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Singapore’s Tourism Board and NATAS to partner with The FinLab to help travel agencies evolve through digital transformation

Singapore’s Tourism Board and NATAS to partner with The FinLab to help travel agencies evolve through digital transformation

The Ministry of
Communications and Information announced
that The FinLab would be collaborating with the Singapore Tourism Board (STB) and the
National
Association of Travel Agents Singapore (NATAS) to help travel
agencies evolve and renovate their businesses via a digital transformation
programme for the selected businesses.

Singapore’s economy relies heavily on the
tourism industry, which accounts for approximately four per cent of its annual gross domestic product. However, changing
consumer behaviour and the growing
competition for tourism dollars regionally pose a significant challenge to the
industry.

Consequently, to ensure the industry’s
continued growth, it is important for members of the industry to grasp the
currently available opportunities in the online travel market, particularly
those in the Asia Pacific online travel market, which is expected to grow
by 13 per cent
by focusing on technological transformation.

None the less, it was noted that despite
most consumers moving to online booking sites, travel agencies retain the
opportunity to go beyond the usual issuance of e-tickets and vouchers and, in
addition to these services, provide consumers with more personalised services. Thus, travel agencies must understand how
they can apply digital solutions to understand and connect more effectively
with their target audience along with personal interaction. 

In the face of a dynamic economic landscape
in Singapore, travel agencies and the companies and initiatives that seek to
help them grow and transform must remain constantly cognizant of the challenges
that SMEs (small and medium-sized enterprises) face in harnessing the potential
of technology and in transforming it into benefits for their businesses.

Experts maintain that in order for the
travel industry to continue to capitalise
on growth opportunities in the long-term it must continue to innovate. One avenue
to do this is to collaborate with
partners who have the expertise to assist Singapore’s travel agents in developing digital competencies.

The FinLab, a partnership between SGInnovate and United Overseas Bank
(UOB)
, is a business accelerator formed to propel technology
companies and catalyse the digital transformation of businesses.

The FinLab’s programme presents the
selected Singaporean travel agencies the opportunity to not only connect to The
Finlab’s ecosystem of associates to
transform their business digitally but
also enables them to use what they have learned
to improve their business’ performance, enhance consumer experiences and seize
business opportunities present in the digital economy.

Ms Ong Ling Lee, Director at Travel Agents and Tourist Guides, STB
stated that their collaboration with The FinLab is one of several initiatives
created to support travel agencies and help them grown and transform their
businesses in an increasingly competitive tourism market. “We hope that with
the practical guidance provided by this acceleration programme, travel agents
will be encouraged to take the first step towards achieving their growth
ambitions”, Ms Lee added.

The acceleration programme, which is
scheduled to last for three months, began on Monday, 11 June 2018. Four travel
agencies were selected to participate in the programme. The programme’s
curriculum is structured to enable these travel agencies to identify the areas
that hinder business growth. It will also help agencies understand how to resolve
these issues through technology and employ digital solutions best-suited to their
requirements.

Over the course of the programme, these
agencies will be provided with the expertise, resources and hands-on guidance offered
by The FinLab and its network of industry specialists, mentors and technology front-runners. To order to deliver an even more sophisticated and well-rounded service, the
travel agencies will be introduced to solution providers, principally experts
in the fields of data analytics and digital marketing. These specialists will
then help the travel agencies identify and pilot the most suitable and
inventive solutions to their concerns.

The collaborative programme is scheduled to
end some time in August 2018.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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