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GEORGE TOWN: Digitalisation is the way forward for businesses as the world gradually recovers from the panic and pessimism of the Covid-19 pandemic.
Many businesses have embraced digitalisation to run and manage their concerns on a unified platform that is optimised to streamline processes and generate data quickly for better decision-making.
Many businesses, especially small and medium enterprises (SMEs), are now going digital and equipping themselves for fast expansion.
At the fourth The Star Outstanding Business Awards (SOBA) LAB, which was held at The Wembley, A St Giles Hotel, Penang last Thursday, participants were shown ways to further enhance their businesses as well as digitalisation efforts that can be used to up their game.
Two sessions were held in Mandarin on how businesses can scale up.
These were moderated by Wybrant Consultancy managing director Will Teh, who is also JCI Kulim local president.
Teh said businesses can leverage on digitalisation as it saves resources and time.,
“Business owners not only need to know about the systems or processes, but must also know the mindset and behaviour of users.
“Businesses must not only follow trends but take the time to identify key problems to know what is needed to resolve challenges.
“However, business owners should take one step at a time and build their confidence from there,” he said.
The first session examined how to “Improve business efficiency via digital finance transformation”.
The panel speakers included RHB Bank Bhd SME Banking head Yip How Nang, Great Ideals Group founder and chief executive officer (CEO), and also PUMM president, Tan Lay Seong and Big Academy Sdn Bhd managing director and JCI senator Alen Yeoh.
Yip said digital technology is being applied to almost every part of a company’s value chain, making it difficult for businesses to identify priorities.
“Many managers believe that digital transformation involves a radical disruption of the business, new investments in technology, a complete switch from physical to virtual channels and the acquisition of tech.
“We need to debunk these critical myths about digital transformation and better understand how to respond to current trends,” he said.,