• End-to-end digital platform for business registry and corporate governance management to enable digital transformation post-COVID-19
• Enhances transparency and ease of doing business, opens up access to reliable data for investment community and industry at large
• Integrates with XBRL, the global standard in financial reporting
• Commercial partnerships established in key regions across the world

Kuala Lumpur –  In the wake of the COVID-19 pandemic, OMESTI Group of Malaysia is taking digital transformation technology nationwide and across the world to help organisations manage their business reporting processes more efficiently and enable them to recover from the crisis faster.

With the OMESTI BR-IDGE* solution, business registry bodies can bring legacy manual processes fully into the digital era for the entire lifecycle management of companies, businesses, partnerships and corporate intermediaries. The platform, which is modular and scalable in nature, is fully configurable to meet different corporate registry requirements according to the respective jurisdiction. [*Business Registry ID & Governance Ecosystem]

Chia Yong Wei, Executive Director of OMESTI Berhad, says, “With the devastating effects caused by the COVID-19 pandemic across the world, digital platforms like BR-IDGE have a key role to play in helping governments kick-start their respective economies. By opening up the way that data is made available to the investment community, other regulatory bodies and industry at large, investment decisions can be made based on reliable, verified data.”

In order to help global economies where digital transformation is a key plank of the business management agenda, OMESTI is establishing a network of partnerships with leading technology integrators.

For Thailand and the wider South East Asia region, OMESTI is working with Clarian Pte Ltd, a Singapore-based management consultancy led by Rada Tuntasood, which specialises in business development and partnerships in Thailand and investor relations and client management.

The Group is also finalising partnership arrangements with leading companies in South Africa and the Middle East.

“BR-IDGE is the type of digital platform that can make a significant contribution to enhanced transparency and the ease of doing business, one of the key factors in the highly regarded World Bank Ranking metrics,” adds Chia.

With BR-IDGE, the entire process for business life-cycle management can be handled online in a secure environment. This includes filing of company incorporation submissions, name searches or name change applications, updates on company directors’ details and various other corporate filing requirements in a fully digital format. Comprehensive searches on information such as company ownership and shareholding, directors and other pertinent corporate data can also be conducted online.

A collection management module enables centralised fees management, payment collection and end-to-end reconciliation and financial reports. The watchlist monitoring module helps registry bodies in early fraud detection and in determining the track record/standing of individuals/businesses on their suitability for business formation. Integration with xBRL, the global open standard for digital financial reporting, enables smooth processing of compliance financial submissions.

Earlier this year, OMESTI became one of only five Huawei Technologies’ Authorised System Integration Partners around the world. The Group is currently engaged in a major project to develop and implement a state-of-the-art integrated Customer Relationship Management [CRM] and Billing Systems architecture for Malaysia’s national telco Telekom Malaysia. The new platform will deploy Huawei Technologies’ Business Systems Services [BSS] technology.