SAP, Qualtrics and EDB invest SG$14.1m for SG experience management centre

SAP, Qualtrics, and the Singapore Economic Development Board (EDB) are collaborating in a SG$14.1 million initiative to launch a dedicated Experience Management centre of excellence (COE) in Singapore, which will establish Singapore as a regional hub for experience management (XM) innovation. The new Centre for XM Innovation in Asia is touted to be the first of its kind and will be focused on advancing local and regional XM capabilities. 

The centre aims to develop the XM discipline in Singapore, build professional capabilities for XM locally, foster a community of XM professionals to further the category, and enable organisations to use experience as a key competitive differentiator.

It plans to create up to 30 new roles, including XM scientists and researchers, business architects, and digital supply chain practitioners, while helping to attract local and international companies to drive innovation. The centre also aims to empower more than 180,000 SMEs in Singapore by enabling them to utilise advanced technologies, upskill employees with XM core skillsets, and elevate Singapore enterprises on the global market. 

To better enable local organisations to measure success across their XM projects, the centre will also conduct industry research across the region and develop benchmarks for companies. These local benchmarks allow greater accuracy of measurement and assessment of the XM situation to allow for more data-driven decisions.

According to research by Qualtrics, poor customer experience could be costing businesses in Singapore up to SG$14.9 billion annually. Research from Qualtrics also reveals the main reasons Singaporeans plan to switch jobs in 2022 are for better work-life balance and growth opportunities.

The Centre for XM Innovation in Asia will also work closely with the Qualtrics XM Institute, led by Bruce Temkin. The opening of the centre is the latest in a series of initiatives focused on developing and supporting the XM category in Singapore. In mid-2021, Qualtrics announced the opening of a dedicated data centre in Singapore to help accelerate experience transformations in the region, alongside plans to hire 1,200 new employees by 2024. 

Eileen Chua, SAP Singapore's MD, said heading into 2022, organisations need to prioritise agility and prepare for ongoing shifts in meeting the needs and expectations of customers and employees in the experience economy, even amidst the "never normal". "Experience Management is not only a pressing priority for businesses in the competitive marketplace but also a key differentiator to unlock innovation and drive and deliver customer value and retention," he added.

Ang Chin Tah, SVP, Digital Industry Singapore said: "Through partnerships with local and regional businesses, the centre will help them become more competitive, and provide learning opportunities for Singaporeans in employing digital tools to better understand their customers."

Photo courtesy: 123RF

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