No Result
View All Result
  • Login
  • Register
Business & Technology
SUBSCRIBE
  • .
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
  • .
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
No Result
View All Result
Biztech Asia
Home News

Malaysian SMEs need to take the digital leap

by editorial
11/11/20
in News
2 min read
0
Malaysian SMEs need to take the digital leap

The Malaysia Digital Economy Corporation (MDEC) calls on all Malaysian small and medium-sized enterprises (SMEs) to boost their digital transformation to the next level with the SME Digital Accelerator programme.

The programme aims to provide participating SMEs a structured, step-by-step approach to embrace digitalisation and help them solve their business pain-points in today’s increasingly disruptive technology-driven economy. Hence, they will become more competitive, reduce business operation costs, improve operational efficiencies, and increase overall revenues.

Malaysia’s SMEs are the backbone of the national economy. As of June 2020, the sector contributed 40% to Malaysia’s Gross Domestic Product (GDP) and employed over half of the country’s workforce. Due to their pivotal role, the effective digitalisation of Malaysia’s SMEs could add some USD24 billion the country’s economy by 2024.

In a statement, Surina Shukri, CEO of MDEC said, going digital is the need of the hour for Malaysia’s SMEs, as they now must accelerate their transformation to remain competitive in today’s environment and to tap into new opportunities in the next normal.

“Through the SME Digital Accelerator, we offer SMEs a structured approach to implement the right digital solutions that can help transform their business in terms of their people, processes and – above all – mindset. Through the programme, we hope to further catalyse the digital transformation of our enterprise sector to sustainably benefit from the shared prosperity which our economy is moving towards,” Surina said.

In a SME Digitalisation Survey conducted by MDEC with its state partners earlier this year, it was found that over 90 per cent of the SMEs surveyed are conscious that digital solutions can increase productivity, generate more sales and improve process efficiency, all of which could lead to reductions in operational cost.

However, many respondents also found digital adoption challenging; 60% stated they find it too costly to invest in and maintain digital solutions, while just over 40% cited having no knowledge and skills in digital tools
as a hindrance.

The three-month programme will be conducted in five phases – comprising the identification of pain-points or opportunities for SMEs in the digital space in relation to their businesses, implementation of suitable digital solutions, achievement of adoption benefits based on before and after results as well as tracking and monitoring the SMEs progress for impact assessment.

“Today, many SMEs want to go digital but have challenges, such as the lack of knowledge and skills to use digital tools. More so, the high costs involved. With the support of our partners who can provide easy access to our local various digitalisation ecosystems and processes, the SME Digital Accelerator will provide a step-by-step approach to ensure effective digitalisation of our SMEs with tangible results – especially as we have seen SMEs increasing their productivity by 30% after having adopted a structured approach towards their digital transformation,” added Muhundhan Kamarapullai, Director, Business Digital Adoption, MDEC.

The SME Digital Accelerator is one of the latest efforts under MDEC’s ongoing 100 Go Digital initiative. Launched in 2019, this platform has enabled smaller and more traditional Malaysian enterprises in key business sectors to digitalise.

Previous Post

Tricor appoints global head of tax

Next Post

Apple makes big shift

editorial

editorial

Related Posts

Mizuho Week Ahead – Policy Course & Recourse
News

Mizuho Week Ahead – Policy Course & Recourse

Mizuho daily – Between outrun & optimism, FOMC: Backseat cruising
News

Mizuho Daily – Respite, Not Resolution

This chart shows how global debt comes in waves – and, right now, we’re in the middle of the biggest one yet
News

Mizuho Insights – The (Output) Gap Between Reflation & Inflation Risks

China’s Moore Threads joins unicorn club 100 days after inception
News

China’s Moore Threads joins unicorn club 100 days after inception

US dollar extends its decline
News

US dollar strengthens

Facebook to invest USD1 billion in Australia’s news industry
News

Facebook to invest USD1 billion in Australia’s news industry

Next Post
Apple makes big shift

Apple makes big shift

More non-Chinese children enroll in Chinese schools

More non-Chinese children enroll in Chinese schools

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Recommended Stories

Six Senses Botanique – Serenity with local features and modern luxuries

Six Senses Botanique – Serenity with local features and modern luxuries

The perverse tyranny of ultra-low rates to productivity

US dollar posts modest gains

Temasek’s NPV fell to SGD306 billion a first in four years

Temasek’s NPV fell to SGD306 billion a first in four years

Popular Stories

  • Economic recovery: an elusive thought?

    Economic recovery: an elusive thought?

    0 shares
    Share 0 Tweet 0
  • Cannibalising your business can be profitable

    0 shares
    Share 0 Tweet 0
  • Sexual fulfillment builds confidence and well-being

    0 shares
    Share 0 Tweet 0
  • Tech Stocks – Ant gets stomped on but REITS offer stability amid volatility

    0 shares
    Share 0 Tweet 0
  • Singapore REITS and China tech stocks – Which should you buy?

    0 shares
    Share 0 Tweet 0

About Us

A Business and Technology digital publication that engages business leaders in business and technology conversations to help everyone pivot, adapt, and thrive in these turbulent times.

LEARN MORE »

Contact Us

Phone: 016-2011 050

Email: editor@biztech.asia

Address:
Level 18, Boutique Office 1 (B01-C)
Menara 2, No. 3, Jalan Bangsar,
KL Eco City, 59200, Kuala Lumpur.

Email Newsletter

Loading

© 2020 Business & Technology - made possible by Milestones Digital.

No Result
View All Result
  • Home
  • Thought Leadership
  • Conversations
  • International Voices
  • News
  • Wealth
  • Digital Transformation
  • Lifestyle
  • Videos
  • Podcasts
  • Login
  • Sign Up

© 2020 Business & Technology - made possible by Milestones Digital.

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
OR

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

will use the information you provide on this form to be in touch with you and to provide updates and marketing.