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Published 19 February, 2020
SUPPLYCART has signed a Memorandum of Understanding (MoU) with Xero Platinum partner, YYC Group to collaborate in helping corporates and SMEs digitally transform their business.
The two companies bring added value with their e-procurement and accounting services by enabling them to digitalise the operational side of a business.
Supplycart is revolutionising e-procurement through their platform ADAM which helps analyse, digitalise, automate and manage the way companies source, manage and pay for their business needs. ADAM allows multiple users to experience a consumer-like shopping experience while still adhering to internal compliances with PO control features and approval flows.
With its analytics feature, businesses can improve spend transparency and make informed data-driven decisions on optimising savings.
Supplycart chief executive officer Jonathan Oh noted, “procurement is traditionally a very time-consuming and tedious task that can result in overspending if not done properly. ADAM saves corporates and SMEs the headache of sourcing vendors and comparing quotes manually by digitising the entire process. Automating this process significantly reduces the timeframe for procurement from weeks to hours while ensuring efficient spending through tail-end vendor management.”
The government has identified growing the adoption of e-procurement as one of the six key focus areas of the National e-Commerce Strategic Roadmap, in order to double Malaysia’s e-commerce growth rate and reach a GDP contribution of RM211 billion by 2020.
As the first Xero Platinum partner in Malaysia, YYC utilises Xero to digitalise their accounting services for their clients nationwide and works with its partners to take their services online in their quest to digitally transform the business landscape of the future.
YYC is the only Malaysian Xero platinum partner which gives them marketing support, business training and practice software to perfect their services.
The MoU will see Supplycart collaborating with YYC whose accounting service similarly allows their clients to manage and track their expenses from one platform in real-time.
The partnership between these two businesses allows for digitalisation to take place for the operational areas of a business namely procurement and accounting.
“We knew right away that we wanted to work with Supplycart because of our shared goal to help empower corporates and SMEs through digital business transformation. As a testament to our belief in ADAM, we are utilising the service for ourselves and are seeing tremendous results, now on track to save 13% just by optimising our vendor selection,” said YYC Group’s group executive chairman Yap Zhi Chau.
The MoU comes shortly after the announcement of Budget 2020 which saw a generous amount of allocations and benefits for SMEs. These two services will allow corporates and SMEs to take full advantage of these benefits by streamlining two crucial parts of their business process.