SMEs to record up to 30pc productivity growth via digitalisation programme

KUALA LUMPUR, Dec 4 — United Overseas Bank (Malaysia) Bhd (UOB Malaysia) and The FinLab today announced that the small and medium enterprises (SMEs) that have completed the “Jom Transform Programme” are expected to see a rise in productivity by up to 30 per cent through digitalisation.

The companies in a joint statement said the scheme was the first business transformation programme in Malaysia to help local businesses digitalise their operations to drive productivity and revenue growth,

They said during the three-month programme, 16 participating SMEs gained digital transformation skills and knowhow such as business re-engineering and digital marketing.

Out of the 16 participating SMEs, 12 piloted 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 per cent.

UOB Malaysia chief executive officer Wong Kim Choong said the programme affirmed the bank’s commitment to help Malaysian SMEs digitalise their business for continued growth and productivity.

“The programme is designed to help Malaysian SMEs digitally transform their operations and we are pleased to announce that it has met this objective.

“Having completed the three-month programme, the 16 selected SMEs are now able to apply digital solutions to optimise their workflow processes, improve sales, increase customer loyalty and raise brand awareness,” he said.

Jom Transform is jointly organised by UOB Malaysia and The FinLab, an innovation accelerator under United Overseas Bank Ltd.

The programme is supported by five strategic partners including the Chinese Chamber of Commerce & Industry of Kuala Lumpur and Selangor, the Malaysian Association of Tour and Travel Agents, Maxis, Malaysia Digital Economy Corporation and SME Corporation Malaysia. — Bernama

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