IDC Thailand announced today that KASIKORNBANK is the winner of Future Enterprise of the Year in the Future of Enterprise Awards (FEA) 2022 Thailand. PTT Global Chemical Public Company Limited was also named as Best in Future of Operations.
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“In spite of the past couple of years being extremely trying times for the ASEAN region, it is highly encouraging to see organizations moving ahead with their digital transformation (DX) initiatives. The digital economy is on the lips of every ASEAN government, and IDC is witnessing vindication for many organizations that embarked on DX initiatives early on and are now capitalizing on this shift. This is a catalyst for many other organizations to follow suit. Cloud, Artificial Intelligence (AI), cybersecurity and IoT solutions remain the top areas of investment interest for ASEAN enterprises as they embark on a new level of their digitalization journey,” says Sudev Bangah, IDC ASEAN Managing Director.
Now on its sixth year, the Future Enterprise Awards continues to celebrate the tech-enabled resilience of enterprises as they navigate through the challenges and disruptions in a fast-paced and increasingly digital world. Joining KASIKORNBANK and PTT Global Chemical Public Company Limited are UOB Thailand, AIA Thailand, bolttech, MONIX Co., Ltd., True Digital Group, Ngern Tid Lor Public Company Limited, The 1 Central Company Limited, and Advanced Info Service Public Company Limited (AIS).
These organizations asserted their leadership in a digital-first world, distinguishing themselves from 1,071 entries received from 707 unique end-user organizations across Asia/Pacific. They were chosen as a cut above the rest in Thailand after displaying exceptional planning and implementation of DX initiatives according to IDC’s Future Enterprise benchmark categories, as shown in the recap below:
E2E Innovation Platform & Virtual Branch by UOB Thailand | Best in Future of Connectedness:
With the E2E Innovation Platform & Virtual Branch hybrid solution, UOB Thailand seamlessly integrates multiple tools to provide customized services. It harnesses data, technology, and analytical models to transform branch operating model into four primary focuses: enriching branch staff with access to actionable insights; digitalizing manual processes and offline activities; seamlessly integrate data, systems, processes, and tools; and unify an omni-channel approach for customer’s convenience. It drives transformation through five innovative tools which work in tandem to harness the synergy of human-technology collaboration to deliver an omni-channel experience. This project helps UOB branches in maintaining excellent performance in terms of business generation (more than THB 0.67 million or 3.1% YoY Total Operating Income) and customer satisfaction.
ALive powered by AIA by AIA Thailand | Best in Future of Customer Experience
ALive, is a hyper-personalized lifestyle app that creates a vibrant community to engage and support users, and offers a variety of health & wellness journeys to help people lead healthier, longer, and better lives. They use a launch-test-learn-iterate-expand approach to keep things going and leverage customer insights and feedback to make improvements. ALive is the most downloaded medical app in Thailand, with 500k users since its launch in February 2021. The application has also generated THB 81 million ANP from new and inactive AIA Thailand customers and saw 500% growth in online-to-offline leads compared to 2021.
bolttech’s Insurance Exchange: An Ecosystem That Multiplies Opportunities for the Insurance Industry by bolttech | Best in Future of Industry Ecosystems
This technology-enabled insurance exchange offers instant access to insurance distribution and creates opportunities for providers, distributors, and customers. The all-access model multiplies the opportunities for all participants. First, insurance companies that integrate their products into bolttech’s exchange can achieve instant scale by accessing new distribution channels, markets, and reaching customer segments they previously could not have. Second, businesses wanting to distribute insurance can seamlessly “add insurance” for their customers. Finally, the ecosystem offers more choice, convenience, and access to insurance products for customers. bolttech complements this exchange with their own insurance and protection products, underwriting, brokerage, and reinsurance capabilities, along with their proprietary SaaS technology.
FINNIX – Digital Lending Application by MONIX Co., Ltd. | Best in Future of Intelligence
FINNIX is a 100% digital lending application that offers frictionless credit application and fair interest rates with fun gamification. With its artificial intelligence and machine learning capabilities in underwriting and collections, customers can get cash within 5 minutes anytime, anywhere on their smartphone without any paper documents, collaterals, or guarantors. Unlike traditional banks, there is “zero” human intervention in the process. For collections, there are predictive models that allow them to manage risks and help customers. As a digital platform, MONIX embraces the use of data in every decision at every level and every department. As a result, they have helped more than half a million underbanked people from approaching loan sharks through loan disbursements of more than THB 10 billion and created over 1,000 job opportunities for them while managing to maintain single digit non-performing loans.
Furnace Management Program (FMP) by PTT Global Chemical Public Company Limited | Best in Future of Operations
The GC Olefin plant implemented a Furnace Management Program (FMP), an advanced analytics solution and digital logging platform to balance increasing production and maintaining furnace life. The result is a real-time optimization based on current economic and process conditions which the operations team can use to predict furnace run length and coking rate for better management and predictions. Furthermore, the information and insights generated were integral to overcoming the challenges of switching between liquid and gas feed. Their advanced analytics model helped the team improve plant margins which was calculated at USD 3 million/year.
True VWORLD by True Digital Group | Best in Future of Work
True VWORLD provides a secure, business-oriented, and enterprise-wide tool for frontline workers and office staff while leveraging AI and chatbots for enhanced functionality. The platform offers a transformation opportunity for SMBs, enterprises, government organizations, and schools. At a time when most people are in isolation in 2020, True VWORLD launched True VROOM, a video conferencing tool, to help Thai businesses continue their operations. True VWORLD had designed a work system that enriches remote communication by religiously following the lean method, minimizing paperwork to adopt a virtual office tool. Now, True VROOM has become a trusted platform for Thai companies – with more than two million meeting rooms created, more than 10,000 workspaces/companies subscribed, and more than THB 1 million cost savings for SMEs.
Piyasak Ukritnukun by Ngern Tid Lor Public Company Limited| CEO of the Year
Piyasak Ukritnukun, Managing Director for TIDLOR, upholds the company’s mission to promote financial inclusion for the underbanked by providing credit and insurance solutions for Thailand’s low-income, self-employed earners who have difficulty obtaining loans. Under his leadership, he has helped promote the insurance industry, while growing TIDLOR to become a leading provider of fair and transparent microcredit.
He led TIDLOR in doubling its client base and in growing its loan portfolio fourfold, exceeding USD 1 billion over 5 years. The company has also won several international awards for its business model design and corporate culture. A few years ago, TIDLOR made the shift to become a values-based organization, focused on building the right company culture and working environment for long-term sustainability.
Attapol Sinchalong by True Digital Group | CIO of the Year
Attapol Sinchalong leads the True Virtual World (VWorld) Business as Managing Director of True Digital Group with tangible results that are fully aligned with its new business strategy to build a new S-Curve for True Corporation. True VWorld focuses on building virtual solutions where people can meet, work, and learn digitally. Platforms consist of: VROOM, the one-and-only video conferencing platform in Thailand; VWORK, a Collaboration & Organization Management platform; and VLEARN, an all-in-one e-learning platform.
Over a few months after being launched in 2021, True VWorld platforms have been widely used by local customers, helping SMEs, educational institutions, and governments. His efforts have led to a more than twofold increase in employee engagement.
Center of Life Platform by The 1 Central Company Limited | Special Award for Digital Resiliency
As Thailand faced the Covid-19 pandemic and closed the doors of Central Group’s retail stores, customers had to work remotely from home and shop online. Digital resiliency and agility of working were already in place at The 1 since they transformed from current shopping complexes to various lifestyles destinations by setting innovative strategies. Their success is evident in the rapid transition of their campaigns from brick-and-mortar retail to online channels and in the revenue they generated. Online sales grew 75% (2020 vs. 2019) and member spending per month increased 4.5% post application download compared to -11.8% by non-application members.
Aunjai Cyber by Advanced Info Service Public Company Limited (AIS) | Special Award for Sustainability
Cyber Wellness and Online Safety is a significant factor toward the sustainability of AIS. They are determined to protect the Thai people from cyber threats as well as to promote online safety of vulnerable youths. The three main strategies under the Aunjai CYBER program includes the promotion of digital literacy, cyber protection with digital tools, and promotion of awareness against the potential dangers and impacts of the internet and technology. AIS’s two long-term targets are to become Thailand’s number one telecommunications brand that is trusted for cyber wellness and online safety, and to promote cyber wellness and online safety at 1,500 schools and protect 290,000 Thai users from cyber threats. To date, there are more than 100,000 teachers, education personnel, and students who have taken the Aunjai CYBER course through Online Learning Platforms.
K-Strategy by KASIKORNBANK | Future Enterprise of the Year
K-Strategy is a bank-wide strategy with six growth strategies and eight key capabilities to empower every customer’s life and business. They have completed various initiatives in FY2021 that are aligned with K-Strategy & K-Culture. One such initiative was K Pay, with more than 150,700 K Pay Later Accounts. These initiatives illustrate that KASIKORNBANK is a digitally defined organization leading the digital economy in Thailand. KASIKORNBANK thrives on a customer-centric culture, technology and data analytics capabilities, and embracing innovation thinking process and mindset.
IDC’s Future Enterprise Awards follows a two-phased approach to determine country and regional winners. Each nomination is evaluated by IDC’s country and regional analysts against a standard assessment framework based on IDC’s Future Enterprise taxonomy. All country winners will qualify for the regional competition to be decided by a panel of judges comprised of IDC analysts, industry practitioners, thought leaders, and academia around the globe.
The 2022 Future Enterprise Awards Thailand winners will compete at the regional finals happening at the highly anticipated IDC Asia/Pacific DX Summit and Future Enterprise Awards 2022 on October 26, 2022. To join the annual regional DX Summit, please register HERE.