KPMG R.G. Manabat & Co., also known as KPMG in the Philippines, held its Innovation Summit on July 20, 2023. In its three-year history, this was the first time it was done as a hybrid event. In person at Fairmont, Makati, tech and business leaders from various industries spent the day learning from the four panel discussions and networking with their peers. Virtual attendance via Zoom was free for anyone wanting to learn about the latest technologies that help organizations thrive in this digital landscape. This year’s topics were smart cities, ESG tech, the next wave of automation, and industry disruptors.
Digital Government Center
KPMG R.G. Manabat & Co. also launched its Digital Government Center (DGC), the firm’s one-stop shop for national government agencies and local government units (LGUs). Like the Innovation Summit’s theme of Making It Happen: From Innovative Ideas to Execution, KPMG will help government bodies with their digital transformation journeys. Services will cover everything from strategy and road map development, citizen-centric solutions design for digitizing and automating services and processes, and project management, to upskilling civil servants through training and certifications.
Emmanuel “Noel” P. Bonoan, KPMG Vice Chairman, COO, and Head of Advisory, said KPMG made a big bet on tech in the Philippines and is focused on transforming businesses using digital automation. Since LGUs are the first touch point in all our lives, the DGC wants to focus on them. For the future services of KPMG, they’re looking to deploy their traditional financial know-how to new applications.
Sharon G. Dayoan, KPMG Chairman and CEO, said the DGC isn’t free, but KPMG is willing to invest in LGUs who want to go on the digitalization journey. Technology comes with a cost, but the long-term benefits are there. Of the KPMG offerings, she cited that after the pandemic, their advisory services volume started growing to catch up to that of their audit and assurance. With the growth came an increase in personnel. KPMG provides courses to help their new hires think differently in order to serve their clients better.
Jallain Marcel S. Manrique, KPMG Head of Technology Consulting, said the Philippines is not a first mover. We’re more of an adopter. Things happen slowly, but then the adoption is sudden. When asked whether the Philippines is ready for a digital future, he said it’s not a matter of readiness. Sometimes, you just have to do it. When AI takes over, a huge workforce will be displaced. That’s why as early as now, people need to upskill or they’ll get left behind. With further automation, KPMG can focus on providing more insights and advisory services.
Global Tech Innovator
The Innovation Summit was also the culmination of the KPMG Global Tech Innovator in the Philippines. The competition showcases start-ups and entrepreneurs who are innovating to become the tech leaders of tomorrow. The winner of the local leg will represent the country in the global final in Lisbon, Portugal later this year. Finalists Packworks, Peddlr, and Prosperna gave it their all for the final pitch.
Prosperna
Company: Prosperna
Presenter: Dennis Velasco
Prosperna is an e-commerce platform that offers business owners the opportunity to launch their online store in just a few minutes, with no coding skills required. Lola Nena’s is one of their notable customers.
Prosperna uses a product-led approach and product distribution partnerships to grow the company. CEO and founder Dennis Velasco comes from a Silicon Valley background. He leads the company with Ruel Nopal, Head of Engineering and Security, and Francis “Fro” Oliva, Head of Business Development.
Packworks
Company: Packworks
Presenter: Bing Tan
Cofounders: Hubert Yap, Ibba Bernardo
Packworks empowers the sari-sari stores in the Philippines through scalable and accessible technology. They work with all aspects of the FMCG distribution supply chain and charge a take rate for each partner, except the sari-sari store owners, their main customer. They are a data company for MNCs, a digital order taker for distributors, and an advertising and loyalty program platform for sari-sari entrepreneurs.
CEO, CTO, and cofounder Bing Tan believes a strong economy is an inclusive economy. One of Packworks’ sari-preneurs, Ana Lou, can now take rest days because she can leave her store with her family. The majority of Packworks’ market is female with an average age of 55. They have teenage children who can also help run the stores. From an initial 14 days, onboarding now takes just 1 day.
Peddlr
Company: Peddlr
Presenter: Nel Laygo
Cofounder: Aiko Reyes
Peddlr provides free POS and digital ledgers that help Philippine micro and small businesses better manage operations and earn more. They’ve been operating for 2 years and currently employ 80 people. They reach out to their community of users to learn what matters most. In addition to helping improve the product, this builds trust. That’s why Peddlr’s retention rate is remarkably higher than the 25% industry average for fintech apps.
Rather than burning cash for exponential growth, CEO and founder Nel Laygo chooses to slowly build out the fundamentals. Based in Catbalogan City, the company pays Metro Manila wages while incurring provincial costs. By attracting local talent, he’s also building the narrative that success isn’t only in Metro Manila and Cebu. And that seems to be the case because one of the judges commented that Peddlr can be found all over Samar.
The judges were looking for a company whose business plan was sustainable and that could scale internationally. Peddlr, the crowd favorite, took home the gold. Packworks came in second, and Prosperna got third place. Congratulations to the finalists! We can expect them to execute more innovative ideas in the near future.
KPMG in the Philippines
Website: https://kpmg.com/ph/en/home.html
Facebook: https://www.facebook.com/kpmgph
