KUCHING: Business solutions provider Century Software Holdings Bhd (Century) is banking on the huge potentials available in Sabah and Sarawak as the two states are blooming in terms of infrastructure and technology opportunities.
“Leveraging on current projects in East Malaysia, we are definitely expanding our presence in the two states,” its deputy executive chairman, Samsul Husin told The Borneo Post in an online interview
“We already have a strong presence in East Malaysia,” he added. “Our clients include Universiti Sabah Malaysia in Sabah and Labuan, Lembaga Koko Malaysia, Lembaga Pelabuhan Bintulu, and Malaysian Pepper Board among the list.”
The investment holding company provided and developed business solutions as well as the provision of high value and pioneering online payment solutions not only in the peninsular but in East Malaysia as well.
About 14 years ago, Century was started for the design, development, implementation and marketing of the Financial Management Software Systems (FMSS) for government and commercial sectors in Asia Pacific region.
As such, the company thrived on its unique market niche and endeavoured to maintain its competitive edge via catering to specific needs for its group of clients.
“There are only a handful of large players in the market. In the FMSS market, you’re looking at foreign players within the industry,” said Samsul. “But they are not really our direct competitors because we are niche and diversified in our own ways, catering to specific needs of our own group of clientele in terms of business solutions and e-payment gateways.”
Currently, the group’s core business is the Standard Accounting for Government Agency (SAGA) whererby 70 per cent of the federal government agencies are using the system.
Samsul also revealed that the group was “in plans to introduce the system to local councils in Malaysia and also to more state agencies.”
Touching on further opportunities in the future, Samsul cited the upcoming Goods and Services Tax (GST) in Malaysia which would open up huge opportunities for Century to upgrade existing government sites as well as getting potential new sites.
“Research and development efforts have been ongoing in working on new software for the GST implementation which would bring the company to a whole new level.”
In fact, Century procured a 10-month contract with the government via the Ministry of Finance (MOF) to provide a system called Outcome-Based Budgeting (OBB) in June this year.
“The government is moving towards for effective and efficient spending. In OBB, budgets are not prepared based on Income and Expense items. Instead, before the budgeting process takes place, ‘outcomes’ need to be defined first,” outlined Samsul.
“OBB uses statements of missions, goals and objectives to explain why the money is being spent, and only after that, resources will be allocated to achieve the determined objectives and the defined ‘outcomes’.
“It is different from conventional approaches because the ‘outcome’ is determined first before the resources are put in place. This results-oriented approach maximises the benefits by enabling policy makers to monitor spending patterns and determine cost-effective activities to achieve their end outcomes,” he explained.
Century was responsible for the supply, delivery, installation, development, testing, commissioning and maintenance.
“In addition, programmes that involve more than one ministry or agency can be easily and strategically integrated through the OBB process within this budget online framework,” he further added.