8 out of 10 Philippine SMEs favor adoption of digital technology to improve business

HSBC Philippines
Philippine SME digital technology
Filipino SMEs are welcoming digital technology platforms in doing business. Photo from Epson.

Eight out of 10 Philippine small and medium scale enterprises (SMEs) favor the adoption of digital technology to improve business.

The Intuit Research survey results commissioned by Epson released on April 11, 2020, indicated more than eight out of 10 (86%) SMEs in the Philippines identified digital technology adoption as the way to improve business processes, especially customer experience.

The survey titled, “SMEs striving for Digital Transformation amidst many hurdles,” covered more than 800 SME decision-makers in the six largest Association of Southeast Asian Nations (ASEAN) countries by GDP.

Included in the survey are business owners, key decision-makers, decision influencers or senior managers within their respective organisations, which spanned the manufacturing, corporate, retail, food and beverage (F&B) and hospitality, engineering, architecture and textile sectors.

The Epson survey that included 154 respondents in the Philippines covered the following:

  • perspectives on technology adoption
  • maturity stage of digital transformation efforts
  • challenges facing SMEs

“This survey highlights the tremendous interest that SMEs in the Philippines have in using technology to improve business functions, especially in areas impacting the customer,” said Eduardo Bonoan, Epson Philippines General Manager for Marketing.

“Although SMEs in the country have generally begun to adopt digital technologies, more work is needed to help and encourage these companies to extend digital technologies further beyond customer-facing areas of the business,” added Bonoan.

The survey results indicate that 74% of Filipino respondent SMEs have gone into digital marketing and sales as well as customer interaction and servicing portions of their businesses.

Notable survey results among Filipino SMEs include:

  • In the retail, food, and beverage (F&B), and hospitality sectors 31 % of Filipino SMEs have used mobile projectors over interactive models. The mobile deployment is seen as useful in malls and other environments to attract and deliver a superior customer experience.
  • SMEs in the Philippines are also moving closer to tracking and making decisions based on information available in real-time. More than half (56%) of respondents reported being able to do this in the Philippines while another 51 percent noted that their organisation can make quick decisions across departments and business processes on most occasions – outpacing their regional counterparts.
  • Filipino SMEs are sensitive to environmental issues. When choosing a printing solution, over two thirds (76%) consider the impact on the environment, and 78 percent are mindful of the effect of heat and dust particles on the health of their staff.

“Fostering digital transformation today requires more than the adoption of new technologies. It means creating environments where businesses can leverage innovation to deliver meaningful change that drives positive business outcomes. With SMEs at the heart of the economy, they need to be empowered with the right tools to tackle the next steps towards being a sustainable business,” Bonoan added.

The current climate of enforced community quarantine in Luzon and other areas in the Philippines has highlighted the value of digital technology in continuing business and adapting new lifestyles while under lockdown.

The Work-from-home system was adopted by office workers even as freelancers were offered more job opportunities.

Even the Catholic Church had gone online for live streaming of the mass, online prayer requests, and other liturgical celebrations while kids have been getting online training from mentors.

SHARE in the comments below how your work environment has adopted digital technology during these lockdown times to stop the spread of COVID-19.

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Aurora Quadra-Balibay
Angie is a self-confessed reformed news critic who vows she has finally found infinite value in delivering the good news. She teaches students of all ages how to make the important interesting for audiences across media platforms.