Making streamlined solutions accessible for SMEs

Maybank Work+ addresses three major pain points of SMEs with its suite of services

Maybank Work+ is a game-changer for SMEs, providing a comprehensive suite of solutions that streamline payroll, payments and financing processes.

Agility and efficiency are the cornerstones of success in today’s fast-paced business environment. By prioritising these, small and medium enterprises (SMEs) can stay ahead to remain competitive in the long run.

SMEs are often lauded as the unsung heroes of our economy, constituting a staggering 97% of the business ecosystem locally according to the Department of Statistics Malaysia. SMEs provide the conduit to spur the nation’s economy. For SMEs to thrive, SMEs need to optimise their business operations, secure additional capital for business expansion and retain top talents to remain ahead of the curve. However, these considerations are not without challenges.

To transform and remain ahead of competition, SMEs can seize the opportunity to prosper and stay competitive with available solutions to address all the three key challenges. Maybank introduces Maybank Work+ solution to assist SMEs. Maybank Work+ streamlines daily operations through payroll solutions, supports business expansions with exclusive banking benefits, and enhances employees’ retention with specific perks. This allows for Maybank SME customers to focus on their broader visions to escalate their business.

Gain control and achieve more with streamlined business operations

The challenges to manage payroll is the complexity of having to juggle the tracking man-hours to manage overtime, compliance to regulatory requirements, bookkeeping and ensuring accuracy and timeliness for salary pay-outs. These challenges are even more critical within small businesses, traditionally known for their lean operations. Payroll solutions such as Maybank Work+ provides respite and assistance for SMEs to address this.

Maybank Work+ offers a suite of payroll solutions, from salary crediting to bulk payments via Maybank2u Biz and Maybank2E, delivering seamless and convenient experiences for both employers and employees, easing administrative burdens.

Moreover, Maybank has integrated their banking features with third-party accounting partners like AutoCount, Bukku and SQL to provide seamless transaction updates for automatic bank reconciliation. With this, Maybank is simplifying the bookkeeping process while providing better accuracy and transparency to SMEs businesses in the reconciliation process. This “Bank-Feed” integration allows SME to save time and resources with reduced errors for them so they may focus on their core operations.

Exclusive banking benefits with solutions and tools for your business expansion

As SMEs strive for expansion, Maybank Work+ stands as a supportive partner on their journey to success. With tailored business financing and exclusive fee waivers, SMEs can confidently pursue their expansion plans. Maybank offers assistance in bridging cash flow gaps, expand customer payment options, and provide zero rental fees for Maybank Merchant Card Terminals.

In addition, with Maybank Work+, SMEs can also have access to business financing of up to RM20 million that can be applied entirely online, for working capital injections during business growth.

Appreciation for employees

Maintaining a talented workforce is crucial for the success of any SME, as these individuals bring innovation, dedication and drive for results. Motivated and dedicated employees lead to greater engagement with aligned objectives, which translates into increased revenue and profitability opportunities.

Maybank Work+ empowers employees of SMEs financially, allowing them to enjoy preferential rates on various banking solutions such as financing, credit cards, and wealth management products. This ensures that their personal finances are well-managed. They also have the opportunity to earn indicative profits on fixed deposit or Islamic fixed deposit accounts, enabling their savings to grow steadily over time.

Maybank Work+ simplifies business management by optimising operations and payments, while also offering preferential rates on various products to boost employee retention. This allows Maybank SME customers to focus on what truly matters—growing their business and revenue opportunities. Maybank Work+ is immediately available to SMEs with existing Maybank2u Biz Bulk Payment or Maybank2E Payroll features, as well as employees who use Maybank as their salary account. New customers can visit the nearest Maybank or Maybank Islamic branch to get started.

Exciting special rewards await SMEs, with opportunities to win a Ford Ranger Raptor and RM2,000 cash prize through payroll and business transactions. Additionally, they can earn up to 1.0% p.a. higher returns by increasing and maintaining funds in the Maybank Business Account. Terms and conditions apply.

For more information, visit maybank.my/smerewards for more rewards, and learn more about Maybank Work+ at maybank/my/workplus.