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Maybank steps up SME digital transformation in Malaysia

AvantiKumar | June 19, 2017
Following an expanded industry partnership, Maybank has launched a cloud-delivered payment solutions service for business customers.

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  Following an expanded industry partnership, Maybank has stepped up its small and medium enterprise (SME) digital transformation drive in Malaysia with a cloud-delivered payment solutions service

During the recent announcement in Kuala Lumpur, Datuk Hamirullah Boorhan, head of Community Financial Services (CFS) Maybank Malaysia, said, "Business technology should be as simple and enjoyable to use as the technology we use in our everyday lives."
On the partnership with software company Sage, Hamirullah said:  "Our expanded partnership with Sage allows Maybank to offer business owners in Malaysia the solutions needed to succeed, all under one roof."

Under the expanded partnership, Maybank has joined the Sage Partner Program. This will allow Maybank to provide SME customers with access to Sage One, a cloud based accounting solution.

How this helps

How will this help SMEs in a tough business environment?  Hamirullah said SME customers will now be able to access online accounts via smart phone or mobile devices anywhere, and at any time.

He said that with this GST-compliant subscription-based cloud accounting, customers do not need to purchase costly accounting software, or worry about software installations, updates and training, manage data security and data loss as well as prepare for disaster recovery, thus giving them more time to focus on their business.

"This greatly improves efficiency in businesses' payment processes and drives changes in payment procedures, in line with Bank Negara's Financial Sector blueprint," Hamirullah said, adding that Maybank has increased the normal 30-day free trial to a 90-day trial for its business customers.

The move is part of digital transformation (DX) and the general changes across industries as noted by IDC Malaysia (see - This is how Malaysia's ICT industry will transform in the next three years: IDC).

Since the start of its partnership with Sage in 2015, Maybank has introduced several programmes such as Bulk Payment and Auto Reconciliation for Sage UBS and Sage Payroll solution, he said.

"These innovative and user-friendly digital solutions that fuel SMEs' efforts to improve productivity, ensure security and leverage user-friendly features are in line with Maybank's 2020 objective of being a digital bank of choice," added Hamirullah.

Maybank Sage SME DX

Photo - (From left) Michael Foong, Group Chief Strategy Officer, Maybank; Datuk Hamirullah Boorhan, Head of Community Financial Services (CFS) Malaysia, Maybank; Robin Chao, Vice President, Sage Software Asia; and Kamlesh Mahtani, Head of Sales, Startups & Small Business, Sage Software Asia)

Moving forward, Sage intends to add more features and functions in Sage One, said Robin Chao, vice-president, Sage Software Asia. These include an Interactive Dashboard with graphs and drill down, point-of-sales (POS), inventory management, eCommerce and invoicing to meet customers' needs.
"The successful movement of money is at the heart of every well-managed business," added Chao. "By tapping on technology to integrate key accounting functions of business processes and systems, organisations can reduce manual administration and free up time for more value-add activities. Entrepreneurs and their businesses can achieve higher levels of automation, efficiency and productivity, as well as gain better visibility into business performance by automating these key functions."

You may also like to see recent exclusive deep dive interviews with MDEC CEO Dato' Yasmin Mahmood on the Digital Malaysia framework.


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