Computing improves productivity for small and medium-sized businesses (SMBs), according to Singapore findings of 2013 Global SMB IT Confidence Index by Symantec.
A survey of 100 SMBs in the nation indicates that companies with higher IT confidence scores are able to use IT in a better manner to boost their business and effectively compete with larger competitors.
Three-quarters of SMBs in Singapore using computing to drive their business has been effective in increasing market share.
One out of every two SMBs in the city agrees that advanced IT initiatives are worth the risk to achieve business goals.
“Computing is a double-edged sword for SMBs. While it could improve productivity and enable SMBs to compete with larger competitors, it also requires sophisticated management and poses major risks, such as disaster preparedness and security. This might put some SMBs off from harnessing IT to achieve their business goals,” said Tan Yuh Woei, country director for Singapore, Symantec.
Making security a business priority
Seventy-eight percent of top-tier SMBs in Singapore have made security a business priority. Over half of SMBs agree that their IT philosophies are influenced by their founders.
Top-tiers are more likely to invest in a high quality IT infrastructure and deploy advanced computing platforms as they see investing in innovative technologies worth the risk.
Sixty-seven percent of Singapore businesses said that using computing strategically to drive business forward was a somewhat to extremely effective way to increase market share.
Symantec says companies have to think like a founder to become as successful as highly ranked SMBs. Businesses should also consider long-term cost and value when evaluating IT solutions available in the market.
“The survey findings reveal that Singapore SMBs are finding it extremely important to drive a computing strategy that will help them reach their full potential,” added Woei. “In order for them to do so, they have to think like a founder of top-tier companies by investing in value, using IT strategically to address core business objectives, and keeping their IT house in order.”
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