Technology

Innovation the key to billion dollar enterprises

Lalin Fernandopulle reporting from Mumbai, India

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Innovation is the key to transform ideas into billion dollar enterprises and manage the best-run businesses according to IT experts at the SAP Summit 2008, the biggest business and technology forum that concluded recently in Mumbai India.

Experts in the sector said that the lifeblood of every person, company and even the country’s success is innovation and creation of new opportunities.

The Summit provided a roadmap for the success of enterprises that commenced with an Initial Public Offering (IPO) to grow into billion dollar revenue businesses.

The author of Blue Print Into A Billion, David G. Thomson said Asia leads the list of the highest number of billion dollar companies in the world and the key to success is innovation and transformational leadership.

Asia accounts for 41 per cent of Blue Print companies which made their way into billion dollar ventures with exponential growth revenue. Big business is all about achieving growth in revenue rather than the market share.

Thomson in his book outlined seven essential components for a successful business enterprise and in the past couple of years the number of companies that reached billion dollar revenue has grown.

Creating and sustaining a break through value proposition, exploiting the high growth market segment, leveraging big brother alliance to break into new markets and a Board comprising essential experts have enabled companies to achieve exponential revenue growth and returns”, Thomson said.

Microsoft, Google, eBay, Staples, Genetech, Starbucks, Nike and Harley Davidson were cited as few US elite companies that turned ideas into billion dollar businesses.

The Indian economy is booming with an unprecedented growth in major sectors backed by innovative technology and best practices which experts believe that it will not take long for the country to be the economic giant in Asia.

COO, Asia Pacific and Japan ASP, Stephen Watts said what drives growth in businesses is innovation, speed, good governance and business processes.

Indian entrepreneurs are daring and are willing to take risks.

What is impeding growth in certain countries in the region is complacency and are slow at taking decisions. Sri Lanka has experts but growth is slow.

President CEO, SAP India Subcontinent, Ranjan Das said corporates choose SAP solutions to innovate and adopt an IT platform that offers greater business agility, efficiency and insight.

India, the fastest growing region in using SAP solutions achieved a 65 per cent licence revenue growth last year.

The company will continue the growth momentum and expand the customer base this year. “Our primary aim is to build the partner eco-system which will enable us to increase the customer base in the regions. Creating value for customers and their satisfaction is our concern”, Das said.

The six best run businesses of the Fortune 500 companies in the world are powered by SAP. The company will add another of the Fortune 500 companies to its list shortly.

SAP is the world’s leading provider of business software with over 47,000 customers in 120 countries.

The organisation has over 50,000 employees across 50 countries enabling companies of all sizes and industries to reduce cost, increase efficiency and adopt to the changing global needs.

Siksil rated best accredited study centre by SLIM

The Siksil Institute of Information Technology (Pvt) Ltd., a leading IT training institute in Sri Lanka was rated as the best accredited study centre on student performance in 2007 by the Sri Lanka Institute of Marketing (SLIM) at a ceremony at the BMICH recently.

Siksil tied up with SLIM in 2007 to continuously enhance the marketing and IT competence of the business professionals in Sri Lanka and offer marketing related IT qualifications to professionals to enhance their capabilities in facing the business challenges especially in the fields of marketing and information technology.

SLIM recognised the marketing module of the Diploma in Business IT (DBIT) course offered by Siksil as equivalent to the Preliminary Certificate of Marketing (PCM) course conducted by SLIM which enables Siksil students to obtain a recognised marketing qualification.

Similarly, a PCM student of SLIM will be exempted from the marketing module of the DBIT program. Siksil is also taking steps to introduce a Postgraduate Diploma Course of SLIM for their students.

In addition Siksil is planning to launch a Computer Applications in Marketing/CRM Program for SLIM students. The Siksil Institute of Information Technology (Pvt) Ltd., is a BOI approved IT training institute registered under the Tertiary and Vocational Education Commission of Sri Lanka (TVEC).

Malwatte Valley Plantations revolutionises industry

Malwatte Valley Plantations is in the process of introducing modern technology in its plantations, a media release said.

The release said it is doing away with traditional systems and in association with Avery Industrial Automation is gearing its plantations with high tech user-friendly devices comprising customised programs.

This will help the management access information directly from their plantations via web based graphic user interface (GUI).

The company could also now view live images of its factory process around the clock via Digital Video Recording (DVR) whilst at the same time being able to analyse its daily production data.

The chief electronics engineer of the project confirmed its success at a presentation at the “Awards Night” of the company at the Cinnamon Grand recently. Two workers of Aislaby Estate said that malpractices of the previous system had stopped with the introduction of new technology and they as workers stand to benefit from the system.

These revolutionary technologies are long overdue and Malwatte Valley is pleased to lead the way for others to emulate, the release said.

The company has increased its turnover in 2007 to Rs. 2.26 Billion which is 29% above the preceding year and the highest in its history.

The net profit of approximately Rs. 400 million published in its unaudited accounts for 2007 is also the highest on record.

The company has embarked on a Factory Modernisation Program this year and expects to complete eight of its factories by the end of the year at a cost of approximately Rs. 65 million.

Two completed factories have already obtained ISO 22000 certification.

We expect a further three factories to be certified within the next three months, the release added.

SLT empowers e-channelling with cutting edge ICT solutions

e-Channelling Ltd., Sri Lanka’s first listed e-commerce technology company has entered into an agreement with Sri Lanka Telecom (SLT) for a total data communication solution and for co-location services as their preferred telecommunication provider.

The solution comprises multiple products such as Internet Protocol (IP) based network services and broadband internet.

The IP/VPN solution, which connects E-Channelling branches, Main Hospitals, Banks, Pharmacies and Communication Centres to its Head Office carries voice and mission critical data securely and reliably.

It is one of the main services SLT provides on the IP/MPLS backbone, which is the islandwide broadband network for corporate customers.

The servers at E-channelling Ltd., will be co-located at SLT iDC, the first data centre in Sri Lanka conforming to BS 7799/ISO 27001 security certification.