Finata SaaS Platform Helps SMEs Fix Financial Reports

Based on BPS data, there are about 62 million SMEs in Indonesia with a growth rate of around 100 thousand businesses per year. Meanwhile, data from the Directorate General of Taxes shows that there are only less than 1 million businesses that have fulfilled their tax obligations.

The problem is that most SMEs do not understand how to make books of account or do not understand the benefits of neat financial reports, even how to read standardized financial reports.

Seeing this problem, Yudi Sudarmadi as Founder & CEO of Finata then made a solution in the form of financial software SaaS based which can produce financial reports according to accounting standards. Also includes tax management features and tools for diagnosing business health. Assisted by Tantan Hilyatana who is experienced in digital product development, PT Reksa Finansial Tertata (Finata) was established.

"Software Finata SME finance is a web-based cloud computing which can be accessed by users anytime anywhere. So that users do not need to mess around with the installation process and storage of company data. With the SaaS business model freemium, every SME can choose and pay for features as needed."

Since its launch, Finata currently has 280 users. Based on feedback and response, Finata strives to make system improvements so that it can be useful for users. By having the right capabilities and tools in financial records, SME players can comprehensively scale up their business while knowing how to properly bring in the best source of capital for their business.

"This includes being visited by tax officials. Because they don't understand finances, let alone taxation, they end up immediately suffering from financial difficulties, suddenly going bankrupt, or being subject to tax penalties," said Yudi,

As a form of support for business owners, Finata can be accessed for free through situs which is currently still a version beta. Have no plans to launch the app yet, Finata claims to be the only one accounting that can calculate tax deposits and is equipped with a business health diagnosis.

2019 goals

With a target of 200 thousand registered users and 2000 daily active users in 2019, Finata hopes to be a part of increasing the quantity and quality of entrepreneurship in society to realize a more independent Indonesia. Specifically targeting SMEs who sell online as a early adopting, by using Finata, it is hoped that they can detect the health of their business so that they are able to carry out business development.

Finata also has plans to raise funds, which can later be used for marketing activities. Plan fundraising will be done once Finata has the targeted number of users. Currently, Finata is also exploring a special IPO program for startups in the acceleration board category.

"We will continue to collaborate with the SME community and make the government a partner to expand education on SME financial management at this time," concluded Yudi.