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Singapore supports SMEs’ digital transformation

With its mission to further improve the digitalisation of various business sectors, Minister for Communications, and Information S Iswaran noted that Singapore’s digital future is underpinned by several things including competitive enterprises that leverage digital technologies to innovate and grow. He also highlighted that because of the pandemic, many traditional brick-and-mortar businesses have pivoted towards hybrid online-offline models to engage and transact with consumers.

For the Government to further adapt, one of the new initiatives announced was a new Chief Technology Officer (CTO)-as-a-Service scheme that will include a one-stop, self-help tool for small-and-medium-enterprises (SMEs) to assess their digital needs and gaps. SMEs can then access customised recommendations on digital solutions based on the company profile, and information on Government support, adding that the Infocomm Media Development Authority (IMDA) would work with the relevant agencies on the initiative as part of Singapore’s Smart Nation drive. SMEs that need more in-depth advice can tap on a shared pool of CTO- equivalents or digital consultants with expertise in areas such as data analytics, cybersecurity, and artificial intelligence.

Minister also noted that these digital consultants will be managed by IT consultancy firms appointed by IMDA and will be selected based on their digital skills and experience in relevant industries. Firms will receive both digital consultancy and project management services to identify needs and solutions, as well as manage project implementation. These resources will be accessible to all registered SMEs, including home-based businesses which are sole proprietorships. The service will come in the form of a web application for the service, accessible via computers or mobile devices. said, Minister.

He also announced a new Digital Leaders Programme, which will equip firms with the capabilities and talent to accelerate their digital transformation journey. The programme will provide up to 70% support on qualifying costs to help companies build a core digital team to develop and execute their digitalisation strategy. It will also connect companies with tech partners to develop new digital products and services, and better position them to compete internationally.

The minister said the programme will initially support up to 80 companies, beginning with those more advanced in their digital journeys, with management teams committed to driving digital transformation for sustained growth. It will be managed by IMDA and Enterprise Singapore as well as other economic agencies. Firms in the programme will participate in a two-year pilot, receiving funding support to help build an in-house core digital team, and develop a proof of concepts for new digital products and services, adding that the programme will be launched this year.

The IMDA is also introducing the Better Data-Driven Business (BDDB) programme, which will provide firms with free tools and guidance to help safeguard their customers’ data while more effectively using data to remain competitive. The programme will also provide a free business intelligence tool that can convert raw data into visual dashboards that can aid business outcomes such as better sales and operational efficiencies. It will also enable more advanced data uses, such as for R&D and innovation, through curated resources such as case studies and videos.

Meanwhile, another S$50 million will be invested in IMDA’s Open Innovation Platform – a crowd-sourcing platform that matches business challenges to technology solution providers – to enhance its capabilities, the Ministry said. This will help more enterprises access innovative solutions and accelerate the deployment of digital innovation at scale. IMDA will also co-fund the prototyping of matched challenges to help innovative tech companies expand their market base.

In support of these efforts, it has been reported that more than S$500 million of the Fortitude Budget will be allocated to support the digital transformation of businesses, including support for e-payments, adopting digital solutions and deepening digital capabilities, announced Deputy Prime Minister Heng Swee Keat.

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.

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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.

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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.

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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. 

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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.

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