Company Secretarial Work System Development and Maintenance Service

Bona Trust Corporation provides company secretarial business system development and maintenance service.

comsec_work

This service is intended for companies engaged in company secretarial work and offshore government authorities.


What is the essence of company secretary duties?

Many of the company secretarial firm (hereinafter referred to as “Comsec”) duties are to act as registration, management, and renewal of entities entrusted from clients, and the essence is back office work. However, back office work is not a work directly linked to profits because of its nature.

Many of these operations involve continuation and iteration, so automation can be achieved based on certain rules. This makes it possible to reduce the workload and the number of processes for many operators.

◇ Traditional staffing
Non – Revenue departmentRevenue department
◇ Relocation staffing by IT automation is realised
Non – Revenue departmentRevenue department

Therefore, it is more ideal to allocate human resources by shifting human resources to the revenue department as much as possible and concentrating on higher-margin and high-value-added operations.

This can be expected to greatly improve KPI (Key Performance Indicators) from the viewpoint of performance evaluation.

KPI


What are the areas where Comsec duties can be automated?

The Comsec is mainly responsible for incorporation, management, renewal, etc. of the client’s company (business entity), but the Comsec itself is also a company that conducts business activities such as sales and promotions.

Therefore, the most profitable business activities are (1) acquiring new clients and (2) increasing the number of clients. This is the first time we can secure a stable income. The above work (1) and (2) are classified as priority A.

PriorityAttribute
AImportant and Urgent
BImportant but not Urgent
CUrgent but not Important
DNot urgent or Important

The importance and urgency of the task performed by the company secretary is as follows:-

Importance (High)
Urgency (low)

B (Non-revenue business)

  • Staff training
  • Formulate medium- to long-term management strategy
  • Operation manual creation
  • Review and optimise business flow, introduction of IT infrastructure

A (Revenue business)

  • New client acquisition (sales and marketing, website creation, advertisement, etc.)
  • Large client support
  • Advisory services
  • Custody of trust assets
Urgency (high)

D (Non-revenue business)

  • Creation and storage of invoices and receipts
  • Creation and storage of bookkeeping
  • Unproductive meetings

C (Non-revenue business)

  • Continuation and repetition tasks (inquiries with the same content, creation of updated documents)
  • Creation and submission of reports, etc.
Importance (Low)

Note: The above work items are categorised based on KPI (Key Performance Indicators).

In the matrix table above, the importance increases as move up and the urgency increases as move right. On the other hand, the importance decreases as move down and the urgency decreases as move left.

In company secretary duties, the root cause of the most “busiest” work is part C. How efficient this area is the most important point for successful operation.

If we compare this work to a highway, the company secretary acts as a checkpoint. In order for cars (clients) to pass smoothly without slowing speed down, it is necessary to prepare a mechanism that does not cause traffic jams. This is a very important roles and responsibilities for Comsec operator.

Traffic Jam

In the above example, the car speed is the growth speed of the client company. If they put more burden on the office work than necessary, clients will often put the brakes on, and this will adversely affect the growth speed of client companies.

highway

Therefore, in order to solve C‘s problem fundamentally, B‘s work must be prioritised.

However, many Comsec give priority to C, and as a result, the operator department becomes chronically busy.

Business scope of B and C
Business scope of BRoleCreate tools to streamline C’s routine work
ResponsibilityReduce C’s workload and improve operational productivity
Business scope of CRoleUtilise efficiency tools created to improve operational efficiency
ResponsibilityReduce client time costs and improve client satisfaction

Therefore, as the number of clients increases, the burden on the operator increases and the response quality decreases. As a result, customer satisfaction decreases. The relationship between the number of clients and the secretary’s response quality should be inversely proportional, and in the worst case, efforts should be made to maintain the status quo.

In addition, C is not a task that directly affects profits, so over-allocating human resources here will reduce labor productivity. It is more efficient to concentrate human resources on A and B, and to automate C and D as much as possible.

Labuan company secretary IT

Bona Trust Corporation aims to provide a company secretarial service that enables humans and robots to coexist by realising automation using IT for operations that require continuation and repetition work.

We will respond flexibly and quickly to changes in the times and strive to provide the most suitable service for that time.

“Old and good things are always new”. While respecting tradition, we will continue to be innovative always with you.


The technical services we can provide

The technical services we can provide are as follows:-

Product nameMYB (Cloud Comsec – Company Secretarial Work Software)
Product attributesBPMS (Business Process Management System)
The Comsec work is dominated by routine work that requires continuation and repetition. In the past, the creation of documents such as documents that have been performed by humans can be expected to have the effect of reducing the burden on operators and improving operational efficiency.

Operators work based on a standardised work flow, so anyone can be responsible for the same results and maintain a constant quality of work. This is useful for optimising the PDCA cycle (Plan, Do, Check, Action).

This system is effective as a human error prevention measure by creating a database of information input by the client and setting the output destination in advance.

By using RPA together with BPMS, it is possible to automate continuous and repetitive work that occurs every year, such as annual renewal notifications.

Product nameKND (Cyber ​​Operator)
Product attributesRPA (Robotic Process Automation)
Regular work with continuation and repetition is the field where IT excels.

The robot can learn as much as possible of the business processes performed by the operator, and automate routine tasks such as document preparation on behalf of humans, thereby minimising the number of work processes.

By outsourcing to robots, the person in charge of the chief operator only needs to carry out the final confirmation, and the surplus personnel can be dedicated to work with higher added value.

Automating routine tasks such as sending notification emails for audit and annual renewal can be expected to greatly improve KPI (Key Performance Indicators).

Scheduled to be released in August 2020 (Under development)

Product nameTKM (Cyber Clerk)
Product attributesOCR (Optical Character Recognition/Reader)+RPA (Robotic Process Automation)
Documents created by the operator are sent to all clients by email. After that, the original document signed by the client must be finally checked for defects before mailing.

Therefore, the same format of scan data is attached to the reply e-mail from the clients, and Clark (back office worker) performs final confirmation. This is a work that occurs several times a year. The more management companies (entities), the greater the amount of work.

In this case, using an OCR (Optical Character Recognition/Reader), it is possible to automatically check the correctness / incorrectness judgment by checking the registered signature handwriting against the database. If there is no deficiency in the documents, the clerk will send an email with the mailing address to the client with just “one click”, and the paperwork will be completed.

This reduces the administrative burden during busy periods and variable costs due to hiring additional staff, and as a result can be expected to optimise Comsec portfolio.

In addition, OCR technology can be applied to the creation of accounting data, and it is expected to automatically journal data read by AI and automate output to B/S (Balance Sheet), P/L (Profit & Loss), G/L (General Ledger) and T/B (Trial Balance). In the future, OCR technology could make a significant contribution to both the secretarial and accounting industries.

Preparing for development

Product nameSKR (Cyber Consultant)
Product attributesDMT (Data Mining Tools and Applications) + AI (Artificial intelligence)
For operators engaged in Comsec works, there are a range of similarities and regularities in the contents of questions from clients, and there are many cases in which responses can be completed by preparing the answers. The operator’s continuous and repeated response flow can be expected to reduce the operational burden of operations by letting AI robots perform machine learning.

In addition, the question contents that the robot could not answer and the natural language that cannot be interpreted are listed, and the processing performance of the AI robot will improve dramatically as the operator educates how to answer the question.

This is not only for clients, but also visualises the thinking circuit and intellectual property of veteran staff and can be expected to play an active role as an internal supervisor. It can be expected to minimise the time cost and time lag for taking over work, such as preparation for sudden retirement and childcare leave of veteran staff and the rookie education.

In addition, as the robot continues to operate 24 hours a day, 365 days a year, daily data viewed by visitors and operators are automatically compiled and accumulated as big data. By summing up and analysing these, it is possible to improve the quality of response and to make management decisions.

Product nameISM (Cyber Custodian, Information Security Management Platform)
Product attributesDLT (Distributed Ledger Technology) + RPA (Robotic Process Automation)
There are a number of confidentiality obligations associated with offshore Comsec duties. Many businesses require strict management of confidential information as risk management. However, once information is leaked, it has no meaning anymore.

For example, airplanes are designed on the assumption that they will crash, and the cockpit is equipped with an escape parachute and a hangar separation device as standard. In the same way, the anonymous protection of confidential information in cyberspace is expected to be standardised.

DLT (Blockchain) is extremely difficult to tamper with, and by implementing an anonymous smart contract that can only be viewed by the parties, it is possible to automatically execute from contract conclusion to contract condition confirmation / performance and ownership transfer procedure. Mainly, it can be expected to prevent the leakage of non-public company registration information, insider information obtained from business, NDA (Non-Disclosure Agreement) etc.

As a result, the scope of application is wide-ranging, especially in the trust business, storage of trust deed, protection of ultimate beneficiary owner information, and protection of claims from creditors.

Release date undecided (During implementation test)

Product nameHBS (High-speed Automatic Iterative Calculator)
Product attributesFPGA (Field Programmable Gate Array)+RPA (Robotic Process Automation)
For example, 2 tasks are required to eliminate traffic jam. One solution is to reduce the number of cars, and the other is to increase the width of the road itself. If this is applied to data communication, even if all operations can be automated, if general-purpose CPUs cannot keep up with data processing, time costs (traffic jam) will occur.

When data processing is performed on general-purpose CPU software, first of all, data is acquired from memory and encoded. This is extremely inefficient. On the other hand, FPGA (Integrated Circuits) perform hardware signal processing, so data processing is completed while flowing from right to left, eliminating unnecessary data traffic. If this is linked with RPA, it can be expected to improve the efficiency of computation processing for continuation and iteration.

In addition, because the latency (delay time) of FPGA is short, compared to the time to enter the memory from the network and process by the CPU, since the data can be calculated at the moment of entering from the network, the throughput (transfer amount) can be reduced to the minimum unit, and the processing speed of the entire system can be realised.

In other words, in the case of roads, the number of cars (calculated data) is reduced at the moment of entering the network (main road), the size of the cars (data size) is minimised, and it can be expected to prevent traffic jam (data processing delay).

Preparing for development

Should you have any queries, please do not hesitate to contact us.


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