With the business world evolving at a rapid pace, there's a clear call for smoother operations and less red tape. In response to this, the Malta Business Registry (MBR) teamed up with stakeholders to develop the Business Automation Register Online System (BAROS), demonstrating Malta’s commitment to embracing digital progress.
In a recent interview with Kurt Izzo and Fabrizio Farrugia, from MBR’s ICT team, we delved into BAROS’s key features, the collaborative effort and hurdles behind its development, and the tangible benefits it brings to corporate service providers (CSPs).
At the heart of BAROS is a commitment to improving user experience and simplifying corporate procedures. Kurt Izzo, who spearheads MBR’s ICT department, walks us through the platform’s main digital features. “We've implemented a range of new features to enhance user experience and streamline corporate processes,” Kurt explains. “These include corporate accounts, qualified digital signatures, and online filing for all types of companies.”
Kurt emphasises the significance of corporate accounts, which allow employees to pool funds for necessary document purchases, such as online submissions, name reservations, and company links. "Company links enable users to submit on behalf of their affiliated companies," he clarifies.
Furthermore, the system now supports qualified digital signatures, enabling professionals to digitally sign documents with the same legal validity as traditional ink signatures, in line with European directives. Previously exclusive to Maltese nationals, this feature is now globally accessible, facilitating seamless online transactions and paving the way for a paperless future in the coming years.
Understanding the need for a gradual transition to paperless operations, MBR recognises the importance of clients easing into digital submissions. "We can't expect everyone to switch to paperless overnight, but we're actively digitising processes and promoting digital submission methods," Kurt affirms. This gradual shift allows users to better appreciate the efficiency of online submissions compared to traditional paper-based methods. “Of course, the IT support team is always available to assist both external and internal users as they navigate this digital era,” he notes.
BAROS also accommodates a variety of company types. It has opened the door to streamlined processes for all companies. From private to public entities and partnerships, this platform ensures efficiency across the board.
Echoing Kurt’s views, Fabrizio Farrugia, Software Solutions Architect at MBR, elaborates on how BAROS facilitates business automation in practical terms. "The system enables company officers to effortlessly keep their profile up-to-date" he explains. "Through intuitive prompts and smart forms, users are guided through each step, reducing the chances of errors and omissions." The introduction of intelligent forms, capable of auto-populating data gathered from users, significantly cuts down on manual input and improves accuracy.
Moreover, CSPs can reap substantial benefits from BAROS's features. Fabrizio emphasises the crucial role of corporate accounts in simplifying CSP operations. "Corporate accounts empower CSPs to efficiently manage members' access to the MBR website" he notes. The system's enhanced collaboration features, including shared email confirmations and company links eliminate redundancies and optimise workflows. "Different access levels enable tailored permissions, promoting smooth collaboration within organisations." Fabrizio explains.
"We've seen a remarkable shift in how professionals manage client companies," the Software Solutions Architect observes. "The introduction of corporate accounts and intelligent forms has streamlined processes, lightened administrative loads, and boosted productivity. Since November, when the system began accepting documents, we’ve incorporated 662 companies online and processed over 80,000 documents," he adds.
Blockchain technology forms the backbone of BAROS, ensuring transparency and data integrity. By encrypting company records in an immutable ledger, BAROS guarantees tamper-proof records and shared access among stakeholders. Kurt underscores the significance of blockchain in maintaining data integrity and complying with GDPR regulations. "Transactions are cryptographically linked, preventing alterations or deletions," he details. "Besides, shared ledger access among government authorities facilitates real-time reporting and transparency," Kurt notes.
BAROS's impact goes beyond mere functionality, with a keen focus on enhancing efficiency and agility. Gone are the days of laborious incorporation processes; this new online system has slashed this process to just 24 hours. What was the game-changer? “Well,” Fabrizio explains, “our meticulously designed IT infrastructure guides users and incorporates increased validations during data entry, reducing the need for corrections. This has resulted in fewer back-and-forth exchanges and less documents needing amendments.” Clearly, the system's efficiency has taken a huge leap forward. Fabrizio highlights the progress even further. “In the past, incomplete submissions often led to lengthy exchanges for rectifications. However, BAROS's automated processes have effectively cut down this cumbersome cycle, making operations smoother and approval times faster."
Central to BAROS’s success is the active involvement of stakeholders, with extensive testing and feedback playing a crucial role in its development. “We actively engaged stakeholders through various channels, focusing primarily on accountants, CSPs, and company secretaries.” the Head of ICT elaborates. “Multiple testing sessions, workshops, and seminars allowed the ICT unit to gather valuable insights and maintain constant communication with testers.” This ongoing dialogue ensures an iterative approach, continuously striving to minimise bureaucracy. “It’s important to understand that BAROS isn’t just a one-off development,” Kurt clarifies, “It's a system that will continuously evolve, with the primary goal of reducing bureaucracy as much as possible.”
Overcoming challenges during data migration required careful strategic planning to ensure a seamless transition within a tight timeframe. Transitioning to a cloud environment presented challenges related to data ethics and normalisation of involvement. The limitations of the previous system often led to multiple entries for involvement, requiring thorough validation during migration.
Despite these hurdles, the migration process proceeded smoothly, wrapping up within four days. Kurt tells us that IT personnel kept a close eye on the process around the clock during these four days, alert for any potential issues. Furthermore, multiple testing phases were carried out to ensure the migration's success. "Taking proactive steps to address challenges and gathering feedback from stakeholders was key in ensuring a smooth migration process," he explains.
To acquaint users with the new system and encourage its adoption, comprehensive training, and feedback mechanisms were provided. "Test users experienced a smooth transition to the new system due to their familiarity with the user interface beforehand," Kurt observes. Despite the significant shift from the previous system, which had been in use for approximately 20 years, staff quickly adapted to the new system and were committed to its success.
In hindsight, BAROS not only signifies a pivotal moment in Malta's digital evolution but also the dawn of a new era of support for corporations. Its streamlined processes and enhanced efficiency promise to alleviate burdens and boost productivity, particularly for businesses navigating the complexities of incorporation and regulatory compliance. With features like intelligent forms and qualified digital signatures, BAROS simplifies tasks, reduces errors, and accelerates approval times, empowering users to focus more on strategic initiatives rather than administrative hurdles.
All this represents a significant leap forward in Malta's digitalisation journey, strengthening businesses’ transparency and agility. BAROS has spearheaded a new era of digital efficiency by addressing challenges head-on and continuously gathering feedback. Harmonious collaboration between stakeholders, meticulous testing, and iterative development, have all been instrumental in its success. Ultimately, as Kurt aptly notes, “the system's numerous benefits will become more evident as the industry fully integrates it in day-to-day operations, driving success for corporations in the digital age.”
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