PETALING JAYA: BigLedger Sdn Bhd, a provider of technology-driven business optimisation solutions, is urging Malaysian businesses to embrace MyInvois as a strategic growth opportunity and enabler.
CEO Vincent Lee said the e-invoicing system offers a unique opportunity for businesses to streamline operations, enhance compliance and harness the power of data for better decision-making.
“As Malaysia starts 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,” he said.
He added that by integrating data hubs with the MyInvois system, companies can 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 by providing data cleaning, transformation and validation tools. This approach ensures that data used for generating e-invoices is accurate and consistent, thus 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 systems, into a unified platform,” said Lee.
This integration, he added, is vital for generating precise e-invoices, reducing administrative burdens and nurturing a more efficient invoicing process.
In Lee’s view, businesses that embrace MyInvois and the data hub approach stand to gain significant 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. It enables businesses to make informed decisions in real-time, which is critical in today’s fast-paced business environment.”
The first phase of MyInvois began on Aug 1, targeting businesses with an annual turnover exceeding RM100 million. The system will gradually be extended to all businesses.
The BigLedger platform is designed to transcend traditional enterprise resource planning capabilities, offering a modular and scalable solution that can be customised to meet specific needs of different businesses.
The company is accredited by Malaysia Digital Economy Corporation as a Pan-European Public Procurement On-Line Service Provider, solidifying its position as a leader in business optimisation solutions across Malaysia and Southeast Asia.
