Multi-award-winning AI and Big Data technology market leader Fusionex signed a memorandum of understanding (MoU) with the Federation of Malaysian Manufacturers (FMM) Selangor & Kuala Lumpur to power their ecommerce marketplace platform for FMM members, which will then be able to offer their products and services online, along with digitally transforming their businesses.
The MoU was signed by FMM Selangor & Kuala Lumpur Chairman Jacob Lee and Fusionex Group CEO Dato’ Seri Ivan Teh. The signing ceremony was witnessed by YB Dato’ Teng Chang Khim, Selangor State Executive Councilor for Investment, Industry & Commerce and Small & Medium Enterprise (SME) and FMM President Tan Sri Dato’ Soh Thian Lai.
According to Soh, the coronavirus crisis had changed consumer purchasing habits as people were less willing to leave their homes and more likely to buy online. As a result, businesses needed to revamp their traditional retail strategies to be more digital-focused. Launching an ecommerce marketplace opens up a window of opportunity for SMEs to reach out to customers of the new normal through digital means.
“Brick and mortar establishments have borne the brunt of the economic turmoil brought about by the pandemic. This partnership with Fusionex is a timely one as the pandemic has caused consumers to shift to shopping online. This ecommerce platform allows us to give SMEs access to the surging online consumer base and offers customers a broader assortment of goods and services for them to purchase,” said Lee.
By utilizing the capabilities of digital technologies, entrepreneurs will be able to fast-track the digitization and automation of their retail landscape. In addition, the ecommerce marketplace platform, powered by Fusionex solutions, allows businesses to quickly respond to changes in supply and demand dynamics, create new sales avenues, and overcome Covid-19-related challenges as well as tackle other real world challenges.
“Our integrated and comprehensive platform enables FMM members to showcase their Malaysian-made offerings online through the ecommerce marketplace campaign program and in doing so, promote Malaysian manufactured products and services in line with FMM’s ‘Love Malaysia, Buy Made-in-Malaysia’ campaign,” said Fusionex Vice President Chen Keat Ming.
“We are delighted to be collaborating with FMM to provide a solution that bestows FMM members with the digital capabilities needed to not just keep their business going during this time of crisis but thrive. The platform provides them with a more expansive reach and a two-way channel of interacting with customers. It is my hope that together with FMM, we will create a flourishing ecommerce marketplace that results in better sales and market share for business owners and entrepreneurs, as well as develop an always-connected culture capable of harnessing digital technology to its fullest potential,” said Fusionex Group CEO Dato’ Seri Ivan Teh.