SBF launches tool to help firms assess ‘future readiness’, address capability gaps
They aim to reach 200 companies cumulatively by the end of 2026 and 500 by the end of next year
The Singapore Business Federation (SBF) has introduced a new diagnostic tool called the Future Ready Business Index (FRBI) to help companies evaluate their future readiness, identify capability gaps, and prioritize transformation efforts. The tool, co-developed with Boston Consulting Group (BCG) and delivered in partnership with DBS, Enterprise Singapore, and RSM Singapore, assesses 11 quantitative measures and 39 qualitative metrics with specific descriptors for objectivity.
The FRBI falls under the Future Ready Business platform and employs a T-shaped model, providing a comprehensive assessment while identifying which pillars require the most work. SBF CEO Kok Ping Soon highlighted that it differs from other diagnostic tools by giving businesses a complete picture, measuring maturity rather than just activity, and turning diagnosis into action.
The tool aims to guide companies to relevant programs, training, financing, and specialist support. Over 100 companies have completed the FRBI, with the goal of reaching 200 by the end of 2026 and 500 by the end of 2027. Companies using the FRBI can refine it over time to stay relevant to business needs. Based on pilot feedback, the tool was optimized to allow companies to delegate sections to team members with relevant expertise and reduced the time needed to complete the survey.
Companies with higher FRBI scores tend to have better business outcomes, with progressing companies showing higher median revenue growth compared to nascent ones.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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