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Swiss Blockchain SophiaTX Rolls out Expansion to Asia by Joining Forces with Cheng & Co

Venaco Group, a parent company of SophiaTX / Equidato Technologies AG, and Cheng & Co, a leading South East Asian accounting and outsourcing services organization, are pleased to announce their strategic partnership for B2B business and IT projects.

Both parties mutually agreed to adopt SophiaTX, the enterprise blockchain platform which is bringing innovation to industries by expanding applications like ERP, CRM and others, to explore blockchain technology further to accelerate business growth and opportunities.

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.

“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 AG.

“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,” add 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, primarily in the SAP Business One and SAP HANA ERP channel.

“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,” Wong added.

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

About SophiaTX

SophiaTX is a blockchain platform and marketplace tailored for extending traditional applications like ERP, CRM and many others with robust collaborative and decentralized blockchain capabilities. It is Open Source and contains integration APIs to SAP and other enterprise applications. It is built and delivered by Swiss-based Equidato Technologies AG.

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About Cheng & Co

Cheng & Co is one of Malaysia’s largest home-grown accounting firm. Following the acquisition of more than twenty local firms since 1997, Cheng & Co now has 11 offices across the country with more than 300 people in the firm serving more than 5000 companies. Cheng & Co provides a One-Stop solution to SMEs with services that include Audit, Tax, Goods and Services Tax (GST) advisory, Management Consultancy, Corporate Advisory (IPO and M&A), Internal Audit and Corporate recovery and insolvency.

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