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Tech and Digitalisation Lead Singapore’s Future

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Singapore’s Deputy Prime Minister, Heng Swee Keat, has underscored the pivotal role of technology, digitalisation, and automation in propelling the nation’s industries and enterprises into the future. In a rapidly evolving global landscape, these initiatives are not just a choice but a necessity for addressing pressing challenges and unlocking new growth prospects.

“The world is facing structural changes in many areas – demographics, technology, climate, and trade. Singapore, as a small country, must anticipate and prepare for these shifts,” said DPM Heng.

Efficiency and productivity stand as the foremost benefits of technology-driven transformation. Through the automation of routine tasks and the optimisation of processes, businesses can accomplish more with fewer resources and reduced manual labour. This heightened efficiency leads to substantial cost reductions, making operations leaner and more competitive. Moreover, digitalisation eliminates the burden of paperwork and manual record-keeping, further contributing to cost savings.

Yet, the transformation goes beyond cost reduction. It revolutionises data management. The digitalisation of operations allows for the efficient collection, storage, and analysis of vast amounts of data. This data reservoir empowers businesses to gain valuable insights into customer behaviour, market trends, and operational efficiency. Consequently, data-driven decision-making becomes a competitive advantage, enabling companies to better understand and meet customer demands.

Enhancing the customer experience is another critical dimension. Technology and digitalisation enable companies to provide superior customer interactions. This includes personalised engagement, convenient online shopping experiences, real-time customer support through chatbots, and more. Satisfied customers are more likely to remain loyal and advocate for a company’s products or services.

Likewise, this digital transformation fosters a culture of innovation. Automation and digital tools streamline processes, expediting the development and deployment of new products and services. This agility allows companies to swiftly adapt to changing market conditions and outpace competitors.

Global reach is also a significant benefit. Digitalisation and e-commerce platforms eliminate geographical constraints, enabling companies to reach customers worldwide. This expanded reach can significantly enlarge a company’s customer base and revenue potential. Digitalisation further facilitates cross-border transactions and international market expansion.

Besides, technology, digitalisation, and automation foster economic growth and competitiveness on a national level. Nations that prioritise these advancements in their industries and enterprises experience sustained economic expansion. These innovations drive economic competitiveness, attracting foreign investments and fostering a dynamic business ecosystem.

DPM Heng also stressed the significance of collaboration in transforming Singapore’s industries and enterprises. The Industry Transformation Maps (ITMs) provide a roadmap for various sectors to address these challenges collectively, paving the way for a more sustainable and competitive future. The Transformation Advisory Committees (TACs) play a vital role in translating these ITMs into actionable plans and providing support to businesses during their transformation journeys.

For many SMEs, incorporating new requirements like automation, digitalisation, and sustainability into their operations can be daunting due to scale and capability limitations. TACs have to offer practical solutions and guidance.

Collaboration also opens doors to new opportunities for growth. Singapore’s SMEs are encouraged to explore fresh ideas and collaborate with larger players to contribute their expertise to various industries. One remarkable example is G8 Subsea, a local enterprise that developed the world’s first and largest floating solar substation for EDP Renewables in APAC. This collaboration not only strengthens G8 Subsea’s position as a leading provider but also presents opportunities for further projects.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.