ABSS eyes 45,000 to 70,000 SMEs to use cloud accounting app by March 2018

KUALA LUMPUR: Asian Business Software Solutions Sdn Bhd ( ABSS) is targeting between 45,000 and 70,000 small and medium enterprises (SMEs) in Malaysia to adopt its cloud accounting application, Financio, by March 2018.

Chief executive officer Paul Conway said currently, 4,500 Malaysian SMEs used the application which saved over 384,00 man-hours.

“We aim to increase the number to 125,000 SMEs by March 2018 across South-East Asia and the partnership with Microsoft will play a crucial role in achieving this target,” he told reporters after signing a strategic agreement with Microsoft Malaysia yesterday.

He said the agreement aimed to empower micro SMEs in Malaysia and accelerate their transformation journey.

“This platform, designed for start-ups, small business owners and non-accountants, will adopt Microsoft cloud services to provide end-to-end and scalable solutions for micro SMEs in the digital economy.

“Financio gives companies access to a secured solution that tracks business finances effortlessly by leveraging on Microsoft’s cloud solutions,” he said, adding that the next market to expand the product would be Singapore.

He said start-ups and micro SMEs could expect to save at least 100 man-hours and RM2,000 a year by moving from spreadsheets to accounting automation. — Bernama