AmBank and Maxis have introduced ‘SME-in-a-Box’, a one stop solution offering comprehensive and simple financing and digital solutions for SMEs that leverages the potential of e-Commerce particularly in these challenging times. For SMEs that do not have an e-Commerce platform, SME-in-a-Box comes with services that can help them launch one quickly.
SME-in-a-Box provides an easy to access package that rewards SMEs with greater value, by combining AmBank’s leadership in providing financial solutions to SMEs and Maxis’ leading converged solutions. Services within the solution include a designated hunting line, SMS advertising services to push promotions and drive more sales, as well as mobile security to protect employees’ mobile services against online threats while working from home.
SMEs contributed more than 38% to Malaysia’s GDP in 2018 and represent a staggering 98.5% of business establishments. However, many have only just begun to digitalise their business model or to participate in e-Commerce. Many have also not been able to fully leverage on the potential of e-Commerce which has become vital, particularly with the current movement control order (MCO) and social distancing requirements. SME-in-a-Box is therefore aimed at helping these SMEs transform their businesses and participate in the ever-growing digital economy. In fact, Maxis has seen that customers across several sectors utilising the e-Commerce platform have been able to keep their businesses running, with a surge in average online revenue growth during the MCO period of up to 2.5x, compared to pre-MCO e-Commerce store volumes.
“We recognise the need for SMEs to be digitally ready and the relevance of e-Commerce for their businesses, now more than ever. Ever since the MCO started, SMEs have had to adapt to a steep learning curve. Our aim is to ensure our SMEs have the ability to tap into a new source of business growth in the form of e-Commerce. SME-in-a-Box allows SMEs that need to launch an online business or e-Commerce platform to do so quickly. It also provides additional value for their operating account, payroll, transactional services and gives quick access to working capital financing, amongst others. This partnership further serves as a viable platform for SMEs to grow by enhancing their digital capabilities through our partner, Maxis,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
“We are in unprecedented times where cost efficiency in business has never been more critical. We recognise the vital role that SMEs play in the nation’s economy, and we have a desire to help them with customised digital solutions with the best value for their business operations. Our partnership with AmBank is not just to help increase digital adoption across SMEs, but to strengthen their position within the digital ecosystem. It is also important for SMEs to start building their online presence now, for longer term benefit,” said Gökhan Ogut, Maxis’ Chief Executive Officer.
SME-in-a-Box will provide access to Maxis’ digital connectivity solutions through a single touch point which will help them improve their customers’ digital customer experience. Customers who take up the package will also have access to a wide range of Maxis’ Enterprise grade solutions, and the capability to provide businesses and their teams with flexibility of working and collaborating from home. This has been designed with free unlimited 4G Wi-Fi for businesses, two months complimentary services with Maxis Business Voice Connect app and free six months Microsoft 365 that includes Microsoft Teams collaboration tool, free email domain personalisation and personal mailbox migration. These mobility solutions will enable companies to huddle at ease, across multiple devices, assuring collaboration from home or across borders is made easy for business continuity.
Meanwhile, SMEs will have access to services that will help them set up an e-Commerce platform by Maxis’, with pre-integrated services for order fulfilment and pre-negotiated rates for merchants for delivery across Peninsular Malaysia, East Malaysia as well as Singapore. Financing is also available from AmBank for the e-Commerce package.
AmBank is also extending a working capital facility to SME businesses impacted by financial challenges due to the COVID-19 pandemic. Besides allowing deferment of monthly instalments or repayment for six months to all its existing customers, the working capital facility offers collateral-free financing of up to RM1 million and disbursement within five days from the approval date. AmBank is also offering a high yield Current Account/Current Account-i to ensure every ringgit in the SME operating account works harder.
For more details on SME-in-a-Box and other products, please visit ambankmaxisbiz.com.
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