RIZAL Commercial Banking Corp. (RCBC), one of the country’s banks that is keen on helping empower Filipino business owners to succeed, launched recently an all-new app that allows entrepreneurs to streamline their operations and make financial management easier and more convenient.
Called the “RCBC Boz,” this digital tool will allow the agile and tech-savvy generation of business owners, even freelancers or those employed but with side hustles, to efficiently and easily keep track and manage their financial transactions so they can separate their business from their personal finances, all within a few taps or clicks on their digital device such as a smartphone.
This way, they will easily learn the rudiments of financial management and not be weighed down by administrative burdens and concerns so that they can focus on growing their business further.
“The launch of RCBC Boz empowers the entrepreneurial spirit of the Filipinos. This groundbreaking app ensures that business owners can focus on realizing their aspirations and achieving their strategic goals,” explains RCBC Head of SME Banking Group Anna Christina Vicente during the launch.
Among the key features of the RCBC Boz app include transaction tracking, e-invoicing for efficient collections, automated payroll tasks, business goal setting, and real-time financial reporting, among others.
RCBC is among those who provide consistent support to Filipino entrepreneurs in whatever industry sector around the country, and serves a varied list of clients, mostly those on wholesale and retail trade, automotive dealership, construction, manufacturing, hotels and entertainment, agriculture, and healthcare.
According to Vicente, the RCBC Boz app is available nationwide to be able to reach all areas outside of the National Capital Region.
The Philippine Statistics Authority (PSA), in its 2022 List of Establishments (LE), said there were 1,109,684 businesses operating in the country. About 1,105,143 (or 99.59 percent) are MSMEs and 4,541 (0.41 percent) are large enterprises.
Micro enterprises represent 90.49 percent, or 1,004,195, of total establishments, then the small enterprises at 8.69 percent or 96,464 businesses, and medium enterprises at 0.40 percent or 4,484 firms.