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.

The post How APJ Sustainability Champions are driving financial outcomes in 2024 appeared first on 麻豆原创 Southeast Asia News Center.

Indorama Ventures, based in Bangkok and listed on the Stock Exchange of Thailand, is one of the world鈥檚 leading integrated petrochemicals companies, with more than 26,000 employees located at 140 manufacturing sites in 35 countries. In 2021, IVL reported consolidated revenue of US$14.6 billion and a record profit. The company is also listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).

Mr.SK Agrawal, President and Program Director of Global ERP and Digital Transformation, Indorama Ventures said, 鈥�In 2020, IVL embarked on a digital transformation journey with 麻豆原创 and Accenture to become a future-ready intelligent enterprise through IVL Olympus project, which aims to drive $600 million of savings by 2023. By replacing more than 70 IT systems across the organization with one integrated ERP platform, we will be able to derive synergistic benefits across our entities with a holistic view on data and information. The implementation of standard processes, master data and streamlined reporting across all business functions will help accelerate the integration of new acquisitions.

This year, IVL completed its acquisition of Brazil-based Oxiteno to become a leading global supplier in high-value surfactant markets. Through the acquisition, IVL extended its growth profile into highly attractive markets in Latin America and the U.S., with additional potential to expand business in Europe and Asia. During the year, IVL also extended its leading global PET packaging footprint into Vietnam.

A key focus for IVL is its Vision 2030 ambition to build its industry leadership in sustainability. 鈥淲ith our integrated business platform, we were able to increase recycled content in accordance with our sustainability goals while maintaining high package performance standards,鈥� added SK.

As the world鈥檚 biggest PET company, and the largest supplier of recycled PET resin used in beverage bottles, IVL spearheads the recycling of post-consumer PET packaging, and has processed over 70 billion post-consumer PET bottles since 2011. With a target of recycling 50 billion bottles per annum as well as achieving broader sustainability goals including carbon capture, the company has committed an investment of US$1.5 billion to achieve its sustainability goals.

鈥淓nterprise technology and digital transformation will continue to be an important business driver to help us achieve profitability, efficiency and sustainability, People, Platforms and Systems are the key focuses to invest for driving our future growth. We will continue to enhance a strong management information system and use advanced digital platform where we can access a real-time monitoring and reporting allowing us to be more analytical in decision making and building business plan.鈥�

Namsiang Group (NSG), a leading chemical product distributor in ASEAN which runs a business to support the whole chemical supply chain industry including trading, manufacturing, labs service and retail also don鈥檛 expect budget cuts in technology area.

According to Mr. Chaiwat Klangvijit, Chief Operating Officer of Namsiang Group, digital transformation has enabled NSG to run our operations as normally as possible during the pandemic. 鈥�In 2020, we partnered with 麻豆原创 and Netizen to embark on a comprehensive digital transformation journey for our 4 offices in Thailand. By operating on a reliable, one single core ERP platform through 麻豆原创 S/4HANA, we were able to support the whole chemical supply chain including trading, manufacturing, wholesales and retail as well as improve data financial analysis accuracy, productivity, speed of document management and significantly reduce the presence of repetitive and manual activities.鈥�

鈥淒espite a looming downturn, digital technologies will be vital in helping our company pivot to find new ways to drive up revenue. We expect to increase our investment in digital technology and automatic process solutions to increase operational efficiency supporting our ASEAN market expansion in the future. The collaboration with 麻豆原创 and Netizen has proved that digital transformation provides a valuable opportunity for core business functions. NSG achieved significant results in productivity, speed of document management up to 40% and data financial analysis accuracy more 35%.鈥� added Chaiwat.

Indorama Ventures and Namsiang Group are the only companies from Thailand that demonstrated their digital transformational excellence and were listed as finalists of the for South East Asia. The Best Run Awards celebrate leading organizations in SEA that have emphasized new ways of thinking, adapted to the new norms and deployed technologies that set the benchmark for their industry to drive successful business transformation in today鈥檚 digital economy.

Atul Tuli, Managing Director of 麻豆原创 Indochina, said: 鈥�Digital transformation is not a new imperative for business leaders in Thailand, but Covid-19 has made it a more urgent one, with firms looking to enhance their agility, speed, and data-driven decision-making. 麻豆原创 has been at the forefront of leading our customers through the pandemic and I look forward to empowering our Thai customers and enriching technology ecosystems for creating sustainable growth.鈥�

For more information, press only:
Wuttinan Thongnuadee:听听wuttinan.thongnuadee@sap.com

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These 麻豆原创 solutions include 麻豆原创 Business Technology Platform, an applications development integration platform; 麻豆原创 Signavio, a business process management platform; 麻豆原创听Account Substantiation and Automation by BlackLine, an accounting process transformation platform; and efficiency testing solutions, 麻豆原创 Application Testing Solutions by Tricentis.

Mitsubishi Materials established its DX Promotion Division in 2020 to promote digital business transformation under the three missions of “strengthening the present”, “creating tomorrow”, and “nurturing people”. It is developing a digital strategy to drive improvements across three pillars 鈥� business-added value, operational competitiveness, and management efficiency 鈥� by utilising data and digital technology. The company is now working on the development of a data infrastructure to support its digital strategy, strengthen human resources for transformation, and reform the corporate culture.

To do that, Mitsubishi Materials needed to revamp its aging core system and modernise its infrastructure to facilitate the business transformation. Upon evaluation, the company decided to introduce RISE with 麻豆原创 with 麻豆原创 S/4HANA Cloud as its core, because it is the de facto standard in the industry and has excellent adaptability to changes in the world. The first step in the system upgrade will introduce new capabilities to its domestic and overseas accounting functions, with the goal of improving overall operational efficiency and governance of the entire group’s accounting operations.

About 麻豆原创 Japan

麻豆原创 Japan was established in 1992 as the Japan subsidiary of 麻豆原创 SE. 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. ()

The post Mitsubishi Materials Corporation Selects 麻豆原创鈥檚 Cloud Offering, RISE with 麻豆原创 appeared first on 麻豆原创 Southeast Asia News Center.

• 麻豆原创 ERP Finance technology was chosen for BRI’s core processing

BRI’s digital transformation is carried out to maintain its position as a leading micro-lending financial institution in Indonesia while strengthening its core activities and offering a range of new products to the market.

“We want to be the most innovative banking group in Southeast Asia and at the forefront of digital transformation in the banking sector,” said Sandra Chalik, Executive Vice President of BRI as Project Manager of BRI Financial Enterprise System Implementation. “For this reason, we must continue to improve the quality of our services, expand our reach and foster good relationships with all parties.”

In its efforts to optimize services for more than 70 million customers throughout Indonesia, BRI is working with 麻豆原创 Indonesia to strengthen its core systems and operations. BRI has downloaded seven 麻豆原创 modules to improve various aspects of its business. To date, three modules have been implemented.

By implementing 麻豆原创 Fixed Asset Management (FAM), 麻豆原创 Income and Expenses (IEM), and 麻豆原创 Group Reporting solutions, BRI can increase its capacity to manage and track general ledger (GL) throughout and between its branch offices, improve traceability and accelerate the preparation of the BRI Group’s financial consolidation, as well as conducting a more in-depth analysis of the data structure which tends to be multidimensional and diverse.

“This digital transformation has helped BRI to obtain more granular information – meaning, now we can easily trace the origin of the data and can see all kinds of information more transparently – especially to meet our audit and financial governance needs,” said Sandra.

He explained that 麻豆原创’s Financial Product Sub Ledger (FPSL) module which will be implemented is in accordance with the Statement of Financial Accounting Standards 71 (PSAK 71) or International Financial Reporting Standards 9 (IFRS 9).

“Thanks to these modules, we can also automate many of our internal operations, including for accounting and reporting needs,” continued Sandra. The process of preparing the BRI Group’s consolidated financial reports can also be carried out more quickly and with more intensity鈥攔eports that were previously produced in three months can now be completed every month, which is good news for us.鈥�

This transformation has also connected BRI with various vendor payment systems into their main system so that the payment process becomes more efficient. This unification of the system reduces the possibility of errors and delays in data transmission.

鈥淭he digital transformation process is not easy, both in terms of adaptation and cost. ERP technology provides many advantages such as reducing back office employees to be transferred to the front office so we can focus more on growing our business,” said Sandra.

BRI chose 麻豆原创 because its products have proven to be world-class solutions and are guaranteed to support business processes in the future. To that end, BRI has adopted a hybrid cloud model with online and on-premise services so that BRI can have a dedicated and strong financial system as the backbone which is the ‘single source of truth’ for all of its financial information.

Andreas Diantoro, Managing Director of 麻豆原创 Indonesia, agrees with this sentiment. 鈥淲ith the support from the 麻豆原创 system, BRI can improve services for both its internal and external stakeholders, and become a more trusted bank in implementing good corporate governance. I think it’s not only BRI customers who can have the opportunity to improve the quality of their banking experience but also residents in all corners of Indonesia.”

鈥淭he digitization process must always have a clear goal. At 麻豆原创 Indonesia, we believe that by improving the performance of various companies and organizations, the Indonesian people can enjoy the best results,” he continued.

BRI Siap Tingkatkan Kualitas Layanan melalui Transformasi Digital听

Jakarta, 27 Juni 2022 鈥� PT Bank Rakyat Indonesia (Persero) Tbk (BRI), salah satu bank terbesar, terkemuka dan progresif di Indonesia, tengah berada di jalur tercepat dalam menjalani proses transformasi digital mereka.听

• Teknologi 麻豆原创 ERP Finance dipilih untuk core processing BRI听

Transformasi digital dilakukan BRI untuk mempertahankan posisinya sebagai lembaga keuangan micro-lending terkemuka di Indonesia sambil memperkuat kegiatan inti mereka dan menawarkan rangkaian produk baru ke pasar.听听

鈥淜ami ingin menjadi kelompok perbankan paling inovatif se-Asia Tenggara dan terdepan dalam transformasi digital di sektor perbankan,鈥� ujar Sandra Chalik, Executive Vice President BRI sebagai Project Manager BRI Financial Enterprise System Implementation. 鈥淯ntuk itu kami harus terus meningkatkan kualitas pelayanan kami, memperluas jangkauan dan membina hubungan yang baik dengan semua pihak.鈥澨�听

Dalam upayanya untuk mengoptimalkan pelayanan untuk lebih dari 70 juta pelanggan di seluruh Indonesia, BRI bekerjasama dengan 麻豆原创 Indonesia untuk memperkuat core system dan operasionalnya. BRI telah mengunduh tujuh modul 麻豆原创 untuk meningkatkan berbagai aspek dari bisnis mereka. Hingga hari ini, sudah ada tiga modul yang dijalankan.听

Dengan mengimplementasikan solusi 麻豆原创 Fixed Asset Management (FAM), 麻豆原创 Income and Expenses (IEM) dan 麻豆原创 Group Reporting, BRI dapat meningkatkan kapasitas mereka untuk mengelola dan menelusuri general ledger (GL) di seluruh dan antar kantor cabangnya, meningkatkan keterlacakan (traceability) dan mempercepat penyusunan konsolidasi keuangan BRI Group, serta melakukan analisa yang lebih mendalam terhadap struktur data yang cenderung bersifat multidimensional dan beragam.听听

鈥淭ransformasi digital ini telah membantu BRI untuk memperoleh informasi dengan lebih granular鈥攁rtinya, sekarang kami bisa dengan mudah menelusuri asal data dan dapat melihat segala jenis informasi dengan lebih transparan鈥攖erutama untuk memenuhi kebutuhan audit dan tata kelola keuangan kami,鈥� kata Sandra.听听听

Ia menjelaskan bahwa modul Financial Product Sub Ledger (FPSL) milik 麻豆原创 yang akan diimplementasikan sudah sesuai dengan Pernyataan Standar Akuntansi Keuangan 71 (PSAK 71) atau International Financial Reporting Standards 9 (IFRS 9).听听

鈥淏erkat modul-modul ini, kami juga dapat mengotomatisasi banyak operasi internal kami, termasuk untuk kebutuhan akuntansi dan pelaporan,鈥� lanjut Sandra. Proses pembuatan laporan keuangan konsolidasi BRI Group juga dapat dilakukan dengan lebih cepat dan dalam intensitas yang lebih sering鈥攍aporan yang tadinya dihasilkan dalam tiga bulanan, kini bisa diselesaikan setiap bulan, yang adalah kabar baik bagi kami.鈥�听

Transformasi ini juga telah menghubungkan BRI dengan berbagai sistem pembayaran vendor ke dalam sistem utama mereka sehingga proses pembayaran pun menjadi lebih efisien. Peleburan sistem ini mengurangi kemungkinan adanya kesalahan dan penundaan pengiriman data.听听

鈥淧roses transformasi digital bukanlah hal yang mudah, baik dari segi adaptasi maupun biaya. Teknologi ERP memberikan banyak keuntungan seperti mengurangi karyawan back office untuk dialihkan ke front office sehingga kami bisa lebih fokus untuk mengembangkan bisnis kami,鈥� kata Sandra.听听

BRI memilih 麻豆原创 karena produk-produknya yang terbukti merupakan solusi kelas dunia dan terjamin dapat mendukung proses bisnis di masa depan. Untuk itu, BRI telah mengadopsi model hybrid cloud dengan layanan online dan on-premise sehingga BRI dapat memiliki sistem keuangan yang berdedikasi dan kuat sebagai tulang punggung yang menjadi 鈥榮umber tunggal kebenaran鈥� untuk semua informasi keuangannya.听

Andreas Diantoro, Managing Director 麻豆原创 Indonesia menyanggupi sentimen tersebut. 鈥淒engan adanya dukungan dari sistem 麻豆原创, BRI dapat meningkatkan layanan baik untuk stakeholder internal maupun eksternalnya, serta menjadi bank yang semakin terpercaya dalam penerapan good corporate governance yang baik. Saya rasa tak hanya nasabah BRI yang bisa memiliki kesempatan untuk meningkatkan kualitas pengalaman perbankan mereka, melainkan juga penduduk di seluruh pelosok Indonesia.鈥�听

鈥淧roses digitalisasi harus selalu memiliki tujuan yang jelas. Di 麻豆原创 Indonesia, kami percaya bahwa dengan meningkatkan kinerja berbagai perusahaan dan organisasi, maka rakyat Indonesia dapat menikmati hasil terbaiknya,鈥� lanjutnya.听听

The post BRI Is Ready to Improve Service Quality Through Digital Transformation appeared first on 麻豆原创 Southeast Asia News Center.

In its听听Bangko Sentral ng Pilipinas (BSP) noted about 51.2 million unbanked Filipinos, translating to a whopping 71 percent of the entire adult population. But when the pandemic started, there was a big jump in account ownership due to the digitalization of financial transactions. Leveraging this trend, the report stated that the central bank aims to get at least 70 percent of the adult population to possess bank accounts by 2023.

But the question is, how听can technology assist rural banks in ensuring financial inclusion? And what role does it play to help them be more agile and sustainable in today鈥檚 world and the future?

Braving Through Challenges

In a virtual event, 鈥楧igitalization in Rural Banking: Strategies for Financial Inclusion in the Midst of the Pandemic and Beyond,鈥� last March 2022, organized by the Bankers Institute of the Philippines (BAIPHIL) and co-presented by听听(NYSE: 麻豆原创), Estrellita Ong, Director of BAIPHIL and Chief Internal Auditor of BDO Unibank, Inc., said that rural banks currently face numerous challenges.

鈥淩ural banking is a segment most vulnerable to economic stops brought by calamities and the pandemic. It also requires approaches that are more personal, inclusive, and far-reaching. And while competition is fierce, regulatory compliance is a must. That is why rural banks need more than good people and sufficient capital. It requires an upgraded and robust IT infrastructure to keep pace with the evolving technology landscape,鈥� said Ong.

Business Innovation 鈥� A Necessity to Survive

To help rural banks and other financial institutions address these challenges, Nitin Vohra, Director of S/4HANA Center of Excellence for 麻豆原创 Asia Pacific and Japan, discussed how technology and business innovation are changing the banking game.

Today, business innovation is critical for companies to survive, despite its prevalence before the pandemic. Since 2000, 52 percent of the Fortune 500 organizations have gone out of business due to digital disruptions, says听. Aside from being a means of saving costs, technological advancements also deliver fresh avenues and opportunities that contribute to value creation.

鈥淣owadays, digital startups are achieving a billion-dollar valuation in less than four years, while Fortune 500 businesses could do it in听,鈥� Nitin explained.

Business Models to Adopt in the Digital Age

Nitin noted that traditional universal banking operates on a full-service model. They provide customers with different accounts and labeled products and services, such as mortgages and credit cards. However, this model contains several providers that offer a lower price, less friction, and better customer experience in the value chain. And with legacy software, competing with these providers is impossible.

鈥淏anks should rationalize their product offerings and concentrate on areas that command a competitive advantage. Another option is to become a service provider to other banks or fintech companies to eliminate the need for others to engage in heavily regulated industries and activities, readily taking on the compliance burden,鈥� Nitin explained.

Banks can also operate as aggregators of financial services and products. 鈥淚n this way, banks do not have to incur the costs of manufacturing products and services to be compliant. It also provides its customers with access to a broad range of products. On the other hand, they need to adopt a vertically integrated yet open platform to take advantage of their execution capabilities and extend their ability to offer levels of customer fulfillment. It also helps enable banks to capture the network effects and capitalize on their existing competitive advantage,鈥� he added.

Becoming an Intelligent Bank

For 麻豆原创, it is also critical for rural banks to transform their business and become intelligent, sustainable enterprises that consistently apply advanced technologies and best practices within agile, integrated business processes.

To help banks and financial institutions become intelligent enterprises, 麻豆原创 provides integrated applications and technologies in a digital platform. With its broad portfolio, the company helps deliver data-driven intelligence, operational effectiveness, financial insight, regulatory compliance, cost optimization, and the best talent in the industry.

Among its current offerings include , a Business Transformation as a Service (BTaaS) solution that aids in ensuring transformation readiness and access to simpler support models by consolidating the solutions and services businesses require in one package.

鈥淩ISE with 麻豆原创 provides cloud delivery capabilities that enable the journey to become intelligent banks. It mitigates risk, reduces cost, and accelerates time to value. It leverages the 麻豆原创 reference architecture built with the industry鈥檚 best practices over the last five decades. It has predictable and lowers total cost of ownership to help banks run today and become intelligent banks of tomorrow,鈥� Nitin said.

With its presence in over 150 countries and supporting more than 14,000 banks worldwide, 麻豆原创 also has a robust ecosystem that helps banks implement 麻豆原创 and non-麻豆原创 solutions to ensure that they become sustainable and resilient enterprises of tomorrow.

Visit the 麻豆原创 News Center. Follow 麻豆原创 on Twitter at .

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 organizations 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 .

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The launch follows the announcement to establish the company made in April of this year by 麻豆原创 and Dediq, an entrepreneurial investor focused on information technology and digital businesses. 麻豆原创 Fioneer expands the financial service software offered by 麻豆原创. It also develops new solutions to serve its customers in the rapidly changing banking and insurance industries.

Today鈥檚 go-live of 麻豆原创 Fioneer marks another important milestone in 麻豆原创鈥檚 long history of success in the FSI market. More than 800 of the world鈥檚 top 1,000 banks and insurance companies are 麻豆原创 customers. 麻豆原创 Fioneer focuses fully on accelerated innovation in the area of core banking, core insurance and FSI-specific finance solutions and is mandated to extend the 麻豆原创 for Banking and 麻豆原创 for Insurance solution portfolios to cover banking and insurance processes holistically.

鈥淎s in any other industry, companies in financial services need to transform their business to stay ahead of the competition,鈥� said Christian Klein, CEO and Member of the Executive Board, 麻豆原创 SE. 鈥溌槎乖� Fioneer will help them meet their needs for speed, scalability and cost-efficiency through digital business innovation, cloud technology and solutions that cover banking and insurance processes end to end. 麻豆原创 has a long and successful track record in the financial services industry, and I am convinced that 麻豆原创 Fioneer will become a leading global provider of financial services software solutions and platforms.鈥�

麻豆原创 Fioneer enables customers to innovate and transform their business by combining premier technology with development expertise and a global network of customers, partners and colleagues. 麻豆原创 Fioneer will have operations in more than 10 countries in Europe, North and Latin America and the Asia-Pacific region by the end of 2021. 麻豆原创 will continue to sell and support 麻豆原创 solutions for enterprise information management and line-of-business solutions to FSI companies, and 麻豆原创 customers will remain 麻豆原创 customers.

鈥淥ur customers can expect the same high-quality engagement they are used to, but now also benefit from new capabilities. Solutions of 麻豆原创 Fioneer will be based on integrated data and allow customers to move FSI processes to 麻豆原创 Business Technology Platform in the cloud,鈥� said Dirk Kruse, CEO, 麻豆原创 Fioneer. 鈥淲e are excited to accelerate the business transformations of our customers with innovative solutions that will be built as part of 麻豆原创鈥檚 industry cloud solutions, all based on 麻豆原创 technologies and applications.鈥�

This originally appeared on the global 麻豆原创 News Center.

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This is no different in the financial services industry. To meet the demands of digitally savvy consumers, many Indonesian banks have incorporated digital initiatives as part of their corporate (as opposed to IT-only) strategy. A听听indicated that 66% of survey respondents 鈥� from Bank Pembangunan Daerah (BPD), joint venture banks, local banks, state-owned banks and Syariah banks 鈥� have developed their digital strategy as part of their business strategy.

Evidently, banks need workers with more digital-ready skillsets as they digitize. But with virtual banking heightening competition, are financial institutions doing enough to identify and develop digitally competent workforces?

A 听has shown that Indonesian consumers are very open to digital banking. Compared to other Emerging Asian markets, Indonesian banking customers is the second-most enthusiastic adopters of digital banking, only after Myanmar.

Fifty-five percent of non-digital customers said they were likely to use digital banking in the next six months. Will traditional banks sufficiently ready their workforces to capture a slice of this pie? Or will the purely digital players win?

One thing is clear. As digital technologies continue to fundamentally change the shape of competition and alter the way consumers live, work and play 鈥� all while workforce demographics continue to shift 鈥� financial institutions need to transform how they engage with and ready their workforces to optimize today and create a thriving tomorrow.

No. 1 HR Capability: Data-Driven Decisions

The question is how. Across the world and in Asia, business and HR leaders agree that听. Companies that want to succeed need to focus on harnessing the talents of the workforce. But without insights from big data and advanced analytics, workforce decision making is often based on a manager鈥檚 experience and intuition. This is valuable in the absence of big data insights. But combined, experience and insights will transform HR scenarios.

Hiring and reward will appear reasonable and fair. Managers will capture coaching opportunities and deliver them during critical times needed. Skill gaps will be accurately predicted and filled. And career paths will align the talent鈥檚 ambitions.

Without data-driven HR and talent management, the impact to business performance can be severe.

According to McKinsey, the relationship between the quality of talent and business performance is dramatic. In highly complex jobs such as information- and interaction-intensive work of managers or bankers, a study found that听.

That鈥檚 a lot to be missing out if the workforce is under-optimized!

Moreover, as automation increases in our evermore digital world, fewer employees would be in the value chain accomplishing tasks which are important and cannot be automated. This makes the performance of each employee more significant to overall business success. In such a landscape, financial institutions simply cannot afford to be eight times behind their competitors.

Leading Banks at the Forefront of HR Transformation

Fortunately, leading banks in Indonesia understand this compelling need.

Bank Danamon: Turning to Cloud to Generate New Value

Bank Danamon is one of them. For the bank, the biggest challenge in the industry is how it can serve customers better than others. Knowing that their people play pivotal roles in how the bank serves customers and compete,听听who are based mostly in Java, Sumatra and Kalimantan.

Why Cloud? No Hardware Investment, Real-Time Learning, Collaboration Anywhere

The bank has taken the leap to integrate all functions in HR digitally on the cloud 鈥� as opposed to doing so in a piecemeal fashion. Why cloud? A significant business benefit is the savings from not having to invest on hardware. The added flexibility for Bank Danamon to adopt specific business processes into the system is also an advantage. But what is critical to the decision is the agility it gives employees and Bank Danamon.

From recruitment to onboarding, learning and development to talent management as well as anything related to the management of HR, having the entire suite of HR tools on the cloud has allowed Bank Danamon to radically simplify HRM and work for all employees. Employees can gain access to business-critical knowledge in real-time. Teams can collaborate anywhere, anytime.

Reaping Benefits Quickly

The implementation has allowed the bank to refocus employees who used to manage HR administrative tasks to a more strategic work scope.

As Mr. Heriyanto Agung Putra, Director of Human Capital of Bank Danamon puts it, 鈥溌槎乖� SuccessFactors supports [our employees] to make their work easier. The managers can manage their people easier and in real-time online鈥� [They] can see the profile of their subordinates, so they know how to develop and when to coach their subordinates.鈥�

He also highlights the importance of empowering employees so they can better serve customers in today鈥檚 competitive environment. For example, with digital learning and development, employees can quickly and easily access knowledge to serve customers better. He remarks, 鈥淥ur employees are using digital to make it easier for customers. Customers can [transact with the bank] anywhere, anytime.鈥�

Becoming Future-Proof

Mr. Putra notes the importance for Bank Danamon to catch up with the future of work as the younger generation such as millennials is growing and dominating their workforce. How aptly put as this is not only true for Bank Danamon or Indonesia, but across industries and around the world.

HR Transformation in Banks: The Time Is Now

For banks thinking about HR transformation, the time is now. Drivers like what Mr. Putra highlighted and more is spurring HR digital transformations in banks and other financial institutions worldwide. Including听听鈥� involving 275,000 employees and contractors across 65 countries!

To stay relevant to the digital consumer, attract and retain superior talent that drives business results and build a workforce that will meet future business objectives, HR transformation is no longer a luxury but a need right now. While it may be intimidating, the plus is that banks don鈥檛 have to go at it alone. Today, many experienced partners have the expertise and are armed with best practices to help financial institutions cut risk and boost returns.

For banks contemplating a large-scale transformation, Mr. Alex Lowen, Group General Manager and Head of Group Performance, Reward, People Analytics and HR Transformation of HSBC shares useful advice:

鈥淏e brave. These programs are enormous, they鈥檙e very scary as you start them. We had lots of conversations with our management board. We got time with them on a regular basis to talk to them about what we鈥檙e doing, why we鈥檙e doing it, the risks of doing it, the benefits of doing it, what it means for the future.

We had moments where we wobbled, but we kept going and kept talking to them about it. I just think [it鈥檚 about] having that confidence, being brave, maintaining the conversation. You鈥檝e got to have sponsorship and leadership in order to drive change this big, I think that鈥檚 really important.鈥�

is an 麻豆原创 customer solutions manager.

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