World Business Outlook Issue 2 by International Business Magazine

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EDITORIAL... Getting back on track with the Digital Future we all envisioned The year 2022 began with a lot of positive vibes and huge aspirations across the industry. This was obvious, considering the disastrous 2020 and 2021. While the pandemic saw the boom for IT infrastructures and innovations in cloud technology, the education sector also saw some major disruptions during the same time period. While 2021 turned out to be quite tragic for many, it eventually changed many perceptions and approaches toward business across the industry. Cloud technology has largely seen a boom in the Asia-Pacific region with the education sector, the FMCG, and the retail sector embracing it the most. In this edition, you will find educators adopting different platforms and business processes to stay relevant with the technology-agnostic youth. From implementing inclusive, interactive and engaging digital curriculum to developing tools and solutions that help teachers prepare an entire class. The edtech industry will never allow the education sector to be the same again. The simulation and the digital product development tools are now turning into the new norms thanks to the large cloud adoption across the sector. This is also leading to a new vigour in the data centre industry across the developing nations such as India and China. The advancements and the resilience of the cyber security systems has also turned into a boom for the financial and banking sector. The rising number of neo banks and financial services institutes is a testament to a popular acceptance of online platforms for financial needs. On the cover, we have featured New Relic, a leader in developing and managing Observability platforms that is turning out to be a key tool in some of the advanced IT infrastructures. We spoke to its Asia-Pacific chief and the chief for the newly expanded India operations. Do have a look if you want to figure out the true potential of real-time analysis and insights in a software development company. With the talks of the metaverse, the virtual ecosystem, and the fluctuating popularity of virtual currencies across the world taking news space, blockchain technology could remain in our news pages for quite some time in the coming days. Stay tuned to our online portal as we reveal the business strategies adopted globally in the midst of the ongoing threat of Cold War 2 or World War 3. Be sure to check out our website at

www.worldbusinessoutlook.com Connect with us on Facebook : www.facebook.com/WBOutlook Twitter : @worldbusinesso3 Instagram : https://instagram.com/wboutlook and Linked In: https://www.linkedin.com/company/world-business-outlook

Cover Story 32

Observability: Collecting Data, Delivering Insights, Driving Productivity

Articles 18 “Governments need to share intelligence and develop a national cybersecurity plan”

“New business sectors are going to come up digitally to meet the ESG goals”

JONATHAN TAN

Kimin Tanoto of Gunung Capital

Content Half of the workforce in Singapore could switch jobs this year: Qualtrics Report

2022 Market trends for the Food and Beverage industry

BUSINESS

Daimler Truck adopts Siemens software for next-gen carbon-neutral vehicles

Siemens Digital Industries Software today

“We are proud to have Daimler Truck as

announced that Daimler Truck has adopt-

the newest member of our ever-expanding

ed Siemens’ Simcenter STAR-CCM+ soft-

customer family,” said Edwin Severijn, Sr.

ware to develop next-generation, CO2-neu-

VP and General Manager, EMEA, Siemens

tral vehicles. Simcenter, part of Siemens’

Digital Industries Software. “Digitalization

Xcelerator portfolio, will provide Daimler

is critical to sustainable industrial inno-

Truck with the leading-edge computation-

vation in the transportation sector and by

al fluid dynamics (CFD) solution it needs

providing insight into the real-world per-

to transform its CAE development process

formance of products, Simcenter STAR-

to a full digital twin-driven multiphysics

CCM+ can accelerate innovation for a bet-

environment.

ter tomorrow.”

Daimler Truck plans to use Simcenter

The Xcelerator portfolio is built to help

STAR-CCM+

aerodynamic

companies of all sizes create and leverage

performance, as well as explore and opti-

digital twins that provide organizations

mize innovative e-mobility propulsion and

with new insights, opportunities and levels

energy management systems including

of automation to drive innovation.

improve

battery cooling and hydrogen technology. The software will also help support legacy combustion engine and exhaust system design and associated CO2 reduction. In addition to software, Siemens and Daimler Truck are to partner in the training of young engineers to create the high-level simulation specialists that will assist in ensuring Daimler Truck maintain its leadership in the market.

BUSINESS

Business

Rethinking the business structure in the aftermath

Environmental taxation (carbon tax): Every or-

of the covid pandemic is predictable on a recov-

ganization aims to hold sustainability as a neces-

ery track. The economy has been on a recovery

sary factor for its functioning process. Pricing the

path amidst the pandemic situation that is still at

carbon content helps in effluents cut. Opting for

a surging rate. The risks to economic growth from

decarbonization of its supply chain helps in lesser

the omicron virus have put the fear of inflation on

greenhouse emissions. This act is also representa-

an increased scale. Global spillovers in uncertainties

tive of cutting down the carbon tax subjected to the

should hold cautious measures by forecasting view-

production process. Paving the way forward to an

points to adhere to growth criteria.

environment-friendly society, the infusion of such practices helps in attaining a business platform that

Previewing the trends in the future reveals volatility

states its core policy on environmental actions.

and uncertainties that might bridge the gap of unequal recovery. In the current situation of the Indi-

Digitalization: The digital platform in the present

an market, overhung by supply disruptions certain

time is seen through the lenses of necessity. The us-

trends in business operations are taking shape as

age of digital platforms for all kinds of survival is via-

per the rapidly changing world.

ble. On the grounds of customer services, the poten-

AI: AI has become a necessity in our day-to-day life and its application is only increasing as we approach 2022. From searching, suggesting, and understanding any questions, AI is helpful on a wider scope. Organizations use analytics to forecast their functioning, which leads to technology-enhanced outcomes to be seen in the future. Cloud computing would also reach new heights by 2022. According to the predictions laid down by Gartner, global spending on cloud services is expected to reach $482

tiality of digital platforms leads to seamless access. The digitalization of various business products has created a gig economy, made entrepreneurship accessible, and digital wallets, such as UPI come in handy for currency matters. It has laid the foundation of Virtual health platforms, where new medical technologies are innovated, and telemedicine has expanded the health sectors. Crypto assets/currencies: Forecasting crypto-

billion in 2022. Indian companies have registered a

currencies in the future can be a tricky part due to

better adoption of AI among other developing coun-

their variations. The emergence of Stablecoins is to

tries. This adoption leads to growth in business as

be welcomed as it holds more viability in access.

it reduces the need for data security and privacy

According to Forbes, these crypto-assets enable

compliance solutions. The introduction of new data

crypto as a transactional medium with specula-

protection and data localization policies is heeded

tive investment. Cryptocurrencies can be a tool in

to the compliance framework in India.

the business platform, impacting future business

Business

transactions. Through open cross-border transac-

scale. The shifts around consumer behavior are the

tions, an individual investor from every strata of the

factors resulting in the higher revenue Generation.

society can publicly view these transactions in pub-

Revenue to be generated by India’s online broadcast

lic view.

and video sector is said to touch a record of $2.6

Hybrid Work Model: According to Mint, as per the data given by Nasscom and Job portal, Indeed, 70% of IT companies are planning to make the hybrid work model effective in 2022 as well. The survey states that 66% of the respondents reported higher work satisfaction to work at home remotely companies have also seen high productivity by saving on rentals and transportation and others. Alok Bansal, MD, Country Head, Vision-net India stated to Mint that companies will put in place the hybrid model with a tailor-made twist for their employees in 2022. EV: The new EV technology is improving in the automobile sector as a result of the technology growth. The demand for consumer electronics is on an upper-scale with the consumption patterns that are set to improve the value of technology commodities. As a fuel, an economic commodity is proceeding on an increased scale, opting for EV is stated to be budget-friendly as electricity is cheaper than petrol/diesel prices. Tax benefits are offered to EVs, and the Indian Government has allowed a deduction of up to Rs.1.5 lakh for interest paid on loans taken for buying EVs.

billion by 2025. IT industry: The new labor code in India has started a 4-day workweek with, 12 hours of work on these 4days.The labor minister of India has asserted that 48-hour work per week criteria have to be met. This act results in the reduction of take-home pay for employees and higher Provident Fund. This trend in the workspace prioritizes the employee’s mental health the recovery of the IT industry in India is on a slow path due to the pandemic. This profitable approach for both employers and employees can be projected as a healthy stand. Great Resignation: Amidst the pandemic situation, the competition criteria among the labor population have been declining. the shrinking pool of The workforce causes a major interruption in the industries. The growth of the software market is enlarged, where the growth of the Indian software market is said to be surpassing $8.2 billion in revenue in 2020 at a CAGR of 14% between 2020 and 2025. In this slow-growth phase, the strategies to combat the great resignation criteria involve understanding employees’ priorities and needs, a friendly environment, and more.

Media industry: OTT platforms have reached a higher peak in the pandemic era, which could be continued in the next year’s race in the entertainment industry. Building richer connections with audiences amidst the pandemic situation has led to higher returns for the media industry The shifts are taking place in the media industry, where digital products and online sales are seen on an accelerating

Article by Ramya. S

Business

A new report by YouGov finds

a steady level, with proportions

music streaming consumption

that two in five (39%) Singapor-

across all age groups to increase

declines with age, with those

eans aged 18-24 are expected to

their consumption. The greatest

aged 18-24 appearing most like-

up video streaming consumption,

anticipated increase will be seen

ly to increase consumption in the

following an already accelerated

in those aged 45-54, with 25%

next 12 months (43%), while 55+

rate of growth in such services

and 22% of them to up use of live

year olds are least likely to do so

amid the pandemic.

and non-live TV respectively. Giv-

(12%).

en that Singapore as a nation is YouGov’s Global Media Outlook

faced with an ageing population,

Consumption of radio and pod-

Report 2022 explores how con-

as outlined in Singapore’s Popula-

casts, comparatively, is at com-

sumption of media has changed

tion White Paper, it is interesting

parable levels.

globally in the past twelve months

to note that along with streaming,

and identifies which media be-

TV viewing is expected to remain

This

haviours consumers are planning

popular within this cohort.

streaming both video and audio

propensity

continue

content is echoed in the subscrip-

to stick with in the future. When it comes to streaming

tion habits of young consumers.

Although video streaming is likely

music, we see an inverse re-

Analysing the subscription hab-

to dominate consumption, tradi-

lationship

consump-

its of those aged 18-24, two in

tional video media will persist at

tion and age. Intent to increase

five (43%) currently subscribe to

between

Business

video on demand and are likely

Listen, Read and Social chan-

that a high proportion of consum-

to continue next year. Similarly,

nels of media consumption. As

ers are unlikely to change their

more than half (52%) currently

consumer media consumption

media behaviour dramatically in

pay for music streaming services

patterns continue to evolve and

the next 12 months. Looking at

and are likely to continue next

adapt to the pandemic-caused

the growth drivers of media con-

year.

disruption across different re-

sumption in the next 12 months,

gions, our data sheds light on

all are digital. Video streaming

In addition to this, nearly one in

growth opportunities for me-

services have further tightened

ten of these young adults (8% for

dia planners and brand market-

their grip on viewers in the wake

VOD and 9% for music) currently

ers alike, whilst also revealing

of the pandemic and are likely

do not subscribe to video stream-

which digital trends are likely to

to register the biggest growth in

ing platforms but will consider

stick around in the future, and

consumption in the coming year.”

paying next year, highlighting a

which global markets and demo-

clear growth opportunity within

graphics are encouraging this

this cohort.

stickiness.

Jules Newby, Sector Head of Me-

“When it comes to the ‘stickiness’

dia at YouGov said: “Our report

of consumers’ media consump-

takes deep dives into the Watch,

tion behaviour, our data suggests

Business

Half of the workforce in Singapore could switch jobs this year: Qualtrics Report As organisations across Singapore navigate record

– taken from the Qualtrics 2022 Employee Experi-

job vacancies in the race for talent, new Qualtrics

ence Trends report – highlight the critical need for

research reveals the volume of employees plan-

employers to prioritise improving the employee ex-

ning to remain with their current employer for the

perience in order to attract and retain talent in the

next 12 months is just 53 per cent – the lowest of

current business environment.

any country in Asia Pacific. The Qualtrics findings 14

Business lighting a shift in employees’ mindsets. Despite a slight drop in intent to stay over the last 12 months (-3%), employee engagement and wellbeing have both increased. However, resilience at work has dropped 11 per cent in the same period – suggesting the current levels of wellbeing are not sustainable without action. A key area for employers to focus on in hybrid environments is ensuring employees feel comfortable to take a sick day, with 18 per cent saying they would not despite feeling unwell.

For organisations wanting to retain talent, the top driver of intent to stay right now is creating a culture of belonging. Wellbeing, growth and development opportunities, and being customer focused were also called out as drivers of intent to stay and engagement in Singapore. These findings represent a slight change from 12 months previously – when aside from belonging, engagement was driven by organisational efficiencies and confidence in leadership – high-

Many Singaporeans are also underwhelmed by the technologies provided in hybrid environments, with just a quarter (24 per cent) saying it meets their expectations. Dissatisfaction with technology could be reducing productivity, with 36 per cent of respondents saying their productivity has been negatively impacted by the tools provided. At a time when businesses across Singapore are looking for new ways to attract and retain talent, while simultaneously managing a shift in the ways of working, the Qualtrics research reinforces the importance of regularly listening, understanding, and acting on employee feedback. By better and more frequently understanding the complete employee experience delivered – from the technology used through to

levels of wellbeing and the drivers of retention – organisations can quickly and confidently design new and improved offerings aligned to changing employee expectations. “For businesses in Singapore to be successful in attracting and retaining talent in the current environment, they need to adopt new mindsets, and continue to define and iterate their new ways of working. As seen in the Qualtrics findings, addressing the challenges faced are not as simple as setting a new work schedule or offering higher salaries. People’s experience at work, and the career decisions they’re making, are being influenced by multiple factors, meaning the ability to quickly and easily identify and respond to the issues having the biggest impact is a significant advantage,” said Lauren Huntington, Employee Experience Solutions Strategist for Qualtrics in Southeast Asia. Qualtrics and SAP recently announced the Centre for XM Innovation in Asia, which is focused on advancing local and regional experience management capabilities. Supported by the Singapore Economic Board of Development, the Centre is focused on helping organisations redefine their customer and employee experience in response to evolving expectations and needs. Press Release Received over Mail

Business

including data centres and other network infrastructures. In order to get more insights about the trends in cloud adoption amongst businesses and to analyse the overall growth of cloud and data centres across the globe we talk to Sridhar Pinnapureddy (pictured below), CEO and Founder of Cloud4C. The CtrlS data centre in Bengaluru

With the advent of 4G cellular networks, India saw a sudden spurt of mobile internet users. With accessible high-speed internet, people started consuming data for an entirely different purpose and the needs of these high-speed mobile internet users kept on increasing. As India got engulfed in the pandemic and state-permitted lockdowns, it led to a whole new boom of internet usage across the country. The rising digitalization revolution led to the rise in demand for auxiliary services,

Give us an idea about the scale and volume of the global data centre market. Which countries are currently in the forefront in this market? According to a report by Gartner, data centres are expected to grow by 6% from 2020 to 2024. Despite positive figures, the industry was hit significantly in 2020 where the market declined by 10.3% as the pandemic slowed down cash flow and market investments. However, we foresee that the global data centre market will

recover and bounce back by the end of this year. In fact, the same report estimates that global end-user spending is expected to reach up to US$200 billion by the end of 2021, as the world slowly recovers from the pandemic. Countries most competitive in the datacentre market include the U.S, U.K, Germany where in Asia; China, India and Japan take dominance of the market. These countries have the largest number of data centres located across its region, with more expected to grow in the near future. Building a data centre requires ample space, talent and resources where countries like the U.S, China and Japan are ready to be major players in the industry. A rather more interesting global trend is in the rise of green data centres. Reports predict the green datacentre market value to reach a highly promising USD

Business 140 billion by 2026, growing at 19.1% CAGR from today. Global data centre vendors are now delivering ECO modes which is the most energy-efficient UPS operating mode. In addition, the rise in the adoption of AI and smart technologies to address cooling and power efficiency is greatly contributing to the green datacentre vision. At CtrlS too, we are fully committed to sustainable solutions, focusing on green energy investments and achieving fully carbon-neutral operations across all our data centres by this decade. Please give us an instance of a sector that has increasingly ventured into the world of cloud technology during the pandemic. Being present in 25 countries and 52 locations globally, we observed that there has been an increase of cloud adoption in the healthcare, education, banking and finance services, retail, power and energy, IT-Telecom, manufacturing, public sector industries to help them in their digital transformation journey. These industries are some of the most crucial during the pandemic and moving to cloud benefits all stakeholders including – the organization itself, employees, and customers. Hybrid cloud remains the most favorable type of cloud as it possesses the benefits of both the public and private cloud at a relatively more affordable cost. Cloud4C offers services tailored for clients in their specific industry to provide the utmost support for them as a prominent cloud player in the region. What was the condition of the cloud services market before the pandemic and during it, across the globe and specifically in the APAC? The APAC region consists of over 30 countries, with every country at different technology maturity stages – with some countries being more ready for cloud adoption. Before the pandemic, cloud seemed to be an option for many organisations, as adopting cloud can be costly.

Also previously, companies and regional markets approached cloud adoption as a strategy to enhance their competitiveness, becoming cost efficient and to enhance their overall business efficiency. However, the pandemic had transformed the ‘good to have’ mindset to a ‘must have’ one. Cloud adoption is an integral part for business and enterprises to ensure security and compliance, data protection and digital innovation. As a result of the pandemic and enterprises seeing the importance of cloud, APAC is predicted to be the fastest-growing market digitally with a CAGR of 117% over the next three years, according to the APAC Digital Skills Index 2020. Based on the GlobalData report, the cloud-computing related services is also expected to grow at a compound annual growth of 19% for the next three years. For Southeast Asia particularly, it is eager to embrace cloud adoption this year to unlock strategic values and tap onto more business potential within the region. Singapore takes the lead here, especially with the government announcing plans and measures to help enterprises digitally transform. Similarly, many other governments in the region are implementing policies or strategies to encourage cloud adoption among businesses. How can the current and the upcoming data centres across the globe and in the APAC survive the onslaught of the tough competition? Being in the ever-changing tech industry, it is important to remain innovative in the offerings, services and solutions. Staying relevant in the industry and market also requires businesses to adapt to the needs of people. Hiring a strong research or analytics team helps to predict future technological advancements which may be the gamechanger for the business and all the stakeholder.

Excerpts of an email interaction with Ujal Nair

Cybersecurity

McAfee Enterprise, the US-based cybersecurity company, had recently released Advanced Threat Research Report: October 2021 that put a spotlight on cybercriminal activity. The report mainly focussed on ransomware and cloud threats in the second quarter of 2021. According to the report, the government institutes were the most targeted sector in Q2 of 2021 with a 64% increase in publicly reported cyber incidents. The government institutes were also the most targeted sectors by ransomware in Q2 of 2021 followed by telecom, energy, and media & communications. Financial services were targeted the most among reported cloud incidents, followed by Healthcare, Manufacturing, Retail, and Professional Services. Q2, 2021 saw the emergence of Singapore as one of the top 10 countries with the most cloud threat incidents reported. In order to learn more about the report and get some insights into the data source for the report, we talked to Jonathan Tan, Managing Director for Asia at McAfee Enterprise. The following are the responses from McAfee Enterprise-

Cybersecurity We can understand why the Fi-

confidential engineering specifi-

As per your observations, why

nance sector would be the most

cations. The healthcare industry,

was the government sector tar-

targeted by cloud threats, but

in particular, often stores sensi-

geted for ransomware in Q2 of

what about the manufacturing,

tive patient data – a highly covet-

2021?

healthcare, energy and the tele-

ed asset among cybercriminals. Governments provide critical in-

com sector. What are the particular gains from cyber-attacks on

Another reason to target these

frastructure that cannot afford

these sectors?

sectors for their valuable data

disruptions that will bring these

shifting cloud security to accom-

public services to a standstill.

It’s all about data – the ‘new oil’ of

modate a more flexible pandemic

What’s more, the government

the digital economy today. McA-

workforce and the reality is that

houses highly sensitive infor-

fee Enterprise research previous-

most organizations often only

mation and a data breach could

ly found that 83% of organisa-

have basic security solutions

potentially escalate into an issue

tions store sensitive information

which may introduce serious

of national security. The high-

in the cloud, and 1 in 4 compa-

cloud security vulnerabilities. Or-

stakes environment in which

nies using public cloud services

ganisations that have suffered

governments operate render ran-

have experienced data theft by a

major financial loss or disrup-

somware a particularly powerful

malicious actor. In the dark web,

tions are wake-up calls on why

weapon against them, such that

such stolen data can be sold for

organisations should be invest-

the government sector may be

a significant amount of money,

ing more in security solutions for

relatively more willing to pay a

such that data theft is now an

peace of mind for their business-

ransom than risk the fallout.

increasingly lucrative trade for

es and the future. Governments also operate at

these sophisticated cybercrimiAccording to McAfee Enterprise’s

a scale that is far greater than

Cloud Adoption and Risk Report,

most organisations in the private

the manufacturing industry saw

sector. As government agen-

healthcare, energy and telecom

the largest spike of 144% in enter-

cies move more and more mis-

sectors, all these industries hold

prise use of cloud between Jan-

sion-critical applications and ser-

sensitive data that has real value

uary and April 2021, significantly

vices to the cloud as part of their

in dollars and cents. More than

higher than the average overall

‘’cloud-first’’ agenda, and with the

that, these industries have also

enterprise increase of 50%. In the

digitalisation of the public sec-

seen a rapid increase in the adop-

same time period, there was also

tor and its associated services,

tion of cloud-based solutions

a 630% leap in external attacks

the extent of its attack surface

as they find these alternatives

on the cloud. With the rapid shift

is growing rapidly. Without the

cost-effective and flexible when

in the adoption of cloud-based

necessary safeguards in place,

compared to physical infrastruc-

solutions, organisations, espe-

the government sector can easi-

tures The manufacturing industry

cially those who are just moving

ly become a vulnerable target for

finds the migration to the cloud

to the cloud, were likely caught

malicious actors.

necessary to support their sys-

by surprise – turning them into

tem innovation and processes to

prime targets for cybercriminals.

nals. From

the

manufacturing

store data, like warranty data and

That said, ransomware attacks in the government sector are not

Cybersecurity inevitable. Regulators and pol-

as bank documents. In the worst-

are updated regularly. For exam-

icymakers must take steps to

case scenario, malicious actors

ple, McAfee Enterprise found crit-

mitigate such threats and put in

can use such personal informa-

ical vulnerabilities in two types of

place a comprehensive national

tion to commit identity theft.

medical infusion pumps that are used to deliver medication into

cybersecurity plan. There needs to be a data-based discussion

Identity theft is often a stressful

a patient’s body. With more than

with leadership to decide how to

and traumatizing experience that

200 million IV infusions admin-

balance the daily blocking and

can cause financial fallout and

istered each year globally, this

tackling of threats with limited

other long-lasting repercussions.

has significant implications for

complication to the continuation

For instance, malicious actors

the global healthcare industry.

of operations. On a wider scale,

may use a stolen identity to get

These vulnerabilities could be

governments will need to come

away with crimes like a traffic vi-

maliciously exploited to modify

together to share intelligence

olation or misdemeanour. Left in

a pump’s configuration, posing

and take action against criminal

the dark, victims may not even

the risk of an unexpected dose

groups. Singapore, for instance,

know that there is a criminal re-

of medication being delivered to

is leading the way in ASEAN, with

cord tagged to their name, which

a patient.

the launch of a new regional cy-

could even affect their job appli-

bersecurity training centre that

cations or credit score.

Clearly, ransomware is a growing threat that can inflict signifi-

will facilitate conduct research, knowledge sharing and cyber-

Asia has also seen a few ransom-

cant damage on businesses and

security training among ASEAN

ware threats on critical public

their customers. While it may be

member states. We believe that

health infrastructure, with ma-

tempting to give in to a ransom

this is a step in the right direction

jor hospitals in Indonesia and

demand, doing so would only re-

towards building a safe and se-

Thailand falling victim to such

inforce the idea that ransomware

cure cyberspace in Asia.

attacks. In Thailand, the cyber-at-

is a viable business model – and

tack damaged patient medical

even encourage more attacks in

Give us some instances of some

records, cut off the hospital’s

the future. In the long run, organ-

dire consequences of ransom-

landline telephone and rendered

isations need to address the root

ware and cloud threats in the re-

its patient database inaccessible.

cause of ransomware threats by

cent period in Asia.

Such disruptions could delay the

taking precautionary measures

delivery of vital medical services,

and keeping their cybersecurity

Ransomware attacks often result

posing a serious risk to public

systems up-to-date.

in data leaks that can damage

health and safety.

an organisation’s reputation and have far-reaching consequences

Unfortunately, it is not only

for affected individuals. Earlier

healthcare data that is vulnera-

this year, an insurance group in

ble to attacks and poses serious

Asia was hit by a targeted ran-

risks. As the healthcare industry

somware attack, resulting in the

looking to invest in healthcare IoT

theft of customer data such as

devices and cloud adoption, they

medical records, screenshots of

must first ensure that the security

As per an email interaction with

IDs and passport pages, as well

features built into the IoT devices

Ujal Nair 21

Education

Education The distance education platforms have picked up

With Singapore emerging as the top contender for

quite a pace in 2020, largely due to the pandemic. It

the best higher education facilitator in Asia, it is ob-

led to the rise of many Edtech companies during the

vious that we see a lot of high-end, innovative and to

period. As per a report, the global edtech industry

some extend, market disruptive, edtech companies

was valued at USD 89.49 billion in 2020. The same

here. One such innovative education technology

report predicts that the industry could grow at a

company is Gnowbe. World Business Outlook spoke

rate of 19.9% from 2021 to 2028. The induction of

to So-young Kang, CEO of Gnowbe to learn more

Augmented Reality and Virtual Reality technologies

about the opportunities and strategies of some of

have made the prospects of online education even

the latest edtech companies today.

more enticing. With the advent of new players in the market came the introduction of new innovative

Speaking about the factors driving the growth of

learning solutions. One such learning platform is the

the edtech companies in the APAC region, So-young

microlearning platform.

said, “One of the factors that are driving the growth of the edtech companies in the APAC region is the

Unlike the conventional style of teaching, micro-

fact that there are over 2 billion deskless workers.

learning platforms deliver the content in small but

These are your retail workers, the employees from

precise nuggets. As per the industry definition, it is

hospitality, the technicians, the field workers, the

the kind of content that is focussed on only the key

factory workers and many more. In the past, we

essential topics in the curriculum designed in a way

tried to bring everyone together physically, but with

that allows fast absorption and long retention of the

COVID-19, it has become very challenging. In India,

subject matter. This is one of the reasons why 94

for example, how do you communicate with people

percent of educators and trainers or development

in different ends of a region. They might not have

professionals prefer the microlearning platform.

good internet access. This is also the reason why we

Even the students and the participants are allured

have so many clients from Africa where companies

towards the prospect of any time, anywhere, inter-

are choosing Gnowbe for its smartphone-friendly

active sessions of the topic of their choices.

approach.”

Education Compressing topics, expanding interests Microlearning, as a concept takes long-form con-

adopting some form of microlearning. Social inter-

tents and breaks them into micro bits. It does not

active-based learning is a big aspect of Gnowbe

mean that it becomes more effective for some. It

and So-young has observed that all the age groups

just breaks a long video and breaks it up into bite-

engage with each other with equal ease. It is more

size videos. What is more important in microlearn-

about the learner persona than it is about the age

ing is personalization, participation, and a group-

group. One of the programs at Gnowbe is giving the

based approach to the content which makes it more

users the ability to take actions and apply and prac-

effective. However, it is being argued that these plat-

tice through these micro-actions. A user can talk

forms cannot be used for complex topics.

to another user, follow that user and find out what they like, take a photo and a video of one’s achieve-

Deciphering this very misconception So-young ex-

ments and learnings and upload it and so on. The

plains, “ If you have to learn a very complex topic,

app also guides the users to sketch some ideas and

the best way to learn it is by breaking it into small

upload pictures of those ideas. They can take feed-

digestible pieces. This helps us to understand it and

back from other users and share it with others in the

apply it better. So, the more complex the topic, the

community. Users can learn from other community

more you want to break it down and then assess the

members and share their experiences.

understandings constantly. This way the retention power improves and the concept becomes clearer

In a corporate setup, especially during the induc-

and the efficacy of the content goes up.”

tion programs, Gnowbe has developed an application that promotes the social inclusion of the new

She further adds, “Another common misconception

recruits. The app nudges the employees and their

is that microlearning is a passive form and that it

colleagues with certain instructions. For instance,

is all about videos. We believe that microlearning

‘Today, go have lunch with your colleague.’, ‘Tomor-

should be made up of micro-actions. So we have

row, go upload this form.’ ‘Check out this tool that we

videos that demand reflection, action and applica-

are using and learn how to use it.’ or ‘Go talk to your

tion, and social interaction and we believe social

manager’ or ‘Take a selfie with your new colleague

learning is a very important part of the experience.”

at lunch’ and so on. As part of the gamification strategy, the app shows leaderboards, where the users

Earlier, people could not understand what micro-

could see how many actions each new recruit has

learning platforms could offer but now almost 80

completed.

percent of the companies around the world are Investing in the right future SkillsFuture Singapore (SSG) is a national move-

to be one of the approved platforms. When gov-

ment to provide Singaporeans with the opportuni-

ernments take an active role in putting their invest-

ties to develop their fullest potential throughout life,

ments with the skill and partnering in an automated

regardless of their starting points. It provides fund-

and scalable manner, then it leads to a tremendous

ing for the citizens of Singapore to invest in constant

opportunity in the space.

lifelong learning activities and Gnowbe is privileged 24

Education

For the learners enrolled or planning to enroll for skill

daily jobs and become more productive and suc-

upgrading, So-young advises, “Whether you are a

cessful in whatever you are doing. Invite your friends

young person or a not-so-young person, you should

and have a shared experience. Invest in yourself

be always investing in yourself. If you are an engi-

more because you are your biggest asset.”

neer, you should also invest in soft skills and be agile enough for the latest trends. You should be aware of Industry 4.0. You should develop your skills and knowledge beyond your core expertise. Do not give the excuse of not having the time to pursue it. Everybody can manage at least 10 mins a day.” The edtech entrepreneur has revealed that microlearning instructional designer is one of the most sought-after skills today. She explains, “Someone who is really interested in content creation, which is one of the top jobs that are growing rapidly, can take up an instructional designer role and learn to transform content into something really fun and interac-

Article by Ujal Nair

tive. These skills not just help in the digitizing of the content but also helps in being more user-centric.” On a closing note, So-young explains, “Engage in these experiences on the microlearning platform. Don’t rush, take the time to really think about the concept. Think about how you could apply it to your

Education

The digital learning and assessment specialist,

as was the requirement to support learners with

eCom Scotland, has helped the Royal National Insti-

varying levels of digital literacy, using different types

tute of Blind People (RNIB) to significantly improve

of assistive technology.

the career prospects of the 11,000 people with sight loss in the UK who are currently actively seeking

“We’re proud of the positive working relationship

work.

eCom has established with the RNIB and we look forward to working with them on future projects,”

It has done this by working with the RNIB to produce

she added.

three self-directed, online-delivered programmes: one for job seekers with sight loss to help them find

In producing the programme for job seekers with

new opportunities; one for employment advisors,

sight loss, eCom drew on its research for a previous

and one to help organisations become more inclu-

eLearning project with the RNIB on how to structure

sive employers for anyone with sight loss. Further-

eLearning content to make it accessible for screen

more, while developing the online programme for

reader software as well as making it accessible via

organisations, the RNIB has created Visibly Better

most devices. The resulting programme complies

– a quality standard for employers that helps put in

with Web Content Accessibility Guidelines (WCAG)

place practices that will enable the organisation to

standards and regulations.

become an inclusive employer for any potential or existing employee with sight loss.

Soon after launching the online programme for employment advisors, over 2,000 employment ad-

“Since social and technological exclusion signifi-

visors had completed the programme. Comments

cantly affect people with sight loss, the RNIB wanted

from learners include, “I think the training was very

to provide training and support to job seekers with

in-depth and valuable; also very easy to navigate and

sight loss to help them find new opportunities,” ex-

understand. I now feel more confident to support

plained Wendy Edie, eCom’s Managing Director. “Ac-

people with sight loss to look for paid employment.”

cessibility was a key requirement of the programme,

Energy

Ecoppia takes up 400MW hybrid project

from Azure Power Ecoppia, a global leader in robotic cleaning solutions

The robotics’ deployment, expected to commence

for photovoltaic solar, announced its first ever hy-

the first half of 2022, will feature Ecoppia’s full

brid project of 400MW with renowned energy play-

product suit – the E4, the T4 as well as Ecoppia’s

er, Azure Power. This complex project, combined of

latest addition – the Ecoppia H4 – powered by the

two types of installations – fixed tilt and Single Axis

patented Helix Technology. Combining Ecoppia’s re-

Trackers (SAT), along with challenging terrains and

nowned safety capabilities alongside effective, swift,

varied structures, could prove to be another exem-

and smart cleaning, the H4 is designed to cater the

plification for Ecoppia’s wide capabilities to tailor a

growing needs of site developers. Using safe micro-

long-term and cost-effective solution for leading en-

fibers and controlled airflow, the H4 channels dust

ergy players.

and dirt particles downwards without accumulating

Energy

them by simply moving horizon-

agreement with Azure, empha-

“With this project, Ecoppia solid-

tally while cleaning vertically.

sizing Ecoppia’s ability to supply

ifies its ability to do so, offering

future needs of client’s expanding

Azure Power a wide spectrum of

operation.

autonomous robotic solutions,

Azure Power is part of a long list of tier-1 energy players, under-

supporting their expanding ef-

standing the need for a holistic

“When Ecoppia was founded 8

forts. We believe that with Ecop-

solution, able to cope with their

years ago we had one simple

pia’s newest product, the H4, join-

massive pipeline on different

goal in mind: to allow scalability

ing the Ecoppia portfolio, energy

geographies even with the most

and enhance profitability for large

companies will be able to achieve

challenging layouts. The project

solar sites around the world” said

faster ROI while safeguarding

is part of Ecoppia’s framework

Jean Scemama, CEO of Ecoppia.

their assets”.

Energy

eCom Scotland becomes Offshore Energies UK member, aims new alliances and reforms Scotland’s leading provider of

year or so, we want to support

forums and workgroups – nota-

digitally delivered learning and

Offshore Energies UK – the UK

bly its ‘Skills and Employment’

assessment

eCom

energy industry’s leading asso-

forum – enabling eCom to help

Scotland, has become a member

ciation which informs, engages

shape the industry’s agenda and

of Offshore Energies UK, the lead-

and champions the UK offshore

work collaboratively with indus-

ing representative body for the

oil and gas industry as part of a

try peers to identify and promote

UK offshore oil and gas industry.

diverse energy mix. It also acts as

good practice.

materials,

the gateway to industry networks Susan Gearing, eCom’s energy

and expertise.”

Susan

commented,

“Offshore

Energies UK’s ‘Skills Transition’

sector specialist, explained, “As eCom’s activity within this key

As a member of Offshore En-

forum focuses on sustainabili-

sector of the UK’s and the world’s

ergies UK, eCom has access to

ty issues – and eCom believes

economies has grown in the last

the organisation’s industry-led

that the transfer of knowledge

Energy

Susan Gearing, eCom’s energy sector specialist

and skills from oil and gas to renewables is going

lishing a case study of its eAssessment programme.

to be key over the next few years. Moreover, as an

Developed with the International Well Control Forum

Offshore Energies UK member, there’s also the op-

(IWCF) – the only independent body focused on oil

portunity for us to help in developing and delivering

and gas well control planning and accreditation –

industry-wide initiatives and programmes, as well

the programme has already assessed some 30,000

as engage with governments and other organisa-

candidates online, in just over a year.

tions with a stake in the industry’s future.” The UK offshore oil and gas industry benefits our These organisations include external stakeholders

lives in many ways. Its products underpin modern

such as the Oil and Gas Authority (OGA), the UK

society, supplying energy to power industry and

Government’s Departments for Business, Energy

heat homes, fuel for transport to carry goods and

and Industrial Strategy (BEIS), Environment, Food

people all over the world and the raw materials used

and Rural Affairs (DEFRA), HM Treasury, along with

to produce many everyday items. Through its exten-

various government agencies, the Health & Safety

sive supply chain, it employs hundreds of thousands

Executive (HSE), academics and consultancies.

of people and makes a major contribution to the UK economy in terms of tax revenues, technology and

Offshore Energies UK has recently highlighted some

exports.

of eCom’s work in the oil and gas industry by pub-

Feature Story

Observability: Collecting Data, Delivering Insights, Driving Productivity The recent aircraft crash in Chi-

different scenario, some of the

operations, and bringing that into

na again brought to the fore the

most advanced IT infrastructures

a view where organizations have

importance of black box data

today also require real-time mon-

real-time insight to make deci-

for flight monitoring and, in this

itoring and that is where the Ob-

sions. It can be used to surface

case, crash analysis. Black Box or

servability platform comes into

data and insights about custom-

‘Flight Data Recorder’ compiles

play. They run applications that

er engagement, issues resolu-

data from all the sensors and oth-

could lead to a world of chaos

tion, or to achieve business opti-

er types of equipment on board

if it ever crashes. Observability

mization. Observability platforms

to help the ground crew and the

platforms help keep these appli-

can ingest data from anywhere

on-flight crew to understand the

cations up.

and visualize the information in a way that allows organizations

status of the aircraft. Apart from this recorder, the plane also has

The advanced observability plat-

to take informed actions for their

several types of equipment that

form that we see today is about

business.

aid in real-time monitoring and

effectively collecting real-time op-

forms provide organizations the

analysis. The technology has be-

erational insight of how the IT in-

ability to understand the internal

come so prominent and efficient

frastructure of a company works,

and current state of an IT system

that it has also started appearing

whether that’s on its B2C engage-

based on the data it generates

in some on-ground automobiles.

ment learning channel, IT opera-

such as metrics, logs and traces.

In a similar setup but in an entirely

tions, or online channel business

This data can be processed into

Observability

plat-

Feature Story events and KPI measurements to drive actionable

Relic also played an important role in the rollout of

insights into system performance and security.

the Aarogya Setu app, an Indian COVID-19 ‘contact tracing, syndromic mapping and self-assessment’

New Relic, a US-based software company that spe-

digital service developed by the National Informat-

cializes in software solutions for tracking perfor-

ics Centre under the Ministry of Electronics and

mances of IT infrastructures, recently expanded its

Information Technology. The top executives of the

operations in India. The company is already credited

company, Ben Goodman, SVP of Asia Pacific and

for being part of the success of many companies

Japan and Vidhur Bhagat, General Manager, Enter-

in India including Capillary Technologies, CaratLane,

prise Business India joined in the conversation.

Practo, Unacademy, ZestMoney and more. New Developing ‘insight’ in IT What began as a tool to understand application habits later moved toward cloud solutions with increasing reliance on virtual infrastructure and networking. Ben further revealed, “The version of observability we have today covers cloud operations, applications, to synthetics and helps application software become a core part of any business.” Vidhur further explains, “Observability has been a buzzword in the IT Ops, DevOps, and Security Ops space for a few years now. While the roots and origin go back to the 1960s, if we read about control theory, the debate around observability continued until 2019.”

Vidhur Bhagat, General Manager, Enterprise Business India and Ben Goodman, SVP of Asia Pacific and Japan

Today, an observability platform is the core domain for developers, site reliability engineers (SREs) and business analysts. Globally, there are about 15 million developers. If you look at the Asia Pacific and Japan (APJ) region, there are about 7.4 to 8 million developers, SREs and business operations specialists whose craft is built around insight and actionability. Ben predicts that the userbase among developers and SREs across the Asia Pacific and Japan region is growing at a CAGR of 9 percent. The rising adoption of cloud and digital technology is largely responsible for the growth of the observability market, added Vidhur. 33

Feature Story

Businesses today increasingly depend on digital channels for customer satisfaction and revenue. 80-90% of the end-user wait time is experienced in web browsers and across the network. Therefore, organizations that are focused only on uptime miss huge opportunities to increase customer engagement and improve business results. This is where observability and New Relic come in to help customers optimize their monitoring portfolio to drive business outcomes. Analyzing data from the customers, for the customers Ben explained that Observability is a platform that helps organizations to run their systems more efficiently, consistently. Observability platforms are also used as perpetual optimization tools by organizations who are either running in the cloud or migrating to the cloud. In the world of Digital Marketing, the Observability platforms are preferred to gain real-time insights about customer experiences. Ben shares an example for this, “Consider abandoned carts on e-commerce sites. Understanding how many carts were abandoned because of bad experiences versus a bad payment gateway could be key. If you can tackle that in real-time and feed that into a orkflow, you can drive monetization.”

Feature Story The most popular use case of the Observability platforms is the real-time insight of the project they are working on. It helps the developers drive better productivity, gives visibility on how successful they are with their goals and even fosters cross-border collaboration. This in turn helps in employee retention and development.

New Relic Digital Experience Monitoring (DEM) solutions empower DevOps teams to benchmark and improve web and mobile performance. By extending New Relic from applications and infrastructure into websites, mobile apps, and all critical endpoints, teams can troubleshoot production incidents faster, and optimize the customer experience across web and mobile, in one unified platform.

- Vidhur Bhagat

Bangkok Bank relies on New Relic to manage the explosive growth in demand for mobile and digital banking. Zalora, a leader in the Asian industry, leverages a comprehensive toolset from New Relic that offers different features in a single platform that is easy to integrate.

- Ben Goodman From the newly flourishing India market, Vidhur confirmed, “With our platform, Bengaluru-based omnichannel loyalty management and customer engagement platform, Capillary Technologies saw 75-80% improvement in troubleshooting times, cutting issue resolution from over an hour to less than 10 minutes. The uptime and platform stability improved significantly, from 99.5% uptime to consistently hitting 99.9%.” An Indian edtech unicorn called Unacademy is using the observability solutions from New Relic to visualize, analyze and troubleshoot their entire software stack in one connected experience.

Feature Story

Bridging the gap between tech and business Ben wants the tech industry to understand that the Observability platform is not just a tool to implement and use. A strong observability domain expertise is required for maximum yield within the business. “An observability dashboard will give the boardroom a view of the health of the organisation and the C-suite and the non-technical stakeholders will start to understand the benefits of observability and its criticality to the business. Thus, acting as a bridge between the tech and business.”

Feature Story

Implying on the importance of this tool, Vidhur said, “The observability market is a direct beneficiary of cloud adoption and the digital adoption trend globally. Observability will be the next battleground for customer experience. Open telemetry adoption will reach critical mass and central observability teams will become the norm, thus, no longer being relevant only to technology giants.”

Finance

cryp-

activities beyond the digital realm,

purpose and ensure common di-

to assets digital exchange, is

and create a safe space for cryp-

rection. We welcome everyone to

launching what is said to be

to enthusiasts all across Asia to

make full use of the facilities at

Asia’s first crypto hub in the pic-

exchange technical knowledge

T-Hub – whether you’re a trader,

turesque island of Bali, Indonesia.

and expertise, and drive innova-

DeFi farmer, general crypto in-

Coined ‘T-Hub’, the centre will act

tion to take crypto and its com-

vestor, a creator or builder of on-

as a physical stomping ground

munity to greater heights.”

chain platforms, a stakeholder

Tokocrypto,

Indonesian

of the blockchain and cryptocur-

for Asia’s crypto community, giving them a space to gather, ide-

Spanning 1000 square feet, the

rency industry, or just someone

ate, create, improve, innovate or

state-of-the-art

TKO-powered

who’s interested in learning more

simply live the crypto lifestyle,

facility will have media halls,

about blockchain and cryptocur-

through the sheer utility of Toko

discussions rooms, co-working

rency,” says Teguh Kurniawan

Token (TKO). It aims to empower

spaces, and F&B outlets. Asia’s

Harmanda, Chief Operating Offi-

the crypto community by equip-

crypto community can look for-

cer, Tokocrypto.

ping them with the knowledge

ward to gaining more blockchain

and skill sets needed to capital-

and crypto-related information

T-Hub is part of the vast and ev-

ise on the endless opportunities

at T-Hub, and taking their exist-

er-growing Tokoverse built by

in the crypto economy.

ing knowledge to greater heights

Tokocrypto to further spread

thanks to tools and technologies

financial freedom in Indonesia

“Last year, cryptocurrency’s mar-

offered at the centre. Blockchain

and across Asia. Beyond T-Hub,

ket capitalization hit its US$3

and crypto thought leaders in

the Tokoverse boasts accelera-

trillion mark. While we celebrate

Asia and across the globe now

tor programme, TokoLaunchpad,

crypto’s digitally connected na-

also have a go-to place to congre-

Indonesia’s first and largest NFT

ture,

gate and champion new ideas.

marketplace, TokoMall, and mo-

pandemic-induced

lock-

bile application for crypto educa-

downs have highlighted the importance of human connections

“Tokocrypto established T-Hub

and the human touch,” says Pang

to give the crypto community

Xue Kai, CEO of Tokocrypto. “We

a space to come together and

wanted to expand crypto-related

form a collective vision of joint

tion, Kriptoversity, to name a few.

Press Release Received over Mail

Finance

In this article we will analyse a few low-cost eCom-

you get customers to visit it and buy, so you will

merce Sales Strategies that can be very useful for

need to invest in promotion. Lucky for you, how suc-

your business.

cessful your promotion efforts are doesn’t depend on how much budget you spend, but on how wisely

Dropshipping is a business model that’s ideal for

you use it.

new entrepreneurs that want to start building their company from scratch without much budget.

To help you find low-cost ways to promote your products we’ve compiled the top eCommerce Sales

The fact that no large investments on stock or stor-

strategies to help you elevate your dropshipping

age are required means that anyone with that en-

sales on a shoestring!

trepreneurial fire burning in their belly can dropship regardless of how fat their wallet is.

Check out the hottest budget strategies for 2022 below!

If you’ve already got an online store full of trendy, new products you’re still going to have to make sure

Look the part: a sleek dropshipping store

Finance

All your marketing and promotion efforts point to

that 54% of total eCommerce sales will come from

this: your store site. You can invest all the money

mobile commerce sales by 2021, you can’t afford to

you want in expensive and complicated eCommerce

have a poor presence on mobile.

Sales strategies, but if your store is difficult to navigate, gets stuck or requires a lot of scrolling then it’s

Build loyalty with Private label packaging

all for nothing. If you already have a site and some return customSo first of all, if you want your money to stretch as far

ers, you might start to think about building that loy-

as it can go, make sure that your site is pristine and

alty a bit more as part of your eCommerce Sales

specifically that it’s user friendly and responsive to

strategies.

mobile. There are plenty of low-cost options to help you build your store that require no programming

And you’d be thinking right because increasing your

experience or third-party help. Check out our guides

customer retention rate by as little as 5% can get

to setting up stores in Shopify, CommerceHQ, Woo-

you an increase in profit of a full 25%! The reward

commerce and take your pick. With stats showing

for this little investment is huge!

Finance One low-cost way to increase

visit an online store more than

effective way of getting your brand

customer retention and loyalty is

once, this strategy can massive-

out into the world because if you

private label packaging.

ly increase your opportunities to

do get mentioned this will pro-

make a sale.

vide you with endorsement as well as amazing visibility via their

Yakkyofy offers dropshippers this service regardless of how many

And it’s super easy as well as low-

items they buy.

cost: when Yakkyofy fulfils your

All you need to do is purchase

profiles.

order, the card will be inserted in

These in turn can even drive more

the package directly.

traffic to your store or social media accounts. Having an item rec-

packaging, a certain number of bags for example, and ask us to

Micro influencer: freebies and

ommended by an influencer also

print your store logo on them. Our

dropshipping sales

goes a long way to building social proof for your products and

standard bags price is 300 bags for around 60 dollars!

Whatever your niche, there is

brand too.

bound to be an influential public This way your customers will re-

person, blogger, journalist, vlog-

Industry voices to help you sell

ceive your products inside your

ger or entrepreneur that you need

branded packaging differentiat-

to connect with. A super cheap way of creating

ing your store from that of comStudy their online presence and

useful, engaging content as part

find micro influencers, people

of your overall eCommerce sales

You will stand out as a much

that have some followers but not

strategy is to interview experts

more reliable store that invests in

so famous to claim rich rewards

in an area that interests your

presentation as well as products

for their service.

customers.

You can consider micro influenc-

If you sell cycling products for ex-

ers,people that have between

ample, you could interview a well-

2000 and 10000 followers, con-

known cyclist or one of the en-

tact them and offer them one of

gineers on a popular bike brand.

Another budget-busting eCom-

your best items in exchange for a

You can write up the interview

merce Sales strategy offered by

review or an unpackaging video

onto your blog for a low-cost op-

Yakkyofy are branded discount

and your support for their video

tion or run a video interview.

cards that can be printed and

on their channels.

petitors in the same niche.

which will keep your customers coming back for more. Incentives for the next purchase

Like influencers, their populari-

added to your packaging. These are not super famous

ty will give your store more ex-

Typically, these discount cards

people so getting nice items and

posure and position you as the

offer a percentage off the next

support to their account cna help

place to buy specialist items.

purchase, and they help to show

you create a connection and may

the customer that their purchase

even get you a mention or a re-

Customers will keep coming back

is valued.

view on one of their platforms.

to your social media channels or site to find out what new useful

Given that 55% of gift card users 42

This is a low-cost but highly

or entertaining content you’ve got

Finance for them. The interviewee on the

to leave their personal email ad-

it works, and what you need to

other hand gets a platform to talk

dress with you.

stop doing because it’s driving potential customers away.

about what really interests them and free promotional content.

Google ads for dropshippers on a budget

The free and most commonly used tool to help you do this is

Direct emails: a budget solution Dropshippers rely heavily on

Google Analytics. Look at how

Direct mail is far from dead and

traffic from search engines and

people arrive at your site, what

still has a key role to play in the

Google dominates the market on

they do there, which pages they

marketing mix. Reports show

that front. Google Ads is a pay-

linger on and which ones they run

that there is typically a 12% in-

per-click advertising network for

away from like a house on fire.

crease in positive response rates

dropshippers to place ads across

to multichannel campaigns when

Google search, YouTube and

You might discover that one of

direct mail is part of the mix, and

partner websites.

your pages needs to be rewritten or that one social media channel

as you probably have a business email that you run your store with

Its reach is huge, so take time to

is bringing you way more visi-

it’s so low-cost that it’s practically

learn how to use the Google Ads

tors than all the others. Use this

free!

campaign options to create ads

low-cost information to help you

that appear when users search

make other decisions too, like

Unlike social media accounts

for your product key words or

where to invest in future social

that are affected by time-zone dif-

on sites and articles that contain

media advertising campaigns.

ferences and may slip under the

those words. Discover Affiliate Marketing

radar depending on different platform algorithms, direct emails

You don’t need to spend a for-

will always reach the recipient.

tune to improve your ranking,

With affiliate marketing you pay a

just make sure you select your

small percentage of your sales to

To start building an email mar-

keywords carefully and set spend

partners that market your prod-

keting strategy first compile a

limits, so you keep a handle on

uct and send website traffic to

customer and prospect list with

your expenses.

your store. The great thing about this method is that you only pay

the emails of store visitors and customers that opt in to being

eCommerce Sales Strategies:

for the sales you actually get so

contacted with promotions in the

Don’t forget Google Analytics

it’s very easy to track your ROI

future. Make sure you send them

tracking

and to keep costs low.

To sell more you need to clearly

You can accurately track the re-

understand what is doing well,

turn on their efforts by offering

what isn’t and why that is.

a unique url or a coupon code

regular promotions and invites to drive them back to the store. To start building this email list in-

so that when a customer makes

clude an email subscription form on your website or a pop-up offer-

Understanding what is working

a purchase you can see exactly

ing an incentive for signing up. A

on your site and what isn’t is key

which one of your affiliates got

small discount on the customer’s

to helping you figure out what

you the sale and who you need to

first purchase can convince them

you need to do more of because

pay a percentage to. 43

Finance The power of Digital forums and

know them to discover opportu-

groups Although it’s become an

nities for combo deals, joint digi-

annoying buzz-word, networking

tal events and much more.

Pinterest and TikTok. Get creative and try to tell a story about design and beauty. Re-

is still an important arrow to your bow especially when it comes to

Dropshipper

digital communities.

giveaways

contest

and

member that visuals are huge triggers for aspirational purchases so try to show the product

First of all, don’t hesitate to ac-

Even if you are on the tightest

in its ideal setting, creating the

tively join in with forums and

budget ever you probably have a

dream life that your buyers want

social media groups sharing in-

few items you can give away as a

to live.

dustry advice and tips: the whole

freebie in a contest. You don’t need to hire a profes-

point of sharing information is to Contest and giveaways are al-

sional photographer, for a more

most irresistible, and they also

low-cost option check out our full

Second, remember to use social

help to create goodwill at a low-

guides on Instagram Marketing

media to dig out forums, groups

cost around your brand -who

and Shopping.

and chats of people that are

doesn’t love a freebie after all?

grow together not to compete.

And don’t forget Facebook! It’s far

into your specific product niche

from over.

and engage with them in a non-

Promote your contest on your so-

salesy way. Most groups have

cial media to drive traffic to your

rules against promoting products

site and collect more emails for

Facebook ads is still a major plat-

openly on these chats but you’ll

your direct marketing efforts.

form to make sales and promote your products.

find that just dipping in to share some knowledge will really help

Ask winners to share their review

put your store on the map.

on the product to get real-life en-

Its targeted campaigns are pow-

dorsement and prove that you

erful tools and there are plenty

are a trust-worthy seller.

of groups and fan pages packed

Build your brand network

with active users from your niche This tip is totally free to carry out:

Tap into aspirations with social

start building relationships with

media

to engage with. eCommerce

brands and influencers around

Sales

Strate-

your niche. Create a network of

Dropshippers have an advantage

gies: Comparison shopping for

non-competing brands, services

over businesses that sell services

dropshippers

or influencers that know your

or ideas: they can actually show

products and can see the mutual

their product.

As consumers we’re spoilt for choice and most of us tend to

benefit in supporting each other. Don’t forget to use this fact to

shop around before choosing,

Take time to identify business-

your advantage and make sure

especially if it’s not something we

es that are aligned to yours and

you give new items a proper pho-

are buying for the first time.

work in the same area, perhaps

toshoot so that you can use your

selling air compressors for your

images on more visually orient-

Make sure you snare these first-

inflatable pool toys, and get to

ed social media like Instagram,

time clients and turn them into

Finance loyal regulars by getting listed in

dropshippers and what makes their customers tick.

comparison engines. With support on every front, including strategies to grow your brand, Consumers usually rely on Goo-

we’ll help you get your business booming. So what are you waiting for?

gle Shopping, PriceGrabber, Am-

Let us help you take it to the next level.

azon but have a look around and see which ones give you the best return on investment. Just remember to stay price-competitive and follow their rules or you risk getting booted off. Want more support? Yakkyofy is your strategic partner Yakkyofy is the perfect dropshipping partner for you. With just a few click on our dashboard we can help you: Create custom Packaging for your products Insert Bonus card inside your parcel Ship your products in nice bags to your Micro influencers Ship your Give away freebies to your customers So we can basically help you realize most of these eCommerce Sales Strategies easily and a really small investment. Then thanks to our software you

E Commerce

Sale

can completely automate all your daily dropshipping business tasks, end-to-end from sourcing to fulfilment. But it’s also so much more: Yakkyofy is a strategic partner that really understands the needs of 45

Finance

Finance Credit cards are not just one type

credit history. The best of these

usefulness. This habit immedi-

of financial asset, but also an

cards will have features designed

ately lowers your total credit limit,

easy gateway to a better credit

specifically to help develop good

which is critical in the credit build-

score. Having a low credit score

credit habits and monitor your

ing process. In short, the credit

results in high interest rates and,

improving credit score. The most

utilization rate, which accounts

in some cases, credit rejection

common kind of credit card for

for 30% of the credit score, is de-

when applying for new credit

this situation is a secured credit

termined by your current debt as

cards and loans. Despite being

card, which is one that is support-

well as your total credit limit. For

a three-digit figure, credit score

ed by a monetary deposit, which

instance, if you have two cred-

is the primary factor that deter-

acts as collateral for any accrued

it cards with a total credit limit

mines your access to loans; finan-

debts. Often the deposit will be

of £25,000, your lowest balance

cial institutions use these figures

the same value as your new cred-

should be £7,500 to reflect posi-

to appraise a loan request and if

it limit. A secured credit card can

tively on your credit score. There-

it falls short of benchmark, a loan

have easier qualification stan-

fore, instead of closing your cred-

request will be rejected. These

dards, but may be costly if the

it cards, they should be kept open

rejections can be mitigated by a

deposit is a barrier for you. You

to ensure your credit utilization

credit card, which can help you

can also look for unsecured cred-

rate improves.

rebuild your credit scores. Using

it cards that target people rebuild-

a credit card wisely can benefit

ing credit. Look for a card with

your credit score through a com-

no annual fees, free credit moni-

bination factors such as credit

toring and with the possibility of

A low credit score can make it dif-

mix, payment history, and utiliza-

increasing your credit limit. An

ficult to obtain a credit card and

tion rate.

unsecured credit card designed

can also increase interest rates.

for people rebuilding credit has

As a result, making a concert-

Ways to Improve Credit Score

all the benefits of a secured cred-

ed effort to improve your credit

Using Credit Card

it card, without the deposit. Once

score through the use of a cred-

you have found the right card,

it card has numerous long-term

No matter how low your cred-

see if you can prequalify before

benefits. Be sure to use your

it score appears to be, there are

you apply for a credit card. This

credit card wisely, making month-

ways to restore it with a credit

will help you avoid minor credit

ly charges which are repaid in

card. The process entails adopt-

damage from applying to multi-

full, in order to rebuild your credit

ing habits that are trusted and

ple cards in case of a rejection.

score as quickly as possible.

Final Words

known to be effective, such as using a Credit Card Designed for Rebuilding Credit.

Avoid

Closing

Down

Credit

Cards There are credit cards designed specifically for people who are

Most people enjoy cancelling

either building a credit history for

their credit cards when they be-

the first time or rebuilding a poor

lieve they have outlived their

Finance

A good credit score can help con-

line of credit, as well as a mix of

card bills as soon as possible is

sumers with many financial roles,

credit types and a good utilisa-

the best course of action to avoid

and in particular, offers higher

tion rate. If the credit card under

future debt.

rates of approval and better in-

consideration

terest rates on loans and cred-

only card, oldest card, or holding

Myth 3: Applying for a credit

it cards. However, many credit

revolving debt (which would need

card has a negative impact on

builders wind up adopting certain

to be transferred to a different

credit score

credit practices based on popu-

card), it won’t have as much of an

lar myths about credit card us-

impact if it’s closed.

isn’t

someone’s

While applying for a credit card does have an immediate, minor

age, rather than reality. Here are 3 well-known credit card myths

Myth 2: Using the Minimum

negative impact on credit score,

that should be debunked before

Monthly Balance is Fine in a

over time it’s possible that a new

deciding to apply for a credit card.

Case of Financial Pressure

card will actually improve the cardholder’s credit.

There is a widespread belief that Myth 1: Shutting Down a Credit

in times of financial hardship,

The truth of the matter: A credit

Card is a Terrible Move

paying the due minimum month-

card’s recommended utilisation

ly balance is acceptable. As ap-

ratio is at least 30% of total credit.

Most people are hesitant to close

pealing as it may sound, doing so

If someone has two credit cards

their credit card because they are

will only result in large bills, which

with a combined limit of £1,000,

afraid of their utilization rate and

is one of the primary causes of

the minimum amount of cash

credit line plummeting. These

high interest rates.

that should be in both accounts is £300. For someone who al-

two factors undoubtedly have a significant impact on one’s cred-

The truth of the matter: When

ready has credit card debts high-

it score, but there may be times

debts are owed to a credit service

er than 40% of their credit limit,

when a cardholder needs to can-

provider, regardless of financial

adding to the total credit limit is

cel their credit card.

situation, it’s best to deposit the

one way to improve their credit

maximum amount possible for

utilisation rate.

The truth of the matter: It is not

each statement. According to ex-

always a bad idea to permanent-

perts, credit users who pay their

ly close a credit card — in fact,

bills on time save between 10%

some situations may necessitate

and 30% on interest rates each

it. A credit card service provider

year. When there is an unsettled

Credit cards are an important part

that charges an annual rate, and

debt, many financial factors tend

of financial life, but it is not with-

is no longer being used, may be

to resurface in the human mind,

out myths. Knowing about these

too expensive to maintain. How-

and this condition rarely allows

myths gives people an advantage

ever, the impact is variable, and

for breathing space for that in-

over others when applying for

there is a way to mitigate it. It is

dividual. So, regardless of the fi-

new credit cards and using them

important to maintain an older

nancial burden, paying off credit

to their maximum effect.

Conclusion

Finance

To grow your wealth smartly for a financially secure life, it is necessary to think beyond just savings. And to do so, you may want to check out the wide range of investment products as per your financial requirements. There are several investment products such as mutual funds, bonds, stocks, real estate, etc., where you can invest your money to get potential high returns. However, before you invest, you may want to create a blueprint of your investment objectives as it might help you identify and leverage the investment products that 50

align with your financial goals. To help you make your investment journey easier, we have listed a few points that you may consider before putting your money into an investment product. 4 things to consider before you start investing Build your investment plan Having a well-laid out investment plan before you invest may be beneficial for you. In your plan, you may list down your wealth goals at different stages of your life. Doing so may help you get

a better perspective of how you want to fulfil those financial goals. Accordingly, you may invest in short-term or long-term investment products. Professional assistance Once you have your investment plan ready, you may want to opt for the guidance of a financial advisor to identify the right investment opportunities. Most banks provide bespoke Wealth Management services and a dedicated team of experts for each client. By utilizing professional help, you may be able to build a diversified

Finance

investment portfolio. Risk tolerance Types of investments While mapping out your investment plan, you may determine where you are going to use the invested money. If you wish to plan for a comfortable and financially secure retirement, you may want to opt for long-term investment products. Similarly, if you wish to get potential high returns on your invested money within a few years, then you may want to check out short-term investment options.

Most investment products come with risks that may or may not affect the returns but usually high risk products are considered to give high returns and vice versa. It is thereby advised that you may identify your risk appetite before making any investment. Some investment products, such as bonds, come with low risk but may yield potential low returns. Whereas, some investment products, such as stocks, come with high risks but may also yield potential high returns (depending

on the market fluctuations). Final thoughts Investing your money in various financial products can be one of the most effective and smart ways to reach your wealth goals. If you can identify the right investment strategies, grab the wealth-building opportunities and figure out your risk tolerance, you may be able to build a diverse investment portfolio that may help in enhancing your wealth.

Finance

Debunking myths around Asian Business leaders The next dawn in workforce

Particularly in Asia, such myths

global Asian leadership pipe-

transformation focuses on hybrid

around leadership development

line. Organisational posture

work as the new normal. The fu-

are stunting the development

(or lack of it), not lack of skills,

ture of work poses several ques-

efforts of Asian executives. If or-

may be hindering the global

tions for leaders, but one major

ganisations continue to hold on

Asian leader development ef-

concern is how businesses can

to these relics, they will struggle

forts.

adapt to the hybrid working mod-

to develop leaders at the required

el which is set to be the reality for

pace. It is certainly time to de-

organisations. Hybrid work has

bunk

development

quired by leaders to succeed

brought about disruption to busi-

myths and energize the lead-

in regional and global roles in

ness models, workflows and peo-

ership

function.

your organisation and create

ple, creating a need for leaders to

Center for Creative Leadership’s

development journeys to set

have an agile mindset within the

(CCL) research report, highlights

them up for success.

organisation.

seven such myths, correspond-

leadership

development

ing realities, and debunk action In this increasingly fast-moving

steps.

climate, organisations without a

•

Identify key capabilities re-

Be deliberate to curate appropriate

experiences

and

help engineer the right career

leadership development plan will

Myth I: Asian leaders are hard-

moves for executives to hone

hinder their ability to grow. When

er to develop to take on senior

their global leadership skills.

leaders are prepared with the

global leadership roles

right competencies and mindset,

Myth II: Leadership develop-

they are armed with the catalysts

Realty I: Organisations must

ment efforts should primarily

for powering through chaos and

curate compelling development

focus on top-level executives

disruption. This disruption also

plans to create a strong pipeline

presents an opportunity to reset

of global Asian leaders. Organisa-

Reality II: Leadership develop-

the leadership development func-

tion posture may be the biggest

ment must happen across mul-

tion, and view it with an objective

stumbling block, much bigger

tiple levels in the organization to

lens, without biases and prejudic-

than the individual capability is-

maximize ROI on development

es. Only then will organisations

sue.

initiatives.

Debunk Actions:

•

• Sensitize senior leadership

be able to tackle the myths and urban legends, which are aplenty in the leadership development world.

Invest effort in root causing the ‘real’ reason for the lack of

team

and

get

buy-in

Finance

•

leadership development initiatives across multiple levels in the organization.

leadership development course(s) will make you a better leader

Map out the content needs and critical capability gaps across levels, geographies, departments, generations, functions, etc.

Reality IV: For maximum impact, leadership development must happen outside of the classroom as well, including compelling experiences, mentoring, coaching, etc.

Curate the most compelling mix of content and delivery modes for different communities of learners in the organization.

Myth III: Organisations can have one uniform approach to developing leaders across different regions, countries, contexts Reality III: For maximum impact, organizations must tweak leadership development interventions and journeys to suit the Asian context. Debunk Actions: •

•

Refrain from ‘exporting’ leadership development programs and journeys as-is to Asia. Invest energy in understanding business context and culture in Asia, and tweak leadership development interventions accordingly.

Be deliberate to pick countries within Asia where your organization will place talent ‘bets.’ Myth IV: Attending [only]

Debunk Actions: •

Be mindful of the 70-20-10 model while designing development journeys.

•

Be creative in adopting tactics to curate compelling developmental experiences.

•

Curate and promote an experience-driven development culture.

Reality V: HR must find sponsors in the senior leadership team to improve the roll-out and impact of the leadership development agenda.

Do not shy away from ROI conversation with business leaders; build impact assessment and evaluation as a part of the end-to-end roll-out plan.

Myth VI: Effective leadership development can happen irrespective of the organization culture Reality VI: Focus on creating a leadership development culture in the organization, which is a set of beliefs, practices, and behaviors that promote alignment with and commitment towards the leadership development agenda. Debunk A0ctions: •

To roll out a compelling leadership development agenda, start by asking the question “Will the current culture inhibit or promote leadership development?”

•

Educate senior leaders about the need to walk the talk on leadership development.

•

Shape and curate a cultural shift towards a developmental mindset.

Myth V: HR can lead and execute leadership development agenda without a top team/board buy-in

Debunk Actions: •

Find sponsor(s) on the executive team or board.

•

Tie the leadership development agenda with the organizational strategy.

Myth VII: Online/digital learning is less effective Reality VII: Digital learning can be equally impactful [as classroom learning] if designed and delivered keeping the learner

objectives and experience in mind. Debunk Actions: •

Invest energy in designing and delivering a program virtually led by an instructor, and keeping in mind the learner experience and objectives.

Bring in partners with expertise in content, program design, and delivery, to co-create and co-deliver compelling solutions. Future fluent leadership development As organizations fight the seven myths, they must act towards creating future fluent leadership development strategies. The CCL research highlights five directives around creating future fluent leadership development in Asia. One, leadership development in Asia must be ‘Asianised yet global’. While it is critical to leverage global best practices on what works and what doesn’t in developing leaders most efficiently, the capabilities and skills to be developed must be contextualized to the Asian business and cultural context. Two, leadership development in Asia must be ‘high-tech yet high-touch. While technology and digital learning will change the mode of delivery, the human element in learning will stay equally

relevant. Interviewees shared that hybrid models are rapidly emerging where online and physical learning methodologies are converging. For instance, online programs followed by coaching, online learning followed by classroom discussions, etc. Three, leadership development in Asia will be ‘personalized yet scalable’. While digital learning allows organizations to align delivery with individual leaders’ pace and style of learning, it is also elevating the coverage of such interventions. Some interviewees referred to the emergence of ‘personal learning clouds,’ which are a combination of online content, interactive platforms, along traditional tools. Four, leadership development in Asia will be ‘in-house-led yet partner-centric. Several interviewees highlighted the train-the-trainer type of leadership development models to make program delivery

scalable with the help of learning partners. Partners play a key role in training and certifying internal faculty, which then rolls out the leadership development journeys to the broader organization. Five, leadership development in Asia will be ‘experiential yet classroom-based. Learning journeys will mirror the 70-20-10 model more closely in the future, with relevant experiences, and mentoring and coaching components supplementing classroom programs. Owing to the ever-changing landscape of business, technology, people, economy, and society in Asia, the need for leadership development is more pronounced than ever before. Hence, leaders must leverage new business skills to be future-ready. Author: Sunil Puri, Head of Asia-pacific Research at Center for Creative Leadership 55

Finance

Finance According to Coindesk, in 2021,

users to deposit and withdraw

are huge areas of opportunity

the price of bitcoin hit historic

the supported cryptocurrencies

within the crypto space. Besides

heights with mining profit mar-

anytime, anywhere from their an-

being used as a mode of pay-

gins recorded as high as 90 per-

droid phones. It had already com-

ment, blockchain technology has

cent. 2021 also saw El Salvador

menced similar operations on the

the potential to disrupt a number

becoming the first country in the

iOS platform in August 2021.

of different industries from energy management to healthcare

world to accept bitcoins as legal tenders. The year also saw the

We spoke to Sten Ivan, Head

sectors and even the e-com-

US regulators approving a Bitcoin

of Growth for Hodlnaut, to un-

merce industry by lowering costs

futures ETF. It seems that many

derstand more about the latest

and tightening security.

other countries are showing leni-

trends in the cryptocurrency mar-

ency towards cryptocurrency and

ket, the factors that are leading

Challenges: Though many finan-

a lot of favourable policy struc-

to its growth and some key high-

cial institutions are slowly open-

tures can be expected.

lights from the android app.

ing up to cryptocurrencies – think PayPal, Mastercard, and Stripe

Institution-wise, BlackRock and

What are the opportunities, chal-

– we believe more can be done.

Morgan Stanley have opened up

lenges, and threats to the cryp-

While many investors are starting

opportunities for their clients to

tocurrency market across the

to understand the power of digi-

leverage cryptocurrency. Report-

globe? Why does the Asia-Pa-

tal assets, ordinary folks would

edly, the European Investment

cific region look more conducive

still need more knowledge on the

Bank (EIB) used Ethereum tech-

for the crypto market?

topic of cryptocurrencies to fully understand how the tech behind

nology to issue 100 million Euro (121 million USD) in two-year

Opportunities: Decentralized fi-

it has so much potential to im-

digital notes for the first time.

nance and blockchain technology

prove industries.

The European and the American banks served as joint managers

Threats: It is no secret, cryptocur-

for the notes. It also showed par-

rencies are known to consume

ticipation from Goldman Sachs,

tons of energy, which may harm

Banco Santander SA and Socie-

the environment. This can pose a

te Generale AG. Many countries

challenge since one of the main

have conveyed their interest in

priorities of many countries glob-

developing their own central bank

ally is to reduce the environmen-

digital currency (CBDC).

tal footprint. However, there are other methods such as Proof-of-

We found one such innovative

Stake systems that are known to

service provider in the crypto

use considerably lesser amounts

market, Hodlnaut. Hodlnaut is a

of energy. This is so since such

Singapore-based crypto lending

systems do not need highly com-

platform that provides innovative

plex cryptographic algorithms to

financial services for individual

be solved and thus, the costs of

investors. It recently announced

electricity to verify transactions

its Android app that enables

are lower. 57

Finance Asia-Pacific

from not just retail investors but

As we are all aware, El Salvador

region look more conducive for

institutions as well, there is still a

now accepts Bitcoin as legal ten-

the crypto market?

lack of understanding amongst

der, which is a huge step forward

Why

does

the

many beginners and ordinary usAccording to a report by Nasdaq,

ers worldwide. Moreover, since

31% of all crypto transactions

cryptocurrency

from mid-2019 to mid-2020 oc-

its volatility, it may act as a hin-

curred in East Asia. This shows

drance for users who prefer more

that Asian countries have al-

stable investments.

known

for

ready begun embracing the use of cryptocurrency. And one of

Give

the main drivers for this is Asia’s

cryptocurrency market around

mobile-first approach. With the

the

advancements in technologies,

ecosystem and the Android

nearly all aspects of everyday

ecosystem.

world,

idea from

of the

the iOS

life can be done through smartphones. This includes making

There are numerous iOS and

digital payments, paying bills and

Android mobile apps in the mar-

loans, accessing public services,

ket that allow users to dabble

and more – think Singapore’s

in crypto. Whether it is a crypto

Grab app, South Korea’s Kakao

exchange such as Gemini, plat-

mobile application, and China’s

forms that provide crypto lending

WeChat. This mobile-first ap-

services such as Hodlnaut to mo-

proach has been embedded in the

bile apps that allow users to earn

cultures of such Asian countries,

crypto, like Axie Infinity, there are

which then allows for an oppor-

tons of crypto mobile apps that

towards the mass adoption of

tunity for more widespread adop-

users can try out. With the wide

crypto. Additionally, Stripe and

tion of cryptocurrencies since the

variety, dabbling – and earning –

Amazon are both reportedly look-

culture is already on board with

in crypto has become a whole lot

ing to hire a digital currency and

such digital technologies.

more convenient for users now.

blockchain expert and build their

They can earn, trade, and play on

own crypto-focused teams.

What are the prime inhibitions of

the go, which makes it suitable

the common mass in regards to

for the modern-day investor who

Another huge trend that skyrock-

cryptocurrencies?

is constantly strapped for time.

eted this year is NFTs, which was said to have generated over $2.5

One of the main blockers of mass

What are the trends you have

billion worth of sales in just the

adoption would be the volatility of

observed in the cryptocurrency

first half of the year. The trend

cryptocurrencies and the lack of

market across the globe?

of NFTs is expected to extend even further because of the ver-

understanding and knowledge with regard to digital assets.

One of the obvious trends we have

satility and flexibility of NFTs. As

While cryptocurrency has been

seen this year is the uptake in the

such, NFTs can represent almost

seeing an increase in adoption

adoption

any unique item. Since there’s so

cryptocurrencies.

Finance much potential in the NFT mar-

function to increase the success

up to the use of cryptocurrencies

ket, we will definitely see an on-

rate of token swaps amidst mar-

and the market becoming more

going uptick in this space.

ket volatility. A market order is an

mainstream.

order to buy or sell cryptocurrenGoing by the end-user, which

cy at the market’s best price avail-

In terms of trends, we are likely

of the following holds more

able. It is best to opt for a market

to see the growth of altcoins and

potential and why? Trading,

order when users wish to execute

increased acceptance of Bitcoin

retail, e-commerce, and banking.

the trade immediately.

payments as more users and businesses are more attuned to

E-commerce has seen a huge

What could be the possible

the use of digital assets. So far

boost, mainly driven by the pan-

outcomes of the Android User

we have already seen financial

demic. With lockdowns being

Referral Program?

giants slowly adopting the use of crypto, and this trend will defi-

status quo, many individuals have turned to shopping online

The Android User Referral Pro-

nitely prolong. Also, one key trend

via e-commerce platforms. With

gram allows users to earn up to

we are likely to see is the uptake

the pandemic presenting a new

1,100 USDC by simply referring

of more environmentally-friendly

norm, e-commerce has huge

their friends and encouraging

methods of mining crypto. Bit-

amounts of potential to expand

them to sign up via our new An-

coin mining as well as its con-

even further. One such way is by

droid mobile app. We aim to cre-

sumption of energy has had an

accepting cryptocurrency as a

ate a network effect among our

impact on the price of the digital

method of payment for users. As

users and we believe that word-

token as well as the environment.

reported earlier this year, Amazon

of-mouth communications and

As such, we can expect to see

is one such e-commerce platform

reviews from friends are some

innovative solutions for reducing

that is said to be hiring a crypto

of the best, most credible ways

the carbon footprint with regards

team in its payments sector.

to encourage users to sign up on

to the mining of Bitcoin.

our platform. What are the key features of the new Android app from Hodlnaut?

Which factors could lead to

Article by Ujal Nair

promising growth for cryptocurThe Hodlnaut Android App is de-

rency in the coming years? What

signed for convenience and thus,

are the trends to look forward

supports our main features that

to?

are also available on the website. This allows Android users to earn

Factors such as an increase in in-

on the go, anytime and anywhere.

stitutional and retail adoption as

One of the key features of the An-

well as well-designed and com-

droid App is that users are able

prehensive cryptocurrency reg-

to swap their tokens seamless-

ulations globally are integral for

ly on the app without having to

the growth of digital assets in the

source for an external wrapping

coming years. With these in place,

merchant. Plus, users can also

we will definitely see more indi-

opt for our new Market Order

viduals and businesses opening 59

Finance

Money has been a known form of exchange to hold the value of our necessities and belongings, whereas ‘Wealth’ creation is defined by humankind as a primary objective to survive. Money can be held as a designator of our life’s decisions. To bear the vulnerabilities of life’s journey, it is necessary to hold on to money as a safety net. To maintain a proper flow of money to suffice our needs, it is imperative to plan our wealth creation strategy.

have indulged in fewer savings and more spendings. Thereby, financial planning can be stated as a tool that acts as a progressive step to attain financial stability.

Our needs and requirements are largely met as a result of wealth accumulation in the process through structured planning. Planning can be stated as a pathway paved to align our process of financial activities. Financial planning is a core factor related to our survival criteria, which builds our standard of living.

How did you survive Covid-19 pandemic?

The new generation has garnered an affinity towards earning for long and short-term goals. The fondness of both spending and saving has emerged as an essential tool, where millennials 60

We spoke to the Founder and CEO of GoalsMapper Dato Wayne Chen to understand the necessity of financial planning. We learn the role of financial planning platforms in wealth accumulation and asset protection during financial activities. the

As a result of the Covid-19 pandemic, there have been massive changes for businesses and the world. For businesses, the change is for the better. Businesses have become more resilient, with technology helping to increase performance and productivity. At this point, because of the pandemic, a lot of companies are being forced to digitize their operations, especially in the financial advisory industry. Hence, in a way, GoalsMapper is in a good position to

ride the new wave. How much percent of growth have you observed in 2021? We have seen quite a huge growth over the past few years, especially in 2019, where we saw a 70% spike in the number terms of users signing up for our platform. One of the key reasons this was because engagements have overturned from physical to online. A lot of our users, financial advisors, and investment agents are turning to use our platform for a more effective and efficient way of delivering the financial advisory experience. How did you come up with the idea of a financial planning platform? Traditionally, consumers have a vague idea of achieving a financial goal and largely relied on the knowledge and advice of financial advisors. Today, I think the times have changed, driven by changes in the advancements in technology. People get information

Finance

faster and from multiple sources. They are also used to a frictionless process through easy-to-use apps from consumer brands. Hence, their expectations of the financial advisory process today have also changed. They want to have a more holistic overview of their finances to make better decisions, they expect a more dynamic engagement, superior customer experience, and more personalized solutions. They demand a tech-enabled digital process. And at GoalsMapper, our financial planning platform does

just that, to support the professionals, financial advisors, and financial institutions to help them have a more customer-centric advisory experience. Have you observed some kind of difference between the Gen Z millennials and the baby boomers, are their expectations and financial goals different? Today, since we are all experiencing a longer life expectancy rate, and higher cost of living, the whole planning mechanism will

change. So I think that’s where the biggest difference is. The fact is that the younger generation needs to plan earlier and better so that they can cater to living a longer life. As there are a lot of financial consultants coming into the market right now, the competition is getting staggered. What is your view on it? Competition is always a constant. No matter at which stage you are in, there is always competition. 61

Finance Advisors need to know how they can differentiate themselves to stand out in the industry. Having more financial advisors in the industry is good. Financial advisors help to educate the general public in understanding their finances. Having competition also means financial advisors have to continue to upgrade themselves in terms of skills and expertise, as well as leverage digital tools for greater productivity and professionalism. Tell us something about GM Connect, the new CRM that you have come up with? GoalsMapper is a financial planning platform that supports financial advisors and financial institutions in their end-to-end financial advisory process with our suite of SaaS solutions. GM Planner is our financial planning tool that supports the collaborative financial planning experience between a financial advisor and client to make better financial decisions with objectivity and clarity through interactive charts and scenarios. GM Brand helps financial advisors in their branding offline and online with our easy-to-use digital tools. For example, personal websites can be easily customizable with even financial widgets and lead magnets, for inbound marketing.

Finance GM Connect is our latest addition. It is a customer relationship management platform that transforms customer relationship management processes through Omni-channel communication and automation of time-consuming workflows. For example, customers can be engaged across multiple touchpoints with automated communication, including through WhatsApp. In addition, because it is specially designed for the financial advisory industry, effective targeting and campaigns can be launched with relevant segmentation such as net worth, products held, and even protection gaps. Our platform is now available in Singapore, Malaysia, Thailand, and the Philippines. We will be launching our platform in Indonesia by 2022. What are the changes in regulation that you are expecting from the government in the coming days related to finance in your business? Recently, the Singaporean authorities opted for digital signatures instead of physical signatures on all documents. This has increased the accessibility of the products to the consumers and brought more transparency for the consumers. The upcoming structural changes would only prove to be beneficial for the industry.

Please share some insights for the financial advisors, the service providers, and the clients. For consumers, I would strongly encourage them to speak to a professional financial advisor During uncertain times such as this, as jobs are lost and finances are affected, a financial advisor can provide advice on the different options available. A financial advisor can also help consumers to better understand their wealth accumulation and protection needs. Having a forecast and a financial blueprint to work towards the future will help to provide clarity on their financial journey. For financial advisors, we provide professional and holistic personal financial planning to their clients for a sustainable long-term career. They should also differentiate themselves by embracing technology and leveraging it to help them to increase their productivity and position themselves better to stand out. I’m confident that moving forward, with the help of technology and fintech startups such as GoalsMapper, we can build greater trust between consumers and the industry, through the transparency and objectivity that technology provides. Excerpts of a Zoom interaction by Ujal Nair. Article by Ramya S

Technology

A NYC area cybersecurity expert

NBA,” stated Jennifer Mazzanti,

agencies in the United States. Mi-

identifies seven lessons to apply

CEO, eMazzanti Technologies.

crosoft released security patches quickly. However, many orga-

from a review of the prominent 2021 cyber-attacks in a new ar-

Lesson 1: No One Gets a Free

nizations delayed applying the

ticle on the eMazzanti Technolo-

Pass

patches.”

ticle first asserts that no one gets

“It would be difficult to describe

A Wakeup Call

a free pass because businesses

the profile of a typical data breach

of all sizes are targets.

victim in 2021. Large corpora-

Reflecting on the high-profile cy-

tions like Volkswagen and Expe-

ber-attacks of the past year can

The author then urges readers

rian got hit. Even small, low-pro-

provide both the motivation and

to apply security patches quickly

file businesses suffered in the

a blueprint for addressing cyber-

and improve endpoint security.

Microsoft Exchange and Kaseya

security. And the cybersecurity

He cites the REvil attack as an

attacks. Ransomware crippled

experts at eMazzanti Technolo-

example of the need to monitor

manufacturers,

gies bring the expertise and tools

vendors. He also relates where

retail, and more.”

gies website. The informative ar-

municipalities,

business leaders need to keep their data and networks safe.

backups enabled a video game developer to not pay the ransom

Lesson 2: Apply Security Patch-

when attacked.

es Quickly

“Hackers have hit a wide variety

“When hackers exploited vulnera-

of industries this year, from com-

bilities in the Microsoft Exchange

puter manufacturers to insur-

server, they disrupted 60,000

ance companies, schools and the

companies

and

government

63 |63 2022

Finance

Finance Investments are a circular flow

and investing in building materi-

Anything that emits less carbon

of financial institutions working

als, they are investing in compa-

seems to be more viable, finan-

structure. To look at the purview

nies that support climate action.

cially and on the social front. It is

of the cash flow scenario, invest-

The key reason behind the in-

important to take note here that

ments are needed to predict the

creasing Chinese exports is their

the company operates electric

future and survive the present.

macro policies. China’s export

arc furnaces, replacing coal-pow-

When investments take place,

of steel to the world changed

ered furnaces.

the core stature holds on the de-

dramatically last year, as a lot Indonesia is still dominated by

velopmental aspect.

thermal coal power plants. HowSustainability is related to the

ever, many of the local distribu-

resilience of any organization,

tors and the power companies in

Gunung capital approaches envi-

Indonesia have taken the steps

ronmental aspects in the capital

towards a green power project.

flow platform.

Kelvin explained another key aspect of these sustainable green

Gunung Capital is part of the

practices, “The ESG sustainabili-

same organization that operates

ty linked finance helps to acquire

Gunung Raja Paksi, one of the

cheaper credit from the banks

biggest privately owned steel

Kelvin Fu, Managing Partner

at Gunung Capital

manufacturers in Indonesia. Be-

and other developmental financial institutions like the World Bank and IFC.”

ing a private investment compa-

of pressure on the Chinese gov-

ny, it mainly focuses on impact

ernment has been imposed to

investments guided by environ-

restrict their exports to reduce

The EU carbon tax is USD 50-60.

mental, social and governance

carbon emissions, subjectifying

Every time you emit carbon you

(ESG) frameworks. It supports

China’s

significant-

pay additional tax. This is caus-

the environmental cause by in-

ly. Kelvin reveals, “Many players

ing a lot of companies to take

vesting and supporting carbon

have approached us, as our steel

a very serious look into climate

markets, encouraging adoption

is highly competitively priced with

change. That is why in the US and

of decarbonisation technology

high quality. So, we have started

Europe, we see a lot of climate

and related innovation, establish-

to see more and more interest in

target goals. In Asia, it is starting

ing carbon credits and directing

Indonesian Steel mills.”

to be more and more prevalent.

reduction

Indonesia, for example, recent-

more capital into sustainable He further states, “India contin-

ly announced the carbon tax.

ues to be a very large exporter

Throughout Asia, the carbon tax

of steel. I don’t think we are di-

is much lower at around $2 and

rect competitors. I think the exit

$10, whereas in the EU it is around

Kelvin Fu, the managing partner

of China from middle south east

$60. The cost of the business in

at Gunung Capital explains that

Asia and other countries really

the EU is high. Banks today, are

it is imperative for them to meet

allow Indonesia to shine. as we

very particular about companies

the Paris goals and hence, while

exist in a middle eastern nation

meeting their SDG goals.

being part of Gunung Raja Paksi

which allows Indonesia to shine.”

enterprises. Promoting sustainable enterprises

Business Kimin Tanoto, CEO of Gunung

goals helped them tackle many

always viable to choose renew-

Capital further stressed on this

hurdles during the COVID-19

able forms of energy to attain

point, “Adaptation of ESG poli-

pandemic. He explains, “We exe-

energy efficiency. Kimin reveals

cies, particularly on carbon tax-

cuted our change management,

that the capex required to attain

ation policy, is important due to

restructured our contracts and

carbon neutrality, at least in the

the high cost of manufacturing

our team, and recruited a lot of

next 20 years, is three times of

and heavy carbon emitters. If de-

people. The whole structure man-

the equity.

veloping countries like Indonesia

agement, the crisis management

and India ignore carbon taxation,

measures taken helped in posing

As a word of advice, Kimin

we will not be able to export, as

for positive performance.”

shared, “Impact investment is the word to keep in mind and the

export is very essential. The EU will ask for an ESG stamp from

The Indonesian government has

opportunity is very wide. Invest

your company that includes min-

recently adopted a few initiatives

in renewable energy. Carbon,

ing, natural resources commodi-

on the ESG front. The Indonesian

both voluntary and compliant is a

ties and steel. If we don’t follow

government is going to impose

very big potential holder. Innova-

the EU game then the export

a carbon tax of $2, which inter-

tions are going to occur towards

market will be closed.”

estingly, was supposed to be set

achieving carbon-neutral goals.

at $5 initially. Kimin is currently

Innovations are still going on for

Paving the path for environment

raising awareness of the ESG

a carbon-neutral steel plant or a

conservation

benefits and shaping the poli-

chemical plant. It is highly rec-

cies along with the ministers of

ommended to invest in the tech-

Indonesia.

nology. The online platforms are

Gunung Capital has collaborat-

going to be big and we are going

ed with IPB university to support some of the research and to

Today, the coal power plant’s

to see a whole lot of opportuni-

promote environment conser-

asset valuations over the last

ties coming up to achieve carbon

vation conversations. Through

three years has lost 50%. Coal

neutrality more efficiently.”

this collaboration, Gunung Capi-

power plants have no buyers

tal intends to encourage the en-

and no banks are coming for-

tire university and subsequently,

ward to grant finance. Carbon

the companies of Indonesia, to

border adjustment tax is going

take a closer look at saving the

to be the non-trade barrier in the

environment.

near future, especially for trade

Excerpts of an interview with Ujal Nair. Article by Ramya S

with countries like Europe, ChiKimin tells us, “ESG is not a

na and the US. Failing to adopt

well-developed concept in the

ESG would not only attract high

business community but we

taxes but would also leave the

have many companies and even

company with stranded assets.

non-NGOs coming to us for sup-

Materials that cannot be mitigat-

port. If we identify with the cause

ed could opt-in for CCS (Carbon

then we do support them.” He

Capture and Storage). However,

explains that their approach to-

these are really expensive with

wards

today’s technology. Hence, it is

achieving

sustainable

Food & Beverage

2022 Market trends for the Food and Beverage industry 2021 can be presumed as a landmark era amidst

Sustainability-based

consumption

increasing

the virus emergence. Moving ahead for the F&B In-

demand: Sustainability is stated to be mainstream

dustry in 2022, a prediction of its state of services

in the present scenario. Performing sustainable

can be stated. The present scenario has been built

actions are increasing around the F&B industry with

on more conscious consumers. The need for more

industry giants such as Pepsico aiming to eliminate

transparency, hygiene, long-term sustainability is

all virgin plastics from their branded bottles sold

leading to major innovations in the food industry.

in nine European countries by 2022. Eco-friendly products are said to increase the consumption

The Food and Beverage industry in the present

of food and beverages. This sustainability factor

scenario has seen a growth phase without the con-

is building a bridge between economy, ecology,

ventional physical interaction with the consumers.

and social issues. Striving towards achieving a

Developmental criteria project the predictions of the

sustainability-driven economy, the majority of the

sector based on the consumerism patterns which

consumers are keen on consuming eco-friendly

are constantly varying Starting from the beginning

products.

era of covid, the segment has influential factors on varied scales, where the digital platform has per-

Direct-to consumers platform: Digitalization plat-

formed in a growth phase. Adopting innovative cul-

form shapes the consumption patterns today, as

ture, by giving tailored needs to the customers in the

major participation is seen in this phenomenon with

F&B industry, hypes the industry on a wider scope.

consumers acquiring their needs without walking in a store or restaurant. Kraft Heinz, one of the global

Trends to look ahead to in 2022 in the F&B industry

leaders in the F&B industry, has opened a digital hub

are:

to produce successful food ideas for enlarging the F&B segment. The hype of blockchain can be widely

Plant-based consumption and cell-based foods:

welcomed, as more companies move to blockchain

An average consumer in the present scenario focus-

trends and, the supply chain adheres to the latest

es on more plant-based food by choosing to avoid

tech platforms. From autonomous vehicles, drone

animal-based food consumption. Globally the plant-

deliveries, smart refrigerators, robotics, AI, walk-in-

based meat market is said to be worth around $85

stores, tech used to check gut, etc. F&B in itself has

million by 2030. Innovation of real meat from plants

infused technology that drives increased returns to

is an innovation that is being welcomed worldwide.

the platform. Food delivery and cloud kitchen busi-

Meat companies are turning towards meeting hy-

ness are paving the way for enhancing the food and

brid meat-veggie foods. Cell-based foods are wel-

beverage sector.

comed to suffice the sustainability act. Consumer education on cell-based food awareness addresses

Meal Kits: Consumption of meal kits amidst the

the food shortage crisis

pandemic has increased on larger phase. The population strives to consume more nutritious food,

Food & Beverage with less time to be spent in pre-

resulting

semi-automated

paring it. Meal kit promotes cat-

restaurants. The indulgence of

egories like Diet specialization,

huge ATM food markets is also

which provides niche diets, ad-

becoming popular among the ur-

hering to various lifestyle choic-

ban populace. The global Cook-

es. The new pre-made meal kits

ing Robot market is said to grow

are demanded on a wider scale,

accordingly in the forecast period

which requires minimum prepa-

of 2022-26, resulting in increased

ration or cleanup for the users.

demand from end-end users and

Both foodservice operators and

industries of both residential and

retail grocers are upholding the

commercial applications.

responsibility of delivering food to consumers. Driverless tech

Looking ahead, the F&B Indus-

providers like Motional and Uber

try consists of a population who

Eats have come up with a plan

are aware of their consumption

to provide meal kits from select-

needs and are much more influ-

ed restaurants. Motional, on one

enced through their personalized

hand, is delivering food using

choices. As the industry is sub-

the all-electric Hyundai IONIQ 5-

jected to various vulnerabilities,

based Robo Taxis. Innovations

AI plays a core role in all its func-

in this segment of food delivery

tioning criteria, leading to higher

help in creating greater demand

efficiency in production and con-

for consumers to hold onto a

sumption. The flexibility of the

healthy lifestyle in their busy work

F&B industry is kindled through

schedules.

tie-ups for leveraging expertise, ideas, and productional factors

Cooking Robots: The creation of

for improved performance.

cooking Robots has paved the future for technological control without physical laborers. Ro-

Article by Ramya. S

bots are involved in both cooking and delivery activities. As per reports, Moley is the first robot to cook cuisines using AI techniques. It is stated that TUG, a delivery robot for patient meals has reduced 80% of labor costs at Reading Health Plex Pennsylvania. The surging scenario of robots and automation techniques in the dining industry is a trend to be looked at in the way forward 69

Food & Beverage

With the Covid-19 pandemic ex-

have a growth of USD 201.77 bil-

posing the vulnerabilities of our

lion in 2020 to USD 221.37 billion

bodies, people have started tak-

in 2021 at a compound annual

ing hygiene very seriously. How-

growth rate (CAGR) of 9.7 per-

ever, the bigger concern has to

cent. The organic food market

be the growing number of chron-

is expected to reach $380.84 bil-

ic diseases such as cardiac is-

lion in 2025 at a CAGR of 14.5%.

sues, cancer, diabetes, and the

Another report revealed that the

rise in healthcare costs. This has

global organic food and bever-

led to the popularity of a healthy

ages market is expected to grow

diet, which includes organic food

from USD 255.2 billion in 2020 to

products.

USD 849.7 billion by 2028, grow-

As per reports, the global organ-

ing at a CAGR of 16.42%.

ic food market is anticipated to Region-wise, North America has held the largest market share of 39% in 2020. The Asia-Pacific market is anticipated to witness significant growth due to an increase in the disposable income of the consumers and large exports from developed regions such as North America and Europe.

Food & Beverage The only factors that are limiting

Tell us about your journey in the

tives and artificial flavours. Our

the growth of the organic food

online FMCG market.

Aromatherapy products help to build a calm state of mind and

market are the high packaging, logistics and distribution costs.

I started Signature Market along

the workshops that we conduct

This is because organic foods

with John Cheng in 2014 using

are helpful to attain spiritual bal-

do not have the same amount

the money we earned and saved

ance.

of preservatives as conventional

from our previous employment.

foods. Therefore, organic food

We started with roasted nuts and

tends to be more prone to bacte-

dry fruits. We took orders directly

For our 7th anniversary celebra-

rial infections, leading to a short-

from the customer over the on-

tion, we have chosen the theme

er shelf life.

line platform. The selection pro-

‘code of love’ as a gratitude to our

cess for the raw foods is carried

customers. We believe that love

The organic food market has dis-

out in-house; as is the packaging.

can heal everything and it is es-

tribution channels including con-

What started from a small facility

sential to be surrounded by your

ventional retailers, natural sales

has now expanded into a 40,000

loved ones. We have over 600

channels,

supermarkets/hyper-

sq.ft. facility in Malaysia. Today,

participants registered for the

markets, company-owned stores

we import the raw materials from

event.

and online stores. With increasing

Iran, Turkey, Saudi Arabia, the

competition, organic food manu-

Americas, China, Taiwan, Japan,

What is the key trend to look out

facturers are introducing ready-

and Thailand.

for in the organic FMCG market?

to-eat snacks, medicinal plants As consumer demands tend to

and herbs and organic juices. Signature Market is currently ex-

vary a lot, it is imperative for en-

In the APAC region, we came

panding beyond the food indus-

trepreneurs to invest in new in-

across Signature Market that is

try and ventured into cosmetics

novations. Today’s FMCG com-

said to be the first online mar-

and skin care as well. We are

panies need to understand the

ketplace in Malaysia for natural

venturing into plant-based beau-

consumer demands of tomorrow,

and organic products. Founded

ty products such as toner, serum,

and for that, they need to be more

in 2014, the company began with

and cleansers. We have recently

consumer-oriented. We need to

raw and natural snacks. Today,

introduced products for Aroma-

understand that the customers

the company delivers natural-

therapy and 100% essential oils.

are willing to pay a slight premi-

ly-derived

products

um for a better quality of food.

spanning

from raw materials to everyday

What is your idea of a healthy

essentials across Southeast Asia

lifestyle?

through its online platform. For us, a healthy lifestyle includes Wang,

three areas which are physical

co-founder and CEO of Signa-

health, mental health and spiri-

ture Market to learn about the

tual health. This is why Signature

latest trends in the online organic

Market promotes food products

FMCG market.

that do not have any preserva-

spoke

Edwin

Excerpts of a Zoom interaction with Ujal Nair. Transcription by Ramya S

Food & Beverage

Edwin Wang

Co-founder and CEO, Signature Market

Health Care

54% of Europeans Consider Their Current Physical Health to Be Good or Very Good, as Survey Reveals After two years of the Covid-19

support of GAD3.

their physical and mental health. Inaddition, one in three Europe-

pandemic, results from a European survey reveal that more

“This pandemic has triggered the

ans say that it has improved fam-

than half of Europeans rate their

biggest health, social and eco-

ily coexistence and feelings of

physical health as good or very

nomic crisis in almost a century

solidarity (34% and 33% respec-

good – with a quarter of respon-

and – from the perspective of

tively). Family co-existence was

dents reducing their alcohol and

having overcome the most crit-

reported as a particular benefit

drug consumption and one in five

ical months of it – in Merck we

by more Spaniards ad Czechs

saying they eat a healthier diet.

wanted to know its impact on the

than in any other European

Although 45% of Europeans rate

health and lifestyle of Europeans,”

country surveyed (42% and 45%

their mental health as good or

says Marieta Jiménez, Senior

respectively).

very good, 23% of the youngest

Vice President of Merck Health-

(18-29 years old) say they have

care in Europe. “We believe that

In contrast, the survey emphasiz-

needed psychological help during

only by getting closer and asking

es the weight of emotional prob-

the pandemic.

people what they feel, think and

lems arising from the pandemic.

need can we provide answers

The results show that 26% of all

These are just some of the major

to the different health challeng-

Europeans have developed a fear

findings from the “Merck Survey:

es. A healthy society is the basis

of physical contact with other

Europeans’ perception of health

for building a stronger, safer and

people and 23% of young people

two years after the start of

more prosperous society,” she

surveyed have needed psycho-

Covid 19”; a survey of 6,000 peo-

adds.

logical help. Stress and anxiety, followed by fear and uncertainty,

ple aged 18 to 65 from ten countries (Germany, Belgium, Spain,

The survey shows that Europe-

are the feelings that have affect-

France, Italy, Poland, Portugal,

ans (especially Italians, Spaniards

ed more than a third of Europe-

United Kingdom, Czech Republic

and Portuguese) consider that

ans (38% and 33%, respectively).

and Switzerland) that the science

the pandemic has helped them to

and technology company Mer-

talk openly in their personal and

When compared to the European

ck carried out with the technical

professional environment about

average, stress and anxiety have

Health Care

affected countries such as Spain,

to have children the most af-

Which diseases do Europeans

Poland and Portugal more, while

ter the pandemic (14% and 15%

fear the most?

fear and uncertainty have partic-

respectively). In addition, the “Merck Survey: Eu-

ularly affected Spain, Italy and Portugal. Germany, Spain, the

High

recognition

UK and Poland are the countries

professionals

for

health

ropeans’ perception of health two years after the start of Covid 19” also points out that 75% of Euro-

most affected by loneliness. The study also probes opinions

peans think that the health crisis

about the work of different health

has affected the normal course of

and science professionals during

cancer treatments. Cancer is the

The pandemic has also boost-

the pandemic. All countries rec-

most feared disease in the wake

ed the use of new health tech-

ognize the good work of health

of the pandemic, followed by neu-

nologies.

survey

personnel. In fact, 70% of Euro-

rodegenerative diseases, such as

concludes that seven out of ten

peans rate the work of health

Alzheimer’s or Parkinson’s, and

Europeans say they are com-

workers and researchers as good

cardiovascular diseases.

fortable or increasingly comfort-

or very good. Even so, it is worth

able with telemedicine. Although

noting that the performance of

“We are living unprecedented

most Europeans continue to

pharmacists during the pandem-

times and as a curious company

prefer face-to-face consultations

ic was the most highly rated in all

we need to prioritize more than

after the health crisis, people

countries (compared to doctors,

ever the value of science and pro-

from Portugal, France and Ita-

nurses, scientists and research-

fessionals working in the service

ly reported a current preference

ers) and they were the most

of health,” emphasizes François

for telemedicine vs. face-to-face

highly rated in countries such as

Feig, Senior Vice President Mid

consultations.

Spain and the Czech Republic.

Europe Healthcare at Merck.

New times, new habits

The

Merck

“This ambitious survey sheds The survey further reveals that al-

When asked about what should

light on the feelings of Europeans

most a quarter (24%) of Europe-

be improved in the health system,

about their health after two years

ans say they have reduced their

6 out of 10 European countries

of living with Covid and I believe

alcohol and drug consumption

surveyed agree on the need to in-

that this information will allow all

and one in five say they now eat a

vest more in preventive medicine

of us who put our efforts in the

healthier diet.

and public health, followed by

service of people’s health and

primary care and mental health.

well-being to better understand

Furthermore, only one in ten Eu-

Germans prefer researching new

their needs.”

ropeans have postponed their

medicines over all other areas,

plans to build or grow a family

while the British attach greater

after the pandemic. People from

importance to mental health and

the Czech Republic and Italy

the Poles call for greater primary

have postponed their intention

care along with the Spanish.

Health Care

Research

Carrier powered new COGfx study shows indoor air more polluted than outdoor air by 2-5 times A new study by a group of researchers from the Harvard T. H. Chan School of Public Health as part of the COGfx Study series has found that healthy buildings with enhanced ventilation can improve the cognitive function and health of occupants. The study series, conducted with support from industry leaders for HVAC systems like Carrier, has submitted three findings till now from three different study groups. The first study found that cognitive function test scores doubled when study participants were in simulated green building environments with enhanced ventilation as opposed to conventional building environments. The COGfx Study 2 examined real-world building environments in the U.S. and showed that employees in green-certified buildings showed 26 percent higher cognitive function test scores and 30 percent fewer sick building symptoms versus buildings that were not green-certified. The new study is aimed at showcasing the evidence of the acute impacts on cognitive function associated with poor air indoor air quality. It is expected to give a better incentive for improving air quality in indoor spaces. Speaking about the new findings,

Research

The COGfx Study continues to demonstrate that proper ventilation and filtration of indoor environments plays an important role in healthier buildings. At Carrier, we are focused on delivering innovative solutions and services that positively impact the health, productivity and cognitive performance of occupants of India’s buildings. - Chirag Baijal, Managing Director, Carrier India

Chirag Baijal further shared his insights about the new COGfx study series and the importance of a healthy building. The following are the responses given by him to our queries – What led to the beginning of the COGfx Study series? When and why did Carrier get associated with this activity? When we communicate our expertise in healthy

verified that healthy buildings are a critical public

buildings, we don’t just talk about solutions and

health solution.

services. Our strategies and technologies – and the resulting impact – are rooted in science. This is

COGfx Study 2: Buildingomics examined real-world

why we support key research around the impact of

building environments in the U.S. and showed that

healthy indoor environments and collaborate with

employees in green-certified buildings showed 26%

global experts and organizations.

higher cognitive function test scores and 30% fewer sick building symptoms versus buildings that were

Carrier supported the COGfx Study, comprised of

not green-certified.

three separate but related studies. Primary support for the COGfx was provided by Carrier, and they

COGfx Study 3: Global Buildings examined the im-

were conducted by research teams from Harvard

pact of indoor air quality on the cognitive function

T.H. Chan School of Public Health and SUNY Up-

of office workers across six countries – China, In-

state Medical University.

dia, Mexico, Thailand, the United Kingdom and the United States. The research found that cognitive

COGfx Study 1: Indoor Environmental Quality found

function declines as the levels of fine particulate

cognitive function test scores doubled when study

matter (PM2.5) and carbon dioxide (CO2) increase.

participants were in simulated green building envi-

Higher CO2 can be an indicator of poor ventilation

ronments with enhanced ventilation as opposed to

in buildings.

conventional building environments. The research

Research What kind of support are you expecting from authorities and government bodies to further emphasize the need for a healthy building? Are there any countries that have already taken the initiative in achieving this? In my opinion, the government should communicate about the importance of indoor air quality and its effect on occupants of the building. And on the fact that indoor air can be more polluted than outdoor air. Current conversations about air pollution are limited to outdoor air pollution. Also, this sees a spike during winters (as that is the time outdoor air pollution is more visible). Hence that only remains a focus of concern. We forget the fact that, according to the Environmental Protection Agency (EPA), indoor air is often 2-5 times more polluted than outdoor air. To ensure indoor air quality, enhanced ventilation and filtration solutions should be considered for any commercial building. Countries like Singapore and Australia have taken the lead in creating a regulatory ecosystem to ensure high standards of building construction from the safety and health aspects of the inhabitants. Requirements for safety, health, amenity and sustainability are provided in the design and construction of new buildings. What are the solutions provided by Carrier to improve the internal air quality across the cities of India? Some case studies would be great. Also, kindly tell us about the ‘Healthy Buildings Program’. According to the COGfx Study, as humans we spend

up to 4,400 sq. ft. Products come equipped with dif-

90% of our time indoors. The research found that

ferent filters like pre-filters, HEPA filters, and active

cognitive function declines as the levels of fine par-

carbon filters. Range of air purifiers is available with

ticulate matter (PM2.5) and carbon dioxide (CO2)

UVGI technology, which comes with a Photocatalyst

increase. Higher CO2 can be an indicator of poor

filter, and deactivates 99.9% of viruses and bacteria.

ventilation in buildings. OptiClean – We also introduced OptiCleanTM negaCarrier offers numerous products and services that

tive air machine and air scrubber in the Indian mar-

optimize indoor air quality, including a suite of ad-

ket. OptiClean is a portable negative air machine,

vanced solutions through Carrier’s Healthy Buildings

which cleans and removes air potentially contam-

Program that serves key verticals including, health-

inated by the coronavirus. It has the capability of

care, hospitality, education and retail. Here are a few

converting any hospital room into an Air Borne In-

solutions being offered by Carrier as a part of this

fectious Isolation Room to prevent the spread of

program:

contaminants. It can also serve as an air-scrubber,

Air Purifiers – Carrier air purifiers include products

returning cleaner air to the occupied space.

catering to areas from 180 sq. ft. going all the way

Research Light Commercial – We have also launched a PM

VRF.

2.5 filter and display kit which can be retrofitted to our Ducted products. It is a combined air purifica-

I am proud to share that one-of-the large retail out-

tion and air conditioning solution built into a single

let chains have trusted us for their IAQ requirements

product.

and chose us to install commercial air purifiers in their stores. It started as a pilot project in which we

UVGI technology in Air Handling Units (AHUs) –

installed Carrier air purifiers in a select few outlets.

UVGI technology helps improve indoor air quality

Due to the product performance and the improved

in AHU-fitted large application areas like airports,

indoor air quality in the pilot outlets, we are now in

shopping halls, cinema malls, etc. The technology

the process of providing air purification solutions to

is applicable for AHUs coupled with both chillers or

a large number of their outlets across India.

What is the cost of construction and cost of maintenance of ‘Green+’ buildings as compared to conventional buildings? How can the costs be brought down furthermore? While the cost of a Green+ building depends on a

run. According to the HEALTHfx Study, energy-effi-

lot of factors, I can comment from the HVAC stand-

cient buildings can deliver billions of dollars’ worth

point. On a total cost of ownership basis (with an

of public health benefits, including fewer hospital-

expected life of applied equipment to be around

izations and reduced climate impacts. In this study

15-20 years), the payback for greener & efficient

supported by Carrier, experts at Harvard University

HVAC solutions is between six months to two years

examined a subset of green-certified buildings over

depending upon the type of applications and opera-

a 16-year period in six countries: the U.S., Mainland

tional hours of the building.

China, India, Brazil, Germany and Turkey. It found nearly $6 billion in combined health and climate

Green buildings are smart investments in the long

benefits.

Please give us a brief about the positive and negative effects of Covid-19 on the HVAC equipment market. Covid-19 has changed dynamics globally, and the HVAC segment is no different. While business segments like healthcare and pharmaceutical have grown significantly, the manufacturing, commercial, and hospitality industries have seen a downward trend. Also, the pandemic has changed the way we work and operate. Because of remote working, there is a phenomenal increase in the data that we generate. It has led to a rise in data center requirements (and the need for cooling them). As many people move toward returning to offices, schools and commercial buildings, the health, safety and intelligence of indoor environments have come into greater focus. It has changed the expectations from the HVAC industry, from providing energy-efficient air conditioning solutions to providing cleaner indoor air solutions as well. 83

Research How are climate change reports and events affecting the sales of HVAC equipment across the globe? We would like to know the status reports that you have observed from APAC and the US. The HVAC industry has a critical role to play in the

We are also focused on driving better energy effi-

fight against climate change – from supporting the

ciency through better building systems. Research

clean energy transition to fostering the move toward

has found that installing building automation sys-

low GWP refrigerants. At Carrier, we are committed

tems could cut commercial building energy con-

to tackling this global challenge, and are focused on

sumption by nearly a third.

driving enhanced sustainability and energy-efficient solutions.

In India, climate change is driving the need for energy-efficient HVAC equipment to reduce the carbon

Over the last four decades, we’ve improved the effi-

footprint, coupled with the government’s push on

ciency of our large building air conditioning chillers

labelling programs in India for commercial equip-

by 15% per decade. For example, one of our chillers,

ment. Manufacturers are also encouraged to tran-

the AquaEdge 23XRV is the world’s leading efficien-

sition from HFCs and develop and introduce HFO-

cy screw chiller, 44% better than the industry stan-

based equipment.

dard. * What do you predict in the future of construction technology, considering the advancements in HVAC equipment and sustainable solutions? India is evolving towards the District Cooling concept.

an outsourced service, focus around performance

District cooling systems are set up to benefit from

contracting will increase significantly, leading

economies of scale – centralized plants instead of

to modified building and HVAC designs to have

individual cooling plants in each building. They are

efficient solutions at lower costs.

advantageous, as they are environmentally friendly, yield lower lifecycle costs, are reliable, decrease

These energy and cost-effective solutions will

building costs, and provide architectural flexibility.

change the way the construction industry is operating currently.

In addition, with the upcoming concept of cooling as What are the trends and major events we could look forward to in the global HVAC market for the next five years? The same for the Indian and the APAC market.

We can see the APAC region being a geography with

government policies encouraging local manufac-

significant economic growth encouraging more

turing through incentivization could see India scale

investments in the core sectors like healthcare, in-

up to become an export hub for HVAC equipment

dustrial, and construction, increasing the demand

besides catering to the growing and expanding do-

for reliable and sustainable HVAC solutions. Indian

mestic market. Article by Ujal Nair

Research

Software

World Business Outlook had recently reported that

enhancing security and global expansion.

hiblocks, the popular blockchain-based social media application had entered into an agreement with

Cloud4C shared some exclusive insights about this

Cloud4C, a leading cloud managed services provid-

new collaboration. The following are the excerpts of

er. As per the agreement, Cloud4C Korea’s Google

the email interaction-

Cloud Platform (GCP) Managed services will support hiblocks with the migration and will continue to

Please tell us about ‘hiblocks’ and what are the

deliver GCP Managed Services such as GCP securi-

services provided by Cloud4C for this social me-

ty guidance, implementation of autoscaling groups

dia platform?

and microservice consulting. hiblocks developed a KLAYTN blockchain-utilizing During the announcement of the signing, Peter Seo,

social media platform, with a presence in South Ko-

Country Manager of Cloud4C Korea, talked about

rea and Indonesia. It aims to decentralize the current

ways in which Cloud4C helped hiblocks leverage

monetization system of social networks. hiblocks

the power of the cloud in improving performance,

is famous for its blockchain-based decentralized

Software

social media application, ‘HABL’, which is ranked

on their own preferences. Users can also receive

as one of the top 10 on the Apple store and Google

rewards in the form of ‘HIBS Token’, which enables

Play store. The application constantly interacts with

revenue-sharing within and across social media

all the major social media platforms including You-

platforms. The primary requirement from hiblocks

Tube, Instagram, Facebook and TikTok and users

was to host HABL on a reliable platform that can

can curate the content from these platforms based

handle huge loads and scale-up resources instantly

Software

Peter Seo, Country Manager of Cloud4C Korea

when there are a large number

methods. Specifically, users’ in-

and requirements of hiblocks.

of active users.

formation is safely stored within

We also organized instances

data distributed storages using

into well-defined groups. This

Decentralized social media plat-

blockchain. Data such as activi-

made the lives of internal teams

forms are powered by distrib-

ties and rewards in the platform

much easier, especially to deploy

uted ledger technologies such

are also transparently recorded,

changes and to monitor usage.

as blockchain or Directed Acy-

making it impossible to forge or

We enabled auto-scaling and au-

clic Graph (DAG). Conventional

falsify data.

to-healing functions that ensured business continuity in the pro-

social platforms control users’ posts as well as what they see.

Nonetheless, such centralized so-

duction environment. Essentially,

Since revenue generation is their

cial media platforms could run a

we automated the rollout mech-

priority, they present users with

risk of attack in which a malicious

anism with managed instance

attention-grabbing

advertising

actor could theoretically control a

groups.

content, making them more en-

network’s power, allowing them

tertained

than

to edit data as they please, which

Based on the security assess-

However,

decentralized

social

would damage the integrity of the

ment, we also implement Google

media platforms provide more

system. Hence, hiblocks needed

Cloud Platform (GCP) security

freedom to their users, prevent

a strong security portfolio to pro-

solutions such as Google Cloud

the unauthorized sales of user

tect them from cyber-attacks.

Armor and Identity-Aware Proxy

well-informed.

(IAP). We created SSH Bastion

data, which is one of the contentious issues with centralized plat-

Therefore, Cloud4C critically an-

host to allow secure access to

forms. Blockchain technology

alyzed the client’s cloud gover-

the instances and SQL database.

also increases user privacy and

nance systems and implemented

data security using cryptography

best practices that fit the needs

Overall, as the trusted Managed

Software Services Provider (MSP) for hi-

Services such as Google Cloud

and higher productivity. It could

blocks, Cloud4C has successfully

Platform (GCP).

also support hiblocks’s overall cost optimization through micro-

launched Google Cloud Platform (GCP) Managed Services for hi-

The migration to cloud improves

service consulting for continu-

blocks and will support hiblocks

an enterprise’s flexibility, reduces

ous improvement and to resolve

in improving performance and

costs, helps them focus on their

cloud infrastructure autoscale

expanding globally for the next

core competencies, and most

configuration issues.

year. We will continue to help

importantly, fully transforms how

them leverage the power of the

they operate. However, for it to be

Most recently, we worked with

cloud in improving performance,

done right, it needs careful anal-

Carver Korea, which is South Ko-

enhancing security and global ex-

ysis, meticulous planning, and

rea’s top-ranked cosmetics pro-

pansion along with our consulta-

execution of a comprehensive or-

vider, famous for its ‘AHC’ brand

tive, data-driven ‘Cloud4C Cloud

ganizational and technical strat-

of skincare. Cloud4C success-

Migration Factory.’

egy that meets overall business

fully migrated Carver Korea’s en-

goals.

terprise resource planning (ERP) system to Microsoft Azure and

Tell us about some of the use cases of Cloud4C Migration

Having worked with 4000+ large

supported Carver Korea’s oper-

Factory.

enterprises across the world

ational and performance needs

and in Korea, Cloud4C devel-

through customized SAP man-

Cloud4C Migration Factory is our

oped Cloud4C Migration Factory

aged services. Through Cloud4C

professional automation solution

that offers an automated, pro-

Migration

for the complete cloud migration

cess-driven ticket-based trouble-

pressed a months-long migration

of in-scope virtual machines and

shooting system for streamlined

into just two days and ensured

Service Level Agreement-backed

support. In hiblocks’s case, it

that all systems were seamless-

cloud platform managed ser-

helped

improve-

ly connected post-migration. Due

vices. It includes hyperscaling

ment by 54 percent and reduc-

to Carver Korea’s business re-

and stabilization, right sizing

tion in total cost of ownership

quirement on rapidly increasing

and expert technical advice. It

(TCO) by 47 percent, resulting in

data consumption, upgrading the

helps with public cloud Managed

near-zero operational downtime

specification of the cloud archi-

performance

Factory,

com-

tecture was essential. Accordingly, it impacted the expected TCO to be increased substantially. However, Cloud4C succeeded in its team’s systemic operation on cost optimization and automated process via Cloud4C Migration Factory and DevOps. In March this year, we also secured a three-year agreement with CUBOX for which we delivered AWS Managed Services 89

Software based on Cloud4C Migration

proactive alerting in risk manage-

Cloud Migration Program. We

Factory. CUBOX is the leading

ment terms, maximum availabili-

have employed containerization

provider in biometrics that has

ty, and predictive and preventing

for core applications with Goo-

recently ranked in the global top

(self) healing.

gle Kubernetes Engine, promoted APM monitoring, and integrated

list of the Global Face Recognition Vendor Test (top 1st for Air-

Tells us about Cloud4C’s capa-

CI/CD pipelines across dev envi-

port Immigration Control Photo

bility in Google Cloud Platform

ronments enabling a single-click

Face Recognition Field) by NIST

(GCP) Managed services and

deployment across multiple re-

(National Institute of Standard

some of the solutions delivered

gions as well.

and Technology). In order ot ad-

from the CoE with SAP and An-

dress their needs in critical proj-

thos Technologies

In February this year, Cloud4C collaborated with Google Cloud

ects across the world, we have supported them to focus on their

We have partnered with clients

to build a Centre of Excellence

core capabilities, involving ad hoc

in diverse industries from finan-

(CoE) for SAP and Anthos by

based heavy robust consumption

cial service providers, real estate,

Google Cloud. The partnership

on GPU, Big Data/Query as well

travel platforms, among many

was to help enable enterprises to

as their global expansion.

others, to provide tailor-made

accelerate their digital transformation journey on the cloud.

Some of other global use cases can be found here: Panasonic,

The

CoE

equips

businesses

AbhiBus, Qatar Government Nod-

with the capabilities to mod-

al Agency and TimeOut.

ernise mission-critical IT infrastructure and applications while

In addition to the Cloud4C Mi-

gaining the complete benefit of

gration Factory, we have another

Cloud4C’s extended SAP service

automated solution to maximize

portfolio. Cloud4C runs stringent

our capability in automation-driv-

assessments to pinpoint the core

application-focused

impediments and enable benefits

managed services which help

such as highly agile processes,

enterprises meet heterogeneous

instant cost savings, zero opera-

and complex technology environ-

tional disruption and uninterrupt-

ments through a robust service

ed business continuity.

and

delivery model built on ITIL, ITSM, frameworks

Enterprises that leverage Anthos

coupled with our best practic-

can also modernize their existing

es we gathered handling over

applications and build cloud-na-

thousands of IT Modernization

tive apps to achieve agility and

COBIT

process

projects. It is an award-winning

cloud infrastructure empowering

cost savings with Google Cloud.

AI-powered Self-Healing Opera-

clients with advanced tools and

With Cloud4C, enterprises can

tions Platform (SHOP) that en-

services such as Google Cloud

leverage Google Anthos to get

sures continuous monitoring of

Compute, Google Cloud Storage,

a unified model for computing,

data platforms and applications,

Google Cloud CDN, and Google

networking, and even service

Software management across systems, vendors and allows

on the other hand, can get the chance to advertise

enterprises to monitor multiple environments from

their brands. hiblocks is further developing the aug-

a single place.

mented reality (AR) technology on this service.

The CoE supports customers in their modernization journey, as they level up their mission-critical IT infrastructure and applications and leverage advanced Google Cloud Artificial Intelligence (AI), Machine Learning (ML) and analytics capabilities at scale. The partnership will help organizations make the most of Cloud4C’s end-to-end SAP capabilities through multi-cloud support, multi-cluster/unified management, centralized policy management, infrastructure management and achieve a higher return on investment, enhanced platform, operational efficiency, rapid scalability, and optimize cost. The CoE also serves as a multi-disciplinary customer showcase hub, developing and delivering solutions for high efficiency and reliability, and allowing our customers to leverage the best of Google’s offerings in a secure manner with reduced capital investment and improved value delivery. Most importantly, the rapid deployment of SAP applications through Anthos by Google will also contribute to lowering carbon footprint. What are the actions in the process to implement ‘Challenge Run’ and ‘NFT Market Place’ by hiblocks?

hiblocks is also developing the NFT marketplace in which users can trade NFT contents in various

hiblocks will be initiating new projects in the first

forms such as live auctions and virtual reality (VR).

half of 2022 which includes ‘Challenge Run’ and

Through this technology, users will be able to visit

‘NFT (Non-Fungible Token) Market Place.’

NFT marketplaces in virtual reality so that they can purchase and manage NFT contents just as they

Challenge Run, which is being developed by HABL,

see them in person.

is a location-based app-tech service that exposes challenges to participate offline through the in-app map GPS service. It allows the creation of online and offline advertisements based on users’ GPS. In return, users can receive ‘HIBS Token’ by participating in the ‘Challenges’ in the application. Corporates,

As per an email interaction with Ujal Nair 91

Software

The main stage in any product development pro-

could extend from a few months to a few years and

cess is the prototyping stage where several proto-

a few thousand dollars to a few billions. At some

types are developed for a product before releasing it

points, when these prototypes are put through sev-

in the market. It is during this prototyping stage that

eral tests, it could require the skills and the compe-

the company realises the efficiency and the efficacy

tencies of each and every member of the research

of the product. In the quest for developing the best

department, all at once. This not only increases the

in the market, the company invests a lot of time and

time to market but also the overall production cost

resources during the prototyping stage itself. This

and thus hikes the final price of the product.

Software

Software Simulation software tools leverage the principles of mathematics and physics and enable the company to design, validate and optimize a product or a solution through a single operator and a computer. This has drastically reduced the production expenses and training costs. SImulation tools are predicted to grow in their abilities with the entry of advanced technologies such as digital twins, AR/VR and 3D printing. This is cited as one of the reasons why the global simulation software market size is expected to grow from USD 12.7 billion in 2020 to USD 26.9 billion by 2026. The report from MarketsandMarkets.com further observes that many of the pioneers in the Simulation software industry have adopted organic as well as inorganic growth strategies to expand their presence in the global market. In order to get a better insight about this growing sector, we talked to Rafiq Somani (pictured below), Area Vice President – India and South Asia Pacific at ANSYS. ANSYS is a US-based company that develops and markets CAE/ multiphysics engineering simulation software for product design, testing and operation and offers its products and services to customers worldwide. Analyzing the virtual testing tool Speaking on the trends that he is observing in the simulation software market, Rafiq explains, “When we look at a hi-tech methodology program that is still traditional in its approach, we see around 6-7 years in product development. Using great simulation platforms, tools and engineers, we have reduced that entire process to a 3 year program. The fidelity and the virtuosity of our computer models have helped us to execute world-class products. We are learning so much more from a computer prototype than a physical prototype. Our large dedicated simulation development team reap the full reward of a really deep computer analysis.“ Ansys categorizes its customers into three segments – enterprise or the global customers, strategic or mid-market accounts, and finally, the SMBs (small and medium-sized businesses). Ansys has appropriate programs to cater to all these three 94

markets. Rafiq clarifies that Ansys has a global strategy for all the above-mentioned three markets and a similar strategy specific for the APAC markets. Digital tools spread like the pandemic The pandemic has led to a huge spurt in the whole digital transformation process across sectors. Many of the talents in the manufacturing and simulation sector are still operating from their homes. Simulation solutions are basically very computer-graphic heavy and most of the high-powered computers are set up in the offices. In spite of it, thanks to cloud technology and high-speed internet, designers and engineers are still able to deliver their services. Rafiq explains that at Ansys, because of their partnership with Microsoft and few other cloud technology partners, the simulation engineers were quick to adopt and use their home desktops or laptops for some of the graphic heavy software applications.

Software Rafiq tells us that its training modules and contents, and the customizations in the license agreements for the customers have played a vital role in averting the ill-effects of the pandemic. With a rising demand for digital equipment, the pandemic has boosted the sales of the semiconductor industry, leading to faster developments of new products for meeting the rising demands. Similarly, there has been a rising demand in the drug manufacturing and medical equipment sector. Startups have been shooting up across the globe with their lean operational abilities and agile adoption approach. Rafiq revealed to us, “Ansys’s Fluid platform is used extensively to take a drug developed in the lab to a mass-scale production process. Due to the In-silico trial methods, instances of animal or human trials have reduced considerably. With in-silico and digital twin technologies we are confident that there will be times when the drugs will be custom made for every single person. These technologies have already showcased their success rate in the dental surgery or the hip replacement or prosthetic segment.” Simulating a technologically-independent nation Countries that set aside large amounts of their budget for research and development are the ones where the adoption of the simulation platform is high. Countries that have heavily invested in research and develop-

ment are showing a higher number of innovations per year, whereas service-oriented countries like India are slowly pacing up to the leaders in the world. Rafiq is confident that the Indian PM’s ‘Atmanirbhar’ initiative will drive up the product development rate in the country. He is also assertive about the growth of the Startup culture across the globe. He feels very optimistic about the new-gen technology-advocating leaders who are proactive about investing in R&D.

Software Addressing the security concerns among the de-

and the right mindset towards cloud technology and

fense sectors, Rafiq points out that there could al-

the simulation platform, startups across the globe

ways be indigenously-built closed cloud clusters

would be able to achieve their goals faster and bet-

which would not be vulnerable to the hackers. Big-

ter. He explains, “Unlike in the aviation or the phar-

ger and powerful high computing machines would

maceutical sectors, the investors are not ready to

prove to be a boon for the defense and the research

approve of a project that has proven its might over

departments of several nations.

a simulation platform. The VCs need to be more tolerant and acceptable about the digital validated pro-

The entrepreneurs need to be supported and en-

totypes.” He also cites the example of the ventilator

couraged more to further boost the economy of the

project that was initiated by an academic institute

country. Rafiq revealed that Ansys has come up with

and startup incubation centre in 2020 in India. The

what is called the Startup bundle. It includes many

first operational ventilator was rolled out in less than

modules and packages for the initial product devel-

90 days.

opment. Rafiq believes that with the right approach Charting the path of growth Simulation is largely used by simulation engineers but in the coming future, even the design engineers doing front end design analysis will use simulation a lot. Ansys has been acquiring a lot of talents and innovative

companies for organic growth. Rafiq reveals to us,

These adjacencies will grow around our design ex-

“Ansys is always on the lookout for the best tech-

ploration competencies.”

nology available or can be developed in the market. Ansys is concentrating on its core technology, which

Along with additive manufacturing, Ansys is also in-

would continue to grow at a CAGR rate of 8 percent.

vesting its focus on ‘Digital Twins’. SImilar to Digital

Ansys has further extended its efforts towards

Twins of humans, Rafiq predicts a spike in the de-

some of the emerging high growth markets such

velopment of ‘Digital Twins’ of expensive, industrial

as electrification, autonomy, 5G and industrial IOT,

machinery that cannot afford to see a downtime,

including AI/ML. We have acquired and developed

like the aircraft engines. Digital Twin helps to contin-

a lot of technologies in these fields. We believe that

uously monitor the physical product and predict any

this will grow by 18-20 percent in the next 4-5 years.

anomalies before it even occurs.

Software Sustainability and environmental impact will play

Reportedly, Ansys has partnered and sponsored

a very important role. Companies are working very

student activities like the one at Baja SAE and an-

closely to make their products and services environ-

other one for the agricultural projects. It is because

mentally sustainable.

of these activities that academics are encouraging their students towards self development and inno-

Innovating ‘Make in India’ success

vation. It has also helped to change the thought process, attitude and the approach of a lot of the auton-

Sharing his views on Indian Prime Minister Narendra

omous and good engineering colleges. Students are

Modi’s views on ‘Atmanirbhar Bharat’ Rafiq shares

being encouraged to explore innovative new ideas

that India has the IITs and a few other institutes that

and set up a business model of their own.

are well ahead on the technology curve but there are some tier-2 and 3 city-based institutes that are

Rafiq, a 1985-89 batch Computer Science student

yet to adopt some of the top emerging technologies

from Mumbai, India, beams out, “I am very excit-

into their curriculum. The academics and its stu-

ed and proud of the new generation. Their thought

dents need to be prepared to handle the needs of

process is completely different and they are much

the emerging innovations. More than the industry,

more educated in terms of knowledge of what is

if academia steps up its R&D activities then it ben-

happening in the industry. The Internet has made

efits the industry and the country at large. The IITs

them aware of global competencies. They are very

in India are promoting research among the students

ambitious and very passionate.”

from a very early stage of their curriculum. Excerpts of an interview by Ujal Nair

Technology

Mainstream adoption of artificial intelligence and

climate crisis. Vertiv experts see long-held conver-

increased equipment integration are also likely, ac-

sations around efficiency and utilization in the data

cording to Vertiv experts.

center evolving to reflect a more comprehensive and aggressive focus on sustainability. This move-

Vertiv, a global provider of critical digital infrastruc-

ment recognizes the urgency of the climate crisis,

ture and continuity solutions, today released its

the relationship between resource availability and

annual list of the key data center trends to watch

rising costs, and shifting political winds around the

in 2022, headlined by a dramatic acceleration in

world.

actions to address sustainability and navigate the

“As we move into 2022, data center operators and suppliers will actively pursue strategies that can make a real difference in addressing the climate crisis,” said Vertiv CEO Rob Johnson. “For our part, we continue to focus on energy efficiency across our portfolio, as well as alternative and renewable energy technologies and zero-carbon energy sources, to prioritize water-free cooling technologies, and to partner with research leaders and our customers to focus on impactful sustainability efforts.”

Technology The actions data center deci-

low-GWP refrigerants.

• Artificial Intelligence Gets

sion-makers take on these fronts

Real:

will have a profound impact on

extreme

As today’s networks get more

the digital economy in 2022 and

weather events related to climate

complex and more distributed

beyond. The urgency of these

change will influence decisions

and the augmented and virtual

challenges is reflected in the

around where and how to build

reality demands of the metaverse

2022 trends identified by Vertiv’s

new data centers and telecom-

become more prominent, the

munications networks. Other fac-

need for real-time computing

tors, including the reliability and

and decision-making becomes

affordability of the grid, regional

more critical. This real-time need

temperatures, availability of wa-

is sensitive to latencies, and un-

ter and renewable and locally

der the increasingly common hy-

generated sustainable energy,

brid model of enterprise, public

and regulations that ration utility

and private clouds, colocation,

power and limit the amount of

and edge, full-time manual man-

power afforded to data centers,

agement is impractical, if not

play a part in the decision-making

impossible. Artificial Intelligence

as well.

(AI) and machine learning will be

experts. Those trends are • Data Centres Tackle Sus tainability and the Climate Crisis: The data centre industry has taken steps toward more climate-friendly practices in recent years, but operators will join the climate effort more purposefully in 2022. On the operational front, Vertiv experts predict some organizations will embrace sustainable energy strategies that utilize a digital solution that matches energy use with 100% renewable energy and ultimately operates on 24/7 sustainable energy. Such hybrid distributed energy systems can provide both AC and DC power, which adds options to improve efficiencies and eventually allows data centres to operate carbon-free. Fuel cells, renewable assets, and long-duration energy storage systems, including battery energy storage systems

immediately,

critical to optimizing the perforThese extreme weather events

mance of these networks.

will drive more robust infrastructure systems across the Informa-

It will take focus and time to col-

tion and Communications Tech-

lect the right data, build the right

nology (ICT[KT1] ) space which

models, and train the network

will need to be carefully aligned

platform to make the right deci-

with sustainability goals. In 2022,

sions. However, the programming

data center and telecom opera-

tools have become simplified

tors will wrestle with these issues

enough that data scientists are

– and ever-present latency ques-

able to point computing resourc-

tions – and will drive a need for

es at a problem without having

solutions that can address all of

to be experts in programming or

these challenges.

hardware. The availability of AI hardware from established ven-

Important note on lithium-ion

dors, cloud options for the same,

batteries: Vertiv experts expect

a simplified toolchain, and an ed-

the lithium battery recycling infra-

ucational focus on data science

outcomes. Thermal systems that

structure to expand in 2022 and

has put AI in play for even smaller

use zero water are in demand,

eliminate one of the few remain-

companies. It all adds up to ac-

and we will see refrigerants with

ing barriers to widespread adop-

celerated AI adoption in 2022.

high global warming potential

tion of lithium-ion batteries in the

As with every technological ad-

(GWP) phased down in favour of

data centre.

vance, there are ripple effects.

(BESS) and lithium-ion batteries, all will play a vital role in providing sustainable, resilient, and reliable

100

Technology The increase in AI will unavoidably increase computing and heat densities and, by extension, accelerate the adoption of liquid cooling. Among other challenges: lowering the barrier to entry places a premium on choosing the right vendors, platforms, and systems to trust. • The

Post-Pandemic

Data

Center Takes Shape: Some 2.9 gigawatts worth of new data center construction is underway globally – up from 1.6 gigawatts in 2020 (Cushman & Wakefield). Those data centers will be the first built specifically to meet the needs of a postCOVID world. More activity will be focused at the edge, where VMware projects a dramatic shift in workload distribution – from 5% currently to 30% over the next five years. Availability will remain the top priority, even at the edge, but lower latency is a rising need to support healthy buildings, smart cities, distributed energy resources, and 5G. 2022 will see increased investment in the edge to support this new normal (remote work, increased reliance on ecommerce and telehealth, video streaming) and the continuing rollout of 5G. • Drive Toward Integration: Various data center equipment providers have been embracing integrated systems that allow for modular capacity additions

for years, with integrated racks and rows among today’s most popular data center offerings. In 2022, we’ll see the next step in integration as data centers work with providers to better integrate larger systems – all components of the power infrastructure, for example – and deliver seamless interoperability. The benefits of integration as a concept are well known – reduced construction and deployment costs, flexible capacity management – and applying the same approach across larger systems delivers speed. Rack-based power solutions are early accelerators of integration momentum. “Across the region, increased digitization and 5G adoption have proved to be impactful to the data centre industry. We are working with our customers, government agencies and industry bodies to develop, deploy and operate more sustainable, efficient, and intelligent solutions from the cloud to the edge. Each of the trends identified are playing out in Asia as well and as we move towards 2022 and beyond, Vertiv remains committed to driving industry leading innovation for a sustainable future” said Anand Sanghi, president, ASI (Australia and New Zealand, Southeast Asia, India, South Korea and Japan), for Vertiv. 101

Technology

ABB to deliver robots

for Scania automated battery assembly plant

102

Technology ABB has entered into an agree-

with increased flexibility. That is

significantly shorten lead times

ment with leading global trans-

where the robots and solutions

and support the quality process.

port solutions provider, Scania, to

from ABB fit in. For Scania, the

provide a comprehensive range

factory is also an investment that

Scania and ABB have worked in

of robotic solutions for Scania’s

will further strengthen Sweden’s

partnership for more than four

new highly automated battery as-

position as a hub for cutting-edge

decades and are collaborating

sembly plant in Sweden. The new

technology in the electrification

on building production infrastruc-

facility will be a key milestone

of heavy vehicles, which is crucial

ture for electric vehicles. Recent-

on Scania’s journey towards the

in the transition to sustainable

ly, they joined forces to create

electrification of heavy vehicles.

transport.”

charging solutions for heavy goods vehicles that will also be

Scania will invest more than SEK 1 billion ($108 million) in the facil-

The advanced 18,000 sq.m. fa-

ity over several years and the new

cility will be built next to Scania’s

tured by Northvolt. The Northvolt

Södertälje plant is expected to be

chassis assembly plant in Söder-

facility – Europe’s largest lithi-

fully operational by 2023.

tälje, Sweden, and will be highly

um-ion battery factory – has also

automated, from goods reception

been developed in partnership

“We are delighted to work with

through production to delivery. It

with ABB.

one of our longest-standing cli-

will assemble battery modules

ents to help deliver their electri-

from cells supplied by Northvolt’s

ABB is assisting automotive com-

fication roadmap,” says Joerg

battery factory in Skelleftea, with

panies and key component and

Reger, Managing Director of ABB

the completed packs delivered

technology suppliers globally with

Robotics’ automotive business

directly to the vehicle assembly

fast, efficient, and flexible manu-

line. “The automotive industry

hall. Multiple ABB robots will be

facturing solutions to support the

has always been at the forefront

involved in the assembly process,

roll-out of a new generation of

of automation. But with the shift

including the IRB 390, IRB 4600

electrified powertrains. The com-

to electrification, it faces whole-

and IRB 6700 models, along with

pany recently announced a major

sale changes to established man-

additional solutions to support

joint venture with China’s leading

ufacturing processes. With our

the production process.

automotive parts supplier, HAS-

expertise, we will design and help

CO, to help steer the next genera-

implement the manufacturing

This will mark the first time ABB’s

tion of smart manufacturing with

flexibility that is vital for market

IRB 390 robot will be used in a

highly efficient, environmentally

leaders such as Scania in deliver-

battery production facility. Origi-

sustainable

ing this change.”

nally designed for the packing in-

tions. Later this year, it will also

dustry, the robot combines speed

open the world’s most advanced

Tony Persson, Head of Scania’s

with power and can mount con-

robotics factory in Shanghai, ac-

battery

“The

tact plates in batteries at a rate

celerating innovations in prod-

factory is designed in line with

of one plate every second, twen-

uct development, artificial intelli-

Scania’s efforts to be at the fore-

ty-four hours a day. ABB’s Robot-

gence, and automation solutions.

front of industrial digitalization,

Studio simulation and program-

automation, and the use of ad-

ming software will enable full

vanced robotic technology to

verification of the production line

streamline production processes

prior to deployment which will

assembly,

said:

automation

solu-

103

Technology

Tetrate releases TSB, the cloud-agnostic unified application connectivity platform

Tetrate, founded by creators and maintainers of

“As enterprises scale their cloud-native application

Istio and Envoy, has announced the general avail-

environments, robust application connectivity and

ability of Tetrate Service Bridge (TSB), ‘Golden Gate’

networking become both critically valuable and

release. This latest release combines API Gate-

increasingly complex,” said Brad Casemore, vice

way, a web application firewall (WAF), and service

president for Research, Datacenter, and Multicloud

mesh capabilities into a single management plane,

Networking at IDC. “Somewhat paradoxically, ap-

delivering what is claimed to be the industry’s first

plication networking is most valuable when it is

cloud-agnostic unified application connectivity plat-

unseen—simple to provision and operate, and un-

form. By unifying these capabilities, TSB brings cen-

obtrusive, yet elastically scalable and secure across

tralized governance and decentralized enforcement

highly distributed environments, not getting in the

to application networking—essential for implement-

way of developers and their applications. With the

ing zero-trust security across legacy and modern

latest release of Tetrate Service Bridge, Tetrate is

workloads.

responding to this need, bringing increased simplicity to centralized control over edge-to-workload

As per reports, TSB’s Envoy-based application net-

connectivity spanning multiple clusters, clouds, and

working layer dissolves the distinction between

compute resources.”

north-south and east-west traffic: it’s all just application traffic. Developers can now apply capabili-

Gaining access and knowing how to configure ap-

ties traditionally available only in an API gateway to

plication-specific network and security policies can

any part of their application topology from edge to

be challenging for developers and ultimately im-

workload. The TSB ‘Golden Gate’ release includes

pacts productivity. At the same time, networking

API Gateway and a comprehensive set of API gover-

and security teams lack the means to enforce poli-

nance capabilities out-of-the-box.

cy mandates and ensure their implementation. This

104

Technology

disconnect between access and

which the Golden Gate release of

increasingly becoming distribut-

knowledge leads to non-compli-

Tetrate Service Bridge helps us to

ed in nature,” said Varun Talwar,

ant networking and inconsistent

achieve security at the applica-

CEO and co-founder of Tetrate.

policy enforcement, which then

tion level, not just at the network

“When combined with the need

leads to security breaches. With

level.”

for multicloud infrastructures, application networking, and security

the ‘Golden Gate’ release, TSB enables developers to configure

TSB is also now available as a ful-

policies, management becomes

policies for their applications

ly-managed, Tetrate-hosted ser-

a complex problem. TSB elegant-

without needing to learn the com-

vice, in addition to self-managed

ly simplifies this challenge with

plexities of new technologies like

deployment. The TSB managed

its management plane, a layer

Envoy and Istio, while still being

service greatly reduces the initial

that binds the runtime system

able to harness their power.

investment required to begin us-

to the users and teams. Enter-

ing zero trust architectures, en-

prises can implement controls

“As a leading education technol-

courages experimentation, and

for regulatory requirements with

ogy provider, our flagship prod-

further reduces complexity for

confidence and maintain many

uct, ABCmouse Early Learning

customers. The managed service

unrelated teams on the same in-

Academy, is the leading digital

can be used for pilot projects,

frastructure without shared-fate

education program for young

smaller projects, or for all proj-

outages.”

children in the U.S.” said Jeremy

ects, depending on the needs of

Farber, senior vice president of

each customer.

infrastructure at Age of Learning. “We appreciate the way in

“Application

architectures

are

105