FINANCIO FROM ABSS |NEW ACCOUNTING AUTOMATION SOFTWARE MAKING MICRO, SME OR STARTUPS A LOT EASIER!
One of the hurdles to success for entrepreneurs, regardless
of how viable their business may be, is being able to properly manage the financial
side of the business. With the arrival of a new accounting automation software
called Financio, things are now a
lot easier.
Developed by Asian
Business Software Solutions Sdn Bhd (ABSS) – a subsidiary of Censof Holdings Bhd that was acquired in
2015 – with startups, micro and small businesses in mind, Financio is for users
with little or no accounting knowledge, to manage their accounts with little or
no outside help.
“Many startups and
small businesses cannot afford or see the need for an accountant in the early
stages. This is a risk as they can lose track of their financials and
performance because they are flying blind and cannot be in control of a
business if they don’t know what is going on,” said ABSS Chief Executive
Officer Paul Conway at the launch of Financio in Kuala Lumpur.
Financio is
designed to be used by non-accountants, it is user friendly and does not
require any accounting knowledge to operate. It also allows the sender and
recipient of the transaction to communicate and share documents on the same
platform.
“And because micro and
small businesses are crucial to local economies by generating income for
families while creating job, products and services ABSS is also offering the
basic version of Financio for free, for life, as our contribution to society,”
he added.
It basically takes away most of the bookkeeping process from
the business, and all users need to do is put in the sales and purchase
figures. The system will do the rest such as double entries, generate reports
and tax records.
Users can track sales and purchases and miscellaneous
transactions, automatically generate financial reports and tax records, also
automatically forward transactions to recipients via email and inventory
tracking.
Financio also offers multi-currency support, real time
backup, Malaysian GST support, file
storage for attachments to transactions and, because it is Cloud based, be
accessed from anywhere.
“There’s even a
feature called ‘Financio Connect’ that allows businesses to connect with one
another, just like adding a friend on social media, and once a connection
between two businesses has been established, it works seamlessly by allowing
transactions to be sent across to each other as well as communicate on a single
platform,” said ABSS Chief Technology Officer (Cloud) Jye Eng.
“We realized that the
younger generation is becoming the main driver of the country’s economy, they
tend to be more IT savvy, willing to try new things, and want to have a clearer
picture of their business’ finance and access their data anywhere they go,”
added Eng.
Users can try Financio for free and use the full
function-rich premium version with a low entry cost of MYR 32.95 a month or MYR
329.50 a year.
The launch version is in English, with the Bahasa Malaysia
and Chinese versions to be launched by the 2nd quarter of 2017.
Refreshements to keep the guests accompanied whiole mingling and networking with each other
“Micro and Small
businesses make up 97% of the SMEs in Malaysia. We target to get 20 per cent of
them or about 125,000 users by March 2018, and in 2017 we will be introducing
Financio into Singapore by June and into Hong Kong, Philippines and Indonesia
by September” said Conway.
For further inquiries, please contact David Ong-Yeoh at
03-7954 4505
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