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Censof Partners with Insurance Claims Specialist To Develop Online Insurance Portal

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Petaling Jaya, 11 November 2019 – Financial management solutions provider, Censof Holdings Berhad (“Censof” or “the Group”), is partnering with a specialist in insurance advisory and claims services to develop an online insurance comparison portal to provide users with a more transparent and hassle-free experience when purchasing insurance.

The collaboration was formalized with the signing of a teaming agreement between Censof’s wholly owned subsidiary, Censof Maal Sdn. Bhd. (“Censof Maal”) and OSCA Sdn. Bhd. (“OSCA”), which is primarily involved in providing insurance advisory services, as well as being a third-party administrator of insurance claims services.

The teaming agreement was signed at a ceremony held at Censof’s headquarters in Petaling Jaya where Censof Maal was represented by En. Ameer Shaik Mydin, Censof Group Managing Director while OSCA was represented by its Director, Ms. Shadhana Sekaran.

The partnership will see Censof Maal and OSCA working together to develop an online insurance comparison portal whereby users will be able to compare and purchase life, general and medical insurance from various insurance providers at a competitive rate. The collaboration will also look into offering claims handling services to provide users with a hassle-free claims process.

Censof Group Managing Director, En. Ameer Shaik Mydin said, “We are excited to include the insurance portal as part of our extensive financial management services. Backed by Censof’s expertise in technologies such as blockchain, artificial intelligence, big data analytics and OSCA’s in-depth knowledge of the insurance industry, we are confident in delivering a portal that truly serves the need of today’s consumers.”

“The big idea of this platform is to offer consumers an option where they are able to research and compare insurance products with the information provided by the respective insurers. The direct engagement will fast-track the buying and claiming process as consumers will have complete control of choosing the insurances which suit them best, without much dependence on agents. In turn, it will be a safe haven for consumers as the portal will help eliminate misleading dissemination of information.”

“Our key markets will be the private and public sectors in Malaysia, Singapore and beyond. With the diversified product offerings in the pipeline, we look forward to filling in the gaps and re-imagining the world of insurance with OSCA,” he concluded.

OSCA Director, Ms. Shadhana Sekaran said, “This is an opportune time for such strategic tie-ups with like-minded partners such as Censof as the insurance industry is going through a digital transformation. The online insurance space in this region has huge untapped opportunities and we hope to be one of the first movers to utilize technology to re-define the traditional insurance industry.”

Century Software Awarded Contract From LHDNM Worth RM 34.77 Million

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PETALING JAYA, Oct 3 (Bernama) — Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad has secured a contract for hardware upgrade and license renewal contract worth RM 34.77 million.

The contract, awarded by Lembaga Hasil Dalam Negeri Malaysia (LHDNM) is for a period of 3 years and would commence in January 2020 to 31 December 2022.

Under the terms of the contract, Century Software’s would be responsible for hardware maintenance and software renewal with support services for LHDNM data warehouse system.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: ” Century Software has a long-standing relationship with the LHDNM and this contract will provide us the opportunity to show our continued dedication and commitment to delivering innovative solutions and services to them.”

Century Software leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies) – an initiative by the Malaysian Government to standardize accounting and financial management enterprise solutions used in all its Federal Statutory Bodies.

Century Software provides a range of software and services in areas of accounting, tendering, budgeting, and performance monitoring. Century Software continues to be recognized as the leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies).

“We are honoured to receive this contract award and we are committed to using our extensive supplier relationships and unparalleled service delivery standards to provide the best technology solutions and services to meet and exceed LHDNM expectations,” he added.

For more than 20 years, Century Software has been a leading provider of technology, software and IT solutions that empowers government agencies with their transparency and efficiency.

Century Software Gets RM 8.2 Million Contract From DBKL

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PETALING JAYA, Aug 28 (Bernama) — Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad has been awarded an information and communication technology (“ICT”) maintenance contract worth RM 8.2 million from Dewan Bandaraya Kuala Lumpur (DBKL).

Under the terms of the contract with DBKL, Century Software’s scope of work includes comprehensive maintenance and support services of ePBT Financial Management system in DBKL. The contract also includes refresh of hardware for the system. Duration of the contract will be for one year.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: ” In the current economic condition, it is satisfying that Century Software has been able to sign a contract that provides enhanced visibility to our overall revenue streams.”

Century Software leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies) – an initiative by the Malaysian Government to standardize accounting and financial management enterprise solutions used in all its Federal Statutory Bodies.

“It is our competencies, commendable execution track record and our eagerness to ensure customer delight that have allowed us to offer superior services to our clients. This win further enables us to strengthen our footprint with DBKL. Our mission is to be the trusted technology and capacity provider for our clients and industry for years to come,” he added.

Century Software creates platforms and services for businesses and governments to manage millions of interactions every day for those they serve. They leverage on the power of cloud, mobile and IoT, combined with technologies such as machine learning, robotic process automation, blockchain and artificial intelligence to elevate every interaction, driving modern digital experiences that are more efficient.

ABSS Appoints New Chief Operating Officer

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Asian Business Software Solutions (ABSS), the leading provider of accounting software for small businesses recently announced the appointment of Rhys Brown to the role of Chief Operating Officer.

Rhys who was previously the Group Sales Director for ABSS, a 15-year veteran of the accounting software industry, having held senior management roles with ABSS Ltd spanning China, South East Asia and New Zealand.

Rhys brings a background in technology with a passion for helping small businesses grow and thrive. Rhys is responsible for driving regional relationships with government, financial institutions, enterprise and promoting the small business economy.

Commenting on the appointment, Group Managing Director Ameer Sheik Mydin said:

“On behalf of the Board and everyone within Censof Holdings Berhad, I’m delighted to welcome Rhys to this role at such an exciting point in our journey. Rhys brings a significant amount of experience and expertise to the Group. We are thrilled to have a steady hand at the operational helm as we continue to expand our product line and broaden our customer base. Rhys will build on the progress we have already made in; developing our talented team, improving customer journey and growth in coming years.”

“On behalf of the employees of ABSS and the entire Censof Holdings Group, we would like to thank Grant most cordially for his outstanding services and his tireless commitment. We wish him all the best as he steps down to spend more time with his family.”

Century Software Launches Game-Changing Government Resource Planning Solution

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Petaling Jaya, June 26th, 2019 – Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad today announced the official launch of its integrated Government Resource Planning (GRP) solution called GRP 9.0.

GRP 9.0 will enable government agencies to transform and achieve efficient service delivery, participation and governance. It is a web-based comprehensive resource planning solution that supports management of finance, human resource, assets and e-procurement, all integrated in one product, allowing related operational elements to work together in the most eff¬ective manner.

Century Software is the leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies) compliant standard. With over 20 years of delivering customer focused solutions, Century Software are experienced at helping the Government agencies to take advantage of innovative cloud technology, to improve customer experiences, to increase their own productivity, and to achieve better transparency, accountability, and efficiency among national government agencies.

The GRP 9.0 was designed to meet the needs of Government agencies of all sizes, and provides modern technologies needed to ensure the highest degrees of scalability, reliability, and flexibility.

Century Software Chief Executive Officer, Zainul Ariffin Harun said: “As a key player in this nation’s growth, we are concerned about how to revitalize public administration and services to make them more transparent, proactive, efficient and service-oriented. Our GRP 9.0 helps in centralizing transactional data and results in proper accounting of all financial transactions across the system. It helps in seamless integration and ensures completeness of data.”

Towards the road to becoming a digital nation, the new GRP 9.0, will be made available to all national government agencies within the next month. The integrated platform will provide a sustainable solution that is extensible, flexible and adaptable to reforms as well as suits a wide range of public financial requirements.

The newly launched GRP 9.0 can be accessed through devices, such as mobile phones and tablets as well. Users can now access the system over the Internet using a standard browser or dedicated mobile apps. Being able to access your business software remotely means staff and field service personnel can capture and enter data wherever they. GRP 9.0 is also a cloud enabled solution.

“The solution helps government agencies increase public administration efficiency and eventually, providing better service quality to citizens. The solution also helps improve accountability across government organizations, and provides the ability for centralized decision-making, based on consolidated real data and reports”, Censof Group Managing Director, Ameer Bin Shaik Mydin.

MOU Signing at Politeknik Seberang Perai (PSP)

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Politeknik Seberang Prai recently tied the knot of partnership with 13 industries and one academic institution in a Memorandum of Understanding (MoU) Ceremony. This strategic partnership is designed to strengthen the symbiosis and birth forth graduates that are equip in to drive innovation.
This partnership includes nine companies, four self defence association, the Budaya Warisan Melayu Jawi as well as Sekolah Kebangsaan Tasek Gelugor. Acknowledging that Industry 4.0 has already hit Malaysian shores, this partnership will prepare students to upskill and grow in parallel with the upcoming technological growth. Elements of IR4 highlighted are critical thinking and problem solving, communication as well as collaboration and creativity. With benefits to approximately 4600 recipients revolving around 12 programs, this partnership would benefit all levels involved.

List of Industry Partner

1. Agensi Pekerjaan Job Focus Sdn Bhd
2. Knowledgecom Corporation Sdn Bhd
3. Entohgiene Service Sdn Bhd
4. Leader Plastic Packaging
5. Lapangan Terbang Sultan Abdul Halim
6. FBX Enterprise
7. Roda Prestasi Sdn Bhd
8. Penang Port Sdn Bhd
9. Sinar Bumi Didactic Enterprise
10. Persatuan Silambam Pulau Pinang
11. Persatuan Taekwon-do Pulau Pinang
12. Persatuan Kabaddi Pulau Pinang
13. Perrsatuan Seni dan Budaya Warisan Melayu Jawi (Warisam Alam)
14. Sekolah Kebangsaan Tasek Gelugor

RHB Launches Malaysia’s First SME Connected Banking Ecosystem

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KUALA LUMPUR (May 23): RHB Banking Group (RHB) has launched Malaysia’s first-of-its-kind SME connected banking ecosystem, featuring the enhanced RHB SME e-Solutions platform.

This RHB SME e-Solutions platform offers small and medium enterprises (SMEs) complete interoperability to achieve greater business efficiency through its first collaboration with Financio, a business solutions partner offering cloud-based accounting software which will eliminate the need for SME customers to navigate multiple systems.

Under the integrated Financio accounting software solutions, SMEs will benefit from the following;

• Direct integration with third party accounting software using secured Application Programming Interface (API)

• Real-time view of their bank account balance, within the accounting software

• Facilitation of payment initiations directly from SME customers’ accounting software

• Automated reconciliation process by leveraging on direct bank feeds

• Request for on-demand/ periodical bank account statements from the accounting software as well as view their financial accounting dashboard within the banking platform

The enhanced RHB SME e-Solutions is one of the components of the RHB SME ecosystem providing SME customers with value added features on a single platform that include seamless integration of banking activities.

The RHB SME e-Solutions addresses challenges faced by SMEs in cash flow and financial resource management by integrating RHB Reflex and Financio. RHB Reflex is an online integrated service that combines cash management, trade and payment solutions, designed to cater to the operational needs of SMEs and corporate customers.

“With enterprise system being too complex and costly, RHB has developed a connected banking ecosystem that simplifies cash flow and financial management for our SME customers. In rolling out this platform, RHB is the first bank to use Application Programming Interface (API), to integrate RHB Reflex with a financial accounting system.

“Currently, there are 90,000 SMEs within our SME ecosystem, of which we are targeting to have at least 10,000 SMEs participate in the SME e-Solutions by 2020,” said Datuk Khairussaleh Ramli, Group Managing Director, RHB Banking Group.

“RHB’s approach towards SME Banking is to provide a holistic ecosystem that makes everyday business for SMEs simple and convenient, thus improving their productivity and enabling them to further improve their business. This is in line with our FIT22 strategic road-map which outlines a structured direction in boosting RHB’s penetration of the SME segment in Malaysia and become an SME ecosystem bank by 2022,” he added.

Over the next 12 months, RHB will introduce more business-friendly features on SME e-Solutions to enable customers to make direct payment through FPX and DuitNow. RHB will be expanding tie-ups with new business solutions partners to include point-of-sale solutions, e-wallet operators, payroll providers and inventory management solutions.

RHB SME ecosystem offers a line-up of cloud-based business solutions aimed at empowering SMEs with versatile solutions comprising the following;

• RHB SME e-Solutions – all-in-one solution designed for SME customers including Accounting Software, e-Point of Sale and Human Resource Management.

• RHB SME Online Financing and Online Business Current Account Opening — a customer self-initiated online loan application portal that allows small businesses to apply for financing in a few minutes and receive cash within a few days.

• RHB Financial Supply Chain (FSC) – offers business solutions that optimize working capital and provide liquidity to business through ecosystem financing by which suppliers and retailers can perform payment for goods and services through RHB’s platforms.

• RHB Biz Power — a business lending solution which provides SMEs the flexibility to obtain financing with a customized combination of Term Loan, overdraft (OD) and trade facility based on needs.

Century Software to Acquire A Majority Stake in Singapore Based ERP Software Provider

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PETALING JAYA, May 16 (Bernama) — Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad is pleased to announce that it had entered into a Share Sale and Purchase agreement to acquire 51% stake in a Singapore-registered enterprise software applications and services provider, Netsense Business Solutions Pte Ltd. This timely move will help Century Software to expand its strategic footprint to the commercial market and its product  portfolio while underpinning the growth strategy especially in its cloud ERP business.

Founded in 2013, Netsense Business Solutions is the fastest growing ERP software provider in the Singapore enterprise market, and currently has offices in Singapore, Kuala Lumpur and Jakarta. The company currently supports around 90 reputable clients across Singapore and in Malaysia. Netsense provides software and IT consulting services to more than 15 industry verticals.

Netsense Business Solutions offers the widest array of business solutions ranging from Acumatica Cloud ERP Software, Intermediate Accounting Software, CRM, HR Solutions, Payroll, Project Management, Business Intelligence Tools, Customised Dashboards, Mobile Apps and e-Commerce Solutions.

Acumatica is the fastest-growing provider of Cloud ERP software that is feature rich with seamless integration. Built on the world’s best cloud and mobile technology, it’s adaptable and integrated applications deliver modern solutions for ERP. Cloud-based ERP systems are becoming more relevant for SMEs in recent years, due mainly to the possibility of getting started at a low cost and a small scale. Many SMEs adopt information technology solutions, such as ERP systems, to efficiently manage their business processes and to collaborate with suppliers, partners, and customers. Therefore, the successful adoption and deployment of ERP systems are crucial for the competitiveness and survival of these organizations.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: “We are extremely excited about our investment in Netsense Business Solutions. This is a logical step in terms of meeting the rising expectations of clients in the cloud ERP market as Netsense aligns well with Century Software’s strategy to grow its cloud and software business”.

Century Software currently has a long-term OEM partnership with Acumatica Inc. Using their state-of-the-art Acumatica ERP and xRP platform, Century Software were able to develop customisable platforms to suit customer needs for various markets. Century Software will also be launching an updated version of their Government Resource Planning (GRP) system soon.

“SMEs are key to strengthening productivity, delivering more inclusive growth and adapting to the major transformations of our time. We believe this can be achieved through our innovative business solutions. It is imperative for SMEs to embrace digital revolution swiftly to boost growth”, said Netsense Director – Business Development, Abdul Rehman.

Century Software Announces Completion of OBB Project with MOF

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Putrajaya, May 2nd, 2019 – Century Software (M) Sdn Bhd, a subsidiary of Censof Holdings Berhad announced today the completion of a large-scale project that has transformed and represents an evolutionary step in Malaysia’s implementation performance based budgeting.

Across the world, performance-based budgeting has been a main agenda of reform for most ministries of finance. In many countries, however has been overly ambitious, and as a result difficult to administer.

In Malaysia, some first steps to improve performance-based budgeting have already been taken as the government has undertaken a more outcome-based approach to the annual budget process. By using outcome-based budgeting (OBB), Malaysia has helped successfully link high-level national strategies to specific budget programs and activities using a common results framework to define accountability.

Budget activities are mapped to a single program to enhance transparency and accountability. To support the implementation of OBB, Ministry of Finance embarked upon development of an integrated IT platform called MyResults, an online information system that captures the mapping of programs or activities and the complete set of results frameworks. This online application is intended to eventually serve as a complete, integrated results and budget management information system.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: “Outcome based budgeting requires a shift in mindset from a short term ‘outputs’ mentality to a medium term focus on economic and social outcomes. Outcomes are harder to deliver than outputs, and by their nature will be publically communicated, requiring resolve from leaders to see the transition through.”

The main emphasis under the OBB approach will be the effectiveness and the overall impact of projects and programmes, as opposed to expenditure and output. The focus on results and outcomes will now allow for better resource management and this will subsequently provide greater value for money in terms of public investments and reduce ad-hoc spending.

“This approach aims to shift the conversation from “How much did you spend?” to “How well did you spend it?” or “What did you achieve with it?”, he added.

The aim of OBB is to assist Ministry of Finance in reducing wastage and ensure that the nation’s resources are optimised and allocated according to its priorities. A formal project completion ceremony was held with brief remarks from officials of Ministry of Finance and Century Software (M) Sdn Bhd.