“We are very pleased to be a part of this novel initiative. The NTP is a nationalized marketplace and a ‘game changer’ where SMEs can buy and sell digitally. This platform, implemented properly, can change how the 200,000 SMEs of Singapore transact locally and globally,” said Shashank Dixit, CEO, Deskera.
“The SME sector has always been in dire need of an enterprise software that would help them run their business end-to-end – not just do one thing, but ‘Run the business.’ Most of the existing software providers usually cater to big enterprises and are beyond the reach of SMEs, both in terms of affordability, adaptability, and complexities. I see a tremendous opportunity for a pay-per-user integrated business software suite that enterprises could quickly implement and utilize,” Dixit added.
The NTP initiative plans to become a one-stop trade information management system and aims to improve Singapore’s trading ecosystem by allowing different business communities to operate and share electronic information. As Singapore moves towards becoming a Smart Nation, Deskera plans to help SMEs carry out digital transactions. It will develop and pilot its own cloud-based ERP solution for the NTP. This interlinking of the NTP network and its Cloud ERP suite will allow the exchange of trade, documentation, and information between business partners.
“Singapore is going to be the first nation of the world where SMEs transact on an approved platform. The challenge in dealing with a private player and a common player is that the private player may look at it from a profit point of view and may not be keen on ensuring that participants are approved and transactions are proper. If a common player launches it, there would be some assurance that players are more serious and credible,” added Dixit.
Users will be able to connect to the NTP and access established communities to retrieve or exchange digital trade-related information for onward processing, such as to apply for cargo insurance, trade financing and make regulatory declarations. They can also extract Data Analytics and draw insights from their trade. With digitization, SMEs will be able to streamline logistics and supply chain. This will, in turn, uplift their IT capabilities, enhance their competitiveness within the industry, and optimize business operations. The NTP will also provide opportunities to developers to design new software applications for various business needs.