917Ventures Supports Filipino MSMEs Adopt Digital Processes with MemoApp

Manila, Philippines, 12 February 2024– 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 e-signature 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. 

Gavino added that the convenience of having everything accessible on the website enabled swift communication and significantly accelerated approval processes for the center. The shift to MemoApp eliminated their need for physical document filing; providing easier tracking and ensuring accountability for pending approvals. She also talked about how she appreciates MemoApp's Watcher feature, which allows tracking of document progress, as well as the time-saving basic document templates for invoices, leave forms, memos, and more. 

As businesses continue to evolve, the startup plans to introduce more features and integrations in the near future. This includes bulk document creations, bulk approvals, and full-on document collaborations, to name a few.  It is also preparing a self-service feature to enable new users and team members to onboard themselves and create their form templates. 

MemoApp also plans to introduce Application Programming Interfaces (APIs) to allow businesses to connect MemoApp to their existing workflow and process software.

Businesses who want to experience a smoother, more organized, and paperless process can register for a Basic Subscription Plan to explore the features of MemoApp. Learn more by visiting memoapp.ph.

917Ventures Creates MSME Ecosystem to Address Digitalization Woes

MANILA, PHILIPPINES, 25 October 2023– The Philippine government has made the digitalization of micro, small, and medium enterprises (MSMEs) a top priority to spur the growth of the Philippine economy. In the 2023-2028 Philippine Development Growth Plan, the National Economic Development Authority (NEDA) highlighted the need to provide targeted support to MSMEs in fast-tracking technology adoption, digitalization, and automation, to lead to higher productivity and greater innovation.

“One of the most important things we learned in the past few years–and especially for MSMEs– is the importance of digitalization. It not only helps businesses keep up with the times but also ensures that they’re growing at pace with the digital economy,” said Natasha Bautista, 917Ventures’ Head of Growth and Programs. “There is still a lot of room for growth when it comes to increasing digitalization in the Philippines. In contrast to countries in the region, the Philippines' digital economy currently accounts for just 9.4% of our gross domestic product, whereas Vietnam stands at 14.26%, and Malaysia at 14%.”

917Ventures, the largest venture builder in the Philippines, supports MSMEs by providing them with the tools they need at every stage of their journey so they can become digital-first businesses and ensure that they achieve long-term success and sustainability.

“Whether it's providing them with initial capital, helping them get started online, or guiding their expansion to reach a wider audience, our comprehensive suite of solutions provides them with end-to-end support to take them where they want to go,” she added. “We have, to date, been able to support more than 10,000 MSMEs across our ventures and portfolio companies and we hope to expand our solutions to the 1 million MSMEs in the Philippines and help them with digitally transforming their businesses.”

Unlocking capital with FundSpace

For entrepreneurs who want to get started or level up but don’t have the funds to do so, there is FundSpace, a loan platform that offers a suite of financing options that cater to every business's needs. On FundSpace, businesses of all sizes can take a loan for amounts as little as  Php 50,000 to Php 100 million–one of the largest loan amounts available for local MSMEs.

“Securing capital is often one of the biggest hurdles to starting a business, which is why we created FundSpace–an easy and convenient platform where businesses can get the funds they need at low and flexible interest rates. Through FundSpace, they get cash quickly with its processing time that’s 12 times faster and disbursement that is eight times quicker than usual methods,” Bautista explained.

Upskilling to streamline operations with KodeGo and MemoApp

As businesses expand, the imperative to enhance skills and streamline operations becomes more evident than ever. Enter KodeGo, more than just a coding boot camp, it equips businesses with the knowledge and skills needed to thrive in a digital world. Beyond traditional coding, KodeGo offers a wide array of digital courses that are indispensable for businesses looking to scale and optimize their processes. These courses cover a spectrum of essential skills, including full-stack web development, virtual assistance, bookkeeping, and artificial intelligence.

When it comes to streamlining processes, MemoApp takes the lead as it digitizes previously manual and paper-based processes to make them more intuitive, accessible, and efficient. With its swift workflow approval system, integrated e-signature feature, and easy access to fundamental document templates, MemoApp simplifies how businesses manage their operations.

Getting started online through RUSH

For businesses that want to embrace digitalization, the first step is to get your business online. RUSH is an all-in-one eCommerce platform that takes care of the entire purchase process – from discovery to delivery – empowering merchants to easily launch, manage, and scale their online stores.

RUSH enables merchants to create their e-commerce platform, their mobile app, and access to the GCash GLife Marketplace. It also offers an end-to-end loyalty management platform so businesses can continue to delight their customers by creating relevant and rewarding experiences.

Accessing a wider audience through m360 and Inquiro

Once businesses have successfully established their online presence, the next step is to strategically connect with their target audience and guide them toward the point of purchase. To accomplish this, companies can harness the power of m360's innovative multi-platform messaging solutions. These comprehensive tools empower businesses to effectively inform and engage their customers through a seamless blend of SMS and social media channels.

m360's multi-platform messaging solutions are key to delivering vital information, timely updates, and enticing promotions to customers. With the ability to reach customers where they are most active, businesses can foster stronger connections and drive higher conversion rates.

Furthermore, understanding customer behavior and preferences is paramount for the success of any marketing campaign. Inquiro’s data-driven solutions offer a suite of services designed to provide deep insights into the current customer base and the target audience. More than just analytics, Inquiro's solutions empower businesses to not only comprehend their existing customer demographics but also unearth untapped opportunities by identifying potential audiences beyond their current reach. Inquiro also offers Credibility Scoring that helps businesses assess the risk profile of customers by automating credit-related decision-making.

“Digitalization is not a destination; it's a journey. It's not just about going online; it's about embracing processes that enable businesses to not only exist in the digital realm but thrive, compete, and innovate within it. That’s what we provide with 917Ventures–an MSME ecosystem that will handhold you through every step of every business’ digital journey,” Bautista added.