Top 3 Benefits Of Digitising Your Business Processes

Katrina Balan Quiroz

26th November 2021 - 5 min read

With the rise of digital technology and usage in the recent decade, businesses have been steadily adopting technological advancements in their business model to satisfy the consumer demand for high quality, digital-based products and services such as e-commerce, contactless payments, digital financial services, and many more.

With the necessary digital shift and the need to go mobile, businesses would also have to re-evaluate their day-to-day operations, notably their daily banking operations, to move forward in this fast-moving digital economy.

To support these businesses, an ideal business banking solution would have to offer simplicity, ease of access, and most importantly, security.

Transform Digitally With The Maybank2u Biz App

One of the prominent business banking solutions in the market that businesses can consider would be the recently launched, Maybank2u Biz App.

The application was made in conjunction with the group’s plan of reaching out to 80% of SME users on its digital platform over the next 12 months. Currently, Maybank is serving 60% of the total SMEs in Malaysia.

Suitable for partnerships, private limited companies, professional firms, educational institutions, clubs, society and associations, Maybank2u Biz App offers business owners secure and simplified day-to-day banking services as well as necessary tools to ease business operations and go mobile.

Simplified and Intuitive Platform

Once logged in, users are presented with an uncomplicated and signature yellow interface that features a dashboard overview of their business accounts, fixed deposits, and loans. Additionally, users can keep track of payments, transactions, and approvals to stay updated with daily banking operations and make quick reviews of the business’s financial health.

Maybank2u Biz also allows businesses to access and export a year’s worth of financial transaction history into universal CSV format without the need to wait for the usual month-end statements. This allows businesses to plan, improve business decisions, and spot potential red flags in their financial statements.

Seamlessly Manage Your Daily Operations

To simplify banking transactions, the Maybank2u Biz App allows users to initiate and approve transactions anytime, anywhere. Each account allows up to 5 users, with 3 types of user access levels and permissions, namely Checker, Maker, and Viewer.

To understand these users, we have John who is a founder of a start-up and he has taken the role of a Checker. His chief accountant, Sam, who manages the business’ finances will be given the role of the Maker, while the general manager, Zu is the Viewer.

Zu has the ability to only view all the account details, while Sam can view and initiate transactions for approval. John has the authority to view and make on-the-go approvals of up to 10 transactions initiated by Sam within a 7-day approval period. Additionally, users can also set up automated recurring payments and favourite payees from their recent transactions to save time.

Integrated & Convenient Invoicing Tools

One of the highlights of the Maybank2u Biz App would be the built-in invoicing tools, where business users, specifically the Maker, can create, issue, and track invoices all within the app.

Makers can customise invoices from a variety of ready-made templates and track them on the account dashboard for easy access once issued. Moreover, there’s no need to waste paper on these documents, as the app allows invoices to be issued via mobile messaging applications and email.

Additionally, customer details such as company name, address, and business registration numbers can also be saved for future invoices for quicker processing and payments. There is also a send reminder feature where users can send a quick reminder to any late-paying customer.

Secure & Safeguarded Transactions

One of the biggest concerns of any business owner is the security of their finances. To safeguard transactions, Maybank2u Biz App is equipped with Secure2u, where only registered devices can make approvals. This feature potentially eliminates the incidence of SMS frauds as well as the need of memorising and mistyping TAC codes.

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From 5 October until 31 December, earn entries to be one of the lucky 10 winners every month to win a grand cash prize of RM30,000 or RM5,000 through the Power2Win Campaign.

Perform any of these transactions to earn as many entries to win and power up your business for the upcoming year!

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With Maybank’s commitment to SMEs, the Maybank2u Biz App presents a simple, smarter, and secure business banking solution for SMEs. With an intuitive interface, easy navigation, and useful business tools, the Maybank2u Biz App serves the needs of business owners who are navigating through their recovery and growth as they digitally transform their businesses.