KUALA LUMPUR (Jan 23): Censof Holdings Bhd (KL:CENSOF) said on Thursday that it has secured a RM4.3 million contract from pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP, to replace and implement a new cloud-based accounting system.

The system, dubbed the government resource planning (GRP) system, is designed to migrate operations from on-premises to cloud-based platforms, aiming to enhance efficiency, scalability, and accessibility while streamlining processes and improving adaptability.

The contract includes a 12-month implementation phase, a 12-month warranty, and a four-year subscription period.

According to Censof, the GRP system integrates critical functions such as financial management, human resources, procurement, and compliance. It offers real-time data access and reporting tools to improve governance, transparency, and accountability.

Equipped with advanced analytics and dashboard features, the GRP system will provide KWAP with real-time insights to support data-driven decision-making and improve operational performance, the company added.

“This selection underscores our team's unwavering commitment to delivering high-quality work and our proven ability to develop innovative solutions tailored to the unique needs of leading institutions like KWAP,” said Censof group managing director Ameer Shaik Mydin.

He noted that with over 25 years of experience, Censof has consistently refined its GRP systems to align with evolving technology trends.

Censof specialises in offering comprehensive financial management solutions for government and commercial sectors, small and medium enterprises, and start-ups.

Shares in Censof ended one sen, or 3.9%, lower at 25 sen on Thursday, giving the company a market capitalisation of RM138.1 million.