I was doing some searching under pawnshops today and I came across a website named Programming Pawnshops that I want to share with you. The website is from a young entreprenuer in the Phillipines named Leslie Cagas who develops pawnshop software. I’ve been around pawnshops all my life but I must admit that pawnshop software is something I’m not expert in. But with the advancement of technology it will play a role in the pawnshop industry just as it does in every other industry.
Mr. Cagas points out on his website that the forms from the BSP are not very electronically friendly. That is correct and at some futre point in time the BSP is going to be doing a lot of updating of its forms. When the BSP does get around to updating its forms software will be the key to it. Mr Cagas has developed some easily usable electronic forms based on the BSP forms. I only offer Mr. Cagas’ forms as an example and must stress that I can’t endorse them as official BSP forms unless they are recognized by the BSP. But they clearly show how software will become more important to the pawnshop industry.
Another way in which technology is already changing the nature of the pawnshop business is the proliferation of online pawnshops. As I search the web I see more online pawnshops than ever before. I think this trend will continue if online pawnshops show that they can meet the needs of the customer by giving the them an honest transaction. And software is central to online websites.
Just as technology has changed every other industry it will change the pawnshop industry too. Just give it time. And young entrprenuers like Leslie Cagas will play a large role in that transition.