67% of SMEs adopting digital gross sales know-how, Maybank survey

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KUALA LUMPUR: A Maybank survey of its borrowing SME clients reveals that 67% of the respondents have totally leveraged digital know-how into their gross sales platform throughout Motion Management Order 3.0 (MCO3.0).

“MCOs and social distancing measures have steered SMEs to re-organise their enterprise fashions, transferring their operations on-line with the intention to stay in enterprise and overcome disruptions in provide chains.

“The SMEs have additionally ventured into numerous social media platforms corresponding to Telegram, WhatsApp, Fb, Instagram and quite a few e-commerce marketplaces,” the financial institution mentioned in Wednesday assertion.

It added that the remaining 33% of SMEs had been unable to undertake digital know-how for a myriad of causes together with the character of their enterprise being unsuitable to on-line platforms, a scarcity of technical information, the price of implementation, failed makes an attempt to make use of these platforms, and others.

The Maybank survey undertaken in September and October 2021 was a part of a broader train undertaken for non-retail and company clients in Malaysia, carried out to completely perceive how MCO3.0 has impacted SME clients.

On the similar time, it aimed to gauge the monetary well being of those clients and determine any extra help that may very well be rendered to them.

It approached the topic from 5 classes together with monetary, know-how, enterprise, provide chain and folks.

The principle respondents had been from sectors corresponding to wholesale and retail commerce, actual property, manufacturing and development.

Amongst different revelations, respondents to the survey mentioned they confronted numerous enterprise challenges ensuing from the financial disruption with a drop in demand, delay in receivables and absence or delay in acquiring provides being the three most typical.

Gross sales had been additionally impacted with 61% experiencing a lower in gross sales, 25% reporting no change to gross sales and 14% recording improved gross sales.

On workforce administration, some 80% of SMEs undertake any retrenchment. About 72% of respondents didn’t train wage cuts whereas the 28% that dide cited shorter working hours as the rationale.

The survey additionally discovered that 99.6% of the respondents had been nonetheless working, though 21.2% needed to quickly shut throughout MCO3.0, whereas solely 0.4% had completely ceased operations.

“As we proceed to assist our clients by way of our monetary options, the Group concurrently initiated the Maybank SME survey with the intention to analyse and resolve the strain factors confronted by them.

“Since SMEs are the nation’s financial spine, using virtually half the workforce and contributing near 40% of Malaysia’s Gross Home Product, it’s vital that we render acceptable help – not solely by way of financing but in addition different areas corresponding to enhancing their digital presence, operational effectivity and so forth,” mentioned group CEO of Neighborhood Monetary Providers Maybank Datuk John Chong.



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