March 25, 2023


Innovation Leader

Singapore boasts top business tech adoption rate in Asia

Max Loh (EY, CPA Australia)

Max Loh (EY, CPA Australia)

Credit: Supplied

As if the local channel needed more proof that Singapore was a top market for IT adoption, a new study has found that Singaporean businesses were more likely to adopt technologies and develop a long-term technology strategy than their Asian region counterparts over the past year.

This is according to a survey by professional accounting body CPA Australia, which surveyed professionals across industries in Australia, mainland China, Hong Kong, Macau, Malaysia and Singapore, asking respondents about the past and expected technology use of their respective businesses.

Not only did the survey reveal that Singapore claimed a higher proportion of businesses that adopted new technologies over the past year than other countries in the region, it also revealed that, over the coming year, around 70 per cent of high growth businesses in Singapore plan to invest in data analytics and visualisation software.

The findings also suggested that Singapore’s businesses were the most likely to invest in robotic process automation (RPA), while just over half of surveyed businesses in the city-state plan to put money in business intelligence software.

“Technologies such as data analytics and RPA allow employees to deliver greater value to the organisation and their customers,” said Max Loh, managing partner for EY, Singapore and Brunei, and Singapore divisional president at CPA Australia. “This enables them to stand out in a competitive and uncertain business environment.”