Amidst the Covid-19 pandemic, it is imperative for SMEs to transform to adapt to the uncertain climate and build a sustainable business model. Through this summit, SME business owners will get the opportunity to gain insights from fellow attendees who are industry leaders, successful entrepreneurs, investors and service providers.
We recently caught up with Ganesh Kumar, founder of Commerce.Asia, MOL Access Portal, Immediate Past Chairman of PIKOM and Board Member of the Malaysian Global Innovation And Creativity Centre (MAGIC).
Ganesh Kumar will be one of the speakers at The Virtual Hash Asia Summit 2020 on the 17th and 18th of June 2020, which is all about ‘Harnessing Transformation During Adversity For SMEs Through Holistic Development’.
Asia Blockchain Review (ABR): Firstly, thank you for taking the time to talk to Asia Blockchain Review. We greatly appreciate your time and consideration in this matter. First and foremost, how are things with you and the company as we navigate this new normal?
Ganesh Kumar (GK): I think the COVID-19 pandemic is the greatest disruptor to face our global economy thus far. It has resulted in a lot of negative effects for governments, people and businesses. That said, my view is that it has had a very positive effect on the growth of the Digital Economy. In fact, the COVID-19 pandemic has been the biggest accelerator we have had in the industry.
ABR: With the ongoing global pandemic, supply chain disruptions, trade war imbalances and now violent protests over the recent ‘George Floyd’ debacle, the situation in the US must be quite precarious for businesses. What’s your take on all this? How does it affect APAC?
GK: Recent events have resulted in volatile markets and periods of uncertainty worldwide. What I foresee for APAC is that raising funds could prove to challenge for some businesses as the region adapts to “the rules of the new norm”. Done right, businesses can turn new technologies into a powerful force for transforming and redefining their own future. The key is that businesses need to continue staying relevant with the times.
ABR: There is also a concern that Covid-19 related pressures may be making Digital Transformation (DX) a tad bit rushed these days. A recent report suggested that these hasty measures being implemented may not be future-proofed. What’s your take on this issue?
GK: I do not think it’s an issue. The whole process of digital transformation has to be an iterating one. It’s not as if you have something that’s perfect from day one, right? Digital transformation takes phases. You try something and you see if it works. If it works you iterate on it and make it better and better.
What COVID-19 has done is to accelerate the whole process making it a lot faster than it was before. I don’t think that’s actually bad because the whole process of iteration will actually go on for a long time after to make the solutions that were developed during COVID19 more future proof.
So it’s about iteration – it’s not like ten years ago when you straight up develop a solution and then you can use it for five years. Today’s solutions are developed and then iterated on making them better over time – then it becomes future proof – and businesses need to continuously innovate and improve their products over time.
Be sure to check out the second part of the interview with Ganesh Kumar soon!
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Anil started his career in journalism all the way back in 2003. After traversing the sphere of editorial, corporate communications and advertising, he has now come full circle and is back in the world of journalism. He believes in the power of the written word, and its ability to enthrall, delight and inform the reader.
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