Sage: SMEs should go digital to grow profit
Sharina Ahmad | 15 Mar 2019 00:30
It is quite clear that the digital transformation of businesses in Malaysia is relatively immature with many SMEs just scratching the surface.
According to Sage Asia Software Pte Ltd, a subsidiary of UK-based The Sage Group plc, about half of the businesses in Malaysia have room for improvement in terms of digital transformation.
Its vice president and MD Arlene Wherrett. says Sage Asia sees a viable market in providing various cloud-based software solutions for businesses for accounting, finance, enterprise management, payroll and banking.
“About 50% of the SMEs here are still old-school. As the number of businesses grow, we see great opportunities for us in Malaysia, especially in the manufacturing and service industries,” she adds.
SMEs are the backbone of Malaysia’s economy, accounting for 37% of the Gross Domestic Product (GDP) in 2017 and expected to reach 41% by 2020, according to the SME Association of Malaysia.
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