Disrupt or get left behind, Oracle MD tells Philippine businesses
THE PHILIPPINES is home to multitudes of small and medium-sized businesses, many of which are still operating in a conventional, non-digital manner. According to Oracle PH managing director Mina Lim, however, Filipino enterprises who are not willing to disrupt themselves now are running the risk of being left behind in their respective industries.
In a statement emphasizing the need for the Philippines’ business sector to ride the ever-growing technological wave sweeping the enterprise world, the Oracle executive asserted that the time for deciding whether to go digital or not is long past. If a business wants to stay relevant at this stage, it has to meet technology head-on.
“Companies should no longer waste any more time in deciding when to undertake their digital transformation. They should do disrupt themselves now lest they be left behind,” Lim said, according to a NewsBytes report.
While the advantages of going digital are many, numerous Filipino small businesses still hesitate to disrupt themselves due to the effort and costs involved. Apart from this, the additional manpower involved in embracing digital solutions is something that has discouraged many Filipino business owners over the years.
Despite this, however, the Oracle executive stated that at this point, it is not a matter of cost, effort or manpower anymore. For Philippine businesses to stay competitive and relevant in their respective fields, it is pertinent for them to prioritize a transition into the digital age. According to Lim, this is something that Oracle is prepared to give.
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“ Businesses must determine what they want, how they want it, and when they want it, then start planning its priorities. We have the expertise, we have the platform, we have the technology,” Lim said, according to a NewsBytes report.
While the digital wave has consumed most of the business landscape in Asia, there are still places such as the Philippines that are not fully saturated by technology. Business centers in the country, such as Metro Manila and Cebu, might be immersed in digital solutions, but many enterprises in the far reaches of the Asian country continue to operate uninterrupted.
In a lot of ways, Lim’s points are valid. The digital transformation of the business sector is ongoing, and enterprises, from SMEs to larger corporations, need to meet technology head-on. As stated in a Workday article, businesses must look into the adoption of technology in their operations – from utilizing cybersecurity measures to using cloud-based solutions.