February 26, 2024

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MDEC and CEDAR to Provide Digitalisation Assistance to Malaysian SMEs

The Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in the digital economy, in collaboration with the Centre of Entrepreneur Development And Research (CEDAR), a subsidiary of SME Bank, recently announced a partnership to enable SMEs to adopt digitalisation that will play a crucial role as the nation moves toward economic recovery post-pandemic.

CEDAR has been appointed as a partner in MDEC’s SME Digital Accelerator programme, where it aims to train 1,000 businesses and match them with digital solutions and incentive facilities if required. This business transformation programme provides SMEs with a structured approach to kick-start their digital adoption journey and ensures implementation with outcome-based results.

SMEs are hit hard by the pandemic and need to relook at various aspects of their business beyond digital marketing. Operations need to be optimised, and digital technology is a key enabler.

Many SMEs are still in the dark on how to take the first step to adopt digitalisation and the SME Digital Accelerator programme aims to help them overcome barriers hindering digital adoption and propel the business further as we chart our course towards economic recovery.

The CEO of MDEC stated that the agency will continue to push forward the digitalisation needle in its bid to establish a progressive digital nation, advancing an inclusive digital economy and digital sovereignty, in line with its vision as well as the goals of the Malaysia Digital Economy Blueprint (MyDIGITAL).

Qualified and registered SMEs will participate in a three-day online training workshop where they will be exposed to ‘Lean Model Canvas’ and ‘Design Thinking’ modules, plus technology matching with a choice of over 400 Technology Solution Providers (TSPs). The goal of the programme is to assist SMEs in increasing revenue, reduction of man-hours and/or reduction of the process time cycle.

CEDAR will be providing a new and exciting business diagnostic platform for SMEs to determine what would be the best solutions for them, be it financial, technological or business needs.

The platform, called Enterprise Lifecycle Scoring Assessment or also known as ELSA, was co-developed with Malaysia Rating Corporation Berhad (MARC), which produces a report given to each SMEs that will be completing this programme, on the improvement areas of their entire business operations and business life cycle.

The Group President and CEO of the bank stated that through its subsidiary CEDAR, the bank has developed solutions beyond financing in helping SMEs weather the impact of COVID19 and towards recovery.

The bank’s ELSA tool and development training provide this opportunity for SMEs, where the report generated by ELSA will help SMEs identify which areas of improvement are needed for them to tackle. With over 400 TSPs (Technology Solution Provider) including partners such as Unifi and TM ONE, this initiative with MDEC will get SMEs to be onboard the digital bandwagon as aspired by our Government.

Facilities for SMEs in adopting digital solutions include SME Digitalisation Grant announced by the Government along with the SME Technology Transformation Fund (STTF) financing by SME Bank.

Other facilities provided by CEDAR include ScoreXcess, a digital platform that enables entrepreneurs to apply for business financing online from multiple financing agencies or institutions simultaneously through one single application; and ODELA, a self-regulated B2B e-commerce platform that taps on new technologies and custom-designed enabling entrepreneurs to make transactions digitally, facilitate supply and demand exchange, interconnecting the Internet of Behaviors (IoB) and partnership across vast ecosystems.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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