Intelligent SME issue 37 (April 2016) by SPI Publishing

ISSUE: 37 |April 2017 facebook.com/theintelligentsme @intelligentsme

Give your brand an unfair advantage

SME FINANCE: From Chaos to Clarity

3 Ways to Use MARKETING AUTOMATION in the Middle East

SMES & BANKS: Building an Economy of Trust

Benefits of AUTOMATED HR SOLUTIONS

Logistically Speaking:

GROWTH AND FUTURE IN THE UAE Henry Fares, VP-Human Resources, DHL Express, MENA Strategic Alliance Partner

Sole Automotive Partner

Logistics Partner

Knowledge Partner

Global Innovation Summit 2017 The Future is Now!

Creative Innovator Awards 2017

27th September 2017 Jumeirah Beach Hotel, Dubai

Submit your entry!

Award Categories Best Innovation in Sustainability

Best Innovation in Healthcare

Best Innovation in Education

Best Innovation for Public Good

Best Innovation for Business Growth

To send in your entries, visit www.innovationsummit.ae Eligibility Criteria • Only UAE-based enterprises are eligible for participation • You can participate as a start-up or as an established company (min. 3 years old) • Each enterprise is eligible to submit only a single entry • Entries should be submitted only through this page at innovationsummit.ae • The closing date for entries is 10th September, 2017 • The decision of the jury will be final

Jury Review On 18th September 2017, all entries will be presented to the panel of judges for evaluation. The judging panel will review the entries and propose the winners who will be recognized at the awards ceremony during Global Innovations Summit 2017.

Creative Innovator Awards is part of Global Innovation Summit 2017 27th September 2017 - Jumeirah Beach Hotel, Dubai

Ajay Bindroo, CEO & Managing Partner, Clasico Brands Within a span of 18 months, Ajay has established a global venture that caters to consumer goods ranging from beauty and personal care, grooming products to oral care, bath and hygiene, hair care and homecare products. Under the flagship of “CLÁSICO BRANDS”, over a dozen brands have been created and are in the process of being launched worldwide. Ajay is a true visionary and makes sure that the company's concept and strategies are right on track.

Akram Miknas, Chairman & Founder, PROMOSEVEN HOLDINGS B.S.C.C. (P7H) Akram Miknas is known to be one of the pillars of modern marketing communications in the Middle East. His involvement in real estate development, especially after the successful completion of the Pearl Towers (Abraj Al Lulu), anchored him as a leading accomplished developer in the Gulf. In early 2000, he branched into the hospitality business and successfully managed and built several hotels and outlets in Bahrain. His success in this business was crowned by becoming the franchisee of McDonald’s in Lebanon; where he built the business from seven to 26 restaurants in just five years.

Alexandar Williams, Director, Business Development, Department of Economic Development (DED) Alexandar Mathew Williams is presently the Director, Business Development, Department of Economic Development (DED), Government of Dubai. He has more than 20 years of experience in SME development and business creation. He is interested in the life cycle dynamics of firm growth and mentoring entrepreneurs. In his current job, Alexander is responsible for developing new initiatives for DED to take it to the next level as a knowledge-driven economic development agency.

Deepak J Babani, CEO, Eros Group Deepak J Babani has been with Eros Group for over 30 years. Mr. Babani has spearheaded the growth of Eros Group from a turnover of Dhs six million in 1981 to over Dhs four Billion in 2010. Under his leadership, Eros Group has established itself as the leading distributor for Consumer Electronics, Home Appliances, Telecom, IT and Air-conditioning products in the UAE, GCC and East African regions. Mr. Babani joined Eros as Marketing Manager and was promoted to General Manager in 1988 and subsequently to CEO in 2002. and subsequently to CEO in 2002.

Intelligent SME

April 2017

K. Rajaram, CEO, Al Nabooda Automobiles K. Rajaram has more than three decades of experience in the automotive industry, starting his career in Oman in 1983. He moved to the UAE in 1996 to lead Al Nabooda Automobiles, the exclusive dealer of Audi, Porsche and Volkswagen in Dubai and the Northern Emirates. Under his leadership, Al Nabooda Automobiles has changed the face of the UAE automotive market by setting the highest benchmarks in customer service and pioneering the automobile ownership experience.

Mishal Kanoo, Deputy Chairman, The Kanoo Group Mishal Kanoo serves as the Deputy Chairman of The Kanoo Group, one of the largest, independent and longest running family-owned group of companies in the Gulf region. He is also one of the most iconic business figures in the Middle East, featured on various magazines and listed in the ‘Top 100 Powerful Arabs 2013’, and ‘The 15 Wealthiest Arab Businessmen in the World 2012’, among others. Subsequently, he worked at Arthur Andersen in Dubai as an auditor before taking up his current position in 1997. Mishal Kanoo adheres to family values and ideals in pursuit for quality and excellence which has greatly influenced his corporate policies and goals for ‘The Kanoo Group’ as a reputable company.

Rizwan Sajan, Founder & Chairman, Danube Group The Danube Group was founded and established by Mr. Rizwan Sajan in 1993. Over the last 22 years, the group has come a long way since its humble beginnings of a small trading shop in Deira to being the region’s leader in construction, building materials, home interiors and shop fitting industries. The head office & logistics facilities are present at the Jebel Ali Free Zone (JAFZA). Danube has coursed a path that transformed only one shop with three employees to over 40 locations in nine countries worldwide including UAE, Oman, Bahrain, Saudi Arabia, Qatar, Africa and India, in addition to procurement offices in China with employee strength of over 2,200 people. Being a top ranking business icon, Mr. Rizwan Sajan has been a source of inspiration for driving Danube’s business by leaps and bounds. source of inspiration for driving Danube’s business by leaps and bounds.

Reg Athwal, Founding Partner & MD, RTS Global Partners Reg Athwal is the Chairman of RAW Group and the Founding Partner & MD of RTS Global Partners, the leading family business advisory firm in Africa, Middle East and Asia. The company has been supporting hundreds of clients in over 150 disciplines spread across 57 countries with offices in Dubai, UAE and Nairobi, Kenya. Reg’s vision is to grow into a major company of 1000 members in 22 countries by the year 2022 with the primary aim of transforming 22,000+ family businesses and impacting millions on the way.

EDITORIAL THINK TANK & ADVISORS

HUMAN RESOURCES Pay for the talent you want

FAMILY BUSINESS Pay for the talent you want

14 24 6

Intelligent SME

INTERVIEW

Logistically Speaking: Growth & Future in the UAE SME MARKETING 3 Ways to Use Marketing Automation in the Middle East April 2017

HUMAN RESOURCES Benefits of Automated HR Solutions

SME SUSTENANCE Quality Governance: Key to Sustainability

SPI Group www.spigroup.ae www.theintelligentsme.com www.robustrak.com www.innovationandtech.ae www.innovationsummit.ae www.dubai-gbs.com www.smeworld.ae www.makeinuae.ae

Publisher & CEO: Shantanu A.P. Consulting Editor : Auritri Chatterjee Assistant Editor : Jinal Chheda

COVER STORY

SME Finance: From Chaos to Clarity

SME TRENDS SME trends in 2017

RARE & FABULOUS

SME FINANCE

SMEs and Banks : The Need to Build an Economy of Trust

Expert Contributors: George Deeb Janne Kilpelainen Reg Athwal Simon Hodges Steve Currie Tarek Bayaa Tanseen Lakdawalla

Designer : Retheesh Viswanath Distribution Department : Jerry P. Sam

Disclaimer

SPI Publishing has endeavoured to bring out a publication that is reliable and informative. This is true to the best of our knowledge. The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.

CONTENT

SUBSCRIBE Subscription Enquiries % +971 4 2659704 response@ spiholding.net Editorial Enquiries & Contributions % +971 4 2659704 Fax: +971 4 2690566 editor@spiholding.net auritri@spiholding.net Advertising Enquiries % +971 4 2659704 response@spiholding.net SPI Publishing P.O. Box: 89735, Dubai, UAE Tel: +971 4 2659704 Fax: +971 4 2690566, +971 4 2651708 response@spiholding.net

Click the like button @TheIntelligentSME

Visit our website to get the latest NEWS www.theintelligentsme.com

Send us an email today with your thoughts auritri@spiholding.net

Be a Connector

Intelligent SME

April 2017

he first quarter of 2017 ended with the exciting news of Amazon’s acquisition of Souq at more than US$650 million. Souq has long been an inspiration for the local entrepreneurial community and this news has certainly brought a cheer in the region. Though the actuals of the deal are still unclear, it surely is a huge milestone for the home-grown brand and would definitely inspire more entrepreneurs to build their dreams in the MENA region. It will also be interesting to see the US$1bn Saudi-backed Noon.com stand up against the largest e-commerce player in the world. With plans of it getting launched within weeks from now, the competition will definitely be worth watching. Closer to home, the SME World Summit 2017 – the biggest entrepreneurship conference in the region – was a huge success with more than 2000 entrepreneurs, and corporate executives attending the event from all around the world. A one-of-a-kind event, the summit saw motivators, dreamers, achievers, individuals and organizations gather under one roof, share their journey and inspire hundreds. If you’ve missed it this year, do not forget that the event will come back next year too – bigger and better. As always, we’d love to hear your thoughts on our magazine and like to know what you want to read about next. Happy Reading! Shantanu Phansalkar, Publisher, SPI Group

PUBLISHER'S NOTE

Mohammed Bin Rashid Fund launches ‘START’ for aspiring UAE entrepreneurs

Saeed Matar Al Marri, The Fund Director & Deputy CEO of Dubai SME

he Mohammed Bin Rashid Fund (MBRF) under Dubai SME, the agency of the Department of Economic Development (DED) in Dubai, has announced a new competition ‘START’ as part of the 'Careers UAE' fair with total prize money of AED 1,000,000 million on offer for future UAE entrepreneurs. ‘START’ aims to assist unemployed Emiratis start their own businesses and thereby promote entrepreneurship as a culture and contributor to the economy in the UAE. Altogether, there will

Intelligent SME

April 2017

be 10 winners with each receiving AED 100,000 as prize money. The winners will be announced in May 2017. MBRF will begin receiving applications from young and ambitious Emiratis who wish to participate in the contest from April 9 to 23. Applications can be submitted through the fund website www.thefund.ae or by visiting the Dubai SME stand at 'Careers UAE.' "Dubai SME is participating in 'Careers UAE' as part of increasing awareness on entre-

preneurship as a career option among Emirati jobseekers and extending our resources and counsel to them. We decided to launch ‘START’ as it would inspire enterprising and ambitious youth to step forward and start working on launching their own projects with confidence," commented Saeed Matar Al Marri, - The Fund Director and Deputy CEO of Dubai SME. Launched in 2015 to maximize financing solutions for innovative businesses and developing Emirati entrepreneurship, the fund promotes startup businesses and supports their early stage development through a range of financing options including a non-interest Seed Capital Loan, Credit guarantee Scheme and LPO/Invoice financing. “START will provide another avenue for the entrepreneurial talent in the UAE to benefit from the Mohammed Bin Rashid Fund. Dubai SME is delighted to offer this added opportunity to the youth in the UAE and we also welcome visitors to 'Careers UAE' to benefit from the instant startup advisory we will be providing at our stand," added Al Marri Careers UAE will be held at the Dubai World Trade Centre, 9-11 April 2017.

BUSINESS ANNOUNCEMENTS

NAQEL and Dubai Trade join hands to train the GCC logistics community

audi Arabia’s leading logistics service provider - NAQEL has signed a Memorandum of Understanding with Dubai Trade, the premier trade facilitation entity in the U.A.E, to collaborate on education and training for the GCC Trade and logistics industry. Both organizations aim to provide training programs and events to develop best practice and knowledge in the sector. While NAQEL focuses its services on providing logistics and supply chain solutions to its customers in Saudi Arabia and GCC markets, it also contributes to the

development of the logistics and transportation industry in Saudi Arabia as a part of its corporate responsibility efforts. The training division of NAQEL – the ‘NAQEL Excellence Center’ - supports the Kingdom’s 2030 vision and its aim to transform its logistics and transportation sector. NAQEL also aims to support the specific training needs of organizations and private companies in Saudi Arabia involved in trade, logistics, customs, port handling and associated services. Mr. Adnan Al-Mazrooa, Deputy-CEO, NAQEL, Saudi Arabia, said “With this collaboration, we hope

to build unique training programs to develop the capabilities of logistics professionals in Saudi Arabia and other GCC countries”. Eng. Mahmood Al Bastaki, CEO of Dubai Trade welcomed this partnership. He said: “We are delighted to work closely with NAQEL as a leading logistics company in Saudi Arabia adding value to the trade and logistics community and keeping them up-to-date with the latest supply chain practices in the region and globally. We are committed to facilitate trading processes as well as enhance customer satisfaction and training is one way to fulfill that through our accredited programs.” In 2016, Dubai Trade was awarded the ‘Training & Education Provider of the Year’ at the Supply Chain and Transport Awards (SCATA). Its Certified Trade & Logistics Professional (CTLP) program has seen 1400 participants from local and international organizations. Dubai Trade also launched the Certified Customs Expert (CCE) program which addresses key elements and best procedures for customs processes in the region. Dubai Trade training programs are endorsed by the Chartered Institute of Logistics & Transport (CILT).

BUSINESS ANNOUNCEMENTS

Dubai rapidly moving toward becoming the first Blockchain powered city by 2020

ubai is rapidly moving toward implementing Blockchain technology, which offers speedy and cost-effective transactions, and reaching its target of becoming the first Blockchain powered city by 2020, a senior IT expert has said. Saeed Al Dhaheri, Chairman, Smartworld, while addressing a gathering of decision-makers and experts from across the UAE’s IT sector, said: “The market size for Blockchain is projected to grow from $210 million in 2016 to over $2.3 billion by 2021 and more organizations are looking for consultants to understand the applicability and impact of Blockchain in their businesses.” Highlighting the government initiatives in the direction, Dhaheri said the Dubai Blockchain Strategy will usher in tremendous economic opportunity across all sectors and further enhance Dubai’s reputation as a global technology leader, in line with Smart Dubai’s mandate to become global leader in the smart economy. Launched by His Highness Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, the

Intelligent SME

April 2017

Dubai Blockchain Strategy is a result of a collaboration between the Smart Dubai Office and the Dubai Future Foundation to continually explore and evaluate the latest technology innovations that demonstrate an opportunity to deliver more seamless, safe, efficient, and impactful city experiences. Adoption of Blockchain is estimated to result in over AED 5.5 billion savings annually towards document processing alone. “No one can ignore the importance of Blockchain and bitcoin at this moment as it is gaining momentum,” said Dhaheri. “It’s important for all industries including healthcare, real estate, insurance and others, and we are about to see a lot of adoption in the next 5-10 years,” he added. Talking about the challenges in implementation, Dhaheri said confusion in proper understanding of this technology, lack of trained resources and technical challenges need to be dealt with for effective implementation and to reap the most of Blockchain. “Having in-depth knowledge toward the Blockchain tech-

nology is a must. Blockchain is a collection of pre-existing technologies, in an elegant way. There are many options to choose from when building a tailor-fit platform or a service according to specific needs of the business but choosing options and building successful business heavily depend on the knowledge or experience the implementer has on technology,” he added. Dhaheri also highlighted on the need for regulators and market participants to proactively work together to identify the best supervisory models and approaches.

BUSINESS ANNOUNCEMENTS

Logistically Speaking:

Growth & Future in the UAE

HL has consistently been the UAE’s topmost place to work with outstanding workplace culture. How does DHL continue to retain this position and why is it so important to maintain a healthy employee engagement?

DHL Express has a vision that stresses on not only being a logistics provider people turn to as their first choice for shipping goods but also as a logistics employer for employees all over the world. With this vision in mind DHL Express has found itself as one of the leading employers in the region, with a fantastic rate of ensuring employee engagement – that’s over 5,000 happy employees in the MENA region! At DHL, we understand the value of recognizing and celebrating our employees’ dedication to the Company. Our appreciation program is key driver to engagement and our annual Employee

Intelligent SME

April 2017

Opinion Survey (EOS) makes sure that we honor our commitment to making DHL a great place to work. The EOS indicates how satisfied our employees are within their roles, and with their manager and DPDHL in general. It helps highlight how we can improve the way we work, so we continue to be the Employer of Choice. In a nutshell, the voice of employees straight to the top contributes in building the positive work environment. Our HR department is the custodian of the people agenda; however, all managers and employees are committed to executing this agenda and to making DHL a better place.

Can you share some of the key people initiatives that had a significant impact on the workings of your company? One of the key people initiatives that we have implemented

HENRY FARES, VP â&#x20AC;&#x201C; Human Resources, DHL Express, Middle East & North Africa talks to us about the culture of DHL Express, the successful amalgamation of people and technology in the company and its strategies and opportunities for the future.

INTERVIEW

was CIS – the Certified International Specialist platform. CIS is not a traditional training platform. It was designed first and foremost as an engagement tool. To underscore its importance, it has been delivered not only by professional trainers, but by our own management, to every one of our employees. The content of the program was focused on revisiting the history and entrepreneurial roots of the company, introducing employees to the fundamentals of international shipping and, perhaps most importantly, showcasing the role that every individual plays within our global network. Our business, like most others, is still operated and managed by human beings, and the benefits of multi-million dollar investments in transportation infrastructure and technology will be rendered meaningless if a courier who’s delivering a shipment decides to take a bad day at home out on a customer. In the case of a courier who is enthused and passionate about the work they do, however, it goes without saying that the benefits will be amplified. As with any other business activity, we intensely measure the performance of CIS – employee engagement, measured through our annual Employee Opinion Survey, has increased over the years. Our customer net promoter score improved globally. However, all told, this measurement means very little, because the impact for our business goes way

Intelligent SME

April 2017

beyond these numbers. The program has reformed and reshaped the culture of our company, empowered employees to be part of the growth story and helped them to develop skills that they can build further on within their own careers. What worked extremely well is the fact that every employee or Certified International Specialist as we like to call ourselves has real clarity and understanding of DHL Express culture, the business objectives of its FOCUS Strategy and the focus on international growth. Every employee connects and engages with the program and sees how critical each role is to the overall business success. DHL employees understand how DHL Express has made the world a little smaller and simpler for customers, by changing the way packages and documents can be moved at pace around the globe.

What would your advice for companies be that do not invest in employee engagement? Employee engagement is crucial for the success of any organization. “Here is my secret. It is very simple. It is only with the heart that one can see rightly; What is essential is invisible to the eye.” – The Little Prince Employee engagement is based on two factors: rational and emotional. The rational as-

pect of commitment is based on elements, such as salary, monetary benefits, and job growth potential and development. The emotional aspect on the other hand is based on the worker’s ethics, beliefs, and satisfaction in regard to his/her job choice. My humble thoughts on this one, on the long run the heart (emotional engagement) always take the upper hand.

How important is innovation and technology for your organization? Business is a combination of both science and art. As technology develops and the “science” offers even greater tools for management, companies will continue to deliver better results across all their metrics. But I would argue that many of these improvements will be subject to a diminishing

As Generation Y enters the workforce and Baby Boomers begin to retire, HR and Managers will need to work with a new mindset; address new employment preferences, hence adopt a new leadership style and adjust employee value propositions.

marginal utility of returns, as more and more businesses are able to take advantage of them. While “science” will continue to dictate appraisals of an executive’s performance, it is the “art” of management that will drive the successful businesses of the future. And engagement, however you measure it, will define the very best. DHL Express invests more than half a billion Euros per year in maintaining its global infrastructure. We have a large asset base, including cargo aircraft, delivery vehicles, warehouses, and sorting systems. Like most businesses, we employ modern technologies and sophisticated IT systems to track and manage our processes. But as a service company, we still depend on people to deliver the customer experience, and all

these investments would be rendered meaningless if our people were not motivated to provide great service. This underscores the importance of HR to a business like ours, and it has shifted the responsibility of HR from a traditional “back office” function to that of an enabler. For any service business today, whatever the level of automation you have been able to achieve, it is still more than likely that your customers’ perception of the service you provide is significantly influenced by interaction with your staff. And given that most service businesses have numerous interaction points, there is a strong chance that much of that interaction is not just with your sales or customer service team. From delivery drivers or engineers to credit controllers, even

right down to the people that are interviewing candidates for a job, you are creating a lasting impression that could drive (or deter) a future purchase decision and determine customer loyalty. As HR professionals, we are in a better position to influence this than many might think.

Can you share your thoughts on the future challenges/opportunities in the region and how does DHL Express plan to face them? The new challenges are more or less the same as the old ones. The questions we ask are the same but the answers have changed, matured and evolved according to the new circumstances. The challenges of some are opportunities for others. "One ship sails east, one ship sails west, regardless of the wind that blows. It is the set of the sail, not the gale that determines where we go“. We like to approach challenges as a learning opportunities. We train for certainty and educate for uncertainty At the human capital level the trending concern today is around the Generation Y, the Millennials. As Generation Y enters the workforce and Baby Boomers begin to retire, HR and Managers will need to work with a new mindset; address new employment preferences, hence adopt a new leadership style and adjust employee value propositions.

INTERVIEW

Having said that, there are still a lot of uncertainties and myths around the new workforce, for example, Gen Y demands excessive salary and compensation and Gen Y values social responsibility over other job attributes. From observation and practice Generation Y’s salary and compensation expectations do not differ from other generations. Generation Y emphasizes on development opportunities in the EVP. On the other hand an overemphasis on social responsibility will not attract and retain Generation Y; in case other EVPs

are not met. The new generation values Informal Environment and Camaraderie and like previous generations they welcome learning through application. Employees across generations Gen Y, Gen X and previously, the Baby Boomers all prefer learning-by-doing. In DHL we use the 70, 20, 10 development framework. People typically learn best through a combination of formal training, direct feedback and on the job experience as summarized below: 10% FORMAL TRAINING: Class-

room Courses, DHL programs, Online Courses 20% DIRECT FEEDBACK: Direct feedback & coaching from the line manager, Feedback from peer managers, Mentoring, Buddying 70% on the Job Experience: Enlarging the current role, Gaining different perspectives, through exposure to different cultures/business environments, Leading or getting involved in projects and start-ups, Analysis of difficult change scenario, Job shadowing

FOR YOUR LEGAL SOLUTIONS Contact our Lawyers

Abdulla Al Suwaidi Advocates & Legal Consultants is a Law firm established in the United Arab Emirates with offices and affiliates offices across the Middle East, America, Europe and Asia. We offer the most efficient with affordable fees for your legal requirements for both corporate and individuals.

Our team of lawyers specializes on below areas: • Representation in all UAE Courts, Public Prosecution, Police Station, DIFC Courts & Arbitration. • Family Law • Aviation • Marine • Oil & Gas • Corporate Law • Civil / Criminal • Commercial disputes • Constructions disputes • Debt recovery • Intellectual Property • Company formation & Incorporations (Offshore & Onshore) • Drafting Agreements and Wills • 2nd Citizenship in EU / Cyprus

Dubai Office Business Bay, Bay Square, Building #02, Office #704 P.O BOX: 96070 Dubai, UAE Phone No: +9714 554 7635, Mobile: +97155 9230221 http://www.awsuwaidi-advocates.com

info@awsuwaidi-advocates.com, aws@awsuwaidi-advocates.com

SME Finance: From Chaos to Clarity This article is about the most pertinent SME related topics of today – UAE Bankruptcy Law, VAT, New Commercial Company Law – discussed by some of the most eminent financial giants and experts of the region.

he UAE and the MENA region are currently witnessing a huge transformation in the Small and Medium Enterprises (SMEs) structure. The UAE government has been making significant fiscal changes to create a more sustainable and stimulating environment for the nation’s SMEs. New laws have been introduced and there is a distinct chatter about the impact of these laws among the business community and consumers in the region. At a recent panel discussion, themed ‘From Chaos to Clarity: Gearing up for the Upturn’, five finance specialists and experts discussed at length about the UAE Bankruptcy Law, Value-Added Tax (VAT), New Commercial Company Law and the Banking Facilities.

Intelligent SME

April 2017

Mr. Shridhar Sampath, Motivational Speaker, Motivaluate Consulting and Training Mr. Mohamed Hawary, Regional Director, GroFin, Egypt Mr. Anand Soni, CFO, BAFCO Group Mr. Shafiq ur Rahman, Partner, Ahmed Alagbari Chartered Accountants Mr. Ahmed Ibrahim, Partner, Head of Equity Capital Markets, Al Tamimi and Company. Shridhar Sampath, the moderator of the event started off the discussion with the basic but essential question of ‘the real business landscape of the region’ and ‘what can the SMEs look forward to the near to mid-term

future in the region.’ Anand Soni accepted that 2016 had been a cautious year for the SMEs with the community struggling due to both internal and external factors, but he also seemed hopeful that 2017 will bring in better times for the small and mid-sized entrepreneurs. There is a ‘guarded optimism, reconciliation to the changed financial environment and an anticipation of the new regulations’ that will boost the SME confidence and build the trust factor between banks and SMEs. Shafiq ur Rahman stressed on how innovation, technology and global digitization will be the key

factors in shaping the forthcoming year while Ahmed Ibrahim reminded everyone that while Dubai is nearing Expo 2020, it is also creating new and advanced opportunities for SMEs to further their business growth and development. Mohamed Hawary spoke about how the current amount of investment deployed to the SME sector is unlike anything that business history has ever seen – be it VCs, banks, SME funds, development funds and more. While this is a very positive trend, the MENA region also suffers from the disadvantages of having laws that are primarily dictated by the interests of the

large and established business organizations; and do not necessarily coincide with the business interests of its SME counterparts. As such, in Hawary’s words, “The government has a huge challenge to shift the rules and investment laws towards this very vital (SME) sector.” In response to Shridhar’s next question on the changing banking scenario against the SMEs and if there have been an increase in the available financing options, Mohamed Hawary reinstated that the possibilities for SME financing has definitely increased and shows a positive outlook. “But it is also a question

COVER STORY

of pinpointing who is the right audience for your pitch.” So for example, a tech startup would do well with a VC fund, and an SME whose end purpose is ‘impact’ would be better off with an ‘impact fund’ or a development fund. Hence, ‘banking is not the only solution.’ Hawary further said, “Banks have been pushed by the governments into this sector, but unless the governments are able to turn this sector into a financial sector for the banks, I don’t see these initiatives being sustainable in the near future.” Anand Soni observed that there has been a significant trust issue between the banks and the SMEs and ‘both are right in their own way.’ While lack of financial aid from banks is a common grievance among the SMEs, banks believe that SMEs need to have a strong financial discipline and a clear idea of what they want for their pitch to be heard. The panelists also spoke about the New UAE Commercial Companies Law that’s going to be effective soon. In response to Shridhar Sampath’s query on the critical clauses that SMEs need to be aware of for a smooth transition exempt from legal hassles, Ahmed Ibrahim replied that the new reforms impact private companies including SMEs and public companies as well. One of the major reforms allows private companies to have sole ownership of an LLC and doesn’t require two shareholders at the helm of it; however,

Intelligent SME

April 2017

it is restricted to UAE nationals only. But then, SMEs depending on their expertise can select their specific freezones and establish their companies with 100 percent ownership without any local influence. The second critical component introduced by the new law allows banks to pledge on shares of LLCs thus making financing conducive for the financial institutions. There are also some logistical reforms like decreasing the number of days required to issue a call for the general assembly, removal of any caps on the appointment of managers, and new governance guidelines for the SMEs. The discussion then shifted towards VAT and its implications to which Shafiq ur Rahman ex-

plained how VAT wouldn’t be applicable on basic necessities like education and healthcare. Since VAT is an indirect tax applied on the supply chain of the goods and services at every stage and only on non-essentials and luxury items, the cost of living will go up based on the consumer’s purchase behavior, preferences and lifestyle. However, for the SMEs to understand the implications of VAT, they need to study the standard rate, exemption rate and the zero rates along with whether VAT will impact them while dealing with the suppliers or the consumers. This will affect the SME’s bookkeeping and accounting system and bring about a change in the operation and governance of the company. Anand Soni also

COVER STORY

added that there will be a temporary cashflow effect once the VAT is implemented. â&#x20AC;&#x153;Effectively, it would mean that the SME will have to pay the net differential between VAT payable and VAT receivable; hence the financial department of an organization will have to plan the monthly cash outflow and cash inflow.â&#x20AC;? In conclusion, the experts pointed out certain cashflow challenges and solutions that the SMEs need to look into for a legal-free and compliant business environment:

Manage and streamline their internal and external bookkeeping and accounting systems Make sure that the SMEs are registered in the system so that they can reclaim their VAT Technologically skilled SME owners might not have the necessary business skills such as financial literacy; hence it is important that they either acquire that knowledge through study or partner with/employ an individual or organization for maximum benefit

3 Ways to Use Marketing Automation in the Middle East In this article, Janne KilpelĂ¤inen talks about marketing automation thatâ&#x20AC;&#x2122;s designed to help an organization prioritize and execute its marketing tasks in a much more efficient and streamlined manner.

ith more than 10 years working in various marketing roles in the Middle East, I have been privileged to work with businesses and organizations across industries. Based on my experience, companies have plenty of untapped potential with their customer data to start engaging in data-driven marketing communications for their customer loyalty, retention

Intelligent SME

April 2017

and customer lifecycle value. Data-driven marketing automation helps SMEs to focus on engaging content while getting rid of much of the manual campaign management. The key is to move away from mass communication and to go after personalized communication taking customer data into account. This helps to create customer segments as well as triggered and automated messaging.

For larger corporations marketing automation is essential to engage with omnichannel campaigns and handling different customer segments which combine several sources of customer data. Every business loves to get leads and lead nurturing is typically important for companies of all sizes. Let's take a look at three examples, where marketing automation could be used in the Middle East.

JANNE KILPELĂ&#x201E;INEN is the regional head for Liana Technologies in the Middle East. Janne is passionate about digital marketing and bringing the online revolution to the Middle East. Liana Technologies is an international digital marketing solutions provider working with marketing and communication professionals in over 3500 companies worldwide.

1 Case Hotel A: You have leads, but they are not converting Challenge: Company A is a group of several hotels in Dubai under their management. Their occupancy level is high but significant share of bookings come through online travel agents, such as Booking. com. Like any similar hotel, they want to improve their margins by increasing the share of direct bookings through their own website and direct sales team. Also, they have several F&B and spa outlets in their hotels they want their guests as well as local residents to visit. They have plenty of website visitors, but trouble converting them into room and F&B bookings. They send their monthly newsletters to everybody in their database, but have

trouble diminishing open and click rates for those emails.

Solution: Marketing automation enables the hotel to identify website visitors, segment their database and create communication with the right content at the right time to the right recipient. By choosing the right moment to reach out to the potential customer with relevant content, the hotel now has better chances of converting those website visitors into bookings. Integrating marketing automation solutions with their various touch points and their customers, they're automatically enriching and segmenting their valuable customer database.

Examples: A customer has chosen the dates and hotel, but didn't complete the booking send them an email on the following day with a link to complete the booking as well as options for their other hotels. A user has signed up to the free wifi at the hotel introduce

the F&B offerings across outlets. A booking has been made up-sell your additional services, for example, a spa package or room upgrade.

Case real estate B: Need to generate new leads Challenge: Corporate B is a real estate agency based in Dubai. The team is wasting a considerable amount of time on the leads that are not ready to buy, and the lead conversion has been down lately. Also, their customer database is old and brought in by the agents when they joined the company. Most likely, it is the same database all the other real estate agencies use in Dubai and the email blasts they send to them

SME MARKETING

get very little response.

Solution: Marketing automation helps to identify the maturity and quality of the inbound prospects based on interaction with the company's online resources (email marketing, website, social media) and other sources (CRM, property portals and event registrations). This way, they collect relevant data about the leads and segment their database accordingly. This helps the sales team to focus on those leads that are most likely to convert to buying customers.

Examples: A prospect fills in the lead form on Facebook add a lead to the marketing database and create a drip campaign about the off-plan property launch. The first email talks about location, the second email about investment and the third email has the link to download the brochure from the landing page. A new lead is recoded in the CRM depending on the segment of the lead (e.g. buyer, seller, tenant or landlord), the lead will get a relevant thank you email. For example, if the lead is a buyer and interested in offplan investment, they will get an email about selection of available off-plan properties. A lead clicks a link in a newsletter leading to a landing page, but doesn't fill in the lead capture form retarget with

Intelligent SME

April 2017

an email and/or SMS on the following day with a call to action message to come back to fill in the form.

personalised with recommended products, for example, based on earlier purchase history.

Examples:

3 Case webstore C: growing faster than your resources Challenge: Company C is a growing online store in Abu Dhabi. The majority of its website traffic is coming from PPC advertising and online search, which is both costly and website bounces are high. The majority of the customers who place products in the shopping carts leave the site without completing the purchase. Their newsletter is generic and sent to the whole database with the same content.

Solution: With the help of marketing automation, the online shop is able to identify the interests of their website visitors and increase conversions by retargeting with email. The ROI is improved as it helps them to reduce the required PPC ads and increase the conversions in general on their shop. Communication becomes

A customer places products on the shopping cart but leaves the shop without completing the purchase send an email on the following day reminding they still have the products stored in the shopping cart for the next 24h and a link to complete the purchase. Capture emails in a pop-up with an incentive to subscribe to the newsletter, for example, 10% off from the first purchase once the website visitor is identified, you can retarget with an email containing products from the categories they visited. A customer has not bought anything in the last 60 days send an email highlighting products from the last purchased product category to maximize the customer lifecycle value. Each industry has several examples and ideas of how marketing automation can be used to drive measurable results. The above-mentioned examples just scratch the surface. A good practice to get started is to collect the available customer data, choose the right marketing automation solution and begin with the basic automations. More advanced automations can be added later and finetuned when the results are reviewed.

SME MARKETING

BackUp On The Cloud

RISE RI R IIS SE R V V

RISE R RISER ISER IS SER ER V

4400

Risk Free Data Backup From FIRE

RANSOMWARE

FLOOD

BREAKDOWN

Karshini Perera CONTACT US

+971 4 4288390 | +971 564222139 sales@wannagocloud.com | www.wannagocloud.com

Pay for the talent you want The right kind of talent will stay with you only if you value them. GEORGE DEEB talks more on the practice and implications of undervaluing your employees

get it. Most startups operate on fumes, in terms of available cash resources. So, the natural instinct of most entrepreneurs is to pay as little as they can for most of the expenses in their business. And, I agree with that for most all expense categories, except one: human talent. Building the right team for your startupÂ is the single most important thing you will do in terms of putting your business on a path toward success or failure. You try to cut corners with your talent decisions, and you are toast!!

Intelligent SME

April 2017

GEORGE DEEB writes about growth strategy, execution & financing. He is a Managing Partner at Chicago-based Red Rocket Ventures, a growth consulting, executive coaching, shared executive and financial advisory firm based in Chicago. He is a past Ernst & Young "Entrepreneur of the Year" in the midwest, for his efforts as Founder & CEO of iExplore. You can follow George on Twitter at @georgedeeb.

When Hiring Employees

here are many ways startups try to save payroll costs. Sometimes they find the candidate willing to do the job for less money. Sometimes they downgrade the position (e.g., from a VP of Marketing to a Marketing Manager). Sometimes they try to avoid paying expensive benefits or giving out dilutive stock options in their business. Each of these examples is filled with opportunities to fall on your sword. You have to ask yourself these key questions before going down one of these routes. Why is that person willing to work for less money than their peers; maybe they are desperate, hopping from one job to the next? Who has the most experience to help you achieve your desired goals; the first timer experimenting with your business, or the proven veteran that can shorten the learning curve making fewer costly mistakes? Do you really think you are going to be competitive to attract the best talent up against other high-flying startups when others are offering meaningful benefits and upside incentives

and you are not? As you can see, hiring talent has much higher potential costs, than just their line item in the budget, if you make the short-sighted, cash-saving decision.

When Engaging Professionals

he same holds true when you are engaging professionals (e.g., accountants, lawyers, consultants). If one professional is saying they will do the work for $100 per hour and another is quoting you $200 per hour, your instinct shouldn’t immediately jump to the one offering the lowest price. As an example, maybe the higher-priced solution has the learning from a 20 year career vs. a five year career, to help you avoid more known pitfalls that you don’t even see coming. Or, they have helped 20 clients succeed in similar situations, vs. two clients succeed (the ones they tell you about) and 10 clients not succeed (the ones they don’t tell you about)? Or, the higher priced consultant can afford to charge those rates, because their time is limited and everyone is fighting

to get his or her involvement with their business because they are simply the best? Again, not all professionals are created equal, and you need to peel back the layers of the onion far deeper than just jumping to the lowest-priced solution.

When Seeking Mentors

s a mentor myself, I am very selective with my time. There are only so many hours in the day, and I have to prioritize with whom I invest my limited time. In any given year, there may be hundreds of startups looking for free help, and less than 10% percent of them have any chance for long term scalable success. And, from those dozens that have a fighting chance, the best mentors typically only have time to work with a couple. So, to the extent you can offer them a good reason to pick your business (e.g., stock options, advisor fees), you want to make sure you break through the clutter, to ensure they work with you. Equally important, make sure the mentor is qualified to be

HUMAN RESOURCES

advising you on that specific topic at hand. Getting free mentorship on marketing ideas from your lawyer is probably not as effective as getting professional marketing advice from a proven marketer, even if you have to incentivize that mentor to get it. So, donâ&#x20AC;&#x2122;t go down the cheapest route looking for advice, go down the best route.

When Raising Capital

have often said that venture capitalists would rather invest in an A+ team with a B+ idea, than a B+ team with an A+ idea.

TB_Intelligent SME_HP_April17_Final.pdf

First of all, there is not a lot of margin for error in your hiring decisions, so it is critical you get it right in order to get investors excited about your business. And, secondly, when doing your budgeting work, you canâ&#x20AC;&#x2122;t only look at the talent as an expense line in your payroll; you have to think about if that talent can help you open up additional investment resources that otherwise would not be available to you.Â Said another way, you need to invest money in experienced talent that investors are looking for, to

3/20/17

10:53 AM

help you raise money, that will help take your business to new heights. So, stop thinking about talent as simply line items in your budgets, as their value can help you many other ways than simply doing their job.

Payroll Mistakes are the Most Costly

opefully, what you have seen in this post is: (i) decisions around human talent will be the most important ones you will make; (ii) going down the cheapest route, is often times a recipe for disaster; and (iii) the costs of making a talent mistake can often end up being materially more expensive than the originally monies you were trying to save in the first place. To pound home this last point, you hire the wrong enterprise sales guy, trying to save a short term buck, and you lose precious months of selling time and revenues, and

potentially just put yourself out of business. So, long story short: don’t think cheap with your talent decisions; think the best, even if it comes at a higher cost. What you are losing

in short term cash, you are more than going to make up for in long term success. As the old adage says: you get what you pay for!

VAT CONSULTANTS • Trainings and awareness programs on VAT in the UAE • Consultancy Services for VAT implementation for Corporates & SMEs

OUR ACTIVITIES • • • • • • • • UAE • INDIA • UK www.emiratesca.com enquiry@emiratesca.com Call: +971 4 2500 290

AUDITING & ASSURANCE ACCOUNTING & BOOKKEEPING COMPANY FORMATION SERVICES BUSINESS VALUATION CORPORATE FINANCE TAX CONSULTANCY CFO SERVICES MARKET RESEARCH & BUSINESS PLAN

Group Entities Emirates Chartered Accountants Emirates International Chartered Accountants Co. United Auditing Emirates Accounts Services UK

7 Rules to Assigning Job Roles in a Family Business Each business has a variety of components necessary for it to function, from marketing and sales to operations, from leadership to finance. Each component is important on its own, but they are also important to each other. When one component breaks down, it can impact the entire organization, affecting its ability to run effectively, productively, and efficiently. REG ATHWAL helps you set some guidelines and rules to ensure that the right person represents each role, and avoid the pitfalls that many other family businesses fall into when assigning job roles. 32

Intelligent SME

April 2017

n this article Iâ&#x20AC;&#x2122;m going to introduce and explain seven important rules for defining and assigning job roles. Follow these rules and youâ&#x20AC;&#x2122;ll assemble a Dream Team that will not only start the game off right (to get back to our previous football/soccer analogy), but will be able to take your business to the next level and beyond. The right Dream Team will foster current success, but will also position the business so that future generations enjoy similar success.

REG ATHWAL is the Chairman of RAW Group and the Founding Partner & MD of RTS Global Partners, the leading family business advisory firm.

Define Roles: One of the positive aspects of the family business is that roles tend to be informal and flexible, allowing for quick decision to be made, entrepreneurism to flourish, and innovation to thrive. It’s a rare family business member who utters the words, “That’s not in my job description.” Most workers, because their success is directly tied to the success of the business, are willing to pitch in where necessary. This is particularly true in smaller, start-up family businesses, where’s there’s simply not enough capital to carry a large staff. But there’s a fine line between informal and… well… too informal. When that line is crossed job roles become unclear and confusing. There may be a lack of organization, and family members may find themselves not just pitching in here and there when absolutely necessary, but playing dual roles. When job roles become unclear and confusing they simply aren’t

To ensure that job roles are accurately defined and to increase the odds that the right people end up in the right jobs, begin by making a list of jobs required for maximum performance and success. Performance reviews should be structured so that an employee’s talents and strengths are the focus of future goals and performance objectives.

performed as they should be. Family members may not have a clear understanding of what is expected of them or of others, and the result is that tasks go undone, or aren’t done in the best way. When things fall apart, there can be lack of accountability, finger pointing, and conflict. The results are no better when workers play dual roles. In this situation, certain areas that could really thrive and contribute to the

overall performance of the organization suffer. How? Let’s say you have a worker who fits the “Promoter” profile on The Dream Team. This person is in charge of marketing, communication, and public relations. But, due to undefined job roles, this person often finds himself picking up the slack in the “Operator” profile. Typically, the result is that both areas suffer. The worker is taking valuable time away from his

FAMILY BUSINESS

strengths to operate in an area that’s not necessarily suitable to his personality or skill set. To ensure that job roles are accurately defined and to increase the odds that the right people end up in the right jobs, begin by making a list of jobs required for maximum performance and success. Then, match the jobs with the nine profiles from the Dream Team Model. At this point, you should not only have a solid idea of what job roles your organization needs, you should also have a good idea of what type of person will best fill those roles.

Separate the Family Hierarchy from the Organizational Hierarchy: When it comes to filling job roles, think less about bloodlines, age, and gender, and more about qualifications, experience, and aptitude. It sounds easy, but in reality it’s often very difficult for family businesses to put good management practices ahead of tradition. As the family business survives from one generation to the next, and the idea of how job roles are managed become more ingrained, this can become even more difficult. For example, the CEO position may always go to the first-born son of the current leader, regardless of whether that first-born son has the aptitude,

Intelligent SME

April 2017

ability, and interest to lead the organization. While some cultures make it difficult to deviate from this practice, more and more family businesses are recognizing the importance of putting family members in complementary roles, instead of in roles according to their family position.

Develop an Organizational Chart: There are several types of organizational structures to choose from—hierarchical, horizontal, matrix. What type of organizational structure you choose is infinitely less important than the fact that you have one. An organizational chart shows the leaders, managers, and workers in an organization, and outlines their relationship to one another. In small family businesses one chart may suffice for an entire company. In larger family businesses with more complex structures, it’s important to have smaller charts for individual departments, as well as a larger chart for the entire organization. As I mentioned earlier, one of the strengths of the family business is that the atmosphere is, typically, somewhat less formal and more flexible than that of the non-family business. While this does allow creativity, entrepreneurship, and innovation to

bloom, an atmosphere that is so informal that it creates a free-forall can be unclear, confusing, and can result in uncertainty, disappointment, and family conflict. Developing an organizational structure, and ensuring that all workers have a solid understanding of the organizational structure—who they work for, who works for them, how different departments and job titles interact, etc., allows an organization to retain yet temper the informal, flexible atmosphere. For examples of several different types of organizational charts, ask RTS Global Partners for some of our Templates and Worksheets.

Create a Structured and Systematic Program for Business Entry: Non-family businesses wouldn’t dream of allowing unqualified, inexperienced, or incompetent workers into the fold. Nor should you. A typical business has a large pool of applicants to choose from for any particular job, and can choose from that pool those with the most complementary qualities, skills, and experience. Family businesses are somewhat different in that the pool of applicants is significantly smaller, and determined by bloodlines rather

than by qualifications. That shouldn’t mean that employees are less qualified, but it does mean that more focus must be placed on ensuring that those entering the business fulfill certain qualities and qualifications. This can be done by developing a structured and systematic program that all employees must follow before entering the family business, in which specific education and experience levels are established. RTS Global Partners has created the FamilyMBA program as mentioned in earlier articles to enable next-gen members to learn about the family business and about themselves over a year-long structured program.

Hire Outside Professionals to Manage, in Certain Circumstances: Sometimes, it makes sense to hire managers and leaders from outside the family. This is true when family members lack the requisite experience, qualities, and skills of a leader, as well as when ongoing conflict among competing family members is an issue. There are several benefits to hiring outside professionals. First of all, in situations where qualified family members aren’t available, hiring competent, qualified outside professionals to manage

Hiring outside managers has an additional benefit: it encourages entrepreneurism.

improves the performance of all employees. When managers are competent, the work environment improves, and mutual respect between both family members and outside employees is fostered. In larger family businesses that rely on non-family employees, it is very difficult for employees to feel valued and respected, and therefore to adequately do their jobs, when they are frustrated by lack of good management. It is additionally frustrating if the employee believes there will be no consequences for poor management—a poor manager will not be fired, demoted, or even corrected or reprimanded, because that person is “family.” Hiring outside managers has an additional benefit: it encourages entrepreneurism. When family members, particularly young family members, aren’t guaranteed management positions and must compete for their spots in the business, the best get creative. They may develop new services or products to head up, expanding and improving the

current organization. This gives the business a better chance of keeping up with changing times and changing markets, creates new revenue streams, and better positions the business for longevity.

Develop a Formal Review Process: To ensure quality and competency, it’s important that every employee takes part in a formal job review process, both family and non-family employees. This will level the playing field, lead to mutual respect between family members as well as between family members and outside professionals, and increase performance. At RTS Global Partners we have a robust Performance Profile-Key Results Areas (PPKRA) system we implement to ensure all family and non-family members are kept accountable

FAMILY BUSINESS

and evaluated objectively and not subjectively. Many family-run businesses actually go out of the way to avoid a formal review process; because they feel formal reviews may lead to emotional upheaval or conflict among family members. Indeed, in some cases they may, but the short-term cost of emotional upheaval is much preferable to the long-term cost of having poor performers in place. Other organizations forego the formal review process because they feel it’s contrary to the laid- back, flexible environment of the family business. Still other organizations simply lack the discipline to develop a formal review process. Regardless of the reason for lacking a review process, the end result is the same, employees simply don’t perform to their maximum capability when they aren’t crystal clear on what their goals are, how those goals will be measured, and what the rewards and consequences will be for meeting, or failing to meet, those goals. In addition, family businesses that don’t have formal review processes tend to have extremely high turnover in non-family employees, some of whom are integral to the business. If employees feel that family will always advance over “outsiders,” even when a family member is lazy, inexperienced, unskilled, or incompetent, there is very little incentive to remain. Performance reviews should

Intelligent SME

April 2017

be structured so that an employee’s talents and strengths are the focus of future goals and performance objectives. A good rule of thumb is to focus 90% on the good stuff, and 10% on the stuff that needs improvement. Of course, that’s if you have a good performer. If you’re dealing with a bad performer, rules change.

Institute Strong Compensation Policies: One common mistake that family businesses make is to have an “equal pay for all” philosophy, allowing family members that share a particular status—those from the same family, those of the same gender, those of the same age, etc., to share a compensation plan, regardless of their skill, education, experience, and contribution. If there’s a more effective way to encourage mediocre performance among your most talented, and to ensure poor performance among your least talented, I’ve yet to see it. This is why we implement Grading Levels with Compensation linked to Contribution and not just facetime. This type of equal pay remuneration policy can also create the type of conflict you are trying to avoid. In most situations, an

“equal pay for all” policy is developed with the best of intentions. Leaders want the compensation policy to be seen as “fair” among all children. Unfortunately, high performers end up feeling that it’s anything but. “Equal pay among all” can make competent employees feel as if they are “taking care of” less talented employees. This can lead to the very resentment and discord leaders were trying to sidestep to begin with. Quite simply, compensation should be based on meeting the family values, taking responsibility and superior performance, and nothing else. Compensation should not be inflated to take care of a particular family member’s financial needs. A pay package should be directly based on what other organizations, in similar industries of similar size, are paying their employees. A high-performing employee with heavy responsibility should be highly paid. Poor performers should be professionally departed or given lower level roles on lower salary grades. You can also benchmark the industry to ensure this is based on market rates.

FAMILY BUSINESS

PARTNER

SILVER SPONSOR

CINEMA PARTNER

EXCLUSIVE ASIAN RADIO PARTNER

TELEVISION PARTNER

SPACE COURTESY

Benefits of Automated HR Solutions Today the conventional method of performing HR duties manually is no more the trend. On contrary, automating HR solutions is a far smarter way to make a business more streamlined, goal-oriented & efficient. TAREK BAYAA talks more about this process and why should SMEs choose to automate their Human Resource department.

e live in a world where time is money, the more time you spend on doing one task, the more money youâ&#x20AC;&#x2122;ve just lost. While larger organizations may not notice this loss, SMEs that wonâ&#x20AC;&#x2122;t learn how to improve the efficiency of their processes risk being left behind. Luckily, smart technologies keep disrupting the way how companies operate pushing them to implement some of those solutions to stay competitive and keep up with the business needs. SMEs that will learn how to integrate smart solutions will become more efficient and can operate

Intelligent SME

April 2017

TAREK BAYAA is the Chief Commercial Officer at Bayzat and is responsible for establishing a world-class sales team and in delivering exceptional customer service. Prior to joining Bayzat, Tarek spent eight years at GE in various positions and multiple geographies. With a passion for technology, Bayaa recently delivered a speech on emerging millennials in the work place ‘How mobile can help HR engage employees and drive system usage’ for the 20th anniversary of HR Compensation and Benefits Forum 2016.

effectively even with fewer resources. It’s also a well-known fact that early tech adopters usually gain a competitive advantage as well. With so many tools available it’s a bit hard to believe that many companies still do tasks manually. No wonder there are not enough hours in the day. In average, managers work for 49.4 hours each week, with only 59% of a manager’s time spent on activities that add value, while the rest of time is spent in endless meetings, emails, and administrative tasks. Reports state that an average employee can waste up to 520 hours per year! Considering Operations and HR department involve a multitude of tasks such as billing, recruiting, effective employee management, data and time tracking, securing and processing employee benefits to name a few; it’s shocking that over 50% of an HR department's time is usually spent on processing employee information and answering queries. Bearing in mind that not every SME may have a dedicated HR department or specialist,

Automation of human resources is one of the ways that can help you stay on top of things and get notifications every time a document needs to be updated.

automation of some of such processes can help businesses save valuable time and, most importantly, save money. As digitization continues rapidly, it is imperative that SMEs progress at the same speed in order to keep the business running smoothly. Although adopting the new technologies may seem costly at first; in reality, integration of some smart tech platforms or apps comes with no cost and they can simplify your life with a couple of clicks.

So how can automation of processes help

SMEs save costs and unlock the potential of their strategic departments? Spend less time, earn more By simplifying and accelerating all processes, SMEs can do more and earn more, but quite often it’s easier said than done. When your HR manager spends more than six hours a week just sorting out employee timesheets, it’s quite hard to fit that many things in a week. In this case, automa-

HUMAN RESOURCES

tion of processes will provide you with cost savings in terms of increased productivity gains. Staff can actually spend more time now dealing with issues that require their personal attention such as annual HR strategy.

Less room for error Avoid extra spend or penalties by having all employee data up to date. Are you among those companies that use Excel sheets to track all documents? How do you know when you need to renew your employees’ visas? What is the expiry date for their IDs or passports? Automation of human resources is one of the ways that can help you stay on top of things and get notifications every time a document needs to be updated. HR software can also reduce the duplication of data and allow applicants to submit many documents directly. For example, Bayzat Benefits™ , an online platform that HR managers can use in the UAE to automate their admin work. Integrated OCR technology extracts information from documents that are uploaded on to the platform. And all you need is to simply drag and drop documents, there is no manual input needed which means there is less room for error.

Enhance job satisfaction and employee 40

Intelligent SME

April 2017

development Reports show that 52% of office workers log into work outside of business hours every day and 72% log into work email even on the weekends to “get ahead of work” followed by "too much work to do". While overload can happen from time to time, if it is ongoing it can turn into creative burnout and emotional exhaustion. Automating HR frees up your staff time and allows the team to work on primary tasks and stay focused on essentials that require their expertise. Behind every successful business is its most important asset – people. Keep your employees motivated and happy, empower them with the right tools, and you’ll be surprised how much can be achieved.

Repetitive tasks are boring We all remember how we felt when we needed to do the same task over and over again. You feel like it kills creativity turning you into a machine; so why not delegate this task to real machines. Smart applications can do these tasks for us while relying on error-free algorithms. Unlock the potential of your staff by simply crossing such administrative manual tasks off their to-do lists as time tracking, billing, data entry, benefits management, importing of excel documents, performance

management, leave and travel requests management, expenses tracking to name a few.

Streamline your business processes As your business grows, it’s important to track all information and organize correctly. It will not only help you find documents fast but ensure there is no duplication, all bills are paid on time, and all important information is filed and accessible by people in charge. Even if you spend most of your day out of office at meetings, your colleagues still have access to information, so there is a smooth interaction between departments. Moving from paper-based to secured online-based HR solutions can improve communication and streamline business processes throughout an entire company, empowering SMEs with the right tools to make key decisions and move their business forward.

HUMAN RESOURCES

P.O. Box 61450, Dubai, United Arab Emirates P.O. +971 Box 61450, United Arab4 Emirates Tel: 4 881 Dubai, 8288, Fax: +971 881 9157 Tel: +971 4 881 8288, Fax: +971 4 881 9157 Email: AFL.relocations@alfuttaim.ae Email: AFL.relocations@alfuttaim.ae

2020 2020 READY READY

www.aflogistics.com www.aflogistics.com

Quality Governance: Key to Sustainability Successful SMEs need to cultivate the concept of governance and promote a senior risk management executive to support the activities of the business leader. In this article, SIMON HODGES explains how setting up an effective leadership team can be critical to business expansions, mitigate risks and contribute to its overall growth & success.

s businesses grow the organizations needed to support them also grow. Higher revenues require additional resources, more support and a greater sales effort. Additional business units are opened and communication lines extended. More people are taken on and customers demand quicker services at lower costs. Suddenly it seems there are not enough hours in the day, every call is another crisis that requires attention and more worryingly, the financial results seem to struggle to meet expectations. Although the continued development of the business remains a dream, somehow it becomes impossible to find the time to consider the next steps even if

Intelligent SME

April 2017

the finance was available, so, in effect, the business stalls. Once a business reaches this stage, the organization should be transitioned from a start-up structure often relying only on the skill of making and selling the

product or service to one where understanding and directing a wide range of business expertise to support the delivery of the product or service becomes an additional requirement. This means that the business

By taking on the wider role of the management of the organization, the senior executive takes responsibility for the health of the organization and its ability to deliver sustainable profits.

SIMON HODGES is a Chartered Secretary and a Member of the Institute of Chartered Secretaries and Administrators, the globally recognized and professional body for governance professionals. He has 30 years of experience at Board level working for international publically traded and privately held companies headquartered in Abu Dhabi, Dubai.

leader (the risk taker) must accept that all aspects of the business must be directed and not just the parts they understand or like and consequently they need to bring on board new skills to be able to manage those areas that are in fact vital to the

success of any growth plan. Unfortunately for many SME businesses, the reality is that the leader continues to make every meaningful decision, which results in the simple fact that there is only so much one individual can do and because of this, many

vital decisions are in fact never made. Many would argue that the answer lies in the immediate establishment of traditional corporate governance structures and processes. While thereâ&#x20AC;&#x2122;s no doubt that such structures when set up

SME SUSTENANCE

and used correctly, considerably enhance the performance of an organization, sadly, for smaller organizations such systems are often implemented too early. This is because they add levels of bureaucracy and cost without addressing what the business requires to achieve sustainable growth - that is organizational development. There is an intermediate step that would allow smaller organizations to broadly maintain their entrepreneurial set up while helping the leadership tackle the problem of establishing management systems that can support significant growth. This process requires an additional skill set to be established at the top of the organization. In the start-up phase, the risk-taking skills are the only ones that matter because they involve the creation and subsequent sale of the product or service. However, as the business matures, these risk-taking attributes can no longer drive the organization forward on their own, although the organization needs to continue to take risks if it is to grow. Forward-thinking leadership will recognize that the effective management of a variety of support activities has now become just as important element to success. It has therefore become necessary to establish a risk management expertise.

Intelligent SME

April 2017

Can you identify when this is required? If a business suffers from an unexplained constant shortage of cash and/or a multitude of seemingly stupid little mistakes at the operational level, that can usually be put down to the failure of an individual, or a constant blame-game, then almost always itâ&#x20AC;&#x2122;s because the business has grown beyond the ability of the organization to support it and consequently, is no longer fit for purpose. There are two advantages to keeping an organization fit for purpose. First, the allocation of responsibilities for the management of the organization allows the business leader to concentrate on business development. Second, by understanding the growth plans and then looking at

the organization to ensure that it is fit for purpose means that every part of the business will be able to obtain sufficient resources and skills thereby ensuring that the growth plans are delivered in a sustainable way. Where resources are limited, appropriate adjustments can be made to the growth plans. In larger organizations, support management skills are spread amongst specialists such as the chairman, executive directors, non-executive directors and the company secretary. In other words, the Board. For smaller businesses, the need for a full-time board cannot be justified on the grounds of both cost and workload and therefore, it would make sense for one senior executive to be

SME SUSTENANCE

appointed to represent and be responsible for these roles at the decision-making process. Unfortunately, many small organizations do not see the need to establish such a capability preferring instead to leave individuals to get on with their job with little supervision. The result is that the different parts of the organization begin to follow their own agendas so that they work at odds with each other causing inefficiencies and blockages. An example of this is the management of the finance function. Here the control of expenditure

is undoubtedly a key objective. However, restricting resources when they are required may meet the finance objectives but will prevent the organization from meeting its full potential. What therefore is required is a senior executive who has the time and interest to understand all the aspects that make the business work and has the authority to make things happen. By taking on the wider role of the management of the organization, the senior executive takes responsibility for the health of the organization and its ability

to deliver sustainable profits growth in support of the objectives of the risk taker. Both the risk taker and the risk manager therefore become the forerunner of a board of directors and as the business grows, additional full time skills can be added to this team as required. These management activities will then allow the organization to grow in line with the business thereby creating an effective corporate governance system for mid-sized SMEs that can both create and deliver sustainable growth.

SME trends in 2017 STEVE CURRIE talks about the most important trends among the SMEs that are likely to dominate the rest of 2017.

ntering the second quarter of the calendar year is a great opportunity to have a look at how the year is shaping up according to set business plans and overall strategy. It's a time to look at what small adjustments can be made now that will have a significant impact later in the year. It's fair to say that 2017 is still a difficult year for many. There is still a lot of uncertainty in the marketplace with many companies having to make tough decisions about how they can best service their clients in this tough environment. However, at the same time there is a sense of opportunity in the air especially within the SME sector. There are

Intelligent SME

April 2017

a number of bodies and companies within the UAE working hard to give SMEs the best possible support network. But there are a few simple steps that some are already implementing to help themselves. Itâ&#x20AC;&#x2122;s about changing the mindset. For example, SMEs are adopting new ways of working and theyâ&#x20AC;&#x2122;re looking at new ways to stand out from the crowd which is critical to a companyâ&#x20AC;&#x2122;s success. Those unwilling to embrace change and challenge pre-existing thought processes are the ones who will be left behind. In many cases, SMEs are ideally suited to be

STEVE CURRIE, General Manager at Taskgate - With more than 20 years’ experience in recruitment, sales, business development and management, Currie pursued his passion to help companies in the UAE obtain the skills and services required by utilizing a flexible workforce. Taskgate is the result. Prior to establishing Taskgate, Currie held several senior positions, including Project Manager at Al Tamimi Investments, Recruitment Manager for Allen & York, a UK-headquartered sustainability recruitment business and the UAE Country Manager for Reed.

able to adapt to new ways of working which is a distinct advantage in the business world. The general trend amongst SMEs currently is the desire to be working smarter. We know that to maintain that competitive edge companies must look to maximize their efficiency whilst keeping their costs in check but this is now more important than ever before. Companies are looking to achieve this by focusing on two main areas. Firstly, on how they can better manage the required skills and services and secondly, how they look to continuously improve - to work smarter and become smarter. Traditionally companies in the Middle East have hired additional permanent staff when they’ve found themselves busy and then laid off people when business slowed down. This practice is not only outdated and expensive it’s also counter-productive. Most SMEs don’t have the luxury of having huge in-house teams to support them each time they have a specific need and they don’t have the budget to hire

Focusing on areas such as leadership, management, HR, accounting and strategy, business coaches can help firms work smarter whilst increasing their profits, in most cases with less work.

someone on a permanent basis either. Forward-thinking SMEs are already addressing this by adopting a smarter way to work. They are obtaining the skills and services they need for their business as and when they need them. As consumers, we like to only pay for something when we are using it. Now, thanks to advancements in technology and the increase in people wanting more flexibility in their working life, a work-life balance is now possible. If business is quiet or the future is uncertain why have excess headcount affecting your

bottom line when you can use flexible resources to meet the demands of your business? Globally there is a pool (more like an ocean) of highly skilled and highly talented individuals who are keen to provide their services to clients in a much more ‘on demand’ way. These service providers are experts in what they do. Some are full-time freelancers whilst others have full-time jobs and are looking to supplement their income by working in their own time. Others are people looking to return to work after a break, but fitting it around their schedule is essen-

SME TRENDS

tial. Some are actually SMEs in their own right, able to provide a service to companies in a more outsourced way. The point is there are resources out there providing companies with an exceptional level of service without the costs associated with hiring a more permanent solution, (visa, holiday, gratuity, insurance etc.). Being able to have a scalable approach to specific resources is helping SME owners to better manage their headcount and their budget. Another trend within the SME sector is the increasing number of firms seeking some form of business coaching. Having a great product or a fantastic service is now not enough. The little extra that is needed comes from ensuring the knowledge and the level of competency within the business is being utilized to its maximum. Recog-

Intelligent SME

April 2017

nizing areas of weakness is great. We live in a world today where acknowledging and accepting areas of your game that need to be improved is encouraged and accepted. However, it’s those companies willing to take decisive action to address these weaknesses that put themselves in the best possible position to succeed. Of course, working with a business coach comes at a cost, and it can be perceived as an intangible cost, at least in the short term, but there are clear benefits. Focusing on areas such as leadership, management, HR, accounting and strategy, business coaches can help firms work smarter whilst increasing their profits, in most cases with less work. Again this falls under the trend of working smarter. In some SMEs it’s common to find people wearing many hats, holding down a number of roles,

trying to meet the demands of their business whilst keeping costs to a minimum. But this often leads to a number of issues such as overworked and stressed employees, low morale and sub-standard work, all of which can be avoided. While multitasking is, of course, a given within any small business, those at the helm have to realize the point at which they reach their maximum capability. Business coaching ensures you’re getting the basics right. It ensures you fully understand the nuts and bolts of business and the impact decisions will have on the organization. For example, it’s often better to outsource a certain piece of work or business function and have it done properly than it is to try and make it work with the stretched resources you have internally, consequently compromising on quality.

SME TRENDS

SMEs and Banks : The Need to Build an Economy of Trust

TASNEEM LAKDAWALLA emphasizes on the importance of trust and transparency between SMEs and banks and why these two qualities are vital to building a healthy entrepreneurial community in the region.

ccording to Dubai’s Department of Economic Development, SMEs represent 95 percent of all firms registered in the emirate of Dubai, 42 percent of the labor force and 40 percent of the emirate’s GDP. As Sami Al Qazi, the DED’s Director-General, says, SMEs play “a critical role in achieving and fostering overall development across diverse economic sectors.” As we all know, Dubai is not a true microcosm of the broader MENA region – but it does see itself as a harbinger of the future. So it may seem strange that a key finding from KPMG’s

UAE banking perspectives, launched last month, should be that: “Trust and transparency are keys. Despite economic headwinds, these fundamentals, combined with continuing government support, better risk profiling by banks and more robust approaches to core business planning and cash generation, will continue to drive broader economic participation and success through 2017.” How can SME owners and their lenders learn to trust each other again? One answer to that comes from the central premise

SME FINANCE

TASNEEM LAKDAWALLA is a Partner with KPMG in the UAE and is based in Dubai. She works with a wide range of financial sector institutions and SMEs, that lends her a unique perspective on the issues faced by the SMEs in the region.

of our recent thought leadership: having got many of the basics right, banks are now focusing on getting the balance right – and trust is a fundamental part of that balance. But trust, as SME owners will know, can be a double-edged sword. There are certain things that position the UAE as the unrivalled SME growth center for MENA. You can say this is the right place for the right people with the right ideas. But it is certainly true that there are a number of continuing challenges. One of those is the ongoing working capital challenge. Most of the UAE’s SMEs are small, rather than medium sized. This makes them agile and responsive to market demand, but it can also mean that they are more susceptible to working capital issues. It means that their balance sheets are more likely to be significantly impacted by delayed settling of invoices. And it means that SME owners are much more likely to have to depend on non-traditional credit sources to bridge credit difficulties. If banks are unwilling to lend to SMEs and their owners,

Intelligent SME

April 2017

and government largesse has been somewhat restricted by a lower oil price, what can be done to support this vital sector of the economy? What can be done to bridge a critical divide? Let’s look at the bare bones of the relationship between SME owners and their banks. A key principle of responsible banking was, is and will continue to be, know your customer. In an anti-money laundering context, KYC has all kinds of complicated connotations. But from the point of view of wanting to develop meaningful relationships between a lender and a loanee,

KYC means understanding your customer’s profile, industry and business. It means, wherever possible and necessary, setting up face-to-face meetings. And – at its most basic – it means lending based on a clearly understood ability to recover the loan. SME owners can be indignant when asked whether they are a ‘good risk’. Even with the new bankruptcy law, which should encourage SME owners who might otherwise be tempted to ‘skip’ to try to restructure their debts and save their businesses, SME owners can be tempted to see themselves as more sinned

against than sinning. But maybe it is time owners looked at the relationship between the banks and their creditors through a banker’s pince-nez. SMEs – for the reasons we have already seen – are more likely to fail than larger businesses. Entrepreneurs, by their very risk-accepting nature, are more likely to be unsuccessful than they are to succeed. Yes – of course there are many examples of small and medium businesses that have soared into the top echelons of business. But most SMEs are only relative successes – small businesses tend to remain small. The issues arguably don’t only lie with SME owners. There are UAE banks that have struggled with the entire SME customer journey. From onboarding through monitoring to the end of a banking relationship, banks need to understand not only what SME owners are looking for but also the risks they face – and therefore expose the lender to. While banks must interact with their customers more regularly, SME owners may want to be more honest about their current and future circumstances. There may also be a role for governments, who need to facilitate growth and investments, creating the necessary environment to allow SMEs to grow. Most industry observers can identify common challenges for

SME owners: significant setting up costs, the hunt for decent talent and a growing reluctance for banks to lend. However, there are reasons to be optimistic. Although VAT is likely to be introduced in the first quarter of 2018, the initial rate is low enough that it is unlikely to deter the entrepreneurs which are such a vital part of the economic picture. Non-performing loans have increased slightly, but not by as much as was initially expected – perhaps possibly in part due to the efforts of the UAE Banking Federation and others to work together with SME owners facing up to the consequences of poor decisions. The oil price, while unlikely to breach the US$100/barrel mark for some time to come, has stabilized and stabilized at a level where there is significant profit for many MENA producers. The UAE, having invested significantly in its infrastructure over the last 40 years, now boasts unrivalled road, sea, air and telecommunications networks – proven value additions that will, in and of themselves, generate opportunities for wealth and job creation. Expo2020 is on the horizon and the considerable amounts of public and private investment that have been announced are likely to have a positive effect on both the financial services sector and the private sector. The hospi-

While banks must interact with their customers more regularly, SME owners may want to be more honest about their current and future circumstances.

tality sector, a key contributor to the UAE’s ongoing efforts to diversify the national economy away from oil, offers a wealth of untapped opportunities. And that optimism is beginning to be reflected across the economy according to the Emirates NBD/ IHS Markit Purchasing Managers Index (PMI) published on 4 April, the non-oil PMI climbed to a 19-month high of 56.2 in March, up (even if only marginally) from 56.0 in February. What makes the difference? Honesty, trust and transparency – and these are the traits we will need to see from both SME owners and their bankers as we move towards the next stage of the UAE’s economic development.

SME FINANCE

Global Fintech Investment ($billions) 2012-20161

of fintech investment originates from the Middle East3

$23 Billion

Less than 1%

Peer to peer lending

2012

2013

2014

2015

2016

directly connects business looking for finance with investors

More than $300 billion Peer to peer lending forecast to be delivered by 20202

Types of Fintech

Peer to peer lending

Mobile payments

Blockchain systems

Cloud services

Trading platforms

Digital banks

Sources: 1. Accenture and CB insights data, 2.MorganStanley-Can P2P Reinvent Banking?(2015), 3.Fintech week report 2016

Intelligent SME

April 2017

REASONS

TOP

STARTUPS FAIL

TodAY's ENTREPRENEURS TIPTOE THROUGH A MINEFIELD OF POTENTIAL PROBLEMS THAT COLD CRIPPLE THEIR BUSINESSES How do you know the right move for your company? Watch out for these top 5 mistakes to avoid costly missteps

Your product doesn't have a market. Identify a market need before creating a solution. Building a product and then looking for a target customer is a recipe for disaster - & zero revenue.

Your resources ran dry. Time & money aren't inﬁnite resources. Use them eﬃciently & wisely.

You'rE YYou Yo ou not working with the right people. rri

42% 29% 23%

Hiring brilliant people won't get you anywhere if they can't work well together. Build a team with complimentary skills & perspectives.

You'rE outmatched. Don't obsess over competitors, but don't ignore them, either. Even if your product is superior, a ﬂowed user experience & sluggish time to market can kill your startup.

You'rE outmatched. Are you priced too high - or too low? Find the sweet spot by learning why customers chum: do they say the product doesn't justify its cost? Or complain about usability instead?

19% 18%

INFOGRAPHIC

S U C C E S S I S A D E S T I N AT I O N

H AV E YO U A R R I V E D ?

WATCHES YACHTS DESIGNER JEWELLERY BOUTIQUE REAL ESTATE GADGETS EXOTIC DESTINATIONS FINE DINING

Music to the Ears

mp up your home entertainment with the new Wrensilva Loft Sonos Stereo Console. Made out of North American walnut, the Loft combines a sleek design with a Wrensilva amp pushing 300 watts per channel, a fully decoupled belt-driven turntable, a 3.5mm jack, and Sonos compatibility, allowing users to stream their records directly to the speaker system. The Loft is available for purchase as a standalone unit; and for users who donâ&#x20AC;&#x2122;t have Sonos, Wrensilva also offers the Loft as a complete package with matching Wrensilva Monitor speakers and included welded steel speaker stands. The Wrensilva Loft is available in two color combinations â&#x20AC;&#x201C; white/walnut and black/ walnut.

RARE & FABULOUS

Tribute to David Bowie

aymond Weil collaborates with the David Bowie estate to celebrate the genius of the legendary musician - David Bowie. The brand has chosen its free-spirited ‘freelancer’ to create the Limited Edition freelancer ‘David Bowie’ timepiece. Its 42 mm diameter case contains a dial resembling a vinyl record clearly featuring some of the most emblematic design cues of the British artist. Amongst the key design features, the pop art logo designed by Andy Warhol makes its mark on the dial of the David Bowie Limited Edition. Produced in a 3,000-piece limited, numbered series, the freelancer “David Bowie” beats to the tempo of a mechanical self-winding movement that appears beneath a portrait of David Bowie – printed on the sapphire of the watch’s case-back.

Intelligent SME

April 2017

Leader of the Race

he Porsche 911 GT3 has always been an unadulterated sport car; however the new 2018 model edges out the competition further. The primary update has been the naturally aspirated 4-liter flat-six engine like the one found in the 911â&#x20AC;&#x2122;s motorsport variants, the RSR and GT3 R. Its engine draws a maximum output of 500 horses (generating 339 ft lbs of torque), the power sprint from zero to 60 mph takes only 3.4 seconds and tops out at 197 mph. A 6-speed manual alternative adds 0.5 seconds to the above-mentioned rate of acceleration, and shaves the vehicle's overall weight to 3,116 pounds â&#x20AC;&#x201C; a 37-pound reduction. An aerodynamically fashioned spoiler and fascia at the front, and a carbon-fiber wing, exhaust air vents, and a new diffuser at the back help the car zoom through the air.

RARE & FABULOUS

A Lifestyle of Travel

andcrafted in Italy from exquisitely polished Military Khaki leather, the Windham Travel Bag from Gurkha is the perfect weekender bag with strong, minimalist design. Spacious interior cabin gives you the ideal packing space for a long weekend getaway. Its strong dual top handles and adjustable shoulder strap make it easy to carry and the cotton twill lining contributes to the safety and sturdiness of the bag. Gurkha leather is never pretreated to remove any flaws as they are made from the most naturally flawless hides available. Likewise, its signature solid brass hardware and trademark stitching process ensure that the Gurkha bags deliver an unparalleled owner experience and lifetime of use.

Capturing the Change

t less than half the weight of a conventional digital medium format camera, the mirrorless X1D from Hasselblad is a game changer in the world of photography. The camera boasts a 2.4 MP electronic viewfinder for bright, crisp viewing even under difficult lighting conditions. It can capture up to 14 stops of dynamic range, allowing for unprecedented detail â&#x20AC;&#x201C; from the deepest shadows to the brightest highlights. By opting for a mirrorless design, the brand has been able to take its 50MP CMOS sensor and pack it into a footprint smaller than most full frame 35mm cameras. Inspired by the iconic design heritage of Hasselblad, the camera is ergonomic and compact, offering a handling experience unlike any other.

Intelligent SME

April 2017

RARE & FABULOUS

Global Innovation Summit 2017

27th September 2017 Jumeirah Beach Hotel, Dubai

The Future is Now!

DON’T MISS THE BIGGEST INNOVATION CONFERENCE

Social Innovations

Smart Cities

To register, visit www.innovationsummit.ae

Internet of Things (IOT)

Digital Ecosystems

Disruptive Technologies

Why Attend? Global Innovation summit provides an unparalleled immersive experience and a knowledge sharing platform for networking, knowledge-sharing and discussion with senior decision makers. Bringing together key stakeholders integral to the business community, the summit provides you an opportunity to• Gain insight from industry experts as they deliver keynote addresses

• Exchange ideas, challenges and opportunities during panel discussions • Capitalize on the opportunity to make lasting connections, share best practices and network

with potential customers and suppliers during the breaks • Learn from industry stakeholders as they share their success stories through case study

presentations • Access to a host of solution providers at the expo

For sponsorship & expo enquiries call us on 0504278287 or email us at response@spiholding.net