PEX Network brings you the latest news in process and operational excellence, business process management (BPM), digital transformation, Lean Six Sigma, data mining and more.
Week of 01/08, 2024.
Process optimization driving infrastructure-as-a-service market growth
The global infrastructure-as-a-service (IaaS) market size is anticipated to grow from US $80 billion to $806.85 billion in the next 10 years, driven by the growing need to optimize business processes. That’s according to new research from The Brainy Insights. Artificial intelligence (AI) will play a key role in this growth, with North America expected to dominate the market during the forecast period, the firm added. The region is home to the headquarters of major IaaS providers, which propels innovation in the industry.
IaaS refers to outside parties providing cloud services to companies. IaaS is highly scalable and adaptable, requiring no significant infrastructure improvements or large upfront expenditures. It gives users access to networking, storage and processing power, providing enterprises with several advantages. These include automating operations, which improves productivity and efficiency.
Global initiative to advance digital transformation of healthcare systems
A new World Economic Forum (WEF) initiative seeks to unlock the transformative potential of digital tools and new technologies such as AI in healthcare. The initiative, launched in collaboration with Boston Consulting Group (BCG), will harness the power of digital solutions to help address the host of pressing interconnected challenges straining the global healthcare system, according to BCG press release. The joint effort will foster international collaboration on promising new digital tools such as AI to reshape patient care and improve system inefficiencies worldwide.
“Digital transformation has the potential to overcome the serious challenges patients and populations are facing worldwide,” said Shyam Bishen, head of the center for health and healthcare and member of the WEF executive committee. “We are committed to providing an adaptable, cooperative platform to connect the dots and accelerate and scale up the innovative efforts of key change-making organizations in healthcare globally.”
Transforming Healthcare: Navigating Digital Health with a Value-Driven Approach, a new report by the WEF and BCG, underscores the urgent need for concerted collaboration on the scaling up of digital solutions to the triad of challenges straining health systems today: insufficient financial and human resources, the increasing burden of chronic diseases and inequitable outcomes and access to care.
SoundCloud hires Tom Sansone to execute strategic roadmap through “operational rigor”
Music and podcast streaming platform SoundCloud announced Tom Sansone as its new chief financial officer (CFO)/chief operating officer (COO). In his new role, Sansone will help drive the execution of SoundCloud’s strategic roadmap through “operational rigor,” said Eliah Seton, chief executive officer (CEO). Sansone has more than 20 years of global financial and operational excellence in the technology and music industries and a track record of leading business transformation. He joins SoundCloud from Kobalt Music Group.
“Tom is a proven global executive with a highly differentiated and relevant skill set that includes accelerating business transformation, establishing operational and financial discipline and executing strategic alternatives,” commented Seton. “Now that we are a profitable growth company and in control of our own destiny, Tom will be a key partner in helping us realize SoundCloud’s unique opportunity and industry-changing vision.”
South East Water recognized for operational excellence
South East Water has become the first water company presented with the UK and Ireland Kaizen Institute Award for the development of its operational excellence initiatives and framework. To gain the award, South East Water demonstrated how it has directed its efforts on maximizing operations performance, securing efficiency and effectiveness in terms of productivity, quality and cost reduction over the last three years.
“This included the development of visual management standards for production sites, summary dashboards for managers to track improvements and relevant local performance metrics that link through to wider company measures,” commented Douglas Whitfield, operations director at South East Water. These processes have encouraged the adoption of best practice across operations and help us to embed a culture of operational excellence and continuous improvement, he added.
Infosys financial results reflect “resilient performance” in seasonally weak quarter
Multinational information technology company Infosys released its financial results for the third quarter of 2023, reflecting a “resilient performance” in a seasonally weak quarter. According to the company, a leading provider of business consulting, information technology and outsourcing services, for the quarter ended December 31, 2023:
- Revenues in CC terms declined by 1.0% YoY and QoQ.
- Reported revenues were at $4,663 million, a growth of 0.1% YoY.
- Operating margin was 20.5%, a decline of 1.0% YoY and 0.7% QoQ
- Basic EPS was at $0.18, a decline of 7.1% YoY
- FCF was $665 million, a growth of 15.5% YoY; FCF conversion was 90.6% of net profit.
“Our performance in Q3 was resilient. Large deal wins were strong at $3.2 billion, with 71% of this as net new, reflecting the relevance and strength of our portfolio of offerings ranging from generative AI, digital and cloud to cost, efficiency and automation” said Salil Parekh, Infosys CEO and managing director. “Our clients are leveraging our Topaz generative AI capabilities and our Cobalt cloud capabilities to create long-term value for their businesses”, he added.
Schneider Electric identifies new decarbonization pathways for Middle East
Schneider Electric, a leader in the digital transformation of energy management and automation, launched its latest research report offering a look into the decarbonization of the Middle East by 2060. Compiled by the Schneider Electric Sustainability Research Institute (SRI), the report highlights Schneider Electric’s commitment to energy-efficient solutions across the region and beyond.
“The findings from this report offer crucial insights into the unique challenges and opportunities associated with the energy transition in the Middle East, and highlight the balance required between technological advancements and policy development in the pursuit of decarbonization,” commented Vincent Petit, SVP, climate and energy transition research, head of the Schneider Electric SRI.
Mitsubishi Corp. invests in ThinkIQ to accelerate digital transformation in manufacturing
Mitsubishi Corporation has invested in digital manufacturing transformation solutions company ThinkIQ to drive digital transformation in the manufacturing industry. Mitsubishi Corporation is partnering with ThinkIQ to accelerate digital transformation with smart manufacturing solutions for the many industrial supply chains in its ecosystem and to support the growth of ThinkIQ’s digital manufacturing platform in Japan, the firms stated.
“Our team has spent years driving thought leadership for a digital transformation strategy for the manufacturing sector, as well as doing research and diligence to find the right partner to drive adoption of those strategies into our industrial supply chains, and we are excited to have chosen ThinkIQ as our technology partner,” commented Yoshiyuki Watanabe, division COO of Mitsubishi Corporation. Terms of the investment were not disclosed.