CIMB Foundations educational programme to empower SMEs, that began on 05 September 2019 came to a close at the weekend in Kuching Sarawak. The programme was aimed at guiding SMEs to align their businesses towards the digital era, especially the 4th Industrial Revolution (IR4.0). Participants had the opportunity to learn from successful cases and understand the value technology can add to their companies.
Cheng & Co Group’s Executive Chairman Professor Dato’ Dr Chua Hock Hoo and our Global Business Services Director Tai Ming Ming were among the speakers, focusing on the importance of cloud solutions and its benefits for SMEs in the IR4.0 era. In his presentation, Professor Dato’ Dr Chua briefly touched on the history of Cheng & Co and the firm’s transformation from a small accounting practise into a high-tech one-stop professional centre for business solutions.
He also stressed on how cloud solutions can help SMEs deal with operational issues such as accounting, inventory management and human resource. SMEs that embrace cloud accounting can run their businesses from anywhere while understanding their cash position in real-time. They will also be able to effectively collaborate with their accountants and protect their business data in a highly secure environment.
Tai’s presentation went on to illustrate how cloud accounting can enable online invoicing which helps clients / customers make transactions effectively. He also went to explain the use of artificial intelligence for accounting as well as human resources which enables quick creation of accounting entries and efficient management of employee records respectively. The importance of Cloud POS solution for e-commerce businesses were also highlighted.