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Raising SME productivity: when push comes to shove

SMEs have little choice but to leverage technology to boost productivity as they face a difficult business environment and severe manpower crunch

Mr Lim: “The use of emerging technologies such as artificial intelligence and data analytics will go a long way in boosting SMEs’ productivity. Other areas for SMEs to focus on include website and app development, social media, cloud computing, big data, automation and e-commerce.”

Ms Chew: “Adopting technology is an ongoing journey, be it for productivity, automation or innovation. SMEs can subscribe to shared technology platforms, pool resources, or look to outsourcing to automate. They need not go through this journey alone.”

Ms Chu: “There will be short-term pain for SMEs that are currently reliant on foreign manpower. They will have to shift their priorities and start making immediate plans to introduce more digital solutions. We see more F&B players working with platform providers for self-service ordering and payment solutions.”

WITH a stiff labour market and the challenging business environment expected to persist, Singapore's small and medium-sized enterprises (SMEs) increasingly have no choice but to lean more on technology to drive productivity and sustain growth.

The government appeared to give companies...

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