Page 146 - Special Topic Session (STS) - Volume 3

STS523 Wan Z. et al.
is countless under the packages and the data stored within SSM. It allows them
to pick and choose any type of data they require for reference and decision-
making purposes. It is a tool that provides the right information at the right
time, and it can be significantly improved business outcomes by helping
employees to become more productive and efficient, allocating budgets
optimally, or boosting profits.
The information contained within the business registry on the annual and
financial filings from MBRS would benefit SSM in terms of data collection and
analysis purposes. The data in SSM are dynamic and its flexibility is
synchronized with changes that happens every day with registration,
submission, and lodgement when received by SSM. It is consistent with data
entry by human and automatically generated by the registration systems. Data
collection is an important aspect as it will assist SSM at the research end and
assist the Government in formulating new policies and measures to enhance
the business landscape and community in Malaysia. Hence, helping the
government to impose any policies and measurement for the business
community, improving their approach towards better nations.
The implementation of MBRS would facilitate Malaysia as a whole in
exchanging or sharing company information with other countries which have
similar XBRL taxonomies. Furthermore, it is also capable of translating
information into various languages. The quality of data that has been gathered
informed decision facts, trends, and statistical numbers. Furthermore, the data
collected does not change the prevailing accounting standards or regulations.

4. Discussion and Conclusion
The integrity of the source data can be relied upon in a more assured
manner since the creation of data would include validity checks, mathematical
automated calculations, and elimination of transcriptional errors. In order to
provide superior service delivery through operational excellence, the source
data has to be reliable and accurate before it can be used.
Only SSM can assure that since it is the custodian of business data in
Malaysia. SSM would be able to facilitate the analysis of financial reports to
aid investigation efforts (e.g. Anti-money laundering, fraud and other
compliance matters) and enhance corporate compliance processes and
improves data analysis and quality of information for enforcement purposes.
SSM also provides comprehensive information and data which can be
aggregated and sold to stakeholders in the form of industry analysis or
industrial benchmarking.

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