Online technology is revolutionising how we do business, says company founder Terence Naidu.
“Envisionit E-Escrow creates trust between strangers by providing a simple online solution to safeguard both the buyer and seller,” explains company founder and MD, Terence Naidu. “Finally, there’s a way to buy and sell anything without the risk of being scammed. By using Envisionit E-Escrow, buyers ensure delivery of the goods or service they paid for while seller/service providers ensure timeous payment.” CFO South Africa spoke to Terence about the value that his organisation offers the market, how technology is changing the industry, and why he chose to partner with Finance Indaba.
What value does your organisation offer to those in the finance profession?
“We offer an easy and cost-efficient online solution that de-risks all counterparts to a transaction be it in business, government or personal. Wave goodbye to worry, with Envisionit E-Escrow as your personal paymaster, that feeling of anxiety when concluding a transaction is a thing of the past. E-Escrow enables seamless delivery and payment which we believe will spur increased levels of economic activity within South Africa and inter Africa trade beyond our borders. E-Escrow ensures reduced risk when financing business while hopefully reducing their cost of financing.”
How do you see the company and its offering evolving over the next two to five years?
“As the premier and trusted name in business, we see Envisionit E-Escrow becoming a household name and the only way to transact in South Africa and on the African continent. We’re looking to enhance cross-border trade between African countries and capitalise on greater levels of digitisation and e-commerce on the continent. When in doubt, simply ‘Escrowit’.”
Please share your thoughts on the role of technology in an ever-changing business environment.
“Technology in business has changed the face and pace of how we do business. We’re starting to see exponential rates of progress where old business models no longer last. Technology has driven greater levels of efficiency, bringing down the cost of doing business and the cost of the end product to the consumer. Online technology is revolutionising how we do business. Mobile apps are changing and democratising the consumer/retailer relationship. The future for entrepreneurs and smaller businesses looks brighter for those utilising e-commerce. Smart phones and social media are giving consumers the ability to discover new brands every day.”
Please share your insights into the future of the finance profession and how you see this taking shape.
“The days of the finance profession being rigid and slow to react to change are numbered. We see finance being at the centre of organisational performance by being flexible, adaptable, providing real time reporting and predictive analytics. Finance professionals will not only be required to embrace but also initiate innovation to ensure their relevance.”
Why did you decide to partner with the Finance Indaba and what are your expectations from the event?
“We see the Finance Indaba as an effective platform to showcase the benefits of our escrow solution to the rest of the finance community and the country. We aim to share ideas and collaborate with other FinTech companies while engaging in thought-provoking conversation to solve the challenges we face within the industry and the economy at large. The Finance Indaba will assist Envisionit E-Escrow in reaching a credible and diverse audience within the Finance sector.”
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