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We’re seeing a boost in the adoption of CoEs as a new software development and efficiency strategy. But, is it right for your organization?
Rooted in academic and medical environments, centers of excellence — also called competency or capability centers — are hubs of creativity and innovation. They are, for all intents and purposes, a collection of experienced professionals that develop improvement strategies for optimizing processes and value across an organization.
They’ve existed for some time, but we’ve seen a boost in their adoption thanks to an emphasis on distributed development and offshore opportunities. Corporate and organizational outsourcing strategies are becoming more prevalent, and at the same time, there’s a need to accommodate some of the more productive remote processes that are flowing back into a business.
In software development specifically, CoE’s can help organize and streamline various production processes between outsourced and local tasks. Alternate uses include the rollout of new technologies, improving organizational capacities, tending to client needs, or even specialized services — such as generating internal training reports or conducting R&D for new tech projects.
The combined expertise and experience helps assure more efficient operations and the use of industry best practices.
The idea behind a center of excellence — at least in software development — is to build a team whose primary task is to enforce and streamline sound development practices. The center helps a business eliminate mistakes and development failures by merely exploring alternate solutions and more efficient methods. They may also be deployed to implement new technologies and systems, manage outsourced client relationships, or kickstart collaborative environments. Ultimately, it depends on why you’re creating the CoE and what you hope to achieve.
Like DevOps, the adoption of a CoE is more of a cultural change. It’s not technology or tool-driven but instead influenced by people.
You start by choosing the most skilled professionals and experts within your organization and providing them a full-time role in the CoE. Naturally, they will work together to find improvements, which you should then leverage or prioritize across your organization.
What benefits can a CoE provide?
The most significant benefit is, of course, a major overhaul in operational efficiency. Typically, the team stationed within a CoE works to streamline various processes and tasks, reduce costs, achieve goals in less time after expending fewer resources, and boost customer satisfaction. They also achieve this by training or coaching their peers.
It also provides a decrease in risk, particularly when it comes to software and development failures. Even more so in an outsourcing or external development environment. This is because a brand’s standards and processes are honored across the entirety of a task, even when handled by a third-party. Ultimately, the CoE team ensures proper communication between departments and teams throughout the scope of a project.
Risk is also mitigated because the CoE is constantly measuring the success of various tasks, processes, and projects. If something is not going appropriately, the team will explore new methods which can effectively replace the old one(s). Except that this is done alongside normal development. Nothing has to stop or be delayed unless of course, the problem will pose significant issues later on.
Finally, the CoE team has access to the necessary resources to define and measure ROI and organizational impact. They can see right away when something is not working or needs to be handled differently. This extends to their own strategies, allowing them to gauge performance even for new methods or frameworks they deploy.
Centers of Excellence create a persistent environment of improvement within a company, generating frequent efficiency changes without hurting the larger operation. They will, however, require executive buy-in and support as well as a reliable source of funding, so plan accordingly. https://www.pslcorp.com/it-outsourcing-services-companies/
The typical mindset when considering IT outsourcing partners is to look far away, but it may be more beneficial to find a neighboring team through nearshore opportunities and not just because of the usual benefits.
There’s no debating the value of outsourcing as it pertains to software development. In the NextGen Global Outsourcing Survey conducted by Deloitte, 78 percent of respondents indicated that they feel positive about their outsourcing relationship and the advantages it offers.
There are many different types of IT outsourcing services, some of which are more common than others and provide greater value, depending on your goals for outsourcing. Nearshore software development, for example, is an extension of the outsourcing industry that does have its differences from conventional applications like offshoring.
What is nearshore development and how is it different?
Conventional outsource website development involves a direct relationship with a third-party or “provider” outside of your company or team. Outsourcing is a general term that encompasses varying degrees of third-party engagement.
For instance, inshore and offshore are two separate forms of outsourcing. Inshore means you’re working with a third-party located in the same country as your business or organization, while offshore means exactly the opposite. Then there’s dualshore, which is a hybrid of the two — teams are often split between separate locations.
Comparably, nearshore is a similar concept where you’re still working with a third-party; only they’re are located in a neighboring country or region. For instance, a U.S. based company working with another party in North or South America would be a nearshore engagement.
It may seem similar, and by all rights it is, but there are some exclusive benefits of adopting a nearshore relationship as opposed to offshore or even inshore.
[MORE INFORMATION: Need to know more about managing your outsourcing partnership? We’ve got answers.]
Traditional benefits of nearshore software development
For North American based companies, nearshore development relationships with Latin America partners are particularly attractive.
For starters, time zones remain relatively similar. This is a direct improvement over conventional offshore outsourcing because there are considerable challenges whenworking with a partner or company that operates under a separate time zone. This can also hinder direct relationships and communication when you have a 12 hour difference or more, especially when collaboration hinges on prompt or immediate responses, like it outsourcing.
As PSL Corp says, “we are in the Americas, [so] we can be agile because we are awake when you are awake.” That’s exactly true when it comes to nearshore partners.
Also, because the region is similar, there are fewer language and cultural barriers to work through. You may be working with a partner in Colombia, as is common with nearshore relationships, with workers who use proper English, and live in a near identical time zone.
In fact, working with companies located in Colombia is a good move for any company considering outsourcing. According to the Global Location Services Index, which measures the suitability for outsourcing services by looking at metrics that indicate which countries display the, “strongest underlying fundamentals.” Colombia ranks 10th on the list, up 10 slots from 2016.
Then, of course, there are much lower rates or costs associated with outsourced development. In fact, lower operating costs are one of the major reasons any organization or business decides to outsource IT and software development. A whopping 59 percent of businesses cite that “cost-cutting” is the primary reason for outsourcing projects.
In Latin and South America, highly skilled programmers or developers work at much cheaper hourly rates. In these countries the average wage is already lower because the cost of living is lower, but often the local currency is weaker than the American dollar. Essentially, this means you get much more for a lot less when you choose a suitable outsourcing partner. This also happens to be what provides nearshore IT development a leg over inshore or local outsourcing and development opportunities.
But, there’s more to it than that
The benefits of outsourcing, and developing a long-term partnership with the right provider, go a long way in allowing companies to innovate and maximize performance. One way this becomes possible is by investing the money saved into R&D, making it possible to innovate faster. The other possibility is by outsourcing the non-essential items and allowing your skilled teams to focus on what they do best.
Then, there’s another way, evidenced by the responses in the Deloitte’s Global Outsourcing survey. “Some companies, [35%] for instance, look to their service providers to help them capture and integrate marketplace advances, such as tapping creative methods for improving quality and enhancing the user experience, to propel competitive advantage at a velocity they could not otherwise achieve by themselves. The savviest organizations use their providers to help them find, filter, and manage the many transformative products and services the marketplace invents to improve business performance.”
Your nearshoring partner is not just another vendor, but rather a valued partner committed to innovation and anticipating and working towards achieving shared goals. It makes sense, what’s good for you is good for them. More and more, these relationships are becoming crucial to the success of organizations. Find the right partner and start innovating, the success of your organization depends on it.
Say “yes” to those nearshore outsourcing opportunities
Despite its many benefits, many companies or teams overlook the idea of nearshore IT outsourcing. The typical mindset dictates that “outsourcing” means shipping the work far away, such as to a completely different continent in the far East.
Just be aware that’s not necessarily the case, and you can definitely find a suitable partner or collaborator in a neighboring country.
About PSL: With 30 years of experience and 500+ engineers, we focus on open and transparent long term relationships, embracing your goals as our own. Let us help you face your most complex software engineering challenges by deploying high performance outsourcing teams in your same time-zone. https://www.pslcorp.com/outsource-web-development/
KUALA LUMPUR: Data technology provider Fusionex International is targeting over 10,000 local small medium enterprises (SMEs) to adopt on its e-store platform, Fusionex’s FOR YOU, in the first 12-month of its introduction.
Fusionex Founder and group chief executive officer Datuk Seri Ivan Teh said the consolidated marketplace and online platform allows seamless connectivity between merchants and customers.
Depending on the required features and size of business, customers can opt for monthly fee packages starting from as low as RM50.
“The Fusionex FOR YOU platform features online and e-commerce capability to monitor business transactions and market their products backed by our vast accessible audiences across all sectors such as financial services, trade, manufacturing and retail globally,” he told NST Business in an interview recently.
Teh said SMEs can also take advantage on the company’s digital marketing platform that comes with the ‘FOR YOU’ package.
“This online and mobile commerce solution makes it simple for merchants to kick start selling their products and services within 24 hours of registering with FOR YOU.
“This technology infrastructure enables SMEs to deliver superior online shopping experience to their customers as it is equipped with a user-friendly interface to suit the needs of all merchants and customers,” he added.
Fusionex specialises in analytics, big data, machine learning and artificial intelligence (AI), facilitating companies with technology-driven as well as data-driven platforms and information.
Teh said ‘FOR YOU’ has an entry-level option for SMEs to embrace technology-driven business operations, which not only help them scale up their domestic operations but also to widen up geographical and demographical business opportunities.
“We offer affordable rate and a free-trial period for selected services and businesses. We want to energise SME businesses’ ecosystem and ensure growth in their sales momentum,” he said.
Teh pointed out the technology is capable of helping businesses’ evaluate its weaknesses and strengthen it in a targeted market, which could boost up its business operation.
“We will help SMEs to embrace this digital transformational journey, optimising their brand presence via social media and through digital marketing channel as well as other e-commerce platform,” he said.
He said Fusionex is focused on business innovation leveraging on its vast big data analytics, artificial intelligence and blockchain capabilities that can help SMEs revolutionise business operations by making it more efficient and cost-effective.
“Our system through a long-term operation provides SME businesses runway to increase their revenue. SMEs generally want digital transformation to stay abreast, and this is one way that we can help to accelerate their businesses growth.
“Their feedback has been extremely positive, but some need more justification in terms of return on investment and skill-sets that are required for them to learn about this new technology,” he said.
Teh said the company expects younger participation, including startup companies, as it would be easier for this age group to adopt and adjust themselves in digital transformation.
“About 85 per cent of the country’s population aged below 60, while the remaining 15 per cent falls under the experienced group. This is a good transitional phase for the country’s business ecosystem based on the mixed population groups,” he said.
Teh said SMEs need to learn new technology and upgrade them with the right competitiveness as well as digitise its operations to maximise its productivity and sustainable business continuity.
Previously listed on London Stock Exchange, Teh said Fusionex may explore the possibility of listing the company back again.
However, he said it was still premature for the company announce its listing bourse destination.
Fusionex International is pleased to announce that founder Ivan Teh has been recognized by Forbes as a key figure in the Malaysian Big Data World. The Fusionex founder and Managing Director are linked to an ASEAN-based software group, which provides solutions to firms opening up to digital transformation, in order to compete effectively in the global marketplace. Ivan Teh is well-acquainted with the struggles and difficulties associated with the start-up scene. Founders may be unable to pay themselves for many months and must work around the clock to beat the statistics.
Thanks to Teh’s perseverance, Fusionex today is reaping the benefits of creating its own software solutions. The main focus of the company is Big Data Analytics (BDA) and the Internet of Things (IoT). BDA uses advanced software coupled with massive computing power. The software examines data of various types in order to determine real patterns, associations, and trends. IoT provides sensors which have connectivity across networks, permitting them to collect data and exchange it.
According to Teh, speaking in an interview recently, “I understood what the market required in BDA and IoT, thanks to my previous experience working in multinational firms. There was a huge wave of data building up from the past few years, and effective methods of utilizing the data were needed. Through repeated attempts at solutions development and many long days, I was able to secure paying customers. My role in the company originally encompassed everything from administrative and managerial tasks to coding.”
The expectations for the use of BDA and IoT are promising ones. By 2019, the BDA market is expected to reach US$187 billion, while the IoT market will expand to US$1.7 trillion by 2020. Fusionex is positioned to capture a large portion of this market, particularly among the ASEAN nations.
Fusionex already has big-name clients using its software. Companies such as Hewlett-Packard, Daimler, Volkswagen, the Royal Bank of Scotland, United Overseas Bank, CIMB Group, MetLife and Starwood Hotels and Resorts as well as AirAsia, Kasikornbank and Resorts World are but a few examples. In fact, Fusionex, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM), has the distinction of competing with the likes of IBM, Oracle, and SAP. http://www.nbcrightnow.com/story/38616520/fusionex-founder-ivan-teh-featured-in-forbes
KUALA LUMPUR, Sept. 26 (Xinhua) — Alibaba Cloud, the cloud computing arm of Alibaba Group, has partnered with Malaysian data technology provider Fusionex to provide end-to-end cloud solutions in Southeast Asian countries.
Both parties announced the partnership Tuesday that under the partnership, Fusionex will deploy its big data solutions on Alibaba Cloud’s infrastructure, and will also become the later’s key go-to-market partner in the Association of Southeast Asian Nations (ASEAN) region.
The two companies will also join forces in driving innovation in Big Data Analytics, Machine Learning, Internet of Things and Articical Intelligence.
Alibaba Cloud’s chief executive officer Simon Hu said that Malaysia is a starting point for the partnership, and the group hopes to expand it to the entire ASEAN region.
Fusionex Ivan Teh, who also sees tremendous opportunity in ASEAN digital market said Malaysia will be the hub for the regional digital transformation.
“We have not set a timeline for the partnership, but we are looking forward to a long term relationship with Alibaba Cloud,” he added. https://about.me/ivanteh
FUSIONEX International Plc, a big data analytics solutions provider, believes that its new big data analytics solution can help the company to win more clients and gain market share.
The analytics solution, known as Fusionex GIANT, allows companies to have a holistic view of its business operations, understand trends, buyers behavior, and even predict outcomes. Unlike larger big data companies from the US or Europe, the company’s big data solutions are more user-friendly and easier to deploy.
“Our solutions may not be as powerful as some of our rivals’, but it has the features and characteristics that meets the needs of the chief executive officer, the chief information officer, and chief financial officer,” Fusionex Ivan Teh told Digital News Asia recently.
“Today, CEOs want a fast-to-deploy big data solutions, they can’t wait 18 months or more for the implementation. CIOs and CFOs want a solutions that are easy to manage, easy to use, and does not cost a lot to maintain.”
According to Teh, the new GIANT, dubbed the Fusionex GIANT 2017, is far more superior than the predecessor. He said that it is now able to make sense of trillions of data sets — making it a suitable tool for banks, stockbroking firms, hotel chains, manufacturers and others.
Like the previous version, the GIANT allows users to get key insights by just ‘drag-and-drop’. For example, dragging the company’s sales data and customers data could allow the company to find out which particular products are more popular among the young working adults.
“More importantly, the new GIANT allows user to get insights in the easiest way possible — by talking to it. The new GIANT comes with a natural language processing (NLP) capability that will perform various tasks. For example, you simply only need to tell it to show you sales number, or sales number based on region, and those data will be produced immediately,” said Teh.
“Gone are the days when you need days or weeks to generate a report.”
Penetrating the SMEs
The company also introduced its first big data analytics solutions catered to the small and medium enterprises (SMEs).
The product, dubbed ANT, is the “mini-version” of the GIANT. It has most of the features SMEs need when comes to making sense of their data.
“For a long time, the SME market has been underserved. It also has most of the features that SMEs are looking for.
Expecting strong response
In late 2016, Fusionex invited 10 companies to take part in the pilot run of the Fusionex GIANT 2017. From the 10 companies, 8 of them have already signed up for the solution.
“Our vision has always been to create innovative technology that meets the business needs of today’s market. Innovation drives growth and we strongly believe Fusionex GIANT 2017 is the answer to an IoT driven world that is in constant need of better, faster, cost optimised and commercially-feasible technology,” said Teh.
Singapore, 28 June 2018 – Fusionex, a multi-award-winning data technology provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Artificial Intelligence (AI), and Deep Learning has rolled out a data analytics solution for an institute of higher learning of high repute in Asia to elevate its market intelligence by accurately determining market demand.
An institution of higher learning that has educated students for over 30 years, the client currently has a student enrollment of more than 11,000 strong and offers courses in Accounting, Communications, Computer Science, Early Childhood Education, Economics, Engineering, Hospitality and Tourism, Law, and Psychology.
The data management solution involves capturing information from online interactions on the client’s web portal and other domains for analysis to accurately discern student interest, course relevance, potential roadblocks against enrolment, and other such acumen.
Fusionex revamped the client’s web portal, transforming it into an intelligent data gathering platform capable of tracking user data. Specifically the web portal could measure how each user uniquely interacts with it and produces insights from this data to form a true 360-degree view of each customer. It can also determine which pages failed to capture user interest, causing them to drop off from the web portal. Such insights paint a more comprehensive and precise picture regarding the fluctuating levels of interest throughout a customer’s journey as they browse through the client’s web portal.
By leveraging on such comprehensive data collection and cognitive computing capabilities, the client could also monitor patterns of visit to their web portal via social media platforms such as Facebook as well as from online ads, giving the client a better understanding of their sales conversion rates and return on advertising investment.
Furthermore, the data management solution allows for the monitoring of popular online job portals and peer web portals, granting a holistic overview of the market; enlightening the client concerning popular jobs, courses peer web portals are offering, and the shifting tides of supply and demand in the industry. Such insights can play a vital role in cluing the client as to what strategies and plans to adopt to attract prospective students.
Fusionex will be advancing the client’s online visibility and presence via Search Engine Optimization, Machine Learning, AI, and Search Engine Marketing techniques while simultaneously running the client’s solution on Fusionex Cloud, leveraging the storage flexibility and cost savings it provides.
Fusionex awarded contract from Malaysia Airlines Berhad to provide a group-wide data management platform that will increase work efficiency and ease of communications within its group.
Kuala Lumpur – February 6, 2018 —
Fusionex, a multi-award-winning, leading software solutions provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Artificial Intelligence, and Machine Learning, has been awarded a contract of significant value with Malaysia Airlines Berhad (“MAB”) to provide a group-wide data management platform that will increase work efficiency and ease of communications within its group.
MAB seeks to address the challenges encountered by its thousands of employees to work and communicate efficiently. With millions of travelers flying on MAB every month to almost 60 destinations, MAB requires a scalable platform to cope with the volume as well as complexity of data and information gathered, in MAB’s bid to better serve its customers and staff.
The platform will allow for collaboration within the company and also facilitates messaging and information sharing between employees. With all employees using the same platform, any communication, whether textual, imaging etc. would be accessible quickly and easily.
Apart from work purposes, the platform will allow employees to participate in leisure activities for an optimized work-life balance to be achieved. An enterprise social network feature will be deployed for employees to use as a social collaboration tool, in line with MAB’s objective to promote a strong and united corporate community.
Dato’ Seri Ivan Teh, Fusionex CEO, commented: “This initiative is applauded as it is targeted to bring Malaysia Airlines’ corporate performance to greater heights, as well as to foster closer communication among MAB employees. Coordinating thousands of employees with a huge amount of data across the globe is no small feat. This win showcases the vast potential for data management and data technology to empower a variety of sectors including aviation towards digital transformation, and we are delighted to be a part of this journey with Malaysia Airlines.”
Fusionex is an established multi-award winning data technology provider specializing in Analytics, Big Data, Machine Learning and Artificial Intelligence (AI). Its offerings are focused on helping clients unlock the value and derive insights from data. Fusionex is the largest Big Data Analytics company and market leader in ASEAN, bringing state-of-the-art, innovative and breakthrough data-driven solutions to its stable of clientele (including Fortune 500, FTSE companies, large conglomerates as well as a wide array of small and medium enterprises (SMEs)) that spans across the United States, Europe as well as Asia Pacific.
Fusionex has recently entered into a strategic partnership with Alibaba Cloud to drive digital transformation across the region.
Fusionex, a multi-award-winning, leading data technology provider specializing in Analytics, Big Data, Machine Learning, and Artificial Intelligence (AI), has commenced a digital insurance initiative for leading Takaful insurance company STMB. Takaful Malaysia’s online sales portal “Click for Cover” was launched at a grand ceremony and signalled the digital transformation of their business processes with Fusionex technology. The launch ceremony was officiated by Datuk Seri Johari Abdul Ghani, Finance Minister II, and marked the beginning of a seamless customer experience in purchasing and renewing insurance policies online via data-centric approach.
Leveraging Fusionex technology, Takaful’s digital insurance initiative is able to help customers process their applications, issue quotations, perform underwriting, send cover notes and e-documents via a customer-focussed and seamless online platform. The platform focuses on providing the best service to its customers, with the ability to understand each customer in a more personalized way. This is in line with Takaful’s strategy of reaching out to its prospects and customers anywhere, anytime and anyhow, while having the ability to introduce newer products and targeted features that their customers will find more useful and relevant to their specific needs.
The launch also witnessed the signing of a memorandum of agreement between Fusionex and Takaful, as well as signings between Takaful and Remark, a digital marketing company. Collaboration agreements for online distribution with Lembaga Tabung Haji (LTH) and Bank Islam (BIMB) were also signed to introduce online Takaful products to depositors of LTH and customers of BIMB.
Fusionex Group CEO Dato’ Seri Ivan Teh said, “Innovation needs to be at the core of businesses, as this differentiates the leaders versus the followers. Today, we are pleased to witness Takaful Malaysia making great strides in this direction. Fusionex is delighted to be a key partner in Takaful Malaysia’s exciting digital transformation journey, and we are confident that this initial success will lead to many more success stories with Takaful Malaysia.”
Takaful Malaysia Group CEO Dato’ Sri Mohamed Hassan Kamil said, “Today’s launch of our digital strategy plan signifies our commitment towards revolutionizing the way we will grow our business by digitally transforming our sales and operations. By embracing digital tools and technology to offer up differentiated product offerings and services, we will delight our customers with a better user experience, enhanced protection products and high quality service. Our customers will benefit from an integrated multi-channel experience and this is part of our ongoing efforts to stay ahead of the curve.”
Datuk Seri Johari Abdul Ghani, Finance Minister II stated, “Today’s launch of Takaful Malaysia’s digital strategy is very much in line with the overall digital strategy outlined by the Government in growing the digital economy.”
The “Click for Cover” portal, which is powered by Fusionex technology, provides a data-centric, easy-to-use interface for customers to access the company’s products online with e-payment facilities and real-time underwriting capabilities. “Click for Cover” has the first fully integrated medical underwriting engine online in Malaysia where rating decisions will be generated online. Currently, the portal offers Motor, Personal Accident (PA) and Medical products. More products such as Term Life, Critical Illness and Travel PA Takaful will be made available later this year.
Dato’ Sri Hassan Kamil said, “Our strategic partnership with Fusionex and Remark is in line with our business goals to make our digital strategy the key driver of our innovation efforts, thereby boosting our competitiveness and powering future growth.”
Dato’ Seri Ivan Teh commented, “In this data-driven age, embracing data technology is no longer a luxury, but rather a must if one wants to remain relevant and competitive. The ultimate goal of digital transformation is great user experience; hence it’s crucial that we work with our customers to focus on the consumer and the user journey, leveraging powerful technology. We believe that it is only through this lens and a user-centric approach will businesses be able to thrive and scale to greater heights.”