As the Managing Director of JOS Singapore, Andrew Tan spearheads JOS business and operations in Singapore, leading the company’s transformation and growth. He took up this position in 2016, bringing with him more than two decades of business experience in the technology field, blending his technology expertise with his strong business acumen.
Singapore Budget 2019 Insights: Stay at the forefront of technology and innovation
Navigating through global uncertainties
Sands are shifting. We are living in a volatile, uncertain, complex and ambiguous (VUCA) world. Recognising these challenges, Singapore Budget 2019 shows a clear intent of continuing to transform the economy and help organisations navigate global uncertainties through innovation, internationalisation and capability building. The strategic plan also focused on long-term imperatives such as embracing economic transformation, defence and security.
Budget 2019 saw the Government expanding the scope of existing policies compared to the usual slew of new measures. With Singapore moving towards to become a Smart Nation and innovation node, you, as a business leader, need to leverage technology to enable your business and accelerate your digital transformation efforts through partnering with technology providers.
In this digital era, technology is no longer a luxury, it is a necessity. This is exemplified by Singapore Government’s continued R&D investments in Budget 2019. For instance, two new Centres of Innovations for Energy and Aquaculture will be established to accelerate technology commercialisation of cutting-edge innovations to improve the competitiveness of Singapore firms globally.
The strategic vision of Smart Nation also reiterates on how local companies should harness digital technology to enhance the way we work. To achieve Smart Nation ambitions, workplace needs to be disrupted. In fact, with more millennials entering the workforce, we are seeing more organisations embracing smart workplaces with flexible workspaces and the use of technology like Internet of Things (IoT), Artificial Intelligence (AI), machine learning and analytics. These technologies are being integrated with the existing Unified Communications, allowing employees to stay connected as well as communicate and collaborate anywhere, anytime, with the use of their preferred devices.
In smart workplaces, it is imperative to ensure a seamless user experience when employees engage in tech-enabled solutions, boosting employee productivity and efficiency. After all, happier employees can translate into higher revenue!
As the economy continues to transform, companies need to have a good grasp of business knowledge, strategies and innovation to thrive. This is especially so with evolving trends like structural changes in the global economy and advancement of technology. In fact, the Singapore government continues to show support in initiatives involving expansion of digital capabilities and strengthening of the business ecosystem. For instance, SME Go Digital programme allocates grants for SMEs to ramp up their digital transformation efforts. By fostering pervasive innovation and building deep enterprise capabilities, companies can attain further growth opportunities and sustainable revenue.
The impending tightening foreign worker quota in the services sector aims to encourage firms to reduce dependency on foreign labour. Firms will have to incorporate their business processes with industry 4.0 technologies like IoT and Big Data to overcome this challenge. The Government is also extending its grants like Productivity Solutions Grant (PSG) to encourage SMEs adopt technology solutions to enhance business processes.
One of the long-term imperatives mentioned during the Budget 2019 was security. With the proliferation and sophistication of malicious cyber activities, Singapore needs to be vigilant and innovative to stay ahead of these threats. Organisations should rethink its business processes and constantly review existing policies and overall security measures to mitigate risks.
It is fundamental for businesses to have a solid business contingency plan in the event of unforeseen circumstances. If your organisation suddenly experiences data breach, cyber-attacks, system failure or natural disaster, do you have what it takes to recover from the incident or mitigate the loss? For any business, big or small, it is crucial to have a business continuity plan to navigate its way through the possible threats it may face.
Budget 2019 emphasizes that technology disruption is something we must confront and harness to our advantage. In fact, every company is a technology company, given the indispensable role technology plays in daily operations. Technology can augment the workforce capabilities, resulting in improved productivity and better job satisfaction.
Nevertheless, the success of organisations embarking on digitalisation requires more than a mere technology platform. It requires people, process and technology. Business leaders need to ensure that the digital initiatives are aligned with their overall business vision and strategies and they are well-communicated throughout the organisation.
In a long run, implementing the right technology with the right technology provider can help Singapore businesses to thrive and navigate through global uncertainties. Equipped with core capabilities in technologies such as AI, Big Data and Cloud Computing, JOS aims to be your trusted technology partner as you embark in your digital transformation journey. You can leverage JOS’s technical capabilities while you focus on what matters the most to you – your core business.
Take small steps that produce big results. Embark on your digital transformation journey today!