AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Set a baseline before you join, then track five numbers each month: Spaces sales as a share of total sales, new customers who pay with Spaces, average basket for Spaces and non-Spaces sales, how often Spaces customers return, and margin after any merchant costs. Compare like-for-like periods so seasonal swings do not mislead you.
Start with a baseline
You cannot tell whether Spaces is working unless you know what the business looked like before. In the month before you go live, write down:
- Total sales and number of sales for the month
- Average basket (total sales divided by number of sales)
- A rough count of new versus returning customers, even if it is only a tally at the till
- Your gross margin on your main product lines
If your business is seasonal, also note the same month last year. A school's January or a hotel's December will look very different from the rest of the year whatever you do.
The five numbers to track
| Number | How to work it out | What it tells you |
|---|---|---|
| Spaces share of sales | Spaces sales ÷ total sales | How much of your trade now comes through the network |
| New customers via Spaces | Count first-time customers who pay with Spaces | Whether Spaces is bringing people who would not have come |
| Average basket, Spaces vs other | Spaces sales ÷ Spaces transactions, compared with the same for other payments | Whether credit customers buy more per visit |
| Return rate | Spaces customers who come back within 30 or 60 days ÷ all Spaces customers | Whether first visits are turning into habits |
| Margin after costs | Gross profit on Spaces sales minus any merchant costs | Whether the extra sales are profitable |
The second number matters most. A Spaces sale from a regular who would have paid cash anyway shifts how you are paid but does not grow the business. A Spaces sale from a new customer does.
Where the data comes from
Payments into your Pryme Business Account are recorded, so your account history is the starting point. Ask Pryme through the contact page how Spaces payments are labelled and what records you can export, so you can separate them from other income.
For counting new versus returning customers, simple methods work:
- Ask at the till: 'Is this your first time with us?' and tick a sheet.
- Keep a customer list for regulars, with their consent, and mark visits.
- For bookings-based businesses such as salons, hotels and schools, your booking or enrolment records already show this.
The Federal Competition and Consumer Protection Act, as summarised by the FCCPC, gives customers the right to an itemised record of a transaction on request (section 118). Keeping itemised records for customers also gives you the data to measure basket size properly.
Using the Finance agent
A Pryme Business Account comes with a Finance agent and a Chief of Staff that prepare work. You can ask for a monthly summary of sales by payment type and a comparison with the previous month. They prepare; a person approves above a set ceiling, and actions are recorded. Check the figures against your own records the first few times until you trust the method.
A worked example
Example only. A pharmacy compares its month before joining Spaces with its third month in the network.
| Measure | Month before | Third month |
|---|---|---|
| Total sales | ₦4,200,000 | ₦4,900,000 |
| Number of sales | 1,400 | 1,520 |
| Average basket | ₦3,000 | ₦3,224 |
| Spaces share of sales | 0% | 18% (₦882,000) |
| New customers paying with Spaces | n/a | 64 |
| Spaces customers returning within 30 days | n/a | 38 of 95 (40%) |
The owner sees that total sales rose by ₦700,000, that 64 of the 95 Spaces customers were new to the pharmacy, and that 40% came back within a month. She then subtracts any merchant costs Pryme has set out for her and checks the margin on the extra sales. If it holds, Spaces is growing the business. If the extra sales are mostly low-margin lines, she adjusts what she promotes.
Reading the results
- High Spaces share, few new customers: regulars are switching payment method. Market to people who do not know you yet.
- Many new customers, low return rate: first visits are not becoming habits. Look at stock, service and follow-up.
- Higher average basket for Spaces sales: customers are using credit to do one bigger shop. Make sure the stock is there for it.
- Sales up, margin flat: check which lines are selling and whether your costs per sale have changed.
How often to review
Monthly is enough for most businesses. Look at the trend over three to six months rather than reacting to a single week. Write down what you changed each month, such as a new notice at the door, a WhatsApp message to opt-in customers or a new bundle, so you can connect cause and effect. Planning matters: the NBS and SMEDAN national MSME survey found about 70% of micro enterprises had no business plan. A short monthly review is a simple plan in practice. For what to change when the numbers disappoint, see Marketing your business to Spaces customers and How to get repeat customers. For wider context on pay-later and basket size, see Pay-later and average order value.
Questions people ask
How do I know if Spaces is bringing new customers?
Count first-time customers who pay with Spaces each month. Regulars switching payment method do not grow the business; new customers do.
What should I measure after joining a pay-later network?
Share of sales, new customers, average basket, return rate and margin after costs. Compare with a baseline taken before you joined.
Can I see Spaces payments separately in my account?
Payments are recorded in your Pryme Business Account. Ask Pryme how Spaces payments are labelled and what you can export.
How long before I can judge results?
Give it three months at least, and compare like-for-like periods so holidays and seasons do not distort the picture.
Sources
- FCCPC: Consumer rights and responsibilities · accessed Oct 2026
- NBS and SMEDAN: MSME National Survey presentation · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.