January 31, 2021
January 31, 2021
The common challenges that SMEs face are:
In order to overcome these challenges, local SMEs could:
Below is more information on what digital transformation is and how it could help businesses to stay relevant and be competitive in the new business landscape.
Digital transformation is defined as the adoption of digital processes and tools to achieve strategic business goals. It is a complicated process that represents a cultural shift in the workplace and changes affecting every part of an organization.
The fundamental key areas of digital transformation include:
Every member of the organization is involved in achieving a shared vision. This often means working together at different levels of an organization and across different teams and departments.
The whole process shifts away from traditional business structures and hierarchies as well as empowers employees to make decisions and contribute ideas.
The system is economical and agile, allowing businesses to choose one that meets their needs and eventually streamline their IT and infrastructure costs.
To be on mobile where more or half of all web traffic is generated.
Always experimenting and learning from outcomes to inform a larger change across the company.
Continuous learning and evolving.
Focused on providing better service and experience for your clients.
Digitally transformed businesses empower employees through transparency, learning opportunities, and open communication. With provided data, employers are able to track and improve their employees’ performance for the overall growth as well as development of the company.
Business that embrace and adapt to the change can expect growth of revenue from making smart decisions and training employees in emerging industries using ready available data.
Digital businesses are able to build resilience by replacing fixed structures and inflexible processes with a workplace culture and infrastructure that will respond as well as adapt to new market demands.
Avoiding the competency trap
Change is sometimes unavoidable especially during these times. We all need to adapt to the ever-changing business landscape when things eventually stop working. It is often said that what may work yesterday, may not work again today, and therefore waiting for the opportunity or the means to do it would eventually mean making decisions for short-term survival rather than a long-term growth.
How NuVista Technologies’ expertise can help SMEs boost productivity and accelerate growth?
However, the focus at the end of the day should be on how a company is able to leverage on technology to support business strategies or goals, rather than why and how your business should become a technology company. NuVista Technologies can help SMEs adapt, advance, and become future-proof in today’s business environment.
NuVista Technologies is based in Singapore and is an ISO Certified leading cloud solutions provider with more than 18 years of experience offering Enterprise Solutions, Custom Application Development, Staffing and Outsourcing Services, a trusted strategic partner for leading organisations from start-ups, SMEs, MNCs (including fortune 500 companies) to government agencies and a cost-effective unified digital solutions provider that can rapidly implement fast-track digital transformations successfully to increase operational efficiency and business performance for our clients.
Local SMEs can be eligible for up to 80% funding with the Productivity Solutions Grant to digitalise their businesses.
The Productivity Solutions Grant (PSG) supports companies keen on adopting digitalisation solutions and equipment to enhance business processes. The Productivity Solutions Grant covers sector-specific solutions including retail, food, logistics, precision engineering, construction, landscaping industries as well as adoption of solutions that cut across industries, such as customer management, data analytics, financial management and inventory tracking.
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