Singapore is gearing up on its efforts to become a leading digital economy.There is a pressing need for SMEs to also go digital to stay competitive.

To find out how local SMEs are progressing on their digital transformation journeys, the Association of Small and Medium Enterprises (ASME) and Microsoft Singapore polled over 1,000 local SME business owners and IT decision makers.

Singapore SMEs: Are You Ready for a Digital Future?

CURRENT STATE OF SME DIGITAL TRANSFORMATION IN SINGAPORE

of SMEs are aware of Digital Transformation

57%of SMEs have adopted Digital Transformation

1 in 4 SMEs see their Digital Transformation efforts as relatively successful

56%

LOCAL SMEs SAY THAT DIGITAL TRANSFORMATION WILL ALLOW THEM TO ENJOY…

in average projected

cost savings

22%in average projected

revenue gains

26%

Improving business operations efficiency

Attract new customers

4 PILLARS OFDIGITAL TRANSFORMATION ARE PRIORITISED ALMOST EQUALLY

BENEFITS OF ADOPTING DIGITAL TRANSFORMATION

PREFERRED DIGITAL TRANSFORMATION PARTNER

ENABLING DIGITAL TRANSFORMATION

TOP TECHNOLOGY SOLUTIONS SMEs PLAN TO ADOPT

Big data & advanced analytics

Artificial intelligence/

machine learning

E-commerce platforms

Business process apps

1

2 Increase workforce efficiency 3 Cost

savings 3

Perceived high cost

Difficult to integrate

BARRIERS TODIGITAL TRANSFORMATION

1

2 Nourgency3 Lack of digitally-skilled

workforce4

Around 1 in 2 SMEs are already leveraging Microsoft technology. In Singapore, Microsoft works with over 2,200 partners, who are building solutions for SMEs and other organisations across various industries.

To learn more about how Microsoft is enabling digital transformation successfor small businesses, please visit: https://www.microsoft.com/en-sg/smb

The ASME-Microsoft SME Digital Transformation Study polled 1,057 SME business decision makers in Singapore to understand their digital transformation journey.

Respondents are Singapore SME owners or key decision makers involved in shaping their organisations’ digital strategy across different sectors: 38% Key Decision Maker, 36% Joint Decision Maker, 25% Key Influencer.

SMEs in Singapore defined as companies that are registered and operating in Singapore, have at least 30% local shareholding AND group annual sales turnover of less that S$100m OR employment size of not more than 200 workers.

Technology vendors

Government agencies

Informal sources and word-of-mouth

ABOUT THE STUDY

#1 #2 #3 #4

73%

Engage customers

73%

Optimiseoperations

70%

Transformproducts

67%

Empoweremployees