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More Digital Solutions Launched to Benefit Philippine MSMEs

Micro, small, and medium-sized businesses (MSMEs) will benefit from a unique dashboard being developed by a local bank mobile app, which will allow business owners to track sales and cashflows. The local bank’s vice president confirmed in a virtual briefing that they are very keen on data management to enable MSMEs to monitor their sales and cash inflows, among other things, without having to buy pricey software designed for these activities.

These activities can be easily completed using software supplied by multinational database management organisations. “That is already something we are working on. We are creating a special dashboard for our merchants, which will combine the sales, the collections, (and) the projected sales. If the merchant is creating payment links, which will be used in the future, it will be there,” he said. “But from the mobile app perspective, you can see if there are going to be gaps in funding if there are any surpluses, and you act immediately. If there may be gaps, you might need to borrow money for a special payment you need to do.”

The bank has announced the launch of its system for MSMEs, an inward payment platform integrated into the bank’s MSME banking app. MSMEs utilising such banking applications, according to the vice president, do not need to check all their other mobile apps to see if their consumers utilised one of these to pay for a product or service as this can be observed through the MSME mobile app.

During the same conference, the local bank’s Merchant Acquiring, and Payment Gateway head stated that the bank has implemented many layers of data protection for both merchants and buyers who use their mobile app. One of these safeguards is a security message that asks users if the information they filled in for a particular transaction is correct.

In addition, the private sector wants to see more micro, small, and medium-sized businesses (MSMEs) embrace digital technologies to help them run their businesses throughout the pandemic. The Philippine Disaster Resilience Foundation (PDRF) and a Cebu-based non-governmental organisation (NGO) announced the launch of new projects to aid MSMEs in their digital transformation.

The SIKAP project, which stands for Synergising Recovery Initiatives, Knowledge and Adaptation Practises for MSMEs, is a digital portal that informs local MSMEs about the newest loans, programmes, and online events.

OpenGov Asia reported that a local firm is launching its mobile platform which can be downloaded for free via the mobile app store to empower small businesses, freelancers, and people with digital tools to assist them to manage their businesses.

The mobile app has four core functions at launch: real-time recording of sales and expenses with automated total profit calculation accounts payable transaction documentation with regular billing reminders and due dates sent to both customers and suppliers via messaging apps, separate bookkeeping for multiple businesses or branches, and enterprise-grade security for users’ business financial data.

“Helping Philippine MSMEs was advocacy close to my heart. Growing up, I saw the challenges my family endured in running a sari-sari store. I spent almost a year just talking to various MSMEs in the province and trying different ideas to help them grow. And that’s when I realised that the first thing to do to help them grow is through digitisation and replacing pen and paper with easy-to-use tech,” shared co-founder of the local start-up.

Since its September launch, an average of P3,800 has been paid per user. The platform is funded by several investors that acknowledge that financial literacy and inclusion remain a major issue in the Philippines, with the main causes being a lack of appropriate tools and insufficient tracking.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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