The National IT Promotion Agency (NIPA), under the Government of South Korea, has published an insightful interview with Saswat Panda, CEO of Quocent, discussing key aspects of Malaysia’s digital economy and the business solutions around various industries existent in Malaysia. The interview delves into Quocent’s services, Malaysia’s unique business landscape, industry trends, success stories, competitive positioning, partnerships, public procurement insights, and advice for Korean companies expanding into Malaysia.
Here’s a summary of the key points discussed:
- Company Overview: Quocent provides comprehensive digital solutions for businesses of all sizes, focusing on ERP solutions using Odoo, bespoke solutions on various platforms, and collaboration on data analytics.
- Malaysian Business Solutions Industry: Malaysia shows a high demand for digital transformation but with a cost-sensitive and community-centric approach. The political ecosystem plays a significant role in business decisions, and the friendly corporate culture facilitates interactions with locals.
- Trends in the Industry: Subscription models and data-driven solutions like analytics and e-invoicing are gaining popularity. The potential shift from Sales and Service Tax (SST) to Goods and Service Tax (GST) may impact business processes.
- Success Stories: Quocent has successfully implemented solutions for HR monitoring, voucher management systems, fintech services, and DevOps support, showcasing its diverse capabilities.
- Competitive Landscape: While facing competition from Indian companies, Quocent differentiates itself through a hybrid service model, talent management, and long-term budget planning for clients. Collaborations with universities and a focus on research and development further strengthen its position.
- Partnerships and Expansion: Quocent is interested in partnering with Korean companies, leveraging its understanding of Korean innovation. It advises Korean companies entering Malaysia to understand the local market, culture, and business environment thoroughly.
- Public Procurement in Malaysia: Foreign companies, including Korean firms, can participate in public procurement by understanding local regulations, cooperating closely with relevant organizations, and positioning themselves strategically.
- Advice for Korean Companies: Thorough preparation, finding the right product-market fit, understanding pricing dynamics, and collaborating with Malaysian institutions like MDEC, MIDA, and MATRADE are essential for successful expansion into Malaysia.
Quocent stands out for its adaptability to diverse cultures and business strategies, fostering collaboration and growth. Saswat’s insights in this interview offer valuable guidance for Korean companies looking to navigate Malaysia’s dynamic business landscape, highlighting Quocent’s emphasis on market understanding, strategic partnerships, and cultural adaptability as key drivers of success.
Here is a link to the copy of the full interview dossier (in Korean language). For an english translated version, kindly contact us.
Quocent and our CEO Saswat Kumar Panda’s profile has been prominently listed as an expert from Malaysia for consultation to South Korean companies under the National IT Promotional Agency initiative. You can find more details about this listing on this link https://www.globalict.kr/cnstApp/cnstAppReqCCDtl.do?menuCode=010200&tceSeq=283. We welcome all our future collaborators, customers and ecosystem enablers to contact us through this link for any new ideas towards collaborations and growth.
