BSOS CEO Interview by GoodFirms
Sep 16, 2021
BSOS Medium
Supply Chain Finance

Daniel Huang

Please introduce your company and give a brief about your role within the organization.

BSOS (Blockchain for Supply chain Operating System) was founded in 2018 with the Taiwan National Development Council being an early investor. The core members come from talents with more than 15 years in the financial and technology industries. We focus on supply chain FinTech and hope to wield technology, especially blockchain, to provide a secure and robust product, transforming the real-world assets into reliable digital assets, which enhance the liquidity and the authenticity of the asset in supply chain finance.

And, I am the CEO of BSOS.

What is the story behind starting this company?

When I met blockchain in 2017, I totally realized that blockchain has unparalleled potential in transactions and records; therefore, I am thinking about whether blockchain can be applied to the industries, instead of only in cryptocurrency. Then I met another core founder of BSOS, Wayne. He has decades of experience in finance, so I introduced blockchain technology to him. He bumped out supply chain finance in no time, as blockchain can improve efficiency, and that is why we start to do business in this field. We found that more and more people pay attention to and participate in this field. And now, supply chain finance has already been a vital part of the enterprise blockchain industry.

What are your company’s business model– in-house team or third party vendors/ outsourcing?

SUPLEX is BSOS’s core product, which is the best digitalization system for enterprises to manage supply chain finance, providing "Early Payment" and "Capital Market'' for enterprises to optimize their cash flow, and helping their supplies to get working capital. This can concurrently solve the account receivable financing problems and achieve a sustainable supply chain. It’s exclusively built up by our engineering in-house team.

How does your company differentiate itself from the competition?

First of all, we use blockchain - it will give real-world assets a revolutionary influence, as it can effectively confirm the original assets and massively increase the liquidity. BSOS is the core spec working member of Enterprise Ethereum, and has established numerous financial systems for large banks; thus, we are very confident in our blockchain development technology.

Next, our supply chain finance system is deeply integrated with supply chain management. For example, integrated ESG index with supply chain finance, which encourages their suppliers to achieve ESG designators.

I think these are the global trends in the next few years.

What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?

We focus on supply chain corporates, especially in Semiconductor, Manufacturing, Green Tech, and Fashion industries. Almost all our customers are repetitive, due to the fact that through our product, our clients can obtain faster and better financing service, which can improve their cash flow as well.

Please share some of the services that you offer for which clients approach you the most for?

The enterprise in the supply chain has longer payment terms and higher amount payment - usually, it is a large listed company.

What is your customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?

All of our clients like our product, because we know that digital transformation is pressure to most of the clients. Hence, we do our utmost to make it easier. For instance, we will try our best to use data integration to achieve automatic processes, and we increase more value for our clients without adding additional workflow.

Second, we attach importance to the user experience. We have hired experts to design the product, for this is the most vital thing to every client, no matter how brilliant the system is.

What kind of support system do you offer to your clients for catering to their queries and issues?

We have professional account managers to serve our clients, and are still looking to adopt the systematic method to solve their queries and issues.

What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)

Enterprises pay the system subscription fee and no cost to their suppliers.

Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?

We mainly provide SaaS with the subscription fee, so there is no minimum budget requirement issue.

What is the price range (min and max) of the projects that you catered to in 2020?

Same as above.

Where do you see your company in the next 10 years?

We can see the promising future of the revolution in finance with blockchain in the next 10 years. Actually, we saw the up-and-coming DeFi last year - its potential is extremely uplifting! The market value of real-world assets is a thousand times larger than the cryptocurrency. In the future, every valuable asset can be found and be priced and then transformed into easy-transfer digital assets through technology. We hope that our company, BSOS, can make contributions and play an indispensable role in the next 10 years!

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