Southeast Asian small and medium-sized enterprises (SMEs) plan to spend an additional US$130 billion to digitalize their business activities over the next three years, according to a recent white paper by TDCX. This is a substantial increase from US$78 billion on digitalization initiatives in the past three years.
The Singapore-headquartered business process outsourcing firm surveyed 750 SMEs across the city-state, Malaysia, Thailand, Indonesia, and Vietnam. Priorities for future investments were given to product and service innovation, offline-to-online transformation, and business process improvement.
The ASEAN region is home to over 70 million SMEs, representing 97% of all enterprises, the report estimates.
Overall, 76% of ASEAN SMEs are still in the early stages of their digitalization journey. However, the situation presents an opportunity for B2B tech providers.
To read more, click HERE.