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Top 4 Financial Tools to Use to Digitalise Malaysian SMEs


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The government’s Budget 2023 has made it easier than ever for Malaysian SMEs to embrace digital technologies to improve business productivity and profitability. 

In fact, Budget 2023 has a laser focus on expanding Malaysia’s digital economy, contributing 22.6% to the nation’s GDP in 2022, and aiming to reach 25.5% by 2025 under the Malaysia Digital framework. 

So, if you’re a Malaysian SME wanting to take your business to the next level, you’re in for a treat. The presence of many digital financial tools for various financial operation areas is a boon that you should leverage.  

Today’s article aims to educate Malaysian SME owners on the importance of digitalizing financial activities and the best financial tools they can use to streamline such activities.  

We’re also giving an exciting offer that can kickstart your finance digitalisation journey. Continue reading to claim your offer!  

The Importance of Digitalising Financial Activities 

If it’s not broke, don’t fix it.   

Though the statement above is true, you can’t apply that when it comes to running your SME. In a fast-moving world, it’s crucial for you to actively identify and improve the financial activities that are still lagging behind.  

Are you wondering why? Let’s understand the importance and urgency to digitalize your SME’s financial activities.  


Digitalizing financial activities can save a lot of time and effort as many manual processes can be automated. For example, digitizing invoicing and payment processes can save time and reduce errors, freeing up your team to focus on mission-critical tasks.  


Digital financial systems can minimize human errors in financial transactions as well as make tracking and monitoring of finances more accurate. This reduces the risk of financial errors and fraud, which can be costly for SMEs. 


Digital financial systems provide greater transparency into financial activities, enabling business owners like yourself to track cash flow, monitor expenses, and make informed financial decisions. 

Access to capital 

When you have access to financial performance records, it’s easier to secure loans and investments. This can help SMEs grow and expand their operations. 


As SMEs grow and expand, digital financial systems can adapt and scale to accommodate their changing financial needs. 

By taking full advantage of digital financial tools, SMEs can streamline financial processes, reduce risks, and position themselves for growth and success. 

Now let’s check out the top four Malaysian financial tools that can digitalize SME financial activities.   


Top 4 Financial Tools to Digitalise Malaysia SMEs 

We’ll focus on four different areas and relevant software within financial activities that you can try out for your own company.  

Expense Management – Swipey 

An expense management software is a computer program that helps businesses track, approve, and reimburse employee expenses efficiently with little to none frauds. Digital-native SMEs like software companies as well as client-facing SMEs like marketing agencies are strongly advised to incorporate an expense management system. This is to ensure that all expenses are counted in real-time which can help to stabilize your company’s finances.  

There’s one player in town and that’s Swipey.  

It’s a digital expense management software that simplifies the expense reporting process by allowing employees to submit expenses on the go, automatically categorizes expenses, and generates real-time reports. Swipey also offers prepaid cards that enable SMEs and corporates to control spending and manage budgets. To top it all off, Swipey integrates with popular accounting software to streamline the accounting processes too. 

Click here if you want to get a free demo to see how it can be incorporated into your company.  


Payroll – BrioHR 

A digital payroll software automates the process of calculating and managing employee pay as well as related taxes and deductions. With one in place, you get to save time, improve financial accuracy, ensure compliance, and increase employee satisfaction. 

And that’s exactly what BrioHR’s Payroll product does.  

It’s a cloud-based payroll solution that automates payroll-related tasks such as calculating salaries, taxes, and other deductions; it generates payslips, manages employee time off, tracks attendance, and compliance with local tax laws while integrating with other HR modules to create a comprehensive HRIS (Human Resources Information System).  

We’re thrilled to announce that we’ve partnered with BrioHR to offer our users an amazing deal. Get 20% off the first year of BrioHR’s subscription when you sign up through Swipey!  

Claim My BrioHR Offer here


Bookkeeping – Bukku 

A bookkeeping software helps businesses keep track of their financial transactions, including income, expenses, and taxes, and generates financial reports. It’s especially critical for SMEs since it simplifies the bookkeeping process, reduces errors, provides accurate financial records, and saves time and money. 

An example of local bookkeeping software is Bukku. 

It enables businesses to track their financial transactions, including income and expenses, manage accounts payable and receivable, generate financial reports, and calculate taxes while providing a user-friendly interface, automation of repetitive tasks, integration with third-party applications, and reliable data backup and security. 


Inventory Management – QNE 

An inventory management software helps SMEs track their inventory levels, sales, orders, and manage their supply chain processes. It’s an important financial tool to implement as it improves inventory control, reduces costs, increases the efficiency of the supply chain processes, and enables data-driven decision-making. 

One such example of Malaysian inventory management software is QNE.  

With QNE Inventory user-friendly interface and functions, you or your team can manage inventory tasks easily, such as creating invoices, stock balance management, goods management, goods category management, staff sales records management, staff permission management, and many more.  


Take Your SME Financial Activities to the Next Level 

Digitalising your SME ensures that your business is at the forefront of success and expansion. Start with improving your financial activities with the tools listed above as they’re the heart of your company before moving to other areas within your company.  

Don’t miss out our special BrioHR x Swipey offer and get 20% off the first year of BrioHR’s subscription when you sign up through Swipey! 

Claim My BrioHR Offer here

Or if you’re interested in exploring Swipey for a completely digital expense management process, sign up now! Or see it in action!  

Sign Up to Swipey for free

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