General

Kuala Lumpur, 3 February 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, through its subsidiary company, Asian Business Software Solutions Sdn Bhd (“ABSS”) has formed a strategic partnership with StoreCove, a SaaS e-invoicing solution provider headquartered in The Netherlands and with offices in Germany and Australia. With this partnership, ABSS and StoreCove will provide an electronic invoicing solution to small and medium enterprises (“SMEs”) in Singapore, ensuring faster and more sustainable way to transact invoicing processes nationwide and worldwide, through the adoption of the Singapore Government’s nationwide e-invoicing initiative, namely InvoiceNow. Built on the Global Peppol Network, InvoiceNow facilitates the direct transmission of invoices in a structured digital format across the finance systems, resulting in a smoother invoicing process, faster payments and greener environment.

 The adoption of e-invoicing helps businesses to improve efficiency by minimising human errors, reducing costs, reducing payment processing period and be more environmentally friendly. StoreCove’s modern Application Programming Interface (API) provides seamless integration with its partners’ software platforms to offer e-invoicing functionality as part of its customer solutions, whereby all incoming and outgoing invoices are automatically received and sent.

 “It is imperative to accelerate the use of digitalisation for SMEs in the Southeast Asia, and we are excited to partner with StoreCove; they have a great track record in helping SMEs with e-invoicing here in Singapore. Together with ABSS, as the leading accounting software provider to the Asian SME market, we know this partnership will bring improved invoicing efficiency to over 30,000 Singapore SMEs, helping them save valuable time. We have recently surpassed 1,000 InvoiceNow registrations and look forward to more businesses benefiting from sending and receiving FREE e-invoices directly from our ABSS and Financio accounting software,” said Rhys Brown, Chief Executive Officer of ABSS.

 “We are impressed by the uptake of e-invoicing in the Asian SME market and are proud to be part of this swift growth. ABSS has an experienced development team that had no difficulties connecting to our RESTful API. The Government of Singapore has stimulated the expansion of e-invoicing in the Asian market, which led to an adoption speed not seen in any other Peppol country before. ABSS, by offering InvoiceNow registration to all their customers is a key driver of this growth,” said Dolf Kars, Chief Executive Officer of Storecove.

 ABSS is the developer and leading supplier of ABSS-branded financial management and accounting software provider that supports the Asian SME markets. Their services include providing tools that simplify accounting management that extend throughout the Southeast Asia region, including Malaysia, Singapore and Hong Kong.

Kuala Lumpur, 25 January 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, today announced that it has entered into a Share Sale and Purchase Agreement (“SSPA”) to acquire a collective 162,305 ordinary shares, representing approximately a 30.87% equity interest in Asian Business Software Solutions Pte Ltd (“ABSS”) from the latter’s minority shareholders.

The RM14.1 million purchase consideration was arrived at a “willing-buyer, willing-seller” basis after taking into consideration, amongst others, the historical financial performance of ABSS, the value of the proprietary software portfolio and the prospects of ABSS moving forward. The purchase consideration shall be satisfied via proceeds from a proposed private placement exercise of up to 20.0% of its total number of issued shares to third party investors to be identified later, under the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016.

Based on an indicative issue price of RM0.25 per placement share, the proposed private placement can raise gross proceeds of up to RM25.1 million. In addition, the proceeds have also been earmarked to fund the working capital requirements and the estimated expenses associated with the placement exercise.

Based on the SSPA, the minority shareholders, namely Paul Alistair Jennings, Fox Equities Pty Ltd and Lum Chong Eu will dispose 117,470, 38,220 and 6,615 ordinary shares, representing 22.34%, 7.27% and 1.26% interest in ABSS respectively.

ABSS is a developer and a leading supplier of ABSS-branded financial management and accounting software that supports the Asian small and medium enterprises (“SMEs”), and cloud-based accounting product, namely Financio, catering for start-ups and entry level SMEs. Censof initially acquired ABSS back in 2015 and is presently holding a 58.20% equity interest in ABSS. Following this transaction, the stake will increase to 89.07%, while the remaining minority interest is held by Paul Alistair Jennings (5.90%) and Rhys Brown (5.03%).

“ABSS is well-established and widely known as the market leader amongst the SMEs in Singapore and Hong Kong. The company has delivered continuous strong growth and contributed to Censof’s earnings since our initial acquisition in July 2015. We are pleased to have reached this agreement (with the minority shareholders) that essentially increased our equity interest in ABSS to over 89%.”

“The acquisition is in line with our strategies and is a compelling opportunity for us to expand our business in the SME segment, as well as strengthening our footprint in the Asian market. We look forward to benefit from the upside and robust prospects that ABSS holds and are confident that this strategic investment will provide Censof with sustainable profitable growth and concurrently accelerate our position in the SME market within the Asian region in the near term. With this said, the proposed private placement exercise is the most cost-effective manner for us to raise funds without incurring interest expenses as compared to bank borrowings,” said Ameer Shaik Mydin, group managing director of Censof.

“ABSS is delighted to recognise increased investment by the Censof group. Following a strong financial performance the past 12 months, this investment will ensure ABSS is well placed to deliver future growth and accelerate SME Accounting automation across South East Asia,” said Rhys Brown, chief executive director of ABSS.

Kuala Lumpur, 6 January 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, through its wholly-owned subsidiary, Century Software (Malaysia) Sdn Bhd (“Century Software”) has accepted the Letter of Award from the Ministry of Finance (“MOF”) to provide maintenance and support services for the Malaysian government’s budget management information system, MyResults.

The contract, which is valued at RM10.12 million is for the tenure of twenty-four (24) months from 1 January 2021 to 31 December 2022.

“We are honored to be entrusted by MOF to be the provider of the maintenance and support services for MyResults on the Outcome-Based Budgeting for the government of Malaysia. This project was developed by Century Software for the MOF and was completed back in May 2019. Following the completion, we were awarded with the maintenance and support services in December (2019). Today, we are proud that we are once again being entrusted to provide the same services for another 2 years. We truly appreciate the confidence which MOF has placed in us as this fundamentally testifies our technical capabilities and deep expertise to deliver the end results. Being an innovative technology company, we will continue to enhance our solutions and systems in response to evolving technologies, going forward,” said Ameer Shaik Mydin, group managing director of Censof.

MyResults is an Outcome-Based Budgeting platform, of which high-level national strategies are linked to specific budget programmes and activities. This aims to improve the government’s resource management endeavors while enhancing transparency and accountability. As this budget system is integrated across the various ministries, government officials are able to plan their budgets more effectively.

Moving ahead, Century Software continues to strive for excellence in their products offerings. Over the last three (3) months, the Company has successfully secured three (3) new Government Resources Planning (GRP) contracts with the Board of Quantity Surveyors Malaysia, Yayasan Guru Tun Hussein Onn, and the Medical Device Authority with the total contract sum of RM1.38 million. In addition, Century Software has also secured upgrades services for its existing clients, namely the National Visual Arts Development Board, Lembaga Juruukur Tanah Malaysia, Malaysia Productivity Corporation, Bintulu Port Authority, Lembaga Pelabuhan Kuantan, and Railway Assets Corporation, bringing the total contract sum to RM4.69 million.

Moneysave chief executive officer Vincent Soh says investors are yielding average returns of 13.96 per cent per annum with an average tenure of 2.3 months. Most notes were subscribed in less than 12 hours.

KUALA LUMPUR: MoneySave has crowdfunded its 100th investment note on November 27 with a total of RM7.68 million invested since its launch seven months ago. Moneysave is a peer-to-peer crowdfunding platform registered with the Securities Commission. “Investors are yielding average returns of 13.96 per cent per annum with an average tenure of 2.3 months. Most notes were subscribed in less than 12 hours,” Moneysave chief executive officer Vincent Soh said in a statement.  With its “world’s first risk reduction” incentives, MoneySave said it had been able to maintain a zero per cent default rate for the last 100 investment notes that it had hosted and disbursed.

“Typically investors yield was between 7.50 per cent and 16 per cent per annum with tenure of investments between one to four months only. Our credit team led has been extremely careful in approving the deals as we target to maintain the lowest default rate in the industry i.e. zero per cent!” quipped its chief credit officer Eddy Lam, who has more than 35 years of credit and risk management experience with Hong Leong Bank Bhd, Standard Chartered Bank, DBS Bank, RHB Bank Bhd and Malayan Banking Bhd.

MoneySave said it focused on the digital e-commerce supply chain and also the suppliers and contractors of the government, ministries, agencies and government-linked companies as well as companies such Telekom Malaysia Bhd, Tenaga Nasional Bhd, Sime Darby Bhd, Maybank, Petronas, Axiata Group Bhd, Maxis Bhd, Public Bank Bhd and other Bursa Malaysia’s top 100 companies.

“We are here to complement the various government initiatives such as under Malaysia’s Prihatin Rakyat Economic Stimulus Package, Bank Simpanan Nasional, Tekun Niaga Financing Scheme, Soft Loans for SMEs, Penjana SME Financing, SME Bank, Mara, Special Relief Facility by Bank Negara Malaysia, Credit Guarantee Corporation, Syarikat Jaminan Pembiayaan Perniagaan and SME Corporation,” Soh said

KEY HIGHLIGHTS
· Q2FY2021 revenue grew by 16.7%.
· PAT subsequently increased by over 15-fold.
· Disposal of 117.1 million Dagang Nexchange Berhad shares contributed to PAT growth.
· Maiden contribution from newly acquired 51% stake in Netsense Group.
· Secured more than ten (10) new cloud-based financial management solution contracts from the Government and Commercial sectors.
· Improvement in its gearing ratio to 0.004 times as compared to 0.40 times in previous financial year end as at 31 March 2020.

KUALA LUMPUR – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, reported an over 15-fold surge in profit after tax (“PAT”) to RM4.8 million for the second quarter ended 30 September 2020 (“Q2FY2021”) as compared to Q2FY2020’s RM0.3 million. The PAT growth was partly attributed to a RM2.1 million gain on the disposal of its stake in Dagang Nexchange Berhad completed during the quarter. Revenue for Q2FY2021 saw a 16.7% increase to RM18.0 million from Q2FY2020’s RM15.5 million.  The higher revenue for the current quarter was mainly attributed to the higher contribution from its Government – Financial Management Solution and Commercial – Financial Management Solution segments, which also includes contribution from the Netsense Group, which was acquired earlier this year.

For the first half of FY2021, the PAT’s 492.8% YoY growth was, amongst others, attributed to the RM8.9 million gain on fair value adjustment on quoted investment recorded in Q1FY2021.

“We are very pleased with our second quarter results which was a spill over from the first quarter’s commendable performance. We operate with a highly focused management team, thus providing us with the best opportunities to generate stable operating revenue and earnings, as we continue to secure projects, both on the government and commercial front. In view of this, we have since signed more than ten new cloud-based financial management solution contracts and have successfully secured over five thousand subscribers under our SME accounting solutions (Financio). Moving forward, amid the current COVID-19 pandemic, we will remain cautious of the challenging economic landscape.” said Ameer Shaik Mydin, managing director of Censof.

Kuala Lumpur, 28 September 2020 – Censof Holdings Berhad announced today its joint venture with Green Packet Berhad into integrated payments and fintech solutions through T-Melmax Sdn Bhd, a payment processing technology company owned by Censof Holdings Bhd, a company that specializes in financial management software solutions.

The acquisition also marked the establishment of a new joint venture between Censof Holdings Berhad and Green Packet Berhad as they worked together towards a joint vision of transforming T-Melmax into a digitally driven, real time multi-layer reporting preferred payment gateway service provider. Their move is strategic as they will be able to fill the gap in the market for SMEs, state government programs and enterprises who are looking for a one stop provider that is able to combine the power of real time cashless payments and accounting into a truly integrated seamless solution with end to end financial reporting analytics.

Established in 2002, T-Melmax Sdn Bhd focused on digitally automating and the simplification of handling and processing of bulk payment, bulk collection and other types of payments. Together with Green Packet’s innovative payment solutions, we believe we could provide a one stop payments and collections solution to our large base of financial management systems in government agencies and SME’s in Malaysia, Singapore and Hong Kong.

Censof Group Managing Director, Encik Ameer Shaik Mydin said, “The need for Digital payments is a norm in today’s world. We often hear e-payments or electronic wallet becoming the core of daily business operations. The combined strength between T-Melmax and Green Packet will ensure delivery of digitalized strategies, products, and services in supporting our new digital Malaysia, especially in these unprecedented times of rapid change that require us to innovate faster more than ever.”

“Head of Treasury, CFOs, financial leaders, and accounting teams everywhere need to strategically implement different digital tools as soon as possible to reap the rewards of greater productivity, efficiency and value-add for their organizations. T-Melmax has been a trusted provider for various government and agencies for various statutory payments and this partnership will help both companies leverage complementary strengths and bring greater value to our combined base of customers,” said CC Puan, Group MD of Green Packet.

“Digital payments is the core need of every company. The combined strength of T-Melmax and Green Packet will seed further digitalization strategies to a new digital Malaysia, in line with the government initiative towards digital transformation”, added Giritharan Nagalingam CEO of T-Melmax.

Censof Holdings Bhd and Green Packet Bhd are members of the GAIN programme, facilitated by the Malaysia Digital Economy Corporation (MDEC) to catalyse the expansion of Malaysian tech companies to soar on the global stage.

“This joint-venture demonstrates the muscles of our GAIN network and homegrown tech leadership. MDEC commends Green Packet and Censof for working collaboratively to create solutions that accelerate business automation and digitalisation to boost the growth and business footprint of local companies. We look forward to more of such partnerships to augment Malaysia’s pursuit to be the Heart of Digital ASEAN,” said Gopi Ganesalingam, Vice President of MDEC’s Global Growth Acceleration Division.

Censof and Green Packet’s continuous focus as key digital financial services platform providers on empowering the masses will further help to drive an inclusive cashless agenda across different communities, from instant disbursement of funds for government aid/benefits to powering small merchants and student communities. This strategic collaboration between Censof and Green Packet will look towards enabling every individual to thrive with life-improving digital innovation.

KUALA LUMPUR, May 22 (Bernama) — Asian Business Software Solutions Pte Ltd (“ABSS”), a 58%-owned subsidiary of Censof Holdings Berhad (“Censof”) has entered into a partnership with DBS Hong Kong. Under this partnership, SME clients of DBS Hong Kong will be provided with Financio, an all-in-one cloud based accounting software designed for small businesses.

Censof Group Managing Director, Encik Ameer bin Shaik Mydin said, “We are pleased to be working together with DBS, a leading financial services group in Asia with a presence in 18 markets. This partnership is timely as more SMEs are looking to embark on their digital transformation journey, in view of the current Covid-19 pandemic outbreak. Integration between a DBS business account and Financio can be done digitally without the need to visit any branch nor fill in any paper forms.”

By integrating a DBS business account with the platform, DBS Hong Kong SME clients will be able to transfer their data to Financio securely and automatically every day.

SMEs will get real-time reports, automated book-keeping, invoice-purchasing and management of cash flow reports. This will equip SMEs with true efficiency and productivity gains, so that they can focus on growing their business.

There will be in-app support from Financio, a Cantonese-speaking help desk, and a Traditional Chinese and English interface.

Chief Executive Officer at ABSS Pte Ltd, Mr. Rhys Brown said, “We are excited to extend our regional partnership to include DBS Hong Kong. With over 100,000 customers already in Hong Kong, we understand the challenges SMEs face. Limited access to capital, workforce shortages, the pressure to sustain and grow both domestically and globally are all part of the daily struggle. Now more than ever, SMEs are looking for local, cost-effective solutions to streamline business processes and ensure good cashflow visibility. Our strategic partnership delivers an unabridged offering that will enable SMEs to save time and money – resulting in greater business prosperity.”

Alex Cheung, Managing Director and Head of Institutional Banking Group, at DBS Hong Kong, said. “As a leader in SME banking, DBS Hong Kong fully understands the needs of SME customers, particularly during the current challenging environment. With many small business owners spending countless hours manually importing and reconciling their bank statements every month, we believe our pioneering partnership with Financio helps equip our SME customers with true efficiency and productivity gains, so that they can focus on growing their business.”

Incentive to support SME’s digital transformation
DBS Hong Kong customers subscribing to the Financio Premium service can enjoy a 30-day free trial period, and a nearly 20% discount off the price of Financio’s annual plan when subscribing to the service during the trial period.

PETALING JAYA: Censof Holdings Bhd’s unit has bagged a government contract worth RM4mil from the Inland Revenue Board (IRB).

In its filings with Bursa Malaysia, the company said its wholly owned subsidiary, Century Software (M) Sdn Bhd, had accepted a letter of award from the IRB to implement an accounting software system.

The contract was for a period of three years, commencing from March 1, 2020 to Feb 28, 2023.

Censof said the contract is expected to contribute positively to its earnings per share and future earnings. It added that the job is not expected to have any material effect on the issued and paid-up capital, substantial shareholders’ shareholding, net asset per share and gearing of the company and its subsidiaries.

February 6th, 2020

LETTERS: In 2019, Prime Minister Tun Dr Mahathir Mohamad launched the 2030 Shared Prosperity Vision (SPV) as an effort to make Malaysia a country that is developing sustainably with fair economic distribution as well as equitable growth at all levels of incomes, ethnics, regions and supply chains by 2030.

The 2030 Shared Prosperity Vision which is the primary strategic policy document that will guide the restructuring priorities for Malaysia’s development was used as a baseline to identify the technology companies at the cutting edge of empowering or delivering shared prosperity in Malaysia.

To make the list, companies needed to demonstrated that they were able to participate in a meaningful manner towards the shared prosperity vision enablers, namely effective institutional delivery, financial capital, governance and integrity especially related to increasing transparency, and lastly was the use of Big Data.

Coupled with a positive contribution to the Key Economic Growth Activities (KEGA) of digital economy, industrial revolution 4.0, advanced & modern services together with a history of innovation and delivering e- government projects that have had a direct impact on the community or business ecosystem.

Identifying homegrown leadership has become increasingly important as according to Malaysian government data technology adoption still remains low in the services industry with a rate of uses of just 20% in 2018 while the government’s target is 30% by 2030.

This year’s list has highlighted those companies best positioned to drive this vision from the private sector.

Big Dataworks is a Malaysian grown tech company providing solutions in data supply, data analytics, management of information and physical documents storage. The innovative approach to data driven business solutions has made it possible to manage a nationwide user base of over 200,000.

The nimble solution provider has delivered higher productivity, better value for consumers, and the next wave of growth in the business through big data solutions to a wide range of stakeholders. The ability delivering directly with to the public, government, government linked corporations and the private sector has ensured that Big Dataworks makes this year’s list.

The company has a strong track record of “eco-system changing” delivery to government that is “a positive disrupter” appointed by the Companies Commission of Malaysia (CCM) or Suruhanjaya Syarikat Malaysia (SSM) as its technology and service provider for the SSM MYDATA Services. MYDATA has become the go to source for legitimate and legal information on companies incorporated or registered in Malaysia.

MYEG Services Berhad or MYEG builds, operates and owns the electronic channels that deliver services from various Government agencies, including DBKL, Jabatan Insolvency Malaysia, Jabatan Pengangkutan Jalan, Polis Diraja Malaysia, Tenaga Nasional Berhad and Telekom Malaysia to Malaysia citizens and businesses.

Its first wave of solutions were deployed between 2000 to 2010 for the Government to Citizen (“G2C”) and Government/Enterprise Solution (“GES”) categories. They make the list because over the past 5 years MYEG has invested in deploying next generation technologies based on The Internet of Things (“IoT”) solutions coupled with big data analytics that will bring significant improvements to overall quality of life in Malaysia.

Commerce Dot Com Sdn. Bhd. Established in 1999 Commerce Dot Com Sdn Bhd (CDC) was incorporated for the fundamental purpose to develop and operate an electronic procurement system for the Government of Malaysia, known as ePerolehan. This initiative was undertaken with the intention to steer the nation’s commerce into the forefront of the digital economy.

Currently CDC boasts ePerolehan as one of the largest Government-to-Business (G2B) marketplace in the world with more than 30,000 government users and 180,000 suppliers throughout Malaysia and over 2 million catalogue items available online. Procurement via ePerolehan has grown tremendously to over 2 million transactions valued at more than RM20 billion annually.

POS Digicert made the list due it ability to deliver the latest convergence of services, the public will no longer be required to go to SSM offices to obtain documents with “Certified True Copy” CTC stamp. The collaboration between Big Dataworks, SSM and POS Digicert has allowed digitally certified documents can now be purchased online via MYDATA SSM portal by consumers.

Government agencies, the likes of Immigration, Road Transport (JPJ) and Municipal Councils have implemented the use of these documents for official submissions. Digital CTC is a transformation of the manual document authentication service through a combination of statutory imaging technology, digital signature and Quick Response Code (QR code) with security features

Censof Holdings Bhd established in 2008 as a technology investment holdings company specializing in financial management software solutions.

Since then, Censof has expanded its portfolio of financial services solutions to include e-payment gateway services and wealth management software solutions.

Censof acquired a major accounting solution business that cater to SME business market. Through its subsidiaries, the technology solutions are widely used in public and private sectors in Malaysia, Singapore, Indonesia and Hong Kong. In January 2011, the Group was listed on the Main Market of Bursa Malaysia.

TM One made the list as connectivity and security is a core element of a trust based digital economy. TM ONE is positioned as the only enabler of a Hyperconnected Ecosystem for business’s digital journey.

As the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM) Group the people driven organisation delivers seamless and complete digital solutions, processes and state-of-the-art technology. With the mission to fully transforming Malaysia into a digital nation in line with TM’s philosophy of “Life Made Easier” for a better Malaysia.

Malaysia Digital Economy Corporation Sdn. or MDEC was established in 1996, it was the Government’s response to the then new concept of “Digital Economy”. Today, the global Digital Economy is estimated to be worth USD3 trillion, and MDEC continues its role to organise and lead Malaysia’s Digital Economy forward.

It’s on the list as a key ecosystem enabler. MDEC has driven significant digital transformation and adoption across the public and private sectors in Malaysia since its establishment, including the formulation of policies and coordination of agencies. The development of a futureproof workforce to grow the Digital Economy ecosystem and the creation of global champions to increase contribution from the Digital Economy to GDP.

Nordin Abdullah

Founding Chairman MGBF

The views expressed in this article are the author’s own and do not necessarily reflect those of the New Straits Times

February 4th, 2020

The new partnership offers an electronic invoicing solution that helps small and medium enterprises save time, reduce errors and improve business growth. ABSS users can become Peppol-ready instantly through their existing ERP and fully compliant in all their trading transactions.

ABSS and Pagero signed their new strategic partnership in 2019. The agreement combines the ABSS ERP solution focused on small and medium enterprises with Pagero’s open, cloud-based business network for automated exchange of business documents across Accounts Payable and Accounts Receivable processes.

Since entering the partnership, ABSS and Pagero teams have worked in coordination with IMDA in Singapore to achieve Peppol accreditation; the companies now offer a fully complaint solution to meet IMDA standards. In parallel, the partnership will allow both companies to offer their integrated solutions to the regional market.

Rhys Brown, CEO of ABSS says, “ABSS is very excited to partner with Pagero, the leading global e-invoicing service provider. Together we bring improved invoicing efficiency to over 30,000 Singapore SMEs. ABSS accounting solutions combined with the Pagero technology framework will help SMEs save time, reduce errors and improve business prosperity in Singapore.”

Luis Ortega, Managing Director for Middle East, Africa, Asia at Pagero states, “In the everchanging world of e-invoicing regulations and governments extending their digital footprint, companies need an agile technology platform and expert consulting services to maintain local compliance with cross-border operations. Our partnership with ABSS will help their customers across Singapore and Southeast Asia stay compliant in the face of changing regulations and multiple jurisdictions. We are pleased to see how Australia and New Zealand, as well other Southeast Asian countries, have adopted or are looking into Peppol as their standard for e-invoicing as this will facilitate interoperability in cross-border trading processes.”

For small and medium enterprises operating in the Southeast Asia region, it’s important to prepare for new regulatory developments in the digital trading, tax, accounting and financial reporting landscape – regionally and abroad—in a pragmatic way and at reasonable cost. There is a rising trend pushing businesses, as part of their digital transformation journey, to become digitally compliant in all their trading transactions. The adoption of e-invoicing, seamlessly integrated with their ERP or accounting solutions, will improve business efficiency, quality of data and reduce errors. Businesses will easily meet compliance needs locally and globally while reducing their total operating costs.