Digi chief business officer Eugene Teh, a panellist at the SOBA LAB’s Engine of Growth panel discussion, said a common hurdle is the mindset that technology adoption is costly, or that it is not the right time due to current market conditions.
“If they take it one step at a time, the journey is less harrowing. Find small projects that prove to you that technology helps save costs and creates value. Used correctly, it can help grow the business,” he said at the recent SOBA LAB PJ, held in Menara Star here. Cash flow crunch often happens when payment is delayed, which is why SMEs must constantly keep an eye on the financials to prepare for any eventuality that may occur, in order to stay the tide during yearly non-peak periods. Technology can play a key role in enabling them to prepare for these cash flow cycles.P’ng, on the other hand, focused on the role of culture in organisations as a differentiator in talent management.
Attendees to SOBA LAB PJ also obtained insights from Prof Muhaya Eye & Lasik Centre Sdn Bhd CEO Muhammad Addaem Mikhail Chandran, Senheng Electric Sdn Bhd founder and managing director Lim Kim Heng and Hernan Corporation Sdn Bhd founder and chief executive officer Anna Teo.