A member of the fast-growing censof Group of Companies, censof was set up in 1997 by a former government accountant who saw an opportunity to improve accountancy via innovative technology.
“My partners and I decided to develop a financial management system that specifically catered to the government as a way to create a niche market. We are now only starting to look at other markets. We know that we are capable of competing with anyone globally,” explained group managing director Datuk Samsul Husin.
Through the years, censof has had success with several landmark projects of the Malaysian government. Currently, censof is working with the ministry of finance on the Outcome—Based Budgeting (OBB) project, which involves twenty— seven government ministries. The OBB project streamlines planning and performance monitoring, and comes with a result framework and a budget portal.
censof is also participating in the development of the Malaysian Social Security System’s core system.
“We are part of the e-RAS (Electronic Revenue Accounting System) project with the Inland Revenue Board of Malaysia. We are very proud of this project. The Web-based payment system reduced total processing time for payments from more than a month to just a few days,” said Samsul.
Following a successful IPO in 2011, censof is looking for opportunities to expand overseas. It now has offices in Atlanta, Sydney, and Jakarta. censof has shown huge interest in developing its business in the United States, where it worked on analytic reporting for organizations such as the New York Times.
“In terms of our products, we have our own, which are technically on par with any other product in the world. Our solutions provide value for money compared to other products in the market. We own these products, which gives us the flexibility required to specifically help our clients in reducing their costs and improving their efficiency,” he said.