Financio partners with Microsoft to give SMEs the tools to enable digital transformation. Designed for start-ups, small business owners and non-accountants, this platform will be the first freemium accounting application in Malaysia to adopt Microsoft cloud services to provide end-to-end, scalable solutions for micro SMEs in the digital economy.
Financio, owned by Asian Business Software Solutions Sdn Bhd (ABSS), gives companies access to a secure solution that tracks business finances by leveraging Microsoft’s cloud solutions. Microenterprises will be able to migrate their accounting portfolio to Azure, a secure, stable and agile cloud platform with an uptime of 99.5%. As part of this partnership, Microsoft will offer Office 365 as a complimentary service for Financio’s current customers.
Celebrating the association, Paul Conway, CEO, ABSS said, “Through Financio, businesses are able to leverage accounting technology to boost productivity, drive collaboration and stay on top of their finances. This partnership comes from a shared interest to empower micro SMEs to operate business critical actions anytime, anywhere through a device and realising the benefits of accessing data on the go. Companies that are processing information offline should now be looking to do this online.
“Today, Financio is helping small businesses save over 384,000-man hours a year and powering more than 4500 small businesses across Malaysia. We are aiming to increase this number to 125,000 by March 2018, and our partnership with Microsoft will play a crucial role in achieving this target. We are delighted that our customers will now experience Microsoft’s cloud solutions to accelerate their business growth,” added Conway.
With Financio, users can track sales, purchases and miscellaneous transactions through a simplified dashboard, and automatically generate financial reports and tax records or forward transactions to recipients via email and inventory tracking. Using‘Financio Connect’, businesses can collaborate and share documents on the platform.
Start-ups and micro SMEs can expect to save at least 100-man hours and RM2,000 a year by moving from spreadsheets to accounting automation. Accounting automation takes away most of the bookkeeping process from the business such as double entries, generating reports and GST tax records, allowing business owners and accounting teams to focus on accelerating their business growth.
Financio is free for micro businesses, offering up to 10 invoices monthly, and business owners can upgrade to Financio’s premium features at RM32.95 a month. With Azure, micro SMEs will be able to gain access to trusted Microsoft products that deliver a seamless cloud experience while enjoying the robustness and stability that comes with Financio.
Header pic: (Left) – K Raman, Managing Director, Microsoft Malaysia signing the strategic partnership with (right) Paul Conway, CEO, Asian Business Software Solutions Sdn Bhd (ABSS) witnessed by (centre) Farid Awang, Head of Division, Finance & Account Division, SME Corporation Malaysia in Kuala Lumpur on 17 th Oct, 2017.