BukuKas Offers Digital Platform for SME Financial Recording

In the last two years, there has been a significant trend in the Indonesian startup industry. It is a service trend that moves at the grassroots of SMEs. The goal is not only to transform, but also to build a capable ecosystem to jointly increase the level of SMEs themselves. One of them is Cashbook. This startup created by Krishnan Menon offers services that are ready to help SMEs to be more empowered through neat financial records.

Having returned to India to accompany his ailing father, Krishnan finally decided to restart his adventure in the Indonesian startup industry by starting Cash book in August 2019.

His travels in cities such as Tuban, Cirebon, Jepara, and others gave him the understanding that current technology has not yet reached the SME level. For that he started designing BukuKas to try to digitize SMEs through financial records.

In addition to paperwork and untidy records, most SMEs also lose track of where their profits and money are going. From there, an idea came up to develop an application that could record their business cash flow, which was simple and easy to use.

"I feel the SME segment can benefit a lot if we can help them with simple technology solutions and take them step-by-step into the digital and financial ecosystem. Our mission is to help millions of SMEs and through it bring a huge positive impact to them, the country and the world." ecosystem," explained Krishnan.

Krishnan is quite confident in what he and the team are doing. According to him, after successfully digitizing SMEs, they can gradually bring SMEs into the formal banking sector through partnerships and so on.

Multi-party support

Although it has not even been a year of operation, BukuKas has received a lot of support from investors. From Krishnan's statement, currently they are supported by Sequoia Capital (Surge), Credit Saison, 500 Startups, and several other investors. BukuKas is also supported by more than 20 investor angle, among them are Christian Sutardi, Filippo Lombardi, Edward Tirtanata, James Pranoto, and Guillem Segarra.

"The fact that such good investors and so many business leaders trust us is humbling experience for us. It also makes us work 10 times harder to repay their faith in our mission," Krishnan continued.

For now, BukuKas provides its services for free. The presence of BukuKas in Indonesia provides additional options for SMEs to manage their business digitally. Besides BukuKas, there is also a BukuWarung with similar services. Let's slide together in 2019 BookStore backed by East Ventures, AC Ventures, Golden Gate Ventures, and others.

Facing the Covid-19 pandemic

The COVID-19 pandemic has affected many things. Includes Cashbook and merchant they. Krishnan tells, they are trying to help as much as possible merchant them by promoting their affected businesses through BukuKas social media. It also organizes free English classes to improve skills, including actively discussing with merchant which exists.

"Merchant The number of users using our platform has increased by 50% since the start of Covid-19 four weeks ago. We believe this is because BukuKas helps traders manage their money better during these difficult times," said Krishnan.

Now navigating 2020 BukuKas has set their three main focus on improving the experience merchant in using their platform, added some useful key features, and helped merchant to deal with this pandemic.