Forbes: Binderr is disrupting corporate services with its digital platform

This post was originally featured in Forbes. You can read the original article here.

While institutions develop strategies and countries work on plans and implementation, the private sector often runs ahead with state-of-the-art technology or innovation. At times those great ideas have to be put aside until the environment is ripe. The invention is there, but the infrastructure to implement it sometimes lags behind, hindering otherwise natural progress and growth.

Fortunately, Member States, the EU and other organisations recognise that digitalisation is crucial in all areas, including corporate law. Seizing that opportunity, Binderr has tailored an advanced automated platform for setting up and managing companies, directly submitting documents to the business registries. No countless excel sheets, no piles of papers, fewer errors and way more compliant companies – the benefit that Malta's business register has acknowledged and approved as the way forward. Other countries, like Portugal, Ireland and Cyprus, are in the process of finding out the benefits of cooperation with Binderr and ways to enhance the ease of doing business.

The unique platform is developed for corporate service providers and legal firms to boost their efficiency, interconnect with the public sector and increase general economic productivity. It automates corporate changes and allows legal firms and CSPs to reduce submission time by up to 95%. And this brings a revolutionary shift in how CSPs run their business – now they can serve more clients, utilise their human resources more efficiently and increase their billable hours.

Currently, Binderr provides services in Malta by setting an example of how public and private sectors can be interlinked with just one click. No need for excess travel or document transportation and use of couriers when there is an e-signature and innovative platform suited for business 4.0.

Digitalisation is not a luxury, but a necessity

Five years ago, the G20 Digital Economy Declaration pointed out that digital infrastructure is at the heart of digitalisation, but still, not everyone has the same opportunities to be connected. This is why there is a need to bridge the digital divide, which is still particularly pronounced in geographical terms. Based on OECD (2021) data, the COVID-19 pandemic was a turning point for many companies, half of firms in the EU have taken action to become more digital, from online sales to smart working solutions.

Where there is a will, there is a way. We see an increasing tendency for companies to digitalise their businesses. However, there is equally increasing demand for governments and the public sector to enhance the infrastructure, minimise the digital divide and provide an environment for innovative and efficient businesses to flourish.

At Binderr, we believe that automated data service and state-of-the-art e-governance is a privilege that allows a jurisdiction to excel amongst the most competitive business environments. A good example of such a smart move is Dubai, which in 2019 announced a Unified Business Registry Platform (hosted on the innovative blockchain platform) that enables local and federal entities to provide a unified and transparent outlook of business in Dubai.

Transition to fully automated corporate online services is inevitable and should also become an integral part of e-government strategies for each member state of the EU.

Embracing CorpTech can ensure the interoperability of private sector and government registries to enhance efficiency at all levels. For business registers, cooperation with platforms like Binderr provides an opportunity to improve performance by reducing errors, saving resources and improving compliance rates. Binderr allows staying one step ahead - to eliminate discrepancies before they even occur.

Binderr is built by an international team with experience from some of the largest European technology companies like Bolt, Easy: Park and Wise.

What benefits does Binderr bring to business registries across the EU?

• Decreased public sector costs of maintaining registries
• A reduced transaction time
• Real-time access to information updates
• Immediate verification and compliance
• Improved collaboration at cross-border and regional levels
• Ensured business continuity (in case of limited mobility)