Standards enable better utilisation of resources and time savings (Part 1)
With rising expectations from consumers, customers and even the government, businesses in Singapore are facing pressure to up the ante in more ways than one. The pressures businesses face could be attributed to the evolution of the tech industry with many believing that the smart use of technology can eventually transform, empower and engage.
One way that could further cement Singapore’s shining reputation as one of the best places to do business is for the industry to collectively educate companies about the benefits of the adoption of Standards and eventually, drive the take-up rate of Standards.
As Singapore strives to become one of the world’s first Smart Nation, the need for standards is crucial for both the public and private sector to create a common framework to establish good practices and encourage innovation.
Understanding the need for Standards
But in the first place, what exactly is preventing businesses, SMEs especially, from even considering Standards adoption? There are misconceptions which have to do with the perception that Standards are only for MNCs since they have the luxury of time and budgets.
“There has always been the fear by SMEs that they do not have internal resources to take up certain Standards and that Standards do not align with the company’s goal – to increase the company’s profitability,” said Michael Foo of SecureAX.
SecureAX, managed hosting provider with presence in Singapore and Thailand, relates to this fear because this had been their opinion in the past. Fortunately, with the SPRING Singapore grant, the barriers of entry to Standards adoption were lowered.
“We successfully adopted Standards and soon after that we saw significant growth in our top and bottom lines due to increased confidence from both new and existing customers. In fact, our achievement garnered recognition by Dr. Yaacob Ibrahim, Minister for Communications and Information and Minister-In-Charge of Cyber Security in his speech in the National Security Conference 2016,” shared Michael.
One of the many challenges faced by organisations is the topic of Information Security and this is not limited to information technology and financial firms. The first step in tackling information security threats is for all businesses, including brick-and-mortar business such as retail and manufacturing, is for them to acknowledge the relevance of Information Security.
From there, businesses will have to identify the right Standards and systems to protect themselves. However, this task can be confusing given the vast choices available with many businesses not necessarily having the IT literacy or internal resources to make a decision.
Organisations like SiTF, Singapore Business Federation (SBF) and SPRING hope to be able to help companies make more informed decisions. These organisations are working together to help ease businesses into the process. This is mainly done through education as well as making grants available such as the Capability Development Grant which supports enterprises to build business capabilities, ranging from raising service standards, adopting technology to staff training and overseas expansion.
In the next issue, we shall explore how standards will become vital in helping businesses stay sustainable.
Contributed by Arcis Communications
SiTF PR Agency
Published on 16 Nov 2017