Singapore takes the wheel of data-driven technology

SINGAPORE, August 29, 2022 /PRNewswire/ — Companies from Singapore are most likely to Asia Pacific will use data analytics and visualization, cybersecurity and robotic process automation (RPA) over the next 12 months, according to a survey by global professional accountancy body CPA Australia.

Key Highlights of Singapore in the Business Technology Survey 2022 by CPA Australia

SingaporeBrussels-based companies are already the top users of RPA in the region, with 57% of local respondents saying their company has deployed RPA as a business tool.

The Business Technology Report 2022 surveyed 820 professionals from various industries in Singapore, Australia, New Zealand, continent China, hong kong, Malaysia and Vietnam. Respondents were asked about the adoption of technology in their workplace and its impact on business performance.

Division President of CPA Australia Singapore Max Lo stated that the adoption of technology by businesses in Singapore would pay dividends.

“New technologies are improving organizational efficiency by automating many mundane and high-volume tasks. This allows employees to focus on work that requires strategic thinking, such as engaging customers or creating more value for organizations and stakeholders,” Loh said.

More than 80% of respondents from Singapore said their company had a digital transformation strategy, above the survey average of 77%. About a third of respondents said their organization will begin or continue implementing a digital or technology transformation strategy in the next 12 months.

According to Loh, “Technology will play a central role in a changing future workplace. It is essential that companies invest in and fully embrace cutting-edge technologies to maintain their edge in a globally competitive marketplace.”

However, the survey reveals that many companies need external support to overcome barriers to digital transformation. High financial costs and low return on investment were a challenge for 37% of respondents, while 35% pointed to a shortage of tech talent.

About two-thirds of Singapore respondents said their company had worked with technology companies or vendors in the past year to complete their technology needs.

To address the talent shortage, respondents from larger companies were more likely to say they had outsourced their technology needs. Small business respondents up-skilled or re-skilled existing employees.

Chairman of CPA Australia’s Digital Committee and Head of Digital and Risk Management Services at PwC Singapore Greg Unsworth said tech talent would be in high demand as businesses become more digital.

“Data scientists and engineers, cybersecurity specialists and developers of all kinds will be in high demand. Given the current talent challenges, including the talent shortage that many are facing, it’s not just pragmatic, but it is also becoming increasingly vital for businesses to upskill or re-skill their current workforce and harness the ability to drive human- and technology-driven productivity, innovation and growth. said Unsworth.

Read it Enterprise Technology Report 2022

About CPA Australia

PCA Australia is one of the largest professional accountancy bodies in the world, with more than 170,000 members in more than 100 countries and regions, including more than 8,600 members in Singapore. PCA Australia worked in Singapore since 1954 and opened our Singapore office in 1989. Our core services include education, training, technical support and advocacy. PCA Australia provides thought leadership on local, national and international issues affecting the accountancy profession and the public interest. We work with governments, regulators and industries to advocate for policies that drive sustainable economic growth and have positive business and public outcomes. Learn more about cpaaustralia.com.au

CPA Australia logo (PRNewsfoto/CPA Australia)

CPA Australia logo (PRNewsfoto/CPA Australia)

SOURCE CPA Australia

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