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Digital Crisis: 78% of Businesses Feel Threatened by Start-ups

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  • 78% of Businesses Feel Threatened by Start-ups

About 78 per cent of businesses believe digital start-ups will threaten their organisations, either now or in the future. This phenomenon is propelling innovative companies forward and accelerating the demise of others.  Almost 45 per cent of global businesses fear they may become obsolete in the next three to five years due to competition from digital-born start-ups.

According to new research from Dell Technologies, some companies are feeling badly bruised by the pace of change. More than half (52 per cent) of business leaders have experienced significant disruption in their industries over the past three years as a result of digital technologies and the Internet of Everything (IoE), and 48 per cent of global businesses don’t know what their industry will look like in three years’ time.

The findings result was from an independent survey by Vanson Bourne of 4,000 business leaders — from mid-size to large enterprises — across 16 countries and12 industries.

“So far, the fourth industrial revolution has proved as ruthless as its predecessors. If companies cannot keep up, they will fall behind … or worse. The ‘delay until another day’ approach simply won’t work,” explains Jeremy Burton, chief marketing officer for Dell Technologies.

According to the report, progress has been patchy to say the least. Some companies have barely started their digital transformation. Many have taken a piecemeal approach. Only a small minority have almost completed their digital transformation. Just one in three businesses surveyed is performing critical digital business attributes well. While only parts of many businesses are thinking and acting digitally, the vast majority (73 per cent) admits digital transformation could be more widespread throughout their organisations.

About six in 10 companies are unable to meet customers’ top demands, such as better security and 24/7 faster access to services and information. Nearly two-thirds (64 per cent) confess to not acting on intelligence in real-time.

“These are imperatives for success in a digital age. Failing to deliver in such a highly contested marketplace could trigger the beginning of a digital crisis,” added the result.

Dell Technologies’ Digital Transformation Index supplements the research and rates companies based on respondents’ perceived performance about their firms’ digital transformation. According to the benchmark, only five per cent of businesses have catapulted themselves into the Digital Leaders group; almost half are lagging behind.

The result showed that under Digital Leaders, only five per cent          of digital transformation, in its various forms, is ingrained in the DNA of the business while in the area of Digital Adopters, 14 per cent has a mature digital plan, investments and innovations in place.

For Digital Evaluators, 34 per cent cautiously and gradually embracing digital transformation, planning and investing for the future while 32 per cent have very few digital investments; tentatively starting to plan for the future classified as Digital Followers.

Another 15 per cent of those examined do not have a digital plan, limited initiatives and investments in place. They are referred to as Digital Laggards.

Given the acute threat of disruption, businesses are starting to escalate a remedy which it called digital remedy plan.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

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Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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