Despite the many services offered by various banks in the Philippines, traditional pawnshops are still alive and well in the country. A majority of Filipinos, even in this digital world, still consider pawnbroking as the most common and easiest way to scare up some money whenever something unexpected occurred. Given this continuous demand for the service, pawnshop owners are encouraged to keep up with the ever-changing digital landscapes so they can operate efficiently and do more for their customers in the future.
Along with Globe myBusiness, the micro, small, and medium-enterprise arm of Globe Telecom, the Chamber of Pawnbrokers of the Philippines, Inc. (CPPI) held its annual mid-year conference last May 25, 2019 at Apo View Hotel in Davao City. CPPI is the first and only organization to serve and to represent the best interests of the firms and individuals involved in the aspects of the pawnbroking industry.
The conference was attended by pawnshop owners and decision-makers alike.
Atty. Pablo Magno, who serves as Legal Counsel/Assistant Corp. Secretary of CPPI, added that the organization is indeed the voice of the pawnbroking industry: “It is considered as the voice of the pawnbroking industry–meaning to say, they represent the majority of the pawnshops of the Philippines and this is the only organization that the Central Bank of the Philippines recognizes as the official representative of the pawnbroking industry.”
The voice of pawnbrokers
In terms of improving and growing the business, it’s important to be updated on the regulations and new technologies that can be adapted into the operations. Although the law doesn’t require pawnshops owners to be members of CPPI, Atty. Magno mentioned that a membership to the organization has its own advantages, including access to relevant seminars and industry information.
Atty. Pablo Magno mentions that a membership to the organization has its own advantages, including access to relevant seminars and industry information.
This mid-year conference was about the key elements of creating a robust business environment. Prof. Celso Noel D. Aban, the chairperson of the Entrepreneurship Department–College of Business Administration at the University of Santo Tomas, officially opened the floor for discussion on the nature of industry forces for pawnshops. Followed by Dindo Santos, director of Bangko Sentral ng Pilipinas’s (BSP) Integrated Supervision Department, speaking on the new rules and regulations involving the pawnshop industry. Joel L. Tan-Torres of Reyes Tacandong & Co. was also in attendance, speaking on the rules and regulations of tax amnesty and providing guidelines for the processing of tax delinquencies.
Embrace digital transformation
For a business to thrive, especially in a competitive market, it needs to explore other relevant solutions and keep pace with the constant digital transformation. Today, more traditional businesses have gone digital–making communication and even transactions easier, faster, and simpler. And through the help of Globe myBusiness, switching from traditional to digital will be seamless and worry-free.
Trustwave Holdings’ Senior Cyber Security Manager Marlon Umali provides attendees basic knowledge of cybersecurity.
Trustwave Holdings’ Senior Cyber Security Manager Marlon Umali introduced attendees to security solutions like cybersecurity and what they can do to fight cybercrime and protect their businesses from security risks. Meanwhile, Globe myBusiness’s Digital Marketing Manager Faith Salazar talked about how business owners can approach their customers by applying the basic principles of social media marketing.
For Atty. Magno, this digital journey with Globe Telecom will be of big help in terms of a more efficient operation and management, “So ‘yung entry ng Globe, we are very thankful because they are offering services, products that could make the operation of the pawnshop more effective, simpler, and it’s very helpful because it adds value and convenience for you to operate the business.” INQUIRER.net BrandRoom/TV
To know more about how Globe myBusiness can help, visit mybusiness.globe.com.ph.