Malaysia’s Digital Transformation Journey Receives a Major Boost
akaBot, a name synonymous with excellence in the realm of Robotic Process Automation (RPA) and ranked among the TOP 20 worldwide RPA solutions by Gartner, has recently unveiled a groundbreaking strategy. Their aim? To broaden their reach within the rapidly evolving Malaysian market. This strategic move was announced at the first C-Talk in Malaysia, a notable event where senior business leaders and CEOs were introduced to a variety of akaBot’s automation use cases.
Surge in Malaysia’s Digital Economy
Malaysia is currently experiencing a notable increase in digitalisation demand, a trend fueled by continuous corporate investments. The 2023 projections for the Malaysian digital economy are impressive, contributing an estimated 24.4 per cent to the national GDP, with an expected rise to 25.5 per cent the following year. The Malaysian government’s allocation of RM 100 million for digitalisation grants in 2024, aimed at aiding over 20,000 SMEs in their digital and automation endeavors, further highlights the country’s commitment to technological advancement.
akaBot’s Vision for Malaysia
Ginny Truc To, Country Manager of akaBot, emphasized Malaysia’s attractive market, marked by its diverse and robust economy and notable economic stability. “Despite witnessing rapid growth, it’s noteworthy that only 30 per cent of business establishments have embraced digital technology, potentially impeding further market expansion. We aim to address and resolve these challenges in Malaysia by offering automated operations that promise heightened productivity, enhanced reliability, improved performance, and reduced operating costs.”
Overcoming Digitalisation Barriers
The current level of digitalisation in Malaysian businesses lags behind developed markets, hindered by high costs and lack of localisation in existing market offerings. akaBot’s strategy includes developing customized, affordable automation solutions tailored to local business needs, identifying a strong potential for growth in the market.
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C-Talk: Pioneering Next-Generation Technology in Malaysia
C-Talk, a series of events by akaBot (FPT Corporation) for C-level managers and IT leaders, focuses on strategic discussions and experience sharing in digital transformation. The first Malaysian event centered on ‘Optimizing Finance Operation with RPA’, exploring strategies to enhance financial performance across various sectors. Prominent speakers like Jonathan Oh – CEO and co-founder of Supplycart, and others, shared insights into the impact of automation on business.
Jonathan Oh remarked, “Malaysia is advancing quickly and in need of a relative level of digitalisation. Take for example the procurement workflow in business: the number and complexity of processes are rising, yet there is still a huge technology adoption gap leading towards challenges in spending management and cash flow. Thanks to the C-Talk event, I got the opportunity to share these business gaps and empower Malaysian enterprises with new technologies.”
Impressive Results from akaBot’s RPA Solutions
In 2023, akaBot implemented RPA solutions for various Malaysian companies, addressing issues like manual and repetitive tasks. In Retail, akaBot’s automation of order purchase processes led to a 50% reduction in processing time and potential operational cost savings of up to US$ 500,000. For manufacturing and financing clients, the solutions achieved a 95% reduction in invoice processing time and a 99% accuracy rate.
A Vision for a Digital Workspace
Founded in 2018, akaBot has expanded to eight countries, including Malaysia. With over 3500 customers in 21 countries, the company has deployed over 10,000 virtual robots globally, significantly reducing processing time and saving millions of working hours annually. akaBot’s commitment to environmental sustainability has also resulted in a 60 per cent reduction in paper consumption.
CEO’s Expectations for Malaysia
Giap Bui, CEO of akaBot, expressed high hopes for the Malaysian market: “We anticipate a strong demand for our solution in Malaysia, driven by the country’s considerable potential. We see significant growth opportunities here. The fact that there are over 1.15 million SMEs in Malaysia emphasises the clear need for a solution like akaBot. We look forward to working with our new and future customers to contribute to the development of Malaysia’s digital economy. ”