AGOS Asia’s Chief Executive Officer (CEO), Joon Teoh
PETALING JAYA, Oct 29 (Bernama) -- Local enterprises are encouraged to capitalise on their proximity to advanced global business services (GBS) centres in the country by embracing the technologies utilised by these shared services hubs.
GBS and finance expert Joon Teoh said among the renowned multinationals that have established GBS centres in Malaysia are locally based Petronas, AstraZeneca, Novartis and Baker Hughes.
“They (Malaysia’s business community) are probably not aware that in our backyard, in our perimeter, there are so many advanced (GBS) centres that are using advanced technology, and they also employ good talents,” she told Bernama at the sidelines of AGOS GBS Summit 2023, organised by AGOS Asia, here, recently.
Teoh said that GBS centres in Malaysia provide shared services using digital technology for global internal customers, such as finance, human resources, procurement, supply chain, and information technology (IT).
“Robotic process automation (RPA) is one of the technologies that are being employed by those GBS centres and it can also be adopted by the local business community to get rid of voluminous, repetitive and transactional work.
“RPA can help to free up people’s time for them to do more analysis work to improve productivity, savings, cash flow and so on. There is also a new technology, called process mining, which gives an organisation some real-time insights into some control areas that can identify fraud and also non-compliance,” she explained.
Teoh also said that the automation and digitalisation process in Malaysia has indeed accelerated after the COVID-19 pandemic but much more effort is needed as many enterprises are still considering cost as a significant barrier when it comes to the need for digital transformation.
“This is where local companies need to be clear about their decision criteria. Cost is one factor to be considered but what is more important is to create a holistic business case and think about the quantifiable or non-quantifiable value to the business.
“An example will be improved talent retention as staff sees an opportunity to upskill themselves on the automation curve,” Teoh, who is also AGOS Asia’s Chief Executive Officer, said.
She said one of the reasons she started the summit in the early years was to make it a platform for the country’s local companies to join and learn from the multinational GBS players who are using high-end technology.
According to the 2023 Global Services Location Index report released by global management consultancy Kearney in July, India, China and Malaysia continue to lead this year’s index.
Baker Hughes Global Finance Organisation lead, Scott Paxton
Meanwhile, Baker Hughes Global Finance Organisation lead Scott Paxton said the energy technology company’s GBS centre in Malaysia is consistently performing at a high level, benefiting from the country’s diversity and the availability of talent.
“So, diversity for us is critical to achieving high results. We see that different mindsets, different ways of thinking, different backgrounds and cultures create better solutions. People can think outside of the box more,” Paxton told Bernama at the same event.
He elaborated that as a finance services hub, 500 qualified accountants are employed in Malaysia and are being upskilled to provide technical support for 120 countries across the entire globe.
Novartis Operations Corporate Centre, Kuala Lumpur, Ad-interim Head of Financial Reporting and Accounting Operations, Matt Nichols
Novartis Operations Corporate Centre, Kuala Lumpur, Ad-interim Head of Financial Reporting and Accounting Operations Matt Nichols said one remarkable aspect of Malaysia is the exceptional quality of its labour market.
“What I would like to see more from the government is supporting people, particularly in finance where I am coming from … continuing to upskill the labour force in terms of artificial intelligence (AI) and technology."
“So, finance and technology are becoming closer and closer together,” he said.
Novartis’ GBS centre in Malaysia comprises IT, fi nance, procurement, human resource and consulting services.
-- BERNAMA
Source:
1) BERNAMA.COM, BUSINESS, Sunday, 29 October 2023
2) thesundaily.my, Sunday, 29 October 2023
3) www.businesstoday.com.my, Sunday, 29 October 2023
4) the-sun-malaysia, Sunday, 29 October 2023
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