Malaysian SMEs complete UOB-backed digitisation programme

It is expected to improve their productivity by up to 30%.

Small and medium-sized enterprises (SMEs) have completed the Jom Transformation Programme expected to improve their productivity by up to 30% through digitalisation, according to organisers United Overseas Bank (Malaysia) and accelerator company The FinLab.

The programme is reportedly the first in Malaysia to guide local businesses in digitalising their operations, according to UOB Malaysia and the FinLab.

During the three-month programme, the 16 participating SMEs were attended workshops on digital transformation skills and know-how such as business re-engineering and digital marketing.

SMEs were also reportedly matched with specially-chosen technology partners to pilot relevant solutions and to assess the effectiveness of these solutions.

Out of the 16 participating SMEs, 12 adapted solutions to enhance their core business processes such as payroll, human resources and accounting. The automation of these processes is expected to help employees reduce the time they spend on manual, administrative processes by as much as 30%, said UOB Malaysia and FinLab.

For example, participant Serai Group, a Malaysian family-owned food and beverage (F&B) group with nine outlets across Kuala Lumpur, adapted a digital solution provided by AImazing, a Singapore-based technology firm, to help their business digitalise its receipt and point-of-sale data.

The SMEs also embraced solutions in digital marketing, lead generation, content creation and e-commerce solutions. These solutions are expected to boost the SMEs’ sales and customer acquisition by up to 10%, the release said.

Jom Transform is jointly organised by UOB Malaysia and The FinLab, an innovation accelerator under UOB. The Programme is supported by five partners including the Chinese Chamber of Commerce & Industry of Kuala Lumpur and Selangor, the Malaysian Association of Tour and Travel Agents, Maxis, the Malaysia Digital Economy Corporation and SME Corporation Malaysia.