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6BIZ NEXUS

To build a wholistic technology-enabled business ecosystem.

COMPANY DETAILS

SUMMARY

6Biz group of companies is founded by non-IT professionals who believe that technology should benefit everyone. With the use of "state of the art" technologies, 6Biz aims to develop a suite of business solutions and ecosystem that empowers and connects stakeholders from various domains.

 

PROBLEM

Survey shows that accounting practitioners spend 30% of their time on routine and administrative tasks

Top 3 challenges:

  1. Follow-up with clients to collect documentation and information
  2. Managing cash flow due to late payment from clients.
  3. Unable to monitor staff performance

 

SOLUTION

Online smart office (Powered by Artificial Intelligence) with the following features to solve the above problems:

  • Automated reminder
  • Document storage
  • Debt/ Payment reminder

 

PRODUCT

6Biz is a cutting-edge provider of AI automation services and big data analytics training for accountants and professionals.  Our GoKudos and 6Biz Academy offerings collectively provide “game changer” solutions that enable our clients to save time, reduce costs and unlock new revenue streams by empowering them to deliver business insights and enhanced services to their customers for profitable results.

 

TRACTION
  • Pilot testing at MIMOS – 25 professional firms, 56 participants
  • Academy - Offline workshop - 321 participants
  • Academy - Online workshop - 1,262 participants

 

CUSTOMERS

Our customers are accounting practitioners. Market size in Malaysia will be around 908,044.

 

BUSINESS MODEL
  • Software-as-a-service (SaaS) with yearly or monthly subscription plans
  • Easy market penetration with low entry price of MYR 99/month
  • Strong and speedy revenue growth  with the power of SaaS
  • Market size of MYR 1 Billion (Malaysia, Singapore, Thailand, Indonesia, Hong Kong, Philippines, Australia)

 

MARKET
  • We are targeting a niche market (professional firms) which highly demanded a tool that help them to manage their professional firms
  • Duplication outside Malaysia is fast
  • Market penetration is easy with SaaS

 

COMPETITION
  • Xero
  • Practice Ignition
  • KarbonHQ

Competitive advantages:

  • Aim to reduce >50% of time spent on routine and administrative tasks that do not generate revenues with automation and artificial intelligence (AI)
  • Upskilling the manpower saved with data analytics skill to provide new service to their clients in our platform – unlocking a revenue stream for accounting practitioners
  • Speedy market growth and penetration with the support from our collaboration partners in the profession who share the similar vision with us to encourage their members to speed up technology adoption

 

FUNDING

Minimum – RM2,000,000  

Maximum – RM4,000,000

 

Use of funds:
50% on product development
  • To build and integrate data science team into our organisation
  • To lay the architecture and foundation for data collection
30% on market expansion
  • To deploy market penetration strategies in Malaysia and Singapore
  • To conduct market survey in Indonesia and Thailand
20% on contingency fund
  • To allocate an additional 6 months operational cash flows as reserve for contingency use

 

VISION

To build a wholistic technology-enabled business ecosystem

 

INVESTORS

We have raised RM1,000,058.30 shares up to August 2020 from 12 investors.

 

FOUNDERS
Dato’ Yap Mee Ling

Founding Chairman

  • Dato’ Vimmy Yap successfully exited a traditional business that has seen more than 66x business growth since inception (an average of 4x growth per year)
  • 17 years in managing an award-winning accounting practice (Recognised with 5 awards) and this makes her a true enabler in building the “Online Smart Office” for professionals
  • A seasoned speaker and panelist in various curated private and public business and accounting conferences and forums

 

TEAM
Mr. Ong Meng Gee

Managing Director

  • Best-Selling Author on Amazon.com for a book titled "High Value Online Marketing Secrets For Small Business Owners"
  • Over 30 years in digital consultancy, online marketing, and training, serving clients around the world from diversified industries
  • Helps professional practices and SMEs develop their business by utilising automation with AI and other cutting-edge “game changer” solutions to rapidly impress customers for profitable

 

Mr. Woon Kean Sim

Co-founder

  • 5 years of experience in Academy for both business compliance and data analytics for business owners, professionals, managers and executives
  • 6 years experience in business consultancy and indirect tax
  • Bachelor of Commerce (Accounting), UTAR
  • Certified Citizen Data Scientist Powered by Apache

 

Mr. Aiman Haizam Bin Azizul Rahman

Business Development Manager

  • 5 years of regional start-up experience
  • Worked with multiple companies in strategic planning and business development
  • He loves seeing tangible results and looking forward to growing with the business further

 

Ms. Tong Hui Shi

Finance Team Lead

  • 7 years of practice experience in medium and large professional firm, serving clients from diversified industries
  • Helps professional firms in minimising non-revenue workload so that the associates can work efficiently and improve revenue.
  • Well-verse with accounting and business process

 

PRESS

 

 


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