Singtel offers more support to accelerate AI adoption among Singapore SMEs

- New programme to help small and medium enterprises (SMEs) move from AI experimentation to real-world implementation 

Source: Singtel. An AI.dea training scenario.

Singtel Singapore has launched AI.dea — an AI business transformation programme, developed in partnership with SIM Academy to help SMEs in Singapore accelerate AI adoption and unlock new opportunities for productivity, innovation and growth.

As AI moves from experimentation to real-world deployment, many businesses continue to grapple with the complexities of implementation, Singtel said, observing that while AI has proven to be a powerful driver of productivity and growth, adoption among Singapore SMEs remains relatively low.

While digital adoption among SMEs in Singapore has grown significantly in recent years, Singtel said that many businesses continue to face challenges in fully realising value from new technologies, particularly in complex areas such as AI.  

According to the Infocomm Media Development Authority’s (IMDA's) Singapore Digital Economy Report 2025*, only 14.5% of SMEs have implemented AI solutions, compared to 62.5% of larger enterprises — a wide competitive gap.  

AI.dea aims to address this gap by making AI accessible, practical and secure for local businesses. The programme will equip SMEs with the capabilities to integrate AI into their operations and compete more effectively in an increasingly digital economy. To boost adoption, eligible SMEs will receive up to 90% in funding from SkillsFuture Singapore.  

Ng Tian Chong, CEO of Singtel Singapore, said, “AI has quickly become a key driver of business transformation, but many organisations are still figuring out where to even begin. Singtel Singapore’s own journey has shown that success with AI requires more than just technology — it takes the right capabilities, governance and mindset. 

"With AI.dea, we are bringing these lessons to SMEs, helping them to adopt AI applications before committing to full-scale deployment so they can realise tangible business outcomes.”   

Ho Seong Kim, CEO of SIM Academy added: “As Singapore advances its National AI Strategy, SMEs — the foundation of our business ecosystem — must be equipped to participate meaningfully in this transformation. As the selected learning partner for this programme, we leverage our expertise in applied, outcome-driven learning to help SME leaders build in-house capabilities, develop actionable adoption strategies, and implement AI with confidence to drive tangible business outcomes.” 

AI.dea is designed to help SMEs overcome common barriers to adoption, including limited in-house expertise, uncertainty around implementation, and concerns around data security and governance.

Through a structured, hands-on approach, participants will design, build and validate real-world use cases tailored to their business needs.

Participants will benefit from:

· Hands-on application: Design and test AI use cases through guided proof-of-concept development

· Expert guidance: Learn from practitioners with experience in scaling AI across organisations

· Governance and security: Build capabilities in AI governance, data protection and risk management

· Strategic roadmap development: Define AI ambition and develop a clear, actionable adoption plan

Advancing SME digital transformation 

The AI.dea programme complements Singtel’s broader suite of SME-focused initiatives:

· TikTok Masterclass: A brand-building and e-commerce enablement programme that helps SMEs to strengthen their digital presence, connect with customers more effectively, and capture growth opportunities in the digital economy.

· Cyber Protect: A tripartite initiative by Singtel, Enterprise Singapore and IMDA to bolster SMEs’ cyber resilience through workshops, curated learning resources, and subsidised cyber solutions, enabling businesses to identify risks, adopt stronger cyber hygiene practices and better protect themselves against evolving cyber threats.

· Cyber Elevate: A training programme which provides cyber risk audits, resilience workshops, and mentorship to help SMEs prepare, detect, respond to, and recover from cyberattacks at heavily-subsidised rates, with support from law firm Drew & Napier and incident response firm Blackpanda as consultants.

· Defence Against Cyber Scams: Developed for large enterprises to upskill and reskill their employees to be better able to identify, combat and prevent scams.

· SPEED: A 15-month initiative aimed at helping SMEs decarbonise through education, energy-efficient technology deployment and continuous improvement strategies. The programme is designed to enable SMEs to go digital and achieve environmental goals at the same time.

As a SkillsFuture Queen Bee, Singtel plays a pivotal role in enabling enterprises – especially SMEs – to upskill, digitalise and innovate. Its end-to-end solutions – spanning mobility and connectivity, to cybersecurity, Internet of Things (IoT) and collaboration tools – are tailored to evolving business needs. 

Details

The programme fee is S$15,000 (before GST), with up to 90% funding available for eligible businesses under the Enhanced Training Support for SMEs programme, supported by SkillsFuture Singapore.

To qualify, companies must:

· Be registered and incorporated in Singapore

· Have at least 30% local shareholding by Singapore citizens or permanent residents (PRs) 

· Have an annual sales turnover not exceeding S$100 million or an employment size of fewer than 200 employees

Businesses interested in the programme can register their interest at https://www.singtel.com/business/smb/solutions/ICT/ai-dea

*Singapore Digital Economy Report (SGDE) 2025

NUS Business School MBA ranked No. 1 in Asia for third consecutive year

Source: NUS. The NUS Business School.

The National University of Singapore (NUS) Business School’s Master of Business Administration (MBA) is ranked first in Asia for the third year in a row in the Quacquarelli Symonds (QS) Global MBA Rankings 2026.

The 2026 edition of the QS Global MBA and Business Masters Rankings evaluates programmes based on key performance indicators, including Employability, Return on Investment, Entrepreneurship and Alumni Outcomes, Thought Leadership, as well as Class and Faculty Diversity. The NUS MBA programme rose two places to 23rd worldwide, achieving its highest-ever global position in an evaluation pool that expanded by almost 15% from last year. It now ranks among the top 6% of 390 MBA programmes assessed globally by QS.

According to NUS, the latest results underscore the NUS MBA programme’s educational rigour, commitment to global competitiveness, and definitive impact on its graduates’ professional development and long-term career success.

In the latest rankings, the NUS MBA achieved an overall score of 87.0 out of 100. The programme scored at least 30% above the global average for key indicators such as Thought Leadership (82.5), Employability (83.9), and Return on Investment (94.2).

Employability remains a standout as the programme led the rankings in Asia with an improved employment rate of 95.0% for the class of 2024, compared with 83.3% in the previous year. Class and Faculty Diversity also advanced, with the programme improving 27 places to 56th globally with greater representation of women and international members across both faculty and student cohorts.

Distinguished Professor Andrew Rose, Dean of NUS Business School said: “Our position as Asia’s top MBA for the third consecutive year, alongside our historic rise to 23rd globally, reflects the School’s commitment to academic excellence, innovative research, and developing dynamic, adaptive leaders who can navigate complexity in a rapidly evolving global economy. While rankings are just one measure, they demonstrate the tangible positive impact our faculty, students, and alumni are having on business and community worldwide.”

The NUS MBA is designed to equip future leaders with a global toolkit and cross-cultural insight to thrive in a fast-changing world. Anchored in Singapore, the programme delivers a rigourous yet customisable curriculum. There is a deep focus on Asia, coupled with strong global exposure through international study trips and exchange opportunities with top partner universities worldwide.

Students can tailor their learning journey by choosing from over 50 electives across nine areas of specialisation. Through experiential learning, industry engagement, and a diverse international cohort, NUS MBA students gain the tools and perspectives needed to lead with impact, within Asia and beyond.

Details

View the QS Global MBA rankings can be found at: https://www.topuniversities.com/

SAP Concur Global Business Traveller Survey 2025 reveals new trends in business travel behaviour

Business travellers are redefining how they manage expenses on the road, blending a desire for comfort with practical cost-saving measures. But how do travellers spend their company’s money while travelling? Is there a new cost awareness? New data suggests that business travellers have two travel personas: one for work and another for vacation.

Source: SAP Concur landing page. Key visual for the 7th annual Global Business Travel Survey.

SAP Concur's survey* of 3,750 business travellers in 24 markets, including 750 respondents from Australia, India, Japan, Korea, Malaysia, New Zealand and Singapore, has revealed that nearly half (45%) of business travellers in Asia Pacific region expect travel budgets to stagnate or decrease in 2025. A further 87% report cuts to allowances over the past year.

Research highlights about spending behaviour in 2025 include:

Travellers make the most of their travel allowance

Most business travellers (85%) have recently started taking steps to make ends meet at the end of a business trip – ranging from making sure not to overspend on daily allowances to making the most of freebies. About four in 10 (43%) eat cheaper meals in order to underspend on their per diem, while nearly a third (31%) prepare their own meals rather than dining out.

Some business travellers also benefit by taking leftover food and drinks (25%) and taking home complimentary amenities from hotels and conferences (27%).

There are generational differences: 96% of Gen-Z travellers take steps to make the most of their travel allowance, compared to 88% of Millennials and 75% of Gen X.

Travellers splash the cash on business trips

Different spending patterns apply on a business versus a private trip. Just over one in three employees (36%) opt for higher quality hotels or premium rooms when travelling for work, while nearly two out of five (37%) book direct flights, even if they’re more expensive. They’re also more likely to take private transport options, such as Uber rides (36%) and spend more dining in nicer restaurants (32%).

The generations most likely to adjust their spending behaviour are Gen Z (95%) and Millennials (89%), followed by 69% of Gen X.

Travellers will spend their own money on upgrades

Travel budget cuts are affecting the experienced travellers have on the road. While employees try to make the most of their travel policy, the majority of travellers (87%) are also willing to spend their own money to enhance a trip. Younger employees are more likely to invest in their experience, with 96% of Gen-Z and 91% of Millennial travellers willing to spend their own funds on upgrades, compared to 77% of Gen X.

Travellers will pay their way for perks including higher-quality accommodations (41%), an additional hotel night to avoid a long travel day (38%), and seating upgrades (37%). They are also willing to shell out for more sustainable travel options (29%), more expensive routes that avoid layovers or use their preferred airport (31%), or preferred airlines or hotels (32%).

Integrated travel management solutions offer companies the ability to define travel policies and set booking categories to guide booking behaviour. Friendly nudging with suggestions for cheaper or preferred providers with whom companies have negotiated particularly favourable terms can also help provide employees with the greatest possible convenience without paying exorbitant amounts.

Explore

Get the 7th annual Global Business Travel Survey from SAP Concur at https://www.concur.com.sg/resource-centre/reports/7th-annual-global-business-travel-research-report

*The SAP Concur Global Business Travel Survey was conducted by Wakefield Research between April 30 and May 12, 2025, with 3,750 business travellers in 24 markets: the US, Canada, the UK, Germany, France, Benelux (Belgium, Netherlands, Luxembourg), Sweden, Denmark, Norway, Finland, Italy, Spain, ANZ (Australia, New Zealand), Middle East (UAE & KSA), Japan, Korea, India, Mexico, Brazil, SEA (Singapore & Malaysia), South Africa, Portugal, Switzerland, and Austria. In addition, 700 travel managers were interviewed across seven markets: Germany, Italy, Canada, Japan, ANZ, the UK, and the US. The research also covers the perspective of 600 CFOs across six markets: Germany, Canada, Japan, ANZ, the UK, and the US.

Singapore Polytechnic establishes the Enabling Platform Partnership

Singapore Polytechnic (SP) has introduced an Enabling Platform Partnership designed to empower Singapore-based enterprises as they embark on their transformation journey into the Johor-Singapore Special Economic Zone (JS-SEZ). The initiative, initiated and spearheaded by SP, addresses critical industry needs across business transformation, talent development, and technology adoption. 

The announcement was one of the highlights of the Automation SolutionGO! and the Regional Industry Networking Conference (RINC) 2025, which was jointly organised by SP and AutomationSG at the end of July 2025. Formerly the Singapore Industrial Automation Association, AutomationSG is a professional association for companies and professionals in the automation, Internet of Things (IoT) and robotics sectors. 

The Enabling Platform Partnership brings together institutes of higher learning, trade associations, and agencies from Singapore and Malaysia to close gaps in manpower, talent development, and technology adoption within the JS-SEZ by enhancing industry-ready skills training, upskilling, and reskilling programmes. 

The stakeholders include Singapore Polytechnic, Singapore Polytechnic International, Southern University College, Sunway University, Universiti Teknologi Malaysia, Universiti Tun Hussein Onn Malaysia, AutomationSG, Federation of Malaysian Manufacturing, Singapore Manufacturing Federation, Johor Skills Development Centre, and Johor Talent Development Council. 

The benefits of this cross-border partnership are already evident in ongoing collaborations. A prime example is SP’s recent partnership with the Johor Skills Development Centre, which successfully leveraged a funding scheme from Malaysia's Human Resource Development Corporation (HRDF) to develop and deliver a two-day training programme across four runs. 

This initiative equipped over 140 Malaysian employees of Tai Sin Electric, a Singapore enterprise, with essential knowledge in sustainability 101, aligning their skills with the company's Singapore-based workforce. This success now allows other Singaporean companies in Johor to access similar funding for their subsidiaries' upskilling and reskilling needs.

Soh Wai Wah, Principal and CEO of Singapore Polytechnic, said: “The Enabling Platform Partnership is a strategic catalyst for enterprise transformation, directly supporting Singapore’s goal of helping businesses expand into Johor and Batam. It solidifies Singapore Polytechnic’s position as a leading regional education and training institute with continual relevance to Singapore’s economic development.”

Source: Singapore Polytechnic. Principal & CEO, Singapore Polytechnic, Soh Wai Wah (4th from left) and Guest-of-Honour, Alvin Tan, Singapore Minister of State for the Ministry of Trade & Industry, and Ministry of National Development (6th from left) with industry partners commemorating the Enabling Platform Partnership.

The event also featured the GO! Awards as a key initiative by AutomationSG to recognise outstanding solution providers and end-users who excel in business growth, sustainability, and technology utilisation. There were two GO! Sustainability award winners, Ranpak which makes sustainable, paper-based protective packaging solutions, and LeanCost International, whose SmartCarbon AI-Expert System determines carbon footprints. The GO! Technology Utilisation award was given to Black Sesame Technologies Singapore, which offers the Sesame X full-stack AI computing platform for real-time AI inference in robotics.

Terence Teo, President of AutomationSG said: “Through strategic collaborations, real-world pain point discussions, and groundbreaking initiatives with Singapore Polytechnic and regional partners, we are creating an ecosystem where smart manufacturing, AI, and workforce transformation drive sustainable growth amidst turbulent times.” 

Automation SolutionGO! and RINC 2025 also featured the first Manufacturing Jobs & Skills Fair, co-organised by SP, AutomationSG and e2i, to help job seekers and mid-career switchers. 

International SOS calls for innovation in crisis management

International SOS, the global security and health risk management company, has unveiled a global guide to help organisations navigate the complexities of modern crises.

The paper, Building a Responsive and Effective Crisis Management Programme and an accompanying webcast emphasise the importance of moving beyond traditional crisis response to adopt innovative strategies.

Giles Hill, Global Head of Security Services at International SOS said: "Crises, though inherently disruptive, serve as powerful crucibles for greater resilience and innovation. They expose latent vulnerabilities, sharpen decision-making and compel organisations to think about agility – an essential capability in a volatile world. They are a brutally honest appraisal of an organisation’s strategy and culture.

"Leaders and organisations that embrace crisis as a catalyst – not just as a threat – emerge stronger, with more agile systems, clearer priorities and greater competitive advantage, ensuring their organisations not only survive but thrive in the face of adversity."

Using real-world scenarios and events, the paper demonstrates how, through informed, pragmatic, and adaptable crisis management, organisations can sustain operations and flourish, and how visionary leaders can transform their organisations into resilient entities capable of facing even the most unforeseen challenges. Based on International SOS’ 40 years of experience supporting clients and their employees through crises, the paper provides practical insights into all key aspects of best practice in dealing with today’s crises – from pre-crisis planning and post-crisis demobilisation to the critical roles of perception, strategic communication, and innovation.

Gautier Porot, Group Crisis Management Practice Leader at International SOS, emphasised the importance of the adoption of best practices across the workforce: “We have seen from recent escalations particularly how imperative it is to have robust crisis management and to encompass all eventualities.

"This paper is not just a source of information but a real call to action for all organisations, their leaders and each employee. Only by collaborating and preparing actively can crises be turned into opportunities and ensure sustainability and success.”

Highlights include:

- Pre-crisis planning: Identifying systemic risks, organising resources, and training teams to minimise potential impacts. This includes creating ad hoc teams with specific and complementary skills and developing key documents such as crisis management policies, plans, communication strategies, and guides.

Stacey Conlin, Head of Risk, Cricket Australia said: “When you look at traditional crisis and incident management, it’s often linked to very high risk-based thresholds or impacts. Once an impact hits this level, organisations then convene the crisis management team. With the growing frequency of incidents and crises, early intervention is paramount, and I’ve established and recommended that organisations set up an Early Intervention Impact Assessment team. This means that prior to an incident hitting high impact levels, we gather, assess the facts, risks, impacts, and most of the time, we are able to de-escalate the situation."

- Crisis response: Mobilising teams, controlling the situation, and resolving issues through rapid decision-making and clear communication. The paper outlines the importance of modular and agile response teams tailored to each crisis's specificities.

- Post-crisis demobilisation: Supporting teams, analysing the new ecosystem, and adapting strategies to better cope with future crises. This involves a structured approach to problem-solving, including identifying the desired end state, breaking it down into workstreams, prioritising them, and developing strategic intent and action plans.

Details

The whitepaper can be downloaded at https://www.internationalsos.com/publications/global-crisis-management-paper

Watch the webinar at https://www.internationalsos.com/events/crisis-management-webcast

Singapore SMBs stay focused on growth despite rising costs and uncertainty: Xero

 

Despite a challenging operating environment, Singapore’s small and medium businesses (SMBs) remain resilient and focused on growth through digitalisation, according to a new report by global small business platform Xero.

Polling over 500 owners and senior decision-makers from SMBs in Singapore, the report found that six in 10 (61%) have been impacted by inflation and rising costs, alongside changes in consumer demand (48%) and labour shortages (44%).

Despite this, Singapore’s SMBs continued to grow, with nearly two-thirds (63%) reporting revenue growth and 77% reporting wage increases over the past year. Nearly half (47%) increased headcount within the business, primarily to support business growth (69%). Crucially, 76% of business owners said they feel optimistic about the future.

"It’s exciting to see such strong optimism and momentum among Singapore’s SMBs, especially in a tough economic climate. Their continued investment in people and technology shows just how focused they are on building for the future,” said Koren Wines, MD, Xero Asia.

“That said, as businesses continue to scale and grow, it’s important to recognise that many still face operational barriers that can slow progress—whether it’s managing cash flow, accessing real-time financial insights, or juggling fragmented systems. Addressing these pain points and building stronger digital foundations will be key to unlocking greater efficiency, agility, and long-term success."

The report also identified common operational challenges they will need to overcome, such as strained cash flow from delayed payments.

91% of Singaporean SMBs said late payments from customers have impacted their business. When polled on typical payment timelines, nearly a fifth (18%) of businesses said they received payments from customers in an average of 31-45 days, with timelines stretching to 46-60 days for 7% of businesses surveyed. 

To increase the likelihood of timely payments, many SMBs have started strengthening credit terms (53%), charging late fees (47%), and even offering discounts to incentivise early payments (43%) in a bid to keep cash moving.

According to the research, many SMBs still struggle with establishing long-term, real-time visibility on their business’ finances. Eight in 10 (81%) Singaporean SMBs recognise the importance of customisable financial reports that contain insights that may be useful for regulatory compliance and strategic decision-making. However, around half cite a lack of real-time access to financial data (52%) and difficulty consolidating information from multiple sources (49%) as key barriers to developing them.

Source: Xero, The State of Small and Medium Businesses - Singapore 2025. Average customer repayment timeframe.

To overcome these operational challenges and support growth, Singaporean SMBs are actively using digital tools such as digital marketing platforms (56%), customer relationship management systems (54%) and cloud-based accounting or finance software (42%).

Almost all (99%) believe digital tools are essential to their business, while 82% cited digital adoption as a top or significant business priority. A further 99% said they were comfortable experimenting with or implementing new technologies, with the ability to generate better reports (51%), enhanced decision-making (46%), and automation of repetitive tasks (46%) topping the list of motivations driving adoption.

Said Wines: “Singaporean SMBs have shown a strong appetite for digitalisation—not just as a means to keep up, but as a deliberate strategy to drive growth and resilience. They increasingly understand that digital tools are not simply operational add-ons, but enablers that can transform the way they manage cash flow, streamline processes, unlock opportunities and respond to evolving market demands.”

“By adopting the right technologies, small businesses can gain deeper financial visibility, make faster, data-driven decisions, and build the agility needed to thrive amid uncertainty. This shift isn’t just about staying compliant—it’s about becoming future-ready.”

Explore

Download The State of Small and Medium Businesses - Singapore 2025 at https://brandfolder.xero.com/NE531UQB/as/3fxggcx7bk96gxs5tpxwfrh/Final_State_of_Small_and_Medium_Businesses_-_Singapore_2025

Cornerstone unveils cyber insurance for Singapore SMBs with QBE and ESET

Cornerstone, a Singapore-based independent financial advisory, has launched CyberFender, a cyber insurance solution tailored to small-to-medium businesses (SMBs) in Singapore. 

CyberFender offers insurance coverage that will help to safeguard critical business assets against malicious actors in areas like data security, business interruption, and cyber extortion. It also covers related incident response and recovery costs, providing both financial and operational protection against cyber incidents—empowering businesses to better build and maintain customer trust, Cornerstone said. 

Underwritten by QBE, a global insurer with a presence in Singapore for more than 130 years, CyberFender policyholders will also receive 24x7 cybersecurity protection through ESET Small Business Security, which is a set-and-protect solution against online threats, frauds, data theft and unwanted tracking. 

Cornerstone can guide and support SMEs throughout the process, serving as trusted advisors who simplify, facilitate, and ensure a seamless download and understanding of key information. 

SMBs make up 99% of all enterprises in Singapore and are responsible for nearly half of the nation’s GDP. As they embrace digital transformation, robust cybersecurity measures are essential to maintain customer trust and ensure a resilient business environment. Cyber insurance has emerged as a vital safety net, helping SMBs to mitigate the financial risks of cyber incidents while reinforcing confidence in data security.

ESET’s APAC SMB Cybersecurity Report 2024 found that 73% of Asia Pacific (APAC) SMBs experienced cybersecurity incidents last year—with one out of four incidents related to ransomware, while Cyber Security Agency of Singapore (CSA) findings from 2024 estimated that eight in 10 organisations in Singapore encountered a cybersecurity incident in a year, with half encountering it several times a year. 

QBE Singapore’s small- and medium-sized enterprise (SME) survey further showed that the percentage of businesses that do not have any processes or protection against cyber risks rose to 19% in 2024, from 9% in 2023.

“At Cornerstone, we recognise that recovery from cyberattacks can be costly and challenging for SMBs. This is why we partnered with QBE and ESET to deliver robust, easy-to-use cyberdefence solutions to our policyholders through CyberFender,” said Leonard Tan, MD, Cornerstone.

“No industry is insulated from cyberthreats, regardless of company size. As technology evolves, it’s creating both new opportunities and new risks, further expanding the digital attack surface. Together with Cornerstone and ESET, we are delighted to be a part of the CyberFender offering, which is well suited to address SMBs’ needs when it comes to the current cyber risk landscape,” said Ronak Shah, CEO, QBE Singapore.

“ESET is committed to empowering SMBs with the right tools to proactively protect their businesses from cyber threats, including ransomware. By adopting a prevention-first approach, business owners can effectively safeguard their organisations from the risk of cyberattacks and disruption. We are honoured that Cornerstone and QBE have chosen to work with ESET; it is a testament to our commitment to ensure businesses of all sizes are safeguarded in an ever-evolving threat landscape,” said Parvinder Walia, ESET President for Asia Pacific and Japan.

CyberFender is available in Singapore through Cornerstone's financial advisors.

Business leaders’ tech and investment priorities unveiled for 2025

Capgemini Research Institute has published its latest global reports, Navigating uncertainty with confidence – Investment priorities for 2025* and Top Tech Trends of 2025: AI-powered Everything, unveiling business priorities for investments and technology in the year ahead.

Capgemini’s investments trends report found that businesses remain positive about their organisation’s outlook despite ongoing uncertainty in the market environment, with 62% feeling optimistic about their organisation’s prospects for 2025. In spite of a cost containment imperative, this optimism is driving increased investment, notably in customer experience, supply chains, and sustainability. These initiatives  are crucial to enabling more innovation, efficiency, competitiveness and resilience-building.

The report found business leaders are feeling more confident about the year ahead than they were 12 months ago – 62% are optimistic about their organisation’s prospects for 2025, up 6 percentage points on the same time last year and 20 since 2023. However, executives have more confidence in their own organisations than the global market at large, with 37% optimistic about the prospects for the global operating environment in the next 12-18 months, only slightly up on last year.

In the current market uncertainty, 56% expect to prioritise cost reductions over revenue growth for 2025. But executives know that this change requires investment – half say that their organisation plans to increase overall investment in 2025, with just under a quarter anticipating lower levels of investment compared to 2024, and the rest expecting no change.

“As we look to 2025, business leaders are navigating uncertainty with an attitude of confidence and resilience – two qualities that our research shows they are looking to instill in their organisations through technology investment,” said Aiman Ezzat, CEO, Capgemini. 

“Technology has a key role to play to improve competitiveness and productivity, while reducing costs and making all-important efficiency gains. With a focus on innovation, supply chains and sustainability – which is increasingly being harnessed for its value-driving potential – leaders will set themselves up to succeed in an uncertain environment and build resilient, adaptable organisations. Crucially, this will help shape a more innovative, sustainable and inclusive global economy.”

Much of business leaders’ confidence continues to focus on customer experience, followed by engineering, research and development (R&D), and innovation - with nearly eight in 10 and nearly three quarters of executives now planning to increase investment in these areas, respectively. 

However, the sharpest acceleration in investment is focused on supply chain transformation. This is where 63% say they will increase their spend in 2025 – up from less than half in 2024 – and by 9.4% on average. New-generation supply chains will integrate AI and the Internet of Things (IoT) to enhance efficiency, reduce waste, and support a business’s sustainability goals, as well as improve decision-making and reduce costs overall.

Globally, seven in 10 executives are concerned about the impact of rising tariffs and bilateral trade disputes on their organisation’s competitiveness. Almost two thirds are also concerned about the impact of a potential global trade war on their organisation’s operations and market access. On this front, executives in Japan and China are the most concerned about rising tariffs and bilateral trade disputes, and the least about a potential global trade war. 

To mitigate these risks and build resilience, most organisations globally are diversifying their sourcing and/or friendshoring. Almost three in four executives are already de-risking their supply chains by investing in other emerging countries to reduce reliance on China, up from less than half last year. In parallel, almost two thirds of them now confirm that friendshoring will represent a significant part their organisation’s sourcing and production strategies in 2025 (up from 45% last year).

Sustainability investment is increasingly seen as a business value driver as well as an asset for compliance and efficiency, but a trend that is impacted by geopolitics. Capgemini's A world in balance 2024 report found that under a quarter (23%) of executives surveyed said that the cost of sustainability investments outweigh the benefits, and over two thirds agreed that anticipating or pre-empting stricter future regulations is a key driver of sustainability initiatives, up from 57% in 2023. Further, 64% of executives surveyed in June-July 2024 agreed that the geopolitics of the time were an increasing consideration in sustainability investments.

In the current investment report, 62% of executives (up 10 percentage points from 2024) are planning to increase their sustainability budgets, by 10.5% on average. The priority areas are climate tech (72% of executives planning to spend more), including hydrogen, renewables, batteries, nuclear, and carbon capture. 

Batteries are seen as the top climate tech investment in 2025, with over half of business leaders ranking them in their top three, in particular manufacturers and automotive companies – followed by solar energy. Besides climate tech, the other top areas of increased investment in sustainability are sustainable R&D and product development, biodiversity protection and restoration, and water conservation/management.

Fifty-seven percent of business leaders in Singapore are optimistic about the outlook of their organisation, and 58% plan to increase their organisation's investments in 2025. AI is the top technology investment area in 2025 for 67% of businesses in Singapore. According to the Capgemini tech trends report:

- Three quarters of Singapore organisations are expected to begin proofs of concept (PoCs) or completely adopt AI agents.

 - Over 60% of organisations in Singapore will deploy PoCs for AI/gen AI in cybersecurity in 2025.

- Almost one-quarter of organisations in Singapore will deploy partial scale AI-powered robots in 2025.

- Seven in 10 business leaders among large organisations in Singapore are planning to increase investments in sustainability. Six in 10 have plans to increase investments in climate tech.

- Fifty-seven percent of business leaders among large organisations in Singapore have plans to increase investments in the supply chain.

- More than half of the organisations (58%) are exploring new-generation supply chains in Singapore that are agile, greener and AI-assisted.

Globally, Singapore has the highest percentage of business leaders in large organisations who have plans to increase investments in customer experience (85%), and manufacturing/operations (72%).  

When it comes to global tech trends, Capgemini’s findings highlight the critical need for businesses to leverage technology, specifically AI, as it empowers them to elevate efficiency and innovation, and adapt to unpredictable market conditions. The top tech trends for 2025 include:

Generative AI: from copilots to reasoning AI agents

Autonomous intelligent systems, capable of learning and adapting to new situations, are becoming more prevalent and valuable across various industries. Seven in 10 executives and 85% of investors (venture capital, private equity, and commercial banks) picked AI agents as a top-three technology by impact for 2025.

AI and generative (gen) AI in cybersecurity: new defences, new threats

AI is transforming cybersecurity as well as cyberthreats. Industry executives in the Capgemini survey ranked AI and gen AI in cybersecurity as the topmost trend out of more than 60 trends for 2025.

AI-driven robotics: blurring the line between human and machine

Industries are using collaborative robots – or cobots – and AI-driven robotics to enhance productivity and safety. As robots become more autonomous and AI takes on complex decision-making roles, the traditional structure of authority in the workplace may shift, Capgemini said.

AI: driving nuclear resurgence

With the growing need for clean, reliable power to meet the energy demands of AI and other high-energy technologies, nuclear energy is poised to play a crucial role in 2025 and beyond. Capgemini believes that 2025 will be an important year for the advancement of small modular reactors (SMRs).

New-generation supply chains

Faced with increasingly complex – and often unpredictable – market conditions, organisations are focusing on improving the efficiency, resilience, agility, circularity, and sustainability of their supply chains. Technologies like AI, data, Blockchain, the Internet of Things (IoT), and terrestrial-satellite network connectivity will all play a role in achieving improvements in global logistics.

*The Capgemini Research Institute surveyed 2,500 business leaders from 2,500 organisations across 17 countries in North America, Europe, and Asia-Pacific and included nine industries and sectors: automotive; consumer products; banking and capital markets; insurance; retail; life sciences; telecoms, media and high-tech; manufacturing; and energy and utilities. The survey took place from October 23 to November 20, 2024 - half of the sample as collected prior to the US elections, and half was collected after. Across the total sample, 70% of respondents are from organizations with more than US$1 B in annual revenue and 30% are mid-sized organisations with US$100 million to US$1 B in annual revenue.

DBS launches first multicurrency commercial debit card with Visa

DBS, in partnership with Visa, has launched the bank’s first multicurrency commercial debit card. The DBS Business Advance+ Card (BAC+) is tailored to meet the needs of companies at every stage of growth operating in an increasingly globalised digital marketplace. 

This solution is designed to help businesses better navigate market volatility through foreign exchange rate hedging. It also provides savings on overseas transactions and better cashflow management. Additionally, BAC+ is the first commercial debit card in Southeast Asia that enables companies to manage multiple accounts and transactions on a single platform via DBS IDEAL, a digital business banking portal. 

There has been a 30%* year-on-year growth in cross-border e-commerce transactions on commercial cards in Singapore. In view of this, BAC+ was designed to provide three benefits:

- Businesses can leverage DBS’ online foreign exchange capabilities to lock in rates for up to one year in advance. This feature enables them to hedge against erratic foreign exchange fluctuations by making payments in various currencies at favourable rates, providing certainty and greater peace of mind. 

- BAC+ helps businesses save costs with: 

• Zero foreign exchange conversion fees across more than 200 countries and territories. 

• Up to 2%** cashback when they charge at least S$2,000 on select business-to-business transactions. For example, a company that charges the equivalent of S$10,000 a month on overseas business transactions including digital services or subscriptions can save up to S$550 monthly. 

Third, it is the first commercial debit card in Southeast Asia that enables companies to manage multiple accounts and transactions via a one-stop portal, DBS IDEAL. With DBS IDEAL, finance teams can simultaneously track and manage multiple debit card accounts, including checking account balances and managing transactions in real-time. This provides companies enhanced visibility and control over their card expenses.

The bank also launched the DBS StartUp Movement in partnership with ACE.SG and Visa, aimed at fostering a community of support for early-stage enterprises. This initiative offers businesses resources and strategies for optimising cash flow and navigating financial challenges in an increasing volatile market. Additionally, businesses will gain valuable insights into financial planning, budgeting and the path to profitability. 

Koh Kar Siong, Group Head of Corporate and SME Banking, DBS, said: “Cross-border payments have become indispensable for businesses. However, market uncertainty and volatility presents significant forex risk to companies transacting in multiple currencies. The DBS Business Advance+ Card is designed to help businesses navigate these challenges by leveraging the bank’s deep capabilities in digital payments and foreign exchange, as well as our extensive experience in doing business across Asia. It supports businesses at every stage of their growth by enabling them to better manage their cost, giving them greater peace of mind and empowering them to compete more effectively in an increasingly globalised digital marketplace.” 

Adeline Kim, Visa Country Manager for Singapore & Brunei, said: “At Visa, we are committed to supporting small businesses and their digitisation efforts. Based on our data, we’re seeing that slightly over half of all commercial card spend on debit cards are cross- border and there is a clear need to support businesses in managing their foreign currency volatility. We believe that by providing them with the right tools and resources, we can help them thrive in an increasingly digital marketplace. Our partnership with DBS to launch the DBS Business Advance+ Card is a testament to this commitment. With this card, we can continue to support small businesses and empower them to make secure and seamless payments locally and globally.” 

Saurav Bhattacharyya, Chairman, ACE.SG, said: “Partnering DBS as they launch their DBS StartUp Movement and curated digital financing solutions aimed at globally aligned businesses is timely. Access to these financial tools from DBS and Visa, and having the ecosystem come closer together will be integral in helping and supporting many founders, entrepreneurs and businesses scale sustainably in this volatile climate.” 

BAC+ and the DBS StartUp Movement are the latest initiatives in DBS’ efforts to help businesses diversify and transform their operations, including capturing cross-border opportunities. In June, the bank launched the Bridging Business Horizons Programme, with support from the Singapore Business Federation and Enterprise Singapore, to help companies expand into new markets across Asia. 

*Visa’s commercial card spend as of June 2024. 

**From 16 August to 31 October 2024, users earn an additional 1% bonus cash rebate on top of 1% base rebate on selected business-to-business expenses with a minimum spend of S$2,000 per month.

Enhanced risk management needed for business travel: International SOS

International SOS, the health and security risk services company, has highlighted the need for enhanced risk management for travellers and organisations.

The organisation's data has uncovered a 59% increase in international travel and a 48.4% increase in domestic travel in October 2023 as against the beginning of the year. These findings align with a recent report from The International Air Transport Association (IATA) that charts the resurgence of global travel. 

According to IATA, global air traffic reached 97.3% of pre-COVID levels at the end of 2023. This trend is anticipated to continue into 2024 despite economic and political uncertainties in parts of the world.

Michael Rogers, Chief Security Analyst at International SOS said: “The resurgence in global travel comes at a time in which the travel security landscape is increasingly complicated by geopolitical events, natural disasters and other developments. More and more, organisations are finding comprehensive risk mitigation strategies for their mobile workforce to be of upmost importance.

“Today, more than ever, travellers need to remain informed of prevailing risks and attendant mitigation measures. Beyond geopolitical issues and natural disasters, emerging diseases, social unrest and evolving crime dynamics require that travellers practice vigilance. 

"Across a series of concurrent and overlapping crises, International SOS observed a 16% increase in the volume of security and medical alerts issued to clients throughout January to November this year compared to the same period in 2022. The considerable increase illustrates both the evolving global security environment as well as value of timely and verified information and analysis as a key resource to ensure workforce safety.”

The impact of climate change, including extreme weather events, natural disasters and environmental changes also poses an additional layer of risk to global travel. Natural disaster-related reporting accounted for 20% of International SOS’ medical and security alert volume in July and August this year. This is a 5% increase compared to the same period last year. These months fall within the peak of hurricane and tropical cyclone season.

Rogers advised: “With climate change exacerbating existing travel risks, it is important for organisations to have robust and integrated health and security travel policies that safeguard employees from potential impacts of climate change during travels. 

"Additionally, encompassing the ISO 31030 standard in organisations’ policies provides a framework to ensure preparedness for a changing travel security landscape and to be better placed to mitigate increasingly complex travel risks.”

FEH announces alliance with SIA's HighFlyer business travel programme

Source: FEH. The Clan Hotel Singapore lobby.

Far East Hospitality (FEH) is the first hospitality group to be a part of Singapore Airlines’ (SIA's) HighFlyer business travel programme. HighFlyer is a travel reward programme where companies enjoy preferential airfares and earn HighFlyer points when their employees travel for work. These points can be used on future travel or redeem for rewards for their business or corporate travellers.

HighFlyer members can now earn up to 500 points when their employees fulfil qualifying stays at selected Far East Hospitality hotels in Singapore, Japan and Malaysia. Participating hotels include The Clan Hotel Singapore, Far East Village Hotel Tokyo, Asakusa and Oasia Suites Kuala Lumpur. Employees who are KrisFlyer members will also be entitled to accumulate miles for the same stays.

In addition, FEH’s 19 hotels in Singapore, Japan and Malaysia also offer SIA’s KrisFlyer members a chance to earn up to 500 KrisFlyer miles after each qualifying stay at the hotel.

TFE Hotels - FEH’s joint venture partner in Australia - has simultaneously become the first Australian hospitality group to partner with SIA’s rewards programme, KrisFlyer. The partnership will see KrisFlyer members earn 500 KrisFlyer miles per qualifying stay at more than 60 hotels across TFE’s global network.

Business travellers need to be aware of malaria risk: International SOS

Source: International SOS. Fogging of an area likely to harbour malaria-infected mosquitoes.

To mark World Malaria Day 2023 (April 25), International SOS has encouraged organisations to support the global effort to invest, innovate and implement to deliver zero malaria.

Malaria continues to occur in more than 80 countries*, causing over 240 million infections each year, and numbers are growing, says International SOS. The World Health Organization estimates there were 2 million more cases of malaria globally in 2021 compared to 2020, while International SOS’ data shows the trend continued in 2022, with the number of requests for assistance related to malaria 10% higher than in 2021.

With the ongoing recovery of international business travel, there is a greater need to ensure protection against malaria for people who may have been exposed, International SOS points out. Business travellers should be aware of malaria as a potential diagnosis - the early symptoms include fever, a headache, and chills.

Global travel also has the potential to reintroduce or increase transmission of malaria in tropical and temperate countries that have currently eliminated or controlled transmission.

Dr Irene Lai, Medical Director at International SOS, commented: “Every organisation should review the malaria risk to their workforce and implement measures to protect them. For those that send employees to malarial areas, this includes education and awareness, pre-travel medical review and preventive supplies, and access to rapid diagnosis and treatment. For those operating in locations where malaria circulates, this should include surrounding communities through an integrated malaria control programme.”

Dr Dave Knight, a medical doctor and Malaria Specialist at International SOS, added: “Malaria cases and deaths have actually risen during the pandemic, and globally we seem to have lost some traction in controlling malaria. For the private sector, malaria remains a key health risk when operating in the tropics, especially in Africa and parts of Asia and South America. It is predicted with climate change that this risk could grow.

"Furthermore, there are no ground-shifting technology solutions imminent over the next few years that will allow significant mitigation of this risk in a company workforce. We still rely on the age-old interventions. On a positive note, the new RTS,S vaccine is being rolled out in high transmission areas in Africa in infants and young children. It is not suitable for adults yet provides moderate but important protection to very young children over the first few years of life. The private sector should support this initiative in communities within which they operate where appropriate.”

International SOS advises that business travellers to do a pre-travel risk assessment of their destination, and understand the symptoms and signs of malaria as well. If travelling to a malaria-prone area, they should mitigate the risk with suitable accommodation, and know when and how to take their emergency standby medication:

1. Review the malaria-risk to their workforce and if operating in malaria-prone areas, implement an integrated malaria control programme

2. Educate employees on the risk of malaria and the importance of personal protection measures against mosquito bites using the ABCDE approach.

- Awareness: be Aware of the risk and the symptoms.

- Bite prevention: avoid being bitten by mosquitoes.

- Chemoprophylaxis: if prescribed for, use chemoprophylaxis (antimalarial medication) to prevent infection.

- Diagnosis: immediately seek diagnosis and treatment if a fever develops one week or more after being in a malarial area

- Emergency: carry an emergency standby treatment (EST) kit if available and recommended

3. Provide preventive supplies such as insect repellent and anti-malarial drugs

4. Offer employees travelling to malarial areas access to pre-travel medical reviews and destination travel risk-assessments

5. Ensure travelling employees choose accommodations with a bed net, air-conditioning and screening on doors and windows

International SOS also provides consulting services for every part of a company’s malaria risk mitigation programme, including experienced entomology consulting, assessment and design vector control programmes, e-learning to educate employees, medical consulting to ensure proper diagnostic and treatment pathways and data management, as well as ensuring a programme is well managed.

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Watch the associated short video at https://vimeo.com/798944207.

*2020 OECD figures state that malaria-endemic countries in Asia Pacific include Papua New Guinea, Solomon Islands, Pakistan, India, Nepal, the Philippines, Indonesia, Myanmar, the Lao PDR, Cambodia, Thailand, DPR Korea, China, Vietnam, Bangladesh, the Republic of Korea and Malaysia.

Vistajet introduces Dynamic Corporate Membership

VistaJet, the global business aviation company, has launched its new Dynamic Corporate Membership for corporations, offering a full suite of flexible travel solutions for businesses and executives around the world.

Source: VistaJet. A VistaJet plane is ready for boarding.

The company said the COVID-19 pandemic is redefining the global aviation landscape. Corporations are rapidly changing their needs, requiring 24x7 accessibility and maximum flexibility in their travel requirements, as well as enhanced safety protocols:

- Corporates are increasingly flying entire teams to multiple locations around the world to ensure business continuity

- There has been a 49% surge in corporate interest globally since the start of the pandemic

- Over the same period, VistaJet recorded a rapid growth in demand for long-haul routes: the percentage of flights over 5 hours increased 44% year-on-year during the last 6 months and 11% of VistaJet flights have been over 8 hours long

The new Dynamic Corporate Membership offers:

- Speed and flexibility in business travel solutions

Membership sign-up is completed in one day, with options to pay after the service has been provided; unlimited flying hours; and guaranteed availability of additional aircraft. Members may request two aircraft at the same time and double-fly or have an aircraft on standby.

- Streamlined travel logistics

A dedicated VistaJet flight manager is based in the member’s own headquarters.

- Reduced COVID-19 exposure

A Cabin Hostess is dedicated to only fly the member’s trips.

- Access to 187 countries on VistaJet’s fleet of over 70 aircraft.

Regional flying in the Middle East and Asia, including domestic flights within India are supported.

- An integrated carbon reduction and carbon offset option

Fully-audited and environmentally-sustainable flying is supported.

Ian Moore, Chief Commercial Officer, VistaJet said, “The impact that COVID-19 is having on the availability of commercial flights is clear to see and business aviation is taking up the urgent demand to connect globally. With the Dynamic Corporate Membership, we want to offer companies maximum flexibility with minimum commitment, as we recognise the need for safer and more reliable solutions as companies look to build back their business for the future.”

VistaJet is a global business aviation company. It has flown corporations, governments and private clients to 187 countries, covering 96% of the world. The company pioneered a business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership.

APAC SMEs have embraced remote work: SAP

SAP has unveiled findings for Digital Resilient, and Experience-driven: How Small and Midsize Organisations Can Prepare for the New Economy, a study* that highlights how small and mid-sized enterprises (SMEs) in Asia-Pacific (APAC) are uniquely positioned to adapt and thrive in the dynamic and distributed post-COVID-19 business environment.

Conducted in collaboration with Oxford Economics, the study also delved into the priorities, challenges, and digital maturity of SMEs in the Americas, Europe, and APAC. A section detailing answers from 240 respondents on the impact of the COVID-19 pandemic was also added to the survey mid-fieldwork.

According to the 240 that responded to the series of COVID-19 questions, APAC SMEs are well-positioned to adapt to a remote working environment by taking swift actions to implement and adjust remote work arrangements for employees in response to the onset of the COVID-19 pandemic. Seventy-seven percent reported that they adjusted remote work arrangements for employees in response to COVID-19, as compared to lower numbers from Europe (75% of respondents) and the Americas (71%).

Additionally, 61% of APAC SMEs surveyed created remote work setups for employees during this period, while 69% invested in IT and collaboration solutions to support remote access and/or online learning. Interestingly, 10% of APAC SMEs reported that the pandemic has no impact on their ability to accommodate remote work and maintain employee productivity.

On top of supporting business continuity during this period, many APAC SMEs are also actively exploring new channels to get their products and services to customers (66%, vs. 64% in the Americas and 59% in Europe) and developing new products and service offerings (46%, vs. 40% in the Americas and 49% in Europe).

Singapore respondents said that their top reactions to COVID-19 were:

- Adjusted remote work arrangements for employees (73%) and invested in IT and collaboration solutions for remote access or/and online learning (73%)

- Explored new channels to get product/service offerings to customers (68%) and explored new ways to meet supply chain demands (68%)

The most impacted areas of business operations and strategies for Singapore organisations, defined as 'significant impact' or 'completely restructure operations/strategies', included:

- Ability to meet customer demands (55%) and ability to win new business (55%)

- Ability to operate at full capacity (45%)

Conversely, the business operations and strategies which saw 'minimal effect' or 'moderate effect' in Singapore included:

- Ability to accommodate remote work and maintain employee productivity (55%). COVID-19 did not affect the remote working abilities of 14% of SMEs in Singapore.

- Ability to manage cash flow and liquidity (45%)

Before COVID-19, Singapore SMEs had said their top strategic priority over the next three years was: 

- Growth (43%)

- Customer experience (38%), an ideal experience being defined as high-quality products and/or services (77%) and competitive pricing (74%)

Their challenges pre-COVID include:

- Lack of coordination between different departments (32%)

- Upskilling/reskilling their current workforce (31%)

- Competition from larger organisations (46%)

- Keeping up with changing customer wants and needs (42%)

A further 46% in Singapore said data storage, collection and analysis would be a problem as they grow.

“SMEs across the region—like their counterparts around the world—have certain advantages over larger competitors in terms of agility and closeness to the customer,” said Edward Cone, Editorial Director of Thought Leadership and Technology Practice Lead at Oxford Economics.

“Yet even before the pandemic, SMEs in APAC also faced meaningful challenges in keeping up the pace of digital transformation.”

Lastly, it was revealed that COVID-19 has significantly impacted APAC SMEs’ ability to compete with larger companies within the same industry, with 45% of APAC SMEs reporting that the pandemic has had a significant effect on their operations and strategies in this area. COVID-19 has also affected the ability to operate at full capacity (45%), the ability of the supply chains to keep up with demands (40%), and the ability to keep existing customers (40%). Some respondents reported that they had to completely restructure business strategy and operations in these areas to mitigate the impact of the pandemic.

Prior to the COVID-19 outbreak, SMEs in the region reported being optimistic about their long-term prospects. Many APAC SMEs expect that over the next three years, their market share (62%), budget/revenue (76%), number of full-time employees (59%), and profitability (78%) will increase 'somewhat' or 'substantially'.

Looking ahead to the next three years, APAC SMEs are prioritising improving the customer experience (40%), growth (38%) and attracting new customers (28%). APAC SMEs believe that the key to providing high-quality customer experience lies in high-quality products and/or services (70%), fast and convenient delivery (64%) and competitive pricing (62%), with the customer-service business function bearing the most responsibility for delivering those experiences (cited by 70% of APAC respondents).

Upgrading analytics on customer data is viewed as a go-to strategy to improving customer experience: 28% already have done this across the organisation, and 52% have started to.

With technology set to play an increasingly critical role in helping APAC SMEs achieve business success in the new digital environment, the study also took a closer look at digital maturity levels of these businesses across the region.

APAC SMEs say they have made moderate progress toward digital transformation (39%), and 21% have made substantial progress or completely transformed; within three years, 19% expect to have completely transformed. Their biggest IT functions challenges as the organisation grows are 24x7 service availability (55%) and cybersecurity (51%).

In terms of technological adoption, HR/talent management software is furthest along (66%), followed by governance and cybersecurity software (63%), then finance and risk management software (59%). Respondents reported that these technologies are either in use in some applications/projects or are already in use at scale.

Mobile devices and mobile business process enablement, and business management solutions (enterprise resource planning or ERP software) share the top spot in terms of pilot implementation, and APAC SMEs are actively considering emerging technologies, artificial intelligence/machine learning (AI/ML) and the Internet of Things (IoT) as their main investment priorities. 
 
When it comes to automation investment, the majority of SMEs are already using automation in some applications/projects (36%). The top business functions that see major or substantial investment in terms of automation and digital processes in APAC are:

- Customer service (56%)

- Enterprise management/operations (48%)

APAC SMEs further consider the top benefits of automation and digital technologies to be:

- Increasing process efficiency by reducing error, risk and cost (44%)

- Increasing productivity through transformation and intelligence process automation (43%)

The road to success does, however, bring challenges, SAP said. Today, APAC SMEs consider the upskilling/reskilling of the current workforce (30%), lack of coordination between different departments (29%), and inability to gain insights from data (28%) as key internal challenges.

In terms of external challenges, APAC SMEs cite changing customer wants and needs (40%), competition from larger organisations (39%), and adapting to a rapidly-changing marketplace (27%) as obstacles to their business success.

Source: SAP. Andresen.

“Today’s new normal requires businesses to pivot and adapt with speed. SMEs in the region seem to understand that the sense of urgency to digitally transform their businesses will give them an advantage through the pandemic and beyond,” said Claus Andresen, SVP & Head of General Business (SME) and Emerging Markets Growth, Asia Pacific & Japan.

“With the adoption of an intelligent enterprise strategy, SMEs can establish a digital core that will power the entire organisation, embedding data-driven insights and decision-making processes across the business. This is crucial in enabling business agility, further strengthening the ability of SMEs to adapt to dynamic market conditions.”

“I am confident SMEs in the region will be able to emerge stronger, having forged closer bonds with customers and employees while developing innovative services and products that will put them on a strong growth trajectory as the world economy recovers,” he concluded.

Three tips from SAP to help SMEs thrive in the new normal are:
Organise for agility

Coordination across the business—facilitated by rapid communication and information-sharing—can help SMEs respond to challenges quickly and effectively.

Put people at the centre

Business processes, organisational structures, and digital investments should all support customer and employee engagement, whether through real-time insight into wants and needs, or innovations that improve convenience and quality.

Become data-driven

Analytics for decision-making can transform every aspect of operations, from insights that affect supply-chain sourcing to alerts that support predictive maintenance after sales.

SAP aims to help every business run as an intelligent enterprise with its enterprise application software leveraging machine learning, Internet of Things (IoT), and advanced analytics technologies. Seventy-seven percent of the world’s transaction revenue touches an SAP system.

*Oxford Economics and SAP surveyed 2,000 senior executives from small and midsize organisations across 19 countries and industries. Each respondent organisation in our survey reported annual revenues or budgets ranging from under US$10 million to US$1 billion, as well as employee headcounts below 1,000. In India, some respondents employ more than 2,000 employees. 

Of the 2,000 respondents, 832 respondents were from APAC, in the following markets: Australia, China, India, Japan, New Zealand, Philippines, Singapore, and South Korea. 

The survey was administered via a mix of computer-assisted telephone interviewing and online links between February 27 and April 30, 2020.

APAC SMBs optimistic about recovery after COVID

- HP study says Asia-Pacific (APAC) small and medium-sized business (SMB) owners remain optimistic

- Bouncing back will require innovation in work processes, flexible work options and customised products and services

- Indonesia, India, Vietnam, Australia, and Thailand SMBs are the most confident of their ability to be innovative

HP Inc.’s latest study* on SMBs in Asia-Pacific, Survival to Revival, revealed that over 50% of SMB owners expect not just to survive but thrive following the pandemic, and feel that digital transformation will be a key part of this revival.

Some 60% of respondents see digital transformation as key with innovation in work processes, flexible work options and customised products and services identified as future strategies. However, cost-effective solutions are required given that cashflow remains top of mind and SMBs are unclear where to look, or even what suitable solutions are available. This is especially key where only four in 10 SMBs have a department or person responsible for innovation.

Specifically:

• Fifty-three percent of SMBs in Asia expect to thrive post-pandemic and 60% see digital transformation key to success

• SMB respondents in Indonesia, India, Vietnam, Australia, and Thailand are the most confident of their company’s ability to be innovative and see digital adoption as a key strategy

Indonesia sees the importance of digital to business success, with 74% of Indonesian respondents ranking it as 'essential' or 'very important' against regional average of 59% (India 75%; Vietnam 60%; Australia 58%; Thailand 75%)

• Japan, South Korea, and Singapore are more conservative about their predictions for the future, possibly based on the global nature of their economies. Japan sees the importance of digital to business success with 34% of Japanese respondents ranking it as 'essential' or 'very important' against regional average of 59%; (South Korea 43%; Singapore 50%)

That said, respondents also identified barriers to success. Forty-five percent cited global instability post-pandemic as a key concern due to the uncertainty and inability to plan for the future. Besides global instability, the top three barriers to success are cash flow (28%), the need for adequate marketing and recruitment.

“SMBs are the lifeblood of every economy in Asia but the pandemic has hit SMBs hard. As the engines of growth for Asia economies, it is critical for them to move past survival to revive their businesses,” said Ng Tian Chong, MD, Greater Asia at HP.

“This study provides us with the insights to provide practical help for SMBs so that they have access to an ecosystem of devices, tools and technology. With these resources, we want to help SMBs unlock innovation for customer and employee-centric experiences, as well as broadly upskill talent to rebound from the pandemic and prepare for the future.”

Source: HP. Infographic showing the Asian and Singapore figures for the Survival to Revival survey.

Completed in June 2020, the study surveyed SMBs across Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand, and Vietnam and found:

• SMB owners understand that bouncing back post-pandemic will require them to lean on innovation in how they work, flexible work options and customisation of products and services. The top aspects to help them best bounce back are:

- Workstyle innovations (27%),

- Flexible work options (26%),

- Innovation in products and services (25%),

- Better use of digital tools available (23%) and

- Digitalising processes (19%).

• Companies most confident of bouncing back place high importance on digital adoption

Across the region, nearly 60% view digital adoption as very important or essential. Indonesian SMBs are particularly sensitive to this need, with a full 74% believing it is essential or very important, as are Thai SMBs, also at 65%.

• Growth projections have been significantly adjusted post-pandemic.

Across the region, 46% of SMBs were expecting growth prior to the pandemic but that figure has dropped to just 16%. India and Vietnam are the most confident about post-pandemic growth and Singapore, Japan and South Korea are least positive.

• Disruption to productivity is a common experience during COVID.

Only 6% of SMBs recorded higher levels of workplace productivity compared to the pre-COVID period while 43% recorded lower productivity.

• Skills is an issue.

The pandemic amplified the lack of digital-first mindsets and skills within existing SMBs that hamper growth, affecting nearly half (44%) of respondents.

SMBs are looking for the magic hire, preferring to hire people who can fulfil multiple duties to optimise productivity. In this context, hiring and recruitment is incredibly difficult as the SMB is trying to find someone with a broad range of skills from a narrow pool of candidates. This is particularly an issue in Japan, Thailand and Vietnam where recruitment is one of the top three barriers to success. The education, financial services and healthcare verticals also cite recruitment as one of the top three barriers to success.

• SMBs are unclear on where to look for assistance.

Financial institutions, especially, rank high (31%); 60% of SMBs consider government support to be insufficient and/or are unclear on what support is available; only 19% of respondents turn to IT companies for help.

Underpinning all of this is a need to identify digital talents who can help SMBs to transform the business. The majority of SMBs do not dedicate resources and/or invest in innovation as a discipline; it is more common to ask customers what they want, or simply mirror what the competition is offering.

Further:

- Only four in 10 have a team or individual responsible for developing new products and service.

- One in five work with external specialists or consultants to foster innovation.

- One in five SMBs have customised offerings, looked for new sales and supply-chain channels, or introduced new lines of business. 

Indonesia (59%) and Thailand (51%) stand out for having the highest percentage of SMBs dedicating resources to innovation. Unsurprisingly, SMBs in Indonesia and Thailand are also the most confident about business performance post-COVID.

Over half (54%) of SMBs see the pandemic as an opportunity to reformulate their business despite less bullish growth, with only 16% expecting growth post-COVID in 2021. To bounce back quickly from the pandemic, SMBs expect to increase usage of online meeting and digital tools and to migrate more processes to digital. Resources that can provide practical help on how to leverage digital technology to unlock innovation are a priority for rebounding from the pandemic most effectively, they said.

In response, HP is introducing integrated services-based print solutions, including an HP Roam for Business bundle, to make it easy to print on the go. Another solution for SMBs is the enhanced HP SecurePrint, a flexible, cloud-native solution that releases documents only to authorised users.

To support SMBs in adapting to new agile working environments, HP has introduced a suite of integrated services-based print solutions. HP is now offering a one-year license for HP Roam for Business with a compatible HP LaserJet Pro 400-series bought by 31 October 2020, making it easy to print on the go from a mobile device and to retrieve the job in a contactless manner at any HP Roam-enabled printer within the company network.

In addition, HP has enhanced HP SecurePrint, which now supports all network types, including traditional networks behind a firewall as well as serverless print environments, helping customers simplify IT infrastructures. To empower workers the HP Workpath ecosystem,which enables workers to connect to cloud-based platforms directly from the multifunction printers (MFP)**, has expanded rapidly since it launched in November 2019, with 100+ apps available on the platform and thousands of apps deployed.

To meet the demands of the SMB worker’s multitask, multiplace workday, HP PCs are designed to enable them to work anywhere. To ensure SMBs get ease of mind when working anywhere, HP is offering Sure Click Pro for free to all HP and non-HP Windows customers till September 30, 2020. HP Sure Click technology guards against malware, ransomware, and viruses embedded in email attachments or malicious websites.

HP is making it easy for SMBs to get their hands on the latest technology. Through initiatives like HP For Business in Thailand, HP has tailored a monthly subscription programme that includes powerful devices with trusted security and 24x7 technical support. The programme helps relieve financial pressures on entrepreneurs in the short term and takes care of their IT management needs.

Further, the HP LIFE programme offers free online self-paced training courses designed to help entrepreneurs and SMBs acquire new skills to grow their business, such as business communications, having a success mindset, social media marketing, and design thinking.

Explore:

Learn more about research highlights.

*The survey covered 1,600 SMBs which completed the survey between 26 May 2020 and 7 June 2020. The results comprise 200 interviews in Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand, and Vietnam. Only an owner, partner, MD, CEO, COO, CFO, or a Director of a business with fewer than 200 employees qualified for the survey. 

Interviews were split evenly between micro business (<10 employees), small business (10-49 employees), and medium business (50-199 employees). 

Multiple industries were represented, including retail/wholesale, manufacturing, professional services, healthcare, education and financial services. 

**Multifunction printers do more than just printing. Typically they will also scan and copy documents.

Singapore fintech aims to offer better B2B lending terms

Singapore-based startup Cash-IN-Asia has launched its business-to-business (B2B) fintech lending platform. Its approach to provide a 100% digital experience allows business owners to obtain financing from their mobile device.

Cash-IN-Asia plans to serve micro, small and medium enterprises (MSMEs) in Singapore with products that not only address existing needs, but also assist these key members of Singapore’s economy to realise their business potential well after the crisis is over.

Its ISO27001-certified platform is powered by artificial intelligence (AI) and data analytics, and aims to provide a one-stop solution for transparent and flexible financing to MSMEs. By using AI and analytics in their credit decision and fraud detection engine, Cash-IN-Asia combines conventional risk assessment methods with alternative data and behavioural analysis for quicker and more accurate processing.

Two types of financing are offered: credit line and term loan. Amounts start at S$3,000 for a credit line to a maximum of S$150,000 for a term loan. Term loan tenures range from six months to three years, with no pre-payment penalties.

The platform requires a three-minute application, and promises an outcome in less than three hours. Successful applicants can request their approved funds to be disbursed in the next three hours. The time-to-cash process is one of the fastest amongst Singapore-based lenders today, the company said.

According to Cash-IN-Asia, studies* reveal that a significant percentage of small businesses in Singapore tend to be self-funded by business owners who may turn to their personal credit cards when difficulties arise. Credit card interest is high, and robs businesses of the opportunity to build their corporate credit history.

To offer a better alternative, Cash-IN-Asia prices financing rates lower than those of credit cards. The rates start at 20% for a credit line and 18% for a term loan. Cash-IN-Asia also structures its products to incentivise MSMEs to build a credit history that ultimately rewards good customers with cheaper financing over time.

Said founder and CEO, Eldwin Wong: “Our initial rate may be 20%, but the final rate they are charged eventually depends on them. If our clients perform well, confidence rises and trust is built. Our rates then come down, which is one of our unique value propositions for clients.”

Cash-IN-Asia also employs a “don’t use, don’t pay” model for its products. Sign up and application is free, and upon approval, clients are granted a credit facility with no fees or obligations. This is unlike other lenders that may impose a recurring facility fee.

The treatment of delinquent loans is another example of how the lender approaches things differently. The common practice with most traditional lenders is to declare these loans “in default” and resort to legal proceedings. Cash-IN-Asia prefers to work towards long-term “win-win” relationships instead. Troubled clients are given the opportunity to restructure their loans on acceptable terms that will help restore their businesses to health and service their loans.

Wong elaborates: “We believe in helping small business owners with their cashflow. That way, they get to focus more on their business and their chances of doing well increases. In turn, we will be able to scale up their loans and do more for them. One example of that is an automatic review of all client accounts every two months, to raise the credit limits of those in good standing for future growth.”

Cash-IN-Asia is the first B2B fintech lending company in Singapore to attain the ISO 27001 certification for information security. The certification allows it to meet diverse challenges of operating in the digital economy with high standards of business protocols and data integrity.

*Bain & Co, Fulfilling its Promise – The future of Southeast Asia’s digital financial services, 2019; and Deloitte Southeast Asia, Digital banking for small and medium-sized enterprises, 2015.