Transforming and Boosting SMEs Through Singapore Industry Digital Plans
Singapore has always been progressing ahead of its neighbours and going with the change of times is inevitable. To further sustain industries in Singapore, the government is providing ten major industries with digital plans, the Singapore Industry Digital plan. Each industry has its challenges and opportunities to expand with the help of digitalisation.
Accountancy
Accountancy services is a long-standing and essential service to any business entity. By today’s standards, accountancy has become more efficient with the advent of software to reduce work time. The current accounting firms are facing a multitude of new business disruptors. These new business ventures are changing the traditional processes. As such, the current accounting firm would need to step up their game and enter digitalisation. With every introduction of new technology, every aspect of the industry or enterprise would benefit from a steep learning curve. Learn more about Accountancy Industry Digital Plan.
Environmental Services
A developed nation encompasses not only in its infrastructures but also its environmental management. With almost every square foot of Singapore brimming with mixed developments, the effort to keep the island safe, healthy and clean is rather demanding. Currently, environmental services in Singapore have yet to fully adopt digitalisation. The industry calls for human resources working on-site from monitoring to execution. But, with low wages and demanding nature of work, the industry is stretching its resources to be sustainable. The adoption of digital technology within environmental services can help meet a wide range of demands. Learn more about Environmental Services Industry Digital Plan.
Food Services
Food is a basic necessity for all. To live, people need to eat. But as lifestyle changes, people are demanding a better option with the convenient suited to them. The wide range of food services in Singapore is also proof that the industry is burgeoning with cultural and societal opportunities. Food services industry in Singapore is already transforming, but there is still a high reliance on the workforce of all sorts to keep it going. Every foodservice enterprise should commence digitalisation to improve job quality as well as operating efficiently. Learn more about Food Services Industry Digital Plan.
Hotel
The backbone of the tourism industry is hotel accommodation. The fundamental of hotel services is in its hospitality. Some hotels are falling behind as they believe that direct hospitality will always work. Interestingly, travelers now are ranging from backpackers to young established talent and the usual corporate crowd. It is due to their demands of convenience and engaging experiences that the hotel industry in Singapore is becoming competitive. It rings true that hospitality goes a long way, but digital reception would mean satisfaction and a different experience to the newer generation. Hence, the hotel industry in Singapore should begin to utilise digital technology to appeal and address the new age travellers. Learn more about Hotel Services Industry Digital Plan.
Logistics
The logistics industry in Singapore is one of the largest sectors that go unnoticed. People take it for granted that if they were to order items locally or from overseas, it should reach their doorstep in time and on time. Many SMEs make up the industry in Singapore. Some are in the warehousing, freight forwarding or land transportation. Thus, SMEs at any stage of service should embrace technology and automation. Among the benefits re a broader skillset of the workforce and efficient work processes. This, in turn, will lead to higher demands of services. Learn more about Logistics Services Industry Digital Plan.
Media
The media industry in Singapore is responsible for the dissemination of information through multiple forms of entertainment. This is to cater to the different age groups and preferences in society. In today’s world of media, businesses also look to media to engage with the right target audiences. Media with the right amount of data combined with a creative and personalised approach captivates users. User engagement and user experience are the current buzz words. Both can effortlessly be acquired with the right technology to reinvent content and value for new markets. Learn more about Media Services Industry Digital Plan.
Retail
The retail arena in Singapore or anywhere are similar to one another. More people acquire information from their mobile. Hence, they require shopping convenience at their fingertips. The retail sector is now seeing more people favouring e-commerce and online shopping platforms. This is causing retailers to innovate selling their products online or suffer losses. Many people can easily share online product promotions with others; hence retailers will amass high-value marketing as well as potential customers if they were to embrace digital technology. Learn more about Retail Services Industry Digital Plan.
Security
The security sector in Singapore functions as a support to law enforcement agencies. Building owners and facilities commonly engage private security services to ensure safety. The job requires individual personnel, which there is always a shortage of interested individual for the job. Naturally, it is unappealing, thus affecting the quality of service. SMEs are looking at the rising cost to sustain the business, lack of career development and the shortage of labour. All these factors increase the need to utilise digitalisation for Singapore’s security sector. Learn more about Security Services Industry Digital Plan.
Wholesale Trade
Cheaper by the dozen as the idiom says. It rings true for the wholesale trade industry. The industry is also the largest and most diverse. It provides to other segments that make up the economy. The wholesale trade is facing stiff competition from other ASEAN countries, and this has heightened trade tensions. To further convenient different segments, SMEs in this industry should readily incorporate digitalisation and internationalisation. Thus, together with growing a vibrant trade environment in Singapore. Learn more about Wholesale Trade Services Industry Digital Plan.
Utilizing these digital plans, you can establish business with less hassle and gain more lucrative opportunities along the way. Further, you can make your brand stand out in Singapore with Singapore Brand.
