Global & Africa Travel News
Smart Finder Reveals Business Expansion and New Product
Bangkok, Thailand, June 16,2022 / TRAVELINDEX / Smart Finder, Thailand’s leading one-stop software developer for the hospitality industry reveals its growth figure for Q1 of 2022, which surpassed that of the previous year, creating confidence for the business’s continued growth and further expansion into new verticals and territories. The Company also reveals partial information about its new cloud-based products which will be launched in 2022.
Mr. Soros Raktham, Chief Executive Officer and Founder of Smart Finder stated that the COVID-19 pandemic seriously impacted the business. “Since we developed all solutions only for the tourism and hospitality service industries. Never, throughout the 25-year history of the company, had innovation and diversification been this important. It took vision, courage, and team effort, not just to get through the pandemic, but to come out bigger and better”.
Currently, the company has over 1,000 customers; the majority are Thailand-based hotels. The pandemic saw several of Smart Finders’ clients closing their properties or even dissolving their businesses, while others adjusted their focus to the domestic tourist market.
Before establishing the software development company, Mr. Soros was a hotelier, accountant, and auditor. With over 10 years of “hands-on” experience in the industry, he understands the challenges and burdens (of expenses) of running hotels.
As Mr. Soros believes that “Developing software requires collaboration and sharing of ideas within all the teams, partners and customers alike, to understand their pain points and fulfill the needs of their businesses”.
Hence, Smart Finder essentially acts as a solutions provider for its customers, to facilitate their business’ success.
Smart Finder adopted the “Go together, go further” approach by offering several “survival solutions” to their customers, including offering discounts and flexible payment terms. By doing so, both parties would mutually bear the financial hardship brought on by the pandemic. This approach has cemented the trust leading to better relationships.
In Q4 of 2021, the Company’s turnover fell by 25%. But because of the Company’s efficient cost and expense management, the business could get through the crisis.
In 2019, pre-Covid, Singapore-based SEA GARENA; the region’s biggest startup investment company, invested an undisclosed amount in Smart Finder after considering the potential of the solutions developed by the Thai team.
They made funds available to further develop the company’s three main products for the cloud namely, Property Management System (PMS), Point-of-Sale (POS), and Back-office System (BOS). As well as a range of “self-service products” focusing on a mobile guest application (GSA) and a self-service kiosk. All products are due to be launched later this year and are set to come with fully integrated payment solutions, making it easier, faster, safer, and competitive for customers to use.
The new software will be more customizable and scalable, thus more applicable to a wider range of businesses beyond hotels, such as entertainment complexes, spas, amusement parks, waterparks, and serviced accommodations.
Venues may choose to use our new products either with a cloud server, an on-premise server, or both (hybrid), thus providing a solution for all types of clients, venues with no restrictions on size or location. Also included in the new range of products will be a new mobile application for the employees featuring task management, approvals, etc. adding agility and efficiency while simultaneously managing your teams.
The full cloud suite of products will initially be launched in regional markets. In Q4 of this year, Smart Finder will be rolling out pilot projects in Thailand as well as neighboring countries including Vietnam, Cambodia, and Indonesia, with tourism similar to Thailand’s.
Mr. Soros stated that “for the course of business this year, we are determined to deliver our new products with greater efficiency and better features. I am privileged to have an extremely experienced team. Some of which have been with the company for 15-25 years and have a very deep knowledge of our customers’ needs, resulting in developing – not just what they want – but also being able to give them what they need”.
Mr. Soros additionally concluded that “we have set out an ambitious 5-year plan to take our products International. We are establishing a new Global HQ in Singapore and building a team of international experts and partners to help us grow in new markets”.
The new SORASO system is a culmination of 25 years of experience of Smart Finder in Thailand. Therefore, Smart Finder will act as a representative of the Thai technology industry by introducing Advanced Software Solutions to the global markets.
Smart Finder was founded in 1997 and has steadily grown to become a leader in management software for hotels, restaurants, and tourism in Thailand with above 1,000 business partners in Thailand. The Company won the excellent software award from the ICT Awards in 2015 as the first company in Thailand. This year, Smart Finder’s next chapter will include International expansion by debuting the new company, SORASO, to be registered in Singapore. Smart Finder also aims to list on the Stock Exchange of Thailand through an initial public offering by 2027.