The buzz was electric as CTOS Data Systems Sdn Bhd, Malaysia’s leading credit reporting agency, hosted its spectacular second annual ‘CTOS SME Biz Day 2024’ on June 26, 2024, in Kuala Lumpur. Drawing over 1,500 eager attendees from small and medium enterprises (SMEs) across Malaysia, the event saw a staggering 50% increase in participation from the previous year. Themed ‘Future-Forward SMEs: Grow, Transform, Innovate,’ this one-day conference featured a powerhouse lineup of speakers from SME Corporation Malaysia, MATRADE, Small and Medium Enterprises Association (SAMENTA), RAM Rating Services Berhad, ZUS Coffee, Oriental Kopi, FashionValet Group, and Lawrence Walter Seminars.
Economic Optimism Amidst Challenges
The timing couldn’t have been more perfect. Malaysia’s economy is on an upward trajectory, with a 4.2% GDP growth and a rise in the RAM-CTOS Business Confidence Index (BCI) to 53.4 points in Q1 2024. However, SMEs are navigating a complex landscape of rapid technological advancements, inflationary pressures, and exchange rate fluctuations that impact financing conditions and credit access. Erick Hamburger, Group CEO of CTOS Digital Berhad, passionately reaffirmed CTOS’ dedication to empowering SMEs. With over 20,000 SMEs already on board, CTOS aims to expand its support network, ensuring businesses thrive in this dynamic environment.
Unleashing Insights and Real-Life Experiences
CTOS SME Biz Day 2024 was a treasure trove of insights into the market and economic trends for the second half of 2024. Attendees were captivated by speakers who shared invaluable real-life experiences in digital transformation, resilience building, embracing failure, and fostering winning mindsets to become industry game-changers. This vibrant exchange of knowledge and experiences equipped SMEs with the tools they need to innovate and grow.
Pioneering Partnerships and Cyber Security Innovations
This year’s event was in exclusive partnership with top-tier technology players, including Unifi Business, Microsoft, Lawbank Asia, Amazon Web Services, and SNS Network. Among the highlights was the soft launch of CTOS’ groundbreaking cyber security rating services. Designed to help SMEs stay ahead of cyber threats and comply with emerging regulations, these services provide a comprehensive view of a company's financial and cyber security risk profile, leveraging CTOS’ unparalleled expertise in credit ratings and risk management.
Empowering SMEs with Enhanced Tools
CTOS is not just about credit reporting; it's about empowering SMEs with innovative tools. The CTOS Verified service, launched in collaboration with airasia academy, enhances businesses' online visibility, credibility, and transparency. Meanwhile, the CTOS Credit Manager is a cutting-edge web-based application that enables SMEs to manage customer information and mitigate business credit risk effectively. These continuously enhanced tools ensure SMEs have the best resources at their fingertips to thrive in an ever-changing market.
CTOS SME Biz Day 2024 was more than an event; it was a pivotal moment for Malaysia’s SMEs to connect, learn, and chart a course for a brighter, more sustainable future. The excitement and energy were palpable, setting the stage for even greater achievements ahead.