AkaBot, a Vietnam-based robotic process automation (RPA) solutions provider, has officially introduced the strategy to extend its services and solutions in the Malaysia market.

The company said in a statement on Thursday that it will offer Malaysian businesses in finance, banking, retail, and manufacturing a range of holistic solutions for automation and digitization, enhancing overall productivity and cost savings.

According to the statement, Malaysia is witnessing a surge in the demand for digitalization in response to ongoing corporate investments.

Projections for the 2023 digital economy in Malaysia indicate a significant contribution of 24.4 percent to the nation’s gross domestic product (GDP), with expectations of a further increase to 25.5 percent in the subsequent year.

Looking ahead to 2024, it said the Malaysian government has allocated a substantial sum of MYR 100 million ($21.36 million) for digitalization grants, aiming to support over 20,000 small and medium-sized enterprises (SMEs) in expediting their digitization and automation initiatives.

“Malaysia stands out as a compelling market for akaBot, thanks to its diverse and rapidly expanding economy coupled with a commendable level of economic stability,” said Ginny Truc To, Country Manager of akaBot.

“Despite witnessing rapid growth, it’s noteworthy that only 30 per cent of business establishments have embraced digital technology, potentially impeding further market expansion,

“We aim to address and resolve these challenges in Malaysia by offering automated operations that promise heightened productivity, enhanced reliability, improved performance, and reduced operating costs,” she added.

According to the statement, the level of digitalization in businesses is still relatively low compared to developed markets.

It said the high cost and lack of localization in the current market offerings have been significant barriers to growth.

With akaBot being able to develop customized automation solutions that suit local business needs, as well as provide affordable solutions, the company sees a strong potential for growth in the market.

“We anticipate a strong demand for our solution in Malaysia, driven by the country’s considerable potential,” said akaBot Chief Executive Officer Giap Bui.

“We see significant growth opportunities here. The fact that there are over 1.15 million SMEs in Malaysia emphasizes the clear need for a solution like akaBot,

“We look forward to working with our new and future customers to contribute to the development of Malaysia’s digital economy,” he added.

Founded in 2018, akaBot, a subsidiary of Vietnam’s information technology (IT) firm FPT Information System, is a provider of RPA and hyper automation services, aiming at helping organizations achieve operational excellence with minimum effort and low licensing costs.

The firm has experienced remarkable growth, expanding its operations to encompass eight countries, including Malaysia.

With over 3500 customers in 21 countries globally, akaBot has successfully reached and deployed over 10,000 virtual robots for a vast range of brands of multiple industries across the world including Panasonic ITS, Mizuho Bank,
Thinkpower, SCSK Europe, and others.

Driven by a vision of creating the ideal digital workspace, akaBot’s virtual assistants have freed more than 11 million employees from mundane tasks, slashing processing time by a remarkable 70 per cent and saving up to 21.9 million working hours annually.

Additionally, akaBot champions environmental sustainability, reducing paper consumption by 60 percent, fostering a greener office environment.

In 2023, akaBot implemented its RPA solutions for various companies in Malaysia, addressing the main issue of manual and repetitive tasks.

In the retail sector, akaBot focuses on automating order purchase processes to save 50 percent processing time, translating to potential savings of up to $500,000 in operational costs.

Especially for manufacturing and financing clients, the RPA solutions improve workflows with a 95 percent reduction in invoice processing time, coupled with an impressive accuracy rate of 99 percent.

AkaBot’s automation solution operates by leveraging advanced RPA technology to streamline and optimize various business processes.

The system is designed to handle repetitive and rule-based tasks, such as data entry, supply chain management, inventory, document verification and many more.

This ensures that businesses benefit from increased efficiency and accuracy in day-to-day operations.

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