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Swiss Venaco Group rolls out expansion to Asia by joining forces with Cheng & Co

April 19, 2018
Kuala Lumpur

Venaco Group and Cheng & Co enters into a memorandum of understanding (MoU) to extend digital enterprise transformation services as well as to harness the potential of blockchain through the adoption of SophiaTX – the blockchain for business – across the region

Kuala Lumpur, 19 April 2018 – Venaco Group, a global enterprise transformation services organisation specialising in SAP and innovative IT technologies, and Cheng & Co, a leading South East Asian accounting and outsourcing services organisation, are pleased to announce their strategic partnership for B2B business and IT projects.

Under the agreement, Venaco Group will collaborate with Cheng & Co to provide strategic business consulting and transformation services to Cheng & Co in order to enhance and expand services provided to its regional clientele. Both parties also mutually agreed to explore blockchain technology further to accelerate business growth and opportunities, through the adoption of SophiaTX, Venaco Group’s blockchain for business solution, which is poised to launch this July 2018.

“We’re excited to team up with Cheng & Co as our Asia partner on IT consulting and innovation technology as we believe it will extend our presence and open new doors to opportunities in the market,” said Marian Hires, Managing Partner of Venaco Group and Co-founder of Equidato Technologies.

"We share a common goal to address the rapidly changing business and operations needs of our B2B customers. By combining Cheng & Co’s accounting and outsourcing expertise with our skills and industry know-how in ERP, we enable ourselves to deliver a fully-fledged and comprehensive service to customers in this space," said Mr. Hires.

Venaco Group provides independent SAP advisory, implementation and innovation services globally. It has proven capabilities for complex SAP programs in variety of assignments including global transformations and roll-outs, lean implementations, recovery and turnaround situations, mergers, restructurings, carve-outs, lean operations and support.

With key integrations established, it is crucial for the company's executive team to have personnel and resources who could focus specifically on channel growth. The team engaged Cheng & Co to help expand partner engagement in SAP solutions, primarily running on SAP HANA platform.

"Digital transformation is promising to deliver value to enterprises of all sizes. As businesses expand and grow, it is imperative for businesses to evolve and adapt to technology advances in order to keep pace with the changing global business landscape,” said Tom Wong, Chief Executive Officer of Cheng & Co.

“We have found a great partner in Venaco Group and we believe that by integrating our solutions with its innovative technology, we can create an even more compelling end-to-end value proposition for our clients,” added Wong.

Both companies look forward to this mutually beneficial partnership and the growth it will create.

Further information about SophiaTX is available at https://www.sophiatx.com/