EdgeConneX, a global data center operator with regional headquarters in Singapore, is firmly set on catalyzing this shift. By deploying edge data centers across key markets in the Asia-Pacific region and forming strategic partnerships with local industry leaders, the company will establish a robust network infrastructure that aligns with recent escalating data demands through cloud and Artificial Intelligence (AI).

The APAC data center market is fit to burst

Source: Shutterstock

Kelvin Fong, EdgeConneX’s Managing Director for the APAC region, said: “Cloud technology and the increasing adoption of AI, are likely to lead to significant expansion into markets beyond the traditional APAC markets of Singapore and Hong Kong.” These new markets are developing now in India and Indonesia due to burgeoning digital transformations in their economies and throughout the region.

Mr. Fong noted that governments in Southeast Asian countries are also being more proactive and supportive towards digital infrastructure development. Leaders have picked up on how digital advancement can lay the foundation for exponential economic growth in the coming years, by attracting new skill sets, creating employment opportunities, and fostering innovation and global competitiveness.

Fiber investment has also worked as a data center investment driver. Don MacNeil, EdgeConneX’s Chief Revenue Officer, said: “Investments in fiber optics hold great significance, both domestically and across the wider region. They are notably simplifying the challenge of connectivity and adding essential network diversity.”

How EdgeConneX is reaching APAC

Malaysia

Government digitalization in Malaysia has spurred interest in expanding its data center infrastructure. Mr. Fong said: “The local government is playing a catalytic role by facilitating land sales, ensuring power availability, and streamlining administrative processes. These efforts are attracting data center operators and end-users to the area.”

Malaysia was also taking advantage of the data center moratorium in Singapore, which was only lifted in 2022, and attracted much of the country’s outbound traffic. As a result, the industries in Johor and Kuala Lumpur have seen significant growth and are now key markets.

He added that there are new opportunities for “mega-campuses” in Greater Kuala Lumpur rather than just the center, where limitations on space and power availability make it expensive. Mr. Fong said: “In fact, they have already opened up some of the technology parks just to cater to the hyper-scalers.” Last year, EdgeConneX unveiled its plans to build data centers in downtown Kuala Lumpur, Bukit Jalil in Greater Kuala Lumpur, and Cyberjaya, with nearly 300 MW of total capacity. Malaysia’s dense network connectivity, power availability, multiple port cities, and connections to 22 submarine cables position it as a strategic data center destination.

Indonesia

Indonesia is Asia’s third most populous country, and its population is still growing, so data demands are likely to continue escalating in parallel. In 2022, EdgeConneX acquired the GTN data center, which allowed the company to gain an initial foothold in its ninth market in Asia. In September this year, it secured $403.8 million in investment to support the growth of a 120 MW hyper-scale data center campus in Jakarta. As well as the capital, Mr. Fong says that Eastern Java and Batam are becoming key data center markets in Indonesia. He said: “They’re not just drawing in international demand, but also experiencing substantial domestic interest. With a thriving community of e-commerce and fintech enterprises in Indonesia, there’s a significant surge in locally-driven demand.”

China

In December 2021, EdgeConneX unveiled its new strategic partnership with leading Chinese data center provider Chayora to help expand its solutions throughout the mainland, including in Tianjin and Greater Shanghai. Tech Wire Asia recently spoke with Chayora CEO James Wei, to discover his insights on how China can sustain a thriving data center landscape going into 2024.

Philippines

In 2022, EdgeConneX forged a partnership with Aboitiz InfraCapital to capitalize on its extensive local market knowledge, as well as its land and power assets in the Philippines. Presently, discussions are underway with potential customers about breaking ground.

Mr. Fong noted: “Aboitiz brings a wealth of essential components to the table for success in the market. With ownership of power resources and real estate, as well as involvement in the construction industry, they offer crucial assets. These complement our [EdgeConneX] global data center platform, build, and operational capabilities, which is why we’ve partnered with Aboitiz.”

India

EdgeConneX has partnered with Adani Enterprises, India’s largest multi-infrastructure organization, since 2021. The joint venture ‘AdaniConneX’, has already set up a data center in Chennai and aims to build out 1 GW of data center capacity by 2030.

Mr. MacNeil stated: “Adani not only brings just the local infrastructure expertise of the Adani Group but, more importantly, the infrastructure supporting power transmission and generation. Adani Group has a similar goal for renewable, sustainable energy; to be at 25 GW by 2025, and it’s well underway. So, in many cases, India has the advantage of significant, fresh investment on all aspects – not only digital infrastructure but also the broader infrastructure requirements.”

Challenges faced by the APAC data center industry

One of the main challenges of expanding the data center industry in Asia is doing so sustainably. Getting access to renewable energy directly, rather than via carbon offsetting, can be difficult in certain countries like Malaysia, Indonesia, and Singapore. Mr. Fong said: “The region’s commitment to sustainability is evident, with countries like Indonesia and Malaysia planning to significantly ramp up their renewable energy generation in the coming years. These initiatives will eventually power the burgeoning data center industry, ensuring a greener and more sustainable digital future for Southeast Asia.”

EdgeConneX is making significant strides in sustainable data center development, even in countries where it is less straightforward. For example, the deal struck for the hyper-scale data center campus in Jakarta was explicitly for ‘sustainability-linked senior facilities’, meaning it will be equipped with sustainability capabilities. Adjustments will be made to the financing terms when EdgeConneX meets certain Key Performance Indicators (KPIs) concerning the Power Usage Effectiveness (PUE) of data centers, the use of renewable electricity, and achieving safety goals.

Looking to the future

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As Mr. MacNeil noted, “Over the next 24 months, we will see the impact of the next wave of data center expansion, driven by AI, building on the already healthy pace of growth of Cloud. All of that also driving the virtuous infrastructure expansion in connectivity through terrestrial fiber optics and submarine cable expansion – it’s exciting to be a part of this wave.”

According to the Asia-Pacific Trade and Investment Report 2023-2024, the region posted a 9 percent growth rate in digitally deliverable exports from 2015 to 2022, outpacing the global average of 6.8 percent. Now, the continuation of this growth is paired with ambitious sustainability and net-zero goals, pledged by many APAC countries including China, Japan, South Korea, and Singapore.

EdgeConneX’s strategic vision and collaborations aim not only to meet the burgeoning demands of Cloud and AI but also committed to contributing to growth in a responsible and sustainable manner across the Asia-Pacific data landscape.

Mr. Fong said: “This sets the momentum for our investments in Indonesia and Malaysia. We aim to seize this market opportunity as it begins to rise. Therefore, pinpointing the optimal locations and timing is crucial for our success in this endeavor.”

To explore EdgeConneX’s comprehensive array of cutting-edge data centers throughout the Asia-Pacific region, and to inquire about tailored data center solutions for your business, visit the EdgeConneX website today.

The post The view of APAC data centers in 2024: Trends, challenges, and EdgeConneX’s impact appeared first on Tech Wire Asia.

Raymund Chao, the chairman of PwC Asia Pacific and China, said:

“Competition continues to intensify, risks of disruption remain and societal expectations are rising, which collectively challenges the viability of every business. To truly flourish in an environment that is continuously evolving, organisations must transform and adapt at speed. One of the primary ways to help them achieve such agility is by adopting best-in-class digital technologies.”

Source: Shutterstock

Customer Communications Management (CCM) has evolved from a traditional tool for one-way communications to a pivotal component in the customer experience (CX) stack. The “experience economy” demands seamless, digital-first interactions, compelling enterprises to prioritise proactive and personalised experiences.

Along with economic challenges and shifting business priorities, companies in the Asia-Pacific region are increasingly seeing the critical role of CCM in addressing customer expectations and reducing friction across channels. This is driven by the need for cohesive, integrated platforms that leverage data, technology and human interactions to visualise and manage customer journeys effectively.

To determine the tangible impact that CCM is having on APAC businesses, Omdia (on behalf of Quadient) surveyed 419 CX-focused leaders in Singapore, Australia and New Zealand about the priority of CCM in their customer experience management (CXM) ecosystems.

When asked about the top priorities for this integration, 56 per cent of the respondents cited process automation, 54 per cent emphasised personalisation and 42 per cent said self-service. This indicates an overall shift in business priorities towards enhancing customer journeys and engagement.

About a third of the leaders in financial services, banking, telecoms and utilities said they had employed Chief Experience Officers (CXOs) to guide their CCM initiatives, demonstrating the elevated importance of successful platform deployment.

Source: Shutterstock

Across all departments, “increasing productivity gains” was cited as the primary objective for their CCM investments. This shows that CCMs are becoming key to addressing employee shortages and turnover, which has become an issue for APAC business leaders due to the out-migration of skilled workers, an ageing workforce and insufficient resources for training.

In addition to allowing companies to remain competitive, digital technologies like CCM platforms are becoming an essential line of defence against rising phishing scams and electronic fraud.

Complaints to the Australian Financial Complaints Authority (AFCA) related to scams doubled in 2023 over the previous year. A notable example was the scammer who tricked consumers out of their life savings by sending texts pretending to be HSBC Australia.

Elsewhere, the Monetary Authority of Singapore has proposed a ‘Shared Responsibility Framework’ which outlines how responsibility for phishing scam losses will be shared among the relevant financial institutions and telecommunications companies as well as the consumer. In this context, compliance, timeliness, authenticity and process automation in communications management are crucial for organisations to prioritise, not only to enhance customer experience but also to safeguard against the escalating threats of fraudulent activities.

The CCM platform organisations choose to deploy must support a seamless and personalised CX, simplify communications management, be interoperable with other customer engagement applications and defend against bad actors. A leading provider of such a solution is Quadient. By incorporating wizard-driven forms, mobile onboarding and real-time automated interactions, the Quadient Inspire CCM actively enhances customer engagement and satisfaction. It views the CX as a continuous journey by employing a customer journey map that incorporates key performance indicators (KPIs), tracks issues, conducts analysis and assigns relevant content to each stage of the customer journey.

The Quadient AI engine can suggest minor content improvements for sentiment, tone and readability, as well as more significant changes through alternative sentences and translations. On top of providing cleaner and more engaging communications, this feature ensures personalised communications with a consistent voice.

Source: Shutterstock

Quadient’s versatile deployment options, including software-as-a-service (SaaS), public cloud, on-premise or a hosted managed service, cater to diverse organisational needs. It provides the flexibility businesses need to remain profitable through difficult economic conditions. It also allows those in countries with stringent consumer data laws to maintain compliance.

Recognised for its performance and scale by customers and partners, Quadient efficiently handles large communication volumes with its Scaler engine executing multiple output delivery and processing tasks. This contributes significantly to increased productivity and, ultimately, a better employee experience.

With tedious, repetitive tasks taken off their hands, staff can hit their KPIs more quickly and concentrate on more interesting, strategic work.

To help facilitate quicker adoption and return on investment, Quadient streamlines the implementation and migration experience from legacy CCM systems with migration tools and prebuilt integrations, templates and content objects.

Discover more about how CCM is revolutionising APAC businesses by downloading the Quadient whitepaper ‘CCM’s Essential Role in the Asia Pacific CX Ecosystem’, and find out how the Inspire CCM can future-proof your business by visiting the Quadient website.

The post Why CCM has emerged as a modern concoction of digital experience, communications automation and compliance appeared first on Tech Wire Asia.

领先的数据中心提供商 EdgeConneX 和朝亚于2021年12月宣布建立战略合作伙伴关系。EdgeConneX 已经是超大规模数据中心部署领域的全球领导者，因其在全球不同市场提供顶级解决方案方面的丰富经验和熟练程度而广受赞誉。朝亚在中国开发和运营前沿的超大规模数据中心园区，以其成熟的高密度、高性能计算（HPC）完备设计而闻名，朝亚擅长提供高效、定制的数据中心解决方案，从而加速客户业务的上市速度。EdgeConneX 与朝亚合作提供最先进的基础设施解决方案，以满足日益数字化的生态系统不断增长的需求。

Tech Wire Asia 采访了 EdgeConneX 亚太区董事总经理 Kelvin Fong 和朝亚首席执行官 James Wei，了解他们对中国如何在 2024 年维持蓬勃发展的数据中心格局的见解。

TWA：是什么推动了中国数据中心行业的增长？

JW：“中国在发展和提升云、人工智能和量子计算等关键技术能力的愿望正在创造合适的条件，让各种技术创新能够在中国蓬勃发展。

“人们越来越需要数字基础设施来支持新的企业应用和用户在线服务，特别是在互联网普及率继续以健康的速度增长的情况下。2023 年初，互联网普及率约为 73.7%。到 6 月份，这一比例已增至约 76.4%。

“此外，人工智能驱动的服务和能力的爆炸式增长需要比以前更多的高密度数据中心支持。随着人工智能技术不断融入日常应用，导致对人工智能训练和推理的电力需求更大。强大的超融合基础设施（HCI）系统可提供更强大的内部部署能力和计算能力。

“由于这些新的高密度系统，机架级的能源需求预计将迅速增加。这推动了更新的解决方案设计和功能，用于提供足够的能源和足够的冷却。”

KF：“中国一直在人工智能研发方面投入巨资。机器学习和深度学习等人工智能技术的实施需要大量的计算能力，因此需要先进的数据中心。

“此外，中国政府一直在推动政务云服务的发展。中国各个电信公司在建设和维护这些政府云基础设施方面发挥着至关重要的作用，满足了对强大数据中心的需求。

“中国蓬勃发展的电子商务行业也产生了大量与在线交易、用户行为和物流相关的数据。中国数字支付和金融分析等金融科技服务的发展推动了对数据存储和处理能力的需求不断增长。

“最后，自动驾驶汽车的开发和测试在很大程度上依赖于数据处理和存储。中国在自动驾驶汽车技术方面一直在进步。此外，实时收集和分析来自传感器和摄像头的大量数据，需要强大的数据中心基础设施。”

TWA：企业如何利用数据中心获得增长机会，同时有效管理计算能力需求和挑战？

KF：“中国企业可以利用数据中心的能力来适应下一代技术，特别是人工智能。数据中心提供人工智能算法、机器学习和数据处理所需的计算资源，使公司能够提取有价值的见解并改进决策流程。

JW：“数据中心还必须跟上技术发展的步伐并采用相关的尖端系统来增强数据中心的能力和性能。”

KF：“中国企业可以利用数据中心作为创新枢纽来促进协作、创造和创新。通过创造一个鼓励实验和开发尖端解决方案的环境，中国企业可以在快速发展的技术领域保持领先地位。”

JW：“企业可以与拥有技术能力的领先数据中心运营商合作，提供具有市场领先能量使用效率（PUE）的高效设计。在此过程中，企业可以采用根据具体要求量身打造的定制数据中心部署，以最大限度地减少效率低下的情况。”

TWA：据您所知，客户是否积极寻求节能解决方案，特别是那些旨在实现低 PUE 值的解决方案？

KF：“低 PUE 值的重要性取决于所涉及的具体技术。例如，在涉及人工智能训练的应用中，延迟不是关键因素，重点往往会转向优化计算机性能，而不是尽量减少延迟。在这类情况下，管理 PUE 值变得至关重要，许多客户探索各种策略，例如采用可再生能源来增强可持续性。

“此外，投资太阳能或风能等可再生能源可以带来长期成本节约。通过采用可再生能源，中国企业可以为更加稳定和可持续的商业模式做出贡献。”

TWA：您如何看待朝亚与 EdgeConneX 之间建立合作伙伴关系来支持中国不断增长的数字基础设施需求？

JW：“[通过]利用彼此最好的数据中心专业知识和能力。EdgeConneX 在全球超大规模部署方面拥有丰富的经验，而朝亚是中国[本土]平台和市场专家，拥有深厚的本地关系。由于朝亚很熟悉中国数据中心生态系统，我们可以快速执行。

“我们共同提供了一个完整的全球超大规模数据中心平台，涵盖 50 多个最热门的市场，随时随地满足企业的扩张需求。”

KF：“随着中国企业踏上全球扩张之旅，与强大的合作伙伴合作对于精简化这个扩张过程至关重要。这一战略联盟有潜力提供宝贵的专业知识、必要资源和专业服务，从而支持中国企业在数字领域的国际化努力。

“汇集我们的优势，我们可以利用双方顶级数据中心无与伦比的知识和能力。朝亚对中国数据中心的生态系统的熟悉程度将使我们能够快速执行。我们的合作伙伴关系将加速我们的集体成功。

“此外，两家公司都在积极培养自己在高性能计算解决方案方面的能力。这种融合符合我们的共同目标，并针对‘东数西算’战略建立了理想的双赢局面。”

要了解更多关于京津数据中心园区的信息，请访问：https://www.edgeconnex.com/locations/asia-pacific/tianjin/

有关大上海数据中心的更多信息，请访问：https://www.edgeconnex.com/locations/asia-pacific/shanghai-data-center-campus/

The post 中国迈向2024年数字化技术先进时代的征程：对话 对话EdgeConneX和朝亚 和朝亚 appeared first on Tech Wire Asia.

Source: Shutterstock

Leading data center providers EdgeConneX and Chayora unveiled a strategic partnership in December 2021 to expand their solutions throughout mainland China, including Beijing and Shanghai.  EdgeConneX has carved its niche as a global leader in hyperscale data center deployments, recognized for its extensive experience and proficiency in delivering top-tier solutions across diverse markets worldwide. Chayora is a trailblazer in data center innovation in China, renowned for its proven high-density, High-Performance Computing (HPC)-ready designs. The company excels in delivering efficient, customized data center solutions, allowing unparalleled speed to market. The collaboration between EdgeConneX and Chayora provides state-of-the-art infrastructure solutions in China that cater to the burgeoning demands of an increasingly digitalized ecosystem.

TechHQ spoke with Kelvin Fong, the Managing Director of EdgeConneX Asia Pacific, and James Wei, the CEO of Chayora, to uncover their insights on how China can sustain a thriving data center landscape in 2024.

THQ: What is driving the growth of the data center industry in China?

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JW: “The country’s desire to develop and advance capability in key technologies such as cloud, AI, and quantum computing is creating the right conditions for tech innovations to bloom and flourish in China.

“There is growing demand for digital infrastructure to power new business applications and online services for users, especially as internet penetration continues to grow at a healthy rate. At the start of 2023, internet penetration was about 73.7 percent. By June, it had increased to about 76.4 percent.

“In addition, the explosion of AI-powered services and capabilities requires more high-density data centers than before to support. The continued integration of AI technologies into everyday applications will culminate in greater power demand for AI training and inferencing. Powerful hyper-converged infrastructure (HCI) systems deliver more powerful on-premises and computing capabilities.

“Power demands at the rack level are expected to increase rapidly due to these new high-density systems. This drives newer solution designs and features to provide enough power along with adequate cooling.”

KF: “China has been investing heavily in AI research and development. The implementation of AI technologies, such as machine learning and deep learning, requires significant computational power, driving the need for advanced data centers.

“Furthermore, the Chinese government has been promoting the development of government cloud services. Chinese telecommunications companies play a crucial role in building and maintaining these government cloud infrastructures, contributing to the demand for robust data centers.

“The booming e-commerce industry in China also generates massive amounts of data related to online transactions, user behavior, and logistics. The growth of fintech services in China, such as digital payments and financial analytics, contributes to the increasing demand for data storage and processing capabilities.

“Finally, the development and testing of autonomous vehicles rely heavily on data processing and storage. China has been making strides in autonomous vehicle technology. Further, collecting and analyzing vast amounts of data from sensors and cameras in real-time require robust data center infrastructure.”

THQ: How can businesses utilize data centers for growth opportunities while effectively managing computing power demands and challenges?

KF: “Chinese businesses can harness the power of data centers to accommodate next-generation technologies, particularly AI. Data centers provide the computational resources needed for AI algorithms, machine learning, and data processing, enabling companies to extract valuable insights and improve decision-making processes.

JW: “They must also stay abreast of technological developments and adopt relevant cutting-edge systems to enhance data center capabilities and performance.”

KF: “Chinese businesses can foster collaboration, creativity, and innovation by leveraging data centers as innovation hubs. By creating an environment that encourages experimentation and the development of cutting-edge solutions, they can stay ahead in the rapidly advancing tech landscape.”

JW: “Businesses can partner with leading data center operators with the technical capabilities to deliver efficient design with market-leading power usage effectiveness (PUE). In doing so, they can adopt customized data center deployments tailored to exact requirements to minimize inefficiencies.”

THQ: To your knowledge, are customers actively pursuing energy-efficient solutions, particularly those aimed at achieving a low PUE?

KF: “The importance of low PUE varies depending on the specific technology involved. For instance, in applications that involve AI training, where latency is not a critical factor, the focus tends to shift towards optimizing computer power rather than minimizing latency. In these cases, managing PUE becomes crucial, and many customers explore strategies such as incorporating renewable energy sources to enhance sustainability.

“Furthermore, investing in renewable energy, such as solar or wind power, can lead to long-term cost savings. By adopting renewable energy sources, Chinese businesses can contribute to a more stable and sustainable business model.”

THQ: How do you see the partnership between Chayora and EdgeConneX supporting China’s rising demand for digital infrastructure?

JW: “[By] leveraging the best-of-the-breed data center know-how and capabilities from each other. EdgeConneX has extensive experience in global hyper-scale deployments, while Chayora is the China [native] platform and market expert with deep local relationships. We can execute quickly through Chayora’s familiarity with the Chinese data center ecosystem.

“Together, we provide a complete global hyperscale data center platform spanning over 50 of the hottest markets, spring-boarding businesses’ expansion where and when they need it.”

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KF: “As Chinese enterprises embark on their global expansion journey, collaborating with a robust partner becomes pivotal in streamlining this process. This strategic alliance has the potential to provide invaluable expertise, essential resources, and specialized services, thereby bolstering the internationalization endeavors of Chinese companies operating in the digital sector.

“Pooling our strengths, we can harness the unparalleled knowledge and capabilities of top-tier data centers from both sides. Leveraging Chayora’s familiarity with the intricacies of the China data center ecosystem will enable us to execute swiftly. Our partnership is poised to accelerate our collective success.

“Moreover, both organizations are actively cultivating their proficiency in high-performance computing solutions. This convergence aligns with our shared objectives and establishes the ideal win-win scenario for ‘East Data and West Computing’.”

For more information on the Beijing-Tianjin Data Center Campus, please visit here.

For more information on the Greater Shanghai Data Center, please visit here.

The post China’s journey towards a digitally advanced 2024: In conversation with EdgeConneX and Chayora appeared first on Tech Wire Asia.

Data center builders and operators are drawn to Indonesia’s strategic location in the Asia Pacific region, abundant land and power resources, and youthful and tech-savvy population. Furthermore, the government’s supportive policies have created an enabling environment for technology sector investments.

Shifting tides and market dynamics

Indonesia’s data center market, once characterized by an unwavering upward trajectory, is now facing pressing questions about the sustainability of its burgeoning demand for data. Take-up from large enterprises of cloud services has continued. However, major cloud platforms are looking to individual consumers for growth alongside businesses, tapping into their near-constant application use for everyday needs and streaming content. Artificial intelligence (AI) is a growing factor in new deployments, driven by the scalable and relatively low-cost power available locally.

Indonesia’s data center market remains resilient, supported by robust network connectivity, diversity, and strong demand for data services. As the market continues its rapid growth, it remains to be seen if power availability will continue to match or if constraints seen throughout much of Asia will appear in Indonesia.

Source: Shutterstock

Exploring new frontiers

Beyond the confines of the Greater Jakarta area, Indonesia’s data center market is venturing into new territories. Batam Island has emerged as a potential data center hub thanks to its proximity to Singapore. However, its development has been hampered by the sluggish pace of infrastructure development and power availability, posing significant challenges to its integration into the broader data center ecosystem.

Long-term prospects amidst short-term challenges

The nation’s long-term growth prospects remain bright. Propelled by a growing population, a flourishing digital economy, and a stable political climate, Indonesia is a compelling contender within the global data center landscape.

The thriving digital economy, projected to reach a gross merchandise value of $360 billion by 2030, will be a crucial driver for sustained demand. Additionally, enticing government incentives, such as tax reductions for data-related industries, will further boost investment.

The Indonesian government’s ambitious digital transformation initiatives, including the complete digitalization of its services by 2025, will also lead to a sharp increase in demand for data services. Progressive data protection regulations will also create a mature environment for long-term development.

However, the political uncertainty surrounding the 2024 presidential elections poses a potential obstacle. Navigating this transition period effectively will require a delicate balance between addressing short-term challenges and capitalizing on the country’s long-term technological advancement potential.

Moving forward: A path to success

Indonesia’s data center market stands at a crossroads, grappling with a multitude of challenges while poised to seize many opportunities. Navigating the shifting tides of the market demands a nuanced understanding of the intricate dynamics, a commitment to innovation, and a strategic approach that balances between short-term obstacles and long-term ambitions.

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As the industry evolves, collaboration among stakeholders, infrastructure development, and adaptable business strategies will emerge as pivotal factors propelling Indonesia’s data center market towards sustained growth and relevance on the global technological stage. By embracing these essential elements, Indonesia can secure its place as a leading player in the international data center landscape, driving economic growth and shaping the future of digital connectivity.

For more information on EdgeConneX Indonesia, please visit here

The post Navigating challenges and unveiling opportunities in Indonesia’s data center market appeared first on Tech Wire Asia.

Smaller businesses must find some way to sustain their profitability or face market exclusion and eventual closure. One such lifeline is the presence of Chinese suppliers which offer access to a wide array of products at competitive prices. In February, the country reported that its manufacturing activity had expanded at the fastest pace in more than a decade.

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The allure of these suppliers lies primarily in their ability to offer cost-effective manufacturing solutions without compromising quality. Small businesses can expand their product ranges, maintain margins, and acquire unique items that set them apart from mainstream marketplaces. Business owners can access these suppliers through online B2B marketplaces, like 1688, or may choose to travel in person to trade fairs in China, like the Canton Trade Fair. At the fair, an array of China-produced products are showcased by their manufacturers, many of which could spur business growth. Approximately 200,000 foreigners attended the November 2023 event in person, and the online platform was attended by 6.6 million overseas visitors.

1688, an Alibaba Group business, serves as a B2B platform connecting international manufacturers and wholesalers with wholesale buyers in China. Specialising in diverse industries like apparel, electronics, and home furnishings, it facilitates sourcing and online transactions, providing businesses with access to a broad range of products for bulk purchasing.

“We decided to start sourcing from 1688 as we found there was a huge range of factories from China on this platform that can really enable savings from their competitive costs, without making any compromises on quality,” said Mark Brookfield from Sunrise Accessories. “We could select products that are in the range of goods that we usually buy to wholesale in Australia.”

The challenges of switching suppliers

Travelling to China to source new suppliers can be expensive for Australian and New Zealand businesses, especially when it comes to attending trade fairs of global interest that last weeks. It involves the costs of travel, accommodation, and time spent away from managing the day-to-day operations of their business. The language barrier can hinder face-to-face negotiations, while cultural differences and differing business practices might complicate agreements and contracts. Even conducting business purely online can be subject to the same problems.

After a deal is struck, things may not necessarily be smooth sailing. Vetting suppliers for quality, reliability, and ethical standards to ensure compliance with bodies like the Australian Competition and Consumer Commission (ACCC) is crucial but also challenging from a distance. Coordinating logistics, ensuring quality control, and managing shipping and customs processes add layers of difficulty, too.

Reliance on foreign suppliers, particularly those in China, introduces risks related to geopolitical tensions, trade regulations, and unexpected disruptions such as those seen during global crises or natural disasters. For example, in August 2022, a heatwave in the country led global manufacturers like Volkswagen and Foxconn to suspend their operations to save power after a spike in demand for air conditioning put pressure on the local grid. Issues like intellectual property protection and maintaining ethical manufacturing practices also pose challenges when dealing with suppliers from different countries.

Despite the risks, Australia and China continue to have a strong relationship, with a study by the University of Melbourne finding that 58 per cent of Australian companies still identify China as a top three priority for global investment. Indeed, in November 2023, Prime Minister Anthony Albanese visited China and said that “significant progress” was made in relations after talks with President Xi Jinping. China is also planning to remove tariffs on a number of Australian products to help improve the relationship between the countries.

Easing the transition with WorldFirst

While the source of some challenges may be out of a business’s hands, steps can be taken to ease the transition to Chinese suppliers. Choosing to do business remotely and hiring local sourcing agents can reduce travel costs and marginalise unreliable suppliers. Human translators are also vastly more valuable than online tools for communication, and the risk of unexpected supply chain disruptions can be mitigated by diversifying product lines, conducting thorough risk assessments, and keeping abreast of geopolitical developments.

Source: Shutterstock

But an integral part of success is the smoothing over of international payment processes to ensure that business owners deal with invoices efficiently and suppliers are paid quickly. Paying manufacturers in their local currency eases the financial burden of currency conversion fees and FX fluctuations, improves supplier relations and trust, and enhances operational efficiency – ultimately giving businesses more scope to tackle other challenges they cannot prepare for.

Leading global fintech company WorldFirst connects businesses around the world with fast and affordable payments, and offers an easy way to achieve smoother commerce with its World Account, explicitly designed for cross-border businesses trading in multiple currencies. With their World Account you have access to local sort codes, account numbers, and IBANs, working to reassure partners, minimise conversion charges, and reduce fees associated with cross-border trade. They also aid businesses in currency risk management by offering tailored hedging solutions, enabling e-commerce businesses to protect themselves from currency volatility and maintain stable pricing during economic uncertainty.

WorldFirst is currently the only provider in the market to connect to the cross-border payment solution for 1688. This purpose-built link to 1688’s network of ten million suppliers in 1,700 categories provides businesses with direct access to a wide array of products at competitive wholesale prices.

The integration also supports global selling on major marketplaces like Amazon, Wish, AliExpress, Lazada, and Shopee and facilitates direct deliveries to warehouses in China or international shipments managed by logistics partners. Online sellers can pay suppliers and collect from various marketplaces all within a single account, making reconciliation and preparation of tax returns much simpler. Furthermore, once the World Account is synched to Xero or NetSuite, businesses benefit from streamlined financial management, saving on time and accountancy fees.

Source: Shutterstock

With WorldFirst’s competitive exchange rates and transparent fees at lower rates than local banks, businesses can optimise costs while ensuring swift and reliable payments. There are no transaction size limits or hidden charges, and payments are transferred on the same day and fully comply with international trade regulations.

“WorldFirst has been a great help with this transition as we found most of the smaller factories in China did not have US accounts to pay their invoices,” said Mr Brookfield. “This way we could transfer CNH straight to their Chinese account, which is much easier for us.”

WorldFirst is a global fintech that connects businesses around the world with fast and affordable payments, access to international marketplaces, flexible currency risk management tools, working capital, and a deeper understanding of cross-border payments and global markets. The latter enables its relationship managers to provide insights into payment trends and preferred trading methods in different regions, helping businesses adapt their strategies. The Australia-based team is ready to help with any inquiries or visit the WorldFirst website, or for more information. Discover how you can take advantage of overseas suppliers with WorldFirst today.

The post The rise of Chinese sellers in sustaining small business profitability appeared first on Tech Wire Asia.

These favorable factors have prompted businesses to expand their IT budgets. In 2021, the Philippines’ internet economy doubled to $17 billion, and it is expected to reach $40 billion by 2025, driven by various government initiatives and the continued acceleration of digital adoption.

As the country’s internet economy grows, so does the demand for data center services. Today, data center capacity in the Philippines is concentrated in the Greater Manila metropolitan area, but cities like Cebu and Davao are catching up rapidly.

The Philippines offers tremendous potential for data center operators and developers to succeed, supported by four key pillars.

1. Enabling faster cloud adoption by businesses

The Philippine digital economy is growing amid an increased adoption of cloud services by businesses looking to improve their operations, reduce their IT costs, and cater to consumer demand for novel services.

Post-pandemic, the e-commerce sector in the Philippines has experienced promising growth driven by increased smartphone adoption and internet penetration, which reached an estimated rate of 55.82 percent in 2022. As digital consumers embrace e-commerce – with 88 percent already doing so, according to e-Conomy SEA Research 2022 – business and consumer demand for robust cloud adoption continues to rise.

In addition, the government has plans to fortify and improve broadband connectivity nationwide. Data centers are a vital link between cloud adoption and economic regeneration, with each component mutually supporting the other.

Lastly, the Philippines has been actively nurturing a startup ecosystem, providing a platform for developing innovative enterprises. These startups rely heavily on data usage for various operations, from product development to artificial intelligence and user experience development.

2. Instituting favorable government policies for digital transformation 

The Philippine government has fostered a favorable regulatory environment to encourage data center growth, driven by a focus on promoting economic growth through job creation, investment flows, and a robust digital transformation agenda. Initiatives, such as the National Broadband Program and the Digital Philippines campaign, are aimed at improving the country’s digital infrastructure and supporting the growth of the IT industry, including the data center market.

Last year’s amendments to the Foreign Investments Act have played a crucial role in making the Philippines a digitally hospitable environment for people and businesses. These amendments, combined with streamlined bureaucratic processes, increase the Philippines’ attractiveness to foreign investors and position it to receive foreign direct investments. With increased resources and capital from foreign investments, businesses have a greater capacity to implement advanced cloud technologies into their operations and services.

Data centers are a vital component in supporting the government’s pursuit of a flourishing digital economy and are backed by various initiatives; these policies are aimed at driving stronger economic growth.

3. Building a renewable energy infrastructure

A steady supply of power is critical for data centers. The Philippines is making significant strides in developing its sustainable energy infrastructure and actively promoting renewable sources, such as wind and solar power. The country’s ‘National Renewable Energy Program for 2020-2040’ aims to generate half of the country’s power from renewable energy by the end of 2040. Numerous renewable energy projects are underway, projected to increase the combined solar and wind power by 15-fold by 2030. Industry players in the data center sector consider these developments crucial in maintaining the delicate balance between reliability, reducing carbon footprints, and lowering costs.

4. Developing a robust telecommunications infrastructure

The Philippines has a robust telecommunications infrastructure with an extensive fiber optic network. With ongoing subsea cable developments seven trans-pacific cables will connect the Philippines to the US by next year. Notable networks include Bifrost, Jupiter, and AAG. Furthermore, the Philippines government has collaborated with Facebook to implement the significant subsea cable Pacific Cable Light Network (PCLN), which will provide rapid internet services to the Philippines, matching the speed at which telecommunications giants operate. These developments and projects position the Philippines as a flourishing telecommunications location in the APAC region, supporting the country’s growing demand for data center services.

With Filipinos clocking in the region’s highest average of internet use per day, averaging almost four hours daily, the Philippines has the potential to become a hub of innovation and a key player in the APAC region. The country’s business environment and government policies provide a fertile ground for developing the data center industry, poised to play a crucial role in shaping the country’s digital future.

The post Cloud to the Islands: How the Philippines is positioning itself as a data center hotspot appeared first on Tech Wire Asia.

Home to 1.5 billion gamers, APAC is the fastest-growing gaming region in the world with a US$70 billion gaming market, presenting endless opportunities for existing players to gain a more significant market share. With over 3 trillion views of gaming-related content in 2022 alone, TikTok has become the global destination for diverse audiences to tell new stories, discover new games, and influence cultural trends as part of a larger gaming community.

For TikTok, it’s all about leveraging three trend forces to connect with its audiences: actionable entertainment, making space for joy, and community-built ideals.

Gamers on TikTok actively engage with content, seeking more information about products and brands, and inspire each other through fan edits, animations, and cosplay. This dynamic allows marketers to creatively repurpose in-game footage using popular CapCut templates, engaging audiences in a manner native to the platform.

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From engagement to conversion: Marketers harness the power of TikTok’s platform

According to TikTok’s “What’s Next: Gaming Trend Report“, 41% of its users are motivated by joy when making purchases, turning to TikTok for relaxation and entertainment. As TikTok provides a space for relatable content that highlights the fun of gaming, marketers can spark conversation with audiences and collaborate with relevant creators to bring new ideas to life using tools like Voting Stickers and TikTok Creator Marketplace.

77% of global users appreciate brands creating new challenges, trends, or memes for others to participate in, feeling a closer connection on TikTok compared to other sites and apps. With these three trend forces driving TikTok’s approach, the company collaborates closely with businesses to craft compelling gaming content that captures and sustains the audience’s interest.

Tech Wire Asia had the opportunity to speak with Maayan Kotler, Head of APAC Gaming at TikTok for Business, on how gaming is shaping the future of entertainment. By doing so, she shared some examples of gaming content that utilizes relatable voices and fresh storytelling formats – like VNG Corporation, one of Vietnam’s top mobile game publishers. The team was looking to launch a new multiplayer online role-playing game (MMORPG), Revelation, in February 2023.

According to Kotler, the team established a presence on TikTok to generate awareness and increase organic traffic before the launch. For the pre-registration phase, VNG strategically executed App Pre-Registration campaigns, initially focusing on a critical market before expanding to others. This approach helped identify potential players and build excitement around the game.

Maayan Kotler, Head of APAC Gaming at TikTok for Business, speaks on how gaming is shaping the future of entertainment. (Source – TikTok)

“During the launch stage, VNG employed an optimized app campaign setup,” said Kotler. “They utilized the App Profile Page for iOS-specific campaigns and Campaign Budget Optimization for both iOS and Android campaigns. These tactics were instrumental in achieving efficient conversion maximization and delivery volume.”

The creative aspect was equally compelling. VNG used vertical immersive storytelling by developing a range of TikTok-first creatives, showcasing game characters, gameplay clips, and local influencers in each targeted market. These captivating visuals were designed to drive installation conversions.

The results of this campaign were exceptional. She noted that in Vietnam, VNG exceeded expectations with a 54% lower-than-target cost per install (CPI) and an impressive 313% higher-than-target volume of installs. Similarly, in Thailand, the Philippines, and Indonesia, VNG achieved install volumes 1.8 times higher than their key performance indicator (KPI), solidifying the triumph of the game’s launch campaign in Southeast Asia.

Humor meets gaming: How TikTok levels the field for gamers and developers

TikTok is known for its platform, allowing users to express their personalities through dancing, humor and jumping on recent trends – or even shopping. But how do these factors even correlate with gaming? According to Kotler, on TikTok, gamers and developers are on a level playing field, connecting and sharing ideas quickly. Developers can establish a closer bond with their audience by engaging with the community and infusing humor.

“Globally, we found that TikTok users are 1.4 times more likely to credit humor in a creator’s sponsored video as a motivation for purchasing intent, gaming creators and brands are finding success with playful, humorous content that shows they do not take themselves too seriously,” she added.

Using humor in content creation, in general, can elevate campaigns into engaging pieces of entertainment that capture attention and leave a lasting impact on consumers and brands. There’s joy in discovering unique and entertaining content. Brands can tap into this by incorporating humor, leading to higher user engagement in likes, comments, and shares.

This organic interaction fosters a sense of community and extends the reach of content through social sharing, ultimately boosting its overall effectiveness.

A user leverages TikTok for entertainment. (Source – Shutterstock)

It’s safe to say that gaming has become a broader dedicated lifestyle or aesthetic, rather than just an activity. Users are interested in going behind the screens to learn more about a creator’s unique gaming setups and personal stories. This is something that marketers can take advantage of to feel more “connected.”

Marketers can elevate their impact by crafting creative strategies that revolve around the expectations of relevant communities, resulting in authentic content that profoundly resonates with target audiences and leaves a lasting impression.

According to Kotler, an effective method is building trust among the target audience by actively engaging within their community. By immersing themselves in these spaces, brands can better understand their audience’s needs and preferences, enabling them to create more meaningful and relatable content.

“At the same time, marketers should also feel inspired to venture into new territory on TikTok,” she emphasized. “It is important to explore crossovers with other popular communities and subcultures to show new sides to the brand. This openness allows brands to establish cultural resonance, forging connections with untapped audiences and expanding their reach to potential customers they may not have reached before.”

How TikTok trends influence business outcomes through gaming

It used to be that once a player reached the end of the game’s storyline, the only way to get more enjoyment out of it was to wait for updates and paid expansion packs that would offer new levels or customization options. However, it’s different now with how TikTok works with gaming by providing limitless inspiration to keep the fun going on players’ own terms.

Gamers now turn to TikTok for community challenges and mods that showcase innovative ways to play, allowing for some excitement and creativity.

Hence, businesses should also consider jumping on the trend; it presents a valuable opportunity for businesses to tap into the thriving APAC gaming market. By strategically leveraging various curated solutions on the platform, publishers can enhance their reach and connect with the gaming community on a deeper level.

According to Kotler, TikTok’s in-feed ad tells a brand’s story in a true-to-TikTok way with a sound-on, vertical video ad that can be further enhanced with interactive add-ons. Top View impacts in-feed with the first ad a user sees when they open the app, building massive awareness in the gaming community. In addition, TikTok also offers a variety of tools for making TikTok-first creations.

Usually, the creativity, perspectives and trends on TikTok originate from the vibrant community of users and content creators who continuously push boundaries and experiment with new concepts. More often than not, these trends have a universal appeal and gain momentum as users participate and put their creative flair into the mix.

“In the context of businesses, this has allowed us to create an environment where they can tap into the creative energy and trendsetting potential of the TikTok community to forge meaningful and authentic connections with audiences, leading to sustainable growth and success in the dynamic gaming landscape. We offer valuable insights and analytics that allow them to stay ahead of trends, remaining competitive and relevant to audiences. In doing so, we hope to provide them with a powerful tool to connect with their audience, adapt to changing consumer preferences, and drive innovation for growth,” she explained.

When asked about the trends TikTok anticipates in the future of gaming, and how marketers can prepare for these changes, Kotler stated that the gaming landscape has been constantly evolving. This means exploring new avenues and experimenting with diverse approaches to market these innovative gaming experiences effectively.

“By being open to innovation and staying ahead of the curve, marketers can position themselves at the forefront of this exciting era, reaching users who are eager to explore and immerse themselves in these evolving virtual realms,” she added.

Marketers must be willing to test different strategies to deliver compelling and relevant campaigns. By understanding the changing dynamics of user behavior and preferences in this digital revolution, brands can forge authentic connections and drive meaningful engagement to capture the attention and loyalty of their target audience.

The speed of TikTok trends: Challenges and opportunities for marketers

Though it won’t be easy, there will be challenges and opportunities that marketers will face when trying to engage with the gaming community on TikTok. According to Kotler, one of the most significant challenges, which also presents an opportunity, is the speed at which trends evolve on TikTok.

As many trends are heavily influenced by user behavior, marketers must continuously observe the platform’s major cultural shifts and understand the evolving community. To navigate this dynamic landscape, marketers should leverage tools such as TikTok Creator Marketplace and TikTok Creative Center, which offer unique opportunities for brands to stand out and make a lasting impact on the platform.

Within TikTok’s diverse ecosystem, vibrant communities like #Gamer exemplify the potential for creativity and genuine connections. With 169.6 billion views accumulated, the #Gamer community offers an unparalleled opportunity for marketers to connect with a vast and passionate gaming audience. Moreover, the #Gamer community is one of many thriving subcultures within TikTok’s diverse ecosystem.

“Marketers have the freedom of exploring an array of other passionate communities to expand brand reach and tap into other communities with aligned interests. This diversity allows them to tailor their approach and engage with audiences on a more personal level, fostering stronger connections and greater success in the ever-evolving landscape,” she concluded.

The post Gaming + TikTok: How APAC became the center of actionable entertainment appeared first on Tech Wire Asia.

Remember Nick Fury’s AR windshield heads-up display, which he used to answer calls, maneuver through traffic, and inspect the vehicle’s systems? The Avengers and other films like them have shown how AR/VR completely transform how audiences and filmmakers watch movies. However, they are not only being used for a film. From gaming and entertainment to education and training, AR/VR technology is being used in various industries to create immersive and engaging experiences that were previously unimaginable – and the APAC region is accelerating this adoption.

The APAC region has seen significant growth in the adoption of AR/VR technologies in recent years. Many countries in the region, such as China and South Korea, have invested in AR/VR research and development and are home to many companies specializing in these technologies.

According to the latest release of IDC’s Worldwide Augmented and Virtual Reality Spending Guide, APAC spending on AR/VR solutions is anticipated to reach US$ 14.8 billion by 2026, rising at a CAGR of 40.1%.

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A significant portion of VR spending comes from the consumer sector, which is anticipated to exhibit a similar trend throughout the projected period. However, expanding commercial use cases, such as those involving training, teamwork, and metaverse-related activities, are anticipated to present significant growth prospects.

Historically, AR solutions have satisfied businesses’ designing and troubleshooting requirements, and this trend will continue over the predicted period. However, new products introduced by several vendors in the forecast’s later years are anticipated to provide the consumer market with new options for its needs in terms of entertainment and personal productivity.

“AR/VR technology is set to transform how we live, work and play,” said Dr. Lily Phan, Future of Work, Research Director, IDC Asia/Pacific. The technology has opened new opportunities for gaming, entertainment, consumer, healthcare, manufacturing, education and many more. As the technology gets more perfected and the metaverse is more embedded in the future of work, spending on AR/VR will see strong growth rates of up to 40% in the next few years.”

Industries that are investing in AR/VR technology

Among the 19 commercial businesses IDC tracks, discrete manufacturing, education, professional services, healthcare providers, and personal and consumer services accounted for more than 66% of overall spending in 2022.

In 2022, training became the primary use case for personal and consumer services, healthcare, and discrete manufacturing. Professional services displayed the highest CAGR of 41.5% due to the growing need for more effective collaboration that facilitates sharing and engagement across the entire organization. Similar trends for collaboration use cases were also seen in healthcare, which is anticipated to cost US$ 44.7 million by 2026. 360-degree educational video viewing (post-secondary) emerged as the most promising use case during the predicted period, with a CAGR of 48.1%. AR/VR technology will provide a more immersive learning environment by enabling information virtualization, fostering students’ ability to innovate, solve problems, and think analytically.

AR/VR spending in APAC to reach US$ 14.8 billion, driven by remote meetings, training, and collaboration. (Source – IDC)

The introduction of the metaverse gives the AR/VR business a boost. Six key markets—entertainment, social, education, financial, and work—will be impacted by AR/VR, AI, cloud, and blockchain technologies. As the metaverse will significantly rely on AR/VR solutions to create an engaging and immersive user experience, metaverse gateway, applications, and accessories should be built around AR/VR platforms.

The lack of competitive rivalry and recent technological investments made by Meta in AR/VR technology are anticipated to encourage other businesses, including Sony, Apple, and Pico, to enter the market in the later years of the forecast period, providing promising growth opportunities for new players and a wide range of choices for consumers.

According to Abhik Sarkar, a market analyst with IDC Asia/Pacific IT Spending Guides, Customer Insights & Analysis, Web3 and metaverse are essential factors influencing new business goals.

“The entertainment industry will likely be disrupted the most as virtual entertainment becomes more polarized. The metaverse development will also help improve marketing and digital economy as eCommerce will continue to showcase accelerated growth due to immersive and comprehensive customer experience.” Sarkar added.

The post AR/VR technology spending in APAC to reach US$ 14.8 billion appeared first on Tech Wire Asia.

APAC organizations in the financial services industry deal with various critical data challenges, such as trouble accessing data, getting it in the proper format, and using it to drive decision-making. For finance organizations trying to keep track of every customer interaction or achieve complete near-real-time visibility across the business, the rapid increase in the volume of customer and business data being generated, combined with the dispersion of data across a wide variety of applications and data silos, creates additional challenges.

It is evident that becoming a data-led organization is significantly more complex than business leaders might anticipate, and getting the correct data to meet crucial business objectives is getting more and more challenging. Within a company, data is frequently dispersed across several systems and silos and kept in various inconsistent forms, formats, naming conventions, and metadata.

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While ransomware and other cyberattacks frequently target financial services, the sector is dealing with much more severe problems internally.

According to a recent InterSystems study titled “The Top Data and Technology Challenges in Financial Services Across Asia Pacific,” 98% of organizations have data and application silos, and 87% of APAC financial services organizations find it challenging to use their data to drive decision-making.

The report looks into financial services organizations’ main data and technology issues and their primary data efforts and goals. Financial services firms in the commercial, investment, and retail banks are covered. In addition to the US and Europe, responses to the study came from Singapore, Hong Kong, Malaysia, Australia, New Zealand, and other countries.

Other key findings include the inability to report on all pertinent data (36%), the inability to obtain the data from all required sources (35%), and the delayed access to the data (34%). These data issues have severe ramifications and can affect a company’s capacity to provide quality customer service.

Data management challenges faced by APAC financial services organizations

Data access must be streamlined and improved if financial services are to expand. Firms obtaining obsolete data as a result of delayed access produce inaccurate results. What’s even worse is that, absence of pertinent data forces company executives to make assumptions and compromise on information accuracy, which has a negative effect on decision-making.

According to Kenneth Kuek, Country Lead at InterSystems, the APAC financial services industry is still in the incremental stage of digital transformation and technology. However, it is encouraging to see financial institutions concentrating on utilizing technology to meet shifting customer demands.

“Overcoming their data management challenges will be the key to financial services providers’ success in the coming years,” he said. “The challenges largely stem from overly complex data infrastructures, implemented with a disjointed set of technologies and applications. This leads to silos that make it difficult to obtain information and insights in a timely manner, and in a way that is easy to interpret and share.”

Kuek noted that by offering an integrated source of information, architectural approaches like data fabrics could speed up and simplify access to diverse data across the company, helping to address data silo issues and get up-to-date data. 79% of respondents in APAC indicated they would consider deploying a data fabric after hearing about it.

For use in a wide range of initiatives, a data fabric accesses, harmonizes, and transforms data from various sources as needed. So, while maximizing the return on their previous technology investments, organizations gain more precise, current, and comprehensive information.

Act now before it’s too late

As the statistics above highlighted, financial services organizations in APAC and around the world are currently facing data challenges that, if unaddressed, could significantly hinder their ability to fulfil business objectives and enhance issues like customer retention and overall experience.

The current silos in financial services environments must be broken down to ensure that data can be used consistently throughout the organization. By taking action and implementing modern data management technologies and approaches, businesses can guarantee they will have access to a real-time, consistent view of the data from various sources. This will give business leaders a more complete and comprehensive view of the organization, supported by more insightful analytics. In other words, it will provide businesses access to more varied and up-to-date data, resulting in better insights.

The post Organizations in the APAC financial services sector in a conundrum because of data challenges appeared first on Tech Wire Asia.