According to the Asean SME Transformation Study, conducted by United Overseas Bank (UOB), EY and Dun and Bradstreet.
The survey found that 73 percent of Thai SMEs prioritized technology as their most significant investment over other investments comparable to factories and machinery.
In ASEAN, they were most positive in regards to the importance of technology, followed by Malaysia (65%) and Singapore (63%).
When selecting specific areas for technology investment, the highest alternative amongst Thai SMEs (82 percent) was software and services comparable to mobile apps or digital marketing to extend customer loyalty and higher meet their needs.
Investments in information and communication technology (ICT) equipment and networks got here second with 66%, and arranged ICT training programs for workers got here third with 53%.
Sayumrat Maranate, director of business banking at UOB Thailand, said: “The study shows that Thai SMEs recognize the necessary role that technology plays in improving their competitiveness and constructing sustainable businesses.
“This discovery strengthens the federal government’s plans to create a digital economy and e-commerce hub over the subsequent few years.
“To do business more effectively, Thai SMEs need to adopt an innovative mindset and embrace digital transformation. One way they can achieve this is by leveraging enterprise technology solutions that were primarily available to large enterprises but have now become widely available to SMEs in a cost-effective way. Such solutions cover areas from accounting tools and customer relationship management to data analysis and cybersecurity. With these solutions, SMEs can increase productivity, manage business costs, scale their operations and easily discover new revenue opportunities.”
Source : Nation
