The Monetary Authority of Singapore (MAS) announced this week that eligible non-bank financial institutions (NFIs) will have direct access to the banking system’s retail payments infrastructure from February 2021.
This applies to non-bank financial institutions that are licenced as major payment institutions under the Payment Services Act, they will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow.
FAST is an electronic funds transfer service that enables customers of participating entities to transfer Singapore dollar funds from one entity to another instantly.
PayNow is an overlay central addressing service that runs on top of the FAST payment system. PayNow allows consumers and businesses to make instant payments across accounts using a proxy such as a mobile number, NRIC/FIN number, or Unique Entity Number (UEN). FAST and PayNow is also available 24/7, 365 days of the year.
Direct connection to FAST and PayNow will enable users of NFI e-wallets to make real-time funds transfers between bank accounts and e-wallets as well as across different e-wallets. Currently, most e-wallets require the use of debit or credit cards to top-up funds, and funds transfers between e-wallets are not possible.
Mr Ravi Menon, Managing Director of MAS said, “Direct access by NFIs to FAST and PayNow closes the last-mile gap in Singapore’s e-payments journey. Consumers who may not have ready access to debit or credit cards to fund their e-wallets will now have the option to do so directly through their bank accounts.”
“Our vision to enable complete real-time payments interoperability will now become a reality. Adoption of e-payments will become even more simple for individuals and businesses. MAS thanks the members of the DFWG for their spirit of partnership that brought to fruition this major milestone for e-payments in Singapore.”
Businesses that partner any of the 23 FAST or 9 PayNow banks, or e-wallets that have traditionally been closed-loop ecosystems will soon be able to receive real-time payments from other users of e-wallets or mobile banking applications that will be joining FAST or PayNow. This will enable businesses to access a larger market of consumers than before for receiving e-payments instantly and seamlessly.
NFIs will be able to connect directly through a new Application Programming Interface (API) payment gateway developed by the Direct FAST Working Group (DFWG), with guidance from the Singapore Clearing House Association (SCHA) and The Association of Banks in Singapore (ABS), which govern FAST and PayNow respectively.
The API payment gateway is better geared to the technology architecture of banks and NFIs, and can also be used by other banks and NFIs in future.
The Institute for Digital Molecular Analytics and Science (IDMxS), which aims to promote the science of analysing biological molecules (biomolecules) using information technology and data science, was recently established by Nanyang Technological University, Singapore (NTU Singapore). This could pave the way for real-time environmental or health data monitoring and analysis, like how real-time traffic data can be obtained on mobile devices.
IDMxS, NTU’s newest national Research Centre of Excellence (RCE), is funded with a total investment of over S$160 million over 10 years, with the majority coming from NTU and the National University of Singapore and S$94 million coming from the Singapore Ministry of Education.
Digital molecular analytics, a novel scientific discipline that analyses individual molecules to discover, identify, and measure biomolecules with extraordinary accuracy, is at the core of the work done at IDMxS.
Such a science will open many new areas of research, such as the creation of diagnostic testing capabilities that may then inspire the creation of new technologies and commercial spinoffs, including blood testing kits that can generate findings instantly using nothing more than a smartphone camera.
The interdisciplinary centre is anticipated to house 100 full-time researchers and employees with backgrounds ranging throughout the spectrum of engineering and science, from optics, computer science, and artificial intelligence (AI) to biology, medical technology, and chemistry.
Postgraduate students from NTU will have exceptional chances for interdisciplinary education and training that spans the molecular sciences and information technology through the graduate programme of IDMxS. More than 30 PhD students will receive support from the Centre, four of whom have already begun their studies. As clinical diagnostics become more digital, IDMxS will also create continuing education programmes aimed at developing and modernising the healthcare workforce.
By fusing the fields of biology and information technology – which have each recently undergone revolutionary changes – IDMxS will create the new science of digital molecular analytics. The objective is to develop tools that can track environmental data, such as air and water quality, and health information, like viral infections or molecular signatures that signal the existence of a disease, in real-time. To develop innovative solutions for issues with health, sickness, and environmental monitoring, this process begins with the development of fundamental science.
The ability to simultaneously gather a variety of data types from a biological sample and use tools like AI and machine learning algorithms to analyse and interpret the enormous volume of data that would otherwise be impossible for humans to make sense of is at the core of IDMxS’ digital molecular analytical strategies. The research centre intends to someday spin out solutions like widely used software using digital molecular analytics.
Moreover, making blood sample test kits is one potential use for digital molecular analytics that IDMxS is investigating. The goal of this research is to create a tool that can recognise the various chemicals responsible for illnesses, infections, and diseases.
This suggests that a physician might someday be able to take a blood sample, analyse it with a smartphone camera, and obtain an accurate, real-time reading next to the patient at the doctor’s table. A similar idea might do away with the necessity for additional time-consuming laboratory tests.
The extensive surveillance of illnesses spread by insects like dengue and malaria is another project that is now under development. Researchers can one day create an imaging system that can swiftly detect and monitor dengue among the mosquito population by recognising and analysing the chemicals that make up the dengue virus. Such studies might also be used to track other airborne infections and infectious diseases, in addition to insect-borne diseases that affect urban health.
Taiwan Premier Su Tseng-chang announced at a cabinet meeting that Taiwan’s contract chip manufacturing firms now have a 63% share of the global market. Furthermore, Taiwanese companies handle 58% of all global integrated circuit packaging and testing. As a result, Taiwan semiconductor manufacturing has emerged as a critical player in global supply chains.
Taiwan’s semiconductor industry has risen to first place in the world in chip manufacturing and integrated circuit packaging after four decades of hard work. Taiwan also ranks second globally in integrated circuit design, with a 22% market share. Furthermore, the domestic semiconductor industry is collaborating with foreign partners to serve global clients, demonstrating that Taiwan is an essential and irreplaceable partner due to the world’s most efficient and difficult-to-duplicate production model.
The achievement began three years ago when Taiwan took advantage of the global scenario. Taiwan persuaded related industry operations to relocate from China to Taiwan. Premier Su mentions the effort that resulted in three years of economic success.
According to recent data from global indexes, the premier also stated that Taiwan ranks among the top countries in the world on criteria such as investment environment and free democracy, with the country ranking among the best in Asia in many categories. These high marks enforce even more confidence in international partners.
Nonetheless, Su emphasises the importance of Taiwan remaining vigilant. The government is developing response measures to allow domestic chip manufacturers to maintain their competitive edge and vital positions in the industry. Premier Su stated that the government is consulting with the industry to develop a future development strategy. The strategy provides more generous tax incentives, encourages R&D investment, and eases restrictions on talent recruitment, in addition to delivering Taiwan-based semiconductor manufacturers with a high-quality investment environment, including the provision of water, electricity and land.
The government’s comprehensive support for the domestic semiconductor industry will enable Taiwan to maintain its lead in advanced technology and efficient fabrication methods, secure a substantial competitive advantage, and continue contributing to the world. The country will also adhere to international norms while reassuring allies. Taiwan will maintain this stance in the future, displaying critical strengths to the world and being a team player who inspires international trust.
Meanwhile, Taiwan and Slovakia recently signed three Memoranda of Understanding (MoUs) in Bratislava, pledging to increase bilateral trade, startup exchanges, and talent-nurturing collaborations in the semiconductor sector. The Memoranda of Understanding were signed by the Taipei Importers and Exporters Association and the Council of Slovak Exporters, Taiwan’s Startup Terrace and the Slovak Business Agency, National Sun Yat-sen University, and the Slovak University of Technology in Bratislava.
The MoUs were signed during the second session of the Taiwanese-Slovak Commission on Economic Cooperation, which was attended by a Taiwanese delegation led by Deputy Foreign Minister Tsai Ming-yen. During the meeting, Tsai and Peter Gerhart, Slovak State Secretary of the Ministry of Economy, discussed ways to expand bilaterally.
The Infocomm Media Development Authority (IMDA) announced the launch of a S$5 million Virtual Production Innovation Fund to support the local media industry in developing the capabilities needed to harness virtual production technology to maintain the local media industry’s competitiveness as the international partner of choice to create premium IP.
To enable the camera to capture actors and visual effects in real time, virtual production technology uses LED panels to produce realistic background landscapes for television or movie sequences driven by video game engines. The site, road closures, location costs, permits, weather, set construction, and space rental will no longer be necessary for production.
With the help of technology, Singapore has a rare chance to get over some of its physical constraints, like the lack of suitable locations for on-location filming and room for large sets.
The ability of the storytellers to reproduce historical sites or any other environment will allow them to generate content that was previously impossible. This will revolutionise the creative process of storytelling.
The adoption of virtual production by the media sector is further encouraged by the strong signals emanating from international media giants that this technology will be widely employed in the creation of movies and television shows and will become the standard in the next years.
To strengthen capabilities in virtual production and ensure that the media companies and talent can keep up with international production methods to remain competitive, IMDA will pursue a two-pronged strategy to prepare the media sector for the future.
The National Film and Television School (NFTS) in the UK has collaborated with IMDA to adapt the school’s Certificate in Virtual Production course to the requirements of the sector to train media professionals to use this technology.
From December 2022 to April 2023, fifteen professors, trainers, and media professionals from Singapore will participate in virtual lectures and undergo hands-on training at NFTS’s virtual production facilities.
Over the course of the following 12 months, several masterclasses and workshops given by professionals from the business will be offered. A Singapore-based firm that specialises in developing immersive experiences, held a display to exhibit how virtual production can enhance imaginative storytelling.
Hands-on demonstrations will be given by guest speakers from virtual production leaders. They will discuss and explore best practices in the workflow to inventive ways to use different technology in storytelling.
Local businesses can also test out virtual production to realise their creative ideas for brief pieces of content, such as music videos, short films, and brand advertisements, among others. Companies can submit their suggested content concepts from now until February 15, 2023.
The capacity to best utilise virtual production technologies to realise a project’s creative vision will be taken into consideration while evaluating proposals.
Additionally, IMDA is working to organise an industry challenge with an internationally renowned gaming company. This challenge will encourage organisations to experiment with and use the cutting-edge real-time 3D creation tool developed by this gaming company. Currently, the aforementioned tool powers globally popular video games.
Teams whose concepts are shortlisted will receive personalised coaching and training from the gaming company. In addition, they will receive prize money from IMDA to assist with content creation.
Since virtual production technology has advanced in recent years, the country is now able to produce visual effects in real-time without building actual sets, thereby overcoming the constraints of scale, complexity, and space.
To strengthen the nation’s local industries and reduce its reliance on imports, Philippine President Ferdinand R. Marcos Jr. invited enterprises to engage in digitalising processes as well as other crucial areas including education, skills training, and research and development.
The president of the Philippines stated that imported goods continue to be the main cause of inflation and that import substitution must be considered. For its part, the Philippine government is dedicated to accelerating economic growth with the broader objectives of reducing poverty and reviving job creation.
Notably, the government works to hasten the nation’s economic expansion by reducing travel and movement restrictions, even more, enacting economic reforms, and fostering stronger economic ties with trading and investment partners.
The President also emphasised the efforts being made by the government to increase the ease of doing business, public-private partnerships, and bureaucratic efficiency through the development and digitalisation of information and communication technology (ICT).
The Chief Executive said that the Philippine economy is on pace to sustain its good economic performance and meet the government’s growth target of 6.5 to 7.5 per cent for this year as it continues to recover from the pandemic’s negative effects. Inflation must be controlled, the country’s growth rate appears robust, the peso is strengthening slightly in comparison to other currencies, and the unemployment rate is reasonable given the circumstances.
The Chief Executive anticipates that the meeting will aid in creating new economic prospects, reviving the industries that have been most negatively impacted by the pandemic, as well as addressing upcoming difficulties.
Meanwhile, one of the first Intergovernmental Relations (IGR) entities established and constituted under the Bangsamoro Organic Law, the Intergovernmental Fiscal Policy Board (IFPB), recently had their meeting.
The primary role of the IFPB is to address revenue imbalances and variations in the Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) financial demands and income-raising capability. The body will specifically suggest tax-collecting strategies and changes to fiscal policy for the BARMM.
THE IGFP discussed 17 issues on the agenda, including the BARMM’s tax system’s digitalisation. Assuring solid financial management and improved bureaucratic efficiency through digital transformation is in line with the administration’s 8-Point Socioeconomic Agenda.
To further this objective, IFPB pledges to build and uphold positive and constructive relationships to meet BARMM’s financial demands and strengthen the region’s potential for revenue-raising. In addition to the IFPB, the Intergovernmental Relations Body (IGRB), which is made up of officials from the national and Bangsamoro administrations, had its 12th meeting and press conference to talk about issues pertaining to the local development of the BARMM.
In response to the difficulties posed by the Fourth Industrial Revolution (Industry 4.0), the Technical Education and Skills Development Authority (TESDA) has reaffirmed its strong commitment to keep developing its programmes and services.
To adapt and alter its programmes to the increasing needs of the industries, TESDA is constantly trying to improve its systems and procedures. And this is where their partner industries step in, assisting them in creating training programmes that will equip graduates with skills relevant to their business.
The organisation emphasised how quickly technology is advancing in the workplace. Since tech-VOC training encompasses the study of technologies and allied sciences as well as the learning of practical skills, Industry 4.0 has a direct impact on this field. To create a workforce with competencies appropriate for the industry, the agency urged people in the education and business sectors to collaborate closely.
The Singapore Tourism Board (STB) and Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS) released the MICE Sustainability Roadmap, which outlines specific goals and plans for raising sustainability standards throughout the MICE sector in Singapore over the coming years.
The Meetings, Incentives, Conventions, and Exhibitions (MICE) industry is a type of tourism travel in which groups of people are brought together for a specific reason, usually well in advance. On the other hand, the MICE market refers to a subset of people who plan, arrange, and facilitate conferences, seminars, exhibitions, and other events.
Part of STB’s overarching plan to develop a sustainable tourism sector is the use of such roadmaps, which direct businesses in the sector to achieve specific sustainability goals. Following the launch of the Hotel Sustainability Roadmap earlier this year, the MICE Sustainability Roadmap is the second such project.
The Singapore Green Plan 2030 and the Sustainable Development Goals of the United Nations (UN) serve as the roadmap’s guiding principles. Three goals are listed in the MICE Sustainability Roadmap to help Singapore become one of the most environmentally-friendly MICE destinations in Asia Pacific:
- By 2023, create a set of industry-acceptable sustainability standards with the goal of having them recognised internationally by 2024.
- For all six purpose-built MICE venues and 80% of SACEOS members to get internationally or nationally recognised sustainability certification, or both, by 2025.
- To attain net-zero emissions by 2050 in accordance with the country’s net-zero aim, the Singapore MICE sector must first track waste and carbon emissions by 2023, reduce waste in line with the Singapore Green Plan by 2030, and reduce waste overall by 2050.
The MICE Sustainability Committee (MSComm), established by STB and SACEOS in August 2022 to advance sustainability capabilities and create awareness of sustainability initiatives and best practices, will help the industry adopt sustainable practices and meet these goals.
The dedication to sustainability follows a robust MICE rebound in the wake of Singapore’s borders being reopened in April this year and a rising desire for environmentally friendly business travel. More importantly, the industry is aware of how crucial it is to lessen the environmental impact of MICE events.
With STB and SACEOS leading the charge and offering support as necessary to further develop a sustainable business events landscape in Singapore, the MICE Sustainability Roadmap will ensure that MICE players move forward in pursuing relevant and achievable sustainability goals that are tracked at appropriate milestones.
Meanwhile, OpenGov Asia recently reported that the Infocomm Media Development Authority (IMDA) of Singapore is working with a large American technology company to address climate change-related challenges and enhance the sustainability of digital technologies.
The cooperation aims to hasten the local and international development of software applications and solutions to assist businesses in using their resources more efficiently.
The tech giant and IMDA will exchange best practices, standards, learnings, and certification pathways for accurate measurement and reporting of carbon emissions resulting from software applications. Through this relationship, the nation hopes to speed up the application of the ideas and resources needed to create green technologies.
According to IMDA, Southeast Asia is well-positioned for the region to take the lead in digital sustainability. This collaboration will produce cutting-edge digital sustainability solutions that can be used by multinational corporations, bringing about positive change for the environment worldwide and ensuring a sustainable future for all.
The Ministry of Industry and Trade has concluded the National E-Commerce Week and Online Friday 2022 event. The first programme offered opportunities for enterprises operating in the fields of e-commerce and digital technology to introduce their products, services, and solutions to advance the country’s digital economy. The Online Friday 2022 event aimed to promote the sustainable growth of e-commerce and the application of solutions to boost domestic firms’ revenue.
An opening ceremony was held earlier this month in Ho Chi Minh, jointly organised by the Ministry of Industry and Trade, the Vietnam E-commerce and Digital Economy Agency, and the municipal People’s Committee. According to Duong Anh Duc, the Vice Chairman of the municipal People’s Committee, a Concentrated Promotion Month has been implemented in the city for many years with the participation of many businesses across the country. The programme is a part of the Ministry of Industry and Trade’s goals to stimulate domestic consumption, expand the domestic market, and support production and business.
Along with the programme, the National E-Commerce Week and Online Friday 2022 provided domestic consumers and international visitors with opportunities to have enhanced shopping experiences in the online environment during the big year-end shopping festival. The Ministry of Industry and Trade worked with the largest affiliate marketing platform in Vietnam to share and offer solutions to help businesses use technology to increase profits. Businesses were able to take advantage of and optimise support tools and features on e-commerce platforms, expand access to a wide range of customers and raise online revenue.
As of 29 November, the second Concentrated Promotion Month (which will run from 15 November to 22 December) attracted the participation of 3,326 businesses with 6,981 promotions offered. The first Concentrated Promotion Month (which ran from 15 June to 15 July) witnessed the participation of 151,298 firms and 5,488 promotion programmes.
In Vietnam, the use of digital platforms, e-commerce sites, social networks, and specialised applications has increased sharply, and the country is expected to become the fastest-growing e-commerce market in Southeast Asia by 2026. Global e-commerce is estimated to grow by 28.4% annually between 2020 and 2027. Meanwhile, revenue from business-to-consumer (B2C) e-commerce in Vietnam is expected to increase by over 20% each year. As OpenGov Asia reported, over the last ten years, e-commerce in the country has continually grown by 25-30% while its size increased to US$ 13.7 billion in 2021. It has made up over 7% of the total flows of consumer goods and services and become an important distribution channel, in addition to traditional ones.
Despite the pandemic’s impacts in 2020 and 2021, e-commerce has still been flourishing in Vietnam. It is forecast to post double-digit growth this year to rank third in Southeast Asia. In fact, the pandemic fueled a significant uptick in e-commerce, which recorded a 16% growth last year. Although the pandemic drove the e-commerce market, it slowed down economic growth, which was the lowest in 30 years last year (2.58%), with key services sub-sectors experiencing a downturn. Data from the General Statistics Office showed that retailing and wholesaling declined 0.21% year-on-year, causing the economy to decrease by 0.02 percentage points. Warehouse and logistics dropped by 5.02% and lodging and catering services by 20.81%, leading to a drop in contribution by 0.3% and 0.51%, respectively, to the GDP growth.
Meanwhile, the share of turnover from e-retailing to last year’s total retail sales of goods and services was 7%, a year-on-year rise of 27% from 2020. E-retailing is forecast to surge 20% this year to US$ 16.4 billion, compared to US$ 5 billion in 2015.
Communication remains the backbone of organisational operations and has been bolstered by cutting-edge technology. Many organisations have migrated from Public Switched Telephone Networks (PTSNs) to cloud communications, which resulted in faster and more efficient communications with vastly increased reach.
Cloud communications remain the primary solution for meeting the growing demand for effective organisational communications in the hybrid workplace. It is agile enough to adapt to ever-changing business environments while keeping mission-critical business functions unified on all levels.
Organisations can place and receive phone calls using cloud calling from phones and any internet-connected device, including computers and tablets, from any location with an internet connection.
Cloud communications’ inherent capacity enables organisations to expand as needed without regard to geographical boundaries quickly. It makes it simple for organisations to scale up to accommodate changing needs. Less capital expenditure means expansion can be undertaken and completed more quickly, resulting in increased
These possibilities make businesses more accessible and responsive to customers. Having scalability and flexibility in communications regardless is a vast advantage irrespective of a company’s geographical spread.
The OpenGov Breakfast Insight with the Philippines’ top public sector leaders on 6 December 2022 at the Dusit Thani Manila provided the current information on the benefits of the most recent cloud communications technology that can greatly empower the nation’s public, education, financial services and healthcare sectors.
Intensifying the Cloud’s Role in Fostering Digital Transformation
The adoption and implementation of cloud-based strategies are currently used by businesses of all sizes to boost growth and profits, says Mohit Sagar, CEO & Editor-in-Chief of OpenGov Asia. Moreover, cloud technology has drastically changed how businesses communicate.
Cloud technology is bringing massive change to how various sectors of modern-day digital communities interact with each other. Cloud communications vendors allow businesses to delegate management of their IT infrastructure by taking on provisioning, switching, data storage and security responsibilities. The cloud’s cutting-edge features and functionality facilitate unprecedented staff collaboration and communication across time and space.
These changes have transformed the way people work where employees experience increased levels of productivity. With the cloud, people have the option to follow the traditional work model, a hybrid one, or a purely remote work model. Such possibilities for workers also translate to added advantages for employers with geographical boundaries; hiring only locally has become passé.
A hybrid or remote work setting makes cloud communications a necessity. Collaborative technology like cloud communications allows employees to transition or shift from one work model to another without losing productivity, effectiveness or efficiency. However, Mohit cautions, remote and hybrid models can still fail if they are not built on the right technology.
As shared by one of the attendees, their company did not experience any downturn when the pandemic hit because they were prepared for remote work. The experience of this company highlights that preparedness with the right technology enables an organisation to weather a black swan event.
Having workers functional in various locations amid an unexpected situation will prevent work disruptions. Moreover, a company gets empowered to collaborate with other groups and individuals regardless of their geographical location. Globalisation is further strengthened with cloud communications technology.
Cloud communications allow businesses to maximise resources by facilitating rapid deployment, enhanced adaptability and unlimited high-volume data sharing. Additionally, the safety measures built into cloud communication ensure compliance with privacy regulations.
Cloud security refers to the set of tools, protocols, and best practices used to keep cloud-based servers, apps and data safe. The first step in protecting cloud services is gaining an awareness of what must be protected and what parts of the system must be managed.
The development of the backend to guard against security flaws is the responsibility of cloud service providers, in general. Customers’ primary focus should be on establishing a secure service configuration, developing secure routines for using the service, and choosing a service provider who takes security seriously.
“Nonetheless, clients should also confirm that any end-user networks and hardware are properly secured,” Mohit advises.
Cloud security goals include protecting against malicious data theft on networks and storage, preventing data leaks caused by human error or carelessness, facilitating data recovery in the event of data loss, and limiting the impact of any data or system compromise.
Since the advent of cloud computing, conventional methods of protecting digital assets have undergone extensive development. Although cloud models improve efficiency, constant online access requires innovative safety safeguards. Compared to traditional IT models, a few key features set cloud security apart as a cutting-edge cyber protection option.
There have been major shifts in the macro business environment, says Nathan Guy, Zoom’s Phone Leader for Asia Pacific. There is a lot of pressure on businesses to improve productivity, to be flexible in the face of intensifying competition, and to be more productive to keep up with the ever-quickening pace of technological innovation and advancement.
With the global economy in shambles, the urgency has only increased. It will be impossible to solve these problems if customers, prospects and employees cannot communicate effectively.
Nathan pointed out that a generational shift is also occurring in the labour force. Remote work is becoming increasingly popular. They have also requested state-of-the-art tools and communication infrastructure to carry out their duties better.
When a new app or device is released, it adds another layer of complexity to a complicated process. Stakeholders, including employees, clients, and potential customers, have individual preferences and expectations regarding the manner, frequency, and location of business interactions.
Therefore, according to Nathan, many companies are selective in the ways they invest in improving internal communication.
They might do this in several ways, including staying up to date with systems already in use that is judged to be adequate, using built-in communication tools that are part of other software packages or investigating a variety of potential solutions. These plans aim to improve the company’s ability to spread the word.
Although these approaches provide more leeway, they also alter the dynamics between businesses and their prospective clients, employees and customers. Depending on their predicament, people are forced to switch between several potential answers.
In the event of a communication breakdown, the firm will inevitably fail. An essential trait of effective leaders is the capacity to chart a course for their people, providing a sense of purpose and direction even when difficult situations arise.
In Nathan’s opinion, organisations need to expand their communication strategies beyond the bare minimum and into the global scope. An enormous advantage in today’s unstable business climate will go to the company that can always make seamless connections to all stakeholders, regardless of location, device, or business activity.
To achieve this, as Nathan puts it, “You deliver a consistent and quality experience for all participants, making human connection effortless, and enabling rapid innovation to maintain relevance by combining the connection needs of the individual and organisation.”
By taking these measures, businesses may be able to better respond to their customers’ wants and needs, free up internal resources that were previously spent on communications management and expand their capabilities and agility.
The credibility of a company rises or falls with its communication strategies. Since employees, clients, and customers can do their jobs from anywhere, the channels through which the message is sent must be fit for the times, the resources, and the ever-changing need of organisations.
The failure of a session owing to dropped participants or bad audio and video is now considered unacceptable. Businesses must adapt to a more complex hybrid environment and ensure that all clients, regardless of location or condition, receive the same high level of service.
Nathan recognises that “business transactions become impossible” when communications are disrupted in today’s world. In solving communications needs amid disruptive situations, an unpredictable risk that has the potential to impede productivity for businesses also gets removed. The result is a continuance of operations and avoidance of deterioration or decline of productivity.
Zoom will shield businesses from communications breakdowns because its top-notch infrastructure was explicitly designed to prevent failures. Examining the root cause of problems is essential in giving lasting and effective solutions. In the case of communications strategy and technology for organisations, addressing various approaches made by organisations and guiding them to dig up the root cause will allow them to focus on the now without overly worrying about the future.
However, some users may be unable to fully participate due to severe audio and video quality degradation due to differences in network performance and bandwidth. This is a reality in the Philippines, where many areas still lack fast internet speed.
Zoom allows businesses to host effective meetings even in the face of significant packet loss. If you’re doing business on a global scale, having this kind of consistent network and infrastructure in every country is a must.
The complexity of communications is increasing. Now, besides travelling or working from home, “you have workers returning to the office, frequently in a hotel setting,” acknowledges Nathan.
During the pandemic, people are often left trying to balance ad hoc, piecemeal solutions developed as the crisis unfolded. As a result, three significant environments have emerged: at-home/in-the-office and on the go. A personal mobile phone, a videoconferencing method for in-person gatherings of a few people, and something else for more momentous occasions all fall under this category.
Nathan believes that both staff and customers will need to adjust to a new user interface. “Communication platforms are undeniably crucial to the success of hybrid teams.” A cutting-edge communications platform like Zoom could help increase output, expand possibilities, and reveal levels of employee engagement.
Fireside Chat: How to Prepare for the Transition to the “Cloud Culture”
According to Dr Jennalyn Raviz, Director, Management Information Service, Department of Transportation, when it comes to promoting, developing, and regulating a dependable and coordinated network of transportation and communications systems, the Department of Transportation (DoT) is the primary policy, planning, programming, coordinating, implementing, and administrative entity within the executive branch of the Philippines. “Transport by air, sea, rail, and highway are all included.”
Since multiple parties are involved and a hybrid structure has been established, maintaining consistency may prove difficult.
“The pandemic has become a motivator for us, and we seek secure communication across many platforms, which is why we use cloud communication,” says Dr Jennalyn.
Despite some reservations, cloud communications are the preferred method of meeting the growing demand for efficient organisational communications in today’s hybrid workplaces. With cloud computing and communications, businesses can quickly expand or contract to meet fluctuating demand.
Cloud computing allows workers to do their jobs from any Internet-connected device; it has the dual benefits of increased productivity and expanding the geographical scope of their operations.
Since the cloud facilitates remote work, organisations will gradually reduce their reliance on outsourcing. As a result of the use of the cloud’s effect of reducing in-office and staff expenses, businesses are now able to hire more full-time workers across the globe.
Dr Jennalyn highlighted that getting cloud is cost-effective. Additionally, cloud computing can be particularly cost-effective for organisations due to the improvement in workforce efficiency in addition to direct labour savings. “Cloud software deployment is far quicker than a traditional installation.”
Because of this, more employment possibilities can be made available to people in the area who possess the necessary skills. As the popularity of self-sufficiency rises, organisations can select from a greater pool of eligible candidates for a wider variety of positions.
More efficient teamwork is one of the main advantages of cloud computing. The advent of the cloud has had a profound effect on teamwork, and this transformation will continue so long as the cloud undergoes progress and improvement.
Improved communications, cheaper technology, and the ability for smaller organisations to cooperate with worldwide partners and expand their reach in the global arena are all possible because of the cloud’s ability to provide capabilities that were previously only available to major companies.
Dr Jennalyn believes that to have the greatest possible effect, digital transformation must occur in tandem with a thoughtful cultural shift.
As most businesses are already utilising cloud computing in some form, Nathan emphasised the importance of cloud security. While cloud storage has many advantages, “organisations are still hesitant to move more data and applications to the cloud due to security, governance, and compliance concerns.”
Collaborating with Zoom could streamline human connection while also adding safety measures. Businesses can benefit from workers’ improved routines and skill sets over the past two years. They also guarantee uniformity in a wide variety of applications.
“The key to progress is providing the appropriate value in each solution,” Nathan asserts.
Businesses can stay competitive through Zoom’s partnership with rapid innovation, Zoom allows clients to have access to a continuous stream of new capabilities that reflect actual user requirements.
Mohit stressed the importance of communication in fostering collaboration. He concurred with an attendee that when their partners offer a secure platform for cloud communications, organisations become more powerful. Mohit believes that rather than just being providers, vendors are also the transformation partners of every organisation.
An important aspect of cloud security, in Mohit’s opinion, is making sure sensitive information like customer orders, confidential design documents and financial records are safe. Maintaining customer confidence and protecting strategic assets necessitates a solid data security programme. “Cloud security’s ability to safeguard data and assets makes it essential for businesses moving to the cloud.”
Through collaboration with development partners, businesses can better serve a diverse set of customers and expand their customer base. Therefore, it is important to incorporate platform or integration capabilities and a partner strategy when creating cloud-based applications.
It is important to consider business potential, engineering prowess, and platform marketing when formulating a strategy for your cloud partners. Mohit concludes that a well-rounded approach will allow for an expansion of the partner ecosystem, the delivery of more comprehensive customer solutions, and higher earnings potential.