Despite a challenging macroenvironment, Indonesian companies remain positive and bullish. According to a study by UOB, 90% of Indonesian SMEs and Large Enterprises are optimistic about their business and are planning to take the necessary steps to ensure they are prepared to navigate the changing economic environment.
Adopting digital solutions to automate processes and improving customer experience are their top actions to drive growth. Additionally, in the next three years, businesses in Indonesia are prioritising to digitalise their business to raise efficiency (43%), tap into new customer base (40%), develop new sources of revenue (36%), reduce cost (34%) and re-skill or up-skill existing talent (27%).
To support the drive, optimism and potential of SMEs in Indonesia, the launch of UOB FinLab in Indonesia will enable Indonesian businesses with the tools, knowledge and resources needed to increase the competitiveness of their digital products and services.
Digitalisation programmes specially tailored for Indonesia such as UKM SUKSES (Sistem Usaha Kreatif dan Solusi Ekonomi Sejahtera) was launched in September 2023 in conjunction with UOB FinLab’s expansion into Indonesia. The two-day programme focused on helping Indonesian SMEs successfully digitalise by equipping them with knowledge, strategies and practical tips for adopting digital technologies in e-commerce, digital marketing and logistics.
Ainul Marliah, Founder of Oncelicious, a participant from our Indonesia programme UKM SUKSES mentioned that “she was previously comfortable with manual book-keeping processes, but the programme allowed her to understand the numerous benefits of streamlining business operations through digitalisation. She foresees that “SMEs in Indonesia will continue to understand the importance of digitalisation and incorporate digital tools into everyday operations.”
Being present across ASEAN, Indonesian SMEs can leverage UOB FinLab’s regional ecosystem for knowledge sharing and business matching. Hendry Tju from CV Nore Inovasi, another participant from our UKM SUKSES said: “Through UOB FinLab’s digitalisation programme, I have managed to receive resources to guide some of my business’ digitalisation processes and have been introduced to new prospects in different industries.”
To bring this extensive network one step further for businesses in Indonesia, UOB FinLab signed Memorandums of Understanding with ecosystem partners such as the Indonesian Public Service Agency for Small to Medium Enterprises and Cooperatives (SMESCO), the Indonesian Young Entrepreneurs Association (HIPMI JAYA), and the Employers’ Association of Indonesia (APINDO) to build an interconnected, supportive and vibrant ecosystem for local businesses to grow digitally and sustainably.