This is why the digital economy could help Singapore stay ahead

Apr 24, 2017

This is why the digital economy could help Singapore stay ahead

IN Singapore, trying on a wedding dress could be a digital experience. In one bridal boutique, an augmented reality mirror help brides-to-be perceive what they would look like in a bridal gown, without having to physically try the gown on.

How a bride looks on her wedding day is important to her. Yet, these brides-to-be are forgoing the tactile feel of trying on wedding gowns and how it would look on them - for a virtual visualisation. But it makes finding the right dress easier and quicker.

It is little wonder then that an online survey conducted last year, which focused on Singapore’s digital engagement, found that the country is viewed as more digitally advanced when compared to other developed nations. (1)

The EY report ‘Savvy Singapore: Decoding a Digital Nation’, also found that 59 per cent of those surveyed give the government of Singapore the tick of approval in its use of technology to improve public services.

But as with small and medium-sized business elsewhere in the world, enterprises in Singapore can benefit manifold if they embrace digital technology.

For instance, the use of the cloud could help a business with scalability while keeping costs down.

Digital technology enables entrepreneurs to get their products quicker to market if they make use of the Internet of Things.

An organisation’s costs could be kept lower when digital technology moves in and cuts down waste in terms of time and production.

Staff productivity could increase with digital technology.

Digital connectivity could give Singapore businesses the scope to stay ahead of the competition and easily reach out to the world to expand their market.

Singaporean politician and Minister in the Prime Minister’s Office, Chan Chun Sing, told the Today Online website: “Data allows us to transcend our resource limitations. Instead of the previous dependence on land, natural resources or people, we now have a new resource of data.”

He believes that few countries are as well placed as Singapore to seize the opportunities.

The minister noted Singapore’s ability to bring together government agencies, business, trade associations and the labour movement, plus the brand of Singapore as a trusted and reliable partner as reasons why the country could stay ahead.

As Singapore steams ahead as a digital nation, technology driven by the cloud plays a vital part in the transformation.

Adopting digital technologies like enterprise fax helps revitalise workplaces. Cloud technology enables digital enterprise fax solutions that boost productivity and reduce time wastage in the modern, paperless office.

(1) http://www.ey.com/sg/en/newsroom/news-releases/news-ey-savvy-singapore-decoding-a-digital-nation