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

Jabra redefines collaboration for small spaces

Jabra, the professional audio brand, has launched the PanaCast 40 VBS, the only Android-powered video bar system (VBS) that captures an entire small meeting room with an 180° field-of-view (FoV). This innovation builds on the success of Jabra’s PanaCast 50 VBS, effectively bringing the same powerful performance to smaller spaces in a more compact and cost-effective package.

Small meeting spaces often pose unique challenges for video collaboration. Traditional solutions often struggle to capture all participants equally, particularly those seated closer to the screen, while some lack videoconferencing equipment altogether. In fact, less than 3% of huddle rooms are video enabled* globally, leaving millions of small meeting spaces underutilised.

The PanaCast 40 VBS bridges this gap with dual-camera systems that a wide FoV through advanced stitching technology. This ensures full room coverage, making every participant clearly visible on video.

The video capabilities are matched by the advanced audio performance, which stems from the GN Group's unique sound processing capabilities. The sound is powered by a single high-quality speaker and six adaptive beamforming microphones. Intelligent algorithms enhance sound clarity for exceptional voice pickup, so every word is heard clearly and accurately, fostering more natural interactions and ensuring remote participants feel fully included.

The PanaCast 40 VBS offers a straightforward installation process - from unboxing to mounting and on to the first meeting. Its intuitive setup ensures that even first-time customers can get their systems up and running in seconds.

New packaging enhances the deployment experience further by allowing provisioning without the need to remove the product from the box. The design also features easy cable routing, reducing installation time. It also ensures a consistent and seamless experience for meeting spaces by sharing many of the same accessories as its medium room counterpart, the PanaCast 50 VBS. This enables simplified operations for administrators and flexibility across different room sizes.

With its certified compatibility for Android environments, the  PanaCast 40 VBS offers flexibility with Zoom, Microsoft Teams, and bring your own device (BYOD) deployment options. To enhance usability and longevity, the PanaCast 40 VBS includes optional accessories such as a touch controller and a detachable faceplate for easy cleaning. It can also be purchased as a bundle, with both the PanaCast 40 VBS and the touch controller included. 

Rayson Seow, Country Manager, Enterprise, Singapore for Jabra said: “The modern workplace is undergoing a transformation, with organisations reimagining how their spaces can drive productivity and collaboration. Small rooms, phone booths and huddle spaces are a cornerstone of this evolution, yet they’ve often been overlooked by traditional video solutions.

"With the PanaCast 40 VBS, we’re addressing this gap by delivering a flexible, intuitive, and future-proof Android solution that empowers teams to collaborate seamlessly, regardless of room size or platform preference.” 

Source: Jabra. The PanaCast 40 VBS turns huddle rooms into collaboration hubs.

Key features include:

- 180° FoV with dual cameras and 4x digital zoom. 

- One speaker and six microphones, enhanced by intelligent audio algorithms for crystal-clear sound and voice pickup. 

- Shared touch controller and stand with the PanaCast 50 VBS medium room solution for seamless integration across spaces. 

- Simplified cable routing and protection for easy, clean setup. 

- Microsoft Device Ecosystem Platform-based, delivering strengthened security and enhanced meetings experiences.

- Supports personalisation and the setting of virtual meeting space boundaries.

Seamless integration with ecosystem partners ensures a future-proof investment, complemented by up-to-date manageability through Jabra+ software and the reassurance of Jabra Warranty+ services.

Details

The Jabra PanaCast 40 VBS bar has a manufacturer's suggested retail price (MSRP) of S$2,206 while the Jabra PanaCast 40 VBS bar with touch controller has a MSRP of S$3,235.

*Frost and Sullivan, 2024.

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.

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.

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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.

Maybank helps SMEs with digital transformation

Source: Maybank. Leong.

In November 2017, Maybank Singapore partnered with Asian Business Software Solutions (ABSS) to empower startups and micro businesses in Singapore with Financio, an affordable cloud-based accounting solution which does not require any accounting knowledge to operate.

Almost a year on, Maybank's Marc Leong, Executive VP and Head SME Banking, Community Financial Services, shares that one in every five small and medium sized enterprises (SMEs) which open an account with the bank is also signing up to use Financio.

"Despite being in Singapore, adoption of the cloud is far from satisfactory," he said at the recent Accounting & Finance Show Asia 2018 in Singapore. He estimated that some 60% to 70% of small businesses are still working with offline software, or even doing their book-keeping manually.

"The bank has a deep role to push the go-digital (trend)," he said. Another digital initiative from Maybank, executed together with Financio, is PayNow-ready invoicing. In September, Maybank Singapore and Financio launched unique PayNow QR codes with embedded payment details, enabling funds received via PayNow to be easily tracked in Maybank’s Business Internet Banking and updated directly in the ledger.

PayNow is a peer-to-peer payment service that has been available to retail customers of nine participating banks in Singapore since July 2017. The generic PayNow QR codes had lacked enough payment details to identify what was being paid for.

More announcements are planned for later in the year, Leong said, around the Singapore government-driven SMEs Go Digital programme, and also a new branch along main tourist belt Orchard Road which will incorporate a digital bank in a cafe.

"We're taking this role seriously," Leong said. "It is an ecosystem play, leading from the SME to the bank to fintechs...This will be the trend. If you don't want to join it you will lose out."

Leong also shared that Maybank is locally incorporating its Community Financial Services business in Singapore. "By November 5 we will be fully incorporated," he said. "It is a huge step for us, a surefire way to tell the world and Singapore that we are here to stay."

Since PayNow Corporate was launched on 13 August 2018, close to 2,000 Maybank customers have signed up for the banking service to receive or send payments between businesses and individuals instantly with just a Unique Entity Number (UEN) or a PayNow QR Code.

Maybank and Financio shared the same booth space at the event.

The Maybank reception counter.

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Maybank Singapore is promoting Financio and PayNow with initiatives such as:

- Maybank is offering the first 12 months free for Financio. The premium plan usually costs S$9.95/month.

Maybank PremierBiz or FlexiBiz account holders can sign up for Financio by:

Applying and activating Maybank Business Internet Banking.
Registering for Financio upon account opening by completing a consent form.
Completing an ABSS GIRO form for subscription fee deduction (applicable for the Financio Premium Plan).

- From now until 31 December 2018, business banking customers stand to receive S$88 cash credit when they process a minimum of S$10,000 in incoming funds collections via PayNow for three consecutive months.

- Maybank Singapore is waiving all transaction fees on PayNow until December 2019.

SMEs can up for PayNow via Maybank’s Business Internet Banking platform or with a paper form.

IMDA partners telcos, financial institutions to support SMEs

Seven memoranda of intent (MoIs) have been announced between the Infocomm Media Development Authority (IMDA), telecommunications and financial institutions. These partnerships will help small and medium-sized enterprises (SMEs) accelerate the adoption of pre-
approved robust, secured and interoperable digital technology solutions, particularly in the
areas of cybersecurity and data analytics.

Launched in April 2017, the SMEs Go Digital programme helps advise SMEs on the
adoption of digital technologies at each stage of their growth as well as to boost productivity.
SMEs contribute to almost 50% of Singapore’s gross domestic product and employ
two out of three workers in Singapore. Digital technologies have the ability to transform the
way SMEs function and help businesses improve revenue in the long term by managing
operating costs, improve compliance and financing*.

Telcos M1, Singtel and StarHub will provide SMEs with a one-stop service
through digital technology-bundled packages. These packages offer broadband or Wi-Fi
connectivity bundled with IMDA’s pre-approved digital technology solutions, cybersecurity
and data analytics tools and services.

Through the partnerships with the DBS Bank, Hong Leong Finance, Oversea-Chinese
Banking Corporation (OCBC Bank) and United Overseas Bank (UOB), SMEs will have
access to financial instruments such as bridging loans to help defray costs when investing in building new capabilities. The banks will also work with business leaders to kickstart innovative solutions with SMEs and industry partners.

The collaborative efforts were announced by Minister for Communications and Information, Dr Yaacob Ibrahim, at the Singapore Chinese Chambers of Commerce and Industry’s (SCCCI) Annual SMEs Conference and Infocomm Commerce Conference.

“We believe our SMEs need to embrace technology to thrive in a Digital Economy. Through collaborations between IMDA and key industry partners, SMEs can more easily assess digital technologies and financing support to embark on their digitalisation efforts. We welcome more partners to join us in supporting our SMEs in their digital journey,” said Tan Kiat How, Chief Executive, Infocomm Media Development Authority.

IMDA will continue to work with trade association and chambers such as SCCCI, and government agencies in reaching out to SMEs to provide assistance to help them scale efficiently and enhance their business value. As of end July, close to 200 SMEs have adopted over 30 out of the 56 IMDA’s pre-approved digital solutions through the SMEs Go Digital programme.

DBS aims to leverage various SME initiatives like DBS TechMatch, where SMEs are matchmade with tech partners for more efficient technology adoption, and DBS BusinessClass, an engagement program/app platform to connect SMEs with business mentors from around the world. In addition, the DBS SME banking team will continue to support SMEs with working capital products and technology adoption bridging loans.

“As we look towards transforming Singapore to a digital economy, local businesses must evolve along in this momentum. We continue to focus our efforts to help SMEs build their digital capabilities to seize new growth opportunities.” said Joyce Tee, Group Head of DBS SME Banking.

As an established SME financier, Hong Leong Finance intends to influence customers who are industry leaders to seek and pilot emerging technology solutions to help uplift productivity and competitiveness for their sectors. Furthermore, Hong Leong Finance will reach out to hundreds of SMEs to introduce the SMEs Go Digital programme through its different platforms including events and collaborative clinics with SME Digital Tech Hub Specialists. Hong Leong Finance’s SME Relationship Managers will all be trained by IMDA to enable them to introduce the SMEs Go Digital programme to SMEs.

Under its enhanced SME Capability Ready (CARE) Programme, SMEs keen to go digital will be guided by the Relationship Managers to make the right contact. They will also be introduced to government capabilities grants that can help them defray costs in their capabilities building investments and to bridging loans for them to wait out for grants. “Faced with rising operating costs, increasing competition from the digital economy and changing consumer behaviour, many SMEs are keen to use digital capabilities to improve their efficiency and competitiveness. But they do not know how. With the partnership with IMDA, Hong Leong Finance will be that connector between these SMEs and digital advisers to help them find suitable solutions and provide them financing,” commented Ang Tang Chor, President, Hong Leong Finance.

M1 Solutions that have already identified and are now commercially available include smart fleet management and retail analytics. More solutions will be added progressively. "Our strategic partnership with IMDA will enable us to better serve SMEs through our one-stop smart digital services platform, enhancing their productivity and business value add. We look forward to engaging SMEs and help them tap on M1's selection of carefully curated smart digital services in areas such as fleet management and retail analytics," said Willis Sim, Chief Corporate Sales and Solutions Officer, M1.

OCBC Bank’s collaboration with IMDA on the SMEs Go Digital programme underscores OCBC Bank’s commitment to helping SMEs digitalise, the bank said. OCBC Bank will continue to reach out to their customers and for those who wish to integrate certain digital programmes into their business, OCBC Bank will provide them the necessary financial support via bridging financing, invoice financing and other forms of financial assistance. Activities such as industry sharing sessions and focus group sessions that allow SMEs to hear from experts and learn from each other’s experiences will also be organised.

“Going digital is no longer an option for SMEs today. Companies that embrace digitalisation both in the way they engage and serve their customers and in the way they manage their operations, develop a competitive edge and a more sustainable foundation for their business growth. As banker to one in every two SMEs in Singapore, we are committed to working with our SME customers to deliver digital solutions in cash management, trade finance and working capital management, and to support their transition towards a more digitally-enabled business under IMDA’s SMEs Go Digital programme,” said Linus Goh, Head, Global Commercial Banking, OCBC Bank.

Singtel’s suite of solutions are designed to increase SMEs’ revenue growth, raise their productivity and reduce their operational costs, the company said. The 99%SME e-marketplace allows SMEs to market themselves online for free and tap on a wider online customer base, for example. SMEs participating in the e-marketplace can access digital marketing tools, mobile payment and cyber security services.

Singtel solutions also include a Connected Restaurant that enables food and beverage (F&B) owners to overcome the challenge of operating different devices with an all-in-one interoperable solution that integrates online reservations and ordering; self-serve kiosks; eMenus; payment solutions; staff scheduling; payroll management and accounting systems, and a Connected Workforce solution that enhances business communication and productivity of SMEs in the logistics and security business.

“The IMDA’s SMEs Go Digital programme augments our initiatives to help SMEs progress and advance in their digital journeys. With our end-to-end solutions, from connectivity to cyber security, we are well placed to curate solutions catering to the needs of SMEs in various sectors, easing their adoption of digital technology,” said Andrew Lim, MD, Business Group, Group Enterprise at Singtel.

StarHub is supporting IMDA’s SMEs Go Digital programme with Smart Retail, an integrated offering that makes it convenient and cost-effective for SMEs to get the connectivity services, business transformation solutions and technical support needed to optimise their business operations and enhance customer service. StarHub will help to ease ICT adoption for SMEs by enabling Wi-Fi connectivity as well as sourcing and integrating business transformation solutions such as retail analytics, customer relationship management, point-of-sale, digital ordering, e-commerce and digital signage as a single subscription service. StarHub will also drive awareness programmes, government grant application and claiming, training and support services.

“SMEs play a significant role in sustaining the economic growth of Singapore. To survive and thrive in today’s manpower-lean and competitive economy, SMEs must exploit digital technologies to transform their businesses. In line with IMDA’s SMEs Go Digital programme, StarHub is pleased to launch our Smart Retail initiative to help SMEs accelerate digitalisation by reducing the complexity and cost of IT adoption. With Smart Retail, SMEs will get easy and affordable access to a suite of business applications, broadband and Wi-Fi connectivity and technical support as a single subscription service," stated Dr Chong Yoke Sin, Chief of Enterprise Business Group, StarHub.

As part of UOB’s collaboration with IMDA, the bank will conduct industry-specific workshops where its customers can learn more about how they can tap IMDA’s pre-approved digital solutions to overcome challenges, to enhance their capabilities and to seize opportunities in the digital economy. UOB has been working with its partners to provide SMEs with solutions that help improve productivity, competitiveness and profitability.

Mervyn Koh, MD and Head of Business Banking, Singapore, UOB, cited BizSmart as an example of how UOB's Business Banking customers can achieve cost savings of up to 60% by automating their back office processes. BizSmart is an integrated cloud-based business solution with 5 digital applications to help SME retailers increase business efficiency. For organisations in industry sectors such as property management and education, UOB introduced a mobile payment function on the hiLife and snaapp apps, which enables the electronic collection of monthly fees and in turn reduces the manpower needed for administrative and payment functions.

“As the banking partner to one in every two small and medium enterprises (SMEs) in Singapore, UOB understands the challenges business leaders face and how digital technology can help them address their concerns. Our partnership with IMDA will extend the support we provide to our business and commercial banking customers by connecting them to IMDA-approved digital solutions based on their business needs. These solutions can help SMEs sustain and grow their businesses as they seize opportunities in the digital economy,” said Choo Kee Siong, MD and Head of Enterprise Banking, UOB.

“As an SME, it is important that our business processes are efficient and lean. We have already adopted UOB’s BizSmart solution to integrate and streamline our key processes such as point of sale (POS), accounting and HR/payroll matters. These solutions have also provided insights that help us to make smart, data-driven decisions for the business. Having experienced the benefits of using digital solutions, I look forward to finding out more about other solutions that can help my business become more competitive,” said Angeline Ong, DishTheFish, a new-age fishmonger transforming their business with digital solutions.

*National Business Survey 2016/2017 report

Alibaba's Ma says more support for young entrepreneurs, small businesses needed

Alibaba Group Executive Chairman Jack Ma has called on the 34 Asian Cooperation Dialogue (ACD) member states for more policies and infrastructure that support individuals under 30, as well as companies with fewer than 30 employees as they will drive future economic success on a global scale.

“Small is beautiful. Small is powerful,” said Ma in his capacity both as Alibaba Group Executive Chairman and as Special Adviser on youth entrepreneurship and small business to the United Nations Conference on Trade and Development (UNCTAD). The second ACD Summit was held in Bangkok, Thailand on October 9 and 10 with the theme One Asia, Diverse Strengths.

In his address, Ma picked up this theme to talk about the inclusivity and openness of Asia as a region, pointing to how mobile technology in particular had the potential to overcome geographic challenges with regard to trade promotion, financing and job creation. He also emphasised the importance of infusing innovation and imagination into education in Asia. By working together Ma suggested that member countries had the ability to create the next stage of globalisation, one that evolves away from enabling large corporations and on to realising the potential of smaller businesses.

The Asian Cooperation Dialogue (ACD) is an Asian regional cooperation platform initiated by Thailand in 2002 with the aim of connecting the countries in Asia and to build an Asian community based on dialogue and cooperation. The membership has extended to 34 states which represent 60% of the global population.

Ma was one of the first business leaders, and the only business leader from China, to speak at the forum which holds a number of values in common with the Alibaba Group, such as positive thinking, openness and a proactive and results-oriented nature.

Back up Office 365 emails with new Dropsuite cloud solution

Small and medium sized enterprises (SMEs) can take advantage of Dropsuite's Microsoft Office 365 (O365) Email Backup & Archiving solution via resellers such as Australia-based Ozhosting and Singapore-based ICONZ-Webvisions.

Dropsuite CEO Charif Elansari said: “At Dropsuite, our engineering-first culture is all about designing intuitive solutions that can be easily purchased and used by SMEs.”

CEO of Ozhosting Doug Endersbee said: “We’re delighted to be able to offer our customers Dropsuite’s O365 Email Backup & Archiving, a comprehensive email archiving service to a ‘legal hold’ standard.

“Many of the businesses we serve are professional services such as lawyers, accountants, health, architects, and every email has the potential to contain advice or a commitment that is legally binding and must be permanently retained - these businesses need the ability to protect themselves from inadvertent or malicious deletion of emails.

“A solution that is easily deployed, completely independent and isolated from the email platform, connected in real time to capture every file, and simple to search is just what our customers need.”

Microsoft Office 365 has over 60 million monthly active commercial users, and  50,000 small businesses added every month, according to Microsoft as of Q116.

Kaspersky offers tools to combat ransomware

The business segment is becoming a more and more attractive target for ransomware developers. Ransomware is malware which renders existing files unusable through encryption and asks for a ransom to make them usable again, with a decryption key.

According to a Kaspersky Lab report based on Kaspersky Security Network (KSN) data, the number of attacks against the corporate sector 2015 to 2016, compared with 2014 to 2015, has grown six-fold: from 27,000 to 158,000. This works out to ransomware trying to encrypt the data of every tenth B2B user, the company said.

Cyber-criminals using ransomware have begun to attack businesses more frequently, particularly small and medium-sized companies. This trend is confirmed by the IT Security Risks 2016 study from Kaspersky Lab and B2B International, during which 42% of respondents from small and medium-sized businesses agreed that crypto-malware (ransomware) was one of the most serious threats they faced last year.

For small companies, any data unavailability – however brief - can lead to significant losses, or bring their entire operations to a halt. If a company has not been taking due measures to ensure the safety of its important information, purchasing the decryption key from cyber-criminals can be the only way to recover data. However, this does not guarantee complete data recovery, or even any data recovery at all.

Kaspersky Lab experts recommend that small and medium-sized companies should follow several simple safety rules:

• Make regular backup copies of all important files. Companies should have two backups: one in the cloud (for example Dropbox, Google Drive, etc.), and another on an additional server or on removable media if the data volume is not too big.

• Trust well-known service providers who invest into security. Such providers will share security recommendations on their websites, and publish third party security audits on cloud infrastructure. Cloud providers can have security, availability or data leakage problems.

• Raise the question of what to do if the cloud or security provider loses your data. There should be transparent data backup and restore processes together with data protection and access control.

• Avoid using only free security and anti-malware software: small businesses expect the basic security tools offered within free solutions to be sufficient. Free tools do provide basic protection, but they fail to provide multi-layered security support. Instead, take a look at dedicated solutions: they do not require a large financial outlay, but deliver a higher level of protection.

• Regularly update operating system (OS), browser, antivirus, and other applications. Criminals use vulnerabilities in popular software to infect user’s devices.

• Prevent IT emergencies - invite an expert to configure the security solution for your company. Small businesses usually rely on the 'techiest' person in the office to take care of the computers, in addition to regular duties, instead of an IT department or full-time dedicated administrator. Instead of waiting until something breaks, use IT support from an IT service provider to review your software and security configuration in advance.

“Crypto-malware is becoming a more and more serious threat. Not only (can) an organisation lose money for ransoms, but business can be paralysed during file recovery. There is wide attack vector including Web, mail, software exploits, USB devices, and others. To avoid infection, your personnel should explain where attacks come from and that employees should not open (suspicious) email attachments, visit untrusted Web resources or plug USB devices into unprotected computers. Anti-malware solutions are an essential measure to avoid majority security incidents,” noted Konstantin Voronkov, Head of Endpoint Product Management, Kaspersky Lab.


Interested?

Businesses which have experienced ransomware can check whether it is possible to recover them by using free utilities or decryptor keys from Kaspersky

ALE's upgraded Alcatel-Lucent OpenTouch Suite for SMB eases collaboration and productivity

• OpenTouch Suite for SMB delivers new voice communications capabilities that promote collaboration, efficiency, and productivity 
• New DECT phones help keep people connected even in the most adverse environments
• New integrated solution helps improve staff productivity and reduce costs, while delivering an enhanced guest and user experience

ALE, operating under the Alcatel-Lucent Enterprise brand, is helping small and medium businesses to offer employees a simplified user experience and improved onsite mobility, while creating business continuity with its latest update of Alcatel-Lucent OpenTouch Suite for SMB.

The latest enhancements to OpenTouch Suite for SMB promote increased productivity and efficiency via expanded communication and collaborative tools, and help employees access the company environment anytime, anywhere via mobile applications.

The core of the OpenTouch Suite for SMB is the Alcatel-Lucent OmniPCX Office RCE release 10.3 converged communication server, which has the following new capabilities:

Voice communications

• The 8018 DeskPhone provides a high-end business-grade feel and design at an affordable cost, with advanced user-friendly telephony features and a full-duplex speakerphone.
• Office employees can transfer calls seamlessly between smartphones and deskphones using near field communications (NFC) technology.
• The IP Softphone is now available for Android tablets and smartphones, enabling enterprises to deploy a consistent softphone platform across all major business systems and devices.

Enhanced onsite mobility

• The entry-level 8212 DECT handset offers SMBs a competitively-priced, cordless, compact, modern design phone with support of both IP and TDM.
• The industrial grade 8262 DECT handset with a ruggedised body and shock-proof screen is ideal for harsh environments, such as construction, manufacturing, and the oil and gas industry. It also offers an integrated man-down, no movement, pull cord and emergency capabilities, so employees stay connected with the rest of the organisation even in a physically adverse work environment. 
• Call history is now available and accessible anytime on the DECT handsets.

Business continuity, additional compliance, and better security

• Support of SIP trunking adds cost benefits.
• Security updates minimise vulnerabilities and maximise uptime. 
• Maintains evolving market standards for Request for Comments (RFC) parameters to assure compliance and interoperability.

GoDaddy provides Office 365 to SMBs

GoDaddy, the technology provider dedicated to small businesses, has launched a new offer in collaboration with Microsoft, through which Microsoft Office 365 will be offered to small businesses across Asian markets. The move supports GoDaddy’s ongoing push to deliver premium small business management solutions globally.

By offering Office 365, GoDaddy is providing customers with seamless access to professional email connected to a domain name, secure cloud storage, and a comprehensive set of productivity and collaboration capabilities.

“GoDaddy’s small business expertise combined with Microsoft’s email and productivity offering provides small business owners in Asia with solutions to make the business of running their business much easier,” said Roger Chen, Vice President of Asia, GoDaddy.

“Our research shows consumers are  nine times more likely to choose a company that uses a professional email address with its own domain name. We’ve created an experience that makes this simple for businesses of any size.”

“Office 365 also includes enterprise-grade, built-in security features that help deflect malware, spam, phishing attacks and other threats,” said Parri Munsell, Senior Director O365, Microsoft.

Interested?

Microsoft Office 365 from GoDaddy is now available in 13 markets across Asia, including: Singapore, Hong Kong (English and Traditional Chinese), Indonesia, Japan, Malaysia (English and Malay), Philippines (English and Filipino), South Korea, Taiwan, Thailand, and Vietnam.

posted from Bloggeroid

Canon introduces FleetnexG cloud-based logistics for SMEs

Canon Singapore has introduced FleetnexG, a cloud-based logistics solution that equips businesses with real-time data for tracking delivery and automated scheduling. The solution is designed for small and medium-sized enterprises (SMEs) for whom scheduling, delivery of goods, and documentation for compliance are part of their core business operations.

“For SMEs to succeed today, they must look beyond simply fulfilling orders in a timely fashion, to optimising resources for greater efficiency and productivity,” said Vincent Low, Director & General Manager of Business Imaging Solutions, Canon Singapore. “FleetnexG combines Canon’s knowhow in document imaging technology with a robust cloud-based software to address the challenges faced by these businesses in tracking and managing resources, enabling them to harness the benefits of real-time data without the daunting costs of implementation.”

Smarter processes

FleetnexG is fully compatible with Canon’s range of multifunctional devices. Business owners can choose among proof of delivery, scheduling and fleet management system, mobile delivery note, or a combination of two services to increase efficiency.

With this solution, documentation and processes are digitised. As a result, businesses reduce the possibility of misplacing proof of delivery documents, and negates the need to match those documents against delivery orders, a process that typically takes two to three business days. This shortens the order fulfilment cycle, enabling the business to be more efficient in payment processing.

Real-time insights

Without the tools to access automation, business owners often resort to time-consuming processes such as manual documentation, which may be prone to inaccuracies. Additionally, the lack of insights derived from real-time data may result in inefficiencies in the form of unnecessary delivery trips, fuel expense, and manpower.

With FleetnexG, business owners can access an automated streamlined work process to identify and optimise areas along the process flow, redeploying employees for higher value work. At the same time, real-time data offers end-to-end tracking and higher accountability to clients.

Use cases can include:

Proof of Delivery

· Real-time status updates to track delivery and return of goods.
· Quick and easy organisation of data, saving administration staff the time to match the delivery order to the proof of delivery documents.
· Easy retrieval of digitised documents and saves administrative staff the hassle of manual filing.

E-signatures or mobile delivery notes

· Delivery orders can be signed using a wide variety of smart devices and the proof of delivery is transmitted as real-time data.
· Documents can be digitalised for easy retrieval.
· Faster billing upon fulfilment of orders.

Scheduling & fleet management system

· System optimises vehicle inventory and scheduling to reduce fuel costs and manpower.
· Reduce administrative burden by automating and generating operational reports.

FleetnexG is developed in conjunction with TPS Asia Pacific and exclusively distributed in Singapore by Canon Singapore.

posted from Bloggeroid

Visa creates Visa Business Hub to help SMBs with technology and strategy

· Visa Business Hub to provide software-as-a-service (pay as you use) services that can help SMBs save up to 25% on IT expenses

· A Business Academy on the hub will provide latest trends on a range of topics via videos and expert opinions

· Malaysia and Singapore are the first markets to try the hub

Visa has set up the Visa Business Hub for small and medium sized businesses (SMBs) to help them navigate potentially confusing technology and gain insights on managing their companies better. Singapore and Malaysia are the first markets where the hub has been launched.

About 80% of companies in Singapore say in a survey that their decision to acquire SaaS/cloud was because of ‘best practice’ – that this technology is seen as ‘the way forward’ and not a fad. Among users of SaaS/cloud, 37% expect to upgrade or take on more software. Upgraders are motivated by cost saving, efficiency, but most of all just by ‘keeping up with technology’.

According to the survey, about half of Malaysian businesses conduct international trade. CRM software is the least adopted software, but like other software, it increases in adoption with larger SMBs (30+ employees).

The hub incorporates software-as-a-service that Visa says can help companies save up to 25% on IT expenses. The pay-on-use model  reduces upfront costs and implementation time for IT. A Business Academy section will provide tips on business success via videos and expert opinions. The hub includes resources related to sales, marketing and customer communication, work collaboration, project management and customer relationship management (CRM), human resources, accounting and legal, and website building and hosting. 

The platform is also designed to help banks increase usage of commercial cards (also called corporate cards, or cards that are issued to companies for corporate use) by allowing offers and discounts relating to SaaS and cloud services to be paid for through a commercial card.

“SMBs are a key segment for Singapore, given that they contribute to almost 50% of our country’s GDP and 70% of the workforce. At Visa, we constantly look to create solutions that are innovative and meet the needs of our clients. The launch of Visa Business Hub will be able to address the key strategies that SMBs mall are looking for, including improving customer service and increasing productivity through streamlining of processes,” said Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei. 

Awareness of cloud services is at 76%, and overall usage is at 34%. The survey also revealed that 40% of businesses might consider SaaS or cloud services in the future, showing that there is a need for a platform such as the Hub.

Vikram Kshettry, Head of Small Business Products, Asia Pacific, Visa said, “Modern businesses face increased demands from their stakeholders to be digitally-enabled and this is often daunting.  With the portal, SMBs can improve cash flow, optimise business processes, while reducing IT spend and complexity.  SMBs can also access advice and coaching from industry leaders on how to stay competitive.  For Visa clients, the portal will ensure deeper engagement with SMB customers and differentiate their solutions.”

Interested?

Visit the Visa Business Hub. The first six digits of a Visa commercial card must be input to enter the site.

View the associated video

More shared service facilities for MSMEs in the Philippines

Philippines Department of Trade and Industry (DTI) Secretary Adrian Cristobal Jr. will intensify the department’s efforts to establish more shared service facilities (SSFs) that benefit cooperatives and micro, small and medium enterprises (MSMEs).

SSFs improve competitiveness of MSMEs by providing machinery, equipment, tools, systems, skills and knowledge under a shared system. DTI partners with various government agencies, non government and international organisations, cooperatives, and local government units to acquire and maintain SSFs.

President Benigno Aquino III personally led the handover of P15.6 million worth of SSF projects to at least 23 cooperatives in Dagupan City recently, the DTI has disclosed. There are now 49 SSFs in Dagupan benefiting local entrepreneurs in fish and meat processing, bamboo production, metal craft, candle making, vinegar processing, dried fish processing, among others.

“These initiatives are geared towards identifying and addressing supply chain gaps. By providing technical and institutional capacity building to MSMEs nationwide, we sustain the gains we have achieved in recent years to increase competitiveness and enable our entrepreneurs to access regional and global markets,” Cristobal said.

Since the SSF programme started in 2013, 1,702 SSF projects have been set up, worth P776.53 million—with at least 17,095 entrepreneurs and 72,619 potential small businessmen benefitting from it. These SSFs, located nationwide, aim to improve the quality of products and productivity of entrepreneurs. According to Cristobal, the DTI targets to establish at least 200 more SSFs by June and at least 400 SSFs by year-end 2016.

Philippine MSMEs asked to embrace e-commerce

The Department of Trade and Industry of the Philippines is urging the micro, small and medium sized enterprises (MSMEs) to venture into e-commerce to expand market reach.

E-commerce is a means to “connect domestic industry with the global economy” said Trade and Industry Undersecretary Prudencio Reyes, Jr. The Philippine E-Commerce Outlook 2018 projects that the e-commerce industry will grow by 101.4% by 2018, up from US$1.15 billion in 2013.

The country’s growing Internet population with an estimated growth of 530% over the past five years is significant component to the e-commerce industry. Out of the country’s 101.1 million population, 44% are active Internet users, 42% are active social media users, 113% have mobile connections; and 36% are active mobile users.

Philippine e-commerce sales reached Php79 billion or 0.6% of the country’s total income in 2012. More than 76.2% or Php 60.17 billion was contributed to the services sector, which includes transport and storage, administrative and support service activities, and wholesale retail trade.

The National Capital Region ranks first in terms of e-commerce sales at Php62.31 billion, followed by the Central Visayas and Western Visayas.

Janette Toral, founder of Digital Filipino, said MSMEs are stakeholders in the Philippine E-Commerce Roadmap (PECR; PDF). "Your participation makes you a party/stakeholder to this roadmap, it is a document all of us to own as public and private sectors” she said.

PECR 2016-2020 is a blueprint to address issues in the country’s e-commerce ecosystem with '6Is' being key focus areas as highlighted in the APEC Digital Prosperity Checklist (doc):

Infrastructure: The need for an appropriate supply chain, communications, and applications infrastructure; 

Investment: The ability to promote and support a range of investment opportunities from foreign direct investments to capital flows; 

Innovation: The ability to foster and support innovation, including the ability to protect innovation and investment in research and development; 

Intellectual capital: The ability to foster the appropriate skills and training from technological to linguistic to entrepreneurship; 

Information flows: The ability to use, transfer, and process information — the currency of the digital economy — while promoting privacy and a trusted Internet environment; and 

Integration: The ability to connect domestic industries with the global economy. 

MSMEs in the Philippines crucial to economic success

Senator Loren Legarda of the Philippines has underscored the role that micro, small and medium enterprises (MSMEs) play in generating jobs throughout the country, especially in poor municipalities.

Legarda, principal author of the Magna Carta for MSMEs, issued the statement following results of an online survey conducted by the Department of Labor and Employment (DOLE) and JobStreet.com Philippines, showing that three out of four locally employed Filipinos would accept jobs in their home region rather than work in another part of the country.

"I am glad that most of our kababayans (fellow Filipino) prefer working in their hometowns than move elsewhere in the country like Metro Manila, hoping to have better lives. This only indicates that Metro Manila is not the only place in the country where there's a multitude of job opportunities as more Filipino MSMEs participate on economic trade resulting to more jobs," Legarda said.

She added, "We need to sustain our gains by strengthening our MSME programmes because aside from generating employment opportunities and better incomes, MSMEs are powerful platforms for promotion of viable rural livelihoods, cultural preservation, socioeconomic empowerment of indigenous peoples, and environmental protection."

Legarda also called on the government to strengthen the country's MSME programme in the Autonomous Region in Muslim Mindanao (ARMM), which registered the highest number of residents who would rather find jobs outside of their hometowns, with only one out of three willing to stay and work locally, in order to spur economic growth particularly in the grassroots level.

The Senator also pushed for the promotion of green jobs and green skills in the country, noting that other nations encourage their people to engage in management in agriculture, forestry, horticulture, environmental information technology, and other careers that contribute to environmental preservation. All these efforts would complement our existing job generation strategies, she said.

Republic Act No. 9501, otherwise known as the Magna Carta for Micro, Small and Medium Enterprises, targets countryside industrialisation through the following: intensifying and expanding programs for training in entrepreneurship and for skills development for labor; facilitating access of MSMEs to sources of funds; assuring them access to a fair share of government contracts and related incentives and preferences; complementing and supplementing financing programmes for MSMEs and doing away with burdensome collateral requirements that small entrepreneurs find difficulty in complying with; instituting safeguards for the protection and stability of the credit delivery system; promoting linkage between large and small enterprises by encouraging the establishment of common service facilities; making the private sector a partner in the task of building up MSMEs through the promotion and participation of private voluntary organisations, viable industry associations and cooperatives; and establishing a feedback, grievance and evaluation mechanism.

Dropmysite rebrands as Dropsuite

·        Brings  cloud-based website backup, email backup and archiving, mobile backup, and newly launched server backup solutions under the Dropsuite brand

·        Reaches millions of SMEs worldwide through global partners such as GoDaddy and Singtel

·        Takes aim at the US$11.92 billion disaster recovery-as-a-service (DRaaS) market

·        Helmed by former Google and Dell executive; backed by global investors

Dropmysite, a provider of cloud-based backup solutions for small and medium-sized enterprises (SMEs), has rebranded to Dropsuite. The rebrand sets the stage for a new global vision, business strategy and ambition around business continuity, data recovery and protection.

Dropsuite now offers backup, recovery and archiving, having consolidated standalone brands Dropmysite (website and database backup); Dropmyemail (email backup); and Dropmymobile (mobile data backup).

Dropsuite has also launched a new solution, DSE Server Backup, which provides file-based server backup. DSE Server Backup is a business continuity tool that makes data backup and recovery quick and affordable. It looks to eliminate business risks caused by avoidable data loss through public or on-premise cloud integrations of software.

The company, backed by global investors Hatcher and 500 Startups, is helmed by former Google and Dell executive Charif Elansari. Singapore-based Elansari said that “downtime and data loss is a massive issue, with a wide range of consequences, yet the backup experience for SMEs is often difficult and expensive. We see a tremendous global opportunity in helping small and medium businesses. They are underserved by IT security programmes and system architectures. We help SMEs recover and get back to business as quickly as possible, ensuring they are not out of business; it’s simply better backup.”

According to Sophos, around 30,000 SME websites are hacked each day. British insurance company Lloyd's estimates that businesses lose around US$400 billion to hackers each year. Meanwhile, research firm MarketsandMarkets estimates the disaster recovery as a service market will see significant growth, from US$1.42 billion in 2015 to US$11.92 billion in 2020 – a CAGR of 52.9%. Key to this is a sharp rise in SMEs demanding effective disaster recovery and backup services to reduce downtime costs, recovery time and complexities, and data loss.

Dropsuite recently signed partnerships with OzHosting in Australia. Other partners include GoDaddy, the world’s largest domain name registrar, GMO Internet, the No.1 hosting company in Japan, and Singtel, the leading communications group in Asia.

John Sharp, CEO of venture capital fund Hatcher, a Dropsuite investor, said: “Data backup for SMEs is a complex task, which Dropsuite has simplified. It has fantastic complementary set of products and skills, having put in place a team with a proven track record in developing platforms and cloud-based solutions. In just a short amount of time, Dropsuite has signed a number of leading global partners. We are confident of Dropsuite’s potential to continue solving complex business issues around continuity, fast achieving its global ambitions and capabilities.”

Interested?

Watch the rebranding video

posted from Bloggeroid

GoDaddy is focused on building big, beautiful business identities for small businesses

Irving.

GoDaddy may have started out as a domain name provider, but it now much more. GoDaddy CEO Blake Irving explained that the company's vision is focused on shifting the emphasis to the small businesses which typically to make up the majority of companies in an economy.

According to Irving, small businesses are an underserved yet giant opportunity, even the ones so small that may only have a staff strength of one. "Small businesses are treated as enterprises or consumers and nobody really builds tools for them," he explained.

The business landscape has also changed. Where a simple website and an email address would have sufficed in the past, today's business is expected to maintain a social media presence, complex websites, understand search engine optimisation, market through email and more.

In addition to helping people "get a great name", which is still 52% of the business albeit shrinking in terms of its contribution, GoDaddy has also expanded its support of small businesses to helping them with business identities, from email addresses connected to the domain name to website creation. GoDaddy has also been an Microsoft Office 365 partner since early 2014.

Customer support is a priority for GoDaddy, which understands the small business owner is unlikely to be tech savvy and may need more hotline help for relatively basic tasks. The company has a team of 3,400-plus people in India, China, Europe and the US whose job is to resolve customer problems, no matter how long it takes. "Technology companies don't tend to talk to customers. If you're a giant company and you've got millions of dollars to spend you have a security guy who is yours. With a small business you're left to visit a website for help," Irving said of the typical tech vendor. "(Small businesses) just want to talk to somebody in the local language."

GoDaddy started looking outside of the US fairly recently. "Three years ago we were in English with US currency and US payment types. In 2016 we rolled out to Asia, and for the rest of 2016 we're going to MENA," Irving said. "Regardless of what country you enter, people want to talk with someone. The need for super simple software is everywhere. The problems are pretty homogeneous."

Localisation, Irving shared, includes offering local numbers, local language versions of a website, as well as the "nuanced differences" required by markets including the need to ensure that the imagery on the website truly represents that market.

Today, GoDaddy manages 61 million domains and has 13+ million customers, hosted in data centres around the world including its only Asian data centre in Singapore. Twenty-six languages are supported, as are 44 currencies, in 53 markets. The company has simplified Office 365 installation to a single setup screen against 22 from Microsoft, and can populate a small business' DNS details to create a related email address in under 100 seconds - a task that used to take an IT person 24 hours, Irving noted.

"GoDaddy is the natural on ramp for people to get their business online. We will educate the market on our brand and build awareness for the services we can deliver; we're here to stay," he said. "We will offer locally relevant products, that help small businesses grow and succeed."

Interested?

Read the TechTrade Asia blog post about GoDaddy's Asian expansion