KUALA LUMPUR, 4 December 2019 – United Overseas Bank Bhd (UOB Malaysia) and The FinLab today announced that the small- and medium-sized enterprises (SMEs) that have completed the Jom Transform Programme are expected to see productivity rise by up to 30 per cent through digitalisation.
The Jom Transform Programme is the first business transformation programme in Malaysia to help local businesses digitalise their operations to drive productivity and revenue growth.
During the three-month programme, the 16 participating SMEs gained digital transformation skills and know how such as business re-engineering and digital marketing. As part of their skills development, they learnt industry secrets from experts at a series of workshops and were 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 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.
This will free up their time to do more value-added work and in turn contribute to the company’s overall productivity and efficiency. The SMEs also piloted 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 per cent.
Mr. Wong Kim Choong, Chief Executive Officer, UOB Malaysia, said the Jom Transform Programme affirms the Bank’s commitment to help Malaysian SMEs digitalise their business for continued growth and productivity.
Jom Transform is jointly organised by UOB Malaysia and The FinLab, an innovation accelerator under United Overseas Bank Limited. 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, the Malaysia Digital Economy Corporation and SME Corporation Malaysia.
Ms Pauline Sim, Co-Head, The FinLab, said, “The Jom Transform Programme has successfully brought together the technology ecosystem and members of the SME community that are looking to digitalise and to uplift businesses together. We are thankful to all our partners who have supported the programme. As we continue the momentum into 2020, we will collaborate with the business and technology communities and networks we have brought together to support even more businesses who desire to transform.”
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