The Big Picture Crowdsource Innovation After a turbulent few years, we’re entering an economic downturn with a slowdown in the investment market, as growth for the sake of growth is no longer viable, and profitability returns as a priority. Digital innovation is still necessary, as plenty of untapped opportunities exist to solve actual problems, particularly in sectors like agriculture, education and energy. Using a new approach to innovation called digital acceleration, companies can continuously leverage a little bit of technology to make a huge difference. The tech industry is at a transition point. Investors and market incumbents have been typically attracted to growth, however, the media has been awash with tech business scandals that suggest it will take more than rocket-ship advances, as seen during the big tech boon of earlier years, to launch a viable and sustainable tech outfit. Simultaneously, the ambition to build a new and decentralized internet has seen vast amounts of money go into cryptocurrency and NFT markets, yet sufficient safeguards have not been able to match this wave, making them susceptible to scams. The problems with such a religious commitment to growth as seen previously are not lost on investors and C-suite executives either […]

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BEIJING, Jan. 31, 2023 /PRNewswire/ — On January 24, 2023, the inception meeting of the "Digital Transformation" task force of the B20 summit under the Indian presidency in the Group of Twenty (G20) was held online. As an important supporting activity of the G20 Summit, it was attended by representatives from over 160 top global enterprises including Google, Microsoft, IBM, Siemens, Wal-Mart and Boston Consulting Group, etc. Continue Reading QAX QAX, as the only Chinese cybersecurity company selected into the task force, attended the meeting, at which, Qi Zixin, Vice President of QAX and Secretary General of QAX Public Welfare Foundation, delivered a speech on increasing the cybersecurity level of critical infrastructures, promoting international communications on cybersecurity and jointly coping with global security challenges, etc. From the perspective of cybersecurity in the digital era, Qi made three suggestions on behalf of Chinese cybersecurity companies. First, increase the level of cybersecurity of critical information infrastructures so as to ensure safe operation of digital public infrastructures. "The issue of cybersecurity of critical information infrastructures should not be overlooked," said Qi. As the first cybersecurity service provider in the history of the Olympic Games, QAX, during the Olympic and Paralympic Winter Games […]

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CommerceHealthcare® has released its fifth annual Healthcare Finance Trends for 2023 report. The report includes an in-depth analysis of research combined with practice experience and identifies consideration for the industry given multiple intersecting challenges in the year ahead. The report’s key insights range across regulatory, financial, technological and supply chain considerations. The full article is accessible at CommerceHealthcare.com/2023FinancialTrends , but one trend that will continue to carry importance for healthcare leaders is the need for a digital transformation. Digital transformation is fundamental to healthcare’s business and care delivery model changes. IBM’s website succinctly captures the goal: “Digital transformation means adopting digital-first customer, business-partner and employee experiences.” A leading forecaster believes 70% of healthcare organizations will rely on digital-first strategies by 2027. 1 Transformation efforts need to accelerate. One study showed that “digital, technology and analytics strategies exist for nearly all organizations, yet only 30% have begun to execute on those plans.” 2 One functional segment ramping up digital transformation is finance. According to a recent survey, 94% of CFOs and senior leaders stated that such efforts will be at the forefront of financial operations and strategy for 2023-2024, and 79% described it as an “absolute need” for “commercial stabilization […]

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European transformation leaders share fresh perspectives based on their real-world experiences. A unifying principle to drive change and a structured approach to execute and sustain it can boost success. Transformation leaders and other C-suite executives around the world continue to pursue ambitious transformation programs for reasons that have remained consistent over time: they seek to unlock growth potential, accelerate the rate at which they innovate, improve customer experience, build new capabilities, and compete effectively in the future. But the past several years have been marked by sustained uncertainty and unprecedented volatility. Today’s transformation practitioners—each on their own journey and timeline—can draw upon the cumulative wisdom of the many leaders who have completed successful transformation programs and offer fresh perspectives for these challenging times. Against this backdrop, McKinsey recently convened a group of senior leaders in Europe who are currently engaged in transformation efforts, some on a global scale (see sidebar, “About McKinsey’s European Transformation Summit”). This article reflects the insights and experiences shared at the summit by practitioners in attendance. The summit offered an opportunity for these practitioners to discuss the current state of transformation, find common ground across industries, and glean insights to shape their paths forward. As […]

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Union Budget 2023-24 has garnered a positive response from the business community with several experts praising the initiatives announced by the finance minister. The budget, aimed at fostering growth through digital transformation has received praise for its focus on the financial sector, skill development and the start-up ecosystem in India. Prateek Toshniwal , Founder, Director & Advisor at Tosniwal Ventures, says, “The Union Budget for the 2023-24 fiscal year has changed the capital investment landscape in the country. The economy is projected to grow at 7%, the highest among major economies. India is on the right path, despite current challenges. The finance minister’s cap-ex target for 2023-24, at Rs 10 lakh crore is 33% higher than the 2022-23 budget estimate of INR 7.5 lakh crore and represents 3.3% of GDP.” Ashish Singhal , Co-Founder and CEO of CoinSwitch echoes digital transformation, “It’s great to see the financial sector as one of the seven priority sectors in the budget. While we are still reading the fine print, the thrust to improve financial literacy and to build DigiLocker as a one-stop KYC solution are positives for the Wealth Tech Ecosystem. Being an early adopter of DigiLocker, its use has greatly helped […]

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Ammon News – The Cabinet, in its session held Wednesday, chaired by Prime Minister Dr. Bisher Khasawneh, discussed the progress made on Jordan’s digital transformation programs and achievement expected during the next stage in this regard, as part of the services axis within Public Sector Modernization’s Roadmap. The Council of Ministers was briefed by Minister of Digital Economy and Entrepreneurship, Ahmed Hananda, on achievements made so far within Jordan National Digital Transformation Strategy and its implementation plan, primarily steps that will be taken during 2023 and the coming years and the institutions under this plan for the purpose of fully digitizing their services. Hanandeh also briefed the Cabinet on flagship e-government gateway Sanad app and its e-services, primarily activating digital ID, files, signature and e-payment, pointing out that citizens can benefit from multiple services and issue or use documents through this portal. To date, he announced more than 200 e-services and features were launched on Sanad platform for various police, judicial, customs, land, energy, trade, industry and youth departments and ministries. The minister said approximately 2,400 services provided by 50 institutions and government departments were documented and completed, adding that a total of 700 services were approved for digitization […]

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The Ethiopia-based bank aims to transform its retail and SME loan processes DUBAI, UAE, Feb. 2, 2023 /PRNewswire/ — Newgen Software, a global provider of low code-based digital transformation platform, NewgenONE , today announced that Bank of Abyssinia, one of the fastest growing banks in Ethiopia has onboarded Newgen for end-to-end automation of retail and small and micro enterprise (SME) loan types. With the loan origination solution , built on NewgenONE, the bank will streamline the origination, processing, tracking, and disbursement of loans. The solution will be used in 750+ branches spread across Ethiopia. The Bank will leverage Newgen’s platform with capabilities such as business rule engine , workflow management , and document management and ensure 360-degree process visibility in the business activity monitoring and reporting. The robust system will equip the bank to meet the growing business demands and allow them to transform digitally and scale operations to handle high-volume transactions. "Newgen’s loan origination solution will enable us to respond faster to customer queries and requests. It is vital for us to offer a premium user experience to our valuable customers. Newgen’s solution will help us achieve operational excellence and business innovation, enabling us to stay ahead of […]

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LambdaTest Accelerates Digital Transformation for Enterprises LambdaTest Launches Digital Experience Testing Cloud to Accelerate Digital Transformation for Enterprises LambdaTest’s digital experience testing cloud will enable enterprises to test for omnichannel experiences on custom-designed, robust, and scalable infrastructure LambdaTest, the leading continuous quality testing cloud platform, has announced the launch of digital experience testing cloud for enterprises. The offering will enable enterprises to accelerate their digital transformation by providing a best-in-class, 360-degree test execution and orchestration platform coupled with insightful test analytics and customizable deployment options. According to Forrester’s Best Practice Report titled ‘Optimize Your Digital Experience To Compete For Customers’, “No matter how embedded your brand is in customers’ lives today, if you stop meeting their expectations, it’s easy for them to switch to a competitor tomorrow. As the ratio of digital to nondigital customer interactions continues to increase, both digital customer experiences and the data that firms collect about them will evolve in ways that will challenge and reward insights-driven, customer-led organizations.” Enterprises across the globe are striving to cater to the growing needs of digital-native customers. This translates to developers constantly working to provide a high-quality experience to customers while applications are undergoing continuous change. Such a […]

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Summary At the virtual annual ARC Industry Forum Asia titled Accelerating Industrial Digital Transformation and Sustainability on July 12-14, 2022, Hexagon participated as a Platinum Sponsor. Registrations touched 1,600+ delegates for the two language tracks – Japanese and English. This ARC View will cover the highlights of the presentations made by speakers from Hexagon in both the language tracks. In the Japanese track, Hiroshi Osaka, APAC Business & Operations Director, Asset Lifecycle Intelligence Division, focused on introducing Smart Digital Reality into the Japanese market, which is being promoted globally by the company. In the session on Asset Management Advances, Kevin Price, Vice President, Digital Assets Strategic Advisor, Technical Product Evangelist, spoke about the company’s industry agnostic Enterprise Asset Management (EAM) solution. Hexagon’s Approach to Enabling Industrial Autonomy Hexagon defines itself as a digital reality company that promotes autonomy for industrial development. The company aims for automation through data utilization and further autonomy. First, looking at the current state of data utilization, which is the basis of autonomy, the amount of data generated has increased exponentially due to the trends of digitization, IoT, and Digital Transformation (DX). On the other hand, utilization of data has not kept pace. Data utilization […]

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Provided by Adobe Stock. Image provided by Smith Publicity. "Business as usual is no longer valid," Kamales Lardi writes at the start of The Human Side of Digital Business Transformation , a book that leverages decades of business and consulting experience to craft a human-centered roadmap to successful digital transformation. Practically bursting with comprehensive research and interviews with global business figures, this is a wide-ranging, eminently readable volume that engages the heart and mind with a thorough, practical and ultimately optimistic manual for success in the Fourth Industrial Revolution. It would honestly be intimidating in its intellectual weight if the writing wasn’t so engaging. Vividly illustrated with historical and current examples, Lardi brings real-world strategies for success, which she shares with an easy, conversational style that sucks you into the pages and simply won’t let you go. This is essential reading, especially for anyone involved in digital marketing and customer engagement. Image provided by Smith Publicity. Putting people first "Digital business transformation is a fundamental change of an organization’s culture, operations and ecosystem by leveraging technology to create value," Lardi writes. "The type of leadership and culture required can be described as agile and adaptable, one that is purpose-driven […]

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