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Technology has become essential for business growth in today’s fast-paced and competitive market. Gone are the days when only large corporations could benefit from advanced IT systems. Now, even small and medium-sized enterprises (SMEs) can leverage technology to grow, streamline operations, and stay ahead of the competition.
Beating out the US, UK, and even regional neighbours South Korea, Singapore was recently ranked 7th in the world in terms of overall information and communication technology (ICT) development. The results, as depicted in the UN’s International Telecommunication Union 2024 report, offered an empirical analysis of every nation’s level of universal and meaningful connectivity to help determine how well ICT has integrated into each country’s infrastructure.
For SMEs in Singapore, whether you're managing a small team or overseeing multiple projects, the right tools can make all the difference. With the vast array of digital tools available today, choosing the right ones can seem overwhelming.
The world of IT is advancing faster than ever, and SMEs in Singapore have a lot to keep up with. But it's not all about complexity—some of these trends are set to make your life a lot easier, helping you run your business more efficiently and stay ahead of the competition. Here, we break down expert predictions on the future of SME IT solutions into easy-to-digest pieces. Whether you're tech-savvy or just dipping your toes into the digital waters, this guide is for you.
In Singapore, the challenges of operating small-medium enterprises (SMEs) routinely come down to doing more with less. Often lacking the resources that their multi-national counterparts might have, SMEs have to get creative to compete on equal footing. While various government schemes exist to lend SMEs a helping hand, there are also measures that SMEs can take to help maximise their performance.
As the demand for technology grows, it’s increasingly essential for small and medium-sized enterprises (SMEs) to stay agile and informed to remain competitive. The evolution of technology presents both opportunities and challenges, making it crucial for businesses to keep up with the latest IT trends.
As the de-facto productivity enhancer, cloud solutions have become truly indispensable. Adopting the right crowd solutions in today’s business climate has become vital for businesses large and small, with a 2024 study stating that 94% of companies worldwide will utilise some sort of cloud platform as part of their operations on a day-to-day basis. This number has grown since 2020, when only 80% of companies leveraged cloud solutions as part of business workflows.
In line with Singapore’s Digital Enterprise Blueprint (DEB), the Infocomm Media Development Authority (IMDA) has recently launched two new solution categories under the Advanced Digital Solutions (ADS) scheme – Omnichannel Retail Management (OCRM) and Integrated Security Management (ISM). These two schemes are targeted at small and medium-sized enterprises (SMEs) from the retail and security industries and aim to equip SMEs with solutions to deepen their digital capabilities and build business resilience for growth in a digital economy.
Artificial Intelligence (AI) has become increasingly integrated with cybersecurity, both as a threat vector and a means for defence. This was the core message shared at the inaugural Singapore AI Security Summit held by the Association of Information Security Professionals (AiSP) on 3rd July 2024. Attended by stakeholders of the cybersecurity industry, the AI Security Summit served as a gathering of minds for members to discuss the future and outlook of Singapore’s cybersecurity environment in relation to AI.
Within these ads, however, lie wolves in sheeps’ clothing. Armed with nefarious intent, a rising trend of malvertising has emerged where cyber criminals spread malware through digital ads on reputable websites. These ads, which exploit the user’s trust in familiar brands, steal sensitive information by luring victims to deceitful websites and directing them to download malware disguised as harmless content.
In the early 1980s, the Open System Interconnection (OSI) model was devised to outline the seven layers of network communication. It served as the early model for network communications and paved the way for modern Transmission Control Protocol/Internet Protocol (TCP/IP) systems, which were developed in the 1970s and upon which the 21st-century Internet is founded. Within the OSI model, Layer 2 specifically refers to how data links are set up and defines the data format on each network.
In the latest addition to the concerning trend of local cyberattacks, well-known F&B brand Jumbo Group has reportedly fallen victim to a ransomware attack. This marks the second consecutive month a notable Singaporean company has been targeted by cyber criminals.
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