A recent study by Tricentis highlights the significant financial impact of poor software quality on Singaporean businesses, with 74% of organisations estimating losses between $500,000 (S$660,000) and $5m (S$6.6m) each year. The report, which surveyed 500 IT leaders in Singapore as part of a global study, underscores the urgent need for improved software quality across various sectors, including manufacturing, financial services, and the public sector.
The manufacturing industry is particularly affected, with 39% of companies incurring costs exceeding $1m annually due to software issues. Furthermore, 61% of Singaporean organisations are at significant risk of a software outage within the next year, with 7% having already experienced a major outage this year.
Despite the focus on improving software quality and speed, 47% of organisations admit to deploying untested code, driven by the pressure to expedite release cycles. The report also highlights the potential of AI in addressing these challenges, with 80% of organisations expressing enthusiasm for AI’s role in enhancing productivity and quality.
Kevin Thompson, CEO of Tricentis, emphasised the importance of balancing quality and speed, stating, “Recent software outages due to unchecked or untested code changes showcase just how critical high-quality software is to the wider organisational ecosystem.” Damien Wong, Senior Vice President for Asia Pacific at Tricentis, added that maintaining rigorous quality standards through AI testing is crucial for sustaining long-term innovation.
The findings suggest that as AI continues to evolve, organisations must redefine quality standards and invest in AI skills to mitigate risks and enhance software resilience.
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