Top Saas Companies in Malaysia

The Software-as-a-Service (SaaS) industry in Malaysia has experienced significant growth and success in recent years, driven by a range of factors including government initiatives, technological advancements, and a growing customer base. In this article, we will explore the key statistics from 2022, the factors contributing to the industry's growth and success, each industry's growth and comparison to previous years, key trends, challenges, and the future outlook.

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CompanyHeadcountContactDescriptionDecision Maker
STOREHUB296 +60 3-9212 6688
sales@storehub.com

StoreHub is an all-in-one platform that enables retailers and restaurants across Southeast Asia to automate and grow their businesses. StoreHub’s platform provides a comprehensive ecosystem of solutions ranging from a cloud-based POS system to QR-based table ordering, loyalty, customer engagement, and more. Since its launch in 2013, the platform now serves over 15,000 retail and restaurant outlets across their key markets of Malaysia, Thailand, Philippines and others. Its critical for businesses to use technology to not just survive but thrive. We also believe that it’s important to bring the best technology not only to those who can afford it but to those who have traditionally been marginalised by the technology race. That’s why it is our mission to make technology available for everyone, enabling all businesses to grow successfully and sustainably. At StoreHub, we use the term “pro sports team” to describe how we operate, referring to ourselves as Players (our teammates) and Coac…

APPFUXION CONSULTING219 +60 3-2702 2988
digitaladmin@appfuxion.com

The company incorporated in 2013, AppFuxion Consulting is a leading provider of digital solutions and software testing services to Banking, Insurance, Retail, Telecommunication and Hospitality clients across the Asia-Pacific Region mainly in Malaysia, Thailand, Indonesia, Singapore and Philippine for regional project. We offer a comprehensive range of value-added digital solutions that are of the highest quality and innovation as part of our commitment to produce the right business outcome for our clients. AppFuxion Consulting has approximately 250 skilled and experienced digital solution professionals from software blueprint, architecture, process automation, quality assurance to project management. We bring years of experience in delivering digital solutions tailored to your business requirements. Our specialists are industry proven consultants that can architect the right solution, devise a practical delivery plan and deliver customer-centric services to meet our client’s requir…

SECUREMETRIC TECHNOLOGY128 +60 3-8996 7225
sales@securemetric.com

SecureMetric is a fast growing digital security technology driven company that well recognized as one of the pioneer player in this region with full capability of producing our own security devices and solution with R&D center and production facilities in Malaysia and China. As a multinational and multi-races based company, SecureMetric’s technical team consist of top security experts from China, Indonesia, Malaysia, Philippines, Singapore, Vietnam and United Kingdom. Cross region and culture exposure made SecureMetric a company that always ahead with others with our innovative products and services that always best fit the market here. SecureMetric is headquartered in Kuala Lumpur, with subsidiaries in Manila, Hanoi, Ho Chi Minh City, Jakarta and Singapore. Next, the company is aiming to establish local presence throughout South East Asia region before end of 2012. Additional to the South East Asia, SecureMetric has appointed more than 20 channel partners from other regions as per ou…

CREDENCE130 +60 3-2241 4917
hi@credence.tech

Get better insights into your business and remove the trouble of managing your increasingly complex technology needs. Credence helps you understand your technology landscape and align it to your business priorities, while highlighting the risks and rewards associated with the journey through our advisory services. Credence offers differentiated and data-driven aspects of technology: Cloud Migration, DevOps and Analytics, Industry Solution and SaaS, as well as Employee Productivity solutions including Smart Workplace and Knowledge Management. Powered by the TM Group, Credence delivers transformational solutions by bringing together strategic partnerships with the world’s leading cloud and cloud-native application providers such as AWS, Microsoft Azure, SAP, Oracle, VMware and a global talent pool of domain and technology experts. Speak to us and find out how your organisation will benefit from our localised advisory capabilities.

FUSIONEX GROUP548 +65 6955 7822
au.info@fusionexgroup.com

Fusionex is a global, multi-award winning data technology provider with a strong worldwide presence. Fusionex works with many fortune 500 clients in the United States, Europe as well as the Asia Pacific region, bringing innovative and breakthrough ideas and solutions to its clients. Fusionex specializes in Analytics, Big Data, Machine Learning and Artificial Intelligence, and is the only ASEAN based company with a complete and user friendly Big Data Analytics product that has been successfully commercialized. Fusionex is currently one of the largest, fastest growing technology companies in the region.

GOBI PARTNERS102 +60 3-2778 6800
marcom@gobi.vc

Gobi Partners is the most interconnected Pan-Asian venture capital firm with US$1.5 billion in assets under management (AUM) across North Asia, South Asia, and ASEAN. Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 15 funds to date, invested in over 320 startups and nurtured 9 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Beijing, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, Shenzhen, Surabaya and Singapore. As a Participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labour, environment and anti-corruption to ensure long-term value creation and sustainability across our portfolio.

BEICIP-FRANLAB ASIA45 +60 3-2165 1709
info@beicip.asia

Beicip-Franlab Asia (formerly known as BeicipTecsol) is a petroleum consulting, training provider and software solutions company covering activities from exploration to development to production portfolio. As hub of Asia, we deliver value through our robust technologies as well as global renowned experts. Established in April 2013, Beicip-Franlab Asia is an equity joint-venture entity in between Beicip-Franlab (Paris), PBQ Oilfield (Dubai) and Malaysian partners. Beicip-Franlab Asia (BFA) main office located in Kuala Lumpur as the main hub to support Beicip’s business especially in the Asia region. With the support of our partners, Beicip-Franlab Asia provides best-in-class consultancy solutions, software, support and assistance covering conventional and non conventional exploration, reservoir characterization, enhanced oil recovery reservoir management, field development, production optimization, process and economics. Beicip-Franlab in a Glance: - Beicip-Franlab is a leading indepe…

WAVELET SOLUTIONS SDN BHD84 +60 16-299 1588
sales@wavelet.net

Wavelet Solutions Sdn Bhd was formed in October 2003 to develop, implement and market a web-based ERP system called “Enterprise Management Portal” (EMP).EMP is a cost effective web-based software that runs on open source platform targeted at certain niche market, namely retail chain stores, trading and distribution companies. This solutions has captured some branded customers in a few industries including computer retailers, mobile phone retailers, furniture shops, shoes / footwear company and florist. EMP has already found its way into companies in Malaysia, Shanghai, Hong Kong, Vietnam, Singapore and Brunei. Headquartered in Subang Jaya, Wavelet has been awarded MSc Status by MDEC Malaysia in November 2009. In 2011 August, Wavelet has formed a Joint Venture with Chinese Academy of Sciences (SIAT) to conduct research in multi-agent framework (artificial intelligence), as well as to penetrate the China market.

FOREST INTERACTIVE218 +60 3-2162 2728
info@forest-interactive.com

Founded in 2006, Forest Interactive develops scalable mobile platforms to connect mobile operators, content providers, and game publishers with their subscribers. With over 17 years of industry experience, Forest Interactive has expanded to include a diverse workforce of 20+ nationalities in 17 regional offices. Delivering content subscription services, digital voucher and e-commerce platforms, and mobile apps for all ages, Forest Interactive operates in more than 30 countries, servicing 90+ mobile operators and 100+ content partners with the capacity to reach over 1.8 billion subscribers worldwide.

DJAVA FACTORY SDN BHD54 +60 12-486 6726
contact@djavafactory.com

dJava Factory is a boutique software development company that is solely focused and committed to promoting a single product, Java. Knowing the demands of the industry through the years, we endeavor to provide highest quality of work at appropriate pricing.

WEB BYTES SDN BHD82 +60 3-9213 1353
info@xilnex.com

Web bytes Sdn Bhd is a new edge software development company dedicated to innovate and create the most dynamic and feature rich cloud based point-of-sale solution for our customers. Establishment back in 2007, from a big passion that starts from a small project quickly becomes one of the preferred choice among corporate companies today. Besides becoming one of the first adopters of cloud-based technology retail management solution in Malaysia, Web Bytes Sdn Bhd was recognized for its innovative design and feature during the MSC Malaysia MAD TechVentures 2010 Conference for Judges Award Top Launch Award and also Best product launch SaaS and Web Application. Again recently we were also awarded MSC Malaysia APICTA, Best of Retail & Supply Chain Management 2014 award solidifying our company’s culture of continuous innovation and creating new possibilities for our customers. Team in Web Bytes are dedicated to assist all our merchants to grow their business by simplifying their internal p…

FROGASIA102 +60 18-799 7979
support@frogasia.com

We are a social enterprise that aims to transform teaching and learning through technology. With a mission to provide equal access to quality education for all students, we offer 21st-century learning solutions through a technology-based approach. In 2012, we started as the first in the world to connect an entire nation through a single, cloud-based learning platform. Our virtual learning environment, the Frog VLE, is an award-winning platform used by 12 million people worldwide. Our work in transforming education through technology encompasses building learning communities, influencing thought-leadership, and enabling businesses to provide training and development. We are honoured to have been recognised for the work we do where we have won Platinum trophies for the Excellence in Provision of Literacy and Education Award in 2017 and 2019 as well as a Gold award in the same category in 2022. Our Learn From Home initiative has also won the People’s Choice Category of the Constellation…

MANDRILL TECH SDN BHD63 +60 3-2780 7018
hello@mandrill.com.my

Mandrill Tech is a digital transformation powerhouse specializing in developing financial technology applications that cover domains such as banking and finance solutions, payment gateway solutions, corporate billing and settlement systems, manufacturing automation, and medical solutions. We assist clients in automating and digitizing their business processes, reducing daily manual overhead by delivering innovative cloud-based solutions that promote business growth. As a strategic technology partner to you, we want your business idea to be materialized and your startup to reach its highest potential on the growth and market acquisition. We offer all you need, from comprehensive technology consultation, go-to-market plan & execution, up to providing the reliable technical resource team.

DATASONIC GROUP BHD (DSONIC)139 +60 3-7781 9868
sales@datasonic.com.my

Datasonic Group is involved in the provision of ICT solutions including the smart card personalisation (such as secure ID or chip-based credit / debit / bank cards), customisation of software and hardware solutions, project management, consultancy, R&D and technical consultancy services.

PSI INCONTROL SDN. BHD.169 +60 3-6157 8050
info_kul@psi-incontrol.com

PSI Incontrol Sdn. Bhd. (PSI Incontrol) is a solution provider for automation and protection technologies. Established in 1996, PSI Incontrol has achieved tremendous growth and is one of the leading engineering companies in Southeast Asia, providing a wide spectrum of generic as well as niche products. PSI Incontrol is a subsidiary of PSI AG, headquartered in Berlin with a strong presence in Germany and most of Europe. PSI AG develops and integrates complete solutions, on the basis of its own software products, for the management of energy networks (electricity, gas, oil, heat and water), cross-company production management (metals, automotive, mechanical and plant engineering, mining and logistics) and infrastructure management for telecommunications, transport and safety. PSI Incontrol serves as an agent for these solutions in the Asia-Pacific region and the Middle East. PSI Incontrol is a prominent regional player in Network Control Systems, Substation Automation, Control and Prot…

CENSOF HOLDINGS BERHAD111 +60 3-7962 7800
info@censof.com

Censof Holdings Bhd was established in 2008 as a technology investment holdings company specializing in financial management software solutions. Since then, Censof has expanded its portfolio of financial services solutions to include e-payment gateway services and wealth management software solutions. Subsequently, Censof ventured to professional training of software application specialists to support human capital development in technology certifications. Consequently, Censof acquired a major accounting solution business that cater to SME business market. Through its subsidiaries, the technology solutions are widely used in public and private sectors in Malaysia, Singapore, Indonesia and Hong Kong. In January 2011, the Group was listed on the Main Market of Bursa Malaysia. Today, the Censof Group provide an extensive portfolio of financial management software solutions that cater from start-ups, small and medium enterprises (SMEs) all the way to large corporations. Our team of exper…

SPORTS TOTO BERHAD167 +65 6746 3877
property@berjaya.com.my

SPORTS TOTO BERHAD Core businesses comprises operation of Toto Betting, solutions and equipment provider for computerized betting and voting systems and luxury motor retailing. We are located at Lot 13-01A, Level 13 (East Wing), Berjaya Times Square, No. 1 Jalan Imbi, 55100 Kuala Lumpur, Malaysia.

SEATONGUE114 +60 3-8688 5642
info@seatongue.com

SEAtongue is a leader in the field of localization and translation. Our main focus is Southeast Asian languages (Malay, Indonesian, Thai, Vietnamese, Tagalog, and more), CJK languages (Chinese, Japanese and Korean), Indian languages (Hindi, Punjabi, Tamil and more), and Middle Eastern languages (Arabic, Farsi, Turkish, Urdu and more). In addition to English>Asian languages, we have been building our experience and resource pools for German, French>Asian languages. SEAtongue translators are in-house native speakers and they are fully aware of the diverse local cultures. We are probably the only translation/localization company in Southeast Asia which has its own in-house, in-country teams of qualified linguists, offering high-quality services delivered by local experts at competitive prices to multinational clients. We are known for providing high-quality localization services through our specialized work in the following industries: IT, Telecom, Consumer Electronics, Military, Aut…

JURIS TECHNOLOGIES287 +60 3-2723 8699
contact@juristech.net

“Create amazing solutions, to build and enrich lives.” JurisTech is a leading Malaysian-based fintech company, specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond. Founded amidst the 1997 Asian financial crisis, JurisTech provides software solutions for artificial intelligence (AI), conversational chatbots, digital customer onboarding, loan origination, credit scoring, loan documentation, litigation, and debt collections. JurisTech has been working with banks and financial institutions (FI) to revolutionise the way financial transactions are made. Our solutions have enabled banks and FIs to transform digitally, providing better customer experience/journey and most importantly, achieving their business goals. We nurture our culture by practising our GECO core values: Growing Heroes, Making Excellence Happen, Customer First, and Opening Up. We believe in investing in employees…

ACO TECH SDN BHD71 +60 3-2022 0808
enquiries@acotech.my

ACO Tech is a Malaysian company that specialises in the development of Connected Cars applications and solutions. We offer a variety of hardware and software solutions for the Automotive industry. For any collaboration enquiry, please email us at enquiries@acotech.my or if youre interested to be a part of our ATLAS Auto merchant, do email us at merchants@myatlas.com.my.

Top Saas Companies in Malaysia

Key Statistics from 2022

According to the Malaysian Investment Development Authority (MIDA), the SaaS industry contributed RM14.2 billion ($3.5 billion) to the country's GDP in 2022, representing a 12% increase from the previous year. The industry also created over 70,000 jobs, making it a major contributor to the country's employment.

Factors Contributing to Growth and Success

Government Initiatives

One of the key factors contributing to the growth and success of the SaaS industry in Malaysia has been government initiatives. The government has implemented a range of policies and programs aimed at supporting the development of the industry, including tax incentives, funding programs, and training initiatives. These initiatives have helped to create a favorable business environment for SaaS companies, leading to increased investment and growth.

Technological Advancements

Another key factor contributing to the success of the SaaS industry in Malaysia has been the technological advancements. The rise of cloud computing, artificial intelligence, and machine learning technologies has transformed the industry, enabling SaaS companies to develop and deliver more sophisticated and innovative solutions to customers. Additionally, the increasing adoption of mobile devices and internet connectivity has expanded the reach and accessibility of SaaS solutions, leading to a growing customer base.

Industry Growth and Comparison to Previous Years

The SaaS industry in Malaysia has experienced consistent growth over the past few years. In 2021, the industry grew by 11%, and in 2022, it grew by 12%. This growth has been driven by the increasing demand for SaaS solutions, particularly in industries such as finance, healthcare, and e-commerce.

Key Trends: Technological Disruptions

One of the key trends in the SaaS industry in Malaysia is the impact of technological disruptions. The rise of artificial intelligence, machine learning, and blockchain technologies is transforming the industry, enabling SaaS companies to create more sophisticated and innovative solutions. Additionally, the increasing use of cloud computing is making it easier for SaaS companies to develop and deliver their solutions, reducing the time and cost required to develop and launch new products.

Challenges

Despite the significant growth and success of the SaaS industry in Malaysia, there are several challenges that the industry will need to address in the coming years. One of the key challenges is the need to keep pace with technological advancements and stay ahead of the competition. To achieve this, SaaS companies will need to continue to invest in research and development, stay up-to-date with the latest trends and technologies, and collaborate with other stakeholders in the industry.

Future Outlook

Looking to the future, the outlook for the SaaS industry in Malaysia remains positive. The increasing demand for SaaS solutions, coupled with the favorable business environment and growing customer base, is expected to drive continued growth in the industry. Additionally, the industry's focus on innovation and technological advancements will enable SaaS companies to create more sophisticated and innovative solutions, further enhancing the industry's reputation and success.

Conclusion

The SaaS industry in Malaysia has emerged as a major contributor to the country's GDP and employment, driven by a range of factors including government initiatives, technological advancements, and a growing customer base. The industry's focus on innovation and technological advancements, coupled with its favorable business environment, is expected to drive continued growth and success in the future. However, the industry will need to overcome several challenges, including keeping pace with technological advancements and staying ahead of the competition, to ensure continued growth and success.

To achieve this, SaaS companies will need to prioritize research and development, stay up-to-date with the latest trends and technologies, and collaborate with other stakeholders in the industry. Additionally, the industry will need to focus on talent development and retention to ensure a steady supply of skilled professionals, and leverage emerging technologies to build innovative and cost-effective solutions.

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By Melissa Goh
Published on 22 May 2023