Nayela Deeba | Sept. 21, 2017

Small and medium-sized enterprises (SMEs) in Singapore are now able to better manage their corporate account finances with Financio, a cloud-based accounting solution.

Launched by business solutions provider Asian Business Software Solutions (ABSS), the solution allows owners of boutique businesses to keep track of inventories, automatically generate financial reports, and forward transactions records to recipients via email.

Business owners can also collaborate and share documents with other users through Financio Connect, a feature which is part of the solution.

According to ABSS, business owners do not require prior accounting knowledge to use this solution.

The solution is also equipped with a backup feature, which keeps multiple copies of important file attachments. Business owners in Singapore can hence tap on this feature to store important files such as GST records.

Fiona Liu, sales director at Clove Bridal Studio, a professional photography agency in Singapore, projects that her company will save S$1,000 and 100 man hours a year thanks to Financio. This is because the solution helped “to get rid of traditional time-consuming bookkeeping methods”, which enabled her employees to better focus on delivering more value to customers and growing the business.

To help SMEs in the region better manage their finances too, ABSS plans to make Financio available to the Philippines, Hong Kong and Indonesia in future.