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IT investments are crucial for SMEs looking to keep up with rapid changes in technology and consumer expectations. From digital transformation initiatives to streamlining day-to-day operations, IT solutions can be a major competitive advantage for SMEs.
Cybersecurity has become a crucial concern for businesses of all sizes in Singapore and worldwide. However, small and medium-sized enterprises (SMEs) are often seen as particularly vulnerable to cyber threats.
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 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.
The advent of cloud computing has changed how we approach technology, offering unprecedented scalability, flexibility, and cost-efficiency. By providing on-demand access to computing resources via the internet, cloud services eliminate the need for businesses to handle physical resources themselves, reshaping the management of IT resources for businesses. In this article, we discover the three key types of cloud computing services that are transforming IT infrastructure management.
The Internet of Things (IoT) is a network that links physical devices embedded with sensors, software, and diverse technologies to collect and exchange data over the internet. It has reshaped our lifestyles and industries by opening up a new era of convenience and efficiency across our daily lives. Within the IoT ecosystem, a diverse array of objects and devices work to collect data to improve processes, operations, and quality of life. In this article, we delve into the profound impact of IoT solutions, exploring how they have revolutionised modern lifestyles.
On 7 May 2024, the Singapore Parliament passed a new bill to bolster the nation’s cybersecurity defences to account for new and evolving technological threats. Dubbed the “Cybersecurity (Amendment) Bill'', it outlines that owners of Critical Information Infrastructure (CII) are now required to report cybersecurity incidents, including those that happen within their supply chains.
On 7 May 2024, the Singapore Parliament passed a new bill to bolster the nation’s cybersecurity defences to account for new and evolving technological threats. Dubbed the “Cybersecurity (Amendment) Bill'', it outlines that owners of Critical Information Infrastructure (CII) are now required to report cybersecurity incidents, including those that happen within their supply chains.
International flights delayed, health services disrupted, and banking services frozen. This was the scene on 19th July as the world witnessed one of the worst global IT outages to date. Owing to a faulty software patch uploaded by security company CrowdStrike, global travel and businesses were faced with unprecedented disruptions as approximately 8.5 million computers across the world were rendered unusable by the infamous “Blue Screen of Death” booting error.
According to an October 2023 study, an estimated 94% of all companies globally use cloud software currently. The global mass adoption of cloud technologies was first noted during the COVID-19 pandemic and started as a way to maintain operational continuity during social distancing measures. Today, it’s become a proven way for businesses to generate growth. This pivot towards cloud-based services, driven by an abundance of fiscal and operational benefits, has seen cloud migration becoming the norm in everyday business.
OpenAI’s launch of Sora earlier this year marked a historic milestone in the advancement of artificial intelligence. Reminiscent of 90’s science fiction, Sora’s press release was accompanied by hyper-realistic videos that were indistinguishable from actual filmed footage. Unlike large-language AI models such as ChatGPT, generative AI models such as Sora and Midjourney exemplify the new wave of AI tools that promise to revolutionise the tech landscape.
Each year, businesses invest millions of dollars towards upgrading their cybersecurity defences to fend off cyberthreats. According to a recent Cybersecurity Drive report, cyber investments are projected to increase by 14% annually in 2024, with cybersecurity services accounting for the lion’s share at 42%. Despite the latest advancements and upgrades in cybersecurity technology, human vulnerabilities remain the foremost cybersecurity concern globally. Research and marketing firm Cyber Edge Group found that 82% of cyberattacks in 2023 exploited human weaknesses such as email phishing, in which cybercriminals can achieve entry points to access secure networks and hold businesses hostage with ransomware attacks.
Whether you’re a small-medium business struggling to gain a foothold in your industry or a burgeoning organisation geared for rapid expansion, the universal problem of profitability plagues every company regardless of size or industry. Two primary challenges – overhead costs and total cost of ownership for new assets, compel today's key decision-makers to make tough choices between efficiency and profitability. In response, third-party solutions have emerged as the optimal approach for businesses seeking to reduce overhead while establishing a cost-effective IT workforce.
The advent of artificial intelligence (AI) has sparked a rapid evolution in the landscape of cyber security and cyber defence. According to a recent report by the National Cyber Security Centre, AI has lowered the barrier for novice cyber criminals to carry out effective access and information gathering operations, which is likely to result in a global increase in ransomware attacks in the next two years.
Adapt or be left behind, Darwin's blanket approach to biological evolution draws similar parallels to businesses in the 21st century. As technology evolves, companies must learn to adopt and leverage these technological evolutions to come out on top and stay relevant. Businesses that fail to integrate new technologies might find themselves falling behind in the competitive landscape.
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