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Watsco Inc. is accelerating its digital transformation by expanding its ecommerce capabilities and investing in technology to drive growth. During the company’s year-end earnings call, Watsco president A.J. Nahmad emphasized the importance of ecommerce in shaping the company’s future. “You have this digital platform that’s kind of smoothing the transition into how customers actually buy the product, specify the products, match the products, add correlated products to those products, and you get the drift,” Nahmad told analysts. “We also made the transition that influence 50% to 60% of our sales. We are making investments to train our customers, leverage our technology advantage, and transition close to $1 billion in inventories to aggressively take advantage of this opportunity.” Ecommerce has become a key driver of Watsco’s growth, with its digital sales reaching $2.6 billion in 2024, accounting for 35% of total revenue. In the fourth quarter, Watsco ecommerce sales grew 16%, surpassing the company’s overall revenue growth. News Ecommerce now accounts for 35% of Watsco sales Mark Brohan | Feb 18, 2025 Watsco ecommerce drives sales growth “Our technology platforms have gained momentum,” Nahmad said. “Our community of active users of Watsco mobile apps has expanded to over 64,000 users. […]

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The Sri Lankan government has set aside US $10 million (3 billion Sri Lankan rupees) for digital transformation strategies this year, aspiring to generate US $15 billion in revenue through the digital economy in five years with a unique digital ID and new legislation for digital services after the launch of a governing digital body. The Sri Lanka Unique Identity Project ( SL-UDI ) will be a key element of this transformation and by eliminating duplications in identity records across government departments, SL-UDI seeks to ensure data accuracy and efficiency in government operations. In 2023, India granted Sri Lanka $5.4 million toward the SL-UDI project. As of January, India’s contribution has risen to SLRS 10.4 billion ($35 million) of an estimated SLRS 20 billion ($67.3 million) total. Sri Lanka’s President Anura Kumara Dissanayake announced strategic initiatives to position the country as a leading digital economy in South Asia. The government is committed to strengthening regulatory frameworks, fostering technological innovations, and boosting financial inclusion to drive economic growth, he said in his 2025 Budget Speech last Monday. Dissanayake stated the formation of a Digital Economic Authority to run and regulate the expanding digital sector. New legal frameworks will be launched […]

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IFS North America, Inc. Feature Summary A Digital Transformation Roadmap for Food and Beverage Manufacturers Stuck in Option Paralysis The food and beverage industry is at a pivotal point going into 2025. Companies understand digital transformation is essential but are spoilt for choice with every option seeming right; every decision is fraught with challenges. The result is companies are falling behind due to "option paralysis" and a reluctance to disrupt existing systems. Let’s outline how food and beverage manufacturing companies can tackle the top three digital transformation challenges—cybersecurity threats, supply chain disruptions and climate change—and clear the way to reap the benefits of digital change. Food and beverage was a key market of the recent IFS report , which surveyed global manufacturing leaders and found that while they all admit their businesses cannot survive without the right technology, fewer than 10% qualify as digital leaders. A striking 65% of respondents labeled themselves as "laggards," who are falling dangerously behind and have stalled at the early stages of digital transformation with no firm plans in place. They are suffering from "option paralysis" where every option is seen as essential. Add to this the sheer volume and rapid pace of technological […]

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From AI-powered quality control to smart packaging solutions, technology is revolutionising how packaging is designed, produced, and experienced. February 20, 2025 Share Businesses that embrace these innovations will gain a competitive edge in an increasingly digital world. / Credit: Scharfsinn via Shutterstock Technology is changing our lives in ways we never imagined. From the way we shop and communicate to how businesses operate, digital transformation is at the heart of this shift. But what does digital transformation really mean for the packaging industry? Simply put, it refers to how packaging businesses and manufacturers use digital technology to improve operations, enhance customer experiences, and stay competitive in an increasingly digital world. For lay readers, digital transformation may sound complex, but it is something we encounter every day. When you scan a QR code on a product to check its authenticity, order customised packaging for an e-commerce purchase, or see smart labels that track a package’s journey, you are witnessing digital transformation in action. This article explores how technology is driving this change, the challenges packaging businesses face, and what the future holds for digital transformation in the industry. The role of technology in packaging transformation Technology is revolutionising the packaging […]

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Invest Bank has announced a strategic partnership with Veefin Solutions to introduce innovative digital trade finance solutions for businesses across the UAE . This collaboration will see the implementation of advanced Supply Chain Finance (SCF) solutions, aimed at optimizing cash flow, improving working capital efficiency, and streamlining the management of receivables and payables through specialized open account finance products. Deploying the SCF system is particularly crucial given the rapid expansion of businesses in the UAE. As of mid-2024, the country is home to 1.021 million registered enterprises, including over 550 fintech companies. Additionally, SMEs are projected to reach one million by 2030, reinforcing the need for seamless, technology-driven financial solutions. Sharjah plays a vital role in the UAE’s startup ecosystem, with around 60,000 small to medium-sized enterprises (SMEs) and startups valued at $424 million, spread across six free zones and 33 industrial zones. SMEs contribute to 40% of the national income and create approximately seven out of every 10 jobs, underscoring their economic importance. Edris Al Rafi, Chief Executive Officer at Invest Bank said: "With our strategic partnership with Veefin, Invest Bank is poised to leverage Supply Chain System to redefine the landscape of open account finance. This collaboration […]

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Digital Transformation Market Digital Transformation Market size was valued at US$ 1663.53 Billion in 2024 and the total Digital Transformation revenue is expected to grow at 13.7% through 2025 to 2032, reaching nearly US$ 4646.38 Billion This substantial growth is primarily driven by the integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud computing, alongside the increasing demand for improved operational efficiency across various industries. Get Free Exclusive PDF Sample Copy of This Research :-https://www.stellarmr.com/report/req_sample/Digital-Transformation-Market/352 Market Growth Drivers and Opportunities Organizations worldwide are increasingly adopting digital transformation strategies to enhance operational efficiency, reduce costs, and improve customer experiences. The proliferation of AI and machine learning technologies enables businesses to automate processes, gain actionable insights from data, and personalize customer interactions. The widespread adoption of IoT devices facilitates real-time monitoring and data collection, leading to informed decision-making and optimized operations. Cloud computing offers scalable resources and flexibility, allowing companies to adapt swiftly to market changes and focus on core competencies. Additionally, the COVID-19 pandemic has accelerated digital transformation initiatives, as remote work and online services became essential, prompting businesses to invest in robust digital infrastructures. Request Inquire Link For More Details:https://www.stellarmr.com/report/enquire_now/Digital-Transformation-Market/352 Segmentation Analysis The […]

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Macau gaming operator Wynn Resorts (Macau) has recently been invited by LinkedIn, the leading global social platform for professional talent, to join its Future Ready Program launched in Hong Kong, being the only Macau enterprise invited to join the program. Wynn is dedicated to qualifying the team members with the skills and knowledge required for achieving success in the era of artificial intelligence and digital transformation. Through this collaboration, Wynn seeks to understand the latest learning trends in the job market, innovative concepts, and technology to upskill team members and promote the innovation and sustainable development of talent in Macau. The Future Ready Program is being launched by LinkedIn in collaboration with 14 leading organizations from core industries in Hong Kong and Macau . Utilizing the talent pool of over 1 billion members from all around the world, the program will equip enterprises with necessary tools and resources through data-driven insights analysis, targeted upskill initiatives and knowledge exchange, thus navigating workforce transformation, driving a culture of innovation, and equipping professionals in Hong Kong and Macau with the skills needed to thrive in a rapidly changing job market. As a partner of the Future Ready Program and the only Macau […]

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Andersen Consulting integrates digital transformation and AI-driven solutions with Andersen Global’s world-class tax, legal, valuation, and global mobility expertise En bild som visar text, planet, Yttre rymden, rymden AI-genererat innehåll kan vara felaktigt. SAN FRANCISCO – Andersen is redefining the professional services landscape with the launch of Andersen Consulting, a global consulting practice that integrates innovative business strategy, digital transformation, and AI-driven technology solutions with Andersen Global’s world-class tax, legal, valuation, and global mobility expertise. Andersen’s conflict-free approach provides an independent alternative to traditional consulting models by putting a client–first commitment at the heart of our success. A New Era of AI-Driven, Multidimensional Consulting Today’s businesses face complex global challenges that demand more than conventional consulting services. Andersen Consulting offers a seamless, multidimensional approach that combines expertise in business transformation, artificial intelligence, cybersecurity, sustainability, and digital strategy with Andersen Global’s established tax and legal capabilities. This integration of emerging technologies positions Andersen Consulting as the partner of choice in the $1 trillion consulting industry. “Our clients are looking for innovative strategies to stay ahead in an evolving marketplace,” said Mark L. Vorsatz, Global Chairman and CEO of Andersen. “Andersen Consulting was built to help businesses navigate this transformation. In […]

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Once upon a time, chief financial officers were the suit-and-tie number crunchers keeping the books tidy and making sure the lights stayed on. In the era of artificial intelligence and digital transformation , however, the CFO is no longer just a steward of capital; they are architects of the future. “AI is one of the most exciting technologies we’ve seen in quite some time,” Brandon Nussey , CFO at Coveo , told PYMNTS during a discussion for the executive series “ A Day in the Life of a CFO .” “Whether it’s unlocking new revenue streams or driving internal efficiencies, CFOs are in a unique position to help businesses make the right decisions about how to leverage it.” The technological shift happening across the business landscape is more than just a philosophical evolution; it’s a fundamental transformation in how companies compete and operate. As AI and digital transformation advance, the finance chiefs who embrace change aren’t just keeping their companies afloat but also building the future. “I do think the role of the CFO is increasingly acknowledged as having a bigger seat at the strategic table,” Nussey said. “It’s become old-school thinking that CFOs are just number counters. There’s […]

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