Lababook Application Makes It Easy for SMEs to Have Standardized Reports

In the last two years, the financial recording platform for SMEs seems to be getting quite good enthusiasm from the market. Among the many players who have released their services, one of them is Lababook.

To DailySocial, Lababook Co-Founder & CEO Sasha Arben said the startup was established as a response to the problems faced by SME owners in Indonesia, namely manual records that were not regularly recorded and limited access to productive loans.

"Lababook is a daily transaction recording application for SMEs in Indonesia. This company was founded in 2020 by me and Ariel Christiansen (CFO). Its mission is to assist business owners in Indonesia, by providing a free and simple transaction recording application that still adheres to the Standards Financial Accounting (SAK)."

To access the services offered, users can directly download the application Labbook on the Google Play Store and Apple Store. In addition to the recording feature, educational content is also provided that is useful in developing their business. Currently they have collaborated with several platforms such as services fintech, distributors, and beg to create an ecosystem that supports the needs of SMEs.

"For now, Lababook's monetization is carried out by establishing B2B cooperation; suppliers and distributors. We are also targeting cooperation with services fintech for distribution productive loans 20% as determined by OJK. The subscription method itself is currently still in the stage research, market testing, and features," said Sasha.

In Indonesia itself, there are already some similar apps. From the results of our research, here are the statistics for each application until the end of 2020:

Financial Accounting Standards

Mentioned what is the difference with other similar platforms, it is stated that Lababook is claimed to be the only application for recording financial transactions that follows the Indonesian Financial Accounting Standards but still has the following: interface which is easy and simple.

With features such as Balance Sheet, Financial Report, and Invoice, the application prioritizes data accuracy that can be used by business owners to access financial products.

The pandemic that has disrupted most businesses, of course, directly affects the businesses of small business owners who bear the most losses. At the beginning of the pandemic, there had been a significant change in the number of registered transactions, due to the decline in the buying and selling process in several business sectors.

"However, Lababook prioritizes efficiency and flexibility in executing the vision and mission that has been set. Facing these problems, Lababook internally changes several methods of strategy, marketing, acquisitions, and educating business actors to be able to survive in the midst of a pandemic," said Sasha.

In just 2 months after launching the application, Lababook claims that their application has been downloaded by more than 15 thousand business owners throughout Indonesia. With more than 50 types of businesses ranging from grocery shop owners, electronic pulses, distribution of goods, and side workers. In particular, Lababook currently has a user base throughout Indonesia.

"This year Lababook will focus on collaborating with other financial platforms, developing more features , and also fundraising," said Sasha.