SINGAPORE — SAP SE (NYSE: SAP) and Qualtrics (Nasdaq: XM) today announced a new program to create a dedicated Experience Management (XM) centre of excellence (COE) in Singapore. Supported by the Singapore Economic Development Board (EDB), the new Centre for XM Innovation in Asia is the first of its kind in the region and will be focused on advancing local and regional XM capabilities.
At a time when improving the experiences delivered to customers and employees is a pressing priority for organisations across Singapore, XM enables them to listen, understand, and act on customer, employee, and market feedback at scale in real-time to make continuous improvements to the products, services, and programs delivered.
The Centre for XM Innovation in Asia 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 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.
Experience Innovation to Power Next Stage of Competitive Growth
Organisations in Singapore are facing increasing competition from new market players that have disrupted industries through better experiences. The importance of superior experiences are further demonstrated by recent research from Qualtrics, which found that poor customer experience could be costing businesses in Singapore up to US$11 billion (S$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.
“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’,” said Eileen Chua, Managing Director, SAP Singapore. “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.”
Mr Ang Chin Tah, Senior Vice President, Digital Industry Singapore said: “SAP and Qualtrics launch of their Asia-first Centre for Experience Management Innovation here speaks to their confidence in Singapore as an innovation and commercial hub. 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.”
Building a Benchmark of Excellence and Innovation
“For organisations in Singapore to win and lead in today’s experience-driven marketplaces, we need to uplift awareness of the impact XM can unlock, alongside boosting capacity, resources, and capabilities to drive such initiatives,” said Mao Gen Foo, Head of Southeast Asia, Qualtrics. “Today, we are seeing leading organisations – such as Singapore Post and IHiS – succeed with XM. The opening of a dedicated Centre for XM Innovation in Asia will be of huge value to organisations across Singapore, providing expert resources and support to help them successfully navigate modern and emerging business challenges, alongside fuelling long-lasting local and global success.”
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. The Centre for XM Innovation in Asia will also work closely with the Qualtrics XM Institute, led by Bruce Temkin, which brings together XM professionals, practitioners, and leaders to learn and share XM best practices, thought leaderships insights, networking opportunities, and specialised training and curriculum.
“For 50 years, SAP has been the trusted system of record for enterprises all over the world. With the set up of the XM COE here, we intend to build a new level of intelligence across an organisation so that appropriate business decisions can easily be taken to address people’s emotions and attitudes and close any experience gap in their business processes. The launch of the Centre for XM Innovation in Asia by Qualtrics is a significant step in advancing the capabilities and innovation of Singapore’s businesses, and to establish the country as a beacon of excellence to empower a new era of growth through experience innovation,” added Chua.