As part of its expansion plans into the Asia Pacific region, BizEquity recently launched its patented cloud-based business valuation platform customised for the Singapore market.
According to BizEquity, the platform harnesses business valuation knowledge and big data insights to provide a business valuation figure in a shorter amount of time and a cheaper rate than the traditional way. The platform is said to take less than a tenth of the typical time of two to four weeks to churn the valuation value and at a cost that is a fraction of the typical price of S$5,000.
Featuring 379 Singaporean specific industry classifications, the platform has been specifically tailored for the Singapore market. It incorporates localised industry knowledge, including a unique Singapore Standard Industrial Classification (SSIC) code and benchmarking data unique to the region, as well as adheres to local financial reporting standards, said BizEquity.
The company added that financial institutions can white-label the platform and use the valuation report as a prospect and lead generation tool. It can also be used to open up new conversations with clients on an expanded range of commercial products and services, leading to deeper, more engaged and profitable relationships.
Michael M. Carter, BizEquity’s CEO, said that the platform was customised to the Singapore market as the republic is the “optimum gateway into the Asia Pacific market” since it is one of the region’s top financial centres and financial technology capital. “With SMEs accounting for over 97 percent of all enterprises across the region and representing over half of the workforce, the market opportunity is vast and we believe that all these companies need our service. The dedicated Singapore platform is the first step for us in democratising business valuation knowledge across Asia.”
Founded in 2010 by former venture capitalist Michael M. Carter, BizEquity was conceived through the support of a leading financial institution and leaders in the accounting, finance, venture capital, and technology arena. The company’s chairmen include US software investor Peter Musser and former COO and CFO of American Institute of CPAs (AICPA) Clarence Davies.