Cashless, cardless, cordless purchasing


Cashless, cardless, cordless purchasing


Wednesday, October 28, 2020

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TRANSFORMING to a more technology-centred organisation can be intimidating for some, however, the goals of the organisation should be the focus. Keep your sights set on what you want to achieve with any strategic change before contemplating the technology and processes to be utilised.

Forbes writes, “Why is digital transformation such a buzzword today? Because we are [seeing that] traditional businesses that are not adopting, evolving, and changing are disappearing. The new reality requires us to be faster, more accurate, more reliable, and more agile.”

The top business magazine points out that a “defined business strategy makes the process of digital transformation easier”.

When you know where you are headed, it will not be that hard for you to choose a set of tools that will get you there. While doing that, don't reinvent the wheel. Explore different strategies and good practices of companies which already went through the process of digital transformation. Such knowledge can help you avoid some common mistakes and speed things up in the future. Forbes also states, “Digital transformation's central role is to optimise existing processes and practices developed around your core business.”

To enable the transformation to take shape and become permanent, digital transformation must also consider organisational culture. writes, “The leaders of many traditional companies sometimes wish for the fast and innovative cultures of digital start-ups. They covet the cultures of large, digital-born companies like Amazon, Facebook, and Google, which have used their innovativeness and customer obsession to become three of the top four most valuable companies in the world.” continues, “How can leaders in large traditional companies build cultures that keep up with the digital leaders? Our research shows that these companies should strive not to be digital, but rather to be 'digital enough'. Rather than try to copy the practices of digital-born companies, leaders can take steps to build a digital-ready culture.” The article defines a digital-ready culture as a shared and mutually reinforcing set of values and practices that enable high performance in service innovation and execution in a digitally enabled business environment.

Within the context of Jamaica, the digital transformation of several organisations is apparent. Jamaica Public Service reports a significant increase in customers using their online platforms to pay bills. Further improvements are possible. For example, adding artificial intelligence software to respond to routine queries on their online platforms would shorten telephone wait times and allow experienced staff to attend to more complex questions.

NCB now offers a simple three-step process new account holders may use to open a savings account. The process is entirely online, prompting you to upload copies of the required documentation, create a profile, and finally record a video for verification. No office visit is required to complete this process. It's another example of using technology to meet the business objective of attracting more customers.

Amber Group, through its Amber Fuels subsidiary, rolled out a cashless, cordless and touchless payment system for fuel purchase.

Speaking at a recent Jamaica Observer Business Forum, Amber Group founder and CEO Dushyant Savadia said this revolutionary payment system was the result of their desire to provide a digitised and innovative solution to the fuel payment system.

Savadia explained how a subscriber's vehicle, fitted with a radio frequency identification (RFID) sticker on the screen and loaded with credit card information, allowed for the purchase of petrol — cashless, touchless and cordless.

As shown by these success stories, when you base the adoption of new technology on achievable business objectives, it could lead to greater acceptance by all critical stakeholders.

Gary Simms is a project director & technology consultant. He may be reached at, twitter@cadencejamaica and also on Instagram @cadencejamaica.

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