Singapore takes lead in adopting business technology

725 professionals took part in CPA Australia’s survey.

In a survey conducted by CPA Australia, Singaporean businesses were more likely to adopt and develop long-term technology strategies.

This is compared to the 725 professionals surveyed in Australia, China, Hong Kong, Macau, Malaysia, and Singapore. Questions included the past and expected application of technology in their business, as well as the status of their financial performance.

The survey found that an estimated 70% of respondents had plans to invest in data analytics and visualisation software. Over half plan to put money in business intelligence software. Robotic process automation is also a likely area of investment for businesses. 

Max Loh, Singapore Divisional President at CPA Australia, said that these measures can help the businesses offer more to the organisation and their clients. 

“Technologies such as data analytics and RPA allow employees to deliver greater value to the organisation and their customers. This enables them to stand out in a competitive and uncertain business environment.”

On the other hand, Singapore businesses that didn’t grow over the past year showed limited resources to invest in technology and were overall less likely to undertake a technology project. Improving operational efficiency at 83.3%, enhancing customer experience at 47.5% and fostering collaboration among employees at 32.5% were some of the key drivers.