In Malaysia, the new Pakatan Harapan Government has urged the industry to move towards Industry 4.0. From the recently tabled national budget for year 2019 (Budget 2019), it is clear that the government seeks to encourage a revolution of industries in Malaysia to achieve Industry 4.0.
Industry 4.0 is the fourth industrial revolution around the globe. This revolution involves digitalize transformation in manufacturing products. Differ from Industry 3.0, Industry 4.0 is driven by connection between technologies. It emphasizes on integration, automation and simulation processes. Factories in Industry 4.0 will have cyber physical systems to monitor real time progress of the factories and to make decentralized decisions. Some refer Industry 4.0 as “smart factory” or “smart manufacturing” too.
Although Industry 4.0 is the current trend in global industry, there are some challenges for Malaysia to move towards it. Local industries lack of awareness on the concept of industrial revolution and its benefits. Many of our manufacturers are still in Industry 2.0 (mass production) and Industry 3.0 (automation). About 40% of SMEs do not think that they need to transform their business into internet based.
There is also an infrastructure gaps particularly the digital infrastructure. Besides, Malaysia still lack of coordination and policy for local industries to integrate with different systems. Much effort is needed for these manufacturers to catch up with the current trend.
Good news is, there are already industries that are ahead in the transformation process on their own to be compliant with Industry 4.0. Automotive, aerospace sectors and electrical engineering sectors are more advance in terms of Industry 4.0 adoption.
Truth is, all sectors will benefit from catching up to Industry 4.0 trend. As it emphasize on increasing production efficiency by making good use of connecting various technologies available.
Start your very first step now!
Transforming into Industry 4.0 isn’t that difficult as many may imagine. It simply start with a step to digitalize and simplifying your business operation and finances. You just need to subscribe to cloud-based accounting software like TreezSoft and you can get your first step sorted. TreezSoft uses series of integration and automation processes to ensure smooth accounting experience for all our clients.
Besides, subscribing to TreezSoft is as easy as ABC. You just need to fill in your information in the link and we’ll activate a free trial account for you. You can then easily try out the system to see how you can use TreezSoft to its best. You can also visit our blog for more information on how TreezSoft can help enhance your business processes regardless of your business model.
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TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
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