#MYBaikHati | Donate pre-loved devices for digital learning needs of B40 families! Read more

#MYBaikHati | Donate your pre-loved devices! Read

here

Enable Maxis VoLTE to experience lifelike call quality! For detailed steps and info, click

Experience lifelike call quality with VoLTE! Click

here.

SMEs and Digitalisation: ‘There’s no time like the present’

Bylined by Kevin Lee, Head of SME, Maxis

How often have you heard the age-old saying “If it ain’t broke, don’t fix it?” Essentially, what it means is that when a person recognises that something is in a satisfactory state, there is no reason to try to change it. But while I can appreciate that there is some truth to this saying, it certainly isn’t universally true all the time.

And it certainly isn’t true for businesses today. Why?

Simply put, the world has evolved dramatically in the past three decades thanks to the borderless nature of global trade, the evolution of the Internet, and the pace of technological developments. Global trade means local businesses not only compete in their respective markets but have to fend off regional players offering the same goods and services.

Fueling this is the Internet economy. In Southeast Asia, the Internet economy reached $72 billion (RM303.7 billion) in 2018 and is anticipated to exceed $240 billion (RM1.01 trillion) by 2025. In Malaysia alone, it was valued at $8 billion (RM33.7 billion) last year and is expected to almost triple to $21 billion (RM88 billion) by 2025. Meanwhile technology developments – measured by Moore’s Law that states that the overall processing power for computers will double every two years – may already be dead.

What does this all mean to businesses, particularly small and medium enterprises (SMEs)? Well, for starters, it means that they can no longer afford to have the aforementioned age-old mindset.

They need to realise that they cannot keep doing the things they’ve been doing the way they’ve been doing them and not embrace change. For the reasons already highlighted, SMEs are required to do more with less while focusing on both sales growth and profitability. They can achieve this by turning to a wide range of digital technologies that can transform their businesses, provide new revenue and value-enhancement opportunities for them to future-proof their business for years to come.

What Can SMEs Turn To?

What are some of these digital technologies? We begin by considering connectivity as it’s the lifeline of every business. Be it connecting with customers, clients, colleagues, suppliers, or partners, connectivity is of paramount importance.

But when we talk about connectivity, we aren't just talking about disparate systems being cobbled together to comprise corporate mobile lines, fixed-line options, and some basic office networking connectivity.

To capitalise on the true power of today’s connectivity, an SME must embrace cloud based converged communication. This is the ability to integrate fixed, mobile and computer networking communications so that SMEs can remain connected with their customers and stakeholders, anywhere, anytime on the move and be productive and efficient while doing so. You can now answer your office fixed line number on your mobile devices so you don’t miss any business opportunities. You can also access all your business documents and proposals on your mobile devices when you travel. A converged communication implementation also means that there is a single point of contact and service provider for any troubleshooting and billing, which further simplifies operational issues for the SME.

Once an SME has a best-in-class cloud based converged communication platform in place, it can build other value-added services on top of it. These include digital workforce operations, enterprise mobile applications, digital payments, e-commerce, digital marketing and rich content to name a few.

For an SME that has a large sales or field force, a digital workforce operation platform can be deployed. Managers can assign real-time tasks and monitor the workflow with status updates. With GPS capabilities, they can track employees’ locations remotely and use geo-fencing for alerts. Time and location stamps will give employers better visibility of staff attendance and verification of their locations throughout the working day.

Having such a platform not only improves efficiency but also reduces errors as data recording is no longer done on paper. Using digital forms reduces errors, cuts down on the time spent on data entry and stationery costs. All data would be stored in the cloud, enabling all employees to conveniently access important documents on any device, be it on their mobile phones from a café, or on their desktops in the office.

A converged communication platform also boosts business opportunities. Because communication is integrated together, an SME would never have to miss an opportunity to talk to customers, remotely and on the go. All calls and corporate data are synced, tapped from the cloud and accessed via enterprise mobile applications which makes ‘work’ no longer a destination but rather an activity that they experience from wherever they are.

But perhaps the most important advantage of cloud adoption is the ability to digitalise important business data and to analyse and understand them. By making sense of this data, an SME retailer for example, will be able to learn more about its customers, discover pain points in its business systems and address and resolve those pain points.

Furthermore, an SME retailer can gain insights to buying habits, customer preferences, seasonal trends and design campaigns to elicit repeated sales from existing customers. It can even use the data to make recommendations, even those who customers aren’t aware of, and reach out to them with new sales. This will not only improve the retailers’ sales but also enhance customer experience and an SME’s brand value.

You Can Act Now

We began by considering the saying “If it ain’t broke, don’t fix it,” and argued that it isn’t universally true. Instead of adhering to this saying, I’d like to suggest another: “There is no time like the present.”

In truth, an SME shouldn’t fear embracing digitalisation, the process of modernising its business by adding digital technology and new business models to it. Although the journey may seem daunting for an SME, it should embrace digitalisation if it doesn’t want to risk being left behind.

So, what’s stopping you from moving forward and acting today? 

Archives
Tags

Popular
Posts

Celcom, Digi, Maxis sign definitive agreement to collaborate on fibre to base station for faster roll out to consumers

Celcom, Digi, Maxis sign definitive agreement to collaborate on fibre to base station for faster roll out to consumers

Celcom Axiata Bhd (“Celcom”), Digi Telecommunications Sdn Bhd (“Digi”), and Maxis Berhad (“Maxis”) announced that they have concluded a Definitive Agreement to jointly develop and share fibre infrastructure, allowing for faster and more efficient deployment of fibre backhaul to base stations and avoiding duplication of fibre infrastructure in the country. This collaboration will enable improved widespread of 4G connectivity to all Malaysians and increase the country’s fibre infrastructure in line with ambitions under the National Digital Infrastructure Plan (JENDELA), as well as preparing for tower infrastructure for a 5G future.

TELL ME MORE
Maxis and Team Secret renew collaboration to #BikinSampaiJadi, empowering a new generation of world-class gamers in Malaysia

Maxis and Team Secret renew collaboration to #BikinSampaiJadi, empowering a new generation of world-class gamers in Malaysia

In the past few years, eSports has grown to become a global phenomenon with more and more Malaysian gamers showing their skills on the international stage. Committed to supporting homegrown talent, Maxis and Team Secret PUBG Mobile Team have announced their continued partnership with the theme #BikinSampaiJadi, and a shared objective to inspire the next generation of gamers with Maxis as the preferred network.

TELL ME MORE
Maxis announces Chairman transition

Maxis announces Chairman transition

Maxis today announced that Raja Tan Sri Dato’ Seri Arshad bin Raja Tun Uda has decided to step down as Chairman of the Board of Maxis Berhad (Maxis) effective 22 April 2021, upon conclusion of the Company’s Annual General Meeting (AGM). Raja Tan Sri Arshad served as Chairman of Maxis since its listing on Bursa Malaysia in 2009.

TELL ME MORE