Digital Only Financing Solutions with Add-on Services
Digital Only Financing Solutions with Add-on Services
Business Model Description
Facilitate creation of digital solutions and services that provide access to loans, accounting, billing and payments, especially for the underserved segments of the population. Examples of companies active in this space are:
Boost Capital (Cambodia) Co., Ltd. (Boost), founded in 2018, provides digital microloans through smartphones to small businesses and entrepreneurs, including collateralized and uncollateralized loans ranging from USD 100 to USD 10,000 (14) at an interest rate of 1.4% per month.(3) Its technology interviews customers through a chatbot, credit scores them, and offers loans digitally.
As of 2022, Boost disbursed USD 1.6 mn in loans, and ~80% have been uncollateralized. (15) It also provides financial literacy, using partnerships with Pact and SHE Investments, as well as innovative techniques to empower women and improve financial literacy.(3) It raised: >USD1mn seed-Insitor Partners (IP), SOSV and Loyal VC (LVC) [2021] >USD400,000 Pre-seed-IP and LVC [2019] (16)
BanhJi Pte. Ltd (Banhji), founded in 2013, develops an online accounting software for small and medium-size enterprises (SMEs) to help them use invoicing supported with automated in-depth analysis; manage purchases and expenses claim; integrate with customer, supplier, and accounting modules, analysis of multi-perspective general ledgers; manage financial statements and monthly tax complaints.
Through their transactional data, Banhji facilitates access to finance for the firms using the platform.(8) In 2016, BanhJi raised ~USD 17,878 in seed from Startupbootcamp and Startupbootcamp FinTech Singapore. (17) In 2020, Banhji received an undisclosed amount of investment from Smart Axiata Innovation Fund (SADIF). (18)
Expected Impact
Affordable financial services to enable SMEs to obtain loans and financial management to formalize their businesses and access financial institutions
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
Disclaimer
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Country & Regions
Sector Classification
Financials
71% adults have access to financial services, along with 59% of adults (60% females; 57% males) who have access through formal providers. 29% of adults remain excluded from access to any form of financial services (27% female; 31% males) due to an inability to fulfil the documentation requirements from formal institutions and the mismatch in return expectations of the customers. (1)
National Financial Inclusion Strategy (NFIS 2019-2025)
aims to enhance financial inclusion by increasing access to quality formal financial services, reducing financial exclusion of women by half from 27% to 13%, and increasing usage of formal financial services from 59% to 70% by 2025, as well as improving household welfare and supporting economic growth.(2)
With ~12% of adults (12% males; 13% females) using only informal financial services, women are more likely than men to save and access credit from informal channels or family and friends.(1) Moreover, most MFIs in the country do not offer unsecured loans to small businesses or entrepreneurs. (3)
Although access to formal financial services among Cambodian men and women is almost equal, there is a significant gender gap in loans and savings mobilization. On average, men get larger loans and deposit higher savings amount than women. Women (70%) tend to have more passive saving accounts than men (56%).(4)
The NFIS 2019-2025 provides guidance on the action plans to achieve the vision of the Royal Government of Cambodia in enhancing financial inclusion in Cambodia as stated in the Financial Sector Development Strategy 2016-2025.(2)
Financial sector is characterized by high dollarization, foreign ownership and concentration. Access to finance in Cambodia is characterized by high interest rates and the need for collaterals. Limited development of financial markets prevents investors to divest /exit their investments through an IPO.
Corporate and Retail Banking
SMEs account for 99% of total enterprises, and 66% enterprises state that access to finance is a challenge, specifically for funding working capital requirements. Lack of collateral restricts financial access for both men and women-owned business. Other challenges include, high interest rate, information asymmetries and absence or limited financial products tailored to women.(4)
SME Development Framework 2006
aims to create a conducive business environment and make SMEs more competitive. It also aims to strengthen the role of banking sector to mobilize domestic financing, prepare policies and mechanisms to expand financial services coverage, and the principle of financial consumer protection to promote people’s living standard and economic development. (5)
Covid-19 adversely affected the social and economic growth in the past two years, specifically for SMEs and the banking system (banks’ assets, revenue, and growth).(6) 65% of all small and medium-sized businesses in the country were owned by women. 59% of women-owned businesses were affected by Covid-19, and 17% of the these were shutdown. (7)
As very few small businesses in Cambodia use accountants (due to unaffordability of skilled accountants and the willingness to pay for them vs. to the sales team), they cannot provide detailed financial records, which prevents them from accessing credit from financial institutions or getting more investors. <5% SMEs have proper financial reporting, which is a prime hindrance in obtaining loans.(8)
79% of total population and 91% of low-income population resides in rural areas. (9) Rural areas disproportionally suffer from lack of access to finance and are underserved by financial institutions. Moreover, due to low internet penetration rate (78.8% of population in 2020) (10), especially in rural areas, adoption of technology based financial solutions is restricted.
Digital financial services offer a big opportunity for the unbanked segment, with limited access to financial services, thereby filling the funding gap. Cambodia has 70% unbanked population (11), 21.24 mn mobile connections (as of 2020) (12), and 8.6 mn e-wallet users (as of 2021) providing ample opportunities for digital financial service providers to achieve impact and commercial viability (13).
SMEs often lack the structuration needed to produce documents needed for loan applications, resulting in business owners resorting to personal loans carrying less preferential terms and conditions. Even though, multiple players exist in this sector, only some can continue to offer value to members by offering innovative products.
Consumer Finance
Pipeline Opportunity
Digital Only Financing Solutions with Add-on Services
Facilitate creation of digital solutions and services that provide access to loans, accounting, billing and payments, especially for the underserved segments of the population. Examples of companies active in this space are:
Boost Capital (Cambodia) Co., Ltd. (Boost), founded in 2018, provides digital microloans through smartphones to small businesses and entrepreneurs, including collateralized and uncollateralized loans ranging from USD 100 to USD 10,000 (14) at an interest rate of 1.4% per month.(3) Its technology interviews customers through a chatbot, credit scores them, and offers loans digitally.
As of 2022, Boost disbursed USD 1.6 mn in loans, and ~80% have been uncollateralized. (15) It also provides financial literacy, using partnerships with Pact and SHE Investments, as well as innovative techniques to empower women and improve financial literacy.(3) It raised: >USD1mn seed-Insitor Partners (IP), SOSV and Loyal VC (LVC) [2021] >USD400,000 Pre-seed-IP and LVC [2019] (16)
BanhJi Pte. Ltd (Banhji), founded in 2013, develops an online accounting software for small and medium-size enterprises (SMEs) to help them use invoicing supported with automated in-depth analysis; manage purchases and expenses claim; integrate with customer, supplier, and accounting modules, analysis of multi-perspective general ledgers; manage financial statements and monthly tax complaints.
Through their transactional data, Banhji facilitates access to finance for the firms using the platform.(8) In 2016, BanhJi raised ~USD 17,878 in seed from Startupbootcamp and Startupbootcamp FinTech Singapore. (17) In 2020, Banhji received an undisclosed amount of investment from Smart Axiata Innovation Fund (SADIF). (18)
Business Case
Market Size and Environment
> USD 1 billion
15% - 20%
Unbanked population-70%(11) Mobile connections-21.24 mn (2020) (12) E-wallet users (2021)-8.6mn (13)
As of 2020, Cambodia had 2.8 mn loans for 3.6 mn households, totaling USD 11.8 bn, with an average microloan size of USD 4,280, higher than the annual income of 95% of Cambodian households.(15)
FinTech’s largest segment is digital payments with a total transaction value of USD 4,045 mn in 2022. Average transaction value per user in the alternative lending segment is projected to amount to USD 11,180 in 2022. In the Digital Payments segment, the number of users is expected to go up to 8.29 mn users by 2026. (20)
In 2021, USAID-funded, Pact Cambodia-implemented Women Entrepreneurs Act (WE Act), Wing Bank (Cambodia) Plc and Boost partnered to provide affordable financial services and products to underserved young women entrepreneurs (YWE) in Cambodia, thereby increasing access to finance.(21)
Indicative Return
> 25%
As per experts, FinTech companies offer high returns during the growth phase of their operations. Due to an underdeveloped capital market, exit through an IPO is quite unlikely in Cambodia. Investors can divest their stake by selling it to other strategic investors.
Banjhi reported a post-money valuation of USD 1 mn in 2018, and expects to increase it substantially to reach ~USD 30 mn by 2025. The company is operating with high gross margins. BanhJi's estimated annual revenue is ~USD 1.2 mn. (22)
As of 2022, Boost disbursed USD 1.6 mn in loans, and ~80% have been uncollateralized. (15)
Investment Timeframe
Short Term (0–5 years)
Banhji, which was incorporated in 2013, projected (in 2016) to become profitable in 2018.(8) Boost, started in 2018, has already disbursed USD 1.6 mn in loans as of 2022. (15)
In 2016, BanhJi raised ~USD 17,878 in seed from Startupbootcamp and Startupbootcamp FinTech Singapore. (17) In 2020, Banhji received an undisclosed amount of investment from Smart Axiata Innovation Fund (SADIF). (18) Boost raised USD 1 mn in seed from IP, SOSV and LVC in 2021 and USD 400,000 in pre-seed from IP and LVC in 2019. (16)
Ticket Size
USD 500,000 - USD 1 million
Market Risks & Scale Obstacles
Business - Supply Chain Constraints
Market - High Level of Competition
Impact Case
Sustainable Development Need
Enhancement in access to financial services by promoting SMEs will strengthen the resilience of the financial sector. SMEs contributed 58% to GDP in 2018 (24), and are a key factor for both, industrial sector growth and attaining the upper-middle-income status by 2030 and high-income by 2050.(25)
Accessibility is a key financial barrier as 29% of adults are excluded from access to financial services (1), and 52% of the population still takes >30 minutes to reach the nearest formal financial service providers.(26)
FinTech solutions enable shorter turnaround time with the use automated credit scoring models. With the use of machine learning, it is easier to analyze more data-points, and provide an accurate credit score, thereby increasing the reliability of the system. (15)
Gender & Marginalisation
Process of obtaining loans for women who own 65% of SMEs in Cambodia must be promoted and simplied.(7) Boost focuses on lending to female entrepreneurs-75% loans are disbursed to female-led enterprises, 30% customers are first-time borrowers, and 45% have a limited credit history.(3)
Covid-19 has severely impacted young women entrepreneurs with SMEs who do not meet the eligibility criteria set by formal financial service providers. Financial assistance must be offered to such entrepreneurs who would otherwise be neglected, helping them focus on growing their business.(21)
Financial inclusion measures can help vulnerable population prone to be excluded from formal financial services. Informal workers (49%) and smallholder farmers (44%) resort to informal financial services, compared to 25% of formally employed adults. (23)
Expected Development Outcome
Support the development of MSMEs by providing digital solutions to improve their financial management, bookkeeping and access to credit.
Reduce cost for financing companies by minimising human resources to process and vet loan applicions.(3) Boost found that by eliminating the cost of branches and in-person staff, their loans were 20% cheaper than those of traditional MFIs. Their process also saves applicants 5-7 days. (15)
Promote digital payments to meet customers’ requirements, especially SMEs. Due to Covid-19, payment services grew with the shift from cash to digital payments. There are 8.6 mn customers and >40,000 agents as of 2021. (1)
Gender & Marginalisation
Empower women by providing easy access to microfinance to enable them to run their businesses, and microinsurance to enable them to withstand economic shocks, smoothening their consumption during turbulent times.
Simplify lending process to enable people with lack of financial knowledge to use digital platforms for their financing needs. Boost Capital offers a user-friendly loan application process, accessible to those with low literacy levels.
Reduce disparities and promote improvement in Cambodia's GDP through increase in income level of the population. Entrepreneur with more disposable income, tend to spend that income in their local community, thereby contributing to development of the regions. (3)
Primary SDGs addressed
1.2.1 Proportion of population living below the national poverty line, by sex and age
17.8% in 2020 (27)
6% in 2030 (29)
6.1.1 Proportion of population using safely managed drinking water services
Proportion of Cambodian population with access to safely managed and clean water supply services in 2015 was 83.5% in urban areas and 16% in rural areas (28)
Proportion of Cambodian population with access to safely managed and clean water supply services in 2030 will be 100% in urban areas and 50% in rural areas (29)
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Outcome Risks
Fintech is a relatively new domain with nascent regulations and standards, limited data to evaluate risk and lack of human resources.(12)
Due to limited financial literacy, communication problems or a general lack of understanding about the terms of the loan may exist between borrowers and lenders, hampering the borrowing process. (15)
Even though, FinTech may help process requests faster, reduce errors and reduce the cost of reporting compared to manual work, it may not guarantee correct reporting or a customized insight into MSME business therefore requiring human intervention. (8)
As users take a significant amount of time to develop skills and experience in using any given software, it is unlikely that QuickBooks will see a shift in its market share.(8)
Marginalization risk: Considerable investment required for educating SMEs, particularly from low resource settings on the benefits of preparing themselves for borrowing from formal lenders.
Impact Risks
While the model is proven with youth in urban areas, financial literacy and external factors (limited connectivity and digital literacy) might limit the efficacy of service in more remote areas.
Cambodia has one of the most overindebted microloan sectors, with average loan size several times larger than annual incomes. Many people are in a debt-trap, using new loans to repay old ones.(15)
By attempting to reduce human resource costs through automated processes, growth of FinTech companies may cause an increase in unemployment rate in Cambodia.(3)
SMEs stand to be indebted in the absence of any tangible documentation (enterprise records) or governance structure that can help FIs assess their creditworthiness. This will impact lender portfolios.
Support in terms of capacity building and the presence of adequate support infrastructure (banks, digital-infra, MFI branches, grievance redressal system) will be required along with access to finance.
Impact Classification
What
Digital finance solutions providing access to finance and related management services for SMEs that are not served by the traditional channels
Risk
Due to limited financial literacy, communication problems or a general lack of understanding about the terms of the loan may hamper the borrowing process. (15)
Contribution
In 2021, WE Act, Wing Bank (Cambodia) Plc and Boost partnered to offer affordable financial services to underserved young women entrepreneurs, thereby increasing access to finance.(21)
Impact Thesis
Affordable financial services to enable SMEs to obtain loans and financial management to formalize their businesses and access financial institutions
Enabling Environment
Policy Environment
National Financial Inclusion Strategy 2019-2025: provides guidance on the action plans to achieve the vision of the RGC in enhancing financial inclusion in Cambodia. (23)
Financial Sector Development Strategy 2016-2025: RGC may consider offering incentives to attract market players, especially foreign institutions that could help introduce the required technology to facilitate money market development. (31)
Cambodia Industrial Development Policy 2015 – 2025: includes a section related to expansion and modernization of MSMEs (32)
Digital Economy and Society Framework 2021-2035: The Government will focus on building digital infrastructure on three aspects: digital connectivity, FinTech infrastructure and digital payment systems, and logistics and last-mile delivery.
Financial Environment
Recovery Plan 2020-2023: Agricultural and Rural Development Bank (ARDB) and the SME Bank are providing loans to local enterprises at interest rates of between 5% to 5.5% per annum, and pilot project on grant matching providing 40% of additional investment capitals to construct green/net houses.
Fiscal incentives: Sub-Decree No. 124 ANKr.BK, effective from 2 October 2018, aims at incentivizing the SMEs in six priority sectors, ranging from agro-agricultural products to IT services (36)
Other incentive: Prakas No. 159 dated 17 February 2020 setting out guidance, conditions and procedures to request the tax incentive (37)
Regulatory Environment
Law on Banking and Financial Institution (1999): The purpose of this law is to institutionalize the Banking and Financial Institutions and to define its framework, responsibilities and obligations. (33)
Law on Financial Leasing (2005): The objective of the present law is to develop banking and financial system and enterprises in order to carry out equal, safe, effective, and productive financial lease operations in accordance with the evolution of the economy of Cambodia. (34)
Law on Negotiable Instruments and Payment Transaction (2005): In carrying out any part of a payment transaction, a bank may employ a third-party processor. As authorized by the bank, a third–party processor may act on behalf of the authorizing bank (35)
National Bank of Cambodia (NBC) and Ministry of Economy and Finance (MEF) ensure consumer protection across every aspect of the value chain, supervise financial institutions and service providers for regulatory requirements, and maintain integrity and confidence of the financial Sector.(12)
Marketplace Participants
Private Sector
Corporates: Boost Capital (Cambodia) Co., Ltd., BanhJi Pte. Ltd, Wing, Pi Pay, Delightech, ABA Bank Investors: Insitor Partners, SOSV, Loyal VC, Genuine Interest
Government
SME Bank, Ministry of Economy and Finance (MEF), Ministry of Industry, Science, Technology and Innovation (MISTI) is in charge of policy implementation for SMEs, Ministry of Commerce, National Bank of Cambodia (NBC)
Multilaterals
United Nations Economic and Social Commission for Asia and the Pacific, United Nations Development Programme, World Bank, Asian Development Bank, United Nations Capital Development Fund
Non-Profit
Cambodian Association of Finance and Technology, Cambodia Academy of Digital Technology, Cambodia Internet Start-up Association, National Incubation Centre of Cambodia, Techo Start-up Centre
Public-Private Partnership
Cambodian Association and Finance and Technology (CAFT) with the Ministry of Post and Telecommunications (MPTC)
Target Locations
Cambodia: Phnom Penh
Cambodia: Kandal
References
- (1) UNCDF. (2017). Cambodia Financial Inclusion Country Report 2017. https://finmark.org.za/system/documents/files/000/000/223/original/Cambodia_Synthesis-Note_28-September-2017.pdf?1601985666#:~:text=Cambodia%20has%20a%20moderate%20level,financial%20services%20through%20formal%20providers
- (2) Measuring Progress: Financial Inclusion in selected ASEAN countries, 2020 (UNCDF)
- (3) Badzmierowski, B. (2022). Investing for a Purpose in Cambodia: Sevea and Boost Capital. https://cambodiainvestmentreview.com/2022/03/15/investing-for-a-purpose-in-cambodia-sevea-and-boost-capital/
- (4) BD Trust. (2019). Financial Access for MSMEs. https://www.unescap.org/sites/default/files/Session%205%20Financial%20Access%20for%20MSMEs.pdf
- (5) Kwanchainond, K. (2010). Small and Medium Enterprises Development Policies in Cambodia. https://www.asean.org/wp-content/uploads/images/archive/documents/SME%20Development%20Policies%20in%204%20ASEAN%20Countries%20-%20Cambodia.pdf
- (6) Sok, S. (2022). 70 Percent of Cambodians Have Access to Financial Services. Khmer Times. https://www.khmertimeskh.com/501052053/70-percent-of-cambodians-have-access-to-financial-services/#:~:text=About%2070%20percent%20of%20Cambodians,Bank%20of%20Cambodia%20(NBC)
- (7) Seng, S. (2020). How Small Businesses Have Coped with the Impact of COVID-19. http://www.cweacambodia.org/en/news-update/227/how-small-businesses-have-coped-with-the-impact-of-covid-19
- (8) Gaudemar, M. (2016). Accounting Platform Seeks Fund. Phnom Penh Post. https://www.phnompenhpost.com/business/accounting-platform-seeks-funds
- (9) Ministry of Health. (2016). Health Strategic Plan 2016-2020. http://hismohcambodia.org/public/fileupload/carousel/HSP3-(2016-2020).pdf
- (10) World Bank. (2017). Individuals Using the Internet (% of Population)--Cambodia. https://data.worldbank.org/indicator/IT.NET.USER.ZS?end=2020&locations=KH&start=2000&view=chart
- (11) Sangeetha, A. (2021). Is Cambodia's Microfinance Sector Running its Course? https://www.phnompenhpost.com/special-reports/cambodias-microfinance-sector-running-its-course
- (12) UNIDO. (2021). FinTech Cambodia. http://unidoseoul.org/en/?p=6638&ckattempt=1
- (13) Sok, S. (2022). 70 Percent of Cambodians Have Access to Financial Services. Khmer Times. https://www.khmertimeskh.com/501052053/70-percent-of-cambodians-have-access-to-financial-services/#:~:text=About%2070%20percent%20of%20Cambodians,Bank%20of%20Cambodia%20(NBC)
- (14) Boost Capital. (n.a.) Boost Capital: Enabling Digital Micro-Loans. https://www.boostkh.com/
- (15) Kan, V. & Duncan, D. (2022). Digital Lending Shakes Up Cambodia's Over-indebted Banking Sector. https://www.voacambodia.com/a/6435615.html#:~:text=As%20of%20December%202020%2C%20a,of%2095%25%20of%20Cambodian%20households.
- (16) Crunch Base. (2022). Boost Capital. https://www.crunchbase.com/organization/boost-capital-db96
- (17) Crunch Base. (2022). Banh Ji. https://www.crunchbase.com/organization/banhji
- (18) May, K. (2020). Smart Axiata Digital Innovation Fund Invests in Local Banh Ji, Thai-Based DRVE. https://www.phnompenhpost.com/business/smart-axiata-digital-innovation-fund-invests-local-banhji-thai-based-drvr
- (19) Statistica. (2022). Digital Payment. https://www.statista.com/outlook/dmo/fintech/digital-payments/cambodia
- (20) Statistica. (2022). Digital Payment. https://www.statista.com/outlook/dmo/fintech/digital-payments/cambodia
- (21) May, K. (2021). Affordable Finance Set for Women. https://www.phnompenhpost.com/business/affordable-finance-set-women
- (22) GrowJo. (2022). BanhJi Revenues and Competitors. https://growjo.com/company/BanhJi
- (23) Ibid.
- (24) Thy, S. (2021). Roles of SMEs in Cambodian Economic Development and Their Challenges. https://www.nbc.org.kh/download_files/macro_conference/english/Roles_of_SMEs_in_Cambodian_Economic_Development_and_Their_Challenges.pdf
- (25) Hin, P. (2019). Ministry: SMEs Vital to Economy, but 95% not Registered. https://www.phnompenhpost.com/business/ministry-smes-vital-economy-95-not-registered
- (26) UNESCAP. (2020). Landscape Study of Inclusive Business in Cambodia. https://www.unescap.org/sites/default/d8files/knowledge-products/Landscape%20Study%20Inclusive%20Business%20Cambodia%20ESCAP%20iBAN%202021%20REPORT%20Final.pdf
- (27) MOP 2021
- (28) Royal Government of Cambodia. (2019). Cambodia's Voluntary National Review 2019 on the Implementation of the 2030 Agenda for Sustainable Development. https://sustainabledevelopment.un.org/content/documents/23603Cambodia_VNR_SDPM_Approved.pdf
- (29) Royal Government of Cambodia. (2018). Cambodian. Sustainable Development Goals (CSDGs) Framework (2016-2030). https://data.opendevelopmentmekong.net/dataset/3aacd312-3b1e-429c-ac1e-33b90949607d/resource/d340c835-e705-40a4-8fb3-66f957670072/download/csdg_framework_2016-2030_english_last_final-1.pdf
- (30) SME Bank. (2022). The Total Budget of SME Co-Financing Scheme II Increased to USD 240 Million. https://smebankcambodia.com.kh/2022/02/25/scfsii/
- (31) National Bank of Cambodia. (2017). Financial Sector Development Strategy 2016-2025. https://www.nbc.org.kh/english/publications/blueprints.php
- (32) Royal Government of Cambodia. (2015). Cambodia Industrial Development Policy. https://www.eurocham-cambodia.org/uploads/97dae-idp_19may15_com_official.pdf
- (33) Royal Government of Cambodia. (1999). Law on Banking and Financial Institutions. https://www.nbc.org.kh/download_files/legislation/laws_eng/86004-Law-on-Banking-and-Financial-Institutions-1999.pdf
- (34) Royal Government of Cambodia. (2008). Law on Financial Lease. http://www.cambodiainvestment.gov.kh/en/law-on-financial-lease_090620.html
- (35) National Bank of Cambodia. (2015). Laws Applicable to Banks and Financial institutions. https://www.nbc.org.kh/english/legislation/laws_applicable_to_banks_and_financial_institutions.php
- (36) Open Development Cambodia. (2020). Sub-Decree No. 124 on the Tax Incentives for Qualifying SMEs Operating in Defined Priority Sectors. https://data.opendevelopmentcambodia.net/laws_record/sub-decree-no-124-on-the-tax-incentives-for-qualifying-smes-operating-in-defined-priority-sectors
- (37) Open Development Cambodia. (2020). Prakas No. 159 on the Instruction on Implementation of Tax Incentives for Small and Medium Enterprises. https://data.opendevelopmentcambodia.net/en/dataset/prakas-no-159-on-the-instruction-on-implementation-of-tax-incentives-for-small-and-medium-enterpris