The COVID-19 pandemic caught the entire world by an immense spiteful surprise. Minimize movement, safe distancing and other challenges became the major struggle for the entire global economy to sustain the business continuity. There are companies that are digitally equip, others bemused at first but was able to cope up, while there are some that grumbled and surrendered to the situation.
The drastic change brought by the corona virus pandemic alter the business world radically. More and more businesses in Singapore are taking major leap towards digitalization. Singapore Digital Transformation Roadmap has been very useful as businesses are force to change pace. The effort to accelerate business by using available technology is making way on Singapore Digital Journey as well as the determination on looking for opportunities that can help business process.
Digitalization becomes a necessary capability for businesses. In Singapore, the pandemic prompts a large percentage increase in firms that start digital transformation. The small and medium sized enterprise (SME) are greatly affected but they endure the struggle to keep afloat. Joining online platforms and strengthening digital marketing is becoming their backbone. Sales and logistics are the common struggle of SMEs but with the help of online applications, they are resolving it.
As businesses are forced to change, SMEs’ can have an advantage by intensifying promotions through online channels. Retailers sign up and use online selling platforms like Amazon, Lazada, Shopee and Qoo10. Food and beverage establishment also taken up the food delivery services like Foodpanda, Grabfood and Deliveroo. Many shopping malls, department stores, restaurants and other vendors are closed in the entire country. People are either unable or less willing to leave their homes. Many consumers have been leaning towards online shopping and food ordering instead.
The experience of the corona virus pandemic accelerated the adoption of digital solutions. Digital transformation optimizes company processes and diversify sales channel while making businesses more efficient and safe by working remotely. It enables businesses to remain competitive and increase customer satisfaction. The vast movement to digitalization become obligatory for businesses to remain afloat and survive the global pandemic.