The outlook for ecommerce continues to be vibrant having been nudged further by the coronavirus disease pandemic, and Rommel Santos, founding chairman of Smart Asset Managers (SAM) has an equally rosy take.
In an interview with Daily Tribune, Santos explains how SAM, the Netflix of business, is riding the robust tide of Philippine digital economy and is poised to bolster an economic head start with its business in the country this year.
Santos provided a perspective on how SAM has capitalized on the preference for remote interactions to expand its Philippine operations:
Daily Tribune (DT): SAM has recently expanded its operations to the Philippines.
Smart Asset Managers, what are we talking about here?
Santos: Well, Smart Asset Managers is in digital and conventional business development, we are into subscription based program that is actually a community base that aims to provide economic opportunity through our conventional business developments.
What we do is we invite people to subscribe in these SAM project developments.
In exchange for their subscription — where there is a fee attached to it — we provide the information to those conventional businesses that we have either acquired, are conceptualizing, establishing, operating or buying as a whole concept.
We have a step-by-step guide on how we acquired it, how we comply with regulatory compliances, by way of registering those businesses coming up with a marketing plan in everything.
We list the possible opportunities where our subscribers can directly engage those conventional businesses, as either an investor or a self-owned business, or they join the consortium.
On those conventional businesses, we receive revenues from them, and those revenues get converted into “SAM points,” which gets distributed to our community subscribers base, points that they can either convert to fiat or an acceptable cryptocurrency.
(DT): What does your robust expansion mean to Filipinos?
Santos: Aside from the fact we’re developing all these conventional businesses for people in our community subscribers’ network, we are in talks with two or three big financial facility providers that can offer short-term and long-term business finance.
So being in our network entitles a subscriber a credit upper hand.
It will also benefit a lot of overseas Filipino workers who can start planning their retirement now and actually execute action. They can join a consortium, have their own business rights, they can operate within our group itself. As SAM’s commitment to its subscribers, we help them operate and run the business both financially and administratively.
(DT): You’ve mentioned Sam e-wallet and, well, the smart asset managers project developments. Can you walk us through the mobile app’s other various functionalities? Or the ones in the pipeline you are soon integrating into the system?
Santos: On the financial side, we are following a five-year roadmap.
We’ve accomplished 65 percent; the next 30 percent we are eager to accomplish in the next 90 days. The unique experience in SAM is that, when we started inviting people to subscribe, what they do is they crowdfund the development.
We are integrating everything.
We’re opening up an engagement with Visa Debit Card. For example, we have the KYC digital verification system, which is being integrated in our system. We have the SAM coin, which will be launched in the global exchanges in the next two or three weeks.
On those conventional businesses, we receive revenues from them, and those revenues get converted into SAM points.
(DT): You are abreast with businesses, conventional and digital, so much so that you put your money on it.
What are the ways you suggest companies need to adopt to level up their game in 2021?
Santos: What I suggest is that they enhance the digital services that they are offering to people. Because, right now, it’s about adaptation.
The potential of the digital technologies right now is actually 10 years ahead of the conventional technology that has long been in place. So, I think, people need to look at the digital side of everything.