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ASEAN Business Southeast Asia Technology Visions

Region’s SMEs Increase Digitalization Investments

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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.

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