SMEs that digitalised will take their business to the next level. If you are currently struggling with spreadsheets and rigid systems of managing data, then there are easier solutions that will save you time, money and stress when you decide to take your SME digital. In Singapore, IMDA’s Start Digital Pack can help you decide how to go digital. Your new digital SME journey will include your accounting, so why not try Financio out for free. Here is a successful case of one Singapore SME that has grown its business with Financio through the Go Digital programme.
As an immigration and business consultancy company, Cayman Management Consultants provides its clients with citizenship and residency matters across the world. Cayman Management Consultants was using a formula to keep its overhead costs low while managing its financial data; relying on Microsoft Excel, and a simple accounting subscription service. This worked well, but it didn’t allow the company to move to the next level. The existing processes could not be scaled to facilitate growth plans.
SMEs grow digitally
To grow the business, the company had to open regional offices to be closer to its clients. So it was necessary to revise financial administration processes to be aligned with expansion plans.
The Start Digital Pack, an initiative of the SMEs Go Digital programme, facilitated this by giving Cayman Management Consultants the confidence to jumpstart its digitalisation journey.
“The Financio module offered in Singtel’s Start Digital pack was able to meet all our needs, and we were keen to jump on board, knowing that the solution is supported by IMDA and Enterprise Singapore, and would be able to digitalise our financial administration matters on a single platform,” says Dainial Lim, Group Director explaining that, “We had heard about the Start Digital pack through the Association of Small and Medium Enterprises (ASME). The opportunity to sign on to the solutions for a free period was especially useful for us. It certainly eased the concerns we had about adopting new software.”
Simple SME digital accounting
Outlining how Cayman went digital Dainial says, “We decided to sign up for Financio, accounting software that was IRAS-compliant, and Adtiq, a marketing advertising platform which allowed us to run our own marketing campaigns. The Singtel representatives reached out to us fairly quickly after our registration to follow up on the software set-up and introduction.” Praising the flexibility of these digital solutions, Dainial continues, “For Adtiq, we started by forming a team from our sales, client services and marketing departments to handle the Adtiq account. They were able to work together to produce material for marketing campaigns. Actually, our team caught on to Adtiq really quickly as it was easy to use. With Financio, we had to work with the team to change some of our internal processes in order to adapt to the software. While the members found the software easy to use, it was necessary to help them refine some of the internal accounting processes in order to make the transition to Financio.”
Financio for SME growth
The Financio and Adtiq solutions have helped Cayman Management Consultants to facilitate expansion to more countries and take their business to the next level. “We have been gaining momentum on our expansion plans since adopting the Start Digital pack in February 2019,” says Dainial adding, “Financio has helped us to streamline human resource processes and enable accessibility for accounting procedures. With the digital solution in place, we can include our offices in Malaysia and Indonesia for reporting and resource management at a management level, and extend this to other countries such as the Philippines where we are developing a presence at the moment.”
Take a look at how Financio can help your SME go digital and take your business to the next level.