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DNeX’s unit launches new cloud-based, financial and accounting application for Government agencies

Cyberjaya, 7 June 2023 – Dagang NeXchange Berhad’s (“DNeX”) subsidiary Innovation Associates Consulting Sdn Bhd (“IAC”) has launched the enterprise resource planning (“ERP”) for Government Agencies Digital System (“EGADS”), a new cloud-based financial and accounting application.

EGADS is an accrual-based accounting system built on the latest SAP Cloud Platform (S/4HANA) that complies with the Standard Accounting for Government Agencies (“SAGA”), Self-Assessment SAGA Compliance (“SASAR”) and the Malaysian Public Sector Accounting Standard (“MPSAS”). 

The system was launched in Kota Kinabalu, Sabah during the Saga Government Agencies Conference (“SeGAC”) 2023 earlier today. 

According to Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, Executive Chairman of DNeX and also Chairman of IAC, EGADS is Malaysia’s first application with SAGA 3.0 compliance leveraging SAP S/4HANA and local cloud for the public sector. 

EGADs offers eight main modules including Accounting, Fund Management, Controlling, Material Management, Human Capital Management, User Administration, Project System; and  Analytic and Reporting. The system is locally hosted and is accessible from any location, while enabling a shared-service model via a subscription to reduce user’s operational costs and enhance efficiency. 

DNeX through IAC expects to expand its system integration capability in transforming the Government’s legacy system from a cash to an accrual accounting system, said Tan Sri Syed Zainal Abidin Syed Mohamed Tahir. 

“We have the potential to tap into more than 400 government agencies to utilise our solutions in digitalising their financial and accounting systems. This is in line with the Government of Malaysia’s aspiration to accelerate the country’s technological innovation in advancing its services and processes digital economy to drive digitalisation throughout the country,” he said. 

IAC is the contractor of the Integrated Government Financial and Accounting Management System (“iGFMAS”), the Government’s accrual accounting system.

EGADS has adopted the accrual basis best practice to allow accountability and transparency of the management of public sector resources, while enabling better financial management through the complete view of Government assets and liabilities. With EGADS, users can empower agencies with effective financial solution for financial processing, reporting and management.

Users can benefit from the unique points of EGADS namely: 

  • Slingshot your Organisation with a Solid ERP Platform
    Built on SAP S/4HANA, the ERP system that offers real-time analytics, streamlined processes, enhanced user experience, and improved data management. 
  • Compliance has been Simplified
    Developed by the same talents who implemented iGFMAS. Compliance with SAGA 3.0, SASAR, and MPSAS has never been easier. 
  • Data Secured at all Times
    Locally hosted in an SAP-certified data center, your data is protected against threats. 
  • Premium is Now Affordable
    No hidden charges. One fixed subscription fee for added convenience and ease of budgeting. 
  • Make Informed Decisions
    No more system lag with in-memory and cloud technology. Financial information is presented in real-time and available at your fingertip. 
  • Get More For Less
    More features than our competitors – Human Resources, Analytic, and more. All in a single and easy-to-manage subscription.
Present at the launch of EGADS are Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, Executive Chairman DNeX and Chairman IAC, and Datuk Dr. Yacob Mustafa, Accountant General of Malaysia

From left to right:

  1. Herman Faizal Kasbun – Director, Sales IAC
  2. Mazlan Tuhiman – Acting CEO, IAC
  3. Tan Sri Syed Zainal Abidin Syed Mohamed Tahir – Executive Chairman, DNeX and Chairman IAC
  4. Md Husaimi Abd Wahab – Head, Next Gen Enterprise Applications, IAC
Screenshot of EGADS