THE ABSOLUTE 5 TOP REASONS WHY SINGAPORE COMPANIES SHOULD GO DIGITAL
Updated: May 24, 2019
Digital transformation is happening all around us. From basic mundane tasks such as archiving files to cutting edge AI recruitment technology, there are endless shades of very helpful innovations in between. Many big companies have completed their digital transformation while many SMEs (Small & Medium Enterprises) have started theirs. The “4th Industrial Revolution” is one that you cannot afford not to be part of. Let us take you through 5 of the top reasons why your company should go digital.
1) THE SINGAPORE GOVERNMENT ADVOCATES DIGITAL TRANSFORMATION
It will be a big challenge when the infrastructure of the country you are in, does not support the growth you have in mind for your company. Your luck is starting to get brighter as the Singapore government is fully on board in the “Let’s Go Digital” bandwagon. Reports were stating that the government offices will be digitally transformed by the year 2023. Imagine the funding and initiatives which will be thrown at you as you journey with them toward this auspicious targeted year.
PM LEE’s speech at STACK Developer Conference, 2 October 2018 - “Often the technology for these applications is not complex, but the re-engineering and redesign of processes requires a lot more work and a deep understanding of the end user’s perspective and psychology, as well as organisational dynamics and change”
See more at:
PM Lee's Speech at Stack Developer Conference
Singapore’s Digital Government Blueprint
SmartNation article on Digital Transformation
2) CUSTOMERS GET ENGAGED DIFFERENTLY
Customers are the bread and butter of any businesses. Losing customers is as good as losing revenue streams. With digital technology, customers have a safe space to explore and learn products, get helpful resources that help with any troubleshooting as well as instantly communicate their concerns or feedback. Amazon is a perfect example of this. Not only did Amazon manage to retain customer loyalty, they also manage to create a customer community that enables other customers to engage with each other.
Bill Gates, founder of Microsoft Corp - “Your most unhappy customers are your greatest source of learning.”
JC Penny - Every great business is built on friendship
Amazon, on customer engagement - “These statistics paint a very clear picture: in order to succeed in this highly competitive environment, organizations must deliver digital content that delights and engages their customers.
See more at :
Amazon article on customer engagement
3) WORKPLACE PRODUCTIVITY IS OPTIMISED
Want to enable 4 of your colleagues to work on the same spreadsheet simultaneously? Get Microsoft Sharepoint. Want to start an e-commerce website? Get Shopify. Want to start a product demo via a public video platform? Start a Youtube channel. The tools and solutions are already out there. A problem that you found existing in your scope of work, might have already been solved with a tool that has been published on the web. These tools not only solves the issues you encountered, but they also reduce your workload. With helpful website builders such as Sitebeat.com, Wix.com and Weebly.com, you don’t have to stare at the screen anymore to figure out why your HTML script does not work. Getting a job done takes half the time with the right tools.
See more at :
Microsoft Study on Digital Businesses in Singapore
PC Magazine review on Microsoft Sharepoint https://www.pcmag.com/article2/0,2817,2490933,00.asp
4) FACILITATE NEW STRATEGIES AND BUSINESS MODELS
Along with digitalization, comes a way for you to analyse data. Data is such a critical commodity which you can use to further enhance how you do business. Tools such as Google Analytics serves a great purpose for you to study how your business is running. Not only does it tell you how your customers interact with your products, the feature even tells you what kind of customers are looking at that new shoes you just launched. Analysing data on your web space can determine how you strategise your business model. You have the AI to advise you what works and what doesn’t. This valuable asset is a must have for any businesses.
Peter Sondergaard, former EVP Research and Advisory, Gartner - “Information is the oil of the 21st century, and analytics is the combustion engine.”
Jeff Bezos, Amazon CEO - “If you don’t understand the details of your business, you are going to fail.”
See more at :
Business Insider article on Google Analytics
Medium article on Google Analytics
5) THE INDUSTRIAL REVOLUTION 4.0
Smart devices are getting smarter. Smart fridges are able to tell you which of your food is expiring. Google is able to tell you how your day is like and Alexa is able to switch your TV channels at the command of your own voice. These devices are transforming the world. Automation is becoming more of a norm than a Sci-fi concept. Home renovations are coming up with all sorts of smart installations that lights the fireplace, snow melting system, draws the curtains all at the touch of a button (SMART HOME ARTICLE) . Companies such as Siemens and Rockfarm Supply Chains are already using smart factories to manufacture their products (SMART FACTORIES) as well as getting the AI to monitor developments. In the near future, these practices will be the new normal, which is why sticking to traditional means, is a bad idea.
Kevin Wo, Managing Director of Microsoft Singapore - “Lessons from past industrial revolutions have taught us that organisations that do not evolve fast enough will be less competitive or even obsolete as they face disruptions in every industry.”
See more at :
Forbes article on the Industrial Revolution 4.0
TechRadar article on the Industrial Revolution 4.0
Anchor your company into the Industrial Revolution 4.0 to get yourselves future ready by enrolling in either the Basic Level or the Enhanced Level Skillsfuture For Digital Workplace course with Singapore National Employers Federation (SNEF). Received $650 worth of generous grants for each participant. Find out more below -