One of the major ways for small and medium-sized enterprises (SMEs) to differentiate and be successful in today’s competitive business climate, is to place their employees at the forefront of digital transformation.
According to a poll from Microsoft in 2017, which covered 14 Asian markets, 84 percent of business leaders in Southeast Asia acknowledge the need to transform into a digital business in order to succeed. In many Asian countries, most notably in Singapore, the government has been supportive of local SMEs going through digitalization. This is in the form of grants and subsidies.
The need for businesses to digitalize their businesses in order to stay relevant and competitive in today’s market. But what does it actually mean to digitalize your business model? Once all the technology has been bought, developed or acquired, what else is there to do? We’ve distilled three major things for you to consider.
We wrote about digital transformation here.
Engage your customers
Consumers have the ability to educate themselves on a product or service before making a purchase. So, in order to stand out, businesses need to differentiate and provide value upfront for consumers to bite.
This means changing how you view consumers. This can be challenging for many companies.
Empower your employees
Organizations now have the ability to empower their employees by helping them do their jobs better. This includes allowing them to collaborate from any place, on any device, with access to the programmes and data they need. The company can de-risk their job and allow them to succeed.
Optimize your operations
The advancement of the technological landscape is revolutionizing the operations of many businesses through optimization. This is shown quite clearly in areas like data analytics, automation, and even departments like marketing.
Predictions and the ability to adapt allows organisations to say nimble, even if they are large with many different parts.
If you have any suggestions or just want to chat, drop us a message here.