HelloSME’s mission is to help SMEs Go Digital, Go Regional by aggregating their digital needs. We aim to deliver Fast Trade and Procurement (FTP) Eco-system built on Blockchain technology in order to enhance procurement efficiency, scalability, security and trackability for businesses. Through the members-only platform, our strategic partners and customers can perform in-country and cross-border transactions with ease and confidence.
FTP is SaaS (Software-as-a-Service) on Blockchain built to enhance closed-loop procurement transactions between buyers and sellers in a seamless way, providing the benefits of RDS contract, payment gateway, end-to-end digital integration and KYC to all aspects of businesses.
RDS is a Real Digital Smart Contract which has sophisticated algorithms to track any changes and/or modifying of the contract. Storing any transactional changes on Blockchain makes it secure, reliable and trackable than conventional contracts.
FTP Payment Gateway aims to connect to all payment gateways by offering choices to our buyer/seller in settling payment through PayPal, Stripe, bank transfer. An added feature is digital Escrow that is robust enough to scale from 1,000 to 2M transactions a day.
FTP Eco-system’s vision is to provide connectivity of the different buyer/seller ERP systems to ensure seamless transactional flow to cut down manual inputs and paper-based transactions. For those SMEs that do not have ERP, a basic, stripped down ERP is embedded in the FTP application.
From PR -> RFQ -> PO -> SO -> DO -> Invoice -> Payment, FTP automates and captures the entire process in its entirety. Once payment is acknowledged, the RDS contract between the buyer and seller is then considered closed giving a 360-degree view of the entire transactional flow.
Based on Hyperledger Fabric Technology that supports permissioned blockchain network, smart contract, data privacy and unique transactional model.
FTP provides basic KYC with KYC partners and 2-factor authentication to verify members’ identity to ensure transactions are legit and above board especially cross-border transactions – one of the key ask of SMEs.
Based on Semicon industry insights, time spent by buyers/sellers on PR > RFQ > PO > DO > Invoice > Payment and other processes such as misplacement of documents is significant. The potential savings (processing time) of FTP per year is estimated at about US$500M which can significantly help the Semicon industry which has razor thin margins.
The industry is very paper-intensive, especially for SMEs which either lack an ERP system or IT skills to integrate their systems thereby relying largely on paper documents. Finding lost documents like delivery notes with numerous partial deliveries impacts productivity and cash flow management.
The Semiconductor Industry forms a sizable bulk of worldwide B2B sales in excess of US$665 billion. In ASEAN alone, this industry is roughly US$167 billion with Singapore being the trade hub of action worth US$ 71 billion - the regional headquarters for major semiconductor entities and distributors.
FTP integrates with multiple Service Providers which enhances end-to-end transactions. Service Providers include Insurance, Logistics, Legal, Financing, Accounting.
GOGOVAN is your solution to real-time logistics needs. GOGOVAN’s on-demand, same-day logistics platform connects businesses with over 20,000 registered driver partners: motorbikes, sedan, vans, and 10ft– 24ft trucks. GOGOVAN is present in over 300 cities in China, Hong Kong, India, Singapore, South Korea, Taiwan, and Vietnam.
Berkley Insurance Asia is an operating unit of the W. R. Berkley Corporation. As a group, we have been serving customers in Asia for over a decade and as part of our commitment to the region, our operations now include Berkley Insurance Asia with offices in Singapore and Hong Kong. Both these operations offer insurance and facultative reinsurance across the Asia region.
Develop, grow, sustain and strengthen your business cashflow minimizing challenges of acquiring loans from banks. HelloSME and Funding Societies bring next generation SME financing to small and medium-sized businesses in Singapore, which has never been made so easy and fast.
FTP Discounting is a digital trade service powered by JED connecting Buyers, Sellers and Lenders, making trade and working capital flow more efficiently for businesses. This service creates an inclusive trade and finance eco-system that benefits ALL SMEs – big and small.