LESS than 20% of innovation projects REALIZED, Oracle SAYS

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Clear link between growth and innovation, but over-commitment on projects, lack of leadership and absence of process leading to innovation gap; having an innovation agenda is critical.

Oracle OpenWorld Singapore, Singapore, March 26, 2019 — Fewer than 20 percent of innovation focused projects are coming to life, according to a new report from cloud company, Oracle, primarily caused by lack of focus and leadership, poor processes and an ongoing resistance to change. The survey of 1,850+ decision makers across the Asia Pacific region in the cloud solutions and software market also showed that despite a clear link between growth and innovation, most of the companies interviewed have little plan to be proactive in innovation over the next three years. 

“While Asia has taken a lead globally in innovation, the research confirms the growing feeling that there is an impending innovation winter coming,” said Andrew Sutherland, Senior Vice President, Technology and Systems, Oracle APAC and EMEA. “In today’s highly competitive global economy, companies cannot afford to sit back. Those who do risk being outpaced with little hope of catching up. Instead they need to look at the barriers and actively seek to address them. With an effective and supportive culture, clear vision from leaders, the prioritization and funding of chosen projects and new approaches like co-innovating, activities in this area are more likely to see success. Being innovative isn’t just about ideas, it’s about execution.” 

Key findings:

  • · Two thirds of those questioned say 80 percent of innovation projects never make it to market 
  • · Over one third of companies are overwhelmed by too many innovation projects 
  • · 28% cite ongoing inertia and resistance to change
  • · One quarter say lack of process is hampering their innovation efforts (26%), a lack of vision (27%) and a lack of commitment from business (23%) are major barriers to innovation.
  • · Key factors preventing new products, services, and customer experiences from reaching the market include not having the technology to enable execution/ delivery, having the innovation team too separated from core business and poor execution. 
  • · Yet, 86% of companies experiencing strong to significant growth are investing in innovation

Not enough focus and structure 

Over-commitment of resources is preventing companies from bringing their innovation initiatives to life, with one third admitting to being overwhelmed by too many projects. The issue was particularly evident in high-growth companies, with 41% reporting an excess of parallel initiatives. Having the innovation team too separated from core business was also identified as a key barrier.

Lack of leadership 

Insufficient commitment from the business in terms of leadership support, investment and vision, coupled with a lack of clear ownership, were shown to be key barriers to a company’s success in innovation. 

Customer engagement as an indicator of success

Organizations are moving away from traditional critical success factors measuring success of employee productivity (52%) and revenue (53%), and increasingly looking towards areas like customer experience (57%) and retention (52%) as the key measures for ROI. 

The report, “Having a successful innovation agenda” is based on a global survey of 5,000+ decision makers in cloud solutions and software. The respondents represented companies across 24 markets, comprising Australia, New Zealand, Singapore, Malaysia, Thailand, Korea, China, Japan and India within the Asia Pacific region, with revenues of up to £500 million and workforces of 100 to 50,000 employees.

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Asia’s Enterprises Realise The Power Of Oracle Autonomous Database

Top brands choose Oracle Autonomous Database to secure data and accelerate innovation

Oracle OpenWorld Singapore, Singapore, March 26, 2019 - An increasing number of businesses in Asia are turning to Oracle Autonomous Database - the industry’s first self-driving, self-securing, self-repairing database – to gain deeper and more meaningful data insight, faster than ever before. Eleven such organisations will showcase the value being gained during Oracle OpenWorld Singapore this week, including the likes of Bitmain and Kingold from China, Vodafone Fiji, Hong Kong Maxim’s Group, National Pharmacies and Applied Precision Medicine from Australia, Forth Smart and Rangsit University from Thailand and others. 

Oracle Autonomous Database uses ground-breaking machine learning and automation to deploy, optimize, patch and secure itself with no human intervention, bringing new levels of performance, security, and efficiency. As a result users have proven that they are able to significantly improve and fast-track business decisions, improve their customer experience, introduce new products/services to market quicker and create a smarter workforce.

Steve Daheb, Senior Vice President, Oracle Cloud, said: “Oracle Autonomous Database is one of the most successful new product introductions in Oracle’s 40-year history. Today we are seeing users across the globe realising the benefit of autonomous. Already, we have nearly 1,000 paying Autonomous Database customers and around 4,000 new Autonomous Database trials were added in the last quarter alone. This momentum confirms that the Autonomous Database has arrived at a perfect time for our customers, when data is growing at an almost immeasurable rate and we need a new way of managing, securing and getting value from data. There are some great examples of companies using it here in Asia to reduce costs and risk, automate core tasks so they can focus on innovation, and to empower all areas of the business from finance, to Marketing and HR to get maximum value and insight from their data.”

Sharing their stories at Oracle OpenWorld Singapore are: 

Pawarit Ruengsuksilp, Business Development Analyst, Forth Smart, said, “Using Oracle Autonomous Data Warehouse has been a complete game-changer for us. Operating over 120,000 vending machines nationwide to give our customers the ability to do things like top-up their mobile phones and e-wallets and transfer money to friends and family, our business generates a lot of transactional data - around 2 million transactions per day. Now, with Autonomous Database, we are able to generate real-time insight into our network of vending machines, whereas previously this would have taken us 2-3 days. This has had a significant impact across our financial reporting, ability to undertake complex segmentation and predictive analytics, allowing us to focus more of our efforts on innovation.”

Louis Mah, Director, Information Technology, Hong Kong Maxim’s Group, said: “Operating over 70 brands in Hong Kong and Macau regions, Mainland China and South East Asia across more than 1,300 outlets in an industry as fast-paced as the food industry, we need to stay on-top of our game. Data is key to helping us do this, but with more than 600,000 transactions records per day in Hong Kong alone it is hard for us. Using a mix of Autonomous Data Warehouse and Oracle Analytics Cloud, mixed with detail from our ERP systems, we can now get extremely timely and valuable information regarding consumer habits and behaviour, and rapidly adapt to changes in how our different restaurants are performing. This is essential, especially as we look to expand into Mainland China and further into South East Asia.”

Ryan Klose, Executive General Manager – Corporate, National Pharmacies, said, “Today delighting customers and delivering a personalised experience is everything. So we want the holy grail of getting data centralised around the patient. This will help ensure we have the right products on shelves and that when health practitioners talk to patients they have the latest and complete information, can join the dots and make informed decisions. But that’s hard. Traditionally, backend systems across the heathcare industry are legacy and have limited data sharing, often designed purely to transact the event at that time. Additionally, we are talking significant data volumes– we fulfill four million medical prescriptions alone each year, and that’s without other information regarding products, or even external factors such as weather. What having access to the power of autonomous database means is that we can give us real time insight, securely and at speed, and that’s transformative.” 

Steve Chang, CIO, Kingold, said, “Through the use of Autonomous Data Warehouse and Oracle Analytics Cloud we have been able to completely transform the way we operate. We have been able to completely streamline how we collect information. Previously for deep market insight we would have been heavily reliant on buying in expensive reports from third parties. Now, we are able to do most of the research and analysis ourselves. The output is also really helping our sales teams become data driven and identify which properties to target the right customers, rather than using their instinct to make decisions.”

Hwee-Xian Tan, Senior Analyst, SoHo and SME Research, “We continue to see Asia-Pacific enterprises opening up to and having a sharper appetite for database-as-a-service (DBaaS) propositions with AI and ML features being particularly strong drivers for enterprise migration to cloud-based database environments. This is due to the cost reductions they deliver, and their ability to derive new business insights at speed. This has the potential to shift the global cloud arms race amongst hyperscale cloud players towards those that have a strong play in controlling enterprise databases – most of which still reside in a legacy clientserver infrastructure.”

Learn more about Oracle Autonomous Database here.

Oracle Blockchain Platform now available as part of Everledger’s tracking solution

New capabilities deemed critical by Everledger for customers to get the most out of blockchain and their existing business and IT systems

Oracle OpenWorld Singapore, Singapore, March 26, 2019 - Oracle’s enterprise-grade blockchain platform is now available as part of Everledger’s blockchain-based solution following a rigorous development and scale evaluation process. As part of this, Everledger, a global emerging technology enterprise leading the way in real-world applications of blockchain, assessed Oracle’s blockchain offering for its ability to provide extended product capabilities to support enhanced customer solutions. 

In particular, the alignment will give Everledger users the ability to shadow blockchain transactions into a relational database, making it easier to run analytics on them. This will enable improved decision making, for example, being better able to determine how long it takes to transport gemstones from mine to the wholesaler and the retailer.

A pioneer in digital provenance tracking, Everledger’s blockchain-based platform is trusted by many industries including diamonds, coloured gemstones, fine wine and art. The ability to transparently track the provenance and lifetime journey of assets as they move across global supply chains, is especially critical for high value goods. These industries are susceptible to increased potential for theft, fraud and counterfeit – in the diamond industry alone, fraud events cost the insurance industry millions of dollars a year. 

Leanne Kemp, Founder & CEO Everledger says, “With an increasing consumer consciousness and a vocal demand for transparency, our work is focused on engaging entire business ecosystems to provide consumers the ability to make fully informed purchasing decisions. It is thus key for us to enable the ease of systems interaction and provide value add to our customers.

“The inclusion of Oracle Blockchain Platform in our offering enables us to deploy more innovative products and solutions for our customers globally, in particular with improved time to market for business intelligence reporting solutions. Oracle’s comprehensive enterprise-grade offering will open our customers to realising more from our blockchain-based platform and crystalise value from the data in their own systems.” 

Key elements

Some of the new capabilities of Oracle Blockchain Platform are deemed critical by Everledger in the integration of its blockchain-based platform with customers’ existing business and IT systems. As blockchain becomes an important data store in the enterprise, the Oracle Blockchain Platform enables users to capture blockchain transaction history and current state data for analytics as well as integrate it with other data sources. 

“Our longstanding goal has been to help customers to manage, protect, analyze and use the world’s data for the benefit of all. Being able to work with innovative companies like Everledger is an amazing opportunity. We look forward to helping both the company itself further its innovations in tracking and tracing the authenticity of some of the world’s most precious items, but also helping those in the ecosystem link key data sources for wider benefit,” said Frank Xiong, group vice president, Blockchain Product Development, Oracle.

The key elements of note include: 

  • Database access – Data is an integral part of blockchain. With much of the world’s data resident in Oracle systems, the use of Oracle Blockchain Platform to seamlessly link to those repositories will enable these same customers to leverage both their existing data stores and data on the Everledger blockchain.
  • Analytics – Oracle Blockchain Platform’s ability to connect to the rich histories stored in an organisation’s existing database means that Everledger can seamlessly enable analytics integration for highly visual interactive dashboards and reports.
  • Monitoring of network health, transaction rates, and other statistics, and other elements of blockchain administration/configuration, are made easier by enhanced REST APIs, which also simplify integration with existing enterprise IT tools.
  • Out of the box plug and play capabilities from the Oracle Blockchain Platform makes it not only easy for Everledger to get off the ground, but will also easier for deployment.
  • Developer tools - Additionally, the query tools for Oracle Blockchain Platform link into things like smart contract support standard SQL-based ledger queries, enabling organisations to leverage the skill sets their developers already have, thereby reducing the complexity of developing chaincode and boosting performance.

About Oracle Blockchain

Only Oracle provides a comprehensive blockchain offering, including business-ready Oracle Blockchain Applications Cloud and Oracle Blockchain Platform for developers who need to build or integrate their applications. Oracle’s blockchain applications are built with Oracle Blockchain Platform and seamlessly connect with Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Planning (ERP) Cloud and other Oracle Cloud Applications. Oracle Blockchain Platform is production ready with enterprise-grade capabilities, easy to adopt, and quick to develop upon, accelerating customer’s blockchain journeys and saving their costs.

AirAsia Takes Flight with Oracle to Transform Finance Operations

World’s leading low-cost airline selects Oracle ERP Cloud to improve business insights, reduce costs and enhance productivity.

Oracle OpenWorld Singapore, 27 March 2019 ­– AirAsia announced that it is working with Oracle to centralise and streamline its finance operations by leveraging the market-leading Oracle Enterprise Resource Planning (ERP) Cloud. The deployment supports AirAsia’s growth plans and its vision to be the leading travel technology company in Asia.

AirAsia Group CEO Tony Fernandes said, “AirAsia has championed Asean connectivity since its inception in 2001. Over the past 18 years, we’ve proudly grown our network and launched new routes across Asia Pacific as we delivered on our promise to our guests. We are now writing the next chapter of our story, riding on our momentum as a business and a brand to transform AirAsia into more than just an airline. We are going to be the travel technology company for the region, and as part of this journey, we’ve set our sights on becoming an intelligent, connected enterprise.”

“AirAsia is at the forefront of innovation. They are a leading example of how technology can optimize costs while enhancing the customer experience,” said Mark Hurd, Oracle CEO. “Oracle ERP Cloud provides a foundation for AirAsia’s continued growth and will help strengthen their leadership in the Asean travel industry.”

More than 6,000 customers across geography and industry have selected the market-leading Oracle ERP Cloud to provide a complete, innovative and secure financial platform for their organization. With Oracle ERP Cloud, organizations of all sizes can quickly and easily take advantage of the latest innovations in artificial intelligence, digital assistants, natural language processing, blockchain, and the Internet of Things to enable enhanced productivity, reduced costs and improved controls.

  • Industry Aligned Chart of Accounts and Enterprise Structure Modelling: Oracle ERP Cloud connects AirAsia’s distinct lines of business to enable smoother operations and improve decision making. The cloud solution delivers modern best practices, while the implementation partner TransSys helps standardize the business processes across finance and procurement functions.  

  • Revenue Accounting and Operational Systems Integration: Oracle ERP Cloud is integrated with AirAsia’s existing business systems and to help provide AirAsia with a single source of truth across financial and procurement functions.  

  • Direct Operating Cost Controls: Oracle Enterprise Performance Management (EPM) Cloud will help AirAsia  manage and improve global account reconciliation. With Oracle EPM Cloud, AirAsia will be able to define, author, review, and publish financial, management, and regulatory reports.

  • Robust Data Models to Compute and Analyze Route Contribution and Profitability: Oracle ERP Cloud and Oracle EPM Cloud will  facilitate core business analysis and reporting to help AirAsia improve decision making and drive growth.

AirAsia Group CFO Pattra Boosarawongse said, “An agile finance operation is the backbone of every successful business, where financial data is readily available in real time to support critical business decisions. 

As an airline that operates in 25 markets across Asia, Australia, the Middle East and the US, we have a complex operation. Our finance team needs to reconcile cross-currency data and transact with suppliers in different countries. Oracle ERP Cloud will help us simplify, standardize and automate our financial operations across the group, and free our finance teams from mundane operational tasks to focus on growing our business.”

About AirAsia

​AirAsia, the world’s leading low-cost carrier, services an extensive network of over 140 destinations across Asia Pacific. Since starting operations in 2001, AirAsia has carried more than 500 million guests and grown its fleet from just two aircraft to over 200. The airline is proud to be a truly Asean (Association of Southeast Asian Nations) airline with established operations based in Malaysia, Indonesia, Thailand and the Philippines as well as India and Japan, servicing a network stretching across Asia, Australia, the Middle East and the US. AirAsia has been named the World’s Best Low-Cost Airline at the annual Skytrax World Airline Awards 10 times in a row from 2009 to 2018. AirAsia was also awarded World's Leading Low-Cost Airline for the sixth consecutive year at the 2018 World Travel Awards, where it also won the World's Leading Low-Cost Airline Cabin Crew award for a second straight year. 

Follow AirAsia on Facebook (AirAsia), Twitter (@AirAsia), Instagram (@airasia), and YouTube (AirAsia).