Securing competitiveness of small and medium enterprises is fast becoming a critical agenda for Asian economies. According to one report, only 5.5% of SMEs in the Asia-Pacific Japan have gone beyond integration to drive business results, furthering the need for SMEs to invest on technology purchases that will enable them to create niches in the regional and global market.
To make this happen, foresight is needed. More than having tons of data, it’s about making those data speak to one another, so you can better map out future business direction and prepare for possible disruptions in the landscape.
What are the steps you need to take your business regionally and globally? What are the tools and technologies that will get you there? How will you get the funding, the necessary support?
Here are key insights for SMEs to build their strengths and expand across APJ:
- Use social media. You need to talk to your customers wherever they are, and one thing you can do to propel your business higher is through social media. A single post, once executed properly, can boost awareness of your business and lead customers down the marketing funnel.
- Opt for cloud-based strategies. With cloud-based solutions, you can automate your business processes without throwing out old data from your legacy systems. You can also focus more on high-impact services that require greater attention.
- Go digital for wider impact. APJ SMEs must fully harness the potential of digitisation, as they stand to be the next large enterprises in the region. With SMEs accounting for 97% of all businesses in the region, they become more critical to securing investor confidence in the ASEAN states.
Indeed, thinking of business expansion across APJ is no longer a fearsome venture, as businesses become nimbler and tech-savvy through digitisation. By leveraging on technology trends, SMEs can readily adapt to changing market conditions and take their growth even beyond the region.
Get a head start and fast-track your success in the region with the help of a powerful software solution like SAP Hybris.