German software giant SAP and US experience management (XM) platform provider Qualtrics are committing $14.1 million to a program that will create a center of excellence (COE) in Singapore focused on advancing local and regional XM capabilities.
Supported by the Singapore Economic Development Board (EDB), the new Center for XM Innovation in Asia is the first of its kind in the region and aims to redefine both CX and employee experience (EX) for local businesses and governments.
Specifically, the Center for XM Innovation in Asia hopes 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 organizations to use experience as a key competitive differentiator.
The center 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.
Part of the center’s mission is to empower more than 180,000 small and medium-sized enterprises (SMEs) in Singapore by enabling them to use advanced technologies and elevate Singaporean enterprises onto the global market. The center will also conduct industry research across the region and develop local benchmarks for companies to allow for more data-driven decisions.
Singapore, a city state less than 300 square miles in size, has been ranked as the world’s most open economy by the World Economic Forum and is also one of the world’s most prosperous countries. Even so, organizations in Singapore today face increasing competition from new market players that have disrupted industries by providing better experiences.
Eileen Chua, managing director at SAP Singapore, said organizations this year need to prioritize agility and prepare for ongoing shifts in meeting the needs and expectations of customers and employees in the experience economy. “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,” Chua added.
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
