Century Software (M) Sdn. Bhd.

CSM (http://www.centurysoftware.com.my/) is an end-to-end solutions provider of high-end FMSS, with considerable experience in the development of FMSS for the public sector, having served in this sector for over 10 years. The Government has appointed CSM for the implementation and continuous maintenance of its respective SAGA compliant FMSS within federal statutory bodies.

The Government’s circular PKPA 1/1996 (“Circular”) dated 1 February 1996 had asserted the Government’s plan to implement SAGA progressively in all its Federal Statutory Bodies (“SAGA Initiative”). This Circular was subsequently superseded by Development Administration Circular No.1 of 2007, issued by the PMD effective 4 May 2007 with further enhancements to the SAGA Initiative. In essence, the SAGA Initiative was introduced as an important step for the Government to improve efficiency levels of financial management and accounting practices in Federal Statutory Bodies which included maintenance and updating of accounts and execution of audit work, also known as the SAGA Expansion Programme. SAGA sets the guidelines for the preparation of financial statements and financial reports by the Federal Statutory Bodies. 

The main objectives of introducing SAGA to Federal Statutory Bodies are:-

• to provide a facility to maintain a comprehensive and up-to-date set of accounts;
• to enable closing of accounts on a daily basis;
• to provide a better financial management accounting facility; and
• to ensure that the pre-audited financial reports are prepared timely.

Pursuant to the release of the Circular, CSM had worked towards ensuring SAGA Century is SAGA compliant. To this end, CSM is proud that its SAGA Century is well accepted by the Government and CSM has been mandated by ANM, MAMPU and Auditor General as a provider of the SAGA Initiative.

CSM’s growing Government clientele, comprises over 70 Government agencies at the Federal, State and Local Council levels.

It is important to note that a majority of CSM’s customers were secured through open tenders. Its ability to secure these customers, successfully complete the projects and build a strong business relationship with them is also a major accomplishment.

In the “SAGA market”, 49 (approximately 42%) federal statutory bodies have yet to install the SAGA system and these bodies represent the future untapped market for CSHB. In addition, the SAGA system also has a potential market at the federal agency level. Apart from the initial installation of the SAGA system, upgrading and maintenance services are also a source of revenue for the FMSS providers. While initial installation services are one-off, upgrading and maintenance services are periodical (i.e. quarterly, annually, every five years etc.) and are sources of recurring revenue. (Source: IMR Report prepared by D&B Malaysia)

Currently CSM intends to keep its marketing focus on the public sector. Notwithstanding this, CSM has secured some contracts from the private sector.