Digital Transformation of SMEs in Malaysia

scale up your business by transforming it into digital

Deka

Running a successful business requires to operate efficiently. However, making sure all strategies runs as smoothly and efficiently as feasible is easier said than done. Let alone when commercial enterprise owners have to manage endless paperwork and quite a number of business affairs, all at the same time. To tackle this, the answer to greater effectivity is Digital Transformation. 

To make it more clear, Digital Transformation refers to the process of adapting or overhauling current business processes to merge the digital strategies & modern technology into the company. Simply put, it is how enterprises use digital technologies to create new or regulate existing business processes, models, culture, practices, and client experiences to meet altering businesses and market dynamics of today. 

As the first phase of the digital transformation alleviate, all entrepreneurs have come to realize the benefits of turning into a digitally committed enterprise. With this acknowledgement, comes up-scaling as establishments throughout the world bound to make investments in digital improvements with the intention to disrupt the enterprise ecosystem; remodeling markets via innovative commercial enterprise models and digitally enabled goods and services

Malaysia’s small- and medium  (SMEs) business owners are embracing a digital future in the hope of turning into more competitive for long-term development in the marketplace and being able to meet the ever-changing needs of customers. To get a break through, you need to understand that Digital transformation is not a purely technological process. Technology is the catalyst for transformation, but a profitable digital transformation entails alignment of 3 essential elements. People. Process. Technology. In order to go ahead on the right direction of business transformation, SME ought to first get the direction to the enterprise transformation ‘right’. 

Growing a successful digital company needs a strong technology foundation,in which you can only succeed in if you work with the right professional technology consulting companion that can help to build a strong technology basis that lets in for continual improvement to operations, processes, product and provider development. Its very important that you choose the proper technology method that engages with your people and procedures to assist your goals.

Notably, there are some challenges faced by the Malaysian  SMEs in adopting such technologies together with lacks in infrastructure, regulatory and administrative burdens, insufficient access to finance and digital competencies in the workforce. Similarly, Financing appears to be another big challenge for them as indicated by means of 49% of those surveyed for the white paper. 

However, enterprise practitioners note that there is a false impression that ICT is highly-priced and many are no longer aware that there are alternative funding options that are on hand for them to faucet into. Also, cloud computing has made many of these applications a lot extra affordable and SMEs simply need to be conscious of such developments.

Regardless of the size of  industry, SMEs will obtain an advantage from taking part with members within their broader ecosystem. This offers them with connectivity into the digital community of other businesses, with the brought possibilities of co-creating new products, capitalizing on external knowledge and collective innovation, and pursuing new markets or customers. 


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