In the Philippines’ fast-evolving market, small and medium enterprises (SMEs) must leverage digital technology to stay competitive. Cybersecurity expert Edmark Estavillo of Innovated Business Solutions (IBS) stressed the importance of social media and cybersecurity for business growth and sustainability.
Estavillo underscored the need for businesses to invest in strong cybersecurity measures to protect against rising online threats expected in 2025. He also noted the importance of social media platforms for engaging customers, building brand awareness, and fostering business relationships.
IBS CEO Khelvin Cruz shared that his company seeks to address the operational gaps faced by local SMEs.
Established in 2024, IBS provides services aimed at enhancing corporate processes, including structure, accounting, auditing, and financial management. Cruz emphasized that many SMEs rely on individuals to handle all office processes, which increases risks.
“One of the pain points of SMEs is only that a lone individual handles all the office processes which shouldn’t be the case. The risks become bigger if you will assign all the tasks to an individual,” he told Manila Standard Life at IBS’s recent launch in Ortigas, Pasig City.
“We do develop the processes of SMEs that would be tailor-made for their specific needs,” Cruz added.
To address these challenges, IBS tailors business solutions to meet the specific needs of each SME. Cruz explained that before onboarding, IBS assesses the business operations of potential clients to identify areas for improvement. The process, which can take six months to a year, involves developing customized solutions to help businesses improve efficiency and minimize waste.
Cruz also emphasized the role of artificial intelligence in enhancing clients’ capabilities.
“We aim to be the catalyst for business transformation, providing SMEs with strategies for sustained growth,” he said.
Innovated Business Solutions focuses on helping SMEs grow by implementing world-class standards in business operations. Cruz, a former CPA and business executive, founded the company to help businesses transition into larger corporations by providing tailored services for sustainable growth. He shared that many SMEs, particularly online sellers, struggle with insufficient corporate structure.
“We help them become more organized and scalable, like large corporations,” Cruz said.
IBS offers key services, including process development and internal controls. Cruz pointed out that fraud risks are high in SMEs where individuals handle multiple roles. The company’s goal is to separate duties and implement effective internal controls to prevent fraud.
IBS’s approach involves thorough assessments of business processes, followed by tailored solutions. Cruz shared that finance is a common pain point for SMEs, as many lack proper financial structures. IBS helps businesses set up solid financial systems to track key metrics and make informed decisions.
Cruz aims to reduce the high failure rate of SMEs in the Philippines by implementing sustainable processes.
“SMEs make up 99 percent of registered businesses here, and helping them grow will have a significant economic impact,” he said.
Cruz also plans to expand IBS’s reach beyond Metro Manila, with a focus on emerging technologies like AI to keep clients competitive.
