CXOInsights by CXOCIETY

George Leung Siu-kay, CEO of the Hong Kong General Chamber of Commerce, reveals that companies in Hong Kong are struggling with an emigration wave that has pushed turnover rates above 20%, with the loss being felt especially keenly in their middle ranks While helping, increasing salaries alone should not be seen as a cure-all for the situation, as not every organisation can afford to battle a wage...

Network security consists of the policies, processes and practices adopted to prevent, detect and monitor unauthorized access, misuse, modification, or denial of a computer network and network-accessible resources. According to the 2023 Global State of Cybersecurity Study by Infoblox, the average organisation in Singapore experiences 54 security incidents per day. It concludes that there’s growing...

History tells us that the ideals of customer experience can be traced to the development of market research as a method of improving advertising in the 1920s. The practice spread to other sectors following World War II the boom of consumerism. So nearly a hundred years has passed with much experience and an abundance of technology, we must ask: have we achieved the pinnacle of customer experience...

In the meantime, however, CISOs need to acknowledge that is important to the board. This means not only showing how the cybersecurity program prevents bad things from happening. But perhaps more importantly, how cybersecurity improves the enterprise’s ability to take risks effectively. Even better, how to use cybersecurity as a competitive advantage.  Gartner recommends CISOs get ahead of the chan...

According to Forrester, a customer experience (CX) leader, is in charged of aligning the organization around customer value. From the C-suite on down, the customer experience leader needs to advance customer-centricity — evaluating experiences from the customer’s point of view.  Forrester says this approach drives loyalty and growth. But rallying the necessary level of focus and alignment is tough...

Digital transformation is easy to say, arguably hard to implement and failures continue to occur even as we learn from our own experiences and those of others. Why is digital transformation difficult? Some argue it is because transformation refers to a change to something that's core to the business. That it is not only about using new technologies and optimizing processes, but it encompasses...

PodChats for FutureCIO: How a data-driven strategy enables AIA to deliver on its customer promises  The COVID-19 crisis continues to have a significant impact on individuals, society, businesses and the wider economy across the globe. The insurance industry has not escaped its impact, but insurers have responded quickly to the crisis. Deloitte says as the broader economy recovers and responds to t...

The cloud infrastructure and platform services (CIPS) market consists of standardized, highly automated offerings in which infrastructure resources such as compute, networking, and storage are complemented by integrated platform services (managed application, database, and functions as-a-service offerings). Gartner predicts that by 2027, more than 50% of enterprises will use industry cloud platfor...

A database is a collection of structured information, or data, typically stored electronically in a computer system.  A data architecture is a framework of models, policies, rules and standards that an organization uses to manage data and its flow through the organization. Given how and where data today is created, consumed and managed, you have to wonder whether the approaches to data, data archi...

Gartner says the endlessly expanding digital footprint of modern organizations is introducing new security challenges. The pandemic response has accelerated hybrid work and the digitalization of business processes in the cloud.  2022 showed us what sustained big game ransomware attacks, including multiple attacks on the digital supply chain, deeply embedded vulnerabilities, and increasing attacks...

The explosion in cloud computing adoption, including compute, storage, connectivity, has led to some finance leaders asking what are we doing. Costs of public cloud IaaS and PaaS can quickly get out of control. The spend variability and absence of capacity constraints, coupled with an increased user autonomy, require new cost governance models that organizations do not possess. Gartner analyst, Ly...

We are all familiar with the concepts of risks and uncertainty. Risk is a quantifiable element of doing business, whereas uncertainty is something we'd like to be prepared for but often challenging to quantify. Events of the past three years, including those occurring now, have exposed us to both and while we can't absolutely predict uncertainty, we can at least work towards mitigating t...

Gartner says businesses are challenged to bring value and innovation wherever their customers are. For CIOs and infrastructure and operations (I&O) leaders the focus is on enhancing customer experiences and developing staff and skills while building and operating resilient, sustainable, secure, and scalable platforms and systems. With CIOs under pressure to innovate while keeping the lights on...

The Omdia report, Asian IoT Megatrends Report , posits that APAC offers great potential for IoT applications , but fragmentation presents complex challenges for businesses in the region. It also acknowledged that the region lags the rest of the world in year-to-date adoption but at the same time claims that only APAC offers a massive capacity for growth. The report concludes that with IoT enabled...

The total commercial and industrial robot base is currently estimated to be 3.5 million units in 2022, according to the International Federation of Robotics. ABI Research expects this number to grow to more than 20 million by 2030. Perhaps the even more impressive news is the forecast by ABI Research that by 2024, the industrial manufacturing sector will have installed over 15 million AI-enabled d...

The IBM Institute of Business Value report, 2023 Global Outlook for Banking and Financial Markets , paints three themes facing banks and financial markets: (1) an uncertain world calls for financial services institutions that can flex as needed; (2) healthier financial performance depends, in part, on business and technology leaders who function as coequals; and (3) the next systemic crisis could...

Gartner says application modernization services address the migration of legacy to new applications or platforms, including the integration of new functionality to provide the latest functions to the business.  Modernization options include re-platforming, re-hosting, recoding, rearchitecting, re-engineering, interoperability, replacement and retirement, as well as changes to the application archi...

The three years since 2020 saw organisations focus on digitalisation, payment efficiency, security, and cash forecasting. With continuing uncertainty in 2023, how are CFOs and treasurers calibrating their strategies in the years ahead to reflect desires for growth and profitability, a return to business as usual in the face of unpredictability and market volatility. Joining us to find better ways...

Shared services are the consolidation of business operations that are used by numerous parts of the same organisation, or different business units that are part of a conglomerate. In some instances, these shared services capabilities have been honed to the point where they are spun off as independent businesses selling their capabilities to other companies outside of the group. Just how lucrative...

“Against a backdrop of unrelenting social and economic pressures, marketing leaders look toward a future where smarter marketing leads to deeper, more valuable connections between customers and brands,” said Andrew Frank, Distinguished VP Analyst in the Gartner Marketing practice. Gartner says in the years to come marketers will face greater scrutiny over their operations. What strategies should m...

S&P forecasts that Asia-Pacific will achieve real growth of 3.5% in 2023 while Europe and the U.S. will likely face recession. But Asia, being a supplier to the world, will likely not be totally out of the woods. Technology has made financial reporting easy for everyone involved in the process, from the finance and accounts team preparing reports to the regulators, investors, and others who us...

2022 was a colourful year for Asia Pacific with the continuing pandemic and the Ukraine-Russia war combining to strain even further the global supply chain of which APAC is a major part. Into 2023, we remain hopeful that economies in the region will pick up from 2022 and continue their recovery journeys. One of the notable technology trends that saw significant adoption from 2020 onwards is cloud...

“In the midst of every crisis, lies great opportunity” Albert Einstein In times of recession, the often approach taken is cutting corners. Budget cuts can come in the form of delayed expansion, modernisation plans or upgrades, cutting marketing budgets, and in some cases layoffs. While technology spend is not immune from any budget cuts, arguments arise when the cybersecurity discussions come into...

The chief technology officer, also known as a chief technical officer or chief technologist, is an executive-level position focused on the scientific and technological issues within an organisation. A CTO is very similar to a chief information officer. It can be argued that the shortening cycle of technology advances coupled with the near-constant uncertainty that is the hallmark of 2022 will cont...

A Cybersecurity Ventures report, Women in Cybersecurity 2022 , estimates that women held about 25% of cybersecurity roles globally, up from 20% in 2019 or 10% in 2013.  The forecast looks promising that by 2025, women will hold 30% of cybersecurity roles and 35% by 2031. So there is some progress. However, given the long road ahead, how should we prepare in the current generation of women aspiring...