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    SMEs in Thailand’s first Smart Business Transformation Programme by UOB (Thai) and The FinLab see positive impact from digital transformation

    Results show operational efficiency, lower costs and innovation mindset change  

    The 15 small-and medium-sized enterprises (SMEs) participated in Thailand’s first Smart Business Transformation Programme run by United Overseas Bank (Thai) Public Company Limited (UOB Thai) and The FinLab reaped positive results from digital transformation. The SMEs piloted digital solutions that have helped to increase business efficiency, to reduce costs, to build a digital mindset and to facilitate their regional expansion.

    The three-month Smart Business Transformation Programme was launched in Thailand in May following the success of the Singapore programme. The programme was run by The FinLab, in collaboration with the Digital Economy Promotion Agency (depa), National Science and Technology Development Agency (NSTDA) and the Office of SMEs Promotion (OSMEP).

    During the programme, the SMEs reviewed their business models, identified opportunities for improvement and mapped out long-term digital transformation strategies. They were then equipped with digital tools and matched with specially-chosen technology solution providers to pilot digital solutions to address their various business challenges.

    According to an online survey conducted by The FinLab[1], SMEs in Thailand said their top two business growth strategies are entering new markets (54 per cent) and using digital marketing to grow sales                   (51 per cent).

    The SMEs of the Smart Business Transformation programme shared that their digital solutions improved efficiency and customer engagement through business process optimisation, increased sales from using digital marketing tools and reduced operational and marketing cost. They also saw a change in the mind-set of the business owners, key decision makers and across their organisations, to embrace digital transformation. In addition, the SMEs were more inspired to expand their businesses beyond Thailand.

    Ms Piyaporn Ratanaprasartporn, Executive Director and Country Head of Channels and Digitalisation, UOB (Thai), said, “We are committed to helping Thai SMEs innovate and transform digitally. Through the Smart Business Transformation Programme in partnership with The FinLab, depa, NSTDA and OSMEP, we have equipped the SMEs with the digital skills and tools they need to grow efficiently and to stay relevant in the digital economy. Tapping UOB Group’s established and integrated network, we will also be able to help these SMEs grow further by connecting them to business opportunities across the region.” 

    Mr Felix Tan, Co-Head, The FinLab, said, “We are proud of all 15 SMEs in our first Smart Business Transformation Programme in Thailand. Their drive and desire to transform their business continue even after graduating from the programme. Many of them are implementing the technology solutions that they piloted as they have seen positive results, from increases in sales and leads generated to productivity gains through business process optimisation. Together with our partners UOB (Thai), depa, NSTDA and OSMEP, we will continue to support these SMEs in their digital transformation and to help them take their businesses to the next level.”

    One of the SMEs that completed the programme is Warrix, the official kit sponsor for the Thailand National Football Team. Warrix is working with two technology solution providers – Boostorder and Anchanto – to build an online business-to-business-to-consumer platform for small retailers to sell their products.

    Mr Wisan Wanasaksrisakul, Chief Executive Officer, Warrix, said, “As a wholesaler and retailer of sports apparel, we aim to make Warrix a household name across Southeast Asia. The Smart Business Transformation Programme has helped us to develop a structured approach to managing and to scaling our business, which has enabled us to meet our monthly online sales growth target of 270 per cent. This was just three months after implementation and we expect our sales to reach 400 per cent by the year’s end. With a more efficient and optimised sales process and platform, we are now more confident to plan for our business expansion to other countries. Our first stop will be Indonesia where we believe we will be able to benefit from UOB’s strong local presence there.”

    Nappi Baby, which practices sustainable harvesting of bamboo to produce a full range of baby products made with bamboo fibre, is another graduate of the programme. Nappi Baby has piloted three technology solutions – UOB BizSmart, Offeo and Zaviago – with the aim to grow their business through stronger online marketing and branding.

    Ms Narisa Israngkura Na Adyudhya, Managing Director, Nappi Baby, said, “One of the key challenges we face is building a stronger brand for our products amid increased competition in the market. Through the Smart Business Transformation Programme, we can run better online marketing campaigns and adopt digital marketing solutions to grow our brand. For example, we are using Offeo to create engaging videos of our baby products on social media, which have enabled us to increase customer engagement by 20 per cent. More importantly, our employees are now ready and understand why we have to adapt and to adopt technology solutions if we want to scale our business in other countries. We also aspire and are more confident to enter new markets such as China, where we see great market opportunities. China is one of the most challenging markets due to factors such as the different language and distinct social media platform. However with connections and advice from UOB and The FinLab, as well as our improved business model, we are confident that we are able to navigate the market better.”

    19th November 2019
    For More information, please contact
    Strategic Communications and Customer Advocacy
    United Overseas Bank (Thai) Pcl.
    Nida Puwanich Tel. 0-2343-4963