UOB Malaysia and The FinLab’s Jom Transform Programme Help Over 100 Local SMEs Grow Their Revenue

UOB Malaysia and The FinLab have recently concluded its 2020 run of the Jom Transform Programme, during which 116 local small- and medium-sized enterprises (SMEs) received advisory and assistance in digital transformation.

Through the programme, the SMEs improved their productivity and grew their revenue, helping them to overcome the challenges brought about by the impact of Covid-19 pandemic.

In its second year, the Jom Transform Programme was conducted virtually on The FinLab Online amid physical distancing restrictions during the pandemic. The regional digital platform enabled SMEs to access online workshops, video tutorials and webinars in digital marketing, business operations and e-commerce.

Wong Kim Choong, Chief Executive Officer, UOB Malaysia said, “Through our engagement sessions last year, we found that SMEs have long considered digitalisation essential to reinventing their business models. The Covid-19 pandemic prompted these businesses to accelerate their digital transformation efforts as they had to operate with strict standard operating procedures within physical restrictions. By hosting the Jom Transform Programme on The FinLab Online, SMEs could access our resources online easily and conveniently, progressing on their digitalisation journey from the safety of their own homes and offices.”

At the start of the business transformation programme, 60 percent of the participating SMEs expressed the intent to adopt digital marketing to expand their online brand presence. The remaining participants were focused on incorporating digital solutions to improve their operations and integrating e-commerce to boost their sales.

Upon completion of the programme, the SMEs were able to achieve the following outcomes – increase in revenue, reduction in business cost, improved process time, reduction in man hours or creation of new sources of growth.

In Malaysia, with The FinLab Online, the Jom Transform Programme reached more SMEs outside the Klang Valley last year, including companies in Kedah, Penang, Terengganu, Perak, Johor, Sabah and Sarawak.

Yap Kok Tee, Executive Director and Country Head of Channels and Digitalisation, UOB Malaysia, said, “In 2020, we took the initiative to conduct the Jom Transform Programme virtually to widen our reach and to engage with more SMEs and our ecosystem partners. Last year, one out of four SMEs that participated in this programme was a business located outside the Klang Valley area. UOB Malaysia and The FinLab will continue to offer the Jom Transform Programme 2021 on The FinLab Online to support more SMEs in their digitalisation efforts and to help them embrace the new normal of doing business.”

The first cohort of the Jom Transform Programme 2021 will undergo a business transformation curriculum through The FinLab Online starting May 18. Local businesses interested to participate in the programme are encouraged to register their interest now at https://thefinlab.com/malaysiajomtransform/.

“Jom” is a colloquial term for ‘Let’s go’ in Bahasa Malaysia.

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