#Japan #Tokyo #BPaaS #Smart Round #Corporate Secretary

Smart Round’s Strategic Shift in BPaaS Services

In a significant move, Smart Round, headquartered in Chiyoda, Tokyo, led by CEO Dai Sugawa, has decided to concentrate its BPaaS (Business Process as a Service) offerings specifically on Corporate Secretary Services. This shift follows a thorough evaluation of their BPaaS business, which was launched in March of this year. Effective July 23, 2023, they will discontinue services in accounting and labor management and will actively seek partnerships with other BPO/BPaaS providers in those areas.

Background Behind the Focused BPaaS Approach

Smart Round initially aimed to support startups with a one-stop service encompassing “Accounting,” “Labor Management,” and “Corporate Secretary” functions. However, the company concluded that providing accounting and labor services did not align with its unique strengths due to a saturated market with numerous competent competitors already offering high-quality services.

Challenges Faced

The company identified two primary reasons for this decision:
1. Difficulty in Differentiation: Accounting and labor management tasks are already serviced by many excellent BPO/BPaaS providers in the industry, making it challenging for Smart Round to carve out a niche without a specialized SaaS product tailored for startups.
2. Scarcity of Specialized Talent: Skills that cut across accounting, labor management, and corporate secretary roles are rare and highly sought after, making it counterproductive for Smart Round to recruit such talent, as it contradicts their mission of empowering startups.

Focus on Corporate Secretary Services

In light of these considerations, Smart Round is pivoting to leverage its expertise in corporate operations unique to startups. Since the beginning of the BPaaS initiative, the company has provided valuable support in areas such as:

• - J-KISS conversion practical assistance
• - Issuance of equity and stock acquisition rights
• - Preparation of corporate resolutions, contracts, and registration application documents related to equity issuance

Positive Feedback from Startups

Startups that collaborated with Smart Round have provided testimonials showcasing their satisfaction:

• - Anti-Pattern, Inc.: "Thanks to Smart Round, we successfully navigated a tight schedule for J-KISS conversion and new stock issuance without a hitch. Their comprehensive support streamlined our processes, alleviating both psychological and physical burdens. We look forward to their continued partnership as we grow."
• - ANSeeN, Inc.: "Smart Round facilitated the simultaneous hosting of our regular and multiple series shareholders' meetings while managing complex resolutions, simplifying our internal processes to less than half the workload required. We expect their professional support as we strengthen our governance in anticipation of an IPO."

Smart Round is committed to supporting a variety of corporate secretary functions, including:

• - Fundraising (J-KISS, preferred stock, etc.)
• - Issuing and managing stock options
• - Organizing board meetings and shareholders' assemblies
• - Preparing registration application documents in collaboration with judicial scriveners
• - Undertaking capital policy practices such as capital reductions and stock splits
• - Reporting duties for investors

Companies interested in corporate secretary services are encouraged to reach out for more information and download useful resources.

Seeking Partners in Accounting and Labor Services

Moving forward, Smart Round is looking for BPO/BPaaS service providers specializing in accounting and labor management to collaborate effectively in supporting startups. They are particularly interested in meeting organizations that offer services such as:

Accounting Services:

• - Monthly and annual closing
• - Issuing invoices
• - Record-keeping support
• - Expense reimbursement processing

Labor Services:

• - Managing employee onboarding and offboarding
• - Contract creation
• - Payroll management
• - Handling social insurance procedures

Insights from CEO Dai Sugawa

Since the announcement of the BPaaS business in March, Smart Round has received significant anticipation from startups and their support systems. However, during this journey, the company has revisited its core strengths and how it can best contribute to Japanese startups, leading to the decision to specialize in Corporate Secretary Services.

Dai Sugawa emphasizes, “Each process, from fundraising to issuing stock options that impacts a company's future, requires a precise execution grounded in quality corporate secretary services. It is our mission to navigate startups through this intricate landscape in collaboration with legal professionals.”

Simultaneously, he acknowledges that effective corporate secretary services are rooted in quality accounting and labor services. Therefore, Smart Round seeks to establish collaborative relationships with BPO/BPaaS providers specializing in these areas. Interested organizations are encouraged to get in touch.

For further insights, Smart Round has published a candid note detailing the rationale behind this decision. Those interested are welcome to check it out.

About Smart Round

Company Name: Smart Round, Inc.
Location: 1-6-5 Marunouchi, Chiyoda, Tokyo, 9F Marunouchi North Exit Building
Established: May 30, 2018
CEO: Dai Sugawa
Corporate Website: Smart Round Official Site
Careers: Smart Round Jobs

Media Inquiries

For inquiries, please contact Smart Round's PR team at [email protected]