The past year offered new challenges and opportunities to executives across all industries.

That had CIOs moving as fast as ever to keep up with market trends, changing economic forecasts, talent needs, and business requirements.

So as 2022 closes out, we asked IT leaders to share their thoughts about what the prior 12 months have taught them. Here’s what they say.

1. Digital transformation has hit a dizzying speed

The race is on to further digitalize operations and leverage technology for innovation and business transformation. That has been a trend for years, but CIOs have found that the pace at which they and their teams must deliver digital transformation has ramped up even more.

A recent Bain & Co. survey of 1,400 business leaders found that 85% say “disruption will remain at its blistering pace or even accelerate over the next  five years.”

If it wasn’t clear already, 2022 made it obvious that CIOs must move superfast.

“Once-in-a-century global pandemic or geopolitical situations or ever-evolving customer expectations require that companies — large and small — and entire industries rapidly evolve their business models and compel them to experiment on the go,” says Sanjay Macwan, CIO and CISO of Vonage. Consequently, “companies across all industries need a strategic approach to exploit the intersection of cloud computing, security and trust by design, and data to create exponential value while appropriately managing cybersecurity risks.”

2. And payback has to happen faster

CIOs must not only deliver transformative tech more quickly, they’ve gotten the message that their executive colleagues want to see returns even faster, too.

“ROI timeframes are getting very short indeed,” says Stuart Carlaw, chief research officer at ABI Research. “Previous attention was on 18-, 24-, and 36-month payback times, but now a lot of our contacts are reporting that six-month ROI timeframes are what is moving through. Importantly there is also a need to demonstrate the capability to hit these timeframes prior to project [approval].”

3. Flexibility in the IT stack is critical

After a decade-plus of building agility into tech teams by adopting agile and DevOps methodologies and prioritizing the ability to pivot, CIOs have been spending more time creating flexibility within their enterprise IT environment.

For Rosie Rivel, CIO of BigCommerce, that means more composable architecture.

“For technology that runs our business, non-differentiating tech has to come in as quickly as possible, so I’m looking to build in a composable way, with packaged solutions and embedded APIs that create the composability and flexibility that we need,” she says. “Business models evolve and we have to be flexible enough to evolve with them; composability allows for me to provide a tech stack that can support different business models.”

Analysts at research firm Gartner likewise saw the value of composability in 2022, saying that their research predicted that in 2022 executives at high-composability enterprises expected an average revenue growth of 7.7%, compared to just 3.4% for those at low-composability enterprises.

4. AI is mainstream

Artificial intelligence, like composability, moved into the mainstream and became a key differentiator for success in 2022. Figures from Deloitte’s October 2022 State of AI in the Enterprise report make the point, with 94% of business leaders surveyed saying AI is critical to success.

“Practical AI solutions are showing up in some of the most routine and frequently occurring enterprise workflows and enabling richer customer and employee experiences,” Macwan says, saying such use of AI “is becoming table stakes.”

He adds: “Just as we cannot imagine any company functioning without laptops and smart devices as table-stake tools for the employees, we are beginning to see AI solutions permeating in all manners of workflows across enterprises. For CIOs and all technology and business leaders, this so-called ‘routine-ness’ of AI should really be exciting, and they need to find more practical ways to leverage AI in the years ahead.”

5. CIOs need to be on top of security

Cybersecurity has always been an issue for CIOs, but it jumped to the top of many CIO priority lists in 2022. This year’s State of the CIO survey found that increasing cybersecurity protection was the No. 1 business initiative driving IT investments in 2022, ahead of strategic issues such as increasing operational efficiency (No. 2 on the investment list), and improving customer experience (in third place).

“The attack surface is more complex than ever before. As such, we need to ensure the office of the CIO is an enabler while continuing to invest in people, tools, and processes to mitigate these complexities,” says Carl Froggett, CIO of Deep Instinct. “Due to the velocity of change, responding to a situation is no longer good enough; you need to prevent it from happening in the first place rather than responding all the time.”

6. Technology must make up for staffing shortages

The past year has seen some low unemployment figures as well as high churn rates, and that has put pressure on CIOs to find more ways to use technology to ease the crunch, Carlaw says.

“Labor shortages are promoting technology adoption. Previously companies would be considering automated solutions if they could replace seven to 10 people. This year we have seen that reduced in size of almost one person,” he says, adding that the trend has significantly boosted the use of co-bots, automated vehicles, AI, and other productivity technologies that either augment the human workforce or replace it altogether.

7. Automation must bring benefits, too

As important as automation is for boosting productivity and cutting costs, CIOs also say they’re tasked with using automation initiatives to spur transformation of processes as well.

That lesson isn’t lost on Carrie Rasmussen, CIO of Ceridian. For her, automation initiatives must first ensure the processes themselves are efficient and effective before being automated. Then they must also deliver some “longer-term play to be better at what we do,” she says.

“There are right and wrong ways to automate,” Rasmussen says. “Too often automation is sold as something that will reduce costs. Instead, it should be viewed as something that drives value.”

8. UX is a differentiator

The past year has also seen customer experience and employee experience — already top issues — grow in importance as competition in a softening economy heats up, competition for talent remains high, and frustration mounts over the glitchy, impersonal digital connections tolerated during the height of the pandemic.

Indeed, BigCommerce’s Rivel cites the increased focus on experience as one of her top takeaways from 2022, noting that “experience is really what’s going to differentiate us.”

Rivel says IT must create and support workplace experiences that cater to employees (themselves included) wherever they might be. Her team has done that in part by implementing walkup kiosks and other self-service options, as well as by implementing platforms that support virtual employee interactions and collaboration. They’re also focusing on user journeys and personalizing touchpoints for workers and customers alike.

9. It’s OK — even good — that the personal and professional now overlap

Workers at all levels at many if not most organizations have had to blend their personal and professional lives over the past few years as they navigated lockdowns and other pandemic-era policies. Amy Evins, executive vice president and CIO of LPL Financial, has some new perspectives as a result.

“I grew up in a heavy corporate culture: You didn’t bring your family situations to work,” Evins says. If she had to tend to personal or family needs, she’d quietly handle them. “But now there’s an awareness of each other. You know people’s families because they were working at home. You know now if people have a cat. There’s a new level of personal connection. It builds a different layer of respect and trust. It builds tighter relationships.”

10. Think people, not location

Monique Dumais-Chrisope, senior vice president and CIO of Encore Capital Group, says she, too, took away some new perspectives on leadership that puts a bigger emphasis on people.

“I had to educate myself a lot on human-centric org design,” she explains. “With the return to office, hybrid trends, and employee demands for more flexibility, it was quite the challenge to figure out, for IT specifically, what the right model was. I watched large tech companies offer 100% remote, then retract that and the employee experience was terrible.”

Like many other execs, Dumais-Chrisope has heard from both those employees who favor remote work and those employees who enjoy in-person interactions with team members back in the office. She says those divergent points create “quite the conundrum for most of us to figure out the right balance.”

That in turn brought her to human-centric organization design, as opposed to the traditional location-centric school of thought. “I was able to leverage this and apply it to a more flexible hybrid approach for my technology team and I feel they are enjoying the balance.”

11. Hybrid office collaboration remains a work in progress

Three years in, Evins says she realizes that everyone is still trying to figure out how best to communicate and collaborate in this hybrid world. Yes, there is a host of technologies to help bridge any time and space between colleagues, but they don’t really replicate the proverbial watercooler talk.

“I don’t think we’ve solved for that yet. We have text and IM but it’s not the same as asking [in person], ‘Do you have a minute to talk?’” she says. “That kind of communication has been lost in this hybrid world and we haven’t solved for it yet.”

12. Culture is key for recruiting, retaining tech talent

On a similar note, 2022 has reinforced for many CIOs that they have to offer tech talent a reason beyond compensation on why to join or stay with them.

“Hiring and retaining top talent is always on a CIO’s mind, but this year it proved to be especially challenging because of the ongoing IT skills shortage,” says Ron Guerrier, CIO for HP. “Workplace culture, more than ever, drives your ability to recruit and retain skilled IT talent. The long-term shift to hybrid work has put a spotlight on team culture, which brings opportunities for both workers and employers. Skilled workers now have access to an expanded job pool, which lets them prioritize the type of environment where they can do their best work.”

As a result, Guerrier says he and other CIOs “have to go beyond just competing on salaries and titles, and really make a concentrated effort to build a culture of inclusivity and work-life integration within our IT teams.”

Artificial Intelligence, Collaboration Software, Data and Information Security, Digital Transformation, Hiring, IT Leadership, IT Strategy, Staff Management

Canada’s success on the global stage depends on the accelerated adoption oftechnology across all sectors. As a nation, Canada has a history of award-winning thought leaders, innovators and founders of some of the most globally disruptive technologies. TECHNATION’s Ingenious Awards program sets out to find both public and private organizations that have delivered real impact.

The 2022 winners ranged from delivering fast and effective point of care and digital diagnosis, to bringing next-level 3D ART and tech to the metaverse and on chain experiences leveraging WEB3 technology. Another winner moved an extensive multi-tiered IT environment from on-premises to the cloud while another winner leveraged smart home devices to enhance access to regional government amenities and better delivered programs and services to customers. The final winner utilized advanced data analytics, machine learning and text mining techniques to “mine” the past.

TECHNATION celebrated six private and public sector leaders in Blockchain technology, AI, Cloud, and IoT along with honouring Canada’s Public Sector Disruptor of the Year and the first Canadian Tech Hall of Fame Award winner.

The AI award recognized Alethea Medical  for their eConsult and AI diagnostic platform helping family physicians better diagnose and treat patient conditions. The proprietary AI software makes otherwise complicated diagnosis simple by cutting out the need to see a specialist for a diagnosis. By adding eConsult to the platform, family physicians can more effectively collaborate with specialists. This is even more important in rural and remote communities where specialist care is non-existent and travel for this type of care can be expensive and burdensome. The Alethea Medical platform could be utilized in developing nations, war zones, prisons, and other niche areas in the future.

Tafi took home the Blockchain award for overcoming the challenge of creating and executing a blockchain project that would work properly, get attention and set the track for success with innovation in Web3 projects. The challenge of getting Tafi’s first NFT on the blockchain and leading a cryptocurrency auction for charity, was an opportunity to use their 3D knowledge to enter the quickly growing NFT market.

The Ontario Ministry of Transportation  transitioned from a mid-tier server environment, encompassing over 180 servers, 65 databases and 32 business software applications successfully to the cloud to win the Ingenious Award for Cloud this year. The mid-tier environment provided online services and hosting for both internal and public facing solutions that supports approximately $1.98 billion CAD in government revenue annually. It provided the main data exchange interfaces between Ontario Ministry of Transportation and other provincial ministries, as well as 100 external organizations like police services, the Insurance Bureau of Canada (IBC), the Canadian Border Security Agency and the government’s front-line service delivery organization, Service Ontario.

The Regional Municipality of Durham located in the province of Ontario was the winner of the IoT technology category for their myDurham 311 Smart Home Device Voice Service. One of myDurham 311’s goals was to ensure residents had many ways of interacting with regional services by using an omnichannel approach – a coordinated system that ensures regional services are accessible through a variety of channels. Durham Region successfully leveraged Smart Home devices like Google or Alexa to enable customers to access regional services like when the next garbage pickup date is or how to reach their local government representative while having a conversational experience. This tool helps customers easily access information and frequently asked questions, through their smart home devices.

The Ingenious Award winner for the 2022 Public Sector Disruptor of the Year was Ryan Hum, Vice President, Chief Data & Information Officer, Canada Energy Regulator. Over the last two years, the Canada Energy Regulator (CER) embarked on a strategic priority to drive data and digital innovation in the organization using advanced data analytics, machine learning, and text mining techniques to “mine” the past. The CER has been in existence for over 60 years, and has become an important historical repository of environmental, social, and Indigenous knowledge and data for Canada. Liberating this knowledge will help scientists understand changes in the Canadian environment, reduce the burden on industry to duplicate costly scientific studies, and enrich Indigenous communities who may be losing their cultural history and language.

The newly launched Canadian Tech Hall of Award for 2022 went to Tobias Lütke, Co-Founder and CEO of Shopify who was selected by the Ingenious Awards voting committee. This new annual award recognizes and celebrates the accomplishments of Canada’s most distinguished technology leaders who represent founders of truly disruptive technology, who have elevated Canada’s reputation as a technology leader on the global stage. For the Canadian tech industry, this award honoured the remarkable achievements throughout Mr Lütke’s career that have contributed to Canada’s economic development and legacy, as well as providing inspiration for future technology founders.

To learn more about the TECHNATION Ingenious Awards, visit us here.

Digital Leader Award

CIO is proud to unveil the expanded CIO100 awards in 2022, recognising the top 100 senior technology executives and teams driving innovation, strengthening resiliency, and influencing rapid change.

Winners were unveiled during an in-person awards ceremony at Marina Bay Sands in Singapore, housing more than 200 executives from all key markets across ASEAN, Hong Kong and the wider region.

Aligned to Foundry’s global awards program, CIO100 is viewed as a mark of excellence within the enterprise.

First launched as the CIO50 in ASEAN during 2019, the decision to expand the initiative to CIO75 and now CIO100 is in recognition of a wealth of standout submissions, increased interest levels, and a desire to showcase examples of transformation best practice across all markets and sectors.

In addition to individual recognition, new Team of the Year awards were launched spanning the key categories of Innovation, Customer Value, Strategy, Talent, Resiliency, and Culture.

Collectively, CIO100 registered a record year in 2022 with more than 280 nominations submitted, over 20 industry sectors on show and more than eight markets represented — including Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Hong Kong and Myanmar among others.

CIO100 is not only a true representation of the regional market but a true illustration of the outstanding achievements delivered by individuals, wider teams and entire organisations.

“This is a stunning statement from the market,” said James Henderson, Editorial Director of CIO. “Irrespective of ongoing societal challenges and worsening economic conditions, this region continues to power forward unperturbed – the market has once again raised the bar to set new levels of innovation.

“To house another record-breaking year of CIO100 is testament to the transformative nature of CIOs and their respective teams – all are playing a crucial role in delivering on the promise of technology to customers across the region. Congratulations to our standout winners.”

In 2022, CIO100 was judged on the core pillars of Innovation and Leadership, honouring transformational, inspiring, and enduring CIOs at both in-country and regional levels.

Under the Innovation pillar, the nomination described the technology innovations introduced over the past 18-24 months that changed the way the business operates. Under the Leadership pillar, the nomination outlined the ways in which the technology leaders collaborated and influenced the wider organisation and its leadership team.

All entries were reviewed by a select and independent CIO100 judging panel, who rated each section of the questionnaire to determine the final list. The most powerful nominations provided real-world examples of where technology and digital chiefs are successfully providing value to organisations, driving innovation and leading teams.

As evidenced in 2022, this is a market which continually raises the bar for industry excellence through the deployment of bleeding-edge technologies and enhanced business models.

Such work also cements CIO100 – held in association with Slack, Workday, Korn Ferry and SoftServe – as the leading awards program for technology leaders in the region, forming part of a broader Asia Pacific initiative alongside the CIO50 Australia, CIO50 New Zealand, and CIO100 India awards. These are in addition to CIO100 awards in the US and UK, plus CIO50 Middle East awards.

CIO100 Awards – Sponsors 2022

Honouring the top tech leaders and teams in 2022

Top ranked CIO is Charassri Phaholyotin – Chief Information Operations Officer (CIOO), Kasikorn Business Technology Group (KBTG) – of Thailand. This was followed by Suhail Suresh (Group CTO, Maybank – Malaysia); Rowena Yeo (CTO, Johnson & Johnson –Singapore); Jimmy Ng (Group CIO, DBS Bank – Singapore) and Bryan Leo Asis (CIO, Alaska Milk [FrieslandCampina] – Philippines).

The remaining top 10 included Yan Mung Hou (Head of Group Technology, CapitaLand –Singapore); Aaron Lee (CIO, Blue Insurance – Hong Kong); Stuart Gurr (Group CIO / CTO, Deutsche Bank – Singapore); Rama Sridhar (EVP of Strategic Customer Solutions, Mastercard – Singapore) and Alvin Ong (CIO, Nanyang Technological University (NTU) – Singapore).

Team of the Year honours spanned Singapore Airlines (Resiliency); NTU (Strategy) and DBS Bank (Talent) alongside joint winners J.P. Morgan and Ministry of Social & Family Development (Customer Value); DHL and Standard Chartered (Innovation) and Maybank and Tokopedia (Culture).

CIO congratulates all honourees in 2022. The top 10 CIOs are ranked – the remaining 90 honourees recognised are listed alphabetically by name.

CIO100 ASEAN 2022:

Charassri Phaholyotin – CIOO, KBTGSuhail Suresh – Group CTO, MaybankRowena Yeo – CTO, Johnson & JohnsonJimmy Ng – Group CIO, DBS BankBryan Leo Asis – CIO, Alaska Milk (FrieslandCampina)Yan Mung Hou – Head of Group Technology, CapitaLandAaron Lee – CIO, Blue InsuranceStuart Gurr – Group CIO / CTO, Deutsche BankRama Sridhar – EVP of Strategic Customer Solutions, MastercardAlvin Ong – CIO, NTUAlan Chiu – CTO, MoneyOwlAllan Wong – Director of IT, Hong Kong Baptist University (HKBU)Andri Hidayat – IT Director, Prodia WidyahusadaAnthony Buchanan – CIO, ManulifeAries Suswendi – SVP of Digital Services, TripatraArmik Ayoubdel – CIO (Asia Pacific), BGC PartnersAswin Utomo – CIO, TokopediaAthikom Kanchanavibhu – EVP of Digital & Technology Transformation, Mitr Phol GroupAugustine Wong – CIO, Vietnam Prosperity BankAxel Winter – Chief Digital Officer, Siam PiwatBhuvanesh Shukla – CTO, AGD BankBiren Kundalia Regional – CIO, Tokio Marine AsiaBrian Chan – IT Director, Jebsen GroupBudi Tedjaprawira – Head of IT, Starbucks IndonesiaCarlos Santos – Chief Technology and Transformation Officer, AXA PhilippinesChee Yuen Yap – Group CIO, Surbana JurongChew Han Wei – IT Director, Ritz-CarltonChi Chong Lim – Director of Group ICT, S.P. SetiaChoo Hoo Neoh – Head of IT, Singapore Aerospace Manufacturing (SAM)Dickie Widjaja – CIO, InvestreeDodi Soewandi – CIO, Adira FinanceDonseok Ahn – Global IT Director, ReckittDr. Andy Luk – Head of Digital Transformation & Insights, HK Express AirwaysEd Bizaoui – CIO (Asia Pacific), J.P. MorganEdmund Situmorang – Group CTO, Asian Bulk LogisticsEe Kiam Keong – CIO, Gambling Regulatory Authority of SingaporeFilipus Suwarno – Head of Technology Group, OCBCFrankie Shuai – Director of Cyber & Technology Risk, UBSGeorge Wang – SVP of IT, Singapore AirlinesHamid bin Hussain – President, Sepang Municipal CouncilHandi Tjandra – Head of DevSecOps, UOBHenk Van Rossum – Director of Group Cloud International, SOSHerman Widjaja – CTO, TokopediaIchwan Peryana – CTO, Finansial Integrasi TeknologiIshan Agrawal – Group CTO, Funding Societies | ModalkuIvan Ng – Group CTO, City Developments LimitedJeffrey Sheng – Head of IT (Asia Pacific), Sompo HoldingsJim Man – CIO, United Asia FinanceJim Sarka – Regional CIO, Johnson & JohnsonJocelyn Austria – Group COO, One MountJohn Ang – CTO, EtonHouseJohn Hsu – CIO (Asia Pacific), HSBCJulian Brinckmann – CIO (Asia Pacific), OlympusJuliana Chua – Senior Director of Global Digital Acceleration, EssilorLuxotticaKeith Chan – VP of IT, Wilcon Depot

CIO100 Awards – Sponsors 2022

Ken Soh – Group CIO, BH GlobalKevin Li – VP & CIO, GSKLeonard Ong – Regional CISO, GE HealthcareLeslie Yee – IT Director, Pacific International LinesMark Frogoso – CISO, MyntMel Migrino – CISO, Meralco and Women in Security Alliance PhilippinesMiao Song – Global CIO, GLPMohamed Hardi – CIO, National Heritage BoardNilo Zantua – SVP and CTO, RCBCNirupam Das – SVP of Global Digital Transformation, Liberty MutualNorman Sasono – CTO, DANA IndonesiaParminder Singh – Chief Digital Officer, MediacorpPeter Tay – Chief Digital Officer, IncomePoh Cheng Pang – CIO, SkillsFuture SingaporeRahul Shinde – CIO, Coca Cola (Vietnam)Rajiv Kakar – Group CIO, Thai Union GroupRajiv Renganathan – IT Director of Supply Chain Digital, Schneider ElectricRalph Ostertag – Director Digital & Technology (Asia Pacific), HeinekenRichard Lord – CIO (Asia Pacific), HSBC (Wholesale)Richard Parcia – Group CIO, Citadel PacificSachin Nair – CIO, Khan BankSanjay Thomas – CIOSetiaji Setiaji – Chief of Digital Transformation Office, Ministry of Health IndonesiaSetsiri Settaphakorm – SVP of Open Banking, KrungsriShariq Khan – VP of IT, Ergo InsuranceSharon Ng – CIO & Cluster Director, GovTech SingaporeShashank Singh – Group Chief Transformation Officer, Validus CapitalShekher Kumar Agrawal – President of Digital Transformation, Indorama VenturesSiti Rohana Mohamed Amin – Director of Technology, Malaysian Institute of AccountantsSudhanshu Duggal – Regional CIO, P&GSujit Panda – CTIO, BDxSupriya Rao Patwardhan – EVP / Global Head of IT Services, DHL GroupSutheshnathan A/L Sunmuganathan – CIO of International, MaybankTeck Guan Yeo – Chief Business Technology Officer, Singapore PoolsTerence Yeung – Executive VP / Group CIO, China Development FinancialTim Delahunty – Director of Technology, Commonwealth Bank IndonesiaTuan Anh Pham – CIO, Becamex VietnamWanthana Chotchaisathit – EVP of IT, TISCOWart Teao Phoon – Global IT Director, APL LogisticsWay En Yong – SVP of IT, Genting MalaysiaWinnie Rebancos – CIO, Coca-Cola (Philippines)Yee Pern Ng – CTO, Far East OrganizationYee Yu – CIO, Hung Hing Printing GroupYessie Yosetya – Chief Strategic Transformation & IT Officer, XL AxiataYew Jin Kang – CTO, PLUS Malaysia

Team of the Year – Customer Value

J.P. Morgan

As financial institutions embrace digital only solutions, J.P. Morgan is providing a digitally enabled experience for clients – offering a truly personalised engagement and journey empowered by seamless integrations with advisory tools and omni-channel functionalities. Such an approach ensures customers stay up-to-date, enhance communications and execute trades with real-time authority and insights.

Ministry of Social & Family Development (GovTech Singapore)

Government Technology Agency (GovTech) collaborated with Ministry of Social and Family Development (MSF) and National Council of Social Service (NCSS) to deploy transformative initiatives that deliver customer value and support social mobility. Significant investments have been made to develop people, processes and systems – including Social Service Net (SSNet), a case management system enabling the efficient administration of services and programs, such as COVID-19 schemes, all implemented within the space of 3-4 weeks during the height of the pandemic.

Team of the Year – Strategy

Nanyang Technological University (NTU)

NTU wins this award in recognition of kick-starting a new phase of technology-enabled transformation to support the University’s five-year strategic plan – NTU 2025. The team designed an IT strategic planning process anchored on four key pillars (LEAP) – (1) Look Beyond Ourselves; (2) Engage Business Direction; (3) Architect IT Portfolio and (4) Prioritise the Way Forward… enhancing the experience of 33,000 students and 7,600 employees in the process.

Team of the Year – Innovation

DHL

DHL wins this award for leveraging the power of cloud-based APIs to capitalise on accelerating market trends in logistics, using new solutions to address globalisation, digitalisation, e-commerce and sustainability priorities. The team developed a Group API Platform aligned to the mission of “delivering best-in-class logistics APIs for everyone” – now allowing the business to process more than two billion requests per month, forming a key cornerstone of the organisation’s innovation agenda.

Standard Chartered

Standard Chartered wins this award in recognition of elevating the client banking experience to meet corporate transformation goals – housing a laser sharp focus on impactful innovations to drive commerce and prosperity. The team created observability platform Skynet to resolve the complexities of the end-to-end customer journey, leveraging the power of AI, ML, big data and advanced analytics to ingest 2.1 billion data markers in one day across four markets, six business services and 15 customer journeys – spurring significant revenue growth in the process.

Team of the Year – Culture

Maybank

Maybank wins this award for building a healthy internal culture that strives for excellence, underpinned by the three core principles of Recognise, Energise and Actualise. Recognise in the form of employee awards recognising exemplary leadership, teamwork and innovation; Energise to help staff surpass personal and group goals and Actualise aligned to Maslow’s Hierarchy of Needs.

Tokopedia

Tokopedia wins this award for creating a culture of collaboration, togetherness and trust, evident by three core company initiatives designed to nurture the next generation of leaders. Tech Bench allows the top 1% of talents to be involved in a structured mentorship program; Challenge Period helps staff work on leadership skills and MyCoach focuses on training and certifications for those with a passion for coaching.

Team of the Year – Talent

DBS Bank

Central to the success of DBS as an example of digital transformation best practice is an expanding team housing industry-leading talent and capabilities – accelerated by coaching and mentoring programs, plus employee awards and technology academies. One such example is RISE (Reskill and upskill; Inspire; Share and Engage), viewed as the foundation recognising, showcasing, and nurturing talent through personalised programs, tools and resources – achieving 92% approval rate from employees across the company.

Team of the Year – Resiliency

Singapore Airlines

Singapore Airlines wins this award in recognition of overcoming the challenges of COVID-19 and a drastic reduction in flight capacity to scale up operations with limited lead-time and changing government regulations. Within the space of three months, the Healthcert Service Layer (HSL) was developed and launched on flights from Singapore to Frankfurt and Munich in mid-July 2021 – offering a digital solution to verify health certificates alongside rolling out a Crew Journey application to optimise operations and enhance staff productivity… a relentless undertaking amid unprecedented difficulties.

CIO 100, IDG Events, Innovation, IT Leadership

Speaking at the CIO UK 100 ceremony in London, The Hut Group’s Joanna Drake reveals what it means to be ranked the top CIO in the UK, how automation is helping her IT team become ‘consultants’, and why her sports background made her a better leader.

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CIO, CIO Leadership Live

It wouldn’t be far-fetched to call ERP (enterprise resource planning) the brain of an organization’s IT infrastructure. After all, an ERP system streamlines, standardizes, and integrates a wide range of vital business processes across diverse business functions.

Implementing an ERP solution ranks among the most capex-intensive projects any IT leader will undertake. In addition to substantial investments, the solution has the potential to impact all strategic business units of a company. It is, therefore, imperative for a CIO to follow best practices for deploying an ERP solution and then keep a close watch on the trends shaping it going forward.

Here’s a look at how the ERP category is evolving as an enterprise-wide solution and how these trends will impact IT leaders.

Customization gives way to standardization

The traditional practice of enterprise technology leaders customizing an ERP solution to meet their specific enterprise or business needs is giving way to implementing an off-the-shelf solution. A key driver for this is the steep resource cost in keeping customized implementations apace with the latest features — a cost many CIOs forgo in favor of stagnancy, at the risk of falling behind.

“There are regular updates to the ERP, which could be in the form of features and functionalities that are pushed into the live environment. If there is a high level of customization, a CIO will have to tweak the update in context of the customization. This is cumbersome and leads to additional cost. By going in for a standardized ERP solution, IT leaders can avoid these issues, and most are following suit,” says Abhishek Mundra, practice director for enterprise platform services at research firm Everest Group.

Implications for CIOs: Besides avoiding cost and complexity, deploying an off-the-shelf ERP solution also helps in accelerating time to market and making the business agile. “Earlier, because of the customization, the implementation lifecycle used to take anywhere between four to five years. With an out-of-the-box solution, implementation now takes just six months to one year,” Mudra says, adding that IT leaders using off-the-shelf solutions can better spend their time modernizing processes instead.

 

Best-of-breed solutions overtake the enterprise-wide approach

Earlier CIOs used to deploy an ERP solution and gradually extend it to the various strategic business units across the enterprise. However, rapid digitization and the SaaS revolution are pushing IT decision-makers to adopt a different approach.

“Enterprise technology leaders are aggressively undertaking digital initiatives such as marketing automation, customer experience, social media marketing, and HR transformation,” Mundra says. “However, in these areas, cloud ERP solutions are still behind in terms of functionalities compared to their on-premises versions. So, for a core function such as finance, CIOs go for a cloud ERP solution from a top vendor, which meets their requirements but for other areas, they adopt best-of-breed point solutions.”

Implications for CIOs: In making the most of best-of-breed SaaS solutions, IT leaders must shift their emphasis from implementation to integration. To get the best of both worlds —an ERP for their core functions and myriad targeted solutions for vital line-of-business needs, such as Workday for HR or a Salesforce for CRM — CIOs must undertake process modernization and take on more of an orchestrator role.

 

Integration takes center stage

With the emergence of next-generation technologies such as IoT, analytics, and AI, enterprises are looking to gain business advantages from them. Taking a cue, leading ERP vendors are aligning with this trend by integrating their solutions with such emerging technologies, and IT leaders are following suit.

“With the availability of web services and JSON, it has become easy to integrate an ERP solution with other satellite applications,” says Achin Sharma, vice president of IT at logistics company Movin India.

Abhay Bapna, CIO at fast-moving consumer goods company Adani Wilmar, agrees: “We have thousands of sensors in our plants and each sensor sends out data every 15 seconds. With ERP moving to the cloud and integrating with technologies such as real-time analytics, huge volumes of data can now be processes on the fly.”

Implications for CIOs: Integration of ERP with other technologies has eased the pains of CIOs to a large extent. For instance, the finance module is a key component of an ERP solution. In the absence of real-time data, at the end of each month, it took a few days to run the numbers and ultimately carry out management reporting. Now with near real-time replication, CIOs can close this month-end activity the very next day, making the entire process seamless and time effective. Similarly, in healthcare, electronic medical records are getting integrated with the ERP solution, providing better insights to healthcare practitioners.

 

The rise of industry-specific solutions

Given the diverse needs of each vertical, a one-size-fits-all approach is failing to meet the expectations of business and technology leaders. This is giving rise to ERP platforms that offer functionalities catering to specific business verticals.

“Industry ERP solutions are increasingly finding favor among CIOs. There are emerging vendors who have found their niche verticals. For instance, Infor has an ERP solution for the manufacturing vertical; Salesforce offers its ERP for healthcare, banking, and financial services verticals; and ServiceNow is strong in the telecom and public sector space,” says Everest Group’s Mundra.

Implications for CIOs: Industry cloud ERP solutions enable CIOs to get insights into the best practices being followed by their peers. Also, having a broad base of customers offers a better probability of the solution provider investing in product development and innovation.

 

The move to cloud

Enterprise technology leaders are replacing their legacy, on-premises ERP solutions by switching to the cloud. While the advantages of leveraging cloud were already acknowledged, the pandemic further highlighted its value as it enabled employees to work from anywhere.

“Currently about 60% to 65% of the ERP market in India is still on-premise. This will change over the next three to four years when cloud will surpass on-premise with about 55% to 50% deployments on it. This trend is fast catching up,” says Sheetanshu Upadhyay, research head at global market research firm Strategic Market Research.

Gartner defines the market for cloud ERP as a market for application technology. According to the technological research and consulting firm, within addressable market segments, enterprise IT spending on public cloud will overtake spending on traditional IT in 2025. It predicts that almost two-thirds (65.9%) of spending on application software will be directed toward cloud technologies in 2025, up from 57.7% in 2022.

Implications for CIOs: By taking their ERP solutions to the cloud, CIOs can benefit from lower costs, new functionality, mobility, simpler deployment, elasticity, less need for internal IT resources, and the ability to easily add users and functions to accommodate business growth.

ERP Systems

CIO Middle East is proud to unveil the expanded CIO50 Middle East Awards in 2022, recognizing the top 50 senior technology executives driving innovation, strengthening resiliency, and influencing rapid change across the Middle East.

The CIO50 Middle East Awards are aligned to Foundry’s global awards program and viewed as a mark of excellence within the enterprise. Last year, CIO Middle East launched the first edition of the CIO50 Awards in the region, judging four core pillars of Innovation, Diversity & Culture, Workplace, and Data Intelligence, honoring transformational, inspirational, and enduring CIOs at both in-country and regional levels across the Middle East.

Technology leadership in numbers and words

Leaders of the CIO50 Middle East award winners collectively hold responsibility for more than 40,000 IT employees across the Middle East, averaging more than 500 staff members per organization. The list covers a range of technology positions, spanning CIO, CISO, CTO, and CDO, in addition to transformation, business, and executive roles across five countries: UAE, Saudi Arabia, Qatar, Oman, and Bahrain

More than 15 industry sectors were represented as well, including financial services, healthcare, insurance, banking, real estate, telecommunications, aviation, government, transport, utilities, and trade unions.

Despite the challenges of COVID-19, technology leaders remained resilient and pressed ahead with change-agent activities, evident through a transition away from being merely custodians of the IT department to entrepreneurs driving new ideas and strategies.

The CIO50 Middle East awardee list highlights technology executives focused on creation and development, building first-to-market projects capable of overcoming the pandemic and setting the business up for future growth.

Such work also cements CIO50 Middle East as the leading awards program for technology leaders in the region, forming part of a broader worldwide initiative alongside the CIO50 Australia, CIO50 New Zealand, CIO75 ASEAN and CIO100 India Awards. These are in addition to CIO100 Awards in the US and UK.

Ali & Sons’s Shumon Zaman takes top honors

The top-ranked technology leader in 2022 is Shumon Zaman, CIO and CDO at Ali & Sons. Saman and his team are leading a digital-first agenda, enabling Ali&Sons’ digital transformation journey while supporting the efficient and profitable operation of the company

Over the last year, Ali & Sons has started its digital transformation journey called Quantum, which is revolutionizing how the group operates and is a key enabler of its long-term double-digit growth. Quantum is set to help the company innovate, transform, and lead the industry with its multiple phases. In the initial phase, for instance, they’ve developed several different data harvesting platforms (collecting structured and unstructured data) that have already unlocked operational efficiencies to exceed over AED 14 million this year and is now providing new insights to help predict the future for our employees using embedded AI and ML tools.

The top 10 CIO50 Middle East awardees:

1. Shumon A. Zaman, Chief Information and Chief Digital Officer at Ali & Sons (UAE)

2. Jason E. Roos, CIO, KAUST University (KSA)

3. Mario Foster, CIO, Al Naboodah Group (UAE)

4. Veneet Purushotaman, Group CIO, Aster DM Healthcare LLC (UAE)

5. Anthony Lynsdale, VP Information Technology, Atlantis Dubai (UAE)

6. Abeer Khedr, Head of Cybersecurity, National Bank of Egypt (Egypt)

7. Heide Young, Manager Cyberstrategy and Engagement NEOM (KSA)

8. Murat Özkan, Chief Information and Digital Officer, Anadolu Efes (Turkey)

9. Sirin Aktas, CIO, Edenred Turkey (Turkey)

10. Mohamed Al Doseri, CISO, Tasheel Finance (KSA)

The complete list of CIO50 Awards winners listed alphabetically:

Ahmad Yahya, Chief Operating Officer/Chief Information Officer, American Hospital Dubai (AHD). Ali Juma Alajme, Digital Health Department Director, Ministry of Health and Prevention UAE.Aliasgar Bohari, Senior Director – IT, Zulekha Hospital.Arul Jose Vigin, Head of IT, DIFC Courts.Atul Aggarwal, Area Director of IT, Caesars Palace.Aysegul, CIO, Index Group.Damian O Gara, Chief Digital and Information Officer, Kent.Dr. Reem Faraj Alshammari, CISO, Kuwait Oil Company.Erol Ozguner, CIO, Istanbul Metropolitan Municipality.Fusun Borluq, Director of IT agile management, robotic process automation and quality, IGESA.George Eapen, Group CIO, Petrofac Limited.Germin Abouel, CIO, The British University in Egypt.Gigi Matthew Thomas, Group Head – IT & Digital Transformation, Ittihad International Investment LLC.Hajar Al Maazmi, SVP – Head of Information Technology, Ajman Bank.Hana Fareed Alsaleh, Head of IT, Al Jabr Finance.Hayriye Karadeniz, CIO and CDO, Ford Otosan Turkey.Hesham Daabes, CIO, Banque du Caire.Hisham Mohamed Aly, CISO, Emirates NBD Egypt.Hoda Alkhzaimi, Director, Center of Cyber Security in New York University Abu Dhabi.Jacob Matthew, Head of IT, Government of Abu Dhabi.Jijish Gopi, CSO, Department of Finance Dubai.Krishnan Gopi, Group Chief Disruption Officer, GEMS Education.Lars Gerhmann, Group Chief Digital Officer, Qatar Insurance Group.Mai Bader Alowaish, Chief Data and Innovation Officer, Gulf Bank of Kuwait.Manal Allam, IT Head and Business Partner, MerckMuath Alhomoud, CISO, Smart Digital Payments Holding.Mubarik Hussain, IT Director, Bloom Holding.Nani Mohammed Butti, Director Information System, Ministry of Youth and Sport Affairs Bahrain.Nicole Webb, Manager Information Technology, Atlantis Dubai.Pankaj Bajaj, Head of Technology, Capital Health Abu Dhabi.Ph.D. Mohamed Hamed, CIO, Platino Group.Shahrin Oli Mohamed, Head of Information & Digital Technology, Shell LNG Trading.Sreedhar Suragouni, CIO, Oman Insurance Company.Sunil Nair, Group Chief Information Officer, GMG.Umesh Moolchandani, CIO, Bin Dasmal Group.Venkatesh Mahadevan, CIO, Dubai Investments PJSC.WILFREDO PÉREZ RIVERO, CIO, Infinity des Lumieres.Wissam Al Adany, Group CIO, ADES Arabia Holding.Yahyah Pandor, Chief Information and Digital Officer, Fine Hygienic Holding.

CIO of the Year

 Shumon Zaman, CIO and CDO at Ali & Sons

Leadership in Innovation

Veneeth Purushotaman Group CIO at Aster DM Healthcare LLC

Leadership in Culture and Diversity

Shahrin Oli Mohamed, Head of Information & Digital Technology at Shell LNG Trading

Leadership in the Workplace

Umesh MoolchandanI, CIO at Bin Dasmal Group

Leadership in Data Intelligence

Ahmad Yahya, COO and CIO at American Hospital Dubai

Leadership in Cybersecurity

Abeer Khedr, Head of Cybersecurity at National Bank of Egypt

IT Team of the Year

Atlantis The Palm

The CIO50 Middle East Awards criteria

CIO50 Middle East was judged on the core pillars of innovation, culture and diversity, workplace, data intelligence and cybersecurity, honoring transformational, inspiring, and enduring CIOs at both in-country and regional levels within the Middle East.

All entries were reviewed by a select and independent CIO50 Middle East judging panel, John Barton, ex-CIO at Abu Dhabi Airports, Shafique R Ibrahim, ex Chief Information Digital Officer, Debbie Botha, Women in AI Global Chief Partnership, Carmen Marsh, President and CEO at United Cybersecurity Alliance, Mario Moreno del Toro, Editorial Coordinator Computerworld and CSO Foundry Spain and Victoria Mendes, Research Manager at IDC MEA, who rated each section of the questionnaire to determine the final list. The most powerful nominations provided real-world examples of where technology and digital chiefs are successfully providing value to organizations, driving innovation and leading teams.

Foundry congratulates all CIO50 Middle East winners and finalists in 2022.

CIO

CIO ASEAN is proud to launch the CIO75 ASEAN awards for 2022, recognising the top 75 senior technology executives and teams in Southeast Asia and Hong Kong driving innovation and influencing rapid change.

The CIO75 ASEAN awards are aligned to Foundry’s global awards program and viewed as a mark of excellence within the enterprise.

First launched as the CIO50 ASEAN awards in 2019, the decision to expand the initiative to 75 awards in 2021 was in recognition of a wealth of standout submissions, increased interest levels, and a desire to showcase examples of best transformation practice across all markets and sectors in Southeast Asia, focussing on the ASEAN countries and Hong Kong.

Nominations are now open for the 2022 awards, with all entries to be reviewed by a select and independent CIO75 ASEAN judging panel which will rate each section of the questionnaire to determine the final list.

The role of technology leaders — whether CIO, CTO, or CDO — continues to change at pace postpandemic, driven by the emergence of new technologies, business models, and market dynamics. The CIO75 ASEAN awards capture this change through highlighting the innovative work of individuals and organisations across the region.

In housing the most influential IT executives and teams across Southeast Asia and Hong Kong, the CIO75 ASEAN awards speak directly to the reality of how organisations continue to evolve after the pandemic and where CIOs are concentrating resources to capitalise on future opportunities.

Whether a small project or large companywide initiative, submissions span digital transformation, cloud, and security, in addition to infrastructure modernisation, agile workplace innovation, and the implementation of both established and emerging technologies.

CIO75 ASEAN Awards core pillars

In 2022, the CIO75 ASEAN awards will be judged on the core pillars of innovation and leadership, honouring transformational, inspiring, and enduring CIOs at both in-country and regional levels within Southeast Asia and Hong Kong.

Under the innovation pillar, the nomination will describe the technology innovations introduced over the past two years that have changed the way the business operates.Under the leadership pillar, the nomination will describe the ways in which the technology leader has collaborated and influenced the organisation and its leadership team.

New CIO75 ASEAN Team of the Year awards

In addition to individual recognition is the launch of the new Team of the Year awards spanning the key categories of Innovation, Customer Value, Strategy, Talent, Resiliency, and Culture:

Innovation: This award recognises technology teams introducing innovative new solutions to enhance business value and meet transformation objectives. Innovation can be internal and help change the way an organisation operates or external and focused on meeting market growth aspirations.Customer Value: This award recognises technology teams delivering increased levels of customer value and experience through a refreshed approach to user engagement. Customer Value can span new projects, solutions, and initiatives, in addition to processes, business models, and operations.Strategy: This award recognises technology teams displaying increased alignment with strategic business objectives, driving collaboration to meet evolving corporate goals. Strategy can cover business-impact initiatives (projects, company goals) and help highlight how technology departments are working closely with all aspects of the organisation.Talent: This award recognises technology teams creating an enhanced environment for talent development and growth, allowing skilled individuals to flourish and upskilling to thrive. Talent can include new capabilities and competencies, or employee talent programs and market initiatives.Resiliency: This award recognises technology teams displaying increased levels of resiliency amid challenging societal, industry, and economic environments, overcoming such roadblocks through determination, collaboration, and durability. Resiliency is a crucial attribute of any successful department and demonstrates the power of teamwork in the face of adversity.Culture: This award recognises technology teams creating an internal culture that inspires individual growth and allows teams to achieve personal and professional goals. Culture can include increasing cultural diversity, celebrating team wins, and/or mentoring staff, among others.

CIO75 ASEAN Awards entry criteria

The CIO75 ASEAN awards are open to the top technology leader within an organisation who has overall responsibility and control of the ICT vision and direction for the company in Southeast Asia and Hong Kong. This C-level executive will spearhead innovation while also operate at the forefront of decision-making and strategic change.

All nominations will be reviewed by a select and independent judging panel comprising of CIO.com editors, industry analysts, past CIO Awards winners, and IT executives from other regions who will rate each section of the questionnaire to determine the final list and select the team-based award winners.

Specifically, the CIO75 ASEAN awards questionnaire seeks to determine:

The technology innovations that have changed the way an organisation operatesWhy the innovations are unique in the marketplaceHow the C-level executive collaborates with and influences the organisation and its leadership teamThe role technology plays in helping the organisation achieve its objectives

The more powerful nominations will be the ones that can provide real-world examples of where technology and digital chiefs are successfully providing value to their organisations, driving innovation, and leading their teams.

Awards winners will be unveiled at the annual CIO75 ASEAN Symposium and Awards held in person on Thursday 1 December 2022 at Marina Bay Sands in Singapore.

To nominate for CIO75 ASEAN awards, complete this questionnaire.To register interest in attending the CIO75 ASEAN awards event, complete this application.IT Leadership

CIO ASEAN is proud to launch the CIO75 ASEAN awards for 2022, recognising the top 75 senior technology executives and teams in Southeast Asia and Hong Kong driving innovation and influencing rapid change.

The CIO75 ASEAN awards are aligned to Foundry’s global awards program and viewed as a mark of excellence within the enterprise.

First launched as the CIO50 ASEAN awards in 2019, the decision to expand the initiative to 75 awards in 2021 was in recognition of a wealth of standout submissions, increased interest levels, and a desire to showcase examples of best transformation practice across all markets and sectors in Southeast Asia, focussing on the ASEAN countries and Hong Kong.

Nominations are now open for the 2022 awards, with all entries to be reviewed by a select and independent CIO75 ASEAN judging panel which will rate each section of the questionnaire to determine the final list.

The role of technology leaders — whether CIO, CTO, or CDO — continues to change at pace postpandemic, driven by the emergence of new technologies, business models, and market dynamics. The CIO75 ASEAN awards capture this change through highlighting the innovative work of individuals and organisations across the region.

In housing the most influential IT executives and teams across Southeast Asia and Hong Kong, the CIO75 ASEAN awards speak directly to the reality of how organisations continue to evolve after the pandemic and where CIOs are concentrating resources to capitalise on future opportunities.

Whether a small project or large companywide initiative, submissions span digital transformation, cloud, and security, in addition to infrastructure modernisation, agile workplace innovation, and the implementation of both established and emerging technologies.

CIO75 ASEAN Awards core pillars

In 2022, the CIO75 ASEAN awards will be judged on the core pillars of innovation and leadership, honouring transformational, inspiring, and enduring CIOs at both in-country and regional levels within Southeast Asia and Hong Kong.

Under the innovation pillar, the nomination will describe the technology innovations introduced over the past two years that have changed the way the business operates.Under the leadership pillar, the nomination will describe the ways in which the technology leader has collaborated and influenced the organisation and its leadership team.

New CIO75 ASEAN Team of the Year awards

In addition to individual recognition is the launch of the new Team of the Year awards spanning the key categories of Innovation, Customer Value, Strategy, Talent, Resiliency, and Culture:

Innovation: This award recognises technology teams introducing innovative new solutions to enhance business value and meet transformation objectives. Innovation can be internal and help change the way an organisation operates or external and focused on meeting market growth aspirations.Customer Value: This award recognises technology teams delivering increased levels of customer value and experience through a refreshed approach to user engagement. Customer Value can span new projects, solutions, and initiatives, in addition to processes, business models, and operations.Strategy: This award recognises technology teams displaying increased alignment with strategic business objectives, driving collaboration to meet evolving corporate goals. Strategy can cover business-impact initiatives (projects, company goals) and help highlight how technology departments are working closely with all aspects of the organisation.Talent: This award recognises technology teams creating an enhanced environment for talent development and growth, allowing skilled individuals to flourish and upskilling to thrive. Talent can include new capabilities and competencies, or employee talent programs and market initiatives.Resiliency: This award recognises technology teams displaying increased levels of resiliency amid challenging societal, industry, and economic environments, overcoming such roadblocks through determination, collaboration, and durability. Resiliency is a crucial attribute of any successful department and demonstrates the power of teamwork in the face of adversity.Culture: This award recognises technology teams creating an internal culture that inspires individual growth and allows teams to achieve personal and professional goals. Culture can include increasing cultural diversity, celebrating team wins, and/or mentoring staff, among others.

CIO75 ASEAN Awards entry criteria

The CIO75 ASEAN awards are open to the top technology leader within an organisation who has overall responsibility and control of the ICT vision and direction for the company in Southeast Asia and Hong Kong. This C-level executive will spearhead innovation while also operate at the forefront of decision-making and strategic change.

All nominations will be reviewed by a select and independent judging panel comprising of CIO.com editors, industry analysts, past CIO Awards winners, and IT executives from other regions who will rate each section of the questionnaire to determine the final list and select the team-based award winners.

Specifically, the CIO75 ASEAN awards questionnaire seeks to determine:

The technology innovations that have changed the way an organisation operatesWhy the innovations are unique in the marketplaceHow the C-level executive collaborates with and influences the organisation and its leadership teamThe role technology plays in helping the organisation achieve its objectives

The more powerful nominations will be the ones that can provide real-world examples of where technology and digital chiefs are successfully providing value to their organisations, driving innovation, and leading their teams.

Awards winners will be unveiled at the annual CIO75 ASEAN Symposium and Awards held in person on Thursday 1 December 2022 at Marina Bay Sands in Singapore.

To nominate for CIO75 ASEAN awards, complete this questionnaire.To register interest in attending the CIO75 ASEAN awards event, complete this application.IT Leadership

If you’ve noticed changing patterns of fraud and the way your business manages fraud threats since the start of the pandemic, you’re not alone. Our latest survey of industry trends, with MRC and Verifi, the 2022 Global Fraud and Payments Report, highlights some important shifts in the extent of fraud and the way merchants are responding to it. It also reveals what merchants really think about upcoming rule changes.

Here are the key take-outs for 2022:

Fraud is on the rise…

For the second year running, fraud KPIs are on the rise. Estimated global revenue lost to fraud is up 16% — and in North America there was a sharp jump of 38%. 

% of revenue lost to fraud 1

Cybersource

…but spending on fraud is not

Despite the uptick in fraud, the overall amount merchants have spent on tackling fraud globally has flatlined since 2020. One explanation could be that managing fraud already accounts for a large proportion of merchants’ budgets. On average one-tenth of e-commerce revenue is spent on the issue. It’s a particular drain on resources for mid-sized firms:

% of eCommerce revenue spent managing fraud, by business size 2

Cybersource

Reducing manual reviews is in merchants’ sights

Given the significant ongoing costs of fraud management, it’s little wonder the majority of merchants are looking to reduce the amount spent on time-consuming manual reviews.

While most merchants foresee retaining a manual review process, 12% are planning to eliminate it entirely. In Europe this figure is even higher, with nearly one in five merchants planning a complete phase-out.

Role of manual review in future fraud management strategy 3

Cybersource

Merchants have a diverse armory

Fraud threats are a complex and constantly shifting threat, and merchants commonly use a number of approaches to tackle them.

On average, merchants use four different tools when detecting and thwarting fraud, although merchants who are members of the Merchant Risk Council typically use double that. Larger merchants also use a wider array of approaches than SMBs.

Global top five fraud-prevention methods 4

Cybersource

Changes are no big surprise

Regulatory changes are a potential minefield for merchants, but those we surveyed are generally pretty positive about incoming rules on customer authentication.

As the graph below indicates, merchants are feeling confident about the industry-wide implementation of EMV-3DS. Meanwhile changes to the EU’s Payment Services Directive (PSD2) are expected to have a major impact on organizations doing business in/with Europe. Here too, the vast majority of merchants feel at least partially prepared. 

Merchant preparedness for EMV® 3DS and PDS2 / SCA 5

Cybersource

To find out more download the Cybersource and Merchant Risk Council’s 2022 Global Fraud and Payments Report

1 2022 Global Fraud and Payments Survey Report, MRC. Figure 4, p7
2 2022 Global Fraud and Payments Survey Report, MRC. Figure 5, p8
3 2022 Global Fraud and Payments Survey Report, MRC. Figure 6, p9
4 2022 Global Fraud and Payments Survey Report, MRC. Figure 16, p18
5 2022 Global Fraud and Payments Survey Report, MRC. Figure 8, p11
Fraud Protection and Detection Software, IT Leadership

Being on the forefront of enterprise storage in the Fortune 500 market, Infinidat has broad visibility across the market trends that are driving changes CIOs cannot ignore. To help make it quick and easy for IT leaders to get a reliable snapshot of the enterprise storage trends, we put together this “trends update” for the second half of 2022.

In less than five minutes, you can take hold of useful and relevant information that will help you make more insights-driven decisions over the next six months. The following five trends can be summed up in eight words: cyber resilience, automation, hybrid cloud, performance, availability, and consolidation. 

Trend #1: Critical nature of data and cyber resilience in the face of increasing cyberattacks

We predicted at the start of 2022 that cyber resilience from the storage estate would be critical this year because of the threats of cyberattacks. The 2022 KPMG Fraud Outlook report “A Triple Threat Across the Americas” affirmed the increasing challenges; 77% of respondents to the KPMG survey say their cyber risk will grow over the next year. Out of the respondents from companies with at least $10 billion in revenue, 85% say they experienced fraud losses in the last year, driven by cyber breaches. 

Check Point Research reported recently that it found 50% more cyberattack attempts per week on corporate networks globally in 2021 compared with 2020. Cybercrime cost U.S. businesses more than $6.9 billion in 2021, and only 43% of businesses feel financially prepared to face a cyberattack in 2022.

Furthermore, supply chain vulnerability has become a bigger issue in 2022. Indeed, 82% of CIOs believe their software supply chains are vulnerable. Software supply chain attacks have hit three out of five companies in the past year. The shift to DevOps and cloud native development have made security more complex. This is a multi-faceted trend to keep front and center.

Enterprise storage cyber resilience continues to need to be part of your corporate cybersecurity strategy.

Trend #2: Incorporating intelligent automation throughout the entire storage platform and modern data protection infrastructure

We have not been surprised to see the adoption of automation in the enterprise market, but what has made our prediction more relevant is the increasing demand for not only automation but specifically for autonomous automation.

The evidence that enterprises want the “autonomous” component to be built into storage platforms underscores what we forecasted for 2022. Enterprises want to autonomously automate their platforms for the variety of benefits they will obtain, including easier management, substantially more efficient use of IT resources, lower CAPEX and OPEX, sustainability, and self-learning capabilities for continuous improvement. 

Trend #3: Integration of storage technologies based on hybrid cloud and container tech

Storage-as-a-service (STaaS) is emerging in 2022 in a new light. The flexibility that enterprises and service providers have with STaaS is only increasing. IT leaders are turning to STaaS for a multitude of reasons, one of which is to take costs and convert them to a cloud-like consumption model, lowering CAPEX and OPEX and freeing up IT resources to work on other projects.

Integral to meeting customer demand amid this trend, Infinidat was named by DCIG, a leading IT and storage analyst firm, one of 2022’s top 5 Enterprise STaaS solution providers in the world.

Trend #4: Leveraging storage technology to ensure application and workload performance and availability

We predicted at the beginning of 2022 that there would be an enhanced focus on application latency of sub-100 microseconds. While there is a variety of storage performance metrics to consider, latency is the most critical determinant of your real-world transactional application and workload performance. We need to adjust this prediction because a new benchmark for latency was set in April 2022: sub-35 microsecond latency.

This is groundbreaking and has caused a recasting of this trend, as the new InfiniBox™ SSA II delivers lower latency than any other comparable enterprise storage platform in the industry at an unprecedented 35 microseconds of latency. This enhancement allows customers to not only have optimal application and workload performance, but also allows for substantial storage consolidation which reduces data center CAPEX and OPEX.

The impact of lower latency in the enterprise storage infrastructure is dramatically transforming storage performance, increasing efficiency, and reducing total cost of ownership (TCO).

Trend #5: The power of storage consolidation

We have gathered information over the past six months to warrant our introducing a trend for the second half of the year that we had not included on our list in January: enterprise storage consolidation.

Part of the reason that consolidation makes it on our mid-year trends update is not only because enterprises can significantly reduce their costs (which they have been with Infinidat for several years), but also because storage consolidation has emerged as a first pass for enterprises to turn their IT environment into AIOps-based data centers.

Storage consolidation essentially paves the way, giving enterprises the opportunity to evolve their platform strategy and reduce the physical assets in their storage estates.

Consolidation also simplifies the work of storage administrators, cybersecurity managers, and other IT personnel. Having 50 storage arrays translates into more complexity than five InfiniBox® systems. You’re able to take a set-it-an-forget-it approach, and then focus more on how to leverage AIOps for your benefit.

At the same time, consolidation of storage arrays delivers savings, including power, cooling, rack space, security, floor space, and operational manpower. It fits perfectly into environmentally friendly “green IT” strategies to meet organizational sustainability goals, which are increasingly part of over-arching enterprise digital transformations.

To download a PDF of these market trends for your quick and easy reference, click here.

Data Management