Pursuing e-commerce excellence in South-east Asia and beyond
Olive Tai has steered Synagie Group Asia and Europe into a dominant position in the digital commerce space. BY FRANCIS KAN
IN her 10-year journey as an entrepreneur, Olive Tai, the co-founder and managing director of Synagie Group Asia and Europe, has transformed her company into an e-commerce powerhouse across multiple markets.
Synagie is an award-winning South-east Asian e-commerce enabler, powering digital commerce across all major channels and platforms in the region and Spain.
Founded in 2014, the company manages over 1,000 digital stores in Asean for 600 brand partners, and was the winner of the Lazada Regional Partner for Excellence for three years straight from 2021 to 2023.
Since 2020, Tai has led efforts to launch the group’s digital commerce management system and new retail models. She has also championed environmental sustainability, and provided support for women business owners. Recognising these achievements, Tai was crowned the EY Entrepreneur of the Year in the E-commerce Services category for 2023.
Tai attributes Synagie’s success to being ahead of the curve when it comes to anticipating its customers’ requirements. “Synagie is always on the cusp of market trends, first to anticipate and meet customer needs, a reliable, constant for our working partners and the industry, and we are also known for our pursuit of excellence,” she says.
Evolving business model
To sustain a profitable business, the company has evolved its business model over the years to adapt to changing conditions. “Today, Synagie has successfully moved from a 100 per cent outright purchase model when we first started to an almost 100 per cent consignment stock model, a bold move in the industry and an achievement other service providers can only dream about,” she reveals.
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The company has also successfully moved out of typically lower margin categories such as FMCG (fast-moving consumer goods) to compete in the high-growth and high-margin sectors of luxury beauty, fashion and small appliances.
Another cornerstone of Synagie’s success is its commitment to what Tai calls CARE (Collaboration, Agility, Resilience, and Excellence) values, which are in full display during the intense year-end sale seasons. This challenging period demands intricate coordination, quick problem-solving, unwavering resilience, and a commitment to quality, mirroring the CARE principles Synagie advocates.
To address the balance between rapid digital commerce growth and environmental sustainability, Synagie has rolled out eco-friendly initiatives such as sustainable packaging. However, Tai stresses that all its sustainability initiatives must translate into competitive advantages for the company and its brand partners.
For instance, when Synagie launched its eco-friendly packaging in May 2021, the company offered its brand partners the best options at subsidised costs during the adoption phase.
“These costs were well justified since we became the only digital commerce service provider in South-east Asia offering eco-friendly packaging, giving us the edge over competitors when it came to winning and retaining business,” Tai explains.
Staying ahead in digital commerce
Synagie has positioned itself for long-term success with the recent launch of its Digital Commerce Management (DCM) System, a comprehensive solution for managing all aspects of online businesses.
DCM stands out by integrating fundamental solutions with growth accelerators like business planning and customer engagement, and for mature businesses, additional capabilities for building sustainability. “Synagie’s DCM system empowers both Synagie and our brand partners to drive excellence and stay competitive in this ever-changing sophisticated online world, by allowing our people, partners, and planet to connect in a whole new, more effective and efficient way,” says Tai.
Looking ahead, Synagie is set to launch DCM+, developed in partnership with Fonixtree Digital, a subsidiary of global data intelligence technology company Whale Cloud. This suite of advanced commerce solutions leverages AI, IoT, AR/VR, Machine Learning, and Big Data to transform operations, marketing, customer service, and supply chain management.
Supporting working women
Tai’s influence extends beyond her work at Synagie. As a founding and executive committee member of the Singapore Women Entrepreneurs Network (SG-WEN) under the Singapore Business Federation (SBF), and an active participant in the SBF’s SME committee, she plays a role in shaping and mentoring young business leaders in Singapore.
“Through my own experience as well as conversations with working women through the years, there are a few things that we all seemed to wish we had more of – equal, fair opportunity, more flexibility to manage our time and ready access to resource, infrastructure and community,” says Tai.
The company’s commitment to gender balance is evident in its workforce composition and leadership roles. Women hold pivotal positions not only in functions like marketing and customer service, but also in the commercial and technological departments. For instance, Synagie’s head of logistics in Singapore and country leads in Malaysia, the Philippines, and Vietnam, are women.
Recognising the unique challenges faced by working mothers, Synagie maintains hybrid work arrangements that are especially beneficial for mothers with young children. Furthermore, its “Talent-on-Demand” programme offers part-time employment for qualified individuals who cannot commit to full-time jobs because of their circumstances. The initiative currently benefits 150 people across South-east Asia, primarily in the markets of the Philippines and Vietnam, 70 per cent of whom are women.
Says Tai: “Whether it is to help working women and mothers or sustainability, I know what I do now might not yet yield the immediate change in my lifetime, but I do hope, at the very least, that I have helped set the stage for a better, more positive and inclusive future for my daughters and their children to come.”
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