There are 1 Companies in Cambodia
that provide Due Diligence Services!

Cambodia’s Information Technology (IT) sector has a promising future with its talented youth and is poised to become the largest export industry in the country, according to Cambodia High Commissioner to the UK. 

Based on this information, it is also important to mention that the average salary in the IT industry in Cambodia is estimated at around 378 USD/mo, making the country one of the most accessible and competitive in the region in terms of prices. 

Based on a report from the State Bank of Cambodia, the IT industry value is set to grow double in 2020, making a progress from $3,5 bn in 2019 to $7 bn. USD. 

Why working with Cambodian IT companies

Cambodian IT companies and web agencies are in the full development process and promoting their services mainly to foreign clients using the latest technologies. Even though Cambodia is probably the newest player in the IT sector in the region, it revealed it has huge capacities with a number of tech startups and new web agencies that continue to grow. In this way, there are more than 1500 IT companies in Cambodia with 10,000 professionals enrolling in the sector each year. 

What to be aware of when working with CambodianIT companies

The relatively low number of IT companies in Cambodia is motivated by two factors: First, as mentioned previously is that the web agencies based in Cambodia are new in the region and are in full development and promotion process. The second reason is that professionals in the country are focused more on freelancing than entering a corporate environment and developing a digital business system - based on a report from the NY Times. 

Considering both indicators, it should be noted that the Cambodia-based companies don’t have rich experience on the market and thus, a developed-business culture which may be a challenge for potential foreign clients. 

How reliable are IT companies from Cambodia

The young and inexperienced behavior of Cambodia-based IT companies and web agencies is compensated by the high capacity and low prices on the market that they can provide. This makes Cambodia-based companies and web agencies, but as well as freelancers to have a balanced reputation on the global market, making the selection process easier for potential clients. 

How the Cambodian IT Industry relates to the neighboring countries

Cambodia is trying to make its place in the global setup. Perhaps, this is the reason why the country’s freelancers offer rates 30% to 50% less than the ones offered in India.

According to NASSCOM, India’s IT market size is $150 billion while Cambodia’s is just $3.5 billion. While India’s population is seven times higher, their investment in the startups’ ratio is also 30 times greater.

The ratio of the size of the economy is 1:10 while the market size of startups is 1:100.  This can be improved as Cambodia’s startups market can grow up to 5 times

The Global Competitiveness Index and Ease of Doing Business Index of Cambodia show that the country has some giant strides to make. India has 6 big IT companies and every company has at least a $10-billion revenue a year. Google, IBM, and Microsoft have their local office in India, promoting the country’s industry through research and development.

On the other hand, Cambodia has not seen business tycoons venture into the IT industry. Cambodian businessmen love to invest in real estate and gold.

The ICT Industry in Cambodia in 2022

2022 comes with new development opportunities for the Cambodian ICT sector. The country struggles to attract BigTech companies and their investments in the hope to boost the economy and diminish the country-wide poverty issues. Among the measures, Cambodia launched several economic forums in late 2021 that will hopefully get a long-term result for the FinTech sector.

Due diligence services are like thorough investigations that help businesses make informed decisions. They assess risks and opportunities when entering into partnerships, acquisitions, or other critical business transactions.

Many IT companies offer due diligence services, specializing in analyzing technology, data security, and compliance aspects of potential business ventures. Notable IT companies providing due diligence services include Deloitte, KPMG, and Ernst & Young (EY).

Due diligence service providers use a combination of tools and technologies to assess various aspects of a business. These may include data analytics platforms, cybersecurity tools, compliance management software, and financial modeling software. They also leverage document management systems and communication tools for efficient collaboration during due diligence processes.

Due diligence and audit services share similarities in their examination of the financial and operational aspects of a business. However, they differ in scope and purpose. Due diligence is typically conducted before entering into a business transaction to evaluate the potential risks and rewards. In contrast, audit services are often part of ongoing financial reporting and compliance requirements within a business.

Due diligence services are closely related to other advisory and consulting services, including:

• Financial Advisory: Providing financial insights and recommendations.

• Cybersecurity Assessment: Evaluating a company's cybersecurity posture.

• Mergers and Acquisitions (M&A) Consulting: Assisting in the strategic aspects of M&A transactions.

• Compliance Consulting: Ensuring adherence to industry regulations and standards.

Selecting the best IT company for due diligence services requires evaluating their expertise, industry knowledge, track record, and the comprehensiveness of their due diligence process. Seek providers who can tailor their services to your specific industry and transaction type.

Due diligence service providers are essential for various projects, including:

• Mergers and Acquisitions: Evaluating the financial health and potential risks of target companies.

• Investment Assessments: Analyzing potential investments in startups or new ventures.

• Partnership Agreements: Assessing the suitability and risks of partnering with another organization.

• Regulatory Compliance: Ensuring adherence to data protection and industry-specific regulations.

Conducting due diligence is essential for businesses of all sizes and industries. Some examples include private equity firms, which need to assess potential investments and portfolio companies; startups, which must evaluate the feasibility and risks of new business ventures; large corporations, which conduct due diligence on acquisitions and strategic partnerships; and financial institutions, who ensure compliance and risk management in lending and investments.

The cost of due diligence services can vary significantly based on the scope and complexity of the project. Factors such as the size of the target company, industry regulations, and the depth of analysis required influence the price. In the US, costs can range from a few thousand dollars to millions for complex M&A transactions. UK and Australian costs can be similar but may also vary depending on regional factors and the specific nature of the project. It's advisable to obtain quotes and assess the value provided by service providers before proceeding with due diligence.