From being a pharmaceutical company, Himalaya has emerged as a global herbal health and personal care company with close to 500 products sold in more than 100 countries worldwide. Himalaya has chosen 麻豆原创 Sustainability Footprint Management and 麻豆原创 EHS Environment Management as part of its RISE with 麻豆原创 journey to improve sustainable outcomes.

鈥�At Himalaya, sustainability is a part of our DNA and we strongly believe what is good for Mother Earth is good for our customers鈥�and is good for Himalaya,鈥� shares Ananth Narayan Narasimhan, CIO of Himalaya. 鈥淲ith 麻豆原创, we aim to improve efficiencies, intensify focus in key areas, and accelerate our progress in this critical journey in spirit and in deed.”

The sustainability solutions will support Himalaya鈥檚 RISE with 麻豆原创 journey to bring together operational and sustainability metrics. Himalaya also benefits from a range of other 麻豆原创 solutions, including 麻豆原创 SuccessFactors, 麻豆原创 Ariba, 麻豆原创 Integrated Business Planning, 麻豆原创 Analytics Cloud, and 麻豆原创 Business Warehouse.

The 麻豆原创 sustainability solutions are focused on implementing product-level carbon accounting, to calculate carbon footprints for individual SKUs from cradle-to-grave. The aim is to optimize supply chain, power, and water and waste management.

鈥淭he robust, integrated 麻豆原创 system will help us review and improve our performance index across every activity. To enable this, we need accurate, activity-based, and component-wise data visibility,鈥� continued Narasimhan.

鈥淲e have worked hard to do that鈥�not only working with the 麻豆原创 master data but also capturing the sustainability impact. So, if we鈥檙e using new packaging, for example, we have the financial and supply chain data, but we also know what plastic is used, its recyclable quotient, and more. And component-wise, we will be able to identify the carbon impact at product SKU level, not just at the company level. Plus, the accuracy of the data offers huge potential for benefits in analytics, blockchain, and AI capabilities.鈥�

Susanna Hasenoehrl, Head of Sustainability at 麻豆原创 Asia Pacific, said, 鈥淢aking informed business decisions requires businesses to understand both the financial data and the sustainability data. Using 麻豆原创 Sustainability Solutions, Himalaya is future-proofing its business to understand its impact on the world, to optimize supply chains, and differentiate its business against competitors.鈥�

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鈥淭he entire world is on your shoulders… We have to deliver. This is the beginning of a new computing age, the beginning of a new industrial revolution. All 100% on 麻豆原创.鈥�

Jensen Huang, CEO, NVIDIA

It鈥檚 the world鈥檚 company, building AI supercomputers made of more than 600,000 parts and delivering them to hundreds of the world鈥檚 most demanding customers. And, as NVIDIA鈥檚 CEO Jensen Huang noted, 鈥渋t鈥檚 all on 麻豆原创鈥�.

The message from 麻豆原创 Sapphire 2024 in Orlando was clear. AI is not only the future, it is here today. And now it鈥檚 time to use it.

But amid the hustle and bustle of the event, there were lots of nuggets that you may have missed. So, with one eye on the benefits for Asia Pacific and Japan, here are my key learnings from Sapphire.

You can鈥檛 win in AI alone 鈥� you need a best-in-class ecosystem

The opportunity for AI in the Asia Pacific region is vast. According to , the Business AI market in APJ is expected to grow by more than 26% to $28 billion by 2027.

While the opportunity is huge, so are the choices for your business. That鈥檚 why 麻豆原创 is partnering with enterprise tech and industry leaders to push the limits of what generative AI can do for customers.

In addition to our expanded collaborations with听AWS听and Microsoft, we announced new large language models with Mistral AI, a partnership with Meta to use Llama 3 in 麻豆原创 Analytics Cloud, and an expansion of our partnership with Google Cloud to integrate Joule with Google Cloud鈥檚 Gemini AI assistant and Google Cloud Cortex Framework鈥檚 data foundation.

And that鈥檚 not all. As Mr Huang noted on-stage, 麻豆原创 and NVIDIA are working together on a听听to embed cutting-edge technologies into enterprise-ready business applications. That means Joule working with NVIDIA鈥檚 state-of-the-art AI models, integrating GenAI into 麻豆原创 and NVIDIA code generation, and simulating complex manufacturing products and configurations as industrial digital twins.

There鈥檚 no cookie cutter approach to making the most of Business AI. That鈥檚 why we believe the strength of our AI ecosystem means customers get the very best choices to drive AI benefits unique to their needs.

Keeping clean in the cloud

The benefits of AI can only really be achieved in the cloud. Best practice is what 麻豆原创 calls a 鈥榗lean core鈥� 鈥� cloud-based ERP infrastructure that separate core applications from custom modifications. The result is a platform that can be easily and quickly upgraded with new capabilities, allowing agile innovation.

Takuya Sakai, general manager of the Digital Transformation Business Group at听, was clear about the benefits of simplification and a clean core. In 2019, Hitachi High-Tech had 9,000 add-ons across its 麻豆原创 systems, resulting in lots of custom code, errors, and large operational costs every year. The cost of change meant the company only completed a major update once in 12 years.

Moving to the cloud and a clean core solved these issues. With a new system based on S/4HANA Cloud Cloud, Hitachi High-Tech reduced its 9,000 add-ons to just 750, allowing it to easily upgrade its ERP core. 鈥淯pgrading our old ERP took about a year and a half from the planning stage,鈥� Sakai said. 鈥淗owever, with clean core, we can now do an upgrade every year in about 40 days.鈥�

And that change means Hitachi High-Tech can plan to take advantage of new innovations more simply. 鈥淎n upgrade every year keeps the clean core fresh and means new features can be delivered to our business quickly, like AI or process automation,鈥� concluded Sakai.

You can spell sustainability without 鈥楨RP鈥欌�� but you shouldn鈥檛

The benefits of 麻豆原创 innovation are not only financial. They drive real environmental value. And that鈥檚 critical in Asia, where we are responsible for more than half of the world鈥檚 emissions.

Sustainability and business performance are intrinsically linked. In fact, we believe businesses have to start treating carbon like money by using an accounting system for environmental, social, and governance (ESG) data that is as auditable, transparent and reliable as their financial data.

That means integrating sustainability data into cloud ERP.

And we can then take advantage of the huge innovation provided by Business AI. AI takes complex sustainability tasks reliant on ESG and ERP data and makes them automated and auditable. It enables companies to boost operational efficiency, improve transparency around supply chain emissions, design and plan more effectively, and automate time-consuming tasks.

For example, at Sapphire we launched AI-enabled Emissions Factor Mapping, boosting the speed and accuracy of carbon footprint calculations. And we enabled the automatic generation of ESG reports through AI all based on the data within 麻豆原创 Sustainability Control Tower. This not only streamlines the reporting process but also helps ensure that the data is reliable and actionable, providing a clear picture of a company鈥檚 sustainability performance.

Beyond hype to real-world results through real-world AI听

It鈥檚 easy to get carried away by AI hype and excitement. But what I saw at Sapphire was even more exciting 鈥� Business AI that makes a real difference to business problems.

Our opportunity across Asia is enormous. But it鈥檚 one we can make the most of, especially if we bring together the benefits of best-in-class ecosystems, a clean core, and a focus on sustainable innovation.

.

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Sydney 鈥� March听5, 2024听鈥斕齮oday announced Queensland government-owned transmission network service provider,听, has implemented听, to improve data capture and reporting for climate and other essential ESG reporting.

Powerlink is a leading Australian provider of high voltage electricity transmission network services, providing electricity via a network that extends 1,700 kilometres (km) from Cairns to the New South Wales border, and comprises 15,345 circuit km of transmission lines and 147 substations.

The organisation has a core role as part of the Queensland Government鈥檚听Queensland Energy and Jobs Plan听to transform Queensland鈥檚 energy system to deliver clean, reliable, and affordable energy.

This role and other changes in industry have driven Powerlink to embark on a multi-year digital transformation focused on the modernisation and automation of systems, which has included the successful implementation of 麻豆原创 S/4 HANA and 麻豆原创 Analytics Cloud. This journey with 麻豆原创 has continued with the expansion to other products to enable data driven decision-making such as 麻豆原创 Datasphere and Sustainability Control Tower (SCT).

Powerlink has implemented 麻豆原创 Sustainability Control Tower to accurately track data and sustainability ambitions across its supply chain aligned to Queensland climate targets and Australian legislative reporting requirements to enable the transition to low-carbon business processes.

Towards the end of 2024, Powerlink is also implementing听听to support the recruitment, hiring, training, and development of its workforce as it grows to meet changing business requirements.

Mark Pozdena, General Manager of Business IT & Digital Delivery at Powerlink, says, 鈥淧owerlink is focused on connecting Queenslanders to a world-class energy future and as our company transforms to do this, the technology we use day-to-day needs to change too, including the tools we use to understand our business and obligations.

鈥淲ith strategic partnerships like our one with 麻豆原创, our internal teams鈥� expertise has grown our data maturity and capabilities significantly, which is critical to help plan our work and future, supporting the delivery of Queensland鈥檚 clean energy future鈥�.

The Australian Government has committed to ensuring greater visibility in climate-related risk and opportunity for large businesses with proposed mandatory climate-related financial reporting to be publicly available.

Leigh Pickering, Executive General Manager, People & Corporate Services at Powerlink, says, 鈥淏y implementing 麻豆原创 Sustainability Control Tower, we can improve the accuracy and traceability of this vital reporting on greenhouse gas emissions and are better positioned to meet our reporting commitments to the government鈥�.

Angela Colantuono, President and Managing Director, 麻豆原创 Australia and New Zealand, says, 鈥溌槎乖� believes technology has a critical role to play in helping organisations become intelligent and sustainable enterprises, but only by recording, reporting, and acting on actual sustainability data can organisations deliver tangible outcomes.

鈥淏y modernising its systems with 麻豆原创, Powerlink Queensland is empowering its workers with the tools and data to work more efficiently and make more informed decisions. It鈥檚 also providing the foundations for the organisation to build the digital infrastructure required for a clean energy future.鈥�

Powerlink plans to continue to build out its capabilities within 麻豆原创 Sustainability Control Tower, creating stronger traceability and accountability within its supply chain aligned to its climate targets.

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The company, which processes pneumatic control components, automotive parts, and more from its headquarters in Fukushima Prefecture, Japan, implemented the solution in partnership with Accenture to improve the environmental and economic value of Matsumoto Precision鈥檚 products. Accenture supported the implementation of the solution and the calculation of CO2 emissions for each product.

鈥淕reen transformation is a central tenet of Matsumoto Precision鈥檚 core strategy,鈥� said Toshitada Matsumoto, President and Representative Director of Matsumoto Precision Co. 鈥淥ur aim is to realise our vision of running 鈥楾he Sustainable Factory鈥�, including self-sufficiency in electricity through solar power and purchase of electricity with non-fossil certificates. 麻豆原创 Sustainability Footprint Management enables us to record, report, and act on CO2 emissions on a per-product basis, giving us and our partners better insight into the environmental impact of our businesses.鈥�

Matsumoto Precision is the first company to benefit from the Connected Manufacturing Enterprise (CME) platform, a common business system created by 麻豆原创 Japan and Accenture to improve the productivity of small and medium-size锛圫ME) manufacturing. The CME platform is a cloud-based service standardising business systems for SME manufacturing companies, incorporating a regional ERP platform consisting of various templates developed by Accenture based on 麻豆原创 S/4HANA庐.

The company began using the CME platform in April 2021 to standardise its business processes. The use of 麻豆原创 S/4HANA has improved productivity by approximately 30% and has increased the speed of management decision-making.

With the adoption of 麻豆原创 Sustainability Footprint Management, the company has now started providing information on CO2 emissions per product to its business partners.

鈥淓nvironmental insight isn鈥檛 just important for businesses, but across every organisation in the value chain aiming to reduce CO2 emissions,鈥� said Hirofumi Suzuki, President and Managing Director of 麻豆原创 Japan. 鈥淢atsumoto Precision add value and differentiate what they sell by promptly providing information on CO2 emissions at product level.听 麻豆原创 is proud to support Matsumoto Precision on its green transformation journey, ultimately improving both the environment and society.鈥�

Although the company had been working to visualise CO2 emissions at the plant level it had not been able to do so on a product-by-product basis. 麻豆原创 Sustainability Footprint Management calculates CO2 emissions for every product based on the individual manufacturing performance information already available in 麻豆原创 S/4HANA.

鈥淭o achieve both environmental and economic values, a Digital transformation platform is indispensable. 听This project was realised in a short period of time through the use of 麻豆原创 S/4HANA, which helped to standardize the operations from production to procurement to sales,” continued Toshitada Matsumoto. “We look forward to working with the entire value chain in Japan, including small, medium and large enterprises, to enhance the competitiveness of Japan as a whole.”

鈥淏y visualising carbon footprints, companies and consumers can choose low-carbon products and services, and contribute to the realisation of a decarbonised society,鈥� said Joichi Ebihara, Sustainability Group Japan Lead at Accenture Japan. 鈥淭o achieve this ambition, collaboration between companies and across the enterprise is a must. We hope our collaboration with 麻豆原创 can serve as example to others in region and around the world.鈥�

Amy Cravens, Research Manager, GRC and ESG Management and Reporting Technologies at IDC, noted, 鈥淥rganisations are increasingly seeking to derive and measure business value from their sustainability initiatives and product-based carbon foot printing is an important tool in achieving that goal. A recent IDC study (August 2023) found that one-third of respondents identified carbon emissions monitoring software as one of the most efficient tools in enabling an organisation鈥檚 business objectives.鈥�

About 麻豆原创

麻豆原创鈥檚 strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 麻豆原创 customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 麻豆原创 helps give people and organisations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 麻豆原创 helps the world run better and improve people鈥檚 lives. For more information, visit鈥�.

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A recent 麻豆原创 study revealed that 70% of Asia Pacific and Japan (APJ) businesses see a moderate to strong relationship between sustainability and their organisation鈥檚 competitiveness.

Introducing the APJ Sustainability Champions

These businesses, called APJ Sustainability Champions, are more likely than their counterparts to achieve both environmental and financial outcomes.

The study, which surveyed 1,300 respondents across APJ, found APJ Sustainability Champions are almost twice as likely as companies who don鈥檛 see a strong relationship between sustainability and competitiveness to have achieved significant revenue and profit results in the past year.

Over half (58%) of the APJ Sustainability Champions saw revenue growth of more than 6% compared to just 37% of other businesses. Similarly, while 62% of APJ Sustainability Champions experienced profit of over 6% in the past year, just 35% of companies who don鈥檛 link sustainability and competitiveness could say the same.

That success is expected to continue. Significantly higher numbers of APJ Sustainability Champions are predicting more than 10% growth in revenue (36%) and profit (41%) in 2024 compared to other companies (16% and 17% respectively).

How are APJ Sustainability Champions driving financial outcomes from sustainability?

There are three key ways APJ Sustainability Champions behave differently to other organisations that help them unlock sustainability as tangible profit drivers.

1. APJ Sustainability Champions measure in actuals not averages

APJ Sustainability Champions are significantly more likely to use real sustainability data rather than averages and estimates.

Nine in ten (89%) APJ Sustainability Champions collect energy and emissions data by direct measurement compared to 72% of other businesses. By using actual data instead of averages, businesses can utilise accurate numbers when it comes to making core decisions for the business.

This is an area when more businesses in APJ businesses can improve. Based on our survey, the Asia Pacific and Japan region trails the rest of the world when it comes to directly measuring energy consumption and emissions (79% in APJ vs. 83% globally), resource availability (76% vs. 79%), and materials use (71% vs. 76%).

2. APJ Sustainability Champions integrate sustainability into decision-making

Almost six in ten (59%) APJ Sustainability Champions use sustainability data to inform strategic and operational decision-making to a strong degree, compared to just 25% of other businesses. Just one per cent do not use sustainability data in decision-making at all.

This requires conscious effort to make sustainability fundamental to organisational processes. Integrating sustainability into accounting and ERP systems into the business at every level of operations creates a 鈥榞reen ledger鈥�.

This allows businesses to understand and view exactly where emissions are occurring in order to set achievable targets and to identify areas which would benefit most from decarbonisation.

3. APJ Sustainability Champions record broadly and share sustainability data across their ecosystem

APJ Sustainability Champions are experienced collecting sustainability data, with 65% of APJ Sustainability Champions collecting data for more than five years.

But they also cast their nets wide, measuring data for energy consumption and emissions (79%), air pollution (66%), and resource availability (60%). Almost half (49%) of APJ Sustainability Champions expressed complete satisfaction with the data quality they collect, compared to just 8% of other businesses.

But, more than that, they know sustainability isn鈥檛 an issue for their organisation alone. Scope 3 emissions are accrued across your entire supply chain, and require proactive, transparent action to monitor and manage.

APJ Sustainability Champions expect to exchange sustainability data across their ecosystem. Almost half (48%) of APJ Sustainability Champions require sustainability data from suppliers, compared to just 22% of other businesses.

It鈥檚 time to harness sustainability data for the health of our planet and our businesses

APJ is the world鈥檚 largest carbon emitter, and also home to many fast-growing economies. The region not only has the most to lose from the effects of climate change, but also the biggest opportunity for businesses who link sustainability to their organisational performance.

The example of the APJ Sustainability Champions should act as a clear call to action for businesses across APJ to measure real sustainability data, integrate it into their core businesses via a green ledger, and share sustainability data across their ecosystem.

Sustainability and business growth isn鈥檛 an either-or challenge. It鈥檚 a win-win.

Gina McNamara is Regional Chief Financial Officer, 麻豆原创 Asia Pacific & Japan

Find out more about , or get further reading about our 麻豆原创 Sustainability Study here.

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Since its inception in 2015, WayCool has focused strongly on its sustainability objective to deliver both positive impact and profitability. The company has invested in solar roof-top projects to harness green power as well as water treatment and reuse systems. These interventions across its operations have not only resulted in avoiding 120 tons of carbon emissions and saving 1,980 KL of fresh water, but also delivered economic savings of $12,500 in FY2022-23.

Focusing on innovation and efficient supply chain systems, WayCool has managed to restrict the food loss in its supply chain to less than 2%, compared to the Food and Agriculture Organisation (FAO) food loss projection of 14.7%. Furthermore, the company has electrified 22% of its last last-mile delivery fleet, covering 1.2 million kms and eliminating 289 tons of logistic carbon emissions. The company has a commitment to shift to 100% EVs in its last-mile delivery by 2030.

Mr. Srinidhi S. Rao, Head of ESG at WayCool Foods, said,听鈥淲e have embedded environmental, social, and governance (ESG) practices across our business process.鈥�

麻豆原创 helped WayCool embrace digital transformation in its sustainability journey through the design, development, and implementation of an environmental dashboard based on the 麻豆原创 Analytics platform.

The dashboard collects raw data from various disparate sources, including Internet of Things (IoT) devices, transactional data from its 麻豆原创 enterprise resource planning system, and application databases, and converts it into productive insights to make informed business decisions.

It provides a comprehensive view of sustainability key performance indicators with over 90% accuracy across various parameters including clean energy generation, energy efficiency, water efficiency and treatment, and waste management. It also provides a fully-fledged greenhouse gas emissions measurement (GHG) to benchmark past and present performance, identify any anomalies, and holistically report sustainability performance.

鈥淥ur advanced analytics powered E&S dashboard has not only enabled us to visualize the ground level impact of our environment initiatives but, by publishing reliable real-time data, facilitates better decision-making backed by insights,鈥� continued Mr. Rao. 鈥淭his is a significant step in our net-zero journey as we continue to demonstrate how climate-smart initiatives can also add to profitability, making them business-smart too.鈥�

The innovation was recognised by 麻豆原创 after WayCool won the 鈥楽ustainability Champion鈥� category at the 2022 麻豆原创 ACE Awards.

Learn more about .

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So, what lessons can we learn from the innovations and collaborations on show, and how can customers navigate an uncertain future with certainty?

LESSON 1: Innovation through business AI is here today

There鈥檚 never been a more exciting time for innovation, and that鈥檚 because of AI. Generative AI and large language models (LLMs) are dominating headlines and business conversation.

But AI is not new to 麻豆原创 鈥� it鈥檚 already embedded in our solutions and being used by more than 26,000 customers today. For example, take the Talent Intelligence Hub in 麻豆原创 SuccessFactors. It helps employees build and maintain a skills portfolio with the help of AI, enabling employees to showcase their strengths, workstyles, and preferences. Plus, it helps staff get personalised recommendations for career paths, training, and mentors, all in the one place.

And there鈥檚 more to come. , many powered by generative AI, as well as significant partnerships with Microsoft, Google, and .

LESSON 2: Greater sustainability means accounting for carbon

麻豆原创 has been known for managing resources for more than half a century. But today, we know the world鈥檚 resources are in danger: sustainability is the business challenge of our generation.

So, 麻豆原创 is reinventing the 鈥淩鈥� in ERP by extending the definition of resources beyond financial and goods flows to include sustainability metrics like carbon. That is what we call – ledger-based accounting for carbon, so companies can manage the carbon with the same accounting quality as financial data.

Technology is bringing sustainability and business processes together at a fundamental level. As Sudarto Unsurlany, Head of Digitalization at PT Petrosea Tbk., noted, 鈥淥ur transformation has been driven by our 3D strategy of digitalisation, diversification, and decarbonisation as the enabler for our company to pursue not only superior but also sustainable performance. Tapping into various digital solutions within 麻豆原创 ecosystem along with our Minerva Digital Platform as the in-house platform for end-to-end digital mining solutions has helped bring in connectivity, insights, and impacts to support our aspiration to become a sustainable resource in the upcoming future.鈥�

LESSON 3: Future-proof businesses are investing today for a resilient tomorrow

We are future-proofing businesses by connecting industries and enterprises. But what does a future-proof business look like?

The past three years have accelerated the speed of change for many of us. The travel industry was at the very centre of that change, especially as demand for air travel increased again following a challenging period for the industry.

That鈥檚 why 麻豆原创鈥檚 long-time customer, Bangkok Airways, a regional airline based in Thailand, selected RISE with 麻豆原创 to be ready for whatever the future may hold. Bangkok Airways now benefits from a unified cloud operating model that removes complexities in its systems. The new platform provides improved visibility of flight performance and profitability through a connected, central process. It is driving future resilience through innovation today.

LESSON 4: Creating value is a marathon we run together, not a sprint

The accelerating pace of innovation is also enabling new opportunities for value creation. But no company can innovate alone 鈥� collaboration is critical. That demands a continuous process, working together to envision an organisation鈥檚 future state, assess value creation opportunities, and build a structured transformation road map.

What does that look like in practice? Let鈥檚 look at our customer Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group – one of the Philippines鈥� largest conglomerates. AIC started its transformation journey with RISE with 麻豆原创 at its digital core. After experiencing the benefits 麻豆原创 offers, we worked with the AIC team to define its strategy, desired outcomes, and ambitions across the company鈥檚 functional areas. Then we devised a future vision and compared it to the current state of play to see how technology can achieve it.

This saw the adoption of a suite of 麻豆原创 solutions, including our travel and expense platform, 麻豆原创 Concur, 麻豆原创 Business Technology Platform, and 麻豆原创 Digital Supply Chain. AIC鈥檚 digitisation journey has been powered by the 麻豆原创 customer value journey at every stage.

鈥淲ith 麻豆原创 BTP and RISE with 麻豆原创 as our guiding principle, we have witnessed the breadth of 麻豆原创鈥檚 portfolio,鈥� said Raymund Ramos, Chief Information Officer, Aboitiz InfraCapital. 鈥淭his is integral in driving our entire digital roadmap for the next five years and in helping realise Aboitiz鈥檚 group vision of becoming the Philippines鈥� first 鈥榯echglomerate鈥�.鈥�

Southeast Asia is a region of opportunity

We are at an inflection point for our region and 麻豆原创鈥檚听mission in SEA to uplift the lives of 700 million people in our region.

麻豆原创 Now SEA revealed how 麻豆原创 is doing that in four key ways 鈥� boosting innovation through business AI, driving sustainable outcomes with the green ledger, future-proofing infrastructure for resiliency, and driving ongoing value through collaboration.

The event followed the听announcement听of 麻豆原创鈥檚 Asia Pacific Q2 2023 earnings, noting significant cloud growth and highlighting new SEA customer wins and go-lives including Visa, Singtel, FGV IFFCO, and Aboitiz InfraCapital.

Check out more 麻豆原创 Now SEA content here.

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In April 2023, the World Economic Forum, in collaboration with 麻豆原创 and Boston Consulting Group (BCG), published a new white paper 鈥� 鈥� detailing the impact of climate change on Asia, and the opportunities and best practices for businesses in the region.

Following are the key takeaways from the report.

What鈥檚 Happening in Asia?

As a region, Asia represents both the biggest impact on global emissions as well as potentially bearing the most significant challenges.

Asia contributes 51% of global greenhouse gas (GHG) emissions, with China, India, Japan, Indonesia, and South Korea cumulatively accounting for 43% of the overall total alone. That has enormous impact on the rest of the world. The global supply chain relies strongly on Asian economies like China, Indonesia, South Korea, Japan, and Malaysia, resulting in a significant interregional flow of embedded carbon emissions.

A by the World Meteorological Organization (WMO) stated that there is a 50% chance of temporarily breaching the 1.5掳C global temperature threshold in the next five years. Developed countries like the United States and Australia have already implemented much-needed legislation to boost sustainable outcomes, while China, the world鈥檚 biggest carbon emitter, has recorded a decrease in carbon emissions in recent months. Despite these positive strides, a lot needs to be done, and it needs to be done quickly.

In Asia, existing policies and corporate responses are not proportional to the threat the region faces. Asia is home to some of the world鈥檚 fastest-growing and most diverse economies, resulting in an increasing demand for lower-cost energy. Yet it is predicted that a severe increase in global temperature of 3.2掳C would see a reduction of Asia鈥檚 GDP by 26% by 2050 鈥� the second most at risk region in the world.

Even at a 1.5 掳C temperature increase, Asia is still expected to experience yearly coastal flooding impacting 60 million people, long-term degradation to 70% of coral reefs through bleaching, around 5% lower crop yields, and 1.8 times increase in heatwaves.

How Can Asia Adapt to and Mitigate the Effects of Climate Change?

It is important that Asian countries as a unit acknowledge that the world will continue to warm even if we achieve many of our climate goals. The goal then becomes to adapt to a warmer world, while continuing to mitigate the effects of climate change.

Adaptation does not mean accepting defeat when it comes to mitigating climate change. Instead, combining adaptation and mitigation offers both the ability to better deal with future risks while driving emissions down. That means it鈥檚 critical to continue investing in energy infrastructure, decarbonizing supply chains, slowing GHG emissions, and removing existing GHGs from the atmosphere.

The drive to adapt and mitigate climate change should not be seen as a cost for businesses to bear. It is an opportunity.

There are significant new opportunities available for Asian businesses to benefit from climate action. Globally, revenues of up to USD$10.1 trillion is on offer from climate-focused business activities. Of that opportunity, Asia could realize a 43% share of total global opportunity, totaling USD$4.3 trillion from ideas like the expansion of nature-positive renewables, energy-efficient buildings, organic food and beverages, waste management, and reducing food and water loss in the value chain.

What Can Asian Corporates Do?

At a corporate level, there has been an encouraging acceleration in the number and scale of commitments and in reporting on climate action initiatives. In 2021, 3,879 companies in Asia disclosed their climate targets and emissions through the Carbon Disclosure Project (CDP) 鈥� a 29% increase year-on-year.

Yet there鈥檚 more to do. Only around 900 of those companies have thus far adopted science-based targets, and just 300 (8%) have net-zero targets. There is also work to be done to turn commitments into action, with only 38% of companies reporting that they are following a specific low-carbon transition plan.

Turning ambition into action requires a strategic focus and a defined short-, medium-, and long-term plan. Based on regional best practices, 麻豆原创 and BCG created a corporate climate action framework that details:

• Immediate actions for businesses include:
  • Making climate action a CEO priority.
  • Understanding the scope and scale of climate risks and opportunities using public and proprietary data.
  • Setting measurable decarbonization targets and milestones.
  • Identifying and implementing cost-efficient solutions to tackle emissions
• Transformative medium-term actions include:
  • Mobilizing organizational resources by embedding climate action strategies in corporate governance, committing investments, and clearly communicating activity.
  • Accelerating collaboration with upstream and downstream stakeholders such as customers, suppliers, competitors, investors, and regulators.
• Long-term actions include:
  • Expanding existing value chains and acquiring new capabilities to reduce emissions footprints across existing value chains through new technology and digital solutions.
  • Fostering new ideas in adjacent businesses and new green markets.

Asian businesses face diverse opportunities and challenges. Hence, these solutions must be custom-made to create unique measures that meet global demands. Asian leaders must take bold measures to save their businesses and the region. Pledges and net-zero commitments made at global summits must turn into actions.

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This year, Singapore businesses will continue to face tighter financial conditions and increasing costs. The Budget 2023 announcement emphasised the deepening of support for local enterprises in a bid to grow the economy, with the outlook for 2023 looking positive but slowing at about 2.5%.

Here are three areas that midsize companies will need to focus on to continue their advancement of opportunities.

Strengthening capabilities for innovation

With the extended Enterprise Financing Scheme, as well as the necessary skilling avenues and tax incentives, growing companies are able to transform themselves into becoming more .

Rising to meet the digital mandate will be paramount for businesses to stay relevant, resilient and thrive amidst global headwinds. grants agility, and scale, as well as the ability to realise cost savings in the long term and to unlock new revenue streams.

Ready-to-run processes such as cloud that are ready for anything to continuously bring out innovation into the business, while being easy to use for everyone enable different parts of the company to work together as growth occurs. Such solutions keep businesses moving forward to confidently tackle challenges regardless of markets or models.

The new Enterprise Innovation Scheme initiated by the government will also significantly reduce tax deductions for key activities within the innovation route. For Singapore to truly become a socio-economic and digital powerhouse, innovation is a critical pillar and foundation of a modern economy. Companies must treat innovation as innate, not just something in need when the seas are rough. The pace of innovation is dramatically accelerating. As a result, every company needs to tap the power of the collective to solve and scale.

One way would be to adopt a in order to accelerate development and automation in creating solutions for the organisation. Such a solution can increase productivity by reducing the amount of time needed for manual coding using visual processing and drag-and-drop capabilities on a low or no-code development platform. Delivering applications more quickly will free resources into other development initiatives and scaling up value creation, making it easier for midsized companies to expand.

Companies would also need to boost their productivity by looking to reskilling and upskilling their workforce to be future-ready.

Empowering a future-ready workforce

While many SMEs have already made inroads to future-proof their businesses during the pandemic, there is still much to be done to encourage organisations to empower their workforce to thrive and drive sustainable success. There remains an increased emphasis on 鈥� particularly for deep tech sectors that are the pillars of our innovation ecosystem.

In a similar fashion, 麻豆原创 is helping to equip mid-career jobseekers in boosting their employability for the Infocomm Technology, Supply Chain and Human Resources sectors. Besides mid-career jobseekers, enables the next generation to learn, research, and innovate with business applications for the Intelligent Enterprise and the green economy.

Balancing this by staying open to top foreign talent to complement our local workforce will put us in good stead to build a resilient and future-ready workforce for today鈥檚 digital economy, and tomorrow鈥檚 digital-first world.

In Singapore, the government will be appointing Jobs-Skills Integrators to ensure training will improve employment and earnings prospects post-training. These integrators will work with training providers to update existing training programmes or create new ones. For example, businesses can garner more counsel for securing an additional workforce, for workers to receive advice and training and for those who are searching for jobs to be connected with potential employers.

Driving sustainability as a business imperative

As Singapore embarks on its Green Plan, sustainability will be the key differentiator and business imperative for SMEs, where we will see entire business value chains looking to combat climate change, create a circular economy, and become more socially responsible.

and data will be critical for a green transition to net zero by 2050. In fact, accurate data and reporting for full transparency within organisation are determined to be the second most important factor in reducing carbon emissions locally.

Full trackability across business units ultimately benefits the bottom line 鈥� enabling businesses to achieve resilient and greener supply chains that improve productivity. Further investments in green skills are absolutely vital to Singapore鈥檚 transition towards a green and digital economy.

All for supporting the backbone of the local economy

With public and private support, SMEs in Singapore are well-positioned to not only overcome the mixed global economic outlook but also look to expand their businesses beyond Singapore. By leveraging the cloud, a dynamic and supportive ecosystem, companies can enable continuous innovation and scalability with speed and usability that is crucial to stay competitive in a digital-first world, GROW, thrive and play a vital role in the overall global economy.

Eileen Chua is Managing Director of 麻豆原创 Singapore.

The post Breaking Borders for Small and Medium Enterprises in Singapore to Expand Globally and Thrive appeared first on 麻豆原创 Southeast Asia News Center.

As the real impact of climate change is increasingly felt, companies must ensure that its business practices are conducted in a sustainable manner by taking into account the Three Zero commitments: Zero Emission, Zero Waste and Zero Inequality.听

Through its business solution and services, 麻豆原创 can help companies undergo their digital business transformation with sustainability in mind.

On this occasion, Managing Director of 麻豆原创 Indonesia Andreas Diantoro, discusses the correlation between business processes, digitization, and sustainability with Suara.com in a video interview.听

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Pandangan 麻豆原创 Tentang Pentingnya Peran Digitalisasi Dalam Mencapai Sustainability

Pengelolaan dan pengolahan data di bidang bisnis membutuhkan bantuan digitalisasi agar prosesnya lebih efektif, efisien, dan dan dapat diandalkan.

Namun dengan semakin nyatanya dampak perubahan iklim, dunia bisnis juga dituntut untuk memastikan bahwa praktik bisnisnya dijalankan secara berkelanjutan (sustainable) dengan mempertimbangkan komitmen Tiga Nol: Nol Emisi, Nol Limbah dan Nol Ketidaksetaraan.

Dengan solusi dan layanan bisnis yang dimiliki, 麻豆原创 dapat membantu perusahaan-perusahaan untuk menjalankan transformasi digital bisnisnya dengan memperhatikan faktor sustainability.

Pada kesempatan kali ini Managing Director 麻豆原创 Indonesia, Andreas Diantoro, berkesempatan untuk berbincang mengenai hubungan antara proses bisnis, digitalisasi, dan sustainability听 dengan suara.com yang dikemas dalam bentuk video.

Artikel ini diterbitkan oleh pada 18 Februari 2023.

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The post 麻豆原创’s view on the important role of digitization in achieving sustainability appeared first on 麻豆原创 Southeast Asia News Center.