The Center of Applied Data Science Engages with Malaysian SMEs to Manage Revenue Leakage
KUALA LUMPUR, 26 SEPTEMBER 2018 – Studies have shown that 1% to 5% of a company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) is subjected to revenue leakage. Often going unnoticed, revenue leakage can significantly impact organisations, especially growing businesses such as SMEs. Organisations can potentially lose revenue, record lower wins or even overpay clients.
The Center of Applied Data Science (CADS), a one-stop platform and center of excellence for data science in Malaysia and around the ASEAN region, believes that revenue leakage can be detected, repaired and recovered. More so, future leaks can be avoided using specialised and ultimately effective approaches.
With this in mind, CADS organised an exclusive breakfast forum for SMEs focusing on the SME landscape and challenges in Malaysia, how revenue leakages impact growing businesses, real world case studies as well as solutions to stop revenue leakages and directly improve profitability.
Speaking at the breakfast forum, Sharala Axryd, Founder of CADS said that managing revenue leakage is undeniably a complex business challenge involving numerous internal stakeholders, various operational disciplines and functional experts. “This is especially true for SMEs in Malaysia, which are known as the backbone of our economy. Recently, the Ministry of Entrepreneur Development shared its aim to strengthen the economic contribution of SMEs which currently stands at 36% of the country’s gross domestic product (GDP). To effectively do so, it is vital that SMEs are able to manage revenue leakage and improve their bottom-line. Generally, a 1% improvement in EBITDA requires a 10% increase in revenue. Thus, the funds recovered from managing leakage contributes directly to a company’s bottom-line, since it does not need to be offset by additional revenue.”
“Our data scientists are capable of helping dynamic and growing businesses across multiple sectors and industries by identifying and implementing appropriate strategies, embedding effective controls, policies and specialist capabilities to provide tangible business value. Beyond this, we want to highlight the true underlying causes of revenue leakage and provide guidance on what action is really needed to mitigate and prevent leakage moving forward.”
Geared towards SME business leaders and owners, C-suites, innovation leaders and functional business leaders, this two-hour forum is the first in a series of sessions that will be organised by CADS to engage with Malaysian businesses and champion the relevance of data science in an organisation’s quest towards business growth.
“Today, more and more organisations are opening up their doors to big data and unlocking its power. Data science can add value to any business who can use their data well. Our aim is to work with organisations in Malaysia to power their business value and help them realise that no organisation is too small to be data-savvy,” Sharala Axryd concluded.
About The Center of Applied Data Science (CADS)
Established in October 2015, The Center of Applied Data Science was set up to respond to the critical need for real world qualified data scientists and data professionals in the face of digital disruption. Its aim is to nurture a new generation of Data Professionals who can meet and exceed the needs of today’s data disrupted world through an accelerated and rigorous program of best-of-class mentorship that will solve real business challenges within organisations, as well as real-world situations outside. The Center of Applied Data Science partnered with The Data Incubator, New York, US to bring ASEAN’s first Data Science accelerator program to transform the brightest science and engineering talents in South East Asia into qualified, top-notch quality data scientists. Further information about The Center of Applied Data Science is available at www.thecads.com
This Press Release was published on the following sites;
- The Edge Markets – SMEs losing up to 5 pct of revenue for not digitising data management: expert
- Bernama – SMEs losing up to 5 pct of revenue for not digitising data management: expert
- Berita Harian – PKS hilang pendapatan enggan guna data besar
- Borneo Post Sabah – SMEs lose 5 per cent of revenue for not automating data