917Ventures rolls out app to aid MSMEs digitalization journey

917VENTURES, the innovation arm of Globe Telecom, Inc., has developed a document management system called MemoApp to help small businesses in adopting digital processes.

MemoApp is a platform for creating, approving, signing, and tracking all types of documents, 917Ventures said in an e-mailed statement on Monday.

The app offers template-based memos with an esignature feature for approval workflows of businesses.

“Embracing digital tools should be a strategic imperative for sustaining competitiveness and resilience in today’s dynamic landscape, but we understand that it is not always easy to make the shift,” said Carla Bianca Sy Su, entrepreneur-at-residence at 917Ventures.

“MemoApp was developed with the thought of making transitioning to digital easier,” she added.

The World Economic Forum (WEF) has said that only 25% of micro, small and medium enterprises (MSMEs) worldwide have succeeded in fully embracing and maintaining technological advancements. In contrast, only 6% of Philippine MSMEs utilize digital tools, highlighting a significant technology gap in the country.

MSMEs encounter “intense” short-term business pressures, limited expertise, and resource constraints, which impede their adoption of technology, the WEF said in a July 2023 article.

Digitalization, Ms. Su said, is “a tool that helps us with external-facing efforts, but before we get to that stage, we have to understand that it is a transformative journey that starts from within a company’s people and operations.”

The platform’s features and templates, including invoices, leave forms, and memos, were “set up based on our research and experience on what the most common paper trails were used in business,” according to Ms. Su.

“We found that having these set up within the business allows operations teams to be more agile,” she added.

MemoApp plans to introduce more features and integrations, including bulk document creation, bulk approvals, and full document collaborations. It is also preparing a self-service feature so users can onboard themselves and create their own form templates.

It is looking to expand its reach to over 200 businesses by the end of 2024. —