RHB Partners Financio to Launch Office Automation For SME and Startup Companies

RHB launched the RHB Reflex business solution for SME companies on 23-May-2019, it is an integrated system consisting of the accounting, banking, HR and point-of-sales modules.

Connected and integrated

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To sign up is simple, business owners just have to apply for a RHB Business current account to gain access to the following integrated software modules:
  • Cloud-based accounting software - provided by Financio
  • HR Management System - provided by Kakitangan
  • Merchant terminal - provided by RHB
  • Business credit card - provided by RHB
  • Cloud-based EPos system - provided by StoreHub
  • Customized business insurance - provided by RHB

The vision of this software platform coined as the Malaysia's first connected banking@SME e-solution is to help SME companies to grow and to empower them with the tools to simplify cash flow and financial management over a connected banking ecosystem.

For example, one of the core features of the platform is that banking transactions are reconciled into the accounting software's database on daily basis automatically.

This offering is good for SME and startup companies to operate their businesses at optimum level and low cost because otherwise, the business owners often have to do everything from R & D, operations, sales & marketing, administration, business development, accounting and banking, housekeeping, IT strategy and planning etc.

Without an integrated system, business operators are forced to manage 4 different siloed systems manually and independently, and that results in duplicated processes.

With an integrated system, a single transaction will be automatically synchronized to respective peer processes, and this gives rise to saving in terms of time, energy and money.

For analogy, imagine the brain has to tell the two hands and legs to position independently compared to the natural synchronization of the hands and legs when a person moves.

RHB Banking Group expects at least 10,000 SME companies will be using its SME e-Solutions platform by 2020.