Techblog
Case study: How Ascent Solutions achieved success by going digital
With Singapore’s commitment to move towards a Smart Nation, it is clear that SMEs are in a prime spot to take advantage of the support available and develop their digital capabilities. We speak to Ascent Solutions, which has excelled by tapping into technology for their operations.
Singapore is ideally positioned to benefit from its investments in technological innovations, reported the World Economic Forum in July. In other words, the country is well-prepared to reap the benefits of existing and emerging technologies created by digital innovation and disruption.
Ascent Solutions, a Singapore SME specialising in logistics solutions, has done just that. During the 2016 National Day Rally, Prime Minister Lee Hsien Loong made mention of Ascent’s use of digital innovation to enhance its capabilities in the logistics sector. Of note, the company has developed iSpot, an end-to-end solution that incorporates Ascent’s electronic cargo-tracking system as well as a fleet management system. After developing groundbreaking products like iSpot, the company has expanded rapidly outside of Singapore and are now well-entrenched in African markets.
Ascent’s CEO and co-founder Lim Chee Kean, who is also the vice-chairman of Singapore’s Internet of Things Technical Committee said: “With the company, I am constantly looking into various technology like Bluetooth low-energy devices, GPS, GPRS and satellite communication to create new digital solutions for existing problems. As an SME, that is how I seek to stand apart.”
Use digital tools to further optimise your business
Ascent's CEO and co-founder Lim Chee Kean, who is also the vice-chairman of Singapore's Internet of Things Technical Community, has been aggressively trying to expand overseas. He said: “Singapore is a small market so it is important to develop innovative solutions. Otherwise, it’s going to be very difficult,” he said.
SMEs need to take advantage of existing tools and technology to help grow their exposure overseas. In addition to digitally enhanced products and solutions that is relevant for overseas markets, he stresses that SMEs must make full use of tools such as Google Analytics, which can provide a great deal of information about online engagement. The web analytics tool helps give Ascent Solutions a deeper insight into the enquiries and the type of services and products foreign visitors are interested in. Mr Lim said: “When we used Google Analytics, we knew specifically which countries the enquiries were coming from and which products and services they were interested. This helped us further refine our strategies for the different markets.”
This helps us improve and optimise our company’s strategies to expand into overseas markets.”
Lim attributes Ascent’s success in part to the proper use of such digital tools like Google Adwords. “Now, we are at a stage to expand aggressively. Using search engine marketing platforms like Google AdWords which helps us identify, refine and use the proper keywords for our campaigns and website, has helped our sales pipeline grow by five to six times. Without tools like AdWords, most companies wouldn’t have heard of Ascent and our products. So it is not all about coming up with these brilliant solutions. It is important to make yourself heard as well.”
It is also vital that the top management understands these tools and is able to interpret the data gathered, said Lim. “This is so that management can map out their global strategy.” He added: “The best part about these tools is that they often do not require a big budget.”
AdWords has also helped Ascent Solutions make the bidding process more efficient. “With Google Analytics, we know if there are tenders coming up, as we will receive an influx of inquiries from the same country and the ability to have an insight into the demographics really helps us,” he explained. “This helps us better prepare for a bid in an unfamiliar market,” said Lim.
Lim noted that in the past, Ascent had to have staff fly to these remote markets personally, to verify if the enquiries were real, after which they would have had to figure out what the clients might be interested in. “Now, with Analytics, I know what they are looking for so we are much more targeted and this helps us in our productivity as well.”
In short, it is essential that SMEs not only come up with solutions for a digital economy, but also use available digital tools to be heard, and to expand outside of Singapore. As Ascent has clearly illustrated, an extravagant budget is not always necessary for global success.
- Take advantage of Singapore’s digital infrastructure and come up innovative solutions to stay ahead.
- Besides developing solutions, make sure that your customers and clients know about your products or services.
- Use digital tools like Google AdWords or Analytics to make more informed decisions and map out your strategy.