Tapping into ecosystem key to Omni-Plus System's business transformation

TRANSFORMATION for Omni-Plus System Pte Ltd was never about taking the easy way out.

Instead, it was all about exploring the possible opportunities and learning from the different experiences along the way.

Established in 2002 with only two people, Omni-Plus has seen stellar growth through the years and has over 200 employees currently. It operates in a variety of industries, including consumer electronics, telecommunications and automotives.

The company designs and supplies raw materials to manufacturers to be used in end products.

The secret to success for the winner of this year's Enterprise Transformation award lies in embracing innovation and change.

This has helped the company to maintain an average growth rate of 20 per cent yearly, including last year when the pandemic hit.

The year 2020 was a challenging year, but Omni-Plus System was able to handle the pandemic better than expected.

It had a two-way response to the pandemic.

First, it immediately implemented remote work and coordinated workers efficiently across different regions.

Second, to seize growth opportunities, it initiated a strategic repositioning of the company in areas including investing in human capital, digital transformation and making strategic investments to prepare for business scale-up.

"Based on past experiences of Sars and the Lehman Brothers financial crisis, we recognised the need to control and conserve cash, while seeking funding at the same time," said Neo Puay Keong, chief executive officer of Omni-Plus System.

Besides reaching out to government initiatives that support local small and medium-sized enterprises (SMEs), Omni-Plus recognises the need to always be in touch with the ecosystem in which it operates.

"Singapore has a very good ecosystem . . . where not only do we attract the institutes of higher learning (IHL) to innovate and create, but also bring in the MNCs to set up R&D here to innovate. So this forms a very good ecosystem for us to tap into," Mr Neo explained.

Having a deep presence in the ecosystem led to Omni-Plus working together with Enterprise Singapore, and the Agency for Science, Technology and Research (A*Star) in 2018 to set up an engineering centre within the company premises. This engineering centre facilitates the research and design process for product formulation.

Omni-Plus's business model is hard to replicate. By ensuring that the company is plugged into all parts of the ecosystem, it has managed to emerge at the forefront of industrial and consumer product development.

"We are able to get involved in the innovation process; should there be limitations in terms of technology or resources, we can seek the support of our partners, IHL or A*Star," Mr Neo added.

Although Covid-19 disrupted manufacturing aspects of its business, the company attributes its successful ability to emerge from Covid-19 to always prioritising its understanding of the industry and customers.

UNDERSTAND NEEDS

"We need to understand the needs of the customers and of the industry," explained Mr Neo.

"When you design a mobile phone charger, what is the regulatory requirement, what is your application requirement, and then what is the material.

"Then we drill down to what is the material you want. Do they have it in the market? If not we can help to develop with our R&D lab, A*Star or IHL a formulation specific to this," added Mr Neo, who believes that adopting a user-centric approach is key to creating the best product possible.

Mr Neo stressed firmly that transformation is a journey, and companies must constantly adapt. Even more so for an SME like Omni-Plus System that wants to move to the next level, transformation is vital to take on the barriers of entry that will only increase as it moves forward.

"Transformation is a big project. That is why we prioritise three areas of interest that are key for our business: cash management, order fulfilment, and process and manufacturing efficiency," he said.

With the basic objectives secure, the company is now a step ahead; and working on embracing sustainable transformation within its company.

Omni-Plus System's new manufacturing plant in Malaysia is testament to its commitment to sustainable innovation.

While currently an ongoing project, the plant is expected to expand into a new facility approximately five times its current operating capacity. Omni-Plus aims to reach this by the end of 2022.

"Our team is looking at how to implement process controls, to control our resources such as energy and water and installing solar panels to enhance sustainability and reducing carbon footprint," Mr Neo said.