Philippine SMEs outpace APAC in automating financial processes – study

Thursday 30 August 2018 09:56 CET | News

FedEx Express has issued a survey revealing that Philippine SMEs have outpaced their Asia Pacific (APAC) peers in embracing fintech solutions.

The survey called “Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific,” was conducted by Harris Interactive on behalf of FedEx Express.

In a briefing FedEx officials said that eight out of 10 SMEs in the Philippines use both mobile payments and software automation in their business. This is higher than 77% of SMEs in APAC using software automation and 73% using mobile payment apps.

FedEx representatives also shared that they see the global trade footprint of Philippine SME is moving further afield as they start to think bigger in this thriving digital economy, as the survey showed that 96% of Philippine SMEs use ecommerce, which accounts for 52% of their total revenue.

Markets covered in the report were Mainland China, Hong Kong, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam, with a sample size of 500 respondents per market.

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Keywords: Philippines, SMEs, APAC, AP automation, digitization, financial process, Harris Interactive, FedEx Express, Asia Pacific, software automation, ecommerce, mobile apps
Countries: World