<\/p>\nOnce the app is up and running, it interrogates the business\u2019s financial data in order to create dashboards and reports so that strategic leaders can really understand what\u2019s going on at a transactional level. They can also make bespoke requests for analysis of a particular issue or pain point \u2013 for example, one client used the software to identify around 50 vendors currently requiring payment within 30 days; it was then able to contact each client and negotiate extensions to 60 days, in order to support cashflow.<\/p>\n
\u201cOur goal is to milk every ounce of data in your system,\u201d Sinha adds. \u201cWe want to make sure that no stone gets left unturned.\u201d Typically, Bunker\u2019s clients identify cost savings of at least 10% of operating expenditure once they start using the software, he suggests.<\/p>\n
That\u2019s quite a claim, but Bunker has been able to win clients quickly. The company began pitching the software to medium-sized enterprises across the Asia Pacific region in the third quarter of last year and has so far signed up around 40 customers.<\/p>\n
The allure, Sinha says, is that Bunker helps businesses bridge a skills gap. \u201cFinance leaders don\u2019t necessarily understand the fundamentals of accounting, while accountants often don\u2019t understand how to use those numbers to tell the story of the business,\u201d he says. \u201cIn addition, you need quite technical data engineering expertise in order to build a software solution that can help.\u201d<\/p>\n
A simple user experience is vital for customer traction, Sinha believes. Bunker says its systems can be onboarded in a matter of days and that business leaders can learn to use it in a few minutes. That\u2019s important since the CEO and CFO tend to be the primary users of the software when it first deploys, he says.<\/p>\n
Investors have taken an interest in the business since its early days, providing pre-seed capital to help it get off the ground. This latest round of seed funding involves investors including Alpha JWC, January Capital, Northstar Group, GFC, Money Forward and a number of angels.<\/p>\n
Eko Kurniadi, a partner at Alpha JWC, says the platform will have particular resonance for businesses trying to cope with economic volatility and upheaval, given ongoing macro uncertainties.<\/p>\n
\u201cNow is the time to focus on a bottom-up approach and for businesses to have complete visibility and control over their finances,\u201d Kurniadi says. \u201cBunker would be a pivotal tool for businesses to make those better and informed decisions. The platform provides comprehensive financial snapshots effortlessly so that the finance team can devote their time to where their expertise is needed instead of spending it on mundane and time-consuming tasks.\u201d<\/p>\n
The fundraising should allow Bunker to develop a fully-fledged go-to-market team, with Sinha initially focused on targeting businesses across the South-East Asia region. \u201cThis is a borderless product,\u201d he points out, with expansion to other international markets part of the medium to longer-term plan.<\/p>\n
Some of the money raised will also support further product development, with Bunker keen to add sophistication to its software in order to target very large enterprises as well as the medium-sized businesses that currently account for the majority of clients.<\/p>\n<\/div>\n
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Source link: https:\/\/www.forbes.com\/sites\/davidprosser\/2023\/07\/24\/bunker-raises-5-million-to-help-businesses-unpick-their-numbers\/ <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Shivom Sinha, CEO and co-founder of Bunker Bunker The promise of data analytics technologies is that they will unlock insight and value hiding in plain sight. And for the finance function in a business, what could be plainer than the thousands of rows of transactions sitting in their general ledgers? Enter Bunker, a Singapore-based analytics […]<\/p>\n","protected":false},"author":1,"featured_media":27115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27],"tags":[25816,9833,64,7839,6681,20551],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/imageio.forbes.com\/specials-images\/imageserve\/64be46cda18301fed5d3e1a4\/0x0.jpg?fit=%2C&ssl=1","_links":{"self":[{"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/posts\/27114"}],"collection":[{"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/comments?post=27114"}],"version-history":[{"count":0,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/posts\/27114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/media\/27115"}],"wp:attachment":[{"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/media?parent=27114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/categories?post=27114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/europepublic.com\/wp-json\/wp\/v2\/tags?post=27114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}