By MIA Sustainability, Digital Economy and Reporting Team
The DTAA Winners in Action series is back to celebrate the remarkable achievement of organisations that have embraced digital transformation in the accounting field. Introduced in March 2023, the Digital Technology Adoption Awards (DTAA) are aligned with MIA’s continued efforts to advance digitalisation within Malaysia’s accountancy profession across three sectors: public practice, commerce and industry, and the public sector.
The DTAA is driven by three key objectives: a) promoting technology adoption through the sharing of success stories; b) highlighting the role of accountants in fostering business and economic growth via digital technologies; and c) acknowledging outstanding digital adoption efforts that inspire others to follow suit. These objectives aim to not only celebrate excellence but also to foster ongoing innovation, ensuring that the accountancy profession evolves in tandem with the rapid advancements in digital technology.
In this final edition, the spotlight is on Advisirs Plus Sdn Bhd, the recipient of the prestigious ‘Top Excellence Award’ in the Public Practice category for firms with 10 to 49 employees, recognised for their exceptional practice management processes. Join us as we take an in-depth look through an insightful interview with Hong Lim, Founder & CEO, uncovering the strategies that fueled their success and the crucial factors that earned them this well-deserved recognition.
Why did you adopt technology?
When we started Advisirs Plus, we faced the same challenges that many traditional accounting firms encounter. Everything was manual, and far too many hours were spent on basic data entry. It wasn’t just inefficient; it was holding us back from helping our clients grow their businesses.
The biggest challenges we faced were:
- Our team was drowning in paperwork. Traditional accounting and tax processes meant endless manual data entry, which was not only slow but also led to mistakes that took even more time to fix.
- We couldn’t grow properly. With everything being so labour-intensive, taking on more clients meant we had to hire more people. The math just didn’t add up for scaling up. Essentially, the business couldn’t grow effectively because the labour-intensive work required more staff, making expansion financially and operationally unfeasible.
- Keeping up with tax rules and regulations was a nightmare. Malaysia’s regulations were constantly evolving, especially with e-Invoicing coming in. Our clients relied on us for guidance, but staying on top of the changes manually was impossible.
- Our clients wanted more than just basic accounting. They needed real-time insights to run their businesses more effectively, not reports from three months ago.
- The hardest part? Getting everyone to embrace change. Many of our experienced professionals were comfortable with their tried-and-tested methods. Convincing them to adopt new technology wasn’t easy.
What technologies have you adopted?
We knew we needed a complete overhaul, not just a few digital band-aids. Here’s what we implemented:
- We went paperless by using digital signatures and e-Forms. This was a game-changer for corporate compliance, especially for Estimated Tax Payable Form (Form CP204) submissions and tax filings. No more chasing clients for signatures or losing important documents.
- We moved everything to cloud, using platforms such as Bukku, Xero, and AutoCount Cloud for real-time accounting and tax work. Additionally, iBiZZtax has been crucial for ensuring smooth tax compliance.
- We built our own digital platform (advisirsplus.com) where:
- Business owners can handle their SSM and Sdn Bhd registrations online anytime
- Everything from accounting to business advice is available in one place
- Clients can access their documents, chat with our team, and even learn through our e-learning modules
- We will be launching eInvoisPlus.com.my with a simple mission: “Making e-Invoicing easy for everyone.” This platform will serve as a complete resource centre featuring:
- The latest e-Invoice updates and educational content
- Practical guides and video tutorials
- AI-powered e-Invoice chatbot for instant help
- Comparison tools for different e-Invoice solutions
- Recommendations for software providers based on business needs
We are also developing an AI chatbot to handle basic tax queries and calculations. However, we’re taking our time to get it right, as it needs to be genuinely helpful, not just a flashy feature.
How was your digital technology implementation journey?
Our journey happened in stages – we couldn’t change everything overnight. Here’s how we did it:
- First, we focused on the basics – moving from paper to digital. This meant:
- Getting everyone comfortable with cloud accounting software
- Training our team on digital signatures
- Setting up an online knowledge base for our clients
- Then we started automating processes:
- Built our digital platform to handle registrations automatically
- Conducted intensive training sessions – we’ve trained over 3,000 business owners on digital transformation
- Secured funding of RM500,000 through equity crowdfunding to keep pushing forward
- Now we’re working on smarter solutions:
- Developing AI tools that make sense for tax and accounting work
- Building better ways to help businesses understand and implement e-Invoicing
- Working toward attaining Malaysia Digital Status to solidify our position in the industry
What is the impact of your technology adoption?
The numbers tell the story.
We’ve become the fastest-growing digital accounting firm in the northern region, and that’s not just marketing talk – we’ve brought in over 300 clients who specifically chose us for our digital approach.
The efficiency gains have been significant. We’re handling work about 15% faster than before, and that’s being conservative. But the real win is in client satisfaction – 90% of our clients actively recommend us to others. They appreciate receiving faster service and having full visibility into what’s happening with their accounts.
Our team is happier too. About 80% said that they enjoy their work more now that they’re not doing manual data entry all day. Plus, they can work more flexibly, which makes a big difference.
We’ve garnered notable recognition along the way – being featured in The Star, Bernama, and Nanyang newspaper, plus the Lang International Corporate Titans Award for being an excellent digital accounting firm. But what really matters is that we are helping to train the next generation of accountants who understand both numbers and technology.
What is your future digital technology plan?
We’re focusing on several areas:
- Making our tax chatbot smarter by handling more complex questions while ensuring the answers are practical and accurate
- Expanding our e-Invoice support to assist businesses of all sizes with this transition
- Pushing automation further in accounting and payroll
- Using data analytics to give our clients better business insights
- Looking into blockchain for secured financial records
Do you have any tips to share with the readers?
Based on our experience:
- Start with the right mindset. Digital transformation isn’t about buying fancy software – it’s about rethinking how you serve your clients.
- Choose tools that work together. We wasted time early on with systems that couldn’t communicate / work with each other.
- Invest heavily in training. The best technology is useless if your team isn’t comfortable using it.
- Take data security seriously from day one.
- Connect with others in the industry. We’ve built a community of over 22,000 followers on Facebook, where we share knowledge about digitalisation.
Why did you participate in the DTAA?
We participated in the DTAA to share our story and hopefully inspire others. Building a digital accounting firm hasn’t been easy, but it’s been worth it.
The biggest lesson? Digital transformation is more about people than technology. Getting everyone – team, clients, partners – on board is vital.
What is your advice to aspiring participants of the DTAA in future?
Be honest about your challenges. Share what worked AND what didn’t. Use the DTAA to build relationships and learn from others. Most importantly, remember that this isn’t just about winning an award – it’s about pushing our whole industry forward.
For more information about the DTAA and the complete list of winners, click the links below:
