Get acquainted with new buzz words like Web 2.0 and Software-as-a-Service (SaaS). Discover what is relevant to you or even help uncover new business opportunities through adopting some of these new infocomm trends.
As we move into the digital age, where infocomm is dramatically transforming the way we work, live, learn and play, SMEs may find themselves inundated with technology information, trends and advancement. How do you break through the clutter, make sense of such knowledge, and meaningfully use infocomm to grow your business?
In this week's feature, we hope to shed some light on key business technology trends that are relevant to SMEs like yourself.
The advent of Web 2.0 has opened a totally new window to the online world. Today, Internet users are even more interconnected with each other through the Web 2.0 applications in their social interactions.
Gaining popularity among individuals are services, such as blogging, social bookmarking and podcasting.
On the business front, the development of technologies, such as Web 2.0 and Software-as-a-Service (SaaS) can impact businesses in how they create innovative ways in measuring customer responsiveness and tracking marketplace trends.
Web 2.0 uses the Internet as a platform for better interaction, information sharing and collaboration among users. Regardless of the industry, there are new ways you can leverage Web 2.0 technologies to spin off new business opportunities. For example, you may tap customer feedback to improve on an existing product or introduce innovations.
Once customers are actively involved in your product development process, they are more likely to remain loyal to your company.
You may also engage and keep in touch with customers via social media tools like blogs to market your products interactively via video and audio mail.
The concept of SaaS is increasingly gaining acceptance. Instead of owning software, businesses are participating in 'pay-as-you-use' plan by subscribing to the software applications hosted on the Internet. By eliminating the need to install and run the application on their computers, SaaS alleviates the business's burden of software maintenance and ongoing operation and support. You can tap such services to save costs and reduce manpower resources in developing and maintaining a more customised infocomm system.
Currently available in Japan, this voice-based instant-messaging system allows customers to shop by accepting and storing bar-coded discount coupons on handheld and mobile devices. This can change the way consumers use their mobile phones for communication purposes and open up many new business opportunities. Now, consumers can enjoy instant discount privileges while businesses can broadcast their offers very quickly, cutting down on the uploading time.
Ultimately, this generates more business for the company. While this innovation is still catching on, businesses especially SMEs, are already realising its market potential and commercial value.
Inventory systems supplemented with mobile devices allow your sales staff to check stocks, manage re-orders at various outlets and channels. With real-time inventory control, your business can reduce stock levels and lower costs associated with issues such as storage and over-supply.
While business newspapers and magazines are staples where you can look out for technology trends and prospects, the Internet offers you a wealth of information. However, search engines may sometimes throw up more information than you require, or direct you to a never-ending list of resources. In such instances, where you cannot make further sense of the information presented, you can try checking out specific technology reports provided by infocomm research and advisory agencies. Alternatively, you can access online databases (eDatabases) available from the public libraries.
Some relevant eDatabases are 'ProQuest computing', 'EBSCOHost business source complete' and 'Euromonitor global market information database'.
Once you have a better understanding of these emerging trends, you will be in a better position to make better decisions in implementing these technology tools for your business.
If you own a business, consider proactive ways to continually enrich yourselves by seeking out opportunities with the new infocomm knowledge. This will help your business stay competitive in today's fast-evolving world.
You can contact the various Chambers of Commerce and relevant government agencies for other useful infocomm resources. For example, the SME Infocomm Resource Centres (SIRCs), available at the Singapore Chinese Chamber of Commerce & Industry and the Singapore Polytechnic, are avenues of resource assistance for your business. These not-for-profit centres are supported by the Infocomm Development Authority of Singapore (IDA) under the Infocomm@SME Programme.
The Infocomm@SME programme aims to help SMEs see the value of infocomm and adopt it to their business. The various initiatives, such as SIRCs help support SMEs kickstart their infocomm journey to become more productive, grow their businesses and differentiate themselves in the marketplace.
Do you need help to learn the what, why and how-to of infocomm? SME Infocomm Resource Centres at the Singapore Chinese Chamber of Commerce & Industry (SIRC@SCCCI) and the Singapore Polytechnic (SIRC@SP) have been set up in a joint initiative with the Infocomm Development Authority to help small businesses gain technology insights. The centres will help SMEs adopt infocomm technology beneficial to their business. To find out what the SIRCs offer, go to these websites:
- This article first appeared in The Business Times on 2 September 2008 and information is correct at the time of publication.
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