Bunker startup claimed it has reduced by around 20 to 50 hours spent on the accounting and finance of its clients monthly.
Heaptalk, Jakarta — The financial analytics startup Bunker has officially appeared in Indonesia to provide financial analytics services devoted to enterprises in the country. The presence of this company in the archipelago follows its latest funding achievement recently in seed funding worth US$5 million from Alpha JWC Ventures, January Capital, Northstar Group, GFC, Money Forward, and angel investors.
This startup notices the CEO and CFO of many enterprises have long relied on financial reports that are too simple as the Financial Planning and Analysis (FP&A) data process requires a long time to be audited, even beyond the monthly book closing period, whereby the FP&A details can assist business leaders in making decisions, preparing strategies, and spotting business opportunities.
As the Bunker’s CEO and Co-Founder, Shivom Sinha, explained, financial analysis and planning (FP&A) cycles proved shallow, slow, and consumed many hours of work each month. Bookkeeping files are the most complete economic data for gaining critical insights into a company. But the process of unpacking and managing data is overwhelming. According to his perspective, this matter can lead to oversight that impacts poor cash flow and budgeting management.
For this reason, this startup aims to offer financing solutions to increase financial visibility more quickly and accurately by discovering frequently overlooked data in company accounting data or Enterprise Resource Planning (ERP), expecting to bridge the gap that the company’s leaders face.
Bunker design software can drill down through scanning thousands of transaction lines and other data to find vendor-specific fees and opportunities to negotiate payment terms, drive ad-hoc budgeting, and manage investor relations by making fundraising smoother.
This software that Bunker provides is claimed to save costs to about 10% of the operational expenditure of the clients. Regarding working hours efficiency, the company claimed it has reduced by around 20 to 50 hours spent on monthly accounting and finance of its clients.
Bunker has been integrated with Xero, NetSuite, QuickBooks, Journal, Accurate, and SAP software. Adapted to the management team system in Indonesia in operationalizing FP&A data, this startup has a simple onboarding work model. Besides providing financial analytics rapidly, the service also covers monthly PDF reports consisting of bullet points, graphs, and tables in easy-to-understand language.
Instead of expanding into the US and European markets, Bunker’s current focus is on strengthening and growing its services in Indonesian and Southeast Asian markets, whereby the company has forged robust relationships with a substantial accomplishment. Although the company has always kept an eye on opportunities for global expansion, deepening its commitment to the markets it currently serves has remained Bunker’s priority.
“We intend to bolster middle and upper businesses in the archipelago to have an executive-friendly and more efficient financial system. With Bunker, we can speed up the Financial Planning and Analysis process thirty times and complete the financial analysis that used to take weeks to a matter of days.” Bunker’s Co-Founder and Strategic Advisor, Jibrilia Alamsjah, concluded.
