KUALA LUMPUR: BigLedger Sdn Bhd, a leading provider of technology-driven business optimisation solutions, urges Malaysian businesses to embrace the MyInvois e-invoicing system as a strategic growth opportunity and enabler.
CEO Vincent Lee said the system offers a unique opportunity to streamline operations, enhance compliance and harness the power of data for better decision-making.
“As Malaysia prepares for the phased implementation of MyInvois, businesses should view this digital transformation not as a regulatory burden but as a catalyst for a fundamental shift in operational practices.
“By integrating data hubs into their processes, businesses meet regulatory demands while unlocking new levels of efficiency and competitiveness,“ said Lee.
He added that by integrating data hubs with the MyInvois system, companies can then enhance operational efficiencies, improve compliance and gain a competitive edge in an increasingly data-driven marketplace.
Data hubs, which serve as centralised repositories for consolidating information from various sources, play a crucial role in maintaining data quality by providing data cleaning, transformation and validation tools.
This approach ensures that the data used for generating e-invoices is accurate and consistent, thereby minimising errors and enhancing compliance with tax regulations.
“Data hubs enable businesses to consolidate information from multiple channels, such as e-commerce transactions and point-of-sale (POS) systems, into a unified platform,“ said Lee.
“This integration is vital for generating precise e-invoices, reducing administrative burdens and nurturing a more efficient invoicing process.”
The MyInvois system, which will be implemented in phases starting this month, initially targets businesses with an annual turnover exceeding RM100 million.
The rollout will gradually extend to all businesses.
In Lee’s view, businesses that embrace the MyInvois system and the data hub approach stand to gain significant strategic advantages.
“By consolidating their data into a single, unified repository, businesses can leverage advanced analytics and business intelligence tools to unlock powerful insights for trend identification, inventory management and targeted marketing strategies,“ he said.
“This data-driven approach is essential for optimising supply chain operations, managing inventory, and developing strategies that are responsive to market trends,“ Lee added.
“It enables businesses to make informed decisions in real-time, which is critical in today’s fast-paced business environment.”
The BigLedger platform is designed to transcend traditional enterprise resource planning (ERP) capabilities, offering a modular and scalable solution that can be customised to meet the specific needs of different businesses.
The company has been fully accredited by the Malaysia Digital Economy Corporation (MDEC) as a Pan-European Public Procurement On-Line (PEPPOL) Service Provider, further solidifying its position as a leader in business optimisation solutions across Malaysia and Southeast Asia.
