Data management key as SMEs strive towards bigger goals SMESpotlight

Online concierge and delivery service firm Honestbee started small but has grown by disrupting traditional business models with technology and expanding its use of data.
Online concierge and delivery service firm Honestbee started small but has grown by disrupting traditional business models with technology and expanding its use of data.PHOTO: HONEYBEE

How effectively organisations are able to utilise data will determine their success

The move towards the digital economy is not easy, especially for small and medium-sized enterprises (SMEs), given the complexity and knowledge required. In a recent UOB study on SMEs in Asean, Singapore SMEs ranked "help for digitisation" as the second-most important item on their wish list.

To help SMEs build their digital capabilities, the Government has introduced two initiatives: the SMEs Go Digital Programme for which more than $80 million has been set aside to enhance SMEs' overall level of digital readiness, and the Open Innovation Programme to help businesses crowdsource solutions to their digital challenges.

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A version of this article appeared in the print edition of The Straits Times on June 13, 2018, with the headline 'Data management key as SMEs strive towards bigger goals SMESpotlight'. Print Edition | Subscribe