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Greater adaptability to rapid industry transformation is driving cloud adoption in Singapore

Zafirah Salim | Oct. 31, 2014
The study cited four key factors that drive industry transformation in Singapore, namely digitalisation, new disruptive competitors, servitisation and new business models.

63 percent of SaaS users in Singapore surveyed indicated that the cloud has helped them respond more effectively to changing market conditions and 83 percent believe that they have gained competitive advantage, which is above the global average of 81 percent according to the study.

Besides lower costs, the main benefits achieved have been improved speed to market with new products or services (20 percent) and the ability to enter new global markets (20 percent).

According to the study, Singapore leads the Asia Pacific region for SaaS adoption, with 62 percent of organisations surveyed using it for at least one main business application, particularly CRM, ecommerce, finance and accounting, compared to 51 percent globally.

"Cloud is at a tipping point in Singapore," said Mark Troselj, managing director of APAC and Japan for NetSuite. "It is a highly developed economy and acceptance of cloud as a relevant business model is growing rapidly. The ability for businesses in this regional trading hub to run their supply chains through ERP systems over the cloud provides greater flexibility, speed and agility to move quickly with the market as it changes. Trading adaptability is essentially what Singapore was founded on."

 

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