Small and medium enterprises (SMEs) in the Philippines must prioritize digital transformation, with a focus on social media and cybersecurity, to remain competitive in the fast-evolving market.
This was emphasized during the launch of Innovated Business Solutions (IBS) in Ortigas, Pasig City.
Cybersecurity consultant Edmark Estavillo highlighted the growing significance of social media and cybersecurity in driving business growth and protecting against increasing online threats.
“Cybersecurity is critical in today’s digital landscape, especially as online threats are expected to escalate further in 2025,” Estavillo said. “Social media, on the other hand, is a powerful tool not just for customer engagement but for building brand trust and loyalty.”
Estavillo also discussed how businesses can enhance customer relationships by handling inquiries and complaints more effectively, emphasizing that even small interactions can significantly impact a brand’s reputation and customer loyalty.
IBS CEO Khelvin Cruz shared the company’s mission to help local SMEs develop world-class standards in corporate processes, including structure, accounting, auditing, and financial management. Formed in 2024, IBS focuses on bridging operational gaps that hinder many SMEs from achieving growth and sustainability.
“One major challenge for SMEs is that a single individual often handles all office processes, increasing risks and inefficiencies,” Cruz said. “We aim to help SMEs streamline their operations with tailored systems and internal controls to prepare them for long-term success.”
IBS follows a structured approach to assist SMEs. The initial phase involves a six-month to one-year evaluation of a client’s business operations to identify areas for improvement. In the second phase, customized solutions are developed to address the specific needs of the business, such as reducing waste in manufacturing or implementing robust financial systems.
Cruz also emphasized the importance of artificial intelligence (AI) in enhancing business capabilities. “AI is an integral part of our solutions, helping businesses modernize and optimize their operations to stay competitive,” he explained.
Cruz highlighted the critical role of SMEs in the Philippine economy, noting that they make up 99% of registered businesses. However, many SMEs fail due to a lack of proper systems and operational structures.
“Our mission is to empower SMEs to reduce their failure rates and grow sustainably,” Cruz said. “By equipping them with the right tools and strategies, we can help them contribute significantly to the country’s economic development.”
IBS plans to expand its reach beyond Metro Manila, providing tailored solutions to SMEs nationwide. The company aims to position itself as a key partner in driving business transformation and ensuring the long-term success of Filipino enterprises.
“SMEs are vital to our economy, and helping them grow means helping the nation prosper,” Cruz concluded.
