MonthMay 2018

The Realities of Digital Transformation

​A new report by Alfresco, Digital Transformation: disrupt or be disrupted, casts an interesting light on the state of Digital Transformation at enterprises in the United States and the United Kingdom. Namely, that most IT stakeholder respondents believe organizations are taking too long to implement digital transformation initiatives, leaving the majority of small and medium sized companies at risk of being the disrupted, not the disruptor. In fact:

  • 87% of respondents said their business results would be impacted by a technically advanced competitor
  • And, 59% of IT stakeholders in companies with more than 5,000 employees say they are more likely to disrupt compared to 48% of those working in companies with 1,000 to 5,000 employees and 39% of those with less than 1,000 employees.

https://www.pslcorp.com/

The survey, which includes responses from over 300 IT executive across the US and the UK, was developed to uncover why some companies are adapting quickly to the digital world and others are facing immense challenges that leave them vulnerable to innovative and adaptive disruptors. More specifically, the survey looked at the challenges companies are facing in relation to digital transformation strategies, the industries that are facing the greatest challenges and the steps successful companies are taking to stay in the game and change how they approach business.

Overall, the report has made it clear that it isn’t just about technology and operating in a digital world, rather any digital transformation strategy has to clearly outline how the intended initiatives impact the work employees do and the way in which they view the company where they work. Leaving human resources out of the digital transformation does a disservice to employees and perpetuates an environment in which the status quo remains unchanged.

An overwhelming majority of respondents, 78%, believe that the human element is the most difficult part of the transformation, meaning culture, organizational structure, etc, and for good reason. While there was ample evidence to support this, each company will have to take a deeper dive into their own structures to see how to best support employees while implementing a digital transformation.

As a technology executive or as a tech employee in the midst of a digital transformation, it can be daunting to think about being disrupted instead of being the disruptor. However, as we’ve seen from this report and others, if you pay attention to the human element and apply change management practices that can clearly outline how the intended changes benefit each employee and make roles easier and more productive, you only have to worry about selecting the right technology.

Need help with your digital transformation? We’d love to have a 20 minute conversation about how we can help you achieve your strategy. More stories at: https://www.pslcorp.com/

Fusionex Powers up Digital Free Trade Zone (DFTZ) Platform

KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–Fusionex is leading a consortium to provide the e-services platform, powered by Big Data technologies, for the world’s first Digital Free Trade Zone (DFTZ) – a ground-breaking initiative jointly launched between the Malaysian Government and e-commerce marketplace titan, Alibaba.

With DFTZ being the brainchild of the Malaysian government, key drivers and stakeholders include the Ministry of Finance (MOF), Malaysia Digital Economy Corporation (MDEC), Ministry of International Trade and Industry (MITI), the Ministry of Transport (MOT), Royal Malaysia Customs Department, Malaysia Airports Holdings Berhad, POS Malaysia, the Malaysia External Trade Development Corporation (MATRADE), SME Corp, etc.

The DFTZ e-Services Platform is a trade facilitation platform that is integrated with other business service platforms and government service platforms, to facilitate a paperless, end-to-end and accurate data capture, data storage, data exchange and data analytics process, in respect of the high growth in internet trade activities.

fusionex ivan teh

The DFTZ will facilitate small and medium enterprises (SMEs) and merchants to capitalize on the internet community as well as the e-marketplace via a huge borderless addressable market. At the same time, these cost benefits and efficiencies inadvertently trickle down to consumers who would stand to enjoy faster, efficient and more cost-effective products and fulfillment.

At the DFTZ launch, Malaysian Prime Minister Dato’ Sri Najib Tun Razak declared, “We want to be the leader in the region for global trade. We want this to be the regional hub. We want SMEs to really grow by leaps and bounds and that can happen because of DFTZ. Digital Malaysia is the fastest growing sector in our economy. It is a sector that will enjoy double digit growth, and the sky is the limit! This (the DFTZ) is the part that will provide the growth, the potential, the impetus, the catalyst for us to change, redefine regional and global trade, redefine the role of SMEs, and redefine the partnership of Malaysia and China.”

The aim of the DFTZ is to capitalize on the convergence and exponential growth of the internet economy and cross-border e-commerce activities, by facilitating cross-border trade and enabling businesses to import and export goods with a priority for e-commerce.

To achieve this goal, the DFTZ will help businesses including SMEs expedite the transportation of goods regionally. For Phase 1, the DFTZ will set aside a section of the Kuala Lumpur International Airport (KLIA) Aeropolis for storage space and logistics facilities. This will then expand to other sites in subsequent phases.

During his keynote speech at the DFTZ launch, Alibaba Group Chairman and Founder Jack Ma commented, “I am impressed with Malaysia’s vision and speed. DFTZ and eWTP would help small businesses and individual eCommerce players benefit from global trade. Today we are witnessing that in Asia, small businesses can use digital ways to enable themselves to sell things, to buy things, to bridge moneys all across the world. Alibaba commits that we will make this thing – the first DFTZ, the first eWTP – very successful! This is not only an opportunity for Malaysia small businesses. This hub is a hope and opportunity for Asia’s young people and small businesses. It is the opportunity for Asia.”

Giving businesses access to the international market will result in a growing trend of orders and trades fueled by businesses not being confined to specific locations and time zones. The Prime Minister also highlighted that the DFTZ will create 60,000 new jobs and boost exports by SMEs to US$38 billion (MYR160 billion) by 2025.

The DFTZ is also expected to generate a huge amount of online transactions of orders, trade movements, payments, and more, coming in and going out of the country and region, hence the need for the platform to be powered by Big Data technologies.

Fusionex Ivan Teh, Fusionex Group CEO, says: “The DFTZ is a first of its kind digital hub that brings together a multitude of key parties including trade facilitation players, e-marketplace players, government agencies, logistics providers, freight forwarders, and of course, SMEs. The state-of-the-art e-Services platform is powered by, amongst others, Big Data technologies and Machine Learning that will facilitate trade and allow transactions to take place faster, more cost effectively, more reliably and more efficiently.

This visionary initiative by the Malaysian government and Alibaba will pave the way to a seamless digital trade platform that will help remove unnecessary barriers, reduce costs and minimize or avoid unnecessary delays and encumbrances. We are delighted that Fusionex’s platform will power this initiative. At Fusionex, we believe this marks the beginning of a revolutionary way to perform trade regionally and globally, at speed and at scale.” https://www.businesswire.com/news/home/20180122005852/en/IDC-MarketScape-Names-Fusionex-Major-Player