A first-of-its-kind vendor digitalisation service platform, WhyQ, has recently expanded into the Malaysian market with the aim of digitalising micro-small-and-medium enterprises (MSME) in Malaysia by providing modern and advanced solutions necessary in running a business. With WhyQ, these businesses will be able to continue servicing and connecting with their customers in a hassle-free manner, ensuring continued survival amidst Malaysia’s most recent movement control orders.
Established in Singapore in 2014, WhyQ enters the Malaysian market to support businesses in transitioning into the digital space while offering simple accounting and bookkeeping services to assist in streamlining business management. Completely free to use, the platform is fully equipped to seamlessly integrate onboarded MSMEs, allowing them to go online with their personalised e-stores, track sales and expenses, record debit and credit transactions through convenient WhatsApp reminders while reaching out to customers through customised marketing tools.
For greater convenience, merchants can access WhyQ’s mobile application on their personal smartphones as WhyQ’s mobile application is compatible with even the most basic Android operating system. This ensures that communities of every income bracket are catered for. The application will also be available for iOS version in the coming months.
Despite demonstrating a high smartphone and tablet penetration rate at 90-95%, MSMEs record a significantly lower rate of usage of digital tools such as financing and accounting tools at 23-30% along with POS systems and inventory management both at only 17-25%.
“Currently, we are focused on building a support system to onboard more merchants nationwide and this is being executed through a stage-by-stage rollout of our mobile application across all states. This allows us to gradually penetrate first, second and third-tier Malaysian cities as part of our strategy to execute mass digitalisation for micro and small businesses across Malaysia. Ultimately, we aim to successfully build a micro-ecosystem where we will incorporate more robust and complete financial, HR and operational features in the future,” explained WhyQ co-founder and director, Rishabh Singhvi.
Among WhyQ’s core services are their free to use bookkeeping solutions, an e-store platform, stock management tools and Customer Relationship Management (CRM) solutions. These services are reflected in their WhyQ Store Manager mobile application that has already been launched, equipped with a complete set of digitalisation tools catered to MSMEs in Malaysia. By providing convenience at every stage from buying raw products and taking orders to deliver the products, WhyQ serves as a perfect platform for MSMEs to run their business and sell online independently with a seamless marketplace and delivery integration.
Moving forward, WhyQ aims to introduce WhyQ Mart which is scheduled to launch in Malaysia within the next few months as part of its many services benefiting their merchants. The platform also hopes to welcome a total of 2000 local MSMEs onto their platform by the end of July and 20,000 merchants by the end of the year.
