Exporters reminded anew to secure online businesses

CEBU, Philippines — The Department of Trade and Industry (DTI) has reiterated its warning for businesses to employ secured technology in doing business online.

The agency specifically directed its warning to the export sector, wherein doing business online is the only way to go to effectively reach out to their customers all over the world.

“I think e-commerce is really the way to go. We would like to encourage all the exporters to reinvent itself and take advantage (of this). It’s a really perfect digitalization boost, that is what we need,” said Department of Trade and Industry (DTI) e-Commerce Lead Assistant Secretary Jean Pacheco.

While eCommerce is highly encouraged as this is the way to go under the new normal, Pacheco reminded business owners especially exporters to be extra vigilant in doing digital financial transactions.

She said e-commerce is deemed the “greatest equalizer” that even small companies can become competitive as brick-and-mortar businesses move online especially during the pandemic.

According to Pacheco, DTI is working closely with other government agencies and the private sector involved in the supply chain.

“For us, it can be summarized into market access, digitalization, and logistics and integration... Digitalization of MSMEs (micro, small and medium enterprises) so they will be skilled and upskilled. All of these we are working on. Your government is working to improve market access --ecommerce can do that now and then of course logistics integration, meaning to say we would like to reduce the cost of logistics and improve its efficiency,” she added.

Likewise, DTI is also working with startups to promote innovation and investments in the e-commerce sector as well as improving infrastructure, as the country implements the E-Commerce Philippine Roadmap.

She said digitalization of human capital or talent is also imperative to ensure that human resources are future-ready and are able to support the country’s thriving internet economy.

“Whether speed, structure and security, it should redound to sale because at the end of the day, we want you to prosper and your businesses to grow,” she added.

Meanwhile, Bangko Sentral ng Pilipinas (BSP) Director Melchor Plabasan said going digital is no longer just a matter of convenience, but a necessity for everyone.

The BSP official cited digital offerings of financial institutions available such as domestic interbank funds transfer facilities, and cross border payment facility of the bank.

On cybersecurity, Plabasan said BSP and its supervised financial institutions have a dynamic policy framework that prescribes the security standards supported by onsite examination and off-site surveillance, and even assistance mechanisms for consumers should they encounter any problem with their institutions.

Just like Pacheco, Plabasan also urged businesses to embrace or go digital but be (also) vigilant, be responsible, practice proper cyber hygiene, know how to protect your account.

“Let us all work together towards achieving a safe, secure and vibrant digital economy for the Philippines. It’s always striking the right balance between safety, security, regulation, and innovation as well, and convenience,” he added.