Technology Transformation Should Directly Solve Business Challenges
It’s no secret that the Micro, Small, and Medium Enterprises (MSME) segment is a silent strength of almost all economies worldwide. For instance, according to the Department of Statistics Singapore, the state city is home to more than 300,000 SMEs, accounting for 99 percent of all enterprises in the country. Needless to say, SMEs are the backbone of the country’s economy.
But more often than not, MSMEs are underserved and unserved across parameters, including financial and technical assistance, especially considering the sector’s significant contribution toward GDP. This predicament creates huge challenges for business leaders, especially Technology officers. The increasing need to invest right in digital transformation, meeting employee expectations, and cyber security is combining to make life much more difficult for them.
However, the mindset of organizations and people towards digital transformation has transformed—thanks to the benefits ranging from business continuity to ease of working and collaboration capabilities. In the aftermath, CTOs must adapt their strategy to match the hybrid work culture. It brings enormous challenges. They must have a decisive understanding of technology, security, and digital transformation. The key to success is meticulously understanding their own businesses and challenges and having a strong grip on the latest technologies. These aspects are crucial to finding the right formula to tailor-make digital transformation solutions that not only solve customer challenges but also enhance their business outcomes.