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Importance of Digital Transformation and How MDEC’s #DigitalvsCovid Campaign can help SMEs

14 April 2020

The Malaysia Digital Economy Corporation (MDEC) has launched #DigitalvsCovid Campaign since March 2020 to mitigate the Covid-19 impact on our economy. The campaign features 80 Malaysian Tech companies offering their digital solutions and services at discounted prices and some even for free, to support SMEs and their businesses during this uncertain economic period. Some of the main objectives for the campaign is to provide support for SMEs to cite business continuity, the well-being of their employees and support for macro or socioeconomic.

 

The campaign has garnered very encouraging responses from tech start-ups and scale-ups recognised for their tech innovations and sizable business footprints. Surina Shukri, CEO of MDEC said that large corporations have contingency plans in place to minimise the impact of Covid-19 Pandemic, but it’s a different case for SMEs and micro-businesses. The easiest and fastest way forward is through automation and digitalisation.

SMEs are at risk due to the lack of Digital Transformation

Some SMEs are struggling due to the carelessness of not paying enough diligence to digital transformation efforts and getting their businesses downtime-ready especially during times like these. A report shows that many of them turn to e-Commerce with only objectives to drive more sales, but forget to look at operational complications and product management, for instance. Digital Transformation is more than just selling on an online platform, it’s also being able to manage your businesses while being away.

 

The narrowing of supply chains when resources don’t match with consumers’ needs

Traditionally, we’ve probably got it. We know what our customers/consumers want and need. However, at times like these, even the latest iPhone slashing their prices won’t garner their targeted sales KPIs. People are looking the other way. Spending powers have decreased and are now focussed on daily and essential needs instead of luxury or ‘nice-to-haves’. Resources suggests that instead of having these resources-issues sit idly, a policy, plan or platform that could assist in consolidating and match the right resources to tackling these bottlenecks will not only help to ease the immediate tension for certain industries, but will also create a solid base for economic recovery when this MCO ends. 

 

SMEs and entrepreneurs are strongly urged to leverage on this campaign to get back up on their feets and get their businesses running. Help has been handed, now actions must be taken smartly.
Visit
https://mdec.my/digitalvscovid/ for more information on the #DigitalvsCovid Campaign.

 

LamboPlace is on a mission to break the traditional chains of running a business and help SMEs and micro-businesses to start digitising their businesses via encouraging them, not only to sell their products on the ready-online-marketplace but also to transform their business to downtime-ready. Find out more about how LamboPlace is playing a role in aiding ‘Digital Transformation’ missions for Malaysia, in this article here.

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