With Web 3.0 set to impact the world through its decentralised form of the current Internet which is technically known as Web 2.0, ELMLAB introduces its Enterprise Operating System (EOS), to assist enterprises in improving the efficiency of their business processes while driving sustainable growth. As a local R&D company specialising in connectivity, ELMLAB aims to leverage the latest web innovation to build a secured solution for local businesses.
Malaysia is scaling up multiple initiatives for businesses to embrace digital transformation yet a report by the World Bank shows that the country is running behind on productivity measures and has lower rates of technology adoption. This is because many players stop at only digitising front-end business processes such as setting up websites for online transactions and for marketing functions. With full digital transformation, the ecosystem can be enhanced to help realise the vision and objectives of the Malaysian Digital Economy Blueprint (MDEB).
To that end, the Enterprise Operating System (EOS) houses a variety of applications to assist enterprises in executing the core of their business processes such as in operation, finance, sales and Human Resource management. The comprehensive availability of applications such as Web 3 Enterprise will make it easier for all relevant data to be keyed in and analysed to generate a comprehensive overview of internal and external business activities from the data.
“The Enterprise Operating System (EOS) will be impactful for businesses’ growth. We are excited in introducing our software to the market as we observe that the local businesses have the capabilities to fully transform digitally and place themselves aligned with competitors both locally and overseas,” shares Choo Tzer Maan, Director of ELMLAB.
Traceability and the Future of Work
The Enterprise Operating System (EOS) enables traceability of business processes and an organisation’s workforce, while ensuring remote work is done transparently with a visible record. In a time where companies must deal with the effects of the ‘Great Resignation’ that is also partially caused by work flexibility, the software will be essential for future-forward businesses.
With practical tools provided, companies will be able to monitor employee productivity through measurable data, ensuring that monthly, weekly, and even daily goals are monitored and met. The software will in turn, result in increased performances, ensuring long term sustainable growth of the organisation.
Once data of day-to-day business processes are recorded in the EOS, it will provide tangibility to companies’ operational activity. Business decisions can be made through its analysis, driving business growth with accountability and transparency in every level of the organisation and business transactions. The data will help maximise companies’ talents, initiate effective campaigns and strategically manage timelines to achieve business goals.
More than that, the EOS is built on blockchain technology. As there is a global call towards building a circular world especially through business ecosystems, the platform allows tracking and reporting along the entire supply chain, from manufacturers and suppliers to merchants and consumers. This will increase the level of accountability among businesses, resulting in this ecosystem becoming environmental, social and governance (ESG) centric.
Ensuring Data Security with Web 3.0 Technology
A dilemma for most companies, big and small, is the risk of private data breaches that come with moving all aspects of the business online. With the new and revolutionary Web 3.0, data security and ownership can now be ensured. As Web 3.0 is built on the blockchain, it provides transparency, preventing data manipulation and tampering of every transaction and activity done online. This in return, secures trust for the company.
Private data of companies being acquired by other entities can also be mitigated as they will have full data ownership. With the adoption of a digital system with a trusted record of data, companies will be able to run their company securely and with confidence.
“This software will benefit multiple industries from manufacturing, e-commerce to healthcare. As it leverages on the innovation of Web 3.0, every data keyed in online will be secured without running the risk of inappropriate use of the data by irresponsible parties and at the same time, increasing local businesses and organisations’ participation in the digital ecosystem. This will then bring Malaysia closer to their goal of providing a fair and equitable economic development among all levels of society through digitalisation by 2030,” adds Tzer Maan.
ELMLAB hopes for local businesses to not be afraid of taking on complete digitalisation as technology improves. ELMLAB wishes to provide softwares and innovations that could help local businesses rise in competency as other businesses overseas while ensuring smooth adoption, complete data ownership and increased user experience. ELMLAB’s Enterprise Operating System (EOS) will be made available to local businesses by August 2022.