Over the past 12 months, CPA Australia led a major research project to understand how different businesses are using technology, and what some of the drivers and challenges to adopting new technologies are. We discovered that technologies such as data analytics and business intelligence software can improve operational efficiency and have become a boon for Malaysian businesses.
We surveyed 725 professionals working in different industries in Australia, Mainland China, Hong Kong, Macau, Malaysia and Singapore. Respondents were asked about their businesses’ past and expected technology use, and the results can be found in our Business Technology Report 2021 (PDF, 1.1 MB).
We found that over the past 12 months, Malaysian businesses that focused on upskilling their employees' technological capabilities, also looked for opportunities to improve their existing technology, and developed long-term technology or digital strategies.
Bryan Chung FCPA, CPA Australia Malaysia Division Digital Transformation Committee Chairman, said: “improving the technology deployed in the past 12 months contributed to many Malaysian businesses strong performance in a difficult environment.”
“Malaysian businesses participating in the survey used technology to improve their operational efficiency, reduce costs and improve customer experience. This is a careful approach given current market conditions and placed them in a good position to adapt to rapidly changing conditions, and the needs of consumers and employees,” he said.
This research reveals that businesses with a positive outlook on growth are looking to invest in data analytics and visualisation software, business intelligence software and cloud technology in the next 12 months.
We also found that most businesses are planning to invest in technology tools in the next 12 months, which signals a shift from cost savings to revenue growth. However, not all businesses are in a position to seize this opportunity. Small businesses surveyed, reported financial constraints as their main challenge to technology adoption.
Chung explains that there are actually many funding opportunities available to help Malaysian businesses access the technologies that high-growth businesses are much more likely to use.
“Small business owners would benefit from accessing upskilling initiatives that enable them to grow their businesses over the next year, especially in the technologies that high performing businesses are using or investing in,” he said.
Currently, the Malaysia Digital Economy Corporation (MDEC) is offering several initiatives to help build digitalisation knowledge such as the SME Business Digitalisation Grant, 100 Go Digital, and Smart Automation Grants.
Assistant Manager Communications, Malaysia
P: +6012 718 5852
E: [email protected]
Senior Manager – Professional Development and Communications, Malaysia
P: +6012 2790254
E: [email protected]
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