Are cutting edge technologies relevant to SMEs?
We all heard about latest tech buzz words like Cloud Computing, Robotics Process Automation (RPA), Digitalisation, Big Data, Internet of Things (IoT) etc. As we are speaking, all these new technologies are pushing the frontiers and sweeping over the world like a tsunami. News of major corporate adopting various technologies flooded the news media. What relevance are all these to SME business owners? It’s always easier to sweep it under the carpet and say all these are expensi
Improving governance doesn’t mean creating cumbersome processes
With the increase regulatory surveillance in banking, medical, biotech etc., many corporate are allocating larger budget for governance related projects. The project outcome is often dismay, with complicated processes resulting in slow decision making, higher operating costs and sub-optimal customer engagement. Consequences are frustrated staff, angry customers and higher costs. To avoid creating a giant mammoth of processes for the sake of “better governance”, here are some
3 Common Misconceptions of Productivity Improvement for Small Businesses
Start-ups and small businesses are lean in resources and have many priorities to balance. Most often, sales take the top priority leaving production, operations and back-office administration to play the catch-up game. The small team often puts in long hours to meet business obligations to customers. Inefficiencies can cost 20 to 30% of revenue each year. However, many small businesses are apprehensive about taking the bold step towards improving productivity. Why is this so?
