Bubble Group Case Studies Transforming Accounting Services with IoT: A Case Study on Centrio HQ

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	Transforming Accounting Services with IoT: A Case Study on Centrio HQ Bubble Group

Transforming Accounting Services with IoT: A Case Study on Centrio HQ

Bubble Group

Technology Category	Networks & Connectivity - Gateways Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Cement Finance & Insurance
Use Cases	Building Automation & Control Time Sensitive Networking
Services	Cloud Planning, Design & Implementation Services System Integration
Challenge	Centrio HQ, a Malaysian app, was founded to address the challenges faced by Small and Medium Enterprises (SMEs) in managing their accounting processes. The traditional accounting process was often filled with tedious and unorganized paperwork, making it difficult for businesses to keep track of their transactions, taxation, and audits. The process was also time-consuming, with businesses having to mail paper documents back and forth and communicate across various platforms such as SMS, WhatsApp, and emails. The founders of Centrio HQ, YL Chow and his partner, realized the need for a digital solution that could streamline these processes and make accounting services more efficient and affordable for SMEs. Read More
About Customer	Centrio HQ primarily serves Small and Medium Enterprises (SMEs) in Malaysia. These businesses often struggle with traditional accounting processes, which involve tedious and unorganized paperwork. They also face challenges in managing their business transactions, taxation, and audits due to scattered communications across various platforms. Centrio HQ's digital accounting services provide these businesses with a seamless and efficient solution, enabling them to focus on running their businesses instead of worrying about accounting. The platform's simple and transparent pricing also makes it an affordable option for SMEs. Read More
Solution	Centrio HQ is a virtual accountant app that provides seamless accounting services entirely on the cloud. The platform allows users to engage and experience accounting services in a fuss-free manner. Users can sign up for a plan on the platform, access their dedicated CentrioHQ dashboard, and start uploading documents such as bills, receipts, and bank statements for processing. The information on each document is then extracted via AI-driven OCR technology for speed and accuracy. The platform also provides a live chat feature for clients to communicate with their account manager and a dedicated query dashboard for requesting additional documents or clarifications. Every month or quarter, clients receive financial statements and reports informing them of their business' financial position. The dashboard also provides crucial financial information such as revenue, operating costs, accounts receivables/payables, etc. Read More Log in to view content
Contents

Technology Category

Networks & Connectivity - Gateways

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Cement

Finance & Insurance

Use Cases

Building Automation & Control

Time Sensitive Networking

Services

Cloud Planning, Design & Implementation Services

System Integration

Challenge

Centrio HQ, a Malaysian app, was founded to address the challenges faced by Small and Medium Enterprises (SMEs) in managing their accounting processes. The traditional accounting process was often filled with tedious and unorganized paperwork, making it difficult for businesses to keep track of their transactions, taxation, and audits. The process was also time-consuming, with businesses having to mail paper documents back and forth and communicate across various platforms such as SMS, WhatsApp, and emails. The founders of Centrio HQ, YL Chow and his partner, realized the need for a digital solution that could streamline these processes and make accounting services more efficient and affordable for SMEs.

About Customer

Centrio HQ primarily serves Small and Medium Enterprises (SMEs) in Malaysia. These businesses often struggle with traditional accounting processes, which involve tedious and unorganized paperwork. They also face challenges in managing their business transactions, taxation, and audits due to scattered communications across various platforms. Centrio HQ's digital accounting services provide these businesses with a seamless and efficient solution, enabling them to focus on running their businesses instead of worrying about accounting. The platform's simple and transparent pricing also makes it an affordable option for SMEs.

Solution

Centrio HQ is a virtual accountant app that provides seamless accounting services entirely on the cloud. The platform allows users to engage and experience accounting services in a fuss-free manner. Users can sign up for a plan on the platform, access their dedicated CentrioHQ dashboard, and start uploading documents such as bills, receipts, and bank statements for processing. The information on each document is then extracted via AI-driven OCR technology for speed and accuracy. The platform also provides a live chat feature for clients to communicate with their account manager and a dedicated query dashboard for requesting additional documents or clarifications. Every month or quarter, clients receive financial statements and reports informing them of their business' financial position. The dashboard also provides crucial financial information such as revenue, operating costs, accounts receivables/payables, etc.

Impact #1	The implementation of Centrio HQ has resulted in a significant transformation in the way SMEs manage their accounting processes. The platform's seamless and fuss-free services have eliminated the need for traditional methods of engagement, such as mailing paper documents back and forth and scattered communications across various platforms. This has allowed businesses to focus more on their operations instead of worrying about accounting. The platform's AI-driven OCR technology has also improved the speed and accuracy of processing documents. Furthermore, the live chat feature and dedicated query dashboard have enhanced communication between clients and their account managers, making it easier to request additional documents or clarifications. The regular financial statements and reports provided by the platform have also helped businesses stay informed about their financial position.

Impact #1

The implementation of Centrio HQ has resulted in a significant transformation in the way SMEs manage their accounting processes. The platform's seamless and fuss-free services have eliminated the need for traditional methods of engagement, such as mailing paper documents back and forth and scattered communications across various platforms. This has allowed businesses to focus more on their operations instead of worrying about accounting. The platform's AI-driven OCR technology has also improved the speed and accuracy of processing documents. Furthermore, the live chat feature and dedicated query dashboard have enhanced communication between clients and their account managers, making it easier to request additional documents or clarifications. The regular financial statements and reports provided by the platform have also helped businesses stay informed about their financial position.

Benefit #1	Built a fully functional MVP in less than 3 months
Benefit #2	Acquired first few clients almost immediately after launching the MVP
Benefit #3	Real-time savings from onboarding to delivering reports to clients

Benefit #1

Built a fully functional MVP in less than 3 months

Benefit #2

Acquired first few clients almost immediately after launching the MVP

Benefit #3

Real-time savings from onboarding to delivering reports to clients

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Overview

Transforming Accounting Services with IoT: A Case Study on Centrio HQ

Operational Impact

Quantitative Benefit