PETALING JAYA: IT software and platform provider ARB Bhd has launched its self-developed cloud company secretary (CoSec) platform “ARB Cloud Cosec” to fully automate the existing company secretary services.
The ARB Cloud Cosec features an integration of all companies in Malaysia that enable the services to be targeted at company secretary firms, public listed companies (PLCs) and small and medium enterprises (SMEs).
The rollout of ARB Cloud Cosec will help to create a sustainable recurring income of RM100 million per year for the group. In the near term, ARB group aims to capture 10% of the PLCs market and another 20% of the SMEs market.
ARB executive director Datuk Seri Larry Liew Kok Leong (pix) said ARB Cloud Cosec is a self-developed cloud company secretary platform, contributed by ARB in-house technical team to provide user-friendly solutions to target companies in Malaysia.
“We are confident that such a cloud-based product can generate a lucrative income for our group in the coming years. Through this crisis and shift in trend, we saw a business opportunity in the company secretarial services, which traditionally would have involved a lot of hard copy filings, signing, storage of documents and other manual labour,” he said in statement.
Liew said there is a huge gap in digitalisation in CoSec services as most continue with the traditional method, which usually involves a lot of manual work. This, however, has changed during the pandemic.
“This is an untapped industry in Malaysia as there are not a lot of cloud solutions that cater for CoSec needs. During this pandemic, we have seen a lot more enquiries in relation to solutions for cloud-based CoSec, which is why we are positive that the demand would be strong. Our target market will be the existing company secretary firms, SMEs and PLCs,” he said.
The need for CoSec services among corporates, SMEs and company secretary firms, as well as the features and benefits of ARB Cloud Cosec will keep demand strong. ARB may roll out to other countries to tap the regional business opportunities.
The key features include automate manual signing process for approval, easier collaboration with clients, the Cloud feature that enables access to information at any time and anywhere, as well as the instant Certified True Copy of documents.
“With these features, our clients will benefit from the ease of usage, centralised information on Cloud platforms that enables access from anywhere and at any time, automatic digital backup copies and security, data automation with high accuracy, and many others.”
Going forward, ARB is in a good position to expand its business regionally, mainly due to the strong demand and the expected 12.4% compounded annual growth rate of the global spending on cloud consumer experience and relationship management.
“Moving forward, ARB aims to focus on Revenue Cloud and will develop a business strategy to maximise cloud opportunities by initiating additional cloud-based products to compliment ARB Cosec solutions. The strong global demand puts ARB in a good position to expand business regionally,” Liew said.
