Global Infocomm Themes & IT Trends - From the perspective of an SME.

In the 2006 SME Development Survey that DP Information Group conducted on the 1,068 SME’s in Singapore, the survey findings reflected that 53% of SMEs feel that because of the introduction of new technology, productivity is improved in relation to their business growth.

When asked what the challenges are when they face new technology, 62% stated that they are unsure how to strengthen their technological capabilities, whilst another 16% cited lack of funding to adopt new technology.

With a high percentage stating that they are unaware about how to strengthen their technological capability, we highlight a few key areas where businesses can consider when tackling this issue.

 

Affordability and Accessibility is key to any Infocomm and IT improvements. These two factors come hand in hand when businesses are assessing the gateway to improving systems. When companies look at affordability, they not only need to look at the price but at the same time, they have to compare price competitiveness, they would also need to specify if they want to standardize or customize. Various IT vendors have a ready standardized package that comes with a more affordable price tag but if the solution does not fit into your company’s processes, it is highly likely that the system will not be utilized.The other option is to opt for a customized IT solution that offers not only the solutions but at the same time also offers technical support that you can rely on for assistance after implementation.

When looking at affordability, businesses can also consider utilizing web-based on-demand services. IT services have developed from in-house solutions to outsourcing these functions and then to on-demand solutions. This enables expedient web-based businesses such as: website hosting, web marketing, online transactions and subscription basis.

Business Process Improvement is another area in which a company can examine to incorporate the improved technology. These business processes can include process automation that looks at the backroom to front desk operations. It can also be in the area of Management Support, where processes support management in reporting the present and forecasting the possible future scenarios. Another area may be in Business Intelligence, where data can be culled to include sophisticated intelligent searches and/or monitoring to be the basis of marketing strategies.

During the recent opening of Nippon Express Singapore's new facility in the airport logistics park of Singapore on the 23rd of February, Mr Lee Yi Shyan, Minister of State of Trade and Industry, said that logistics companies in Singapore benefit from having a competitive edge in the area of supply chain visibility. Through the use of IT, companies are able to track and trace their shipments with ease. To create opportunities for supply chain optimization by enhancing supply chain visibility, the Singapre Government will launch optimization by enhancing supply chain visibility, the Singapore Government will launch TradeXchange® in October 2007. With TradeXchange®, businesses can expect to save more than $75 million over 10 years just from reduced trade permit cost alone.

 

Security threats will always be prevalent in the business world, companies can mitigate these risks by implementing security standards and/or practices. These can be through IT process discipline which reduces costs and at the same time improves security. It can also adopt an information security management system that is benchmarked to industry standards.

Technology management these days means that companies should leverage and realize the benefits of technology. Not only do businesses and IT competence have to converge, at the same time, they have to be co-creators of opportunities for the business.