Malaysia's MDEC partners with big-name consultancies for digital initiative

25 April 2018 3 min. read

Calling in the experts from global consultancies Deloitte, McKinsey and Roland Berger, the Malaysian state agency tasked with promoting the country’s digital economy has launched a digital transformation programme aimed at providing support for local companies.

The Malaysia Digital Economy Corporation (MDEC), a state body set up to promote ICT development and investment in the nation, has launched its Digital Transformation Acceleration Programme (DTAP) initiative in a bid to support Malaysia’s wider goals for world-class technological advancement. Supported by the Malaysia Investment Development Authority (MIDA), the programme seeks to assist home-grown corporations and mid-tier companies in key industry sectors with their digital adoption journeys.

As part of the initiative, MDEC has partnered with the big-time advisories DeloitteMcKinsey and Roland Berger, along with the expert start-up collective Rainmaking and German electronics firm Bosch, to provide DTAP participants with strategic guidance under the Digital Transformation Labs (DTL) banner – in areas such as identifying pain points and opportunities in the digital realm, brainstorming solutions, designing new business models, and steering the digital implementation process.

“Digital disruption is inevitable; it is the way of the world now. It is imperative for businesses to embrace the changes that come with digital innovation. To stay competitive, Malaysian companies must rapidly adapt to the way technology is changing the rules of business and increasing efficiency,” MDEC’s CEO Yasmin Mahmood, said. “However, the digital transformation journey is not an easy road. That realisation has inspired the establishment of DTAP.”

Malaysia's MDEC partners with big-name consultancies for digital initiative

MDEC cites several reasons for what it considers the lagging adoption of digital technologies by Malaysian companies, namely that companies may perceive the space to be too complex and fast-paced, be constrained by budget limitations, or be subject to the shortfall of digital professionals, with the programme in effect aimed at addressing these issues through a clear, structured approach, external expertise, and financial compensation in form of matching MIDA grants.

Mahmood said; “Through this programme, Malaysian businesses will receive support, guidance and be part of an ecosystem that will provide a structured approach to the transformation into the digital world. The goal is to help Malaysian companies become world class entities, and the best way to achieve that is by connecting them with global Digital Transformation Labs. With these global connections, we are able to give companies the global exposure that they need.”

The three big-name participating consulting partners have all in recent times demonstrated their keen focus on the ever-growing digital sphere, along with a commitment to local and regional development in the field. In Malaysia, McKinsey last year acquired the local digital business builder and product development studio VLT Labs, adding to its Digital Capability Centre established in neighbouring Singapore, while Deloitte also launched its Deloitte Digital offering in Singapore along with its Future of Work Centre of Excellence in the city last year.