In this release of Weekly Focus APAC: Singapore companies believe that poor data management leads to loss of opportunities; let China outperform other countries; GOJEK brings doctors to drivers anywhere and anytime; Lazada looks to boost merchant access with cross-border sales boom ; The format of the S4M announcement aims to increase visits within the store; and the ant reveal a platform to help banks in digital transformation.
Singapore companies believe that poor data management leads to lost opportunities
99% of Singaporean companies believe they have lost valuable opportunities due to ineffective data management; 53% report the challenges they face in data management and have hindered their ability to make strategic decisions.
About 45% said they lost new revenue opportunities because they had an inefficient data management and 43% said they had raised their operating costs, according to a study by market researcher Fanson Bourne. The survey, commissioned by Veritas Technologies, a data management vendor, involved 1,500 IT decision makers and data managers from 15 markets, including China, Australia, Japan and South Korea.
Another 29% said they suffered from unsatisfied customers because of their ineffective data management.
Globally, 39% said inefficient data management led to higher operating costs, while 35% said they missed new revenue opportunities as a result.
In fact, employees lose an average of two hours per day in search of data, reducing the workforce by 16%.
Of respondents in Singapore who invested efforts to improve their data management, 69% said they were able to cut costs and 68% said their employees were more productive.
About 45% of their peers who failed to solve data management challenges themselves described themselves as less active; 43% said they were less competitive in the market.
"Companies that invest in leveraging their most important digital assets – data – will deliver greater efficiency and productivity to the employee and will therefore gain valuable competitive advantage," said Chenna Chin, Director, Veritas, Singapore.
"Many organizations are still facing daily uncertainty about where their data are located and whether they are protected, unless they are addressed, the result will be agility, vulnerability to security threats, declining productivity and corrupt decisions at the highest levels."
Let China outperform other countries
Digital technology has enabled China's e-commerce ecosystem to grow exponentially, becoming the largest market in the world and surpassing countries like the United States in terms of mobile payments.
Chen Long, who heads the research arm of Alibaba Academy, said digital technology has a low threshold for adoption, requiring little technical knowledge, whose growth was independent of the level of economic development in a country.
Chen said digital information was "non-competing", allowing many people to consume goods and services simultaneously and at almost no cost.
He pointed out that these characteristics had a significant impact on overall growth, since, unlike previously, the country's economic level was not a determining factor in the speed and adoption of technology adoption.
Referring to China as a good case study, he said the country's e-commerce market grew to become the world's largest market in less than a decade and was the main engine of its overall economy.
In addition, its 1.2 billion mobile phone users helped create $ 22 trillion (£ 16.85 trillion) mobile transactions in 2017, up from $ 15 billion (£ 11.49 billion) in 2011.
Chen said: "This is more than 100 times the payments of mobile phones in the US This shows that China, although it is still a middle-income country, has made tremendous strides in the adoption of digital technology."
"This has enabled more women to become pioneers," he said, adding that more than half of Taobao's 10 million women-run stores.
In addition, digital technology has enabled Alibaba's Ant Financial to evaluate the digital fingerprint of the person using data analysis tools and determine their creditworthiness, in real time, he said. He noted that this has enabled Ant to reduce the rate of fraud loss to one in every million people.
According to Chen, in the past three years, Alibaba's financial arm has approved additional lending to more than 8 million small and medium-sized enterprises in China.
GOJEK brings doctor to drivers anywhere and anytime
The Indonesian horseback riding service provides telemedicine as part of efforts to allow its drivers in Singapore to access a licensed doctor wherever they are, at any time.
In addition, they will be able to deliver medicines to their home within three hours.
GOJEK said it has partnered with the on-demand video developer, Singapore-based Doctor Anywhere, to allow active GOJEK drivers to access free distance consultation. The Indonesian company said it would cover all subscription fees.
Drivers will have to download the Doctor Anywhere application and register an account to access the service, where they can choose to call the video with a doctor or book a later appointment. They can also have all medical documents via email to them.
Last year GOJEK handled more than 9 billion US dollars (£ 6.89 billion) in annual growth transactions across five markets in Southeast Asia, where it currently operates in more than 200 cities. As of December 2018, it has more than two million registered driver partners, 400,000 business partners and 60,000 service providers on its platforms.
Lazada looks to enhance access to the merchant with the booming sales across borders
E-commerce seeks to expand access to international brands and traders on its platforms amid booming cross-border sales, which have quadrupled in the past three years.
These efforts will include the inclusion of "high quality" international brands and sponsorship of the top 300 cross border vendors in each of the six markets in which Lazada operates: Singapore, Thailand, Vietnam, Indonesia, Malaysia and the Philippines.
The e-commerce platform said that this will enable selected brands to grow their businesses and gain access to benefits such as increasing the visibility of their products as consumers browse and scrutinize the Lazada.
The total GMV of the cross-border location category increased 4.6 times between 2016 and 2018, he said, adding that he also plans to renew this product selection, which was first launched in 2013.
The "cross-group" product, known as the "global group", is called the algorithm-based search function for product filtering and feature sellers who provide high-quality, high-quality products. The goal here was to enable Lazada customers to find them more easily.
For further assistance to cross-border sellers, the e-commerce operator said more opportunities will be provided to these merchants to improve customer engagement and service through campaigns and tools for sale more effectively at Lazada. For example, sellers will receive a weekly report on the most searched words and items on the site.
The S4M ad format aims to increase in-store traffic
The Ad-tech S4M vendor launched a new ad format called the "Smart Forward-based" redirect to provide retailers with a way to drive additional in-store traffic.
The advertising platform, called "traffic to the store," allows shoppers to download a card containing a promotion or invitation from the advertiser and store them directly in their mobile phone portfolio. The ad format supports Google Android and Apple iOS.
It can be designed to provide event tickets, promotions, discounts and sales reminders. Once saved in a mobile wallet, the ad will then launch a site-based notice to alert consumers to the offer available as they travel nearby the store location or venue.
The ad format also allows advertisers to pay notifications, based on a predetermined date and time, from mobile phone portfolio apps to consumers.
S4M says: "Notifications are paid directly from the user's portfolio application, which acts primarily as brand-owned media to re-target users who have interacted with their ads.Non advertisers can effectively engage consumers by strategically communicating communications at a particular time or place to increase opportunity Increased in-store traffic and more effective ad experiments.
Ant reveal a platform to help banks in digital transformation
Alibaba's Ant Financial revealed a banking platform that it says was built to help financial institutions become "customer-oriented" and address digital challenges, such as distributed development and accounting liquidation.
In partnership with Jiangsu-based Hoperun IT, the distributed core banking platform (DCBP) was another extension of the Ant platform's platform as-a-service introduced in September.
According to Alibaba, many "banks" have used DCBP to drive their digital transformation, including MYbank, which has built its distributed cloud capabilities, including flexible expansion and slim development within six months.