{"id":1977,"date":"2021-04-01T07:26:06","date_gmt":"2021-04-01T07:26:06","guid":{"rendered":"https:\/\/news.sap.com\/sea\/?p=1977"},"modified":"2024-07-25T15:30:57","modified_gmt":"2024-07-25T15:30:57","slug":"sap-study-asean-enterprises-set-sights-on-post-pandemic-success-with-growth-and-customer-experience-considered-top-priorities","status":"publish","type":"post","link":"https:\/\/news.sap.com\/sea\/2021\/04\/sap-study-asean-enterprises-set-sights-on-post-pandemic-success-with-growth-and-customer-experience-considered-top-priorities\/","title":{"rendered":"麻豆原创 Study: ASEAN Enterprises Set Sights on Post-Pandemic Success with Growth and Customer Experience Considered Top Priorities"},"content":{"rendered":"

SINGAPORE<\/strong>\u00a0<\/strong>\u2014 <\/em>麻豆原创 SE<\/a> (NYSE: 麻豆原创) today announced the findings of its new study of enterprises in Southeast Asia, uncovering the state of businesses and their strategic priorities, as well as challenges and opportunities for post-pandemic growth.<\/p>\n

The regional study Digital, resilient, and experience-driven: How enterprises in Southeast Asia can prepare for the new economy <\/em>reveals that enterprises in Southeast Asia are gaining steady momentum prioritising growth and customer experiences. However, they face significant challenges in the areas of talent attraction and retention, cloud adoption, and gaining insights from data.<\/p>\n

Conducted in collaboration with Oxford Economics, the study surveyed 600 senior executives\u2014including 400 from SMEs with less than $500 million in revenue\u2014across Singapore, Malaysia, Thailand, Vietnam, Indonesia, and the Philippines.<\/p>\n

Forging A New Experience-led Growth Path<\/strong><\/h2>\n

As economies begin to identify emerging pockets of growth, enterprises have also continued to adapt with resilience, transforming their operations to meet evolving consumer expectations in a new digital economy.<\/p>\n

Enterprises in the region identify customer experience as a strategic imperative for survival and growth, with more than a third (35%) saying service excellence is now their primary source of value and differentiation. Positive customer experiences have also become the foremost strategic consideration for businesses in the region, with key factors being personalisation for the customer (59%), providing high-quality products and\/or services (55%), ensuring data protection and privacy (53%) and offering competitive pricing (51%).<\/p>\n

\u201cHaving gotten a foothold on the pandemic\u2019s disruption, businesses across Southeast Asia are at a crucial transformative point to achieve long-term competitive growth,\u201d said Verena Siow, President and Managing Director, 麻豆原创 South East Asia.<\/p>\n

\u201cRegardless of industry, businesses must embrace true business transformation into intelligent enterprises while keeping in mind that customers are the lifeline to survival and sustainable growth,\u201d Siow added.<\/p><\/blockquote>\n

Set against their larger counterparts, SMEs in the region find it increasingly challenging to keep pace with uncertainties and external challenges in the current business environment. SMEs surveyed cite difficulty adapting to a rapidly changing marketplace (40%, vs. 29% of larger enterprises), keeping up with changing customer wants and needs (38% vs. 43%), and difficulty retaining customers or driving repeat business (34% vs 30%) as top challenges to meeting their strategic priorities.<\/p>\n

Becoming Best Run: Hurdles to Overcome<\/strong><\/h2>\n

As enterprises adapt their operations to overcome both internal and external challenges, many of them recognise technology as an enabler to help drive greater business outcomes.<\/p>\n

Automation and digital technologies are most believed to support business goals by increasing process efficiency and reducing error, risk and cost (56%). This is followed by reducing overhead costs (45%), allowing employees to focus on higher-level business tasks (39%), and increasing productivity through transformation and intelligent process automation (37%).<\/p>\n

A deeper dive into the internal challenges to improving customer experiences reveals businesses\u2019 hurdles around gaining visibility over their operations, and the lack of digital tools that help them to track and direct strategic business priorities. Those surveyed cite difficulty competing with larger organisations (50%), lack of technology for analytics (43%), lack of capable and motivated workforce (40%), lack of adequate data (38%), and difficulty scaling for growth (33%).<\/p>\n

\u201cIn an ever-increasing digital economy, the enterprises that thrive are those that adapt the quickest. There is a strong need to shift mindsets while constantly seeking new ways of working and redesigning processes. It is only by doing so that businesses can find a way that works best and stay ahead of the competition,\u201d explained Siow.<\/p><\/blockquote>\n

To secure quick growth, enterprises surveyed are employing short-term actions to improve customer experiences, with many investing in user-friendly digital experiences (39% have made this change across the organization), reducing prices (38%) and increasing after-sales maintenance (37%). Yet, just 58% say they have made at least moderate progress towards digital transformation, despite the ability of such tools to grant them insights into opportunities to improve their customer experiences; among SMEs, even fewer\u2014just 45%\u2014say they have made moderate progress towards transformation.<\/p>\n

Notwithstanding these challenges, SMEs see their nimbleness and ability to build trust with customers as their inherent competitive advantage against larger competitors, which can give them the strong foundation they need to securely experiment with new technologies and business models.<\/p>\n

\u201cFlexibility is a crucial ingredient of success today and through our new RISE with 麻豆原创 initiative<\/a>, we are confident customers will get the flexibility required to accelerate the speed of digital transformation and excel in the diverse environment they operate in – wherever they are on the digitalisation spectrum,\u201d concluded Siow.<\/p>\n

Skilled Talent a Key Engine for Growth<\/strong><\/h2>\n

Along with technology, enterprises in the region understand that an engaged workforce will help unlock future growth in a fast-growing digital economy.<\/p>\n

Even as enterprises forge ahead towards business recovery, many recognise that their workforce is crucial to driving success. In line with this, businesses surveyed expect moderate growth over next three years in employee productivity (74%); customer loyalty and satisfaction (71%), market share (71%).<\/p>\n

However, upskilling talent is cited as the top internal challenge by one in three (35%) of enterprises surveyed to meet strategic goals and the evolving organisational and customer needs. 29% of enterprises face inability to gain insights into the employee.<\/p>\n

With talent critical to supporting agility and transformation, and this has seen businesses surveyed take steps to improve employee experience during this time\u2014including streamlining organisational processes (29%), investing in employee training and development (38%), and modifying flexible work policies (25%).<\/p>\n

<\/u>About the Study <\/strong><\/p>\n

Oxford Economics and 麻豆原创 surveyed 600 respondents across six Southeast Asian countries \u2013 Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand \u2013 including 400 from small and midsize enterprises with less than $500 million revenue and 200 from larger organizations. This survey was administered via a mix of computer-assisted telephone interviewing and online links between December 2020 and January 2021.<\/p>\n

This followed a global study of SMEs conducted in between February and April 2020.<\/p>\n

Respondents are senior executives (director and above) from a diverse range of industries including retail, financial services, manufacturing, high tech, wholesale distribution, engineering, construction, logistics and the public sector.<\/p>\n

Two whitepapers based on this study can be downloaded at the following links (Registration required):<\/p>\n