is a Bluetooth that
works with the cash register to receive digital copies of your receipts, which you can use to
transfer receipt
information to your computer. This creates a much more organized and digital
way of keeping track of your receipts.
This creates the Bluceipt idea and the feasibility report to
make the future happen.




Appendices



3 Tier JDBC Diagram



GUI


HTTP



SERVER MACHINE



DBMS PROTOCOL



DATABASE SERVER






Appendices Continued:


Java applet


Java

Server


JDBC


DBMS


Powerpoint 1

BlueCeipt

The easy way to keep receipts electronically

BlueCeipt Technology

No more receipts!

Easily viewable receipt
images on your phone

Store data for multiple accounts in an easy to use spreadsheet application

Retrieve data later for returns

Target Market

20
-
30 year old tech
-
savvy individuals

Already own an iPhone or Blackberry device

Familiar with Bluetooth
Technology

Not the type to balance a checkbook

How it Works, A).

• The BlueCeipt user makes a purchase

• The cashier asks whether they would like a paper receipt or a digital one

• User chooses digital and enters a passcode, much like a PIN number for a de
bit card

• When phone is accepting the transfer, the user is asked which payment has been used

How it Works, B).

• The information is sent digitally to the cell phone, the user now has a digitally viewable
receipt.

• In the case of a return, much of the sa
me process is used. A code is entered, and once
the PC
-
based Cash register is synced with the phone the information can be pulled up on
the computer and the process is repeated.

Our Mission

Create an efficient product to simplify receipt keeping

Merge PC

based registers and Bluetooth enabled phones using our easy to download
application

Help balance checkbooks and card accounts, go paperless!


Our Vision

• Completely change the traditional way of storing receipts by offering a great service.

•Grow and be
come a well
-
known name with our easy to use application

•Expand our product so that we can sell it to mobile device companies

Problem/solution

Problem

Too many receipts

Lost or misplaced

Hassle of organizing

Solution

BlueCeipt

Stores and saves receipt
information

Eliminates the paper

Competitors?

There are no direct competitors for BlueCeipt technology

Online Banking

SMS Services

App Developers

Sustainable unfair advantage

First mover advantage

Filling a niche market gap

Offer a digital solution

Strong
business plan with clear goals

Environmentally friendly solution

Cost effective as minimal use of hardware

Spending of the Capital Investment

1.Hire a tech team to make BlueCeipt…

2.Persuade stores to invest….

3. Trade mark…

4. Presentation…..