The coronavirus pandemic will spur businesses in Malaysia to accelerate their digitization efforts at a time when the global economy is under siege by disrupted supply chain and nationwide shutdowns. We have estimated statistics from MIER that the Malaysian economy would likely experience negative growth for the rest of 2020. Major industries such as aviation, tourism, manufacturing, retail and wholesale trade, business services, construction and real estate are facing steep downturns, with businesses from the epicenters needing to be closed down to curb the spread of the virus epidemic. Malaysian businesses can view the coronavirus pandemic as a catalyst to fortify their business continuity measures and adopt new ways of handling their business.
With prevention measures against the pandemic being outlined in MITI’s various SoPs that emphasize social distancing and constant sanitization of business premises, all Malaysian businesses must implement the requirements to minimize disruption to operations and to ensure the safety of workers. Many companies are focusing on workplace and business platforms that help with remote working and collaboration with customers and suppliers being essential tools. Facilitating remote working in response to this pandemic could provide the required push for digital transformation as it serves to change working and business norms in the long run.
Remote working comes with a variety of risks and a common risk involve the use of consumer apps. This could expose the business to risks involving hacking and scams. This security risks needs to be addressed with focus on basic necessities such as update to date anti-virus software, robust firewall and security software to protect corporate network and systems. Many Malaysian SMEs often overlook the security aspects of their networks when only using very basic internet connectivity. Home internet are usually unsecure and the most easily hacked; connecting to a business network without a virtual private network tunnel often exposes such risk. Home PCs and sometimes work laptops are significantly under protected with outdated antivirus and intrusion software. All these needs to be enhanced to ensure a safe work from home strategy.
Digital solutions can help companies to digitize customer-facing documents while working from home. Many Malaysian SMEs are still using “pre-printed” forms for documents such as delivery orders, invoices, credit notes, debit notes and purchase orders that require printing and delivery via snail mail. Working from home creates a disconnect from being able to carry out such processes. As “low touch” is encouraged, having a manual human process is frowned upon as many processes need to be in place to prevent any spreading of the virus. Digitizing all the documents with multi-channel delivery is the solution to these processes. Digital documents generated can be archived into a digital cabinet which allows for retrieval anytime and anywhere. Your customers and business partners will have instant access to all such documents the instant it is created. Workflow can be embedded into the process to ensure transparency and authenticity.
In the coming weeks, there will be an acceleration with digital transformation. Companies will be forced to invest moderately in order to optimize such processes. Many companies will also be focused in investing technology to digitize their sales operations by deploying B2B customer engagement processes. As “Low Touch” engagements between your business and your customer proliferate, a digital platform is needed to maintain and enhance the customer experience. Some basic functions include order self-service, delivery status self-tracking, document download and so forth. These processes will extend to dealings with your suppliers as well. There will be more adoption for eProcurement as companies begin to reduce the number of contact points.
SL Information Solution provides a host of solutions that will help your business to jump-start your digital transformation quickly in areas such as digital documents, digital archiving, B2B, eProcurement, systems and network security.