Business Chief APAC October 2020

APAC EDITION businesschief.asia

OCTOBER 2020

INNOVATION LABS IN APAC Business Chief APAC ranks its top innovation labs based on their founding year

Inside Standard Chartered’s Digital Transformation

How to develop an effective social media strategy

Modernizing Project Controls for the Digital Era How do you pivot to deliver the growth your company seeks tomorrow, without risking its ability to continue to deliver successful projects today?

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FOREWORD

W

elcome to the October issue

Elsewhere in the magazine, TCS

of Business Chief APAC.

explains the benefits of utilising strat-

This month’s cover features Lauro

egy consultants during global crises

Matias, CIO of EEI Corporation. Matias

such as COVID-19, while Andrew

discusses the technologies involved in

Duncan, Partner and UK Head at

its digital transformation, as well as its

Infosys Consulting, details the impact

response to COVID-19. “For me, digital

of COVID-19 from a talent strategy per-

business strategy is about the exten-

spective. “As the pandemic continues

sion of a company’s physical reality and

to disrupt operations and objectives,

capabilities using digital technology,”

the skills required to maintain business

comments Matias.

continuity are likely to remain in flux.

Other leaders that feature in the

Consequently, we will need to equip

magazine include Alan Chiew,

our employees with an all-purpose skill

Executive Director and Head of

set – one that will be useful no matter

Technology, Digital Channels at

how their specific role evolves in the

Standard Chartered Bank who talks

aftermath of the pandemic.”

about the bank’s transformation, sur-

In addition, this month’s Top 10 looks at

vival and success. While James

the top innovation labs in the APAC

Haslam, CFO at ELMO Cloud HR &

region, ranked on their founding year

Payroll discusses the company’s resil-

Do you have a story to tell? If you

ience, growth and expansion during

would like to be featured in an

the COVID-19 pandemic. “Our conver-

upcoming issue of Business Chief

gent solution offers a wide product

APAC please contact

suite to streamline our clients’ HR and

georgia.wilson@bizclikmedia.com.

payroll processes, but what really sets it apart is the truly remote nature of the products,” comments Haslam.

Enjoy the issue!

Georgia Wilson busi ne ssc hief. a s ia

03

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PRODUCTION MANAGER

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EDITOR-IN-CHIEF

Georgia Wilson EDITORAL DIRECTOR

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Kieran Waite Sam Kemp MARKETING DIRECTOR

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Justin Brand Ryan Hall Ben Maltby Mike Sadr Kris Palmer James Berry Stuart Irving Craig Killingback Thomas Livermore

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CHIEF OPERATIONS OFFICER

Stacy Norman PRESIDENT & CEO

Glen White

businesschief.asia

10 EEI Corporation: Digital Transformation in Construction

28 TCS: The Benefits of Strategic Consultants Amidst COVID-19

The Impact of COVID-19 on Talent Strategies

50

40 Jaggaer: Cloud Computing – The Benefits and Best Strategies

76

Capgemini Financial Services: RegTech

62

Developing an Effective Social Media Strategy

xx

APAC Innovation Labs

88

106 ELMO Cloud HR & Payroll

122 PZ Cussons

136 Transgrid

150 DOCOMO Pacific

EEI Corporation: Digital Transformation in Construction WRITTEN BY

WILLIAM SMITH PRODUCED BY

KRIS PALMER 10

OCTOBER 2020

11

busi ne ssc hi ef . a s ia

EEI CORPORATION

Lauro Matias, CIO of EEI Corporation, discusses the technologies involved in its digital transformation and its response to COVID-19

L

auro Matias is the CIO of the Philippines’ EEI Corporation, a leading construction company in the country. “First and fore-

most, we’re a general contractor company – the biggest one in the Philippines. Unlike engineering, 12

procurement and consulting firms, we do not end up owning or operating any of the property we have been tasked to construct, such as heavy civil infrastructure, electromechanical, petroleum refineries, beer-making and geothermal facilities, large building complexes, etcetera.”

AI and machine learning have played a significant part in predicting construction outcomes. “The primary algorithm we’re using considers multiple risk factors such as fluctuating prices, labour availability, weather and environment disruptions or major change orders, and then tells us whether or not we’re still going to make money at the end. Typically these projects last for about three years, so AI is invaluable. We’re exploring the use of machine learning studios available in AWS, Azure or GCP, trying to push it into the cloud. That’s OCTOBER 2020

13

busi ne ssc hi ef . a s ia

EEI CORPORATION

EEI Corporation Builder of a Better Future CLICK TO WATCH

|

4:40

14

“ Digital business strategy is about the extension of a company’s physical reality and strategic capabilities using digital technology” — Lauro Matias, CIO, EEI Corporation

because right now it’s running on laptops, where it might take days to process the information - and on any given day, we have something like 40 projects happening.”

Another AI use case comes in pedestrian simulation. “If you want to evacuate people, how long will it take from the farthest point? What happens if the fire’s in the middle? What happens if the fire spreads in, let’s say seven minutes, because of a petroleum spill?. Those things require simulation, and we’re using AI for that.”

OCTOBER 2020

Matias is overseeing the imple-

payroll time and attendance. Tableau

mentation of a comprehensive data

connects to our Primavera system,

strategy across the organisation. “We

the premier planning and scheduling

have field data collection, from mobile

software by Oracle.” That data is used

apps and IoT, for instance. Then we

to derive actionable insights. “We bring

have data governance and simula-

information up to Tableau so that we

tion. We use Tableau and Aufinia, a

can see and project into the future

Vietnam-based company which spe-

how many man hours and labour count

cialises in fraud analytics in terms of

we need, and the type of skills, trade

E X E C U T I V E P R O FILE :

Lauro Matias

15

Title: CIO

Company: EEI Corporation

Industry: Construction

Location: Philippines

Lauro MATIAS is the VP of IT for EEI Corporation, and a member of the IT council and the IT Governance Board of the Yuchengco Group of Companies. Prior to this, he was the CIO at Starbucks Philippines, the Global CIO for Jollibee Foods Corporation, and a senior IT expatriate of eight years - first as Asia Pacific VP IT at Lafarge Boral Gypsum Asia LBGA based in Shanghai, and then later based in Jakarta, with Indonesia’s Sinarmas Group of Companies, as VP and Chief IT Advisor for its palm oil and wireless telecoms divisions, and its mobile commerce business unit.

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17 and resources which are required. For

project sites are Synology drives that

example, how many plumbers do we

backup to AWS, so our backups are no

need? what type of equipment, how

longer tape drives, they’re backed up

much material is needed, and so on.”

on the cloud. We’re just launching with

“I have been a proponent of the

Office365 this month, and we’re using

cloud since I discovered elastic cloud

a cloud-based anti-spam system as

computing, offered by a company

well as digital signatures.”

not yet known to many as AWS, since

One of the core technologies

at the time, we still referred to the

deployed by the company is building

company as Amazon,” says Matias.

information modeling (BIM). “We’ve

Accordingly, he has made sure many

been a long time user of Autodesk, but

of EEI Corporation’s systems are

here BIM has never had the same sort

cloud-based. “We are using Oracle

of focus as in Singapore, for example,

for our ERP and migrated to its cloud

where the government itself is man-

ERP called Fusion. Our backups on our

dating the use of BIM. Our government busi ne ssc hi ef . a s ia

EEI CORPORATION

18

is still asking for real blueprints on

While new technology can some-

paper. As a general contractor, we are

times be a hard sell, such was the

in a strange position where Autodesk

excitement around introducing BIM

is helping us use BIM, not just for mod-

at EEI Corporation that teams across

elling the finished product, but also in

the company wanted to be involved.

developing siteworks more efficiently,

“Everyone wanted to be part of it,

so that we can reuse material for the

designers, architects, field engineers,

future. It’s a whole new ballgame, and

everyone,” enthuses Matias.

Autodesk have realised it’s something they can use worldwide as well.”

OCTOBER 2020

Like all companies, EEI has been affected by the ongoing COVID-19

19

“ It’s not just about physical health it’s also emotional health” — Lauro Matias, CIO, EEI Corporation

pandemic, especially so, given its role in the construction industry and the necessity of workers being on site. “Because we’re a construction company, we also have to look at resumption of construction, leveraging digital and virtual construction, the judicious use of barriers and so on. The typical measures in an office would be physical distancing and isolation. Our busi ne ssc hi ef . a s ia

EEI CORPORATION

Shaping the Future of Construction through Digital Transformation.

CIM Technologies is at the forefront in supporting digital transformation in Architecture, Engineering and Construction industry by offering technology solutions and services.

job was to make sure that we minimise the susceptibility of the worker to other illnesses that make them more vulnerable to COVID-19.” A number of strict personal hygiene measures have therefore come into place. “No open wounds, proper grooming, breathing

“ First and foremost, we’re a general contractor company” — Lauro Matias, CIO, EEI Corporation

exercises. It’s not just about physical health - it’s also emotional health. If you get stressed after picking up a heavy load, we have strict rest breaks to make sure that your temperature goes down.”

21

Technology has played a significant role in its response, such as altering the pre-existing method of clocking in. “Before COVID-19, our best way of measuring time and attendance was the handpunch - a technology which analyses hand and bone patterns to identify who you are. But now that would require surface contact, and would result in contamination happening left and right. What we did was create an in-house mobile app that scans employee’s QR-coded IDs, enabling contactless clock-in and clock-out.”

One thing which Matias evangelises passionately about is the busi ne ssc hi ef . a s ia

EEI CORPORATION

1931

Year founded

$23.6b+ Revenue in US dollars

24,457 22

Number of employees

difference between information technology and digital technology, and the ramifications that it has for businesses. Information technology refers to traditional corporate technologies, focused on durability, streamlining and the integrity of formats, while digital technology is consumer focused and pervasive, with often conflicting standards.

Adopting digital methods as a business is in vogue, but Matias sounds caution and has no truck with those who recommend the ‘uberisation’ of any kind of business they encounter.

OCTOBER 2020

23

busi ne ssc hi ef . a s ia

25

“Of the many speakers that talk

parking lots’. I don’t follow along with

about digital transformation, the one

advising everyone to become Uber.

type I am very disappointed with is

For me, digital business strategy is

the one that tells the audience to dis-

about the extension of a company’s

rupt, disrupt, disrupt and be like Uber,

physical reality and capabilities using

Amazon, AirBnB - without providing an

digital technology.”

embraceable framework on how to go

As for the future, Matias is not

about it. And so they lose their audi-

resting on his laurels, having devel-

ence very fast, who for the most part

oped a framework to help chart the

have brick and mortar businesses but

possibilities for where the com-

are being told to ‘crowdsource their

pany could go next for this new busi ne ssc hi ef . a s ia

EEI CORPORATION

26

OCTOBER 2020

“ I have been a proponent of the cloud since I discovered elastic cloud computing” — Lauro Matias, CIO, EEI Corporation normal. “My boss is the head of business transformation,” says Matias, “which includes IT, Innovation, and Corporate Development. The Business Transformation group has been tasked, not just with the transformation of EEI Corporation’s current construction operations and synergies, but in paving the way for the company to explore all possible ventures and adventures outside the construction industry space.

For EEI Corporation, this new normal is an opportunity to reinvent itself.”

busi ne ssc hi ef . a s ia

27

S T R AT E G I C C O N S U LT I N G

TCS: The Benefits of Strategic Consultants Amidst COVID-19 28

WRITTEN BY

GEORGIA WILSON

OCTOBER 2020

29

busi ne ssc hief. a s ia

S T R AT E G I C C O N S U LT I N G

Business Chief APAC speaks to TCS on developing an effective business strategy and the impact of COVID-19

W

orking alongside organisations in multiple business functions to identify ways to evolve their business and pro-

cesses, “a strategy consultant is an independent expert whose role is to advise, guide and support

an organisation through a period of change,” comments Dave Jordan, Global Head, Consulting & 30

Services Integration at TCS. “Due to their impartiality, a strategy consultant can see the bigger picture, advise on opportunities, potential roadblocks and changes in an objective manner and bring in best practice guidance from the wider industry,” enabling organisations to drive growth, unlock new revenue models, open up avenues for innovation or optimise the existing landscape to uncover new efficiencies.

When it comes to developing a business strategy, Jordan explains that “an effective strategy is one that addresses an organisation’s stakeholders’ unique needs and helps them stay true to their purpose. This includes leveraging established and emerging technology providers, spotting trends early, and investing in the latest innovations to create value for all stakeholders.” At its OCTOBER 2020

31

“ A n effective strategy is one that addresses an organisation’s stakeholders’ unique needs and helps them stay true to their purpose.”

— Dave Jordan, Global Head, Consulting & Services Integration at TCS busi ne ssc hief. a s ia

“ In just a few short months COVID-19 has changed the world.

The pandemic has had a worldwide impact, creating a ‘new normal’ unlike anything most of us have experienced in our lifetimes” — Dave Jordan, Global Head, Consulting & Services Integration at TCS

33

core, Jordan further explains that

this business and consultant partner-

TCS’ strategy is customer-centricity,

ship is vital for developing an effective,

with a focus on purpose and shared

ongoing business strategy.”

value. “We recognise that no two same – from the purpose they drive

THE IMPACT OF COVID-19 FOR THE STRATEGIC CONSULTING INDUSTRY

to the people they work with. We

Reflecting on the current impact of

work closely with customers and

COVID-19, Jordan believes that “the

use our contextual knowledge of

COVID-19 pandemic has affected

their business to offer bespoke

every single one of us and in every

business services and technology

walk of business. Strategic consult-

solutions. We see our role as that of

ants have had to be agile in their

trusted partner, strategic business

responsiveness, identifying short

advisor and technology consultant.

term trends that can deliver immediate

Ensuring a consultant establishes

business continuity and aid recovery,

enterprises or businesses are the

busi ne ssc hief. a s ia

S T R AT E G I C C O N S U LT I N G

34

C U R R E N T T R E N D S I N S T R AT E G I C C O N S U LT I N G

TCS’ recent study; How CIOs Are Helping Their Companies Navigate the Digital Ecosystem, found that there were two key trends that CIOs believed are essential to focus on; developing current customer knowledge and driving customer experiences. In fact, 75% see focusing on current customers and continually gaining more knowledge on them to

OCTOBER 2020

improve products and services as the most important driver and 72% of CIOs see improving the customer experience as the second most important area.

With strategic consultants working hand in hand with CIOs and other members of the c-suite, these are certainly t wo of the main trends that we’ve seen over the last 24 months.

while retaining focus on the long term

One of the major benefits that

horizon, where highly adaptive com-

Jordan sees in employing the services

panies and individuals will be the big

of a strategy consultant is their abil-

winners in the race to become part of

ity to remain objective and impartial

the new generation of essential busi-

in front of a business’s adversity and

nesses,” comments Jordan. “Just like

potentially difficult personnel deci-

the banks revolutionised in the 1990s

sions for the future. He explains: “A

and 2000s, competitive success will

strategy consultant is able to analyse

demand more than simply picking

the overall structure of the com-

the most obvious decision in the now.

pany and identify cost-saving areas

Speed is key to success, but only if

and ways to make processes more

the result is a strategically aligned

efficient; whether that is through inno-

and collaborative model, enabled by

vative technology or new procedures

highly integrated, streamlined systems

and ways of working.” Due to this

and infrastructure.”

impartiality “an organisation can be

Reset Your Post-COVID-19 Business Strategy CLICK TO WATCH

|

25:10

busi ne ssc hief. a s ia

35

S T R AT E G I C C O N S U LT I N G

confident that these recommendations are in the best interests of the overall business. Strategy consultants can also shepherd the organisation through complex change management exercises, to ensure successful outcomes.”

When it comes to providing this support following the outbreak of COVID-19, Jordan highlights that the current global pandemic is an excellent example of where strategy consultancy can be beneficial for both 36

global conglomerates and small to medium size enterprises. “In just a few short months COVID-19 has changed the world. The pandemic has had a worldwide impact, creating a ‘new normal’ unlike anything most of us have experienced in our lifetimes. This new reality has presented organisations with endless challenges and causes for concern. However, there are new opportunities emerging from this pandemic. A strategy consultant is able to identify these opportunities. They’re able to understand that every business should be revising its thinking on what makes its business ‘essential’ to consumers, what operational processes OCTOBER 2020

“ We recognise that no two enterprises or businesses are the same – from the purpose they drive to the people they work with” — Dave Jordan, Global Head, Consulting & Services Integration at TCS

and systems are ‘essential’ to deliver customer value, and what can be done to establish a reasonable price point and margin that encourages customers to part with less abundant income to purchases ‘essential’ goods and services. A strategy consultant has the ability to look at the situation from a purely objective point of view and advise on the best next steps.”

Since the outbreak of COVID-19, Jordan has seen multiple trends emerge. “The COVID-19 pandemic has pushed us into a new work order that is rendering obsolete age-old concepts such as location dependency; defined and fixed working hours; high-touch governance; and presenteeism as a prerequisite to optimal productivity. This will see the dawn of the distributed model.” One key feature Jordan has seen emerge is “Talent Clouds, a concept that pairs a business’s talent needs with people based anywhere in the world. This paves the way for organisations to derive exponential value through maximising opportunities and embracing risk. Keeping this model in mind will be essential for strategic consultants busi ne ssc hief. a s ia

37

S T R AT E G I C C O N S U LT I N G

“ Even before the COVID-19 pandemic, continuously sustaining business relevance and financial viability has been a challenge in a technology-driven, ultra-competitive global marketplace” 38

— Dave Jordan, Global Head, Consulting & Services Integration at TCS

as they begin to guide organisations through the new world order.” Other trends seen within the industry include

seen a proliferation of unconventional

sustainable businesses. “A great track

ecosystem models, turning competi-

record in running a business is no

tors into collaborators and creating

guarantee of success in adapting or

opportunities for co-innovation. Digital

transforming the business,” comments

transformation programs that had

Jordan “Even before the COVID-19

finite timelines are now being moved

pandemic, continuously sustaining

to perpetual transformation models –

business relevance and financial

where enterprises embrace constant

viability has been a challenge in a

transformation to realise incremental

technology-driven, ultra-competitive

value through agile implementations.

global marketplace. COVID-19 has

To make the reward worth the risk, it’s

OCTOBER 2020

39

important to ensure a company has

organisations and individuals need to

effective integration and separation

gear up for a period of fluidity in the

plans that quickly convert strategy

new normal. Although current, short

into tangible results. This has become

term needs have shifted, organisa-

increasingly important as we look to

tions need to continue building upon

recover from this pandemic.�

their strong digital technology foun-

Given the unpredictable nature of

dations to pursue certain economic

the virus, Jordan concludes that it is

behaviours. These include a focus

difficult to pronounce definite eco-

on purpose-centricity with near term

nomic and industry outcomes in the

adaptability and resilience delivered

future. “But directionally, it is clear that

through a strong digital foundation.� busi ne ssc hief. a s ia

TA L E N T S T R AT E G I E S

40

OCTOBER 2020

The Impact of COVID-19 on Talent Strategies WRITTEN BY

GEORGIA WILSON

busi ne ssc hief. a s ia

41

TA L E N T S T R AT E G I E S

Business Chief APAC explores the impact COVID-19 has had on talent strategies and how to develop an effective solution

S

ince the outbreak of COVID-19, organisations

around the world – whether big or small – have been impacted by the virus, and HR talent

strategies are no different.

“As the pandemic continues to disrupt operations

and objectives, the skills required to maintain business continuity are likely to remain in flux,” comments 42

Andrew Duncan, Partner and UK Head at Infosys Consulting. “Consequently, we will need to equip our employees with an all-purpose skill set – one that will be useful no matter how their specific role evolves in the aftermath of the pandemic.”

With organisations being thrown into a new era of technology due to COVID-19, Duncan adds that, “improving and enhancing digital and data literacy is central to this. Businesses that have delayed their journey to digitisation in the past will need to transform quickly. Employees must be equipped with the skills and the tools to cope with these rapidly scaling initiatives. Equally, companies will need to focus on building flexibility and agility within teams to work faster and better than ever before, to match the dramatic shifts in customer expectations.”

OCTOBER 2020

43

busi ne ssc hief. a s ia

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Agreeing with Duncan, Charles Pfauwadel, Vice President, Asia, Airswift

emerge in talent strategies as a result of COVID-19.

highlights a shift in focus from a hir-

“When it comes to technological

ing point of view. “Prior to COVID-19

innovations in talent strategies, I’m

conversations were centered around

particularly interested in the use of

how an organisation can hire and attract

AI to both virtualise and personalise

the best talent,” says Pfauwadel. “Now

L&D initiatives, moving away from the

the focus is less centered around hir-

one-size-fits-all programmes of the

ing, rather it is about retention – how do

past,” comments Duncan. “I anticipate

I keep my best people? How do I keep

increased development and investment

them engaged and provide flexibility?

in training platforms that learn your

The answer to these questions in terms

strengths, weaknesses, learning style

of technology tools, business strategies

and working preferences. These insights

and culture is going to be key.”

can be used to automatically suggest

When it comes to widespread dis-

suitable training courses and modules

ruption, one element born out of it is

to match your role, as well as adapting

innovation. With the outbreak forcing

the way your training is delivered. With

many organisations to rapidly transform

these tools, organisations have the

their operations to suit a remote and/or

ability to automate employee training

socially distant environment, both Ducan

programmes, saving significant time

and Pfauwadel have seen innovations

and costs in a difficult economic climate.”

“ As the pandemic continues to disrupt operations and objectives, the skills required to maintain business continuity are likely to remain in flux” — Andrew Duncan, Partner and UK Head, Infosys Consulting busi ne ssc hief. a s ia

45

TA L E N T S T R AT E G I E S

46

“ Now the focus is less centered around hiring, rather it is about retention” — Charles Pfauwadel, Vice President, Asia, Airswift

OCTOBER 2020

has allowed companies to onboard new employees while maintaining social distance and increased productivity due to taking less time to complete.”

Reflecting on the future of talent strategies, Duncan details that “with an evolving workforce and workplace comes a shift in defining, measuring and incentivising success – an important part of a talent strategy. Consequently, there may be a readjustment in productivity measures and personal KPIs. Lag indicators and traditional feedback 47 T O P T HREE TALEN T ST R AT EGY T REN DS

• Adoption of systems to provide feedback for performance and skills Adding to innovations seen by Duncan, Pfauwadel explains that “talent strategies have evolved a lot. We used to think that we needed to meet people face to face. However many companies are working full remote at peak performance and experiencing an increase in productivity. For example, organisations have deployed automation for their onboarding processes which

• Increase in coaching – particularly for top performing employees – to drive retention and progression • Increased f lexibility not only for employees, but in company operations, following the impact of COVID-19 Charles Pfauwadel, Vice President, Asia, Airswift busi ne ssc hief. a s ia

TA L E N T S T R AT E G I E S

mechanisms will likely be replaced with outcome-based performance metrics and measured personal development.

For example, rather than looking at time spent in the office, leaders can track the changing digital footprint of someone’s skill set evolving over time. Which means transparency is key. Business leaders should be clear about the new performance metrics and revised targets, so their team can anticipate their role in the COVID-19 recovery. Many employees are being asked to change direction; 48

don’t ask them to do it blindly.”

BEST PRACTICES FOR DEVELOPING A TALENT STRATEGY

some of the key features required to

When it comes to the best practices

implement an effective talent strategy:

With this in mind, Pfauwadel details

for developing a talent strategy, Pfauwadel explains that there are

• High quality onboarding process:

two key components for developing

which sets the theme for success

an effective talent strategy, “the first

and gives employees confidence

pillar is developing a genuine work-

in the company they have joined

place culture within the organisation,

• Structured two-year succession

in developing a solid culture organi-

plans for employees: which helps

sations can drive good recruitment

to improve retention

and better engagement with employ-

•K PIs that measure retention:

ees. The second pillar is aligning

which allows companies to evalu-

the talent strategy with a clear busi-

ate the effectiveness of their

nesses strategy.”

talent strategy

OCTOBER 2020

49

“ With an evolving workforce and workplace comes a shift in defining, measuring and incentivising success – an important part of a talent strategy” — Andrew Duncan, Partner and UK Head, Infosys Consulting

money, additional benefits and flexibility. Now we are seeing this change.

It’s less about the benefit, but more

Reflecting on the evolution of

about being the right fit, as well as

talent strategies over the years,

the culture and diversity, which have

Pfauwadel says that “the main differ-

become prominent in today’s envi-

ence we see is that a few years

ronment. As talent strategies evolve

ago, we were very much focused

I envision that there will be less

on benefits. In terms of how can

based on money and benefits and

we attract more people through

more based around culture.” busi ne ssc hief. a s ia

C O R P O R AT E F I N A N C E - R E G T E C H

50

OCTOBER 2020

Capgemini Financial Services: RegTech 51 WRITTEN BY

GEORGIA WILSON

busi ne ssc hief. a s ia

C O R P O R AT E F I N A N C E - R E G T E C H

Business Chief speaks to Elias Ghanem, Head of Market Intelligence, Capgemini Financial Services, on the capabilities of RegTech and the impact of COVID-19 WHAT IS REGTECH? RegTech is defined as the management of regulatory processes in the finance industry with the use of technology. Its main functions include regulatory 52

monitoring, reporting, and compliance via the use of cloud computing technology and software-asa-service (SaaS) to help businesses comply with regulations. Other technologies used within the industry include: Big Data, real time analytics, artificial intelligence, automation and Blockchain.

Within the industry, Deloitte believes that “RegTech promises to disrupt the regulatory landscape by providing technologically advanced solutions to the ever increasing demands of compliance within the financial industry.”

“ RegTech promises to disrupt the regulatory landscape” — Deloitte

OCTOBER 2020

53

busi ne ssc hief. a s ia

With such promise emanating from the industry, the consultant company defines the five key focus areas: 1. Regulatory reporting: allowing the industry to automate data distribution and regulatory reporting process via big data analytics, real time reporting and cloud.

2. Risk management: provides the industry with the ability to detect

“ Between 2009 and 2012, 50,000 new financial sector regulations were implemented between this period, which doubled further by 2015� — Elias Ghanem, Head of Market Intelligence, Capgemini Financial Services

compliance and regulatory risks, assess risk exposure and antici55

pate future threats.

3. Identity management and control: to facilitate counterparty due diligence and know your customer (KYC) procedures. The capability also helps with anti money laundering (AML) and anti-fraud screening and detection.

4. Compliance: provides the capability to monitor and track the current state of compliance and upcoming regulations in real time.

5. Transaction monitoring: provides real time transaction monitoring and auditing solutions that leverage Blockchain and cryptocurrency technology. busi ne ssc hief. a s ia

C O R P O R AT E F I N A N C E - R E G T E C H

TOP THREE TRENDS IN THE REGTECH INDUSTRY

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Investments to increase: During Q1-Q3 2019, RegTech reported 103% YoY growth. 2020 will most likely witness the same momentum as corporate data breaches, consumer privacy concerns, and a wave of new GDPR-like regulations will create demand for technology tools that help enterprises meet compliance challenges.

Scaleups to lead: 2020 is expected to witness the RegTech companies move out of the innovation phase and focus on industrialisation of concepts.

OCTOBER 2020

With banks struggling with lower profitability and high cost pressures, scaleups in the RegTech industry are expected to witness higher traction.

AI at the forefront: Use of specialised, emerging and advanced technologies, such as AI, robotics process automation, and data analytics is poised to gain more traction.

Elias Ghanem, Head of Market Intelligence, Capgemini Financial Services

When it comes to the best strategy

needs for the outcome, the adoption

for adopting these RegTech solu-

strategy will vary from bank to bank.

tions, Elias Ghanem, Head of Market

“In most cases it has to be a mix of the

Intelligence, Capgemini Financial

three methods.”

Services explains that “there is no

However, with the recent outbreak

one size fits all strategy for banks and

of COVID-19, Ghanem details that

other financial institutes to choose

“the tendency at corporate level dur-

the way to adopt RegTech. They have

ing uncertain scenarios is to reduce

three methods to choose from – Build

big ticket investments. Thus, financial

(internally in-house), Buy (acquire

service firms will be keen to collabo-

a RegTech firm), or Collaborate.”

rate rather than building solutions

Depending on their internal capabil-

themselves, in order to speed up the

ity, time and resource availability, and

process and cut losses emerging out

the autonomy and differentiation

of managing risk and compliance.”

Explore the frontiers of the RegTech Universe CLICK TO WATCH

|

2:29

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57

C O R P O R AT E F I N A N C E - R E G T E C H

WHAT ARE THE BENEFITS OF REGTECH? When it comes to the benefits of RegTech, Ghanem details that, “banks are struggling to keep up. Between 2009 and 2012, 50,000 new financial sector regulations were implemented between this period, which doubled further by 2015. In such a scenario, RegTechs offer multiple benefits.”

Such benefits include process improvements, “RegTechs standardise and automate processes, making them clearer and better defined. As a 58

result they reduce internal operational risks by minimising the possibility of incurring violations related to human error,” notes Ghanem. Other benefits include cost synergies. With one third of banks looking to expand their compliance teams and two thirds looking to increase their budget, Ghanem highlights the expectation that “RegTechs will help banks to drive cost optimisation. For instance, utilising RegTech to automate KYC checks could result in US$1bn cost savings for banks by 2024.” In addition to process improvements and cost synergies, “RegTech solutions can also decrease the processing time, thus helping the banks to OCTOBER 2020

“ RegTechs standardise and automate processes, making them clearer and better defined” — Elias Ghanem, Head of Market Intelligence, Capgemini Financial Services

T O P 1 5 R E G T E C H C O M PA N I E S

Regulatory reporting Alessa April Software AQMetrics Risk management 360factors Albany Group AlgoDynamix Identity management and control Accuity Actimize Agreement Express Compliance 6clicks 8of9 Abside RegTech Transaction monitoring Analyze N Control Allagma Technologies Alto Source: Deloitte

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59

C O R P O R AT E F I N A N C E - R E G T E C H

offer seamless and improved experiences to their customers,” he explains.

However, Ghanem details that while there are many benefits, RegTechs do come with their own set of challenges which shouldn’t be overlooked. “A key challenge in adopting RegTech is data security, followed by integration issues.” According to Capgemini’s World Retail Banking Report 2020, over 70% of banking executives highlighted data-related security concerns as a challenge to collaboration.

60

“ Due to the pandemic, there has been an uptick in financial fraud and call spoofing.

In the United States alone, high-risk calls were up by 30% after three weeks starting March 16” — Elias Ghanem, Head of Market Intelligence, Capgemini Financial Services

THE IMPACT OF COVID-19 ON THE FINANCIAL AND REGTECH INDUSTRY “While COVID-19 has brought about uncertainty in all businesses,” and has certainly “impacted the funding of startups in different sectors including RegTech firms.” Ghanem believes that overall, “RegTechs seem poised to gain from this disruption. Due to the pandemic, there has been an uptick in financial fraud and call spoofing.

In the United States alone, high-risk

OCTOBER 2020

61

calls were up by 30% after three

led to a proliferation of RegTechs and

weeks starting March 16. Thus, banks

the increasing interest in firms spe-

and other financial service institutions

cialising in regulatory and compliance

will be keen to rely on RegTech for

solutions. This trend is now acceler-

robust regulatory systems to monitor

ated due to COVID-19, with executives

market activity and swiftly act on non-

of financial service firms feeling that

compliant or fraudulent transactions.�

risk and compliance are the most

In addition “with changing regulatory

important focus areas post COVID-19

scenarios such as the GDPR and

for sustainable business growth (67%),

evolving compliance requirements,

indicating the importance of identify-

incumbents have been exploring

ing threats and being prepared to

ways to adapt in real time. This has

ensure business continuity.� busi ne ssc hief. a s ia

S O C I A L M E D I A S T R AT E G Y

Developing an Effective Social Media Strategy WRITTEN BY

62

OCTOBER 2020

GEORGIA WILSON

63

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S O C I A L M E D I A S T R AT E G Y

Business Chief takes a look at how organisations can develop an effective social media strategy, and the benefits of having one

A

ccording to Deloitte, every minute over

4mn people in the world ‘like’ a post on Facebook, more than 1.5mn on Instagram

and 350,000 on Twitter. Combine these figures

64

with the continuously advancing capabilities of smart technology and connectivity, along with the development of 5G, social media channels are increasingly becoming a point of contact for customers and brands. “To meet these expectations, companies must adapt to the requirements of clients and adjust their social communication to current trends. If they fail to do so, consumers will simply enter into a dialogue with another brand,” says Deloitte.

WHY DEVELOP A SOCIAL MEDIA STRATEGY? There are many reasons why organisations should develop a social media strategy. The channels are not just for posting; they are also a useful platform to drive advertising, marketing, communication and sales.

OCTOBER 2020

65

busi ne ssc hief. a s ia

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“ Companies must adapt to the requirements of clients and adjust their social communication to current trends, if they fail to do so, consumers will simply enter into a dialogue with another brand” — Deloitte

In its report, Deloitte details that a dedicated social strategy will allow organisations to: • Plan content • Develop and maintain a brand identity, as well as distinguish that identity from potential competitors • React to potential crises • Increase competitor visibility • Build customer loyalty

HOW TO BUILD A SOCIAL MEDIA STRATEGY When it comes to building an effective social media strategy, Deloitte and Hootsuite highlight four key elements for building a social media strategy.

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67

S O C I A L M E D I A S T R AT E G Y

68

Aligning the strategy with the overall business goal

Understanding the audience and the competition

Whether an organisation’s goal

When implementing a social media

is to improve customer support,

strategy it is important to use the

or drive sales via marketing,

data available, as “knowing who your

Hootsuite explains that “the first

audience is and what they want to

step to creating a winning strategy

see on social media is key,” notes

is to establish your objectives and

Hootsuite. While many would believe

goals. Without goals, you have no

Facebook is ideal for reaching Baby

way to measure success and return

Boomers, Hootsuite reports that

on investment (ROI).”

there are more millennials than Baby

The best way to achieve this is by

Boomers on the platform. Therefore,

establishing S.M.A.R.T goals that are

understanding who is using what plat-

Specific, Measurable, Attainable,

form and what they want to see is vital

Relevant and Time sensitive.

for an effective strategy.

How to Create a Successful Social Media Strategy CLICK TO WATCH

OCTOBER 2020

|

2:02

V I S A’ S T O P 6 G U I D E L I N E S F O R D E V E L O P I N G O R I M P R O V I N G A S O C I A L M E D I A S T R AT E G Y I N F I N A N C E

1. Create content that describes account services such as account security, financial planning and changes to existing products 2. Partner with bloggers, journalists or influencers to promote your brand 3. Develop and promote materials that educate consumers on initiatives, thought leadership and educational resources

4. Ensure your content is optimised for each channel 5. Use consistent voice, tone and messaging across all communications and marketing 6. Drive positive conversations about your financial institution through proactive consumer outreach 69

“ The first step to creating a winning strategy is to establish your objectives and goals” — Hootsuite

Part of developing a social media strategy should also involve competitor analysis. Hootsuite explains that

While each platform has its own

this is an easy way to identify what

rules, Deloitte highlights that it is also

works and what doesn’t on social

important to have coherence on every

media for a given sector.

platform, avoiding discrepancies. calling the hotline, contacting via the

Maintaining regular communication for each platform

form on the website, writing a letter

Having a social media presence brings

or making a phone call to Messenger,

a certain level of responsibility as an

the message must be coherent.”

organisation. In Deloitte’s report, the

“Regardless of whether the client is

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S O C I A L M E D I A S T R AT E G Y

70

company stresses the importance of

Evaluating and adjusting the strategy

not neglecting an account. “Lack of

Once a strategy is developed and

regularity will give the impression

implementation begins, it is vital that

of a lack of professionalism and can

organisations track and analyse the

be taken as a disregard for its own

results of the strategy. Hootsuite

clients.” Both Deloitte and Hootsuite

highlights that “you can’t assume

explain that a content calendar can

you’ll get it exactly right on the first

help maintain regular publishing.

try. As you start to implement your

OCTOBER 2020

71

plan and track your results, you may find that some strategies don’t

THE TOP BENEFITS OF DEVELOPING AN EFFECTIVE SOCIAL MEDIA STRATEGY

work as well as you’d anticipated, ter than expected.” As a result it is

Brand awareness, brand loyalty and brand authority

important to analyse, re-evaluate,

Blue Fountain Media, a digital mar-

test and refine the strategy based

keting agency in New York, explains

on the outcome.

that social media is one of the most

while others are working even bet-

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S O C I A L M E D I A S T R AT E G Y

“ Lack of regularity will give the impression of a lack of professionalism and can be taken as a disregard for its own clients” — Deloitte cost-efficient digital marketing methods to increase a brand’s visibility.

“Implementing a social media strategy will greatly increase your brand recog72

nition since you will be engaging with a broad audience of consumers.”

The agency reports that by investing only a few hours per week, 91% of marketers said that their social marketing efforts significantly increased their exposure.

Brand loyalty, brand authority and

communicate directly with the business”, says Blue Fountain Media. The

customer satisfaction are typically

company also adds that “regularly

intertwined. As such, the importance

interacting with customers demon-

of regular engagement with custom-

strates that your business cares about

ers and developing a bond is crucial.

customer satisfaction, and is available

“Social media is not just limited to

to answer any questions that they might

introducing your brand’s products

have. Satisfied customers are eager to

and promotional campaigns.

spread the word about a great product

Customers see these platforms as

or service and they usually turn to

a service channel where they can

social media to express their opinion.”

OCTOBER 2020

your marketing mix is a gateway to your website, and every piece of content you post is another opportunity to acquire a new customer,” says Blue Fountain Media.

While social media doesn’t directly improve SEO ranking, Social Media Examiner reports that more than 58% of marketers using social media for one or more years see improved search engine rankings. “Being able to rank in the top positions for your keywords will revolutionise your traffic and continue to generate positive results for your business,” adds Blue Fountain Media.

Higher conversion rates and better customer satisfaction Increased traffic and improved SEO ranking

With the increased visibility gained

By harnessing social media platforms,

ence, every blog post, image, video, or

organisations can expand their reach,

comment could lead to a view on an

instead of limiting their inbound traf-

organisation’s website and increase

fic to direct or search engine traffic.

the traffic. “Over 51% of marketers

“Without utilising social media as part

claimed that taking the time to develop

of your marketing strategy, you’ll have

relationships with consumers showed

much more difficulty reaching anyone

positive results in sales. The better

outside of your loyal customer circle.

impression you make on a visitor, the

Every social media profile you add to

more likely they are to think of your

from creating a social media pres-

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73

S O C I A L M E D I A S T R AT E G Y

“ Regularly interacting with customers demonstrates that your business cares about customer satisfaction” — Blue Fountain Media

74

OCTOBER 2020

business when the need for your

Finally, establishing a social media

product or services arises. Studies

presence creates a voice for organi-

have also shown that social media

sations and humanises the brand.

has a 100% higher lead-to-close rate

“Customers appreciate knowing that

than outbound marketing,” notes Blue

when they post comments on your

Fountain Media.

pages, they will receive a personalised response rather than an automated message. Being able to acknowledge each comment shows that you are attentive of your visitors’ needs and aim to provide the best experience.”

75

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CLOUD COMPUTING

76

Jaggaer: Cloud Computing – The Benefits and Best Strategies WRITTEN BY

OCTOBER 2020

GEORGIA WILSON

77

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CLOUD COMPUTING

Business Chief speaks to Thomas Dieringer, President of JAGGAER EMEA on the benefits, best strategies and the impact of COVID-19 for cloud computing

W

hen cloud computing first entered the mainstream in the late 90s, Thomas Dieringer, President of JAGGAER

EMEA saw several definitiations for the technology and its application. “Oxford Dictionaries defines cloud computing as using a network of remote servers hosted on the Internet to store,

78

manage, and process data, rather than a local server or a personal computer,� he states.

One of the significant benefits of cloud computing detailed by Dieringer is the capacity for individuals to log on to a system any place in the world and work on documents, pitches, business opportunities or approve multi-million-dollar contracts.

Other key benefits of the technology are centered around cost, performance, security, speed, productivity, and reliability. “From a cost perspective, the initial expense of setting up hardware and software can be eliminated, as can the need for large onsite data centres. The cost associated with running these can be pervasive when you consider 24-hour electricity and cooling, a team of experts, and the

OCTOBER 2020

79

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“ Companies that invest in big data, cloud, mobility, and security enjoy up to 53% faster revenue growth than their competitors” — Thomas Dieringer, President, JAGGAER EMEA

areas should be considered for successful implementation and usage.

Some considerations include expertise and compliance - which have grown in prominence in recent years - governance, and migration.”

With “companies that invest in big data, cloud, mobility, and security enjoy up to 53% faster revenue growth than their competitors,” a large number of companies are investing and implementing the technology within

various servers. Performance-wise,

their operations benefiting from cost

cloud computing runs on a network

savings, increased collaboration, quality

of secure data centres, using the lat-

control, and loss prevention, Dieringer

est, and fastest, computing hardware.

also notes that, “during COVID-19 it

This also promotes higher speed,

has also proved imperative from a dis-

with companies able to access vast

aster recovery perspective, ensured

amounts of resources. At the same

automatic software updates, and

time, from a productivity perspective,

perhaps most importantly, created

IT teams are less restricted due to not

a competitive edge.”

having to deal with large amounts of

for greater continuity and can also

THE BEST STRATEGY FOR ADOPTING CLOUD COMPUTING TECHNOLOGY AND THE IMPORTANCE OF THE RIGHT WORKPLACE CULTURE AND MINDSET

help reduce costs.” However, with

When it comes to adopting cloud com-

these benefits Dieringer notes that

puting technology, Dieringer explains

while “the benefits of cloud computing

– using procurement as an example

far outweigh the challenges, certain

– that first and foremost “instead of

hardware,” comments Dieringer, adding that, “using the cloud is also more reliable. Backup and recovery allows

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81

CLOUD COMPUTING

“ The very essence of cloud computing is the ability to adapt to current market conditions by being agile and have the ability to up or downscale as the business requires” — Thomas Dieringer, President, JAGGAER EMEA

sinking time, money and resources

into developing a solution to cover all existing processes, procurement can get more out of new software solutions by first delivering a Minimum Viable Product (MVP) that covers

82

TOP FI V E C LOUD COM PU T I N G T R EN D S IN 2020

1. Multi and hybrid cloud environments will continue to grow 2. Retaining compliance in an increasingly complex environment 3. Organisations will make it a priority to control cloud costs 4. Solution-focused partners

roughly 70% of the essential business requirements and processes first.

Once the team has started working with the new SaaS solution, you can strategically evaluate which of the remaining 30% of your processes you would like to cover.”

The next key aspect that Dieringer believes is worth remembering is that “implementation projects may take several months to complete. By focusing on achieving quick wins first, you and your team will be able to see the cost savings, a return on your investment, sooner.” In addition, in order

5. A Continued shift to tech on demand

“to avoid a low user acceptance rate

Source: VNT

project managers need to manage employee expectations with internal project marketing. Deliver an MVP and

OCTOBER 2020

The JAGGAER ONE Platform CLICK TO WATCH

|

2:21

83 make it clear that this is not the final

method that can help contain costs

product; elicit input from stakeholders

and reduce risks based on the ‘win

and users and build their suggestions

fast or fail fast’ principle.”

into the next iteration of the project.”

Ultimately Dieringer highlights

Circling back to an early part in Dieringer’s best strategy for cloud

that “digital transformation is about

computing adoption, he further

more than digitising existing manual

reiterates the importance of hav-

processes. Every function and depart-

ing the right mindset and culture.

ment that will be working with the final

“Approaching a large IT implemen-

solution should be included in both the

tation project can be a daunting

initial discussion and the subsequent

prospect. In addition to managing

sprint reviews. Finally to ensure that

the expenses, timelines, logistics

implementation projects stay on time

and vendors, you have to consider

and within budget, it is important

change management and user

to choose the right implementation

expectations. To overcome many of busi ne ssc hief. a s ia

CLOUD COMPUTING

the issues, first look to gain valuable input from actual end users during the design phase of a new IT project.

By getting a more accurate understanding of what end users need from a solution not only can you set expectations accordingly, you can also reach all of your goals more quickly.”

Dieringer goes on to explain that while “making sure you have the right team available to handle a project might seem like an obvious requirement, it can often go overlooked. Having the 84

right size team is only half the battle. The second step is ensuring that you have the right people filling those seats. Keeping the team small and powerful can keep projects moving quickly without overworking individuals or overcomplicating staff meetings.

Finally, focus on the outcomes, not internal history, politics, or processes to ensure successful implementation.

Use best practice examples, advice from experts, and partners with experience within the industry to support your implementations. To avoid restricting the development and the financial investment associated with it, refrain from looking inward to the organisation.”

OCTOBER 2020

85

“ To avoid a low user acceptance rate project managers need to manage employee expectations with internal project marketing” — Thomas Dieringer, President, JAGGAER EMEA busi ne ssc hief. a s ia

CLOUD COMPUTING

TO P F OUR GA RT N ER TREN D S I M PACT I N G THE AD OP T I ON C LOUD C OM P UT I N G

1. Cost optimisation will drive cloud adoption 2. Multicloud will reduce vendor lock-in 3. Insufficient cloud IaaS skills will delay migrations 4. Distributed cloud will support expanded service availability 86

Source: Gartner

THE IMPACT OF COVID-19 FOR THE CLOUD COMPUTING INDUSTRY

infrastructure. Throughout the world,

When it comes to the impact of

result of COVID-19, regardless of the

COVID-19 for the cloud computing

industry, was the supply chain. Those

industry, Dieringer highlights that “there

directly responsible for the supply

has undoubtedly been an enormous

chain are those within the procure-

spike in the use of cloud computing as

ment and supply chain department.

a result of COVID-19. You only have

An extra barrier for those organisa-

to look at the uptick in the number

tions operating on-premise ERP, was

of people and companies using tools

the implementation of remote working

such as Microsoft Teams or Zoom,

conditions, resulting in many people

to appreciate just how much of an

unable to access their organisation’s

impact this will have had on cloud

network. The very essence of cloud

OCTOBER 2020

one of the largest areas impacted as a

computing is the ability to adapt to current market conditions by being agile and have the ability to up or downscale as the business requires.

Organisations considering implementing a cloud-based system or upgrading will almost certainly be looking to do this as a priority now.”

As with any major disaster, Dieringer details that while short term digital strategies and transformation projects may be put on hold in order to focus on the prevention of COVID-19, looking to the future Dieringer believes that “companies will take time to take stock and develop new plans and strategies to begin the first tentative steps to recovery,” and “cloud computing will

“ There has undoubtedly been an enormous spike in the use of cloud computing as a result of COVID-19”

play an essential role in that recovery.

For companies already adept at using cloud, they will look at additional ways of utilising it further. Those yet to embrace will undoubtedly implement the many cost savings, and ease of working it affords.”

— Thomas Dieringer, President, JAGGAER EMEA

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T O P 10

88

OCTOBER 2020

APAC Innovation Labs Business Chief APAC ranks its top 10 APAC innovation labs based on its founding year WRITTEN BY

GEORGIA WILSON

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89

T O P 10

90

10

Telstra Labs [ AUSTRALIA ]

Founded in 1923, Telstra Lab is Telstra Corporation’s home for technology and innovation. “Innovation is how we make things better,” states Telstra Lab. “It’s how we push technology to be more human, turn big ideas into new realities, and glimpse into what the future could hold. And at times, that can get complicated.” Telstra Labs provide the organisation with a safe environment to test, trial, experiment and explore innovations. In its labs, Telstra holds Australia’s first publicly-accessible Internet of Things (IoT) Lab which has been designed to build an IoT product design community.

OCTOBER 2020

09

91

ThoughtWorks

[ AUSTRALIA / SINGAPORE ]

Founded in 1993, ThoughtWorks innovation lab works with organisations to help them thrive in a complex digital world, by driving digital innovation in their business models. ThoughtWorks harnesses crossfunctional teams of strategists, developers, data engineers and designers, and more than 25 years of experience in global software delivery, to drive game-changing products and services. “With our roots in custom systems and agile software delivery, we’re at the forefront of defining the tech principles used by some of the world’s most successful organisations,” says ThoughtWorks.

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We organize data everywhere, to keep the world working We use our experience so you can quickly extract value from your critical data anytime, anywhere

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We optimize data infrastructure to improve performance & control costs across the full IT environment, while assuring data availability and security

We integrate connecting today’s data infrastructure with tomorrow’s technology, and ensuring data quality, to fuel AI, machine learning and predictive analytics

Learn more at www.syncsort.com

We advance pushing the boundaries of what data can do by building products that make data more useful – helping you solve for the present and prepare for the future

T O P 10

08

93

Samsung Strategy and Innovation Centre [ SOUTH KOREA ]

At Samsung’s Strategy and Innovation Centres, founded in 2012, the organisation drives global innovation for artificial intelligence (AI), digital health, the Internet of Things (IoT), autonomous mobility, data centre infrastructure, security and privacy. Samsung’s Strategy and Innovation Centre helps to accelerate the company’s entry into new business areas via research, innovation and researching new opportunities. “We invest strategically in companies who are as committed to solving big problems as we are,” says the Samsung Strategy and Innovation Centre.

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T O P 10

94

07

FinoLab [ JAPAN ]

FinoLab is ‘the fintech centre of Tokyo’. Founded in 2016, FinoLab was designed to develop Japan as a leader in realising the future of the financial services industry. FinoLab’s vision is to create an infrastructure, environment, or ecosystem in Japan to produce the world’s best financial innovation. As part of its vision, FinoLab aims to stimulate innovation in financial technology in Japan by supporting the growth of fintech startups, and developing a new service solution and global standard.

OCTOBER 2020

06

95

Paypal Innovation Lab [ SINGAPORE ]

Founded in 2016, Paypal Innovation Lab in Singapore provides various programs for developers, students and innovators to shape the future of payments. With a belief in using science and technology as an enabler for serving business needs, Paypal’s Innovation Lab Singapore aims to perform game-changing fintech research using computer science, computer engineering, and information systems experts. Paypal Innovation Lab partners with higher learning institutes to nurture the next generation of fintech researchers and talents.

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Pack the essentials for your business trip: Laptop Charger Business insights Payment solutions

From T&E expertise to business insights to payment solutions, the American Express Corporate Program gives you all the tools and services you need, so you’re fully prepared for business wherever you are.

To learn more about the American Express Corporate Program, visit www.americanexpress.com.

T O P 10

05

97

KPMG Digital Village [ SINGAPORE ]

To drive innovation for businesses, KPMG established its Digital Village in Singapore in 2016. As part of the Digital Village’s operations the ecosystem matches, fosters and forges innovation ventures between companies and startups, adopting a challengefocussed approach to growing innovative ideas. The creation of the Digital Village was KPMG’s response to industry leaders calling for an innovative ecosystem that incubates, accelerates and commerialises new ideas.

busi ne ssc hief. a s ia

T O P 10

98

04

Sony Innovation Fund [ JAPAN ]

Founded in 2016, Sony Innovation Fund invests in companies to join its innovation journey. Sony Innovation Fund is dedicated to engaging with early stage companies. “Beyond investment, our mission is to provide access to the broader Sony world and its global network and collaborate with startups to: foster business creation in new and existing areas of interest to Sony; catalyse a talented and passionate team; develop innovative and scalable technology; and explore new and emerging ecosystems,� says Sony Innovation Fund.

OCTOBER 2020

03

99

Expedia Innovation Lab [ SINGAPORE ]

Founded in 2017, Expedia established one of its many innovation labs in Singapore to drive consumer research development in the APAC region. The Lab harnesses scientific methods, including eye tracking and electromyography (EMG) technology, to understand Asian consumers’ online and app behaviour. This analysis helps Expedia to make informed decisions when it comes to future innovations and technology developments globally.

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6 Ways to Reduce Complexity and Unleash Speed

Combining on-premises IT resources with cloud brings unparallelled flexibility and scalablity to your business – but the resulting hybrid IT environment introduces complexity and obstacles that can create operational friction and slow you down

Bring speed and agility to your business: Here are 6 ways HPE software-defined and hybrid cloud solutions remove IT friction across your hybrid environment so you can streamline operations and accellerate business innovation.

Software-defined intelligence

Composable infrastructure

Automate tasks, speed app deployment, and streamline IT

Compose and recompose IT services quickly for any workload

Hyperconverged infrastructure

Hybrid Cloud management

Compose and recompose IT services quickly for any workload

Simplify multi-cloud management and gain insights across your clouds

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Red Hat APAC Open Innovation Labs [ SINGAPORE ]

Founded in 2017, Red Hat APAC Open Innovation Labs help organisations to use innovative open source technologies to rapidly build prototypes, conduct DevOps, and adopt agile development.

Red Hat APAC Open Innovation Labs drives collaborative engagement to define an innovative path for organisations to drive value, as well as solving legacy or new challenges. Red Hat APAC Open Innovation Labs prides itself on its ability to drive disruption, kick-start transformation, and facilitate state-of-the-art application development and DevOps.

OCTOBER 2020

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Open Innovation Labs APAC. Innovate Now. Innovate Anywhere CLICK TO WATCH

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1:37

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A tour at Huawei’s R&D campus reveals that the Chinese giant has started work on 6G CLICK TO WATCH

OCTOBER 2020

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4:08

105

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Huawei Innovation Lab [ SINGAPORE ]

Launched in 2019, Huawei’s Cloud and AI Innovation Lab in Singapore is designed to cultivate local AI talents, connect Singapore with state-of-art AI technologies globally, and accelerate cloud & AI innovations. Aligning with Singapore’s Smart Nation initiatives, Huawei strives to bring the benefits of digital transformation, cloud migration, and intelligent information, as well as trusted and secure partners and technology to the region.

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Digital Innovation in Cloud HR and Payroll OCTOBER 2020

107

WRITTEN BY

MARCUS LAWRENCE PRODUCED BY

GLEN WHITE

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ELMO CLOUD HR & PAYROLL

James Haslam, CFO at ELMO Cloud HR & Payroll discusses resilience, growth and expansion during the COVID-19 pandemic

A

dopting cloud-based software solutions in recent years has become an everyday strategy for companies around the world.

The benefits of sourcing external technologies include increased automation, reliability, flexibility, scalability, cost-reduction and efficiency. These 108

benefits dwarf the inefficiencies of manual process or expensive on-premise infrastructure. The case for digital transformation to the cloud as a solution for business challenges is clear.

During the COVID-19 pandemic, businesses at every stage of their digital transformation journey have become increasingly reliant on cloud-based technology solutions to manage operations, remain in close contact with employees, suppliers, and clients, and minimise operating costs.

Australia-based ELMO Software is emblematic of a Human Capital Management (HCM) solutions provider that has taken the pandemic’s pressures in its stride, offering seamless service to its clients throughout. An increase in engagement and reliance on the platform through the recent period indicate the tailwinds in the broader adoption of OCTOBER 2020

109

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ELMO CLOUD HR & PAYROLL

“ Our convergent solution offers a wide product suite to streamline our clients’ HR and payroll processes, but what really sets it apart is the truly remote nature of the products” — James Haslam, Chief Financial Officer, ELMO Cloud HR & Payroll 110

HCM software as businesses seek to accelerate their digital transformation strategies to manage a larger remote workforce. This dynamic is also playing out in the UK market where ELMO is eyeing expansion plans.

James Haslam, Chief Financial Officer (CFO), says the pandemic has been a remarkable indicator of both the benefits and reliability of ELMO’s convergent hire-to-retire suite of people management solutions. “Our convergent solution offers a wide product suite to streamline our clients’ HR and payroll processes, but what really sets it apart is the truly remote nature of the products,” he explains, noting that HCM solutions have now become mission-critical to organisations during lockdown.

“COVID-19 is a really good case study in terms of the criticality of having an HCM solution in your toolkit which can be implemented, supported and accessed remotely. If you think about it, things like financials and CRM have had cloud-based solutions for a while.”

Cloud-based HCM, meanwhile, is later in the adoption curve, Haslam explains.

“One of our biggest competitors is manual process, and one of the biggest

OCTOBER 2020

ELMO Corporate Video CLICK TO WATCH

|

3:59

111 benefits of companies shifting to the

cloud-based HCM solution is a critical

cloud comes down to what’s been hap-

component for a company’s toolkit.”

pening this year,” adds Haslam. “You’ve

Regarding changes in prospec-

got companies that are now working

tive customer purchasing decisions,

remotely on a mass scale; 500+ people

Haslam and ELMO have noticed some

working remotely is a huge challenge

key trends. “In terms of changes in

for the management of performance

purchasing decisions, we’ve observed

cycles, payroll, recruitment, onboarding

a change in the procurement cycle

and training of people.”

through the pandemic with companies

This reality has been made plain by

generally working to identify what the

trends in customer behaviour during

pandemic will do to their results, and

the lockdown, with platform engage-

as a result, we have seen procure-

ment rising considerably. “We’ve

ment being deferred, creating pent up

seen an increase in platform reli-

demand, as company executives look

ance, underscoring the thesis that a

to conserve cash,” he says. “However, busi ne ssc hi ef . a s ia

Tapping into the global scale, flexibility, and reliability of AWS cloud

AWS provides the platform to securely host our customers’ valuable data, which they can access from anywhere, on any device, at any time.

The reliability of the AWS platform is a key component to not only to ELMO’s success but also our customers’.

James Haslam Chief Financial Officer ELMO Cloud HR & Payroll

As more businesses around the world turn to cloud-based software solutions, companies like ELMO are well-placed to tap into new and exciting opportunities for growth. Their secret to success lies with AWS cloud, which provides a solid foundation to cope with unpredictable spikes in traffic; as well as the ability to innovate fast and expand into new markets with confidence.

Why software vendors choose AWS cloud To deliver innovative, next-generation software, you need the scale, power and agility that AWS cloud delivers.

That’s why AWS is one of the world’s most comprehensive and broadly adopted cloud platforms – and has been for over 13 years. AWS services are trusted by more than a million active customers and tens of thousands of AWS Partner Network (APN) Partners around the world to power infrastructure, boost agility and reduce costs.

With AWS cloud, you have the ability to lower costs while increasing performance. You can right-size your servers, tap into lower-cost storage tiers, optimise licensing costs and leverage AWS’s unique pricing models. Plus, with AWS server elasticity, you only pay for what you use, and can scale up and down as needed.

Achieve agility and significant performance gains Quickly spin up AWS resources as you need them, deploying hundreds or even thousands of servers in minutes. This means you can very quickly develop and roll out new applications to market, and you can experiment and innovate faster.

AWS cloud supports global growth ambitions by giving you access to a global network of data centres. For software companies eyeing global reach, it means that the data residency dilemma is solved without issue – you can easily deliver on global customers’ local regulatory requirements by leveraging AWS’s global footprint.

The infinite scalability of AWS cloud is also proving crucial in the quest to respond to continually evolving workloads, enabling companies like ELMO to easily cope with growth at scale.

Ready to get started?

Learn more about why software vendors choose AWS

Click here to learn more

ELMO CLOUD HR & PAYROLL

114 pleasingly, we’ve been able to con-

companies have an increased level of

tinue to win business throughout, and

digital adoption.”

it’s now a case of monitoring the key

How does ELMO continue to provide

indicators for when the procurement

a seamless service to their clients?

cycle will kick back in as businesses

Haslam explains “a key to operating

return to the office. It’s great to hear

in the cloud-based environment is

that they’re starting to do that.

the relationship that we have with key

“We’re expecting that some of the

partners. One of the most significant

fallout from companies returning to

is Amazon Web Services (AWS). AWS

their offices and going through their

provides the platform to host our cus-

key learnings will be recognising the

tomers’ data which can be accessed by

criticality of having a cloud-based

our customers anytime and anywhere.

HCM system in place to support them

The reliability of AWS’ platform is a key

in case of future mass remote working.

component not only to ELMO’s suc-

The management of people is simpler if

cess but to our customers as well”.

OCTOBER 2020

Not only has ELMO been able to continue securing new business

in both the Australia/New Zealand (ANZ) and UK market.

and supporting its broad cus-

“We look at M&A in terms of ‘three

tomer base, but it also launched a

pillars’,” says Haslam. “The acquisition

new module during the COVID-19

of companies with an attractive cus-

Pandemic – ELMO Connect. It has

tomer base, which enables cross-sell

also continued with its mergers

of additional modules, complementary

and acquisitions (M&A) strategy to

technology and more recently the geo-

identify potential acquisition targets

graphic expansion to the UK.”

E X E C U T I V E P R O FILE :

James Haslam 115

Title: Chief Financial Officer Industry: Business software solutions Mr James Haslam is the CFO of ELMO and joined the company in February 2019.

James is a Chartered Accountant with over 19 years of experience in accounting and finance roles. As CFO, James is responsible for all aspects of the accounting and finance function, from ensuring efficient, controlled and timely recording and reporting systems, to budgeting, forecasting and cash flow analysis. Before joining ELMO James founded Financial Agility Consulting, a consultancy ptactice providing senior executive management support through mergers, acquisitions, capital raisings and IPO’s. Prior to Financial Agility Consulting, James worked for both KPMG and Deloitte providing professional services advice, predominantly in respect of mergers, acquisitions and IPO’s. James holds a Bachelor of Science in engineering and Business from the University of Warwick in the UK and is a Fellow of the Institute of Chartered Accountants in England and Wales. busi ne ssc hi ef . a s ia

ELMO CLOUD HR & PAYROLL

116

OCTOBER 2020

“ One of our biggest competitors is manual process, and one of the biggest benefits of companies shifting to the cloud comes down to what’s been happening this year” — James Haslam, Chief Financial Officer, ELMO Cloud HR & Payroll

The customer acquisition M&A strategy is focused on leveraging the newly acquired entity’s existing customers to drive market footprint and penetration, as well as increased sales. “The customers we acquire along with the technology are important to us, not only because it widens the product offering but because the acquisitions enable the cross-sell of additional modules into a new sticky customer base,” says Haslam. “By bringing new technologies into the suite, such as remuneration, survey tools and video content, we expand our solution, enhancing the ELMO value proposition providing additional opportunities to cross-sell into a growing customer base. That’s evidenced when you look at our results.

“In our FY20 results, we released a statistic that, of our incremental increase in organic annual recurring revenue, 39% came from existing companies and the remaining 61% came from new customers. That means customers are adding more modules to their solution.” This two-pronged revenue growth from existing customers is also predicated on ELMO’s commitment to continued investment in research and development (R&D). Haslam explains, busi ne ssc hi ef . a s ia

117

ELMO SOFTWARE LIMITED

C OM P A N Y F A C T S

ELMO Cloud HR & Payroll’s convergent solution delivers 15 modules under five key pillars: Pay Payroll Self-Service Rostering / Time & Attendance Engage HR Core Survey Connect

118

Hire Recruitment Onboarding Retain Performance Management Rewards & Recognition Remuneration Succession Management Develop Learning Management Course Builder Course Library Video Library

OCTOBER 2020

“We believe the ability to cross-sell additional modules to customers is related to the investment in the platform and individual modules. This investment yields a better customer and user experience which helps support their decision making in expanding their usage into additional HCM areas.”

The company’s eye for growth has recently expanded to international markets, with ELMO targeting entry to the UK market. “We’ve recently raised an additional AU$ 73m on the Australian Securities Exchange (ASX) to complement the fundraising we undertook in September 2019, and this recent raise was to secure capital to expand our offering into the UK market,” explains Haslam.

“A core component of that expansion is the M&A strategy. We see making an acquisition in the market as a route that de-risks market entry when compared to simply taking office space, hiring a team, and trying to sell a product that’s not yet well-known in the market. Acquiring a company with a customer base and brand within that market enables us to adopt a land and expand strategy through leveraging an busi ne ssc hi ef . a s ia

119

ELMO SOFTWARE LIMITED

established footprint and to cross-sell our existing suite of modules.”

Haslam adds that the UK market represents an interesting business opportunity for ELMO as it has similar dynamics to the ANZ region and the company’s success within it. The UK’s cloud-based HR and payroll service providers are similarly still predominantly manual and fragmented, meaning there is considerable opportunity for ELMO, with its hire to retire convergent solution to step in and pro120

vide the full spectrum of HCM products from a single provider. The simplicity

“ We see making an acquisition in the market as a route that de-risks market entry when compared to simply taking office space, hiring a team, and trying to sell a product that’s not yet well-known in the market” — James Haslam, Chief Financial Officer, ELMO Cloud HR & Payroll

of its service offering is bolstered further by the time-to-market the firm is demonstrably capable of delivering.

In addition to the M&A strategy, ELMO has been active in developing the organic side of the business, with the majority of the 25% FY20 revenue growth being generated organically.

“We’ve actually launched a module during the pandemic: ELMO Connect,” says Haslam. “In the mid-market space, connectivity is critical. We accelerated the development and release of the module, to bring it to market quickly

OCTOBER 2020

2002

Year founded

$50mn+ Revenue in AU dollars

384

Number of employees

in response to customer feedback.

ambitious company that has leveraged

ELMO Connect allows customers

its digital maturity, market expertise

to easily communicate and collabo-

and agility to turn the COVID-19 crisis

rate remotely with employees and

into opportunity. Haslam highlights

leverages the ability to launch Zoom

the growth mindset, centricity of per-

meetings from within the platform.

formance, collaborative ethos and a

We’ve offered ELMO Connect to cus-

commitment to feedback at all levels

tomers free for six months because

as the key drivers of the company’s

we could see it’s something they

winning culture, and in such trying

needed during this difficult period of

times their customers have benefitted

mass remote working.”

from services whose necessity has

None of this would be possible with-

never been clearer.

out ELMO’s dedicated staff known as ‘ELMOnians’, the beating heart of an busi ne ssc hi ef . a s ia

121

122

PZ Cussons: Transforming Logistics in Asia WRITTEN BY

WILLIAM SMITH PRODUCED BY

CAROLINE WHITELEY

OCTOBER 2020

123

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PZ CUSSONS

Tofan Yudianto, Head of Logistics, Asia, for manufacturer PZ Cussons, on thriving despite regional and COVID-19-caused logistics challenges

T

ofan Yudianto is Head of Logistics, Asia, for consumer goods company PZ Cussons. Since being brought into the

company in 2015, he has relished the opportunity 124

to transform the logistics strategy in an Asian setting. “PZ Cussons logistics business was operating in-house, but then they wanted to focus on their core business and work with external business partners for logistics.That’s where me and my team’s journey started - creating and articulating that long term strategy.”

Yudianto identifies PZ Cussons’ “can-do values” as a key driver of its success, alongside the raft of watchwords such values inspire. “The question is whether we can stand for courage, accountability, networking, drive and also oneness. That last word, that last value of oneness is very important. I know this is implemented within PZ Cussons because even as this organisation is growing, people are remaining together.”

OCTOBER 2020

125

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PZ CUSSONS

126

That can-do culture was some-

The market in Asia has tradition-

thing Yudianto noticed straight away

ally relied on businesses driving

upon his arrival at the firm. “I was

consumer’s desires. No longer, with

challenged to adapt,” he says. “In

more empowered consumers certain

the beginning I had to work out how

about what they want. “The way I see

to adapt with my team and how to

it, now the customer drives the busi-

synchronise the frequency, and the

ness. What I mean is that in India,

rhythm of the way I work with the

China, and Southeast Asia, people

people in the organisation. That was

want a certain product delivered within

especially true with my team because

this time, with this quantity and at this

they have a real strength instilled in

price. The old industry and logistical

them by the culture.”

challenges were about distributing

OCTOBER 2020

“ Logistics and procurement have to be close” — Tofan Yudianto, Head of Logistics, Asia, PZ Cussons bigger volumes to the market, and

going to be provided. It’s about what

then the consumers going and buying

they want and what they need.

your product. But now the challenge is

“The biggest challenge in Asia is how

totally different. The consumer doesn’t

we can map and connect the dots and

care where the product is going to be

solve the puzzle between sourcing and

manufactured, where the product is

demand. In Asia for example, if you

E X E C U T I V E P R O FILE :

127

Tofan Yudianto Title: Head of Logistics

Company: PZ Cussons

Industry: Consumer goods

Location: Asia

Tofan Yudianto is Head of Logistics, Asia, for consumer goods manufacturer PZ Cussons. Alongside his logistics experience, he has extensive knowledge of differing parts of the fast moving consumer goods (FMCG) industry thanks to previous roles. “I started in my current role in 2015, but before that I was working with another multinational FMCG company, Unilever,” he says. “There I played several roles, working as the business system manager, working with a staff on projects, and also in the marketing and sales area.”

busi ne ssc hi ef . a s ia

PZ CUSSONS

1879

Year founded

$895.03m+ Revenue in US dollars

3,986+ 128

Number of employees

want to produce one product, you have to find the correct source at a competitive price, and it’s often not in one country. Logistics is going to enable that by working together with procurement on how to source a certain material, for example.

You have to be good at mapping sources and demand and agile to work out how you’re going to manufacture something.”

As with all organisations worldwide, The COVID-19 pandemic affects the way of doing business OCTOBER 2020

and PZ Cussons is also adjusting to shifting demand. “Demand is now more focused on the hygienic product categories instead of beauty products, for instance, with demand for our hand sanitiser product increasing significantly.”

There have been plus points for the business, with the extraordinary situation accelerating pre-existing trends.

“We see that the online business is actually growing quite aggressively because people are stuck at home.

So it’s direct to consumer and now

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129

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“ We believe that sustainability is good for business” — Tofan Yudianto, Head of Logistics, Asia, PZ Cussons

OCTOBER 2020

SERVICES INCLUDE: Domestic Freight Forwarding

Customs Clearance

International Freight Forwarding

Project Cargo

Contract Logistics

E Commerce Logistics

consumers are driving the business,

points and routes will be much more

telling us exactly what they want. And

online, with small volumes of quantity.”

it’s not just the millennial generation -

Sustainability is a key focus for the

because of the situation we’re seeing

company. “At PZ Cussons we believe

all age groups heading online, and the

that sustainability is good for business.

winner of the situation is going to be the

So the business has a responsibility

business that can adapt quickly to the

to align the way it operates with the

new normal. The difference between

cause of sustainability. For logistics,

online versus offline distribution is in

the challenge is about reducing the

the complexity, where the destination

carbon footprint. For example, at a

131

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PZ CUSSONS

132

OCTOBER 2020

“ The biggest challenge in Asia is how we can map and connect the dots and solve the puzzle between sourcing and demand” — Tofan Yudianto, Head of Logistics, Asia, PZ Cussons

number of our distribution centres, we are increasing the efficiency of our electricity use.” Another avenue of exploration is the efficiency of transport, which can be challenging in less developed parts of the APAC region. “One question is how we can move from a fleet of small vehicles to more efficient transport. So we are reducing the number of trucks on the road and therefore the carbon footprint. Beyond that, we’re working on utilising rail as much as possible.”

The work PZ Cussons does is enabled by the support of a number of key partners. “We work with some multinational and local logistics providers as our partners for warehousing, busi ne ssc hi ef . a s ia

133

PZ CUSSONS

134

“ These pillars enable logistics and the growth of the business” — Tofan Yudianto, Head of Logistics, Asia, PZ Cussons

OCTOBER 2020

135

and we also have a number of vendors

chain strategy. “The whole supply

for transportation and freight,” says

chain is facing the challenge to the

Yudianto. We work with our regional

manufacturing and procurement

procurement partners in Singapore in

strategy together, and as part of that,

order to be aligned with what we are

logistics has to be ready.“

trying to achieve.”

Yudianto is confident that PZ Cussons is well placed to thrive in the future, despite changing market conditions and the impact of COVID19, thanks to a clear and united supply busi ne ssc hi ef . a s ia

Driving the Digital Energy Transformation WRITTEN BY

136

MATT HIGH PRODUCED BY

STUART IRVING

OCTOBER 2020

137

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TRANSGRID

TransGrid’s Chief Information Officer, Russell Morris, describes how technology innovation has overcome COVID-19 challenges

T

he role of the Chief Information Officer (CIO) is one defined by change. For any organisation today, regardless of industry,

digital transformation is essential and the adoption of new, innovative technologies forms the core of any future-looking digital strategy. Russell Morris, 138

CIO at Australian electricity network operator TransGrid, is no exception to this. Morris has been at Transgrid for more than two years, joining the organisation to drive its technology transformation, oversee a complex modernisation programme and replace legacy technologies.

Change, however, is unceasing and circumstances out of Morris’ or TransGrid control have made the last 12 months particularly challenging for him and his team. The 2019-20 Australian bushfire season, now colloquially known as the ‘black summer’, saw a period of unusually intense bushfires throughout the country, which only ended in February this year. After those fires, which burned 13 million acres of land on which TransGrid’s vast $6bn electrical asset base resides, there was a brief respite. Then, however, OCTOBER 2020

139

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TRANSGRID

“ There’s a really interesting shift in technology moving to being an enabler of a new way of working and a new way of doing things” — Russell Morris, Chief Information Officer, TransGrid

the global COVID-19 pandemic hit Australia and TransGrid like it did every nation and every industry sector.

Understandably, in such circumstances ‘business as usual’ ceases to be relevant. Morris, along with his IT department, were focused on balancing business continuity while still advancing TransGrid, and deriving business outcomes and transformation from any technology investments that were made. Prior to this, Morris had been in the midst of a technology

140

transformation focused on replacing

OCTOBER 2020

Innovating with Goldwind – TransGrid | Business Growth CLICK TO WATCH

|

1:49

141 legacy assets with new, digital inno-

essential business enabling func-

vations. The challenges presented

tion. From our perspective it’s a real

by the bushfires and COVID, however,

evolution in how we’ve approached

have seen both he and TransGrid

progress - so, which technologies

refocus their strategy on innovation

would be useful, which inform the

and technology adoption, as well as

broader strategy and so forth - and

the role that both it and the IT team

how they will play a completely dif-

plays within the organisation.

ferent function to that we considered

“There’s a really interesting shift

six months to a year ago. Take the

in technology moving to being an

bushfire as an example. You’d be

enabler of a new way of working and

hard pressed to say that technol-

a new way of doing things,” Morris

ogy alone enabled us to deal with

explains. “If, as an IT department,

it, but it’s absolutely given us the

you were a technology function

insight to understand our response

pre-COVID you’re now an absolutely

to these things, to better realise the b u s in e s s c hie f. a s ia

TRANSGRID

142

importance of data and algorithms,

drive value and improve customer

and how we can leverage data from

experience while reducing costs to

different sources to build a better

serve. “The need was to commit to

picture of our operations through

a next-generation operating model,

predictive analysis.”

moving away from the traditional Plan,

Technology has allowed TransGrid

Build, Run approach. The domain

to respond to the challenges pre-

operating model is a new business-

sented this year in an effective,

aligned way of running the IT function

innovative and agile way, says Morris.

that combines digital technologies

He attributes this largely to a major

with business strategy. There are no

restructure undertaken by his team

longer standalone vertical IT goals.

to align with business ‘domains’. This

They are instead replaced by business

was needed, he explains, to simulta-

outcomes that are shared horizontally

neously disrupt existing processes,

across the business value chain.”

OCTOBER 2020

C OM PA N Y FACT S

The shift to a domain-type model is beneficial as technology and

“At TransGrid, we are focused on delivering better outcomes for electricity customers and the community by working to deliver safe, reliable and affordable electricity and we do this by operating efficiently, bearing down on cost and through innovation. This guides our IT decision making.”

focus. Morris adds: “For TransGrid, it

- Russell Morris, CIO, TransGrid

has also represented the beginning

business functions become more entwined. In essence, in order to maintain pace with this shift in business direction, the operating model employed by the technology function should be more focused on agility, collaborative ways of working and a renewed product and customer

of a journey to leave behind its legacy single ERP system and replace it

E X E C U T I V E P R OF IL E :

Russell Morris Title: Chief Information Officer Company: TransGrid Industry: Electricity transmission

Location: Australia

Morris is an IT Executive whose career with large, well-known brands, spans over 20 years. He has delivered technology enabled business change on a global scale. He was successively recognised as one of the top 100 CIO’s in the UK before moving to Australia. He is currently listed as one the 50 most innovative CIO’s in Australia, and is the only CIO from the energy sector to be featured in that list. Having significant international experience within multiple engineering or manufacturing organisations in the UK, Europe, USA and Australia, Morris brings a future facing, global outlook.

b u s in e s s c hie f. a s ia

143

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Read the article

“ The need was to commit to a next-generation operating model, moving away from the traditional Plan, Build, Run approach” — Russell Morris, Chief Information Officer, TransGrid

with distinct domains in the business. There are two distinct parts to the model: the technology and the people or the human element in the business. On the former, we decided to lose all our legacy equipment and use only the very best, tailor-made solutions from the outset, which would then work together under a MuleSoft microservices architecture.

This allows for the building of a much

with multiple, best of breed cloud

more intelligent business based in

based systems, whilst simultaneously

the cloud - instead of making system

implementing a best of breed micro

constrained compromise, you can

services architecture that allows

have exactly what you need.”

dynamic data reuse across the enterprise in real time.

This change has been fundamental in TransGrid’s dealing with the

“The move to the domain model is

challenges presented by COVID-

relatively common in a lot of sectors,

19, for example. Technology aside,

but in utilities it’s rare, we’re really

however, Morris is a firm believer in

leading the way in that respect,” he

collaboration and the placing of the

continues. “Embarking on such an

technology or IT function at the heart

innovative approach has already

of the business, and he is keen to

revealed opportunities to simplify and

highlight the importance of a col-

streamline journeys and processes

laborative culture across TransGrid.

that will unlock massive future value.

His team’s successful navigating of

The difference lies in that, instead

the COVID challenge has only served

of sitting centrally - like a hotel con-

to strengthen this trend. “The initial

cierge that looks to please as many

challenge of dealing with the bush-

people as possible - it works aligned

fires really built a camaraderie, not b u s in e s s c hie f. a s ia

145

TRANSGRID

“ We decided to lose all our legacy equipment and use only the very best, tailor-made solutions from the outset” — Russell Morris, Chief Information Officer, TransGrid

only in the IT team, but across the 146

whole business and that was important in how we were quickly able to meet the impact of COVID. “Before 2020, the highest number of personnel we had working from home in a single day was around 10% of the workforce,” he continues. “This had to rapidly scale to more than 80% now working from home, including the vital training and adoption of collaboration technology. The relationships between the IT domain teams and the other business units were crucial in understanding business needs as circumstances changed very quickly.”

An example of this, says Morris, is the establishment of TransGrid’s OCTOBER 2020

business continuity kit - an offline information pack that was delivered to the desktops of every computer in the company’s network with important information around working from home. “From conception to agile deployment, it took just under a week to build and played a large part in the overall change management strategy. Our response really grew our reputation and standing within the organisation, and helped to build confidence in us so that we can carry forward the wider technology and business transformation with the full buy-in of everyone involved.”

Crucial to this work, says Morris, is the creation of the new TransGrid IT Ecosystem. This IT vendor ecosystem includes partners such as TCS, Capgemini, Tech Mahindra, IBM and more and will see the sharing of technologies, information and expertise to the benefit of all parties. “It consists of well respected partners that have a symbiotic relationship with us,” Morris explains. “Essentially, it works as a meritocracy where global brands can bring their expertise into the business, working with us to deliver b u s in e s s c hie f. a s ia

147

TRANSGRID

148

greater business outcomes that

“ COVID has made the world a lot smaller, and people more available so we’ve definitely learned new ways to leverage and maximise relationships” — Russell Morris, Chief Information Officer, TransGrid

would otherwise be possible with just an in-house IT team. Information gets shared reciprocally, and it’s the perfect way to show the power of collaboration. Of course, it’s helped by the broader shift to remote working and the use of new communication technologies - COVID has made the world a lot smaller, and people more available, so we’ve definitely learned new ways to leverage and maximise relationships.”

OCTOBER 2020

1995

Year founded

$300mn Revenue in Australian dollars

1,200 Number of employees

Thanks to the work of Morris and

and how we respond, and I think that

his team, TransGrid is in a robust

gives us a real edge looking further

position to take any further chal-

into the future. The challenges and

lenges in its stride. The shift to a

adversity we’ve faced have really

new operating model has placed the

benefited our forward-strategy, and

company in an environment where it

I think there is real potential to use

is able to maximise the potential of

technology to create the options and

any innovative technologies it imple-

environment for us to do the best

ments, while remaining dedicated

work we can - we’re creating the

to the overarching transformation

power of choice,” he concludes.

strategy. “We couldn’t predict COVID, but we can now predict what happens when the business is disrupted b u s in e s s c hie f. a s ia

149

150

DOCOMO PACIFIC: industry-leading services in a unique market WRITTEN BY

HARRY MENEAR PRODUCED BY

STUART IRVING

SEPTEMBER 2020

151

b u s in e s s c hie f. a s ia

D O C O M O PA C I F I C

Roderick Boss, CEO of DOCOMO PACIFIC, discusses providing world class telco services in a unique market context

H

ome to fewer than 170,000 people, annually buffeted by tropical storms, and a transPacific junction for undersea cables, the

island of Guam represents one of the most unique market contexts in the telecommunications industry. It is culturally and politically a US territory, but 152

sits a mere three and a half hour flight away from Tokyo and Manila; its user base is smaller than the population of Fort Collins, Colorado, but Guam’s telecommunications market is one of the most sophisticated in the world. It’s competitive too, with four mobile industry operators vying for a market share smaller than most others.

“This is a very unique territory to be operating in, due to both our geography and our identity as a US territory,” says Roderick Boss, CEO of DOCOMO PACIFIC. “Being in the US but so close to Asia gives us a big advantage that’s maybe disproportionate to our population size.”

Founded in 1991, DOCOMO PACIFIC is the biggest telecom operator in both Guam and the Northern Mariana Islands (CNMI). As the only overseas subsidiary telecom operator of NTT SEPTEMBER 2020

1993

Year founded

530

Number of employees

153

b u s in e s s c hie f. a s ia

D O C O M O PA C I F I C

“ Being in the US but so close to Asia gives us a big advantage that’s maybe disproportionate to our population size” — Roderick Boss, CEO, DOCOMO PACIFIC

DOCOMO, a leading Japanese mobile provider, DOCOMO PACIFIC brings a unique value proposition to a wholly unique market. We sat down with Boss to find out more about the strategies and values that have allowed the company to become the region’s leading telecom provider, and why Guam itself is the perfect test bed for NTT DOCOMO’s 5G ambitions.

According to Boss, Guam’s hypercompetitive market is one of the key drivers behind DOCOMO PACIFIC’s

154

success. “We have a very competitive market here, and our position as the leading provider in the region is hard won,” he explains. “That competition is a driver behind a lot of the innovation that we do: we have to innovate in order to attract the business of this very sophisticated population. People want the latest devices, the best possible network quality, reliability and world class customer service – and we have to provide them with that.” Boss joined DOCOMO PACIFIC in the summer of 2018, a continuation of multiple decades of experience in the telecommunications sector. Even after years working in Japan, the Philipines and SEPTEMBER 2020

Nokia: Interview about 5G with Roderick Boss, CEO, DOCOMO PACIFIC CLICK TO WATCH

|

5:03

155

across the Pacific, he acknowledges

SOPHISTICATION AT (ISLAND) SCALE

that the opportunities and challenges

The unique combination of a sophis-

that Guam and the CNMI present have

ticated population that demands

required a unique adjustment. “Coming

technological excellence, status as US

to this market definitely required an

territories, and small market scale make

adjustment, compared to working for

DOCOMO PACIFIC a uniquely valuable

a telecommunications provider in a

card in NTT DOCOMO’s hand. “There

big market,” he reflects. “Here, we still

are a couple of reasons they’ve invested

need to provide everything that you’d

in us,” explains Boss. “Our proximity

expect from a world class telecom

to Japan makes it very convenient,

company, but it has to be the island

as well as the fact that we’re in touch

version of that. That doesn’t mean

with what’s going on in the US market;

lower quality or less technology, it’s

there’s a lot that we can learn from

just a different version.”

them and that they can learn from us.” b u s in e s s c hie f. a s ia

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“ We have a very competitive market here and our position as the leading provider in the region is hard won” — Roderick Boss, CEO, DOCOMO PACIFIC

wealth of different cultures, perspectives and skill sets. “We have a very diverse organisation. We have people from all over Asia, from the local Chamorro population, a big Filipino population as well as distinct Korean and Japanese demographics. So, add to that all the military personnel that come and go and you have a very diverse and dynamic little island,” says Boss.

“I feel like that diversity is a real strength in our operation. It allows for innovation and a very respectful environment. I think that’s something that DOCOMO PACIFIC puts a lot of value in.”

The other major benefit that

Whereas NTT DOCOMO is a mobile-

DOCOMO PACIFIC’s secluded market

only provider, DOCOMO PACIFIC is a

provides is its role as an ideal test bed

quad-play organisation, which provides

for leading-edge technologies. Around

a singular opportunity for its executives.

the world, the advent of 5G adoption

“We’re tiny when you set us against the

is creating a revolution in the telecom-

whole NTT DOCOMO world, but we

munications industry. With implications

have about six or seven executives at

that range from lightning fast, reliable

a time who come on a rotational basis

digital communications, to a cornu-

from Japan to work here with us and

copia of IoT and smart infrastructure

learn how our full fixed service and

applications, the next decade of digital

mobile business works,” says Boss.

communications are set to be defined

Sitting at the intersection of the

by the rise of 5G. Early adopters and

Pacific, US and Asian markets,

innovators in this space can expect to

DOCOMO PACIFIC has access to a

reap huge rewards. b u s in e s s c hie f. a s ia

157

D O C O M O PA C I F I C

158

THE RACE FOR 5G

5G lab, which was opened here,”

“We started our 5G journey more than

explains Boss. The lab serves to com-

two years ago,” notes Boss. “NTT

plement DOCOMO’s Open Partner

DOCOMO was developing as a global

Program, which allows outside compa-

leader of 5G innovation and we were

nies to partner with DOCOMO PACIFIC

talking to them very early on about the

in order to test their 5G applications,

possibility of testing 5G capabilities

equipment and new concepts at no cost.

in our market.” In February 2019, the

However, the island’s fiercely

company unveiled a new DOCOMO

competitive market quickly spurred

5G Open lab at its headquarters in

DOCOMO PACIFIC on to greater

Tamuning, Guam. “NTT DOCOMO

heights of innovation. “A few weeks

already had three other labs in Japan –

after the launch of our lab, one of our

in Tokyo, Okinawa and Osaka – and

competitors held a big press confer-

number four was their first international

ence to announce that they were

SEPTEMBER 2020

E X E C U T I V E P R OF IL E :

Roderick Boss Roderick Boss is currently President and CEO of DOCOMO PACIFIC in Guam.

Prior to joining DOCOMO PACIFIC, he held senior positions at ManpowerGroup in the US, Japan and the Philippines. Before ManpowerGroup, he was the President and CEO of Pacific Crossing Limited, the owner and operator of a subsea fiber optic telecommunications cable system in the Pacific.

Before joining Pacific Crossing he was the President and CEO of Japan Telecom America, the US arm of Japan Telecom, then Japan’s third largest telephone carrier and largest broadband service provider. JT is now part of Softbank Communications. Before returning to the US and Japan Telecom America, Rod held various senior positions in Japan Telecom in Japan.

He was responsible for all global services and products.

Rod spent a total of eighteen years living and working in Japan at a variety of telecom companies including PowerBand Communications, J-Phone, International Digital Communications, AirTouch International, and Vodafone.

He started his telecom career at AT&T where he worked in Tokyo, New York and New Jersey.

Rod began his career at Honda Motor Company in Tokyo where he was a member of the first group of foreigners hired into Honda’s management training program.

Rod holds a Bachelor of Arts degree from Brigham Young University and a Master of International Management Degree from the Thunderbird School of International Management.

b u s in e s s c hie f. a s ia

159

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going to commercially launch 5G in

the early adoption stage of the tech-

Guam and the CNMI by the end of

nology, and the world class nature of

2019,” recalls Boss. “I kind of took

DOCOMO PACIFIC’s extant 4G/LTE

that as a personal challenge. I said

network – which he notes consistently

“if they’re going to launch before the

achieves 70-80 mbps speeds – Boss

end of the year, we’re not going to be

explains that he isn’t planning to cover

beat.” DOCOMO PACIFIC launched

Guam’s entire 549 km² of land. Rather,

its fixed network 5G services in Guam

DOCOMO PACIFIC has established

in October, and Boss explains that

three major hot spots in the island’s

the company is set to follow up with a

busiest villages. “The rest of that

mobile 5G service in the near future.

deployment schedule will be defined

“We actually launched ahead of NTT

by the market and driven by demand,

DOCOMO in Japan,” he says. Given

not the other way round,” he states.

161

b u s in e s s c hie f. a s ia

D O C O M O PA C I F I C

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S20 is going to be able to use 5G when they’re within one of our hot spots.”

Beyond flagship mobile devices, however, Boss notes that there’s an array of potential applications that are particularly suited to Guam’s needs.

“Our geography makes us isolated, which can present limitations to our healthcare system. It’s hard to get a lot of specialist doctors to come all the way to this small island so, when people have something serious, they get on a plane to Tokyo, Manila or Hawaii,” he explains. The high speeds, reliability and low latency that 5G provides has A key driver of market demand

far-reaching implications for delivering

for mobile 5G services will be the

medical expertise to remote locations

increased capability of widely avail-

around the world. He also explains that,

able handsets. “Initially we’d been

since Guam has a single university and

using an LG phone that uses the

one community college, the potential

same frequency for 5G as Sprint’s

benefits of distance learning for the

network in the US, and we managed

island are also substantive. However, he

to get that ahead of schedule,” Boss

notes that both applications are prin-

explains. “Now, of course, Samsung’s

cipally based upon fixed 5G networks,

S20 is 5G capable. This means we’re

and that the process of finding applica-

seeing a progression from one highly

tions for 5G mobile that aren’t already

specialised handset, to having a very

being supported by the last generation

mainstream model of phone that’s 5G

of technology is an ongoing process.

capable. For us, that really changed the game, because anyone with an

“For me, there’s one major application for mobile 5G in Guam that I’m b u s in e s s c hie f. a s ia

163

D O C O M O PA C I F I C

164 most excited about and that’s fiber

neighbourhood and achieve fiber-like

replacement. If I can get internet

speeds through wireless, by dropping

speeds that are comparable to fiber

a tower near my users, that’s a signifi-

without having to dig up the ground

cant game changer for our market.”

or drill holes in people’s walls, that’s a game changer.” Guam is located in

A VITAL ECOSYSTEM

what’s colloquially known as “Typhoon

Providing world-class services in a

Alley”. Every year, some of the world’s

tiny market is an ambitious goal, and

most devastating storms sweep across

DOCOMO PACIFIC fully leverages

the Pacific and break on the island.

its network of partner relationships

As a result, Boss explains that build-

to support its goal. “Our partnerships

ings on the island tend to be made

are incredibly important to us,” says

of reinforced concrete. “In-building

Boss. “Because of our scale, we have

penetration is a big issue,” he says.

limitations in the skills and knowhow

“If I can use 5G to go into a

that we can have inhouse. So we rely on

SEPTEMBER 2020

165 our partners’ expertise and by having

the modern enterprise. As countries

close working relationships, we can

around the world close their borders

make their expertise our own. We have

to travellers, and the global economy is

a long and close relationship with Nokia,

forced into history’s biggest experiment

which provides our network equipment.

with remote work, it falls to telecom-

Another key partner is Commscope,

munications providers to ensure that the

who we’ve bought a number of products

world remains connected.

from over many years. We see the mem-

“Over the past five years, we’ve seen

bers of the companies we work with

a big shift from voice to data. During

as members of our own team, so those

the current COVID-19 pandemic we,

relationships are incredibly important.”

along with telco operators all over the world, have seen a massive increase

THE COVID-19 CHALLENGE

in our broadband business – about a

The ongoing global pandemic repre-

90% increase – and haven’t had any

sents an unprecedented challenge for

network throttling. We’ve been able to b u s in e s s c hie f. a s ia

D O C O M O PA C I F I C

“ If I can use 5G to achieve fiber-like speeds through wireless, that’s a significant game changer for our market” 166

— Roderick Boss, CEO, DOCOMO PACIFIC

DOCOMO PACIFIC: You + Dreams #BetterTogether CLICK TO WATCH

SEPTEMBER 2020

|

1:00

167

handle this spike because we’ve been

we sell to people, so we were in a good

making the transition to data for a long

position to move to that very quickly.”

time,” explains Boss.

In response to the pandemic’s effect

Guam went into lockdown in mid-

on the region, DOCOMO PACIFIC has

March. “In our case, immediately

placed its customers first, waiving late

following the first case of COVID-19

fees, providing uncapped data to its

being diagnosed in Guam, we switched

customers and donating PPE to front

to a virtual work strategy across

liners in Guam and the CNMI.

our entire company. Our call centre operations, for example, all went virtual

CONNECTING TO THE FUTURE

within a two-day period. I was pretty

“It’s an incredibly exciting time in the

proud of the team’s ability to do that,”

industry for us. We have a lot of really

says Boss. “Obviously, the ability to

fun things that we’re doing,” enthuses

stay connected remotely is a service

Boss, reflecting on the fact that b u s in e s s c hie f. a s ia

D O C O M O PA C I F I C

T O K YO 20 20

168

“Because we’re a small island operator, and most suppliers adjust rates according to volume, it’s important that our suppliers recognise that.

One example of that is the “2020 Olympics. We were hoping to get the sponsorship to be the official telecom supplier to the Guam National Olympic Committee. This is managed by the IOC, and they charge astronomical fees for these sponsorships. We were hoping that they would understand that we’re a tiny market with our own Olympic team separate

SEPTEMBER 2020

from the US. We thought that with it being so close to us geographically, and with us being part of a Japanese telco, it would be a great sponsorship opportunity. It actually turned out very well; they were able to understand our scale and give us a rate we could afford. Now, we’re Guam’s official telecommunications sponsor for Team Guam to the Summer Olympics event. We need a lot more of our partners to recognize that we need worldclass products and support, but at small island prices.”

“ I love this industry.

It’s where new technology comes first, it’s incredibly competitive – and I love competition” — Roderick Boss, CEO, DOCOMO PACIFIC

for people who are moving away from full-service cable. That’s something that we’re going to see launched here very soon and I’m really excited about it,” he says. “I’ve watched my cable business shrink, year-over-year, for some time.

Rather than just wait and see what happens with that, I’m ready to be a player in this new market as well.”

From new technology, new strategies and constant competition to stay on top, to its inherent customer centricity, DOCOMO PACIFIC is

DOCOMO PACIFIC represents his

a uniquely capable company that

first experience with the TV and broad-

punches above its weight, operating

casting business. “The media and TV

in a market unlike any other. “I love this

businesses are at an inflection point

industry. It’s where new technology

right now around the world. OTT broad-

comes first, it’s incredibly competi-

casters are seeing this phenomenal

tive – and I love competition – and it’s

growth, creating their own content, and

fun to come to work everyday,” says

that’s driving this huge transformation.”

Boss. “We’ve built a great team here

In response to the rapid acceleration

at DOCOMO PACIFIC. We’re lucky to

of OTT adoption and the proportional

have a very supportive shareholder

decline in traditional cable services,

that allows us to do some things we

Boss is exploring ways for DOCOMO

might not otherwise be able to do. I’m

PACIFIC to once again thrive in

very happy to have that and, looking at

response to market pressure and com-

the future, I think it’s pretty bright.”

petition. “What I want is for those people to leave me for me. That means that I’m developing my own IPTV offering b u s in e s s c hie f. a s ia

169

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