How tech-ready 
 is your SME?

We’re at the onset of Web 3.0 and the Fourth Industrial Revolution – and while no one can yet be certain what form or shape they will take, it’s testament to the rapid and constant evolution of technology and how it affects the ways we live, work and play.

Businesses need to transform themselves digitally to keep pace. A statistic from Microsoft Asia Digital Transformation Study conducted in 2016 that 66% of Singapore’s organisations do not have a full digital transformation strategy in placeⁱ calls for greater urgency towards tech-readiness.

But how do you know whether your business is tech-ready? Read on below and take the StarHub Tech Readiness Assessment to find out.

The world is becoming a smaller place not just as a result of faster and more affordable transportation, but also because of rising connectivity levels.

Today, there is even greater importance to always be online. Connectivity is not just for interpersonal connections – networks are expected to interconnect users, machines and business applications seamlessly, regardless of geographical location. Your connections both internally and with the outside world depend heavily on your network infrastructure.

Make sure your network is reliable and strong enough to support your digital transformation.

Technology has done wonders for business productivity and collaboration. Besides enhancing efficiency through office software and digital solutions like Microsoft Office Suite and Dropbox, it has opened the door for a mobile workforce.

The way people work today is a far cry from the past – workplaces today are virtual, flexible and interconnected so employees can work on-the-go and on their own schedules. This is a much-anticipated shift as companies seek to enable their employees in their personal pursuits and family priorities.

"Work is no longer a place people go to. It is something they do." – Mark Dixon, founder and chief executive of global flexible workspace provider Regusⁱⁱ

To drive the mobility of your business, equip your teams with the devices and tools needed to work anywhere, anytime without compromising quality. Constantly assess if collaboration and communication channels are being maintained seamlessly, as a mobile workforce will not function well without them.

These will allow you to work towards being a smarter and more mobile organisation that meets its workers’ goals, even outside of work.

On top of mobile workers connecting to public networks, data is also being moved away from local storage and into the cloud. Being in the cloud is a particularly cost-effective option for small businesses, which often do not require the capacity that comes with even the smallest servers. What’s more, cloud storage also allows you to scale up readily, and provides a convenient means of file sharing.

However, hosting your data externally may make your company more susceptible to cyber threats. 77% of companies in Singapore detected one of more cyber incidents within a twelve-month periodⁱⁱⁱ. Ensure that you have a robust cyber security system in place to protect your data.

As you may not have dedicated security personnel to actively monitor threats, cyber security solutions are practically a must-have in helping to predict, detect and alert you to cyber attacks. Smaller, known threats can even be mitigated without needing you to take action. You can then focus on other business areas to strategise and grow your company.

One business area that needs to respond to technological changes quickly is sales and marketing.

As your customers hop on to new digital platforms, you will need to know how to reach and engage with them in that space. You can maximise the effectiveness of your customer outreach by employing a data-driven approach, combining near real-time information, customer data in your internal database and smart targeting tools.

Choose the right partner to support your data-driven strategies. With its island-wide network coverage, StarHub can deliver insights from telco, social and media analytics, so you can target your customers more accurately and effectively through interactive digital channels such as SMS, web and apps – leading to strong relationships and long-term sales.

Is your business tech-ready? Take this assessment to find out if you have the right tech capabilities and get a full report with recommendations from our team of experts to accelerate your digital transformation journey.

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ⁱhttps://news.microsoft.com/en-sg/2017/05/03/75-business-leaders-singapore-believe-need-digital-business-succeed-microsoft-study/

ⁱⁱhttps://www.forbes.com/sites/forbesleadershipforum/2012/10/09/how-to-manage-the-new-mobile-workforce/

ⁱⁱⁱhttps://www.pwc.com/sg/en/publications/assets/gsiss-2018.pdf