A Transformative Experience
Since the establishment of the MyCO companies’ registry in 2018, Paradigm Applications has been our founding adviser and technical provider. They possess a deep understanding of how a company registry operates. MyCO has consistently benefited from excellent support and cooperation from Paradigm Applications, even prior to the establishment of the MyCO registry. As the registry’s processes have become smooth and streamlined, the continuous support from Paradigm Applications has proven to be invaluable for MyCO.
Myo Min
Director, Company Affairs Division,
Directorate of Investment and Company Administration
The Challenge
Myanmar undertook a reform effort to modernize the outdated Companies Law and subsequently upgrade their Company Registry system. The legacy Myanmar Company Registry was an almost entirely paper-based process. The process required filers to come to the registry’s main office, or one of the regional offices, to submit filings via paper. Formation filings had to be ushered manually through a five-step process by filing parties.
This process often took multiple days to complete. Likewise, orders and certificates were cumbersome to obtain. The legacy registry software system was difficult to work with and required many manual steps to complete tasks. Given that all inputs and outputs were paper-based, the registry office was filled with desks piled high with stacks of paper. The primary goal of the Registry project was to refine the business processes, eliminating manual steps and reducing turnaround time by allowing for online submission and processing of filings.
The Solution
The Paradigm Applications team collaborated with the Myanmar Registry team to implement the PARS registry solution under a compressed timeline of approximately eight months. Business processes were refined to eliminate manual steps and enable entirely online filing and document retrieval. A paper process was retained with front-end scanning so that paper would not need to move through the office. Online filings were incentivized and kiosks were made available to assist in community uptake of the new electronic filing processes. Additionally, the system was optimized for mobile use in order to accommodate a broader base of users. Searches and orders were all made available for processing and fulfillment online.
The Impact
The concerted efforts of Paradigm Applications and the Myanmar Registry team have proven to be highly successful, as evidenced by the remarkable shift in filing methods. An impressive 99.9% of all filings are now seamlessly submitted online, marking a significant leap forward in efficiency and accessibility. Notably, 14% of these submissions are made via mobile devices, showcasing the system’s adaptability to the diverse needs of users.
The implementation of the PARS registry solution within the challenging timeframe of eight months underscores the commitment, expertise, and professionalism of the teams involved. By refining business processes, eliminating manual steps, and incentivizing online filings, the transition has not only streamlined operations, but has also contributed to a more environmentally friendly approach by minimizing paper usage.
