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The Golden Jubilee: Celebrating, Reflecting & Planning 50 Years



As we commenced the year 2020, it occurred to us that New Prosperity Electrical (NPE) turns 50,

making it an ideal time to reflect on how our business and IT have changed, as well as look at what

has retained the same.


New Prosperity Electrical Pte Ltd (NPE in short) was founded in 1970 as a modest trading company in

the neighborhood area, providing sales and technical consultation with less than 5 staff. During

those days, NPE provided repair services for televisions, radios and other electrical appliances.


Following the dot com bust of the early 2000s, it was no longer acceptable or viable to handle one-

to-one sales or manage customers manually. It became a requirement to think in terms of a scalable,

modular and efficient way to bring in new sales, market and manage existing as well as new

customers. NPE was revolutionary and adapted to the various industrial changes in its time,

delivering a set of blueprints and products, with a constant that has not changed – the consistency

in providing high standards of service & empathy to our customers.


Today, NPE has grown into one of Singapore’s leading suppliers of electrical industrial components.

We have been deep rooted experience and worked alongside with companies varied in different

verticals and sizing such as manufacturing, construction, automotive, utilities, oil and gas, and

pharmaceutical industries.


Digitization Empowering the next generation: Formula for a hyper-grown & sustainable future

  1. Approaching B2B eCommerce as an Omni-Channel & Growth Opportunity

  2. Understanding & being the Forefront for B2B eCommerce Dynamics & Expertise

  3. Rethinking, Reshaping & Building a B2B-focused winning team


Approaching B2B eCommerce as an Omni-Channel & Growth Opportunity

Majority of us have individually engaged in eCommerce one way or another and these behavior

patterns are likely to result in more online transactions in the coming years. We understand the

mechanics of B2C eCommerce intimately and enjoy the ease of finding products, integrated services

as well as on-demand door-to-door delivery. Today, more and more of such buying experiences has

been heightened for business buyers too. In fact, the truth is that B2B eCommerce has been steadily

growing to multiple times the size of B2C – accounting for $9 trillion in sales in 2018. Bear in mind,

this was reported factually two years back.


Understanding & being the Forefront for B2B eCommerce Dynamics & Expertise

To stay ahead of the industry, we are growing with our expertise in managing a digitized customer,

acknowledging new B2B buyers’ expectations. When it comes to customer experience (CX), there

are multiple digital touchpoints B2B customers are influenced by and relying on. As the average B2B

customer interacts with six different channels throughout the decision journey and almost 65

percent will come away from it frustrated by inconsistent experiences, hence we have narrowed

down on tactics to fully leverage and integrate these platforms into a seamless ecosystem.


Rethinking, Reshaping & Building a B2B-focused winning team

In order to achieve a winning team, it is imperative and fundamental to look at structure and

processes. When we mentioned about an organization’s processes, we look at various components

holistically – the leadership styles, the on-ground staffs’ working methods and relationships, culture

and mindset. Processes are critical aspects of any B2B eCommerce transformation journey, and we

have mapped out a multitude of steps and accompanying actions to achieve over the next few years.


To hear more about how New Prosperity Electrical (NPE) is building and empowering the next

generation as part of our digital transformation journey, follow our blog and social media platforms

to exchange intellectual thoughts. We will be posting our three strategies in detail, so do continue to

watch this space.


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References

Digital Commerce 360. (2018). Mapping $9 trillion in U.S. B2B online commerce. Retrieved from https://www.digitalcommerce360.com/2018/04/17/mapping-9-trillion-in-u-s-b2b-e-commerce/


McKinsey & Company. (2015). Do you really understand how your business customers buy? Retrieved from https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/do-you-really-understand-how-your-business-customers-buy


#NPEJubilee #50th #anniversarry

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