917Ventures supports Filipino MSMEs adopt digital processes with MemoApp
WHILE digitalization is valuable for businesses across various scales, it is a critical need for micro, small, and medium enterprises (MSMEs). MSMEs, unlike bigger businesses, are less likely to introduce digital practices despite these tools allowing them to improve operational processes, foster innovation, and ability to rapidly respond to market changes to remain competitive amidst today’s rapidly evolving landscape.
“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.
Even with the persistence of digitalization, the World Economic Forum points out that only 25% of MSMEs globally have managed to truly shift and keep up with technology. Specific to the Philippines, only 6% of MSMEs use digital tools revealing a substantial technology gap in the country.
Sy Su said MSMEs, in particular, grapple with numerous manual and paper-based processes but find it difficult to fully adopt digital tools because of financial constraints or constantly adjusting processes.
MemoApp, a web-based solution, was introduced to the Philippine market in late 2023 as one of the newest startups from 917Ventures. Its goal is to support local Filipino businesses digitize their manual and paper-based processes.
With features such as a swift workflow approval system, an integrated esignature capability, and effortless access to essential document templates, MemoApp stands as a practical tool for businesses seeking to streamline their operations and boost productivity and efficiency all at a fraction of the cost charged by other solutions. The solution is flexible enough to accommodate all types of business administrative needs, whether for filing contracts, routing for approvals, invoicing, and many others.
“When we talk about digitalization, we often see it as 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.” Sy Su added. “Memoapp was created to help businesses of all sizes become more efficient and productive– giving them a tool that allows them to go paperless, route documents faster, and get approvals easily, all in one platform.” CREATING AN AVENUE FOR DIGITAL
TRANSFORMATION
Since its launch, MemoApp has transformed a variety of businesses across different industries including government agencies, education, healthcare, food and beverage, and more. Among businesses that have found success with MemoApp is the Center for Bright Beginnings, an early childhood intervention center in Davao City.
For over two decades, the center grappled with time-consuming and error-prone paper-based processes– a challenge that intensified with the opening of a new campus in Tagum City. Before implementing MemoApp, requests and approvals were frequently handled manually, requiring hard copies of forms and documents. Unfortunately, this manual process often led to misplacement of documents, causing delays and inefficiencies.
“Before, we had to do all our requests and approvals in hard copy. That became an issue as we now have two separate offices. Since we would need the signatures on hard copy before we can do anything, there were instances when the documents didn’t reach the appropriate signatories or they were misplaced. This led to a lot of things taking more time than necessary and a lot of things had to be put on hold,” said Mandy Gavino, Chief Financial Officer, Center for Bright Beginnings.