Together with Asia’s leading financial services group DBS, Doxa will revolutionise the construction industry with Doxa Connex. With it, construction firms will be empowered to automate manual processes and digitise documentation. This digital platform will allow companies to yield a reduction in administrative fees and processing costs by at least 50%.
Tiong Seng Group, an established name in building construction and civil engineering in Singapore, has agreed to adopt this platform and be the first to pilot this project in the local industry. They can expect a significant reduction of working days in administrative tasks and will be able to redeploy their talents in higher-value work. Business automation will reduce human error, and would resolve accounting conflicts as well as financial discrepancies quicker. Thus, increasing the rate of processing invoices by 2.5 times.
Edmund Ng, Co-Founder and Managing Director of Doxa, said, “It has been a privilege to work with DBS to develop Singapore’s first supplier automated payments solution and to have the opportunity to implement this with Tiong Seng for the construction industry. Being a fellow SME, we can empathise and relate to the challenges of having payments delayed, especially during this period of economic uncertainty. We hope to continue this journey with DBS to develop solutions that equip companies with the right tools to navigate the uncertainties of the new normal. I believe that digital transformation is the right step forward, regardless of the size of the company, in any industry.”
Doxa is a fintech startup that has developed a best-in-class enterprise platform that connects buyers, suppliers and financiers seamlessly. We make it easy for buyers from procurement to payment, for suppliers from orders to payment, and financiers from assessment to funding. Our unique capability lies in having a core enterprise-grade platform that has the flexibility of adding enhancements to fit additional and more complex workflow for any industry. It is with this capability that we can enhance our platform to include features to perform all the construction-specific requirements, and at an affordable cost.
Leon Yeo, Co-founder, Operations