13 Aug Want to Digitalise Your Small Business? Start Here.
Between 2010 and 2016, Malaysia’s digital economy grew by 9% annually. With Malaysia’s digital economy showing so much promise, how can small businesses start digitalising too?
Typically, business digitalisation can stem from these three sectors – customer experience, operational processes or directly within the business model.
In this article, we’ll go into 5 simple ways you can start digitalising your business from the inside out. But if you don’t have an online presence already, you might want to start there!
3 ways you can start digitalising your business
- Automate your accounting
- Embrace remote work
- Consider contactless payment system
1. Automate your accounting
Still relying on good old paper and pen? Digital accounting software can help record all your transactions, automate your invoices and keep track of all the receipts. Most importantly, it’s all done error-free, significantly cutting down on mistakes associated with manual bookkeeping.
In a report by KPMG, companies who embraced digital accounting reported:
- Improved data quality
- Increased reporting speed
- Reduced costs
- More focus on processes
- Expanded range of services
Many digital accounting systems help you easily incorporate various systems – so you can access it all through a single interface. Xero, Wave and Quickbooks are some of the most popular options out there, but Senwave’s Accounting Connector does all the work for you.
2. Embrace remote work
While working from home has become more of a necessity than an option, it might have opened your eyes to the true potential of remote work. Remote employees have proven time and time again to retain in their company for longer and enjoy better well being – all for less overhead cost.
Opting out of the traditional office space might be a drastic move. One option is to start small by employing flexible work schedules, where teams can be assigned specific days within a week where they can work from home.
Software such as cloud services, communication platforms like video conferencing can continue to keep everyone on the same page.
3. Consider contactless payment systems
In the past year, the government has employed various initiatives to encourage cashless adoption among Malaysians.
In a survey by VISA, 82% of Malaysians have been using contactless payments more often than two years ago, while more than 70% support the national goal of becoming a cashless society.
Contactless payments enable more effortless payment processes and safer, more secure transactions. As a whole, it also positions your brand as a modern, digitalised business and makes for a better overall customer experience.
The simplest way to start digitalising today
While this list only highlights 3 ways you can start digitalising your business, there are a million other ways to make that transformation! Explore our array of digital transformation solutions here.