![\"computershopping-bag\"](\"http://www.bworldonline.com/wp-content/uploads/2016/07/computershopping-bag.jpg\")
By Romsanne R. Ortiguero
\nOftentimes, disruption is negatively defined as a disturbance or a problem that interrupts an event, activity, or process. In this day and age characterized by waves upon waves of technological advancements, digital revolution permeates everyone\u2019s lives including how companies do their businesses.
\nHowever, disruptions can turn into great opportunities; and having this mind-set as a response to these changing times have set some businesses apart from the rest.
\nThis had been one of the focus of the recently concluded 大象传媒 Economic Forum held last May 18 at Grand Hyatt Manila in Taguig City. In one of the afternoon sessions titled \u201cFinding Opportunities in the Age of Disruption,\u201d Orlando B. Vea, president and CEO of Voyager Innovations; Anthony Thomas, CEO of Mynt (Globe Fintech Innovations, Inc.); Brian Cu, country head of Grab Philippines; and Miguel Cuneta, co-founder and chief community officer of Satoshi Citadel Industries (SCI), shared valuable inputs on how they were able to and continue to navigate the disruptive digital revolution to make their companies sustainable and competitive.
\nIn his presentation, Mr. Cuneta underscored that the response to disruption is mostly unfavorable, and identifying those reactions can be advantageous.
\n\u201cThe initial response to disruptive technology is usually fear, doubt, or resistance. Fear because of the unknown, and resistance because we\u2019re naturally resistant to change; and it doesn\u2019t help that the incumbents feel threatened and fight back \u2014 trying to defend their position,\u201d Mr. Cuneta shared.
\n\u201cEventually, the very disruptive technologies that people were afraid of become basic utilities. What are the examples of disruptive technologies today and how do we identify them? We actually just need to know what people are afraid of,\u201d he continued.
\nMr. Cuneta added that those who dismiss disruptive technologies are usually the ones who get to be affected by it, and old industries that don\u2019t adapt become obsolete. Moreover, the SCI co-founder also said that disruption is incessant and inevitable.
\n\u201cThere\u2019s no really age of disruption; it\u2019s really a constant process by which humanity uses technology to solve specific problems. It\u2019s necessary for us to become a more advanced society and truly, disruptive technology is unstoppable,\u201d he shared.
\nGiven that disruption constantly happens, all the speakers shared the same sentiment that disrupting themselves are necessary to be able to effectively navigate challenges, and make their companies resilient.
\nMr. Vea said, \u201cToday\u2019s disruption is tomorrow\u2019s business as usual. That\u2019s a fact of life. Before you\u2019re able to disrupt, you have to disrupt yourself first.\u201d
\nHe added that if you\u2019re an incumbent, disruption is a \u201cCEO thing\u201d \u2014 a decision that has to come from the very top.
\nMr. Cu also shared how Grab, known as a major disruptor in the country\u2019s transportation sector, has numerously needed to disrupt itself amid challenges such as government regulations and some negative feedback from the riding public in order to remain an agile company.
\n\u201cIt\u2019s important that for every disruptor not to forget your roots, not to forget the basics of why you came into the market, and disrupt the market that you wanted to. For us it is three simple rules: safe rides, convenient rides, and fast rides. Now, we have to re-look at all the processes we have built over the last five years and again disrupt ourselves to be able to deliver those three core values that we\u2019ve set out to do. It\u2019s always good to anchor yourselves to those basic values that you\u2019ve started off with,\u201d he shared.
\nThe speakers also underscored the importance of collaboration with different stakeholders or even between incumbents and start-ups. This collaboration would not only benefit the companies involved, but ultimately, the market that they are serving as well.
\nSaying that it is fundamentally about people, Mr. Vea said that disruption is not really meant to disrupt the competitor. Specifically for them at Voyager Innovations, disruption means to disrupt the inequalities and inefficiencies together with the incumbents, that\u2019s why they work together with competitors or with incumbents as partners.
\n\u201cI think we can only survive and grow with that kind of mind-set,\u201d noted Mr. Vea.
\nMr. Cu expressed the same view and said, \u201cWe cannot work in silos or as a single company trying to do it alone. It is important for start-ups or even large companies who are trying to drive disruption in a certain space to work with other stakeholders. Also, being enablers to a space and being a platform that allows different stakeholders to enjoy benefits of the services you provide is very important.\u201d
\nMr. Thomas echoed the same message, and said that as a financial technology provider, they are looking for opportunities to partner and collaborate if they see someone moving into the same business space as they are present in, and are solving the similar problems as they are.
\n\u201cWhat we aim to provide is really a better life for Filipinos,\u201d Mr. Thomas said.
\nAlso highlighting the significance of collaboration, Mr. Cuneta shared that no matter how incumbents or regulators resist, the market will eventually choose what is beneficial to them.
\n\u201cIt\u2019s in the better interest of start-ups, regulators, incumbents, and all the players to work together to make sure that the ultimate beneficiary of disruptive technology will be not just all of us here today but also the future generation,\u201d he said.
\n", "content_text": "By Romsanne R. Ortiguero\nOftentimes, disruption is negatively defined as a disturbance or a problem that interrupts an event, activity, or process. In this day and age characterized by waves upon waves of technological advancements, digital revolution permeates everyone\u2019s lives including how companies do their businesses.\nHowever, disruptions can turn into great opportunities; and having this mind-set as a response to these changing times have set some businesses apart from the rest.\nThis had been one of the focus of the recently concluded 大象传媒 Economic Forum held last May 18 at Grand Hyatt Manila in Taguig City. In one of the afternoon sessions titled \u201cFinding Opportunities in the Age of Disruption,\u201d Orlando B. Vea, president and CEO of Voyager Innovations; Anthony Thomas, CEO of Mynt (Globe Fintech Innovations, Inc.); Brian Cu, country head of Grab Philippines; and Miguel Cuneta, co-founder and chief community officer of Satoshi Citadel Industries (SCI), shared valuable inputs on how they were able to and continue to navigate the disruptive digital revolution to make their companies sustainable and competitive.\nIn his presentation, Mr. Cuneta underscored that the response to disruption is mostly unfavorable, and identifying those reactions can be advantageous.\n\u201cThe initial response to disruptive technology is usually fear, doubt, or resistance. Fear because of the unknown, and resistance because we\u2019re naturally resistant to change; and it doesn\u2019t help that the incumbents feel threatened and fight back \u2014 trying to defend their position,\u201d Mr. Cuneta shared.\n\u201cEventually, the very disruptive technologies that people were afraid of become basic utilities. What are the examples of disruptive technologies today and how do we identify them? We actually just need to know what people are afraid of,\u201d he continued.\nMr. Cuneta added that those who dismiss disruptive technologies are usually the ones who get to be affected by it, and old industries that don\u2019t adapt become obsolete. Moreover, the SCI co-founder also said that disruption is incessant and inevitable. \n\u201cThere\u2019s no really age of disruption; it\u2019s really a constant process by which humanity uses technology to solve specific problems. It\u2019s necessary for us to become a more advanced society and truly, disruptive technology is unstoppable,\u201d he shared.\nGiven that disruption constantly happens, all the speakers shared the same sentiment that disrupting themselves are necessary to be able to effectively navigate challenges, and make their companies resilient.\nMr. Vea said, \u201cToday\u2019s disruption is tomorrow\u2019s business as usual. That\u2019s a fact of life. Before you\u2019re able to disrupt, you have to disrupt yourself first.\u201d \nHe added that if you\u2019re an incumbent, disruption is a \u201cCEO thing\u201d \u2014 a decision that has to come from the very top.\nMr. Cu also shared how Grab, known as a major disruptor in the country\u2019s transportation sector, has numerously needed to disrupt itself amid challenges such as government regulations and some negative feedback from the riding public in order to remain an agile company.\n\u201cIt\u2019s important that for every disruptor not to forget your roots, not to forget the basics of why you came into the market, and disrupt the market that you wanted to. For us it is three simple rules: safe rides, convenient rides, and fast rides. Now, we have to re-look at all the processes we have built over the last five years and again disrupt ourselves to be able to deliver those three core values that we\u2019ve set out to do. It\u2019s always good to anchor yourselves to those basic values that you\u2019ve started off with,\u201d he shared. \nThe speakers also underscored the importance of collaboration with different stakeholders or even between incumbents and start-ups. This collaboration would not only benefit the companies involved, but ultimately, the market that they are serving as well. \nSaying that it is fundamentally about people, Mr. Vea said that disruption is not really meant to disrupt the competitor. Specifically for them at Voyager Innovations, disruption means to disrupt the inequalities and inefficiencies together with the incumbents, that\u2019s why they work together with competitors or with incumbents as partners.\n\u201cI think we can only survive and grow with that kind of mind-set,\u201d noted Mr. Vea.\nMr. Cu expressed the same view and said, \u201cWe cannot work in silos or as a single company trying to do it alone. It is important for start-ups or even large companies who are trying to drive disruption in a certain space to work with other stakeholders. Also, being enablers to a space and being a platform that allows different stakeholders to enjoy benefits of the services you provide is very important.\u201d \nMr. Thomas echoed the same message, and said that as a financial technology provider, they are looking for opportunities to partner and collaborate if they see someone moving into the same business space as they are present in, and are solving the similar problems as they are.\n\u201cWhat we aim to provide is really a better life for Filipinos,\u201d Mr. Thomas said.\nAlso highlighting the significance of collaboration, Mr. Cuneta shared that no matter how incumbents or regulators resist, the market will eventually choose what is beneficial to them. \n\u201cIt\u2019s in the better interest of start-ups, regulators, incumbents, and all the players to work together to make sure that the ultimate beneficiary of disruptive technology will be not just all of us here today but also the future generation,\u201d he said.", "date_published": "2018-05-31T09:20:53+08:00", "date_modified": "2018-05-31T09:20:53+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Anthony Thomas", "Brian Cu", "大象传媒", "collaboration", "digital revolution", "Disruption", "Economic Forum", "Grab Philippines", "Miguel Cuneta", "Mynt", "Orlando Vea", "Romsanne Ortiguero", "Satoshi Citadel Industries", "technology", "transportation", "Voyager Innovations", "BWEconomicforum", "Events" ] }, { "id": "http://www.bworldonline.com/?p=162391", "url": "/disruption/2018/05/31/162391/navigating-a-changing-workplace/", "title": "Navigating a changing workplace", "content_html": "\nIn the fourth and final session of the 大象传媒 Economic Forum, held on May 18, the spotlight was shone on an issue that deeply concerns many businesses today: the disruption of the workplace by technological advancements and the rise of the millennials.
\nA panel of three private-sector leaders was assembled to tackle the subject before the roughly 500 attendees of the forum, which took place in the Grand Ballroom of Grand Hyatt Manila in Taguig City.
\nThese leaders were Arthur R. Policarpio, co-founder and chief executive officer of Mobext Philippines, a mobile-first creative digital agency; Luis Miguel O. Aboitiz, executive vice-president and chief operating officer of the corporate business group of Aboitiz Power Corp.; and Camille A. Villar, managing director of Vista Land & Lifescapes, Inc.
\nMr. Policarpio\u2019s talk revolved around two trends he described as \u201cbig\u201d and \u201cdestructive.\u201d The first of which is the virtual company model. \u201cAt this point we should ask this question, \u2018Why should we even need to go to an office… when we can work anywhere?\u2019\u201d
\nHe cited the technology firm Automattic, which owns the content management system WordPress, as a company that has gone virtual. Its employees, who are located in a number of countries worldwide, largely work from home.
\n\u201cWhy should you embrace the virtual company model? Think about it, you have the capability to tap a talent pool of 50 million people anywhere in the world via the freelance marketplaces… You reduce your office costs, increase worker satisfaction, reduce traffic,\u201d Mr. Policarpio said.
\nCoinciding with the emergence of the virtual companies is the rise of the freelancers and the freelance Web sites. The development, Mr. Policarpio said, is \u201cmostly driven by the millennial work force who prefers flexibility and control over the way they want to work.\u201d And Filipinos are increasingly getting in on freelancing. One freelance marketplace, Mr. Policarpio said, has over a million Filipino members.
\nThe second trend is the sharing economy, and it has given rise to a whole new kind of company, a marketplace company that does not need a lot of physical assets to create real value, Mr. Policarpio said. \u201cThere are consumers or people who need services on one side, and you have people, not companies, who can provide those services on the other side. The marketplace business… creates a platform that enables those two to find each other,\u201d he explained.
\nFor navigating these trends, Mr. Policarpio said, \u201cCEOs need to be students all over again.\u201d He also suggested building a culture of learning into an organization since the millennials are \u201chungry for learning.\u201d
\nAutomation is also changing the workplace. Mr. Aboitiz had a personal encounter with one type of it, called semi-intelligent automation.
\n\u201cThe last time I was [in the United States], I was shocked because I had a problem with my cell phone. So I had called a call center. No person answered my call. It was a computer that answered the call. It conversed with me. It answered back. I didn\u2019t type any numbers on my phone. I just said the numbers, numbers of my credit card… any details it wanted,\u201d Mr. Aboitiz said. \u201cOnly when I asked questions that were unusual was I passed on to a real person.\u201d
\nIn boardroom decision-making discussions, Mr. Aboitiz believes that some of the questions that are going to be asked are: \u201cHow do we change?\u201d \u201cHow do we automate?\u201d \u201cWhat do we use to automate?\u201d \u201cHow do we transition from where we are to automation?\u201d \u201cDo we take big leaps or small strides?\u201d
\nMillennials are finding themselves answering these type of questions \u2014 and other important management questions \u2014 as they rise through the ranks into ever more senior positions.
\nBut these individuals are often misunderstood. \u201cThe problem, it seems, is that we tend to overly generalize traits that we attribute to them,\u201d Ms. Villar said. \u201cGeneralizations, while useful, must be employed with caution because they tend to overlook the uniqueness and complexities of all of us. Profiling a generation, be it baby boomers, the Gen X, or the millennials, should inform but not shape our thinking.\u201d
\n\u201cWith a generation of socially motivated, consumption-crazy but creatively innovative individuals starting to take over the work force, it is imperative that we acquire deeper understanding of their strengths and weaknesses in order to make informed strategic decisions,\u201d she added.
\nMs. Villar shared a few things she had learned about her generation that members of other generations may want to take note of. One is that they are outspoken but respectful of hierarchy and wisdom of experience. \u201cThe best millennial leaders I\u2019ve met both in and outside Vista Land have found a good balance between their passion for new ideas and pushing boundaries and… recognizing the value of knowledge established by time, tradition and mentors.\u201d
\nThey are \u201cflexible, independent, collaborative and innovative.\u201d Ms. Villar said this combination of characteristics allows them to thrive in an environment of constant innovation through collaboration. \u201cThus it becomes more important to mentor this generation in order to provide guidance and essential feedback mechanisms for self-correction and self-improvement.\u201d
\nMillennials are also \u201cinfinite learners,\u201d Ms. Villar said. \u201cCombining the easier access to data with the drive to learn more, millennial leaders have the potential to bring human society to heights unforeseen if given the right opportunity and proper understanding,\u201d she said.
\n", "content_text": "In the fourth and final session of the 大象传媒 Economic Forum, held on May 18, the spotlight was shone on an issue that deeply concerns many businesses today: the disruption of the workplace by technological advancements and the rise of the millennials.\nA panel of three private-sector leaders was assembled to tackle the subject before the roughly 500 attendees of the forum, which took place in the Grand Ballroom of Grand Hyatt Manila in Taguig City.\nThese leaders were Arthur R. Policarpio, co-founder and chief executive officer of Mobext Philippines, a mobile-first creative digital agency; Luis Miguel O. Aboitiz, executive vice-president and chief operating officer of the corporate business group of Aboitiz Power Corp.; and Camille A. Villar, managing director of Vista Land & Lifescapes, Inc.\nMr. Policarpio\u2019s talk revolved around two trends he described as \u201cbig\u201d and \u201cdestructive.\u201d The first of which is the virtual company model. \u201cAt this point we should ask this question, \u2018Why should we even need to go to an office… when we can work anywhere?\u2019\u201d\nHe cited the technology firm Automattic, which owns the content management system WordPress, as a company that has gone virtual. Its employees, who are located in a number of countries worldwide, largely work from home.\n\u201cWhy should you embrace the virtual company model? Think about it, you have the capability to tap a talent pool of 50 million people anywhere in the world via the freelance marketplaces… You reduce your office costs, increase worker satisfaction, reduce traffic,\u201d Mr. Policarpio said.\nCoinciding with the emergence of the virtual companies is the rise of the freelancers and the freelance Web sites. The development, Mr. Policarpio said, is \u201cmostly driven by the millennial work force who prefers flexibility and control over the way they want to work.\u201d And Filipinos are increasingly getting in on freelancing. One freelance marketplace, Mr. Policarpio said, has over a million Filipino members.\nThe second trend is the sharing economy, and it has given rise to a whole new kind of company, a marketplace company that does not need a lot of physical assets to create real value, Mr. Policarpio said. \u201cThere are consumers or people who need services on one side, and you have people, not companies, who can provide those services on the other side. The marketplace business… creates a platform that enables those two to find each other,\u201d he explained.\nFor navigating these trends, Mr. Policarpio said, \u201cCEOs need to be students all over again.\u201d He also suggested building a culture of learning into an organization since the millennials are \u201chungry for learning.\u201d\nAutomation is also changing the workplace. Mr. Aboitiz had a personal encounter with one type of it, called semi-intelligent automation.\n\u201cThe last time I was [in the United States], I was shocked because I had a problem with my cell phone. So I had called a call center. No person answered my call. It was a computer that answered the call. It conversed with me. It answered back. I didn\u2019t type any numbers on my phone. I just said the numbers, numbers of my credit card… any details it wanted,\u201d Mr. Aboitiz said. \u201cOnly when I asked questions that were unusual was I passed on to a real person.\u201d\nIn boardroom decision-making discussions, Mr. Aboitiz believes that some of the questions that are going to be asked are: \u201cHow do we change?\u201d \u201cHow do we automate?\u201d \u201cWhat do we use to automate?\u201d \u201cHow do we transition from where we are to automation?\u201d \u201cDo we take big leaps or small strides?\u201d\nMillennials are finding themselves answering these type of questions \u2014 and other important management questions \u2014 as they rise through the ranks into ever more senior positions.\nBut these individuals are often misunderstood. \u201cThe problem, it seems, is that we tend to overly generalize traits that we attribute to them,\u201d Ms. Villar said. \u201cGeneralizations, while useful, must be employed with caution because they tend to overlook the uniqueness and complexities of all of us. Profiling a generation, be it baby boomers, the Gen X, or the millennials, should inform but not shape our thinking.\u201d\n\u201cWith a generation of socially motivated, consumption-crazy but creatively innovative individuals starting to take over the work force, it is imperative that we acquire deeper understanding of their strengths and weaknesses in order to make informed strategic decisions,\u201d she added.\nMs. Villar shared a few things she had learned about her generation that members of other generations may want to take note of. One is that they are outspoken but respectful of hierarchy and wisdom of experience. \u201cThe best millennial leaders I\u2019ve met both in and outside Vista Land have found a good balance between their passion for new ideas and pushing boundaries and… recognizing the value of knowledge established by time, tradition and mentors.\u201d\nThey are \u201cflexible, independent, collaborative and innovative.\u201d Ms. Villar said this combination of characteristics allows them to thrive in an environment of constant innovation through collaboration. \u201cThus it becomes more important to mentor this generation in order to provide guidance and essential feedback mechanisms for self-correction and self-improvement.\u201d\nMillennials are also \u201cinfinite learners,\u201d Ms. Villar said. \u201cCombining the easier access to data with the drive to learn more, millennial leaders have the potential to bring human society to heights unforeseen if given the right opportunity and proper understanding,\u201d she said.", "date_published": "2018-05-31T09:15:12+08:00", "date_modified": "2018-05-31T09:15:12+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "BWEconomicforum", "Disruption", "Events" ] }, { "id": "http://www.bworldonline.com/?p=162022", "url": "/disruption/2018/05/31/162022/businessworld-economic-forum-2018-tackles-realities-of-disruption/", "title": "大象传媒 Economic Forum 2018 tackles realities of disruption", "content_html": "\nLast May 18, 大象传媒, the most read and most respected business newspaper in the Philippines, triumphantly staged the third edition of its annual 大象传媒 Economic Forum in the Grand Ballroom of Grand Hyatt Manila, in Bonifacio Global City, Taguig City.
\nThe forum, which has become one of the leading live platforms for discussing the key challenges and opportunities for the nation since its inception in 2016, brought together over 500 people from the private and public sectors. Titled \u201cDisruptor or Disrupted? The Philippines at the Crossroads,\u201d it delved into the forces and realities of disruption and their effects on industries and the country.
\nThe keynote speech was delivered by Dennis A. Uy, one of the most exciting personalities in the Philippine business scene today. He is the founder, chairman and chief executive officer of Udenna Corp., a holding company which has interests in a wide variety of industries, including petroleum retail and distribution (Phoenix Petroleum Philippines, Inc.) and shipping and logistics (Chelsea Logistics Holdings Corp.)
\n\u201cIf I have learned anything in life, it is this: Change \u2014 which we millennials call disruption \u2014 is constant. If you cannot adapt, you will be left behind,\u201d Mr. Uy said.
\nChange, he pointed out, is usually a positive thing for what he called \u201cbusiness insurgents,\u201d or those that rebel against the incumbents and think that there are better ways to do business, especially with technology. The same can\u2019t be said for the incumbents, also known as the established businesses, because they refuse to see the changes in the landscape and consumer preference, so they get left behind, Mr. Uy said.
\n\u201cChange is coming, and we have no choice but to embrace it. If we do not evolve, we become extinct. We will be the products of yesterday, instead of being the brands of the future.\u201d
\nMr. Uy\u2019s speech was succeeded by a series of talks by some of the esteemed personalities in their respective industries. The session devoted to big data and Philippine competitiveness was opened by Ret. Gen. Eliseo M. Rio, Jr., acting secretary of the Department of Information and Communications Technology. He pointed out that all aspects of human life are now controlled by information and that information is the new oil.
\nKristine Romano, managing director of McKinsey & Company in the Philippines, helped debunk and prove some myths about digital. It is not true that digital is creating value across sectors, that only digital natives can successfully disrupt, and that strategy no longer matters in digital. It is true, however, that digital is a \u201cwinner takes all\u201d game, that disruptors have the first-mover advantage, and that culture change is critical.
\nIn her talk, Erika Fille T. Legara, professor at the Asian Institute of Management, noted that for the Philippines to remain globally competitive, it has to disrupt itself. For the country to adapt to disruption, there\u2019s a need to spark the interest of various stakeholders and to collaborate with each other.
\nIn the following session, which revolved around artificial intelligence, e-commerce and cashless transactions, Pia Bernadette Roman-Tayag, managing director of the Inclusive Finance Advocacy Office at Bangko Sentral ng Pilipinas, reminded the audience that many parts of the country remain unbanked; in fact, as much as 34% of Philippine cities and municipalities have never seen a bank.
\nEdwin R. Bautista, president and CEO of Union Bank of the Philippines, said that banks today have two options with the entry of fintech or financial technology: disrupt themselves or perish. UnionBank is already mining bitcoin, he said, adding that blockchain is the future.
\nMeanwhile, as companies leverage on artificial intelligence (AI), they gain more information about their customers, particularly their pain points, according to Lito Tayag, country managing director of Accenture, Inc. (Philippines). But he advised companies to raise their AI systems to be more productive as the capabilities and impact of these systems grow.
\nAn important ingredient for engaging customers in the age of disruption for Walt Steven Young, founder and CEO of Adobomall, is authenticity, which a story that\u2019s unique to a brand can enhance. But Adobomall is also taking advantage of available technology as Mr. Young shared that they are in the process of patenting a shopping experience powered by augmented reality.
\nOpening the third session, which focused on finding opportunities in the age of disruption, Orlando B. Vea, president and CEO of Voyager Innovations, told the audience \u201ca fact of life:\u201d today\u2019s disruption is tomorrow\u2019s business as usual. But he noted that to lead in the age of disruption, one must think in terms of platform.
\nGCash, a micropayment service of Mynt (Globe Fintech Innovations, Inc.), is one example. Mynt\u2019s CEO, Anthony Thomas, said that now, one can even purchase load credits and pay bills on Facebook Messenger through GCash.
\nBrian Cu, country head of Grab Philippines, said that disruptors shouldn\u2019t forget about their roots. He also shared things his company had learned about disruption: remaining agile, collaborating with stakeholders, focusing on growth without forgetting the basics and innovating.
\nFor Miguel Cuneta, co-founder and chief community officer of Satoshi Citadel Industries, companies like Grab are doing an important thing in the age of disruption \u2014 creating useful services. But he doesn\u2019t believe that there is a real age of disruption since disruption is a constant process in which the market chooses what\u2019s beneficial to itself.
\nIn the fourth and final session, which revolved around the workplace and disruption, Arthur R. Policarpio, co-founder and CEO of Mobext Philippines, said marketplace companies, like\u00a0 freelancing Web sites, will continue to thrive as the sharing economy grows. And leaders in this day and age, he noted, must be students all over again, be business model engineers and be architects of company vision in the digital world at the same time.
\nLuis Miguel O. Aboitiz, executive vice-president and chief operating officer of the Corporate Business Group of Aboitiz Power Corp., noted that since things are changing fast and technologies are getting better, businesses should expect a reorganization every two years.
\nThe workplace is already changing with the entry of more and more millennials. But according to Camille A. Villar, managing director of Vista Land & Lifescapes, Inc., people tend to overly generalize traits attributed to them. Profiling a generation, she said, should inform but not shape one\u2019s thinking. She recommended seeking millennials who have high levels of emotional intelligence and not necessarily high grades, to create a culture of mutual trust and respect in the workplace.
\nThe 大象传媒 Economic Forum 2018 was presented by 大象传媒 Corp., with co-presentors LT Group, Inc., GT Capital Holdings, Inc., and SM Investments Corp.; platinum sponsors PLDT and Manila Electric Company; gold sponsors Ayala Corp., BDO Unibank, Inc., Megaworld Corp., Phoenix Petroleum, Udenna Corp., and UnionBank; silver sponsors Aboitiz Power Corp., Asian Institute of Management, FWD Philippines, Metro Pacific Investments Corp., Mundo Builders, San Miguel Corp., and St. Luke\u2019s Medical Center; bronze sponsors Development Bank of the Philippines, Land Bank of the Philippines, Mastercard, National Home Mortgage Finance Corp., Philippine Amusement and Gaming Corp., Sun Life Financial Philippines, Voyager Innovations, Wilcon Depot, Inc., and Cross; media partners The Philippine Star, PhilStar Global, and One News; and event partners Fiera de Manila and ESET.
\n", "content_text": "Last May 18, 大象传媒, the most read and most respected business newspaper in the Philippines, triumphantly staged the third edition of its annual 大象传媒 Economic Forum in the Grand Ballroom of Grand Hyatt Manila, in Bonifacio Global City, Taguig City.\nThe forum, which has become one of the leading live platforms for discussing the key challenges and opportunities for the nation since its inception in 2016, brought together over 500 people from the private and public sectors. Titled \u201cDisruptor or Disrupted? The Philippines at the Crossroads,\u201d it delved into the forces and realities of disruption and their effects on industries and the country.\nThe keynote speech was delivered by Dennis A. Uy, one of the most exciting personalities in the Philippine business scene today. He is the founder, chairman and chief executive officer of Udenna Corp., a holding company which has interests in a wide variety of industries, including petroleum retail and distribution (Phoenix Petroleum Philippines, Inc.) and shipping and logistics (Chelsea Logistics Holdings Corp.)\n\u201cIf I have learned anything in life, it is this: Change \u2014 which we millennials call disruption \u2014 is constant. If you cannot adapt, you will be left behind,\u201d Mr. Uy said.\nChange, he pointed out, is usually a positive thing for what he called \u201cbusiness insurgents,\u201d or those that rebel against the incumbents and think that there are better ways to do business, especially with technology. The same can\u2019t be said for the incumbents, also known as the established businesses, because they refuse to see the changes in the landscape and consumer preference, so they get left behind, Mr. Uy said.\n\u201cChange is coming, and we have no choice but to embrace it. If we do not evolve, we become extinct. We will be the products of yesterday, instead of being the brands of the future.\u201d\nMr. Uy\u2019s speech was succeeded by a series of talks by some of the esteemed personalities in their respective industries. The session devoted to big data and Philippine competitiveness was opened by Ret. Gen. Eliseo M. Rio, Jr., acting secretary of the Department of Information and Communications Technology. He pointed out that all aspects of human life are now controlled by information and that information is the new oil.\nKristine Romano, managing director of McKinsey & Company in the Philippines, helped debunk and prove some myths about digital. It is not true that digital is creating value across sectors, that only digital natives can successfully disrupt, and that strategy no longer matters in digital. It is true, however, that digital is a \u201cwinner takes all\u201d game, that disruptors have the first-mover advantage, and that culture change is critical.\nIn her talk, Erika Fille T. Legara, professor at the Asian Institute of Management, noted that for the Philippines to remain globally competitive, it has to disrupt itself. For the country to adapt to disruption, there\u2019s a need to spark the interest of various stakeholders and to collaborate with each other.\nIn the following session, which revolved around artificial intelligence, e-commerce and cashless transactions, Pia Bernadette Roman-Tayag, managing director of the Inclusive Finance Advocacy Office at Bangko Sentral ng Pilipinas, reminded the audience that many parts of the country remain unbanked; in fact, as much as 34% of Philippine cities and municipalities have never seen a bank.\nEdwin R. Bautista, president and CEO of Union Bank of the Philippines, said that banks today have two options with the entry of fintech or financial technology: disrupt themselves or perish. UnionBank is already mining bitcoin, he said, adding that blockchain is the future.\nMeanwhile, as companies leverage on artificial intelligence (AI), they gain more information about their customers, particularly their pain points, according to Lito Tayag, country managing director of Accenture, Inc. (Philippines). But he advised companies to raise their AI systems to be more productive as the capabilities and impact of these systems grow.\nAn important ingredient for engaging customers in the age of disruption for Walt Steven Young, founder and CEO of Adobomall, is authenticity, which a story that\u2019s unique to a brand can enhance. But Adobomall is also taking advantage of available technology as Mr. Young shared that they are in the process of patenting a shopping experience powered by augmented reality.\nOpening the third session, which focused on finding opportunities in the age of disruption, Orlando B. Vea, president and CEO of Voyager Innovations, told the audience \u201ca fact of life:\u201d today\u2019s disruption is tomorrow\u2019s business as usual. But he noted that to lead in the age of disruption, one must think in terms of platform.\nGCash, a micropayment service of Mynt (Globe Fintech Innovations, Inc.), is one example. Mynt\u2019s CEO, Anthony Thomas, said that now, one can even purchase load credits and pay bills on Facebook Messenger through GCash.\nBrian Cu, country head of Grab Philippines, said that disruptors shouldn\u2019t forget about their roots. He also shared things his company had learned about disruption: remaining agile, collaborating with stakeholders, focusing on growth without forgetting the basics and innovating.\nFor Miguel Cuneta, co-founder and chief community officer of Satoshi Citadel Industries, companies like Grab are doing an important thing in the age of disruption \u2014 creating useful services. But he doesn\u2019t believe that there is a real age of disruption since disruption is a constant process in which the market chooses what\u2019s beneficial to itself.\nIn the fourth and final session, which revolved around the workplace and disruption, Arthur R. Policarpio, co-founder and CEO of Mobext Philippines, said marketplace companies, like\u00a0 freelancing Web sites, will continue to thrive as the sharing economy grows. And leaders in this day and age, he noted, must be students all over again, be business model engineers and be architects of company vision in the digital world at the same time.\nLuis Miguel O. Aboitiz, executive vice-president and chief operating officer of the Corporate Business Group of Aboitiz Power Corp., noted that since things are changing fast and technologies are getting better, businesses should expect a reorganization every two years.\nThe workplace is already changing with the entry of more and more millennials. But according to Camille A. Villar, managing director of Vista Land & Lifescapes, Inc., people tend to overly generalize traits attributed to them. Profiling a generation, she said, should inform but not shape one\u2019s thinking. She recommended seeking millennials who have high levels of emotional intelligence and not necessarily high grades, to create a culture of mutual trust and respect in the workplace.\nThe 大象传媒 Economic Forum 2018 was presented by 大象传媒 Corp., with co-presentors LT Group, Inc., GT Capital Holdings, Inc., and SM Investments Corp.; platinum sponsors PLDT and Manila Electric Company; gold sponsors Ayala Corp., BDO Unibank, Inc., Megaworld Corp., Phoenix Petroleum, Udenna Corp., and UnionBank; silver sponsors Aboitiz Power Corp., Asian Institute of Management, FWD Philippines, Metro Pacific Investments Corp., Mundo Builders, San Miguel Corp., and St. Luke\u2019s Medical Center; bronze sponsors Development Bank of the Philippines, Land Bank of the Philippines, Mastercard, National Home Mortgage Finance Corp., Philippine Amusement and Gaming Corp., Sun Life Financial Philippines, Voyager Innovations, Wilcon Depot, Inc., and Cross; media partners The Philippine Star, PhilStar Global, and One News; and event partners Fiera de Manila and ESET.", "date_published": "2018-05-31T09:10:57+08:00", "date_modified": "2018-05-31T09:10:57+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Artificial intelligence", "Bangko Sentral ng Pilipinas", "basics", "bitcoin", "blockchain", "大象传媒", "cashless transactions", "change", "dennis uy", "digital", "disrupted", "Disruption", "disruptor", "e-commerce", "Economic Forum", "emotional intelligence", "fintech", "Grand Hyatt Manila", "Millennials", "platform", "reorganization", "services", "technology", "Udenna Corp.", "BWEconomicforum", "Events" ] }, { "id": "http://www.bworldonline.com/?p=162181", "url": "/disruption/2018/05/31/162181/big-data-a-good-or-bad-omen-for-philippine-business/", "title": "Big data, a good or bad omen for Philippine business?", "content_html": "\nBy Bjorn Biel M. Beltran,\u00a0Special Features Writer
\nThe fourth industrial revolution is heralding a world of rapidly transforming business landscapes. Across all industries, from media to manufacturing, a technological arms race is threatening to change the world as we know it. Innovation is at the forefront of this global transformation, and business models, policy environments, and even social norms are facing disruption at the hands of new technologies like the Internet of Things (IoT), big data analytics, cloud computing, and artificial intelligence.
\n\u201cThe First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production,\u201d Klaus Schwab, founder and executive chairman of World Economic Forum Geneva, explained.
\n\u201cNow a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres,\u201d he added.
\nUnderstanding just how such an all-engulfing phenomenon is affecting and will affect Philippine competitiveness in the future is a challenge in itself.
\nAt the 大象传媒 Economic Forum, held at the Grand Hyatt Manila in Taguig City on May 18, Erika Fille T. Legara, a professor at the Asian Institute of Management\u2019s Department of Analytics, Information & Operations, recounted how a Filipino entrepreneur asked her about how the Philippines can hope to catch up to the fourth industrial revolution, when the country is barely positioned for the third.
\n\u201cHe said, \u2018Why are we talking about the fourth industrial revolution? The Philippines is still in Industry 2.0. We haven\u2019t even positioned yet to three, and now you\u2019re talking about four\u2019,\u201d she shared.
\n\u201cBut then again, the future is not very evenly distributed. Whether we\u2019re moving from three to four, or two to three, or taking a leap from two to four, it is important that we are all aware of what is happening around us. And how these developments can potentially affect our businesses, our people, our society,\u201d she added.
\nThe Internet of Things, she explained, held the potential to change the world much like the Internet did during the turn of the millennium. The technology is based around the concept of connecting any device to the Internet and to each other. Through the IoT, devices ranging from smartphones and smartwatches, to appliances like coffee makers, washing machines, and even machinery like jet engines can freely collect and exchange data, as well as communicate with one another.
\n\u201cWhat does this mean for businesses? Take a look at Boeing. A Boeing 77 has two engines. Each of its engines produces 20 terabytes of data per hour. So if you\u2019re flying from New York to LA, that takes about six hours. That\u2019s 240 terabytes of data. That\u2019s a lot of big data,\u201d she said, noting that the sensors inside the engines are communicating to each other, monitoring vital flight conditions like temperature, humidity, and pressure throughout the trip.
\nUsing this abundance of data, machine-learning software and artificial intelligence could then be used to interpret and obtain meaningful insights for businesses. Sectors with a heavy dependence on machinery and robotics like manufacturing could stand to gain huge competitive advantages, given the right capabilities.
\nEven sectors not conventionally perceived as technologically independent, such as farming, are not immune to the disruption such technologies present.
\n\u201cWe can now deploy sensors to our soil, to our water management system. We can fly drones to monitor our fields and distribute seeds and fertilizers,\u201d Ms. Legara said.
\n\u201cAbove all these, these sensors can also collect data, send this data up to the cloud, perform some machine-learning models and do different levels of analytics, from descriptive to predictive all the way to prescriptive analytics. And then these results will go back to the stakeholders, including our farmers,\u201d she added.
\nHowever, is the Philippines equipped to facilitate the constant exchange of such vast quantities of data over its networks?
\nRet. Gen. Eliseo M. Rio, Jr., acting secretary at the Department of Information and Communications Technology, lamented the fact that compared to the country\u2019s neighbors in Southeast Asia, the Philippines has fallen behind in terms of its telecommunications services. The problem, he said, was due to a lack of government support.
\n\u201cUp till now, the government has not supported our ICT industry in the same manner as the other countries have. Up till now, all the infrastructure that are being rolled out in our telecommunication industry has all been private sector-funded,\u201d Mr. Rio said during his talk.
\nHe added that just privately funded roads tend to have tolls to recoup investments made by investors, the same could be said for privately funded telecommunications networks \u2014 that is, the burden falls to the consumer. And though the current administration has plans to address the lack of infrastructure, it remains, in his belief, the primary obstacle for businesses trying to mitigate the effects of disruption.
\n\u201cEverything now, all aspects of our lives, are controlled or even influenced by information,\u201d Mr. Rio said. \u201cInformation is the new oil, they say, but that oil has to be distributed by pipes. That pipe is what the government needs to use to support the telecommunication industry, so information can flow faster at less cost to most of the areas in our country.\u201d
\nThe bad news is that the longer the Philippines remains unequipped to handle the strain of technological advancement, the more difficult it will be for businesses to play catch-up with the rest of the world. The price for any business adapting too late in a fast-changing, disruptive environment could be death.
\n\u201cThere are clear winners and losers from disruptions. Everyone knows the saga of Netflix and Blockbuster,\u201d Kristine Romano, managing partner of the global management consulting firm McKinsey & Company in the Philippines, said.
\n\u201cBlockbuster used to be an eight-billion-dollar company in 2005 and only five years later filed for bankruptcy. It could not compete with the instant and low-cost digital delivery of Netflix. Similarly, you find the likes of Google whose market share has gone from 12% in 2001, to an estimated 90% today. Meanwhile, who still uses their Yahoo accounts?,\u201d she shared.
\nMs. Romano further said that by being the first mover, or at least being one of the top 25% of companies fastest to respond to disruption, companies can negate the projected revenue and profit losses for disrupted businesses, according to their research at McKinsey.
\n\u201cWe tracked the direction of the revenues of the most disrupted industries and we found that growth in disruptive industries can be reduced as much as 6 to 12 percentage points. Now, of course, the numbers vary by sector by player, but our research shows that digital enables competition that puts pressure on revenue and profit growth,\u201d she said, further noting that disruptors tend to have the competitive advantage when compared to disrupted businesses that fail to adapt.
\nTo ensure chances of success, the imperative to change and adapt should naturally come from the very top of the company ladder and work its way downward. Culture change is inevitable, and if industry executives play their cards right, they could see themselves becoming the digital leaders of the future.
\n\u201cYou don\u2019t need to be a digital native to win; a great strategy by itself can retrieve all of the revenue growth lost and contribute to further growth. Companies with a high DQ or digital quotient rely on internal collaborations, take bold risks, and experiment with new strategies,\u201d Ms. Romano said.
\n", "content_text": "By Bjorn Biel M. Beltran,\u00a0Special Features Writer\nThe fourth industrial revolution is heralding a world of rapidly transforming business landscapes. Across all industries, from media to manufacturing, a technological arms race is threatening to change the world as we know it. Innovation is at the forefront of this global transformation, and business models, policy environments, and even social norms are facing disruption at the hands of new technologies like the Internet of Things (IoT), big data analytics, cloud computing, and artificial intelligence.\n\u201cThe First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production,\u201d Klaus Schwab, founder and executive chairman of World Economic Forum Geneva, explained.\n\u201cNow a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres,\u201d he added.\nUnderstanding just how such an all-engulfing phenomenon is affecting and will affect Philippine competitiveness in the future is a challenge in itself.\nAt the 大象传媒 Economic Forum, held at the Grand Hyatt Manila in Taguig City on May 18, Erika Fille T. Legara, a professor at the Asian Institute of Management\u2019s Department of Analytics, Information & Operations, recounted how a Filipino entrepreneur asked her about how the Philippines can hope to catch up to the fourth industrial revolution, when the country is barely positioned for the third.\n\u201cHe said, \u2018Why are we talking about the fourth industrial revolution? The Philippines is still in Industry 2.0. We haven\u2019t even positioned yet to three, and now you\u2019re talking about four\u2019,\u201d she shared.\n\u201cBut then again, the future is not very evenly distributed. Whether we\u2019re moving from three to four, or two to three, or taking a leap from two to four, it is important that we are all aware of what is happening around us. And how these developments can potentially affect our businesses, our people, our society,\u201d she added.\nThe Internet of Things, she explained, held the potential to change the world much like the Internet did during the turn of the millennium. The technology is based around the concept of connecting any device to the Internet and to each other. Through the IoT, devices ranging from smartphones and smartwatches, to appliances like coffee makers, washing machines, and even machinery like jet engines can freely collect and exchange data, as well as communicate with one another.\n\u201cWhat does this mean for businesses? Take a look at Boeing. A Boeing 77 has two engines. Each of its engines produces 20 terabytes of data per hour. So if you\u2019re flying from New York to LA, that takes about six hours. That\u2019s 240 terabytes of data. That\u2019s a lot of big data,\u201d she said, noting that the sensors inside the engines are communicating to each other, monitoring vital flight conditions like temperature, humidity, and pressure throughout the trip.\nUsing this abundance of data, machine-learning software and artificial intelligence could then be used to interpret and obtain meaningful insights for businesses. Sectors with a heavy dependence on machinery and robotics like manufacturing could stand to gain huge competitive advantages, given the right capabilities.\nEven sectors not conventionally perceived as technologically independent, such as farming, are not immune to the disruption such technologies present.\n\u201cWe can now deploy sensors to our soil, to our water management system. We can fly drones to monitor our fields and distribute seeds and fertilizers,\u201d Ms. Legara said.\n\u201cAbove all these, these sensors can also collect data, send this data up to the cloud, perform some machine-learning models and do different levels of analytics, from descriptive to predictive all the way to prescriptive analytics. And then these results will go back to the stakeholders, including our farmers,\u201d she added.\nHowever, is the Philippines equipped to facilitate the constant exchange of such vast quantities of data over its networks?\nRet. Gen. Eliseo M. Rio, Jr., acting secretary at the Department of Information and Communications Technology, lamented the fact that compared to the country\u2019s neighbors in Southeast Asia, the Philippines has fallen behind in terms of its telecommunications services. The problem, he said, was due to a lack of government support.\n\u201cUp till now, the government has not supported our ICT industry in the same manner as the other countries have. Up till now, all the infrastructure that are being rolled out in our telecommunication industry has all been private sector-funded,\u201d Mr. Rio said during his talk.\nHe added that just privately funded roads tend to have tolls to recoup investments made by investors, the same could be said for privately funded telecommunications networks \u2014 that is, the burden falls to the consumer. And though the current administration has plans to address the lack of infrastructure, it remains, in his belief, the primary obstacle for businesses trying to mitigate the effects of disruption.\n\u201cEverything now, all aspects of our lives, are controlled or even influenced by information,\u201d Mr. Rio said. \u201cInformation is the new oil, they say, but that oil has to be distributed by pipes. That pipe is what the government needs to use to support the telecommunication industry, so information can flow faster at less cost to most of the areas in our country.\u201d\nThe bad news is that the longer the Philippines remains unequipped to handle the strain of technological advancement, the more difficult it will be for businesses to play catch-up with the rest of the world. The price for any business adapting too late in a fast-changing, disruptive environment could be death.\n\u201cThere are clear winners and losers from disruptions. Everyone knows the saga of Netflix and Blockbuster,\u201d Kristine Romano, managing partner of the global management consulting firm McKinsey & Company in the Philippines, said.\n\u201cBlockbuster used to be an eight-billion-dollar company in 2005 and only five years later filed for bankruptcy. It could not compete with the instant and low-cost digital delivery of Netflix. Similarly, you find the likes of Google whose market share has gone from 12% in 2001, to an estimated 90% today. Meanwhile, who still uses their Yahoo accounts?,\u201d she shared.\nMs. Romano further said that by being the first mover, or at least being one of the top 25% of companies fastest to respond to disruption, companies can negate the projected revenue and profit losses for disrupted businesses, according to their research at McKinsey.\n\u201cWe tracked the direction of the revenues of the most disrupted industries and we found that growth in disruptive industries can be reduced as much as 6 to 12 percentage points. Now, of course, the numbers vary by sector by player, but our research shows that digital enables competition that puts pressure on revenue and profit growth,\u201d she said, further noting that disruptors tend to have the competitive advantage when compared to disrupted businesses that fail to adapt.\nTo ensure chances of success, the imperative to change and adapt should naturally come from the very top of the company ladder and work its way downward. Culture change is inevitable, and if industry executives play their cards right, they could see themselves becoming the digital leaders of the future.\n\u201cYou don\u2019t need to be a digital native to win; a great strategy by itself can retrieve all of the revenue growth lost and contribute to further growth. Companies with a high DQ or digital quotient rely on internal collaborations, take bold risks, and experiment with new strategies,\u201d Ms. Romano said.", "date_published": "2018-05-31T09:05:16+08:00", "date_modified": "2018-05-31T09:05:16+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Artificial intelligence", "ASIAN Institute of Management", "big data analytics", "Bjorn Biel Beltran", "大象传媒", "cloud computing", "Department of Information and Communications Technology", "Disruption", "Economic Forum", "Erika Fille Legara", "ICT", "information", "innovation", "IoT", "Kristine Romano", "McKinsey & Company", "Ret. Gen. Eliseo M. Rio Jr.", "sensors", "BWEconomicforum", "Events" ] }, { "id": "http://www.bworldonline.com/?p=162359", "url": "/disruption/2018/05/31/162359/the-customer-centric-story-of-disruption/", "title": "The customer-centric story of disruption", "content_html": "\nBy Mark Louis F. Ferrolino,\u00a0Special Features Writer
\nIn a trajectory of rapid improvements, buoyed by disruptive technologies, consumers are becoming more demanding and discriminating. Emerging technologies provide companies a multitude platform to unleash new level of customer relationship and re-examine their purpose in an increasingly competitive market. Although disruption opens new opportunities for both start-ups and the incumbents, it remains less attractive to some industry players who need to adapt new business model to stay ahead of the digital curve.
\nInnovations, particularly in banking, retail and services sectors, have transformed monetary transactions into an immersive financial experience that goes beyond the traditional processes. The emergence of Artificial Intelligence (AI), E-Commerce and cashless transactions brings consumers more secure, faster and more convenient transaction options.
\nDuring the recent 大象传媒 Economic Forum held at Grand Hyatt Manila in Taguig City on May 18, Bangko Sentral ng Pilipinas (BSP) Managing Director of Inclusive Finance Advocacy Office and Concurrent Head of Financial Consumer Protection Pia Bernadette Roman-Tayag explained how disruptions in financial system can help achieve financial inclusion by reaching the unbanked and by eradicating misconceptions on the services that banks offer.
\n\u201cDisruptions are able to improve services for currently served population,\u201d Ms. Roman-Tayag said. \u201cBut it is transformational in the effect that it can have for the unserved or never served before, and that is where the opportunity lies.\u201d
\nMs. Roman-Tayag shared that 554 out of 1,634 or 34% of cities and municipalities in the country do not have a banking office. Also, citing the BSP Financial Inclusion Survey in 2015, she shared that 47% of Filipino adults have outstanding loans, and 72% of them borrow from informal sources.
\nThese people are paying high prices from informal lenders for thinking that financial services from banks are expensive, in addition to the fact that some of them don\u2019t have enough funds to open an account or don\u2019t have the necessary documentation required by these institutions.
\n\u201cThat\u2019s exactly right for disruption. That\u2019s exactly what technology can bring to these misconceptions or perceptions or realities of the unbanked,\u201d Ms. Roman-Tayag said. \u201cTechnology is there, the demographic is just waiting for all this new technology to come in, for disruptors to come in. The currently served market is still your market to improve products, but then, the game will be on the transformation, will be on the unserved market.\u201d
\nWhile disruption provides banks the opportunity to position themselves in reaching the untapped market, they are also facing challenges to stay competitive \u2014 still brought by disruption. New technologies and alternative payment methods are ramping fast, pushing financial technology (fintech) companies to gain momentum while leaving traditional banks behind.
\nAccording to Edwin R. Bautista, president and chief executive officer (CEO) of Union Bank of the Philippines (UnionBank), banks in the age of disruption have only two choices: digitize or perish.
\nMr. Bautista shared that as fintechs gain a strong foothold in the industry, there\u2019s an implication for banks, like UnionBank, to later lose their market share.
\n\u201cAfter thinking of these, our board told the management: \u2018Is it time to just sell the bank?\u2019 How should a bank or how could a bank respond? At UnionBank, our answer after a long soul search was we fight fire with fire, technology with technology,\u201d Mr. Bautista said, noting that fintechs do not have a monopoly of technology and there is no reason for banks to use the same technology.
\nIn response, UnionBank arrived at a plan to transforming the bank into a bank that is digital to the core; it started its digital transformation journey to avoid being disrupted.
\nWhile heading its way to join industry disruptors, Mr. Bautista said that they run into two realizations: one, banks can play the role of a disruptor too; and two, the best way to avoid disruption is to disrupt oneself. \u201cThis way, we can at least fear ourselves to a more desirable outcome,\u201d he said.
\nThe BSP, playing its mission to promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system in the country, is creating the enabling policies and regulatory environment so banks can use financial technologies, can become fintechs themselves, can disrupt themselves or be at equal footing as other disruptors in the industry.
\nMs. Roman-Tayag said that BSP is leveling up the playing field in terms of other fintechs that need to be licensed with the BSP such as e-money issuers and virtual currency exchanges. \u201cWith this, we get to create an ecosystem where we can develop trust and certainty in the market which is what the people are really looking for,\u201d Ms. Roman-Tayag added.
\nTo keep customers engage in this age of disruption, Adobomall Founder and CEO Walt Steven Young identified three points: to tell stories that create authenticity, to continuously create more innovations, and to constantly measure results.
\nMr. Young said that in this age, everybody has the capabilities of creating technology. \u201cAt the end of the day, your customers will see a lot of technologies in front of them. What sets you apart is because you have a story that you are grounding your ideas to,\u201d he said, adding that having a unique story would help companies create connection that generates customer engagement.
\nFurthermore, technology and innovation create new experiences, thus measuring its impact or results would help companies judge what seems to be effective that might be changed in the next days.
\n\u201cYou may be disrupting now, but maybe in a few months, in a few weeks, you\u2019re no longer a disruptor, you\u2019re a traditional business,\u201d Mr. Young said. \u201cNever stop innovating. It is the name of the game now.\u201d
\nAs observed, all disruption-led changes focus on customer centricity and personalization of customers\u2019 experience. And as companies are making their transition into the disruptive marketplace, some of them are now leveraging on AIs and technologies that help them gain more intelligence about their customers. This, according to Accenture, Inc. (Philippines) Country Managing Director Lito Tayag,\u00a0allows companies to identify customers\u2019 pain points and predict their preferences.
\nOne technology trend that is growing its reach in today\u2019s landscape is called citizen AI. Mr. Tayag said that as AI grows in capabilities and its impact on people\u2019s lives, businesses must raise their AI to act as responsible productive members of society.
\n\u201cWith these opportunities, we see a new era unfolding. The era of applied intelligence, the era of breakthrough collaborations between humans and machines as it ushers the revolution that is the intelligent enterprise. In this new synergy, it is expected that Artificial Intelligence shall become integral in enabling people to scale up productivity and ultimately bring more and further innovations to business and society,\u201d Mr. Tayag said.
\nAnd as the country prepares for the impact of AI and other advanced technologies to benefit the society, Mr. Tayag said that it should result in inclusion for the country, including financial inclusion of the unbanked, access to payments, access to lending, and access to investment.
\n", "content_text": "By Mark Louis F. Ferrolino,\u00a0Special Features Writer\nIn a trajectory of rapid improvements, buoyed by disruptive technologies, consumers are becoming more demanding and discriminating. Emerging technologies provide companies a multitude platform to unleash new level of customer relationship and re-examine their purpose in an increasingly competitive market. Although disruption opens new opportunities for both start-ups and the incumbents, it remains less attractive to some industry players who need to adapt new business model to stay ahead of the digital curve.\nInnovations, particularly in banking, retail and services sectors, have transformed monetary transactions into an immersive financial experience that goes beyond the traditional processes. The emergence of Artificial Intelligence (AI), E-Commerce and cashless transactions brings consumers more secure, faster and more convenient transaction options.\nDuring the recent 大象传媒 Economic Forum held at Grand Hyatt Manila in Taguig City on May 18, Bangko Sentral ng Pilipinas (BSP) Managing Director of Inclusive Finance Advocacy Office and Concurrent Head of Financial Consumer Protection Pia Bernadette Roman-Tayag explained how disruptions in financial system can help achieve financial inclusion by reaching the unbanked and by eradicating misconceptions on the services that banks offer.\n\u201cDisruptions are able to improve services for currently served population,\u201d Ms. Roman-Tayag said. \u201cBut it is transformational in the effect that it can have for the unserved or never served before, and that is where the opportunity lies.\u201d\nMs. Roman-Tayag shared that 554 out of 1,634 or 34% of cities and municipalities in the country do not have a banking office. Also, citing the BSP Financial Inclusion Survey in 2015, she shared that 47% of Filipino adults have outstanding loans, and 72% of them borrow from informal sources.\nThese people are paying high prices from informal lenders for thinking that financial services from banks are expensive, in addition to the fact that some of them don\u2019t have enough funds to open an account or don\u2019t have the necessary documentation required by these institutions.\n\u201cThat\u2019s exactly right for disruption. That\u2019s exactly what technology can bring to these misconceptions or perceptions or realities of the unbanked,\u201d Ms. Roman-Tayag said. \u201cTechnology is there, the demographic is just waiting for all this new technology to come in, for disruptors to come in. The currently served market is still your market to improve products, but then, the game will be on the transformation, will be on the unserved market.\u201d\nWhile disruption provides banks the opportunity to position themselves in reaching the untapped market, they are also facing challenges to stay competitive \u2014 still brought by disruption. New technologies and alternative payment methods are ramping fast, pushing financial technology (fintech) companies to gain momentum while leaving traditional banks behind.\nAccording to Edwin R. Bautista, president and chief executive officer (CEO) of Union Bank of the Philippines (UnionBank), banks in the age of disruption have only two choices: digitize or perish.\nMr. Bautista shared that as fintechs gain a strong foothold in the industry, there\u2019s an implication for banks, like UnionBank, to later lose their market share.\n\u201cAfter thinking of these, our board told the management: \u2018Is it time to just sell the bank?\u2019 How should a bank or how could a bank respond? At UnionBank, our answer after a long soul search was we fight fire with fire, technology with technology,\u201d Mr. Bautista said, noting that fintechs do not have a monopoly of technology and there is no reason for banks to use the same technology.\nIn response, UnionBank arrived at a plan to transforming the bank into a bank that is digital to the core; it started its digital transformation journey to avoid being disrupted.\nWhile heading its way to join industry disruptors, Mr. Bautista said that they run into two realizations: one, banks can play the role of a disruptor too; and two, the best way to avoid disruption is to disrupt oneself. \u201cThis way, we can at least fear ourselves to a more desirable outcome,\u201d he said.\nThe BSP, playing its mission to promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system in the country, is creating the enabling policies and regulatory environment so banks can use financial technologies, can become fintechs themselves, can disrupt themselves or be at equal footing as other disruptors in the industry.\nMs. Roman-Tayag said that BSP is leveling up the playing field in terms of other fintechs that need to be licensed with the BSP such as e-money issuers and virtual currency exchanges. \u201cWith this, we get to create an ecosystem where we can develop trust and certainty in the market which is what the people are really looking for,\u201d Ms. Roman-Tayag added.\nTo keep customers engage in this age of disruption, Adobomall Founder and CEO Walt Steven Young identified three points: to tell stories that create authenticity, to continuously create more innovations, and to constantly measure results.\nMr. Young said that in this age, everybody has the capabilities of creating technology. \u201cAt the end of the day, your customers will see a lot of technologies in front of them. What sets you apart is because you have a story that you are grounding your ideas to,\u201d he said, adding that having a unique story would help companies create connection that generates customer engagement.\nFurthermore, technology and innovation create new experiences, thus measuring its impact or results would help companies judge what seems to be effective that might be changed in the next days.\n\u201cYou may be disrupting now, but maybe in a few months, in a few weeks, you\u2019re no longer a disruptor, you\u2019re a traditional business,\u201d Mr. Young said. \u201cNever stop innovating. It is the name of the game now.\u201d\nAs observed, all disruption-led changes focus on customer centricity and personalization of customers\u2019 experience. And as companies are making their transition into the disruptive marketplace, some of them are now leveraging on AIs and technologies that help them gain more intelligence about their customers. This, according to Accenture, Inc. (Philippines) Country Managing Director Lito Tayag,\u00a0allows companies to identify customers\u2019 pain points and predict their preferences.\nOne technology trend that is growing its reach in today\u2019s landscape is called citizen AI. Mr. Tayag said that as AI grows in capabilities and its impact on people\u2019s lives, businesses must raise their AI to act as responsible productive members of society.\n\u201cWith these opportunities, we see a new era unfolding. The era of applied intelligence, the era of breakthrough collaborations between humans and machines as it ushers the revolution that is the intelligent enterprise. In this new synergy, it is expected that Artificial Intelligence shall become integral in enabling people to scale up productivity and ultimately bring more and further innovations to business and society,\u201d Mr. Tayag said.\nAnd as the country prepares for the impact of AI and other advanced technologies to benefit the society, Mr. Tayag said that it should result in inclusion for the country, including financial inclusion of the unbanked, access to payments, access to lending, and access to investment.", "date_published": "2018-05-31T09:00:51+08:00", "date_modified": "2018-05-31T09:00:51+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Accenture", "adobomall", "Artificial intelligence", "authenticity", "Bangko Sentral ng Pilipinas", "banks", "大象传媒", "cashless transactions", "Disruption", "e-commerce", "Economic Forum", "Edwin Bautista", "fintech", "innovations", "Lito Tayag", "Mark Louis Ferrolino", "Pia Bernadette Roman-Tayag", "technologies", "Union Bank of the Philippines", "Walt Steven Young", "BWEconomicforum", "Events" ] }, { "id": "http://www.bworldonline.com/?p=147135", "url": "/disruption/2016/07/27/147135/no-way-but-up-for-e-commerce/", "title": "No way but up for e-commerce", "content_html": "
By Melissa Luz T. Lopez, Reporter
\nIn this age of smartphones, everything is a tap or two away for anyone online.
\nAs a result, work and play have increasingly gone digital, helping boost demand for electronic money that can be easily sent and received using online payment settlement platforms.
\nAs more and more Filipinos equip themselves with Internet-enabled devices, online financial transactions can only go up.
\nThese transactions can be conducted anywhere \u2014 at home, cramped inside a public train, or sitting in the office; with a steady and stable Internet connection, shopping and payment for goods and services can be done at the tap of a finger or at a click of a mouse.
\nTo ensure that these online transactions \u2014 and its related processes \u2014 incur minimal snags, the Department of Trade and Industry (DTI) last February launched a Philippine e-Commerce Roadmap spanning five years to 2020, covering infrastructure, laws, additional investments, data privacy, consumer education, and regional integration.
\nBesides helping support small-scale businesses, it will allow more Filipinos to avail of financial services online.
\nThese moves are part of the government\u2019s grand plan to bring the electronic sector\u2019s contribution to 25% of gross domestic product (GDP) by 2020, coming from an estimated 10% share in 2015.
\nAlong with the advent of online merchants and service providers came the use of Bitcoin, a payment system that allows users to send and receive payments without an intermediary.
\nFirm betting big on digital currency
\nGrowing interest and demand for e-commerce and online exchange in the Philippines prompted Ron Hose, then a tech investor at the Silicon Valley, to come to the Philippines and set up Coins.ph, an online firm that serves as a platform for mobile payments.
\n\u201cPeople use digital currency here to accomplish things,\u201d Mr. Hose, co-founder and chief executive officer of Coins.ph, said in an interview last month. \u201cYou can directly use the services for people to send money home at lower costs and bypass that 7-8% (in service fees) to an average of 1-3%.\u201d
\n\u201cWe allow people to pay their bills using their mobile phone, top-up their phones, those kind of things.\u201d
\nCoins.ph is a downloadable app that serves as an e-wallet and mobile dock for multiple bank accounts, which can send and receive money across both members and non-registered users. Money is loaded on a user\u2019s account through partner brick-and-mortar merchants such as 7-Eleven convenience stores and pawnshop outlets, and may be sent and received across bank accounts, e-mail addresses, text messages, and Facebook profiles through the platform. The credit may then be converted into cash through the same physical avenues above or via door-to-door delivery, and may also be used to pay utility bills and purchase items.
\nThe app makes use of the Blockchain platform for each transaction, a Web-based settlements system that allows clearing in a matter of seconds. The amounts are still expressed in peso value, with its Bitcoin equivalent used as the \u201clanguage\u201d to transact under Blockchain.
\n\u201cI\u2019m a big believer that growth is going to come from Asia for the next two to three decades, and if you look not just in the Philippines but across other emerging markets, GDP is growing very quickly but a lot of people are being left behind without access to very basic services,\u201d Mr. Hose said when asked why he ventured into the Philippine market.
\n\u201cThe thing that can change it is technology. Everybody has a cell phone, and increasingly people have smartphones even in really remote areas\u2026 The channel is there, you can access people and provide them with services.\u201d
\nThe Philippines has constantly been cited as a regional outperformer in terms of economic growth, but a gnawing gap between the rich and the poor remains, along with a large chunk of unbanked individuals. A 2015 survey from the Bangko Sentral ng Pilipinas (BSP) showed that only five in 10 Filipinos have experienced transacting with banks, while only a third of adults placing their savings in a bank account and about 70% opting to keep their money at home.
\n\u201cIn the Philippines, more people have Facebook accounts than a bank accounts\u2026 Not having access to the financial system actually ends up being very, very costly,\u201d Mr. Hose said, pointing out huge spreads lost due to remittance and other processing fees in traditional modes of fund transfers.
\nMr. Hose sees his business as complementing the growth in online-based businesses, while also contributing to the government\u2019s efforts to broaden financial inclusion. In fact, he eyes to bring the share of Filipinos with access to formal financial gateways to at least 50% by 2020, coupled with work done by banks, technology providers, and government.
\nPhilippines is world\u2019s third-largest bitcoin market
\nAn estimated $2 million to $3 million are being transacted via bitcoin exchanges in a month, BSP Deputy Governor Nestor A. Espenilla, Jr. has said, making the Philippines the third biggest Bitcoin market in the world.
\nLooking ahead, further growth is seen for the e-currency and e-commerce sectors, with the current regulatory environment deemed business-friendly. In particular, Mr. Hose described the country as a \u201cgreat place to incubate start-ups\u201d with solid economic growth, a relatively simple legal system, and low operating costs, along with cultural factors such as English-speaking residents who are \u201copen-minded\u201d and have a high sense of gender equality.
\nMr. Hose also said he is looking forward to get electronic money recognized and covered by local regulators, while assuring that consumer protection and anti-money laundering systems are currently in place.
\n\u201cDigital currency is still very new and it takes time for people to understand how it works and apply regulation to it,\u201d the entrepreneur said.
\n![\"000_Was8727136\"](\"http://www.bworldonline.com/wp-content/uploads/2016/07/000_Was8727136-300x191.jpg\")
BSP\u2019s Mr. Espenilla has said the central bank is looking to amend its rules to cover virtual money issuers, particularly for those engaged in bitcoin trading. Unlike bills and coins, the Bitcoin is not issued nor guaranteed by the central bank.
Separately, the central bank and other government agencies are working on a National Retail Payments System to allow more retailers and consumers to shift to mobile payments and fast-track money transfers.
\nThe regulatory environment remains favorable, with government agencies tweaking rules to accommodate innovation. This was seen with how the Land Transportation Franchising and Regulatory Board issued permits for Grab and Uber vehicles to offer its ride-hailing services in Metro Manila and key cities in the country, as well as the central bank\u2019s move to allow non-bank firms to offer financial services to broaden access to formal channels.
\nProspects for improved Internet service may also provide a lift to future business, with the government soon to dedicate a new agency focusing on connectivity under the Department of Information and Communication Technology.
\n\u201cIn order to drive this type of growth and transformation, you need the Internet as baseline infrastructure, a utility,\u201d Mr. Hose said. \u201cIt\u2019s really the great enabler. The fact that people have slow service is really slowing down growth.\u201d
\n—–
\nMelissa Luz T. Lopez (@meltlopez on Twitter) covers the central bank and the macroeconomy for 大象传媒 after a year in the political beat. She gets by with a mix of wit and luck.
\n", "content_text": "By Melissa Luz T. Lopez, Reporter\nIn this age of smartphones, everything is a tap or two away for anyone online.\nAs a result, work and play have increasingly gone digital, helping boost demand for electronic money that can be easily sent and received using online payment settlement platforms.\nAs more and more Filipinos equip themselves with Internet-enabled devices, online financial transactions can only go up.\nThese transactions can be conducted anywhere \u2014 at home, cramped inside a public train, or sitting in the office; with a steady and stable Internet connection, shopping and payment for goods and services can be done at the tap of a finger or at a click of a mouse.\nTo ensure that these online transactions \u2014 and its related processes \u2014 incur minimal snags, the Department of Trade and Industry (DTI) last February launched a Philippine e-Commerce Roadmap spanning five years to 2020, covering infrastructure, laws, additional investments, data privacy, consumer education, and regional integration.\nBesides helping support small-scale businesses, it will allow more Filipinos to avail of financial services online.\nThese moves are part of the government\u2019s grand plan to bring the electronic sector\u2019s contribution to 25% of gross domestic product (GDP) by 2020, coming from an estimated 10% share in 2015.\nAlong with the advent of online merchants and service providers came the use of Bitcoin, a payment system that allows users to send and receive payments without an intermediary.\nFirm betting big on digital currency\nGrowing interest and demand for e-commerce and online exchange in the Philippines prompted Ron Hose, then a tech investor at the Silicon Valley, to come to the Philippines and set up Coins.ph, an online firm that serves as a platform for mobile payments.\n\u201cPeople use digital currency here to accomplish things,\u201d Mr. Hose, co-founder and chief executive officer of Coins.ph, said in an interview last month. \u201cYou can directly use the services for people to send money home at lower costs and bypass that 7-8% (in service fees) to an average of 1-3%.\u201d\n\u201cWe allow people to pay their bills using their mobile phone, top-up their phones, those kind of things.\u201d\nCoins.ph is a downloadable app that serves as an e-wallet and mobile dock for multiple bank accounts, which can send and receive money across both members and non-registered users. Money is loaded on a user\u2019s account through partner brick-and-mortar merchants such as 7-Eleven convenience stores and pawnshop outlets, and may be sent and received across bank accounts, e-mail addresses, text messages, and Facebook profiles through the platform. The credit may then be converted into cash through the same physical avenues above or via door-to-door delivery, and may also be used to pay utility bills and purchase items.\nThe app makes use of the Blockchain platform for each transaction, a Web-based settlements system that allows clearing in a matter of seconds. The amounts are still expressed in peso value, with its Bitcoin equivalent used as the \u201clanguage\u201d to transact under Blockchain.\n\u201cI\u2019m a big believer that growth is going to come from Asia for the next two to three decades, and if you look not just in the Philippines but across other emerging markets, GDP is growing very quickly but a lot of people are being left behind without access to very basic services,\u201d Mr. Hose said when asked why he ventured into the Philippine market.\n\u201cThe thing that can change it is technology. Everybody has a cell phone, and increasingly people have smartphones even in really remote areas\u2026 The channel is there, you can access people and provide them with services.\u201d\nThe Philippines has constantly been cited as a regional outperformer in terms of economic growth, but a gnawing gap between the rich and the poor remains, along with a large chunk of unbanked individuals. A 2015 survey from the Bangko Sentral ng Pilipinas (BSP) showed that only five in 10 Filipinos have experienced transacting with banks, while only a third of adults placing their savings in a bank account and about 70% opting to keep their money at home.\n\u201cIn the Philippines, more people have Facebook accounts than a bank accounts\u2026 Not having access to the financial system actually ends up being very, very costly,\u201d Mr. Hose said, pointing out huge spreads lost due to remittance and other processing fees in traditional modes of fund transfers.\nMr. Hose sees his business as complementing the growth in online-based businesses, while also contributing to the government\u2019s efforts to broaden financial inclusion. In fact, he eyes to bring the share of Filipinos with access to formal financial gateways to at least 50% by 2020, coupled with work done by banks, technology providers, and government.\nPhilippines is world\u2019s third-largest bitcoin market\nAn estimated $2 million to $3 million are being transacted via bitcoin exchanges in a month, BSP Deputy Governor Nestor A. Espenilla, Jr. has said, making the Philippines the third biggest Bitcoin market in the world.\nLooking ahead, further growth is seen for the e-currency and e-commerce sectors, with the current regulatory environment deemed business-friendly. In particular, Mr. Hose described the country as a \u201cgreat place to incubate start-ups\u201d with solid economic growth, a relatively simple legal system, and low operating costs, along with cultural factors such as English-speaking residents who are \u201copen-minded\u201d and have a high sense of gender equality.\nMr. Hose also said he is looking forward to get electronic money recognized and covered by local regulators, while assuring that consumer protection and anti-money laundering systems are currently in place.\n\u201cDigital currency is still very new and it takes time for people to understand how it works and apply regulation to it,\u201d the entrepreneur said.\nBSP\u2019s Mr. Espenilla has said the central bank is looking to amend its rules to cover virtual money issuers, particularly for those engaged in bitcoin trading. Unlike bills and coins, the Bitcoin is not issued nor guaranteed by the central bank.\nSeparately, the central bank and other government agencies are working on a National Retail Payments System to allow more retailers and consumers to shift to mobile payments and fast-track money transfers.\nThe regulatory environment remains favorable, with government agencies tweaking rules to accommodate innovation. This was seen with how the Land Transportation Franchising and Regulatory Board issued permits for Grab and Uber vehicles to offer its ride-hailing services in Metro Manila and key cities in the country, as well as the central bank\u2019s move to allow non-bank firms to offer financial services to broaden access to formal channels.\nProspects for improved Internet service may also provide a lift to future business, with the government soon to dedicate a new agency focusing on connectivity under the Department of Information and Communication Technology.\n\u201cIn order to drive this type of growth and transformation, you need the Internet as baseline infrastructure, a utility,\u201d Mr. Hose said. \u201cIt\u2019s really the great enabler. The fact that people have slow service is really slowing down growth.\u201d\n—–\nMelissa Luz T. Lopez (@meltlopez on Twitter) covers the central bank and the macroeconomy for 大象传媒 after a year in the political beat. She gets by with a mix of wit and luck.", "date_published": "2016-07-27T15:57:39+08:00", "date_modified": "2016-07-27T15:57:39+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "computer", "e-commerce", "internet", "retail", "Shopping", "Disruption" ] }, { "id": "http://www.bworldonline.com/?p=147129", "url": "/disruption/2016/07/27/147129/are-philippine-travel-agencies-dead/", "title": "Are Philippine travel agencies dead?", "content_html": "By April Paulyn B. Roque
\n![\"Sinulog](\"http://www.bworldonline.com/wp-content/uploads/2016/07/000_Hkg446873-300x215.jpg\")
That\u2019s a question that\u2019s been hounding the industry since the late 1990s.
\nDuring that period, Internet access became widely available locally, allowing Web users to directly book and pay for their trips and accommodations online, thereby cutting off travel agents.
\nThis much has been admitted by Rajah Travel Corp. (RTC) Chairman and President Aileen C. Clemente in an interview.
\n\u201cThere has always been that question \u2014 whether travel agencies are going to die \u2014 and they\u2019ve been saying that since the \u201990s,\u201d she said.
\nMs. Clemente added: \u201cIf you\u2019re a traditional-model travel agency, then yes. We have seen those who are still using [that] method already close-up shop.\u201d
\nOver the past decade, this trend has been reflected in the United States, with the number of brick-and-mortar travel agencies steadily declining due to the rise of online alternatives.
\nHowever, it has been a slow \u2014 if painful \u2014 death for the traditional travel agency industry.
\nAccording to the updated version of the US Bureau of Labor Statistics\u2019 Occupational Outlook Handbook, traditional travel agency sector is expected to shed jobs by around 12% from 2012 to 2024.
\nThese job losses are due to the \u201c\u2026ability of travelers to use the Internet to research vacations and book their own trips,\u201d the handbook read. \u201c[It] is expected to continue to suppress demand for travel agents. An increasing amount of travel is also expected to be booked on mobile devices.\u201d
\nAs a result, being a travel agent is now a \u201cuseless job,\u201d Global job site CareerCast said.
\nHowever, the situation is not as hopeless as it looks, Ms. Clemente said.
\nAfter all, Rajah Travel \u2014 which has been in the travel industry for nearly four decades \u2014 remains one of the few companies to survive, adapt, and evolve with the times.
\nAs early as the 1990s, the company chose to invest in the right equipment and employ automated processes to maintain its position in the market.
\nThese strategies allowed them to grow their products and services and become more efficient in serving clients. Over the years, the company has evolved from a mere inbound- and outbound-ticketing agency to a full-fledged travel firm and offers a range of services like corporate travel management and travel consultancy.
\n\u201cThe traditional way would be just to ticket, but now that can be fulfilled by a click of a button. If you\u2019re there for the fulfillment, then you will go away. But if you\u2019re there offering experience, if you\u2019re there offering corporate clients you know good itineraries that fit their mold, then you\u2019re OK,\u201d she said. \u201cMost of the travel agencies [today] are like that. With an airline booking tool, you wouldn\u2019t be able to compare an airline with another. You wouldn\u2019t be able to compare the stopovers, how long it is, what VISA you need, or even what the configuration inside the plane looks like. They wouldn\u2019t tell you in comparison to another, and that\u2019s our role.\u201d
\nAutomation helped roll out vacation packages
\nThe automation RTC went through involved Business to Business (B2B) and Business to Consumer (B2C) technologies, which in this case, are booking tools that entail the exchange of services between the company and other businesses and clients, respectively.
\nThrough these investments, RTC was able to roll out vacation packages to international destinations ranging from Asia Pacific, Europe, and North and South America; form partnerships with other global travel-and-tour businesses like Contiki, Insight Vacations, Star Cruises, and Norwegian Cruise Line; and provide unique services like its travel registry, which allows friends and loved ones to contribute to a particular trip eyed by the buyer.
\nEven with their range of offers, Ms. Clemente acknowledged the rapid rise of online travel agencies (OTA) and their increasing popularity among budget travelers, but pointed out that there are numerous loopholes in terms of regulation.
\n\u201cAs far as OTAs are concerned, it\u2019s been a shift from one end of the pole to the other. It\u2019s polarizing because there are those who would need an OTA to \u2018market\u2019 \u2014 so to speak \u2014 in venues outside of their place. Of course when you\u2019re online, universally you can be seen,\u201d she said. \u201cNow for us as a travel company, the only question that we have now is how do you hold OTAs accountable? To what standard do you hold them up to? How safe is the consumer, or is it a \u201cconsumer beware!\u201d attitude that the government would want to have in putting policies in place?\u201d
\nShe went on to say that the existence of OTAs also poses a kind of discrimination against travel companies such as RTC because most do not pay taxes.
\n\u201cIt may be cheaper but they wouldn\u2019t be contributing,\u201d Ms. Clemente said. \u201cSo who are they? How do they get away with this and again, to what standards do you hold them up to? We don\u2019t mind having the sharing economy as long as we are under the same platform and we\u2019re subjected to the same rules.\u201d
\nLast year, RTC grew in several departments but a much of it was in inbound trips, which she ascribed to the overall campaign and policies put in place by the Department of Tourism (DoT).
\n![\"Visitor](\"http://www.bworldonline.com/wp-content/uploads/2016/07/Visitor-Arrivals.jpg\")
Based on data released by the DoT early in June, the month of April recorded a total of 471,598 visitors to the Philippines which is 11.39% higher compared to the same period last year. Furthermore, a total of 2,073,851 tourists arrivals were recorded from January to April 2016, representing an increase of 14.25% versus the 1,815,202 arrivals in 2015. The biggest volume of visitors was seen in February with the tourism department recording 549,725 arrivals, 20.42% higher than last year.
\nReceipts generated from visitors for the first four months of the year grew by 12.34% to P86.66 billion from P77.14 billion in 2015.
\nMs. Clemente, who is also the president of the ASEAN Tourism Association and the executive vice-president of the Tourism Congress, said that there are several provisions included in the Tourism Act of 2009 that \u201cchanged the paradigm of how you look at tourism.\u201d These provisions include the National Tourism Development Plan, which she said allowed people to appreciate a plan over a longer time period, and the National Tourism Coordinating Council, which mandated the coordination of DoT with different government departments.
\nShe said that among the successful partnerships formed by the tourism department was that with the Department of Public Works and Highways as it led to infrastructure and road improvements in remote tourist spots. But for her, the partnership with the Department of Transportation and Communication should have been given priority as well because there is a lot of room for improvement in the field.
\n\u201cIt\u2019s not just the airports, it\u2019s not just the aviation. It\u2019s maritime as well,\u201d she said. \u201cIt\u2019s more resonant to talk about aviation because we are an archipelago, but if we also have means of traveling within the archipelago or from another place to us then it makes it a desirable way to go around. So I think that\u2019s very important.\u201d
\nAs a member of both the public and the private sector, Ms. Clemente said she hopes whoever will be at the helm of tourism in the country be not only promotion-driven, but also policy-driven.
\n\u201cTourism is a very complex and yet a very meaningful endeavor for the economy because it\u2019s really the most inclusive, if you think about it. If we have that paradigm in place then we should be OK,\u201d she said. \u201cThe real business of tourism, as said by former tourism secretary Ramon R. Jimenez, Jr. is that it\u2019s a people\u2019s business. It has a big economic impact if you look at it and that\u2019s why I want it to be policy-driven.\u201d
\n![\"Gross](\"http://www.bworldonline.com/wp-content/uploads/2016/07/1607-Tourism-GVATI.jpg\")
—–
\nApril Paulyn B. Roque (@aprilpaulyn on Twitter) is an English Literature graduate. When she\u2019s not writing, she\u2019s either reading dystopian novels or watching dog videos online. 大象传媒 Senior researcher Kia B. Obang (@kiaobang on Twitter) helped provide data to infographics designed by Margarita Samantha Gonzales (@famamfa on Twitter).
\n", "content_text": "By April Paulyn B. Roque\nA PERFORMER during the culmination of the nine-day religious Cebu festival called Sinulog.\nThat\u2019s a question that\u2019s been hounding the industry since the late 1990s.\nDuring that period, Internet access became widely available locally, allowing Web users to directly book and pay for their trips and accommodations online, thereby cutting off travel agents.\nThis much has been admitted by Rajah Travel Corp. (RTC) Chairman and President Aileen C. Clemente in an interview.\n\u201cThere has always been that question \u2014 whether travel agencies are going to die \u2014 and they\u2019ve been saying that since the \u201990s,\u201d she said.\nMs. Clemente added: \u201cIf you\u2019re a traditional-model travel agency, then yes. We have seen those who are still using [that] method already close-up shop.\u201d\nOver the past decade, this trend has been reflected in the United States, with the number of brick-and-mortar travel agencies steadily declining due to the rise of online alternatives.\nHowever, it has been a slow \u2014 if painful \u2014 death for the traditional travel agency industry.\nAccording to the updated version of the US Bureau of Labor Statistics\u2019 Occupational Outlook Handbook, traditional travel agency sector is expected to shed jobs by around 12% from 2012 to 2024.\nThese job losses are due to the \u201c\u2026ability of travelers to use the Internet to research vacations and book their own trips,\u201d the handbook read. \u201c[It] is expected to continue to suppress demand for travel agents. An increasing amount of travel is also expected to be booked on mobile devices.\u201d\nAs a result, being a travel agent is now a \u201cuseless job,\u201d Global job site CareerCast said.\nHowever, the situation is not as hopeless as it looks, Ms. Clemente said.\nAfter all, Rajah Travel \u2014 which has been in the travel industry for nearly four decades \u2014 remains one of the few companies to survive, adapt, and evolve with the times.\nAs early as the 1990s, the company chose to invest in the right equipment and employ automated processes to maintain its position in the market.\nThese strategies allowed them to grow their products and services and become more efficient in serving clients. Over the years, the company has evolved from a mere inbound- and outbound-ticketing agency to a full-fledged travel firm and offers a range of services like corporate travel management and travel consultancy.\n\u201cThe traditional way would be just to ticket, but now that can be fulfilled by a click of a button. If you\u2019re there for the fulfillment, then you will go away. But if you\u2019re there offering experience, if you\u2019re there offering corporate clients you know good itineraries that fit their mold, then you\u2019re OK,\u201d she said. \u201cMost of the travel agencies [today] are like that. With an airline booking tool, you wouldn\u2019t be able to compare an airline with another. You wouldn\u2019t be able to compare the stopovers, how long it is, what VISA you need, or even what the configuration inside the plane looks like. They wouldn\u2019t tell you in comparison to another, and that\u2019s our role.\u201d\nAutomation helped roll out vacation packages\nThe automation RTC went through involved Business to Business (B2B) and Business to Consumer (B2C) technologies, which in this case, are booking tools that entail the exchange of services between the company and other businesses and clients, respectively.\nThrough these investments, RTC was able to roll out vacation packages to international destinations ranging from Asia Pacific, Europe, and North and South America; form partnerships with other global travel-and-tour businesses like Contiki, Insight Vacations, Star Cruises, and Norwegian Cruise Line; and provide unique services like its travel registry, which allows friends and loved ones to contribute to a particular trip eyed by the buyer.\nEven with their range of offers, Ms. Clemente acknowledged the rapid rise of online travel agencies (OTA) and their increasing popularity among budget travelers, but pointed out that there are numerous loopholes in terms of regulation.\n\u201cAs far as OTAs are concerned, it\u2019s been a shift from one end of the pole to the other. It\u2019s polarizing because there are those who would need an OTA to \u2018market\u2019 \u2014 so to speak \u2014 in venues outside of their place. Of course when you\u2019re online, universally you can be seen,\u201d she said. \u201cNow for us as a travel company, the only question that we have now is how do you hold OTAs accountable? To what standard do you hold them up to? How safe is the consumer, or is it a \u201cconsumer beware!\u201d attitude that the government would want to have in putting policies in place?\u201d\nShe went on to say that the existence of OTAs also poses a kind of discrimination against travel companies such as RTC because most do not pay taxes.\n\u201cIt may be cheaper but they wouldn\u2019t be contributing,\u201d Ms. Clemente said. \u201cSo who are they? How do they get away with this and again, to what standards do you hold them up to? We don\u2019t mind having the sharing economy as long as we are under the same platform and we\u2019re subjected to the same rules.\u201d\nLast year, RTC grew in several departments but a much of it was in inbound trips, which she ascribed to the overall campaign and policies put in place by the Department of Tourism (DoT).\n\nBased on data released by the DoT early in June, the month of April recorded a total of 471,598 visitors to the Philippines which is 11.39% higher compared to the same period last year. Furthermore, a total of 2,073,851 tourists arrivals were recorded from January to April 2016, representing an increase of 14.25% versus the 1,815,202 arrivals in 2015. The biggest volume of visitors was seen in February with the tourism department recording 549,725 arrivals, 20.42% higher than last year.\nReceipts generated from visitors for the first four months of the year grew by 12.34% to P86.66 billion from P77.14 billion in 2015.\nMs. Clemente, who is also the president of the ASEAN Tourism Association and the executive vice-president of the Tourism Congress, said that there are several provisions included in the Tourism Act of 2009 that \u201cchanged the paradigm of how you look at tourism.\u201d These provisions include the National Tourism Development Plan, which she said allowed people to appreciate a plan over a longer time period, and the National Tourism Coordinating Council, which mandated the coordination of DoT with different government departments.\nShe said that among the successful partnerships formed by the tourism department was that with the Department of Public Works and Highways as it led to infrastructure and road improvements in remote tourist spots. But for her, the partnership with the Department of Transportation and Communication should have been given priority as well because there is a lot of room for improvement in the field.\n\u201cIt\u2019s not just the airports, it\u2019s not just the aviation. It\u2019s maritime as well,\u201d she said. \u201cIt\u2019s more resonant to talk about aviation because we are an archipelago, but if we also have means of traveling within the archipelago or from another place to us then it makes it a desirable way to go around. So I think that\u2019s very important.\u201d\nAs a member of both the public and the private sector, Ms. Clemente said she hopes whoever will be at the helm of tourism in the country be not only promotion-driven, but also policy-driven.\n\u201cTourism is a very complex and yet a very meaningful endeavor for the economy because it\u2019s really the most inclusive, if you think about it. If we have that paradigm in place then we should be OK,\u201d she said. \u201cThe real business of tourism, as said by former tourism secretary Ramon R. Jimenez, Jr. is that it\u2019s a people\u2019s business. It has a big economic impact if you look at it and that\u2019s why I want it to be policy-driven.\u201d\n\n—–\nApril Paulyn B. Roque (@aprilpaulyn on Twitter) is an English Literature graduate. When she\u2019s not writing, she\u2019s either reading dystopian novels or watching dog videos online. 大象传媒 Senior researcher Kia B. Obang (@kiaobang on Twitter) helped provide data to infographics designed by Margarita Samantha Gonzales (@famamfa on Twitter).", "date_published": "2016-07-27T15:00:48+08:00", "date_modified": "2016-07-27T15:00:48+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Tourism", "tourists", "Travel", "travel agencies", "Disruption" ] }, { "id": "http://www.bworldonline.com/?p=147143", "url": "/disruption/2016/07/26/147143/businesses-urged-to-embrace-disruption/", "title": "Businesses urged to embrace disruption", "content_html": "By Jennibeth B. Reforsado
\nCompanies have no other option but to embrace disruption to keep them ahead of the curve, speakers said during the disruption session of 大象传媒\u2019s first-ever Economic Forum held last July 12 at the Shangri-La at the Fort, Bonifacio Global City, Taguig.
\nFirms must realize the importance of responding to changes \u2014 inside and outside the corporate world, said Margot B. Torres, executive vice-president and deputy managing director of McDonald\u2019s Philippines, and one of the speakers during the session. She cited the fate of more than half of Fortune 500 companies that have gone bankrupt, have been acquired, or have ceased to exist since 2000 due to disruption.
\nFor his part, Alfredo C. Tan, group director of Global Marketing Solutions, Facebook Canada, concurred, saying that since change is currently the norm, companies must never be complacent and never stop innovating.
\nHe also said that the world has already gone mobile, with 7.5 billion mobile devices expected to grow five times than the population of 100 countries including the Philippines. This massive consumer base presents a lot of opportunities for firms, he added.
\nA similar opportunity will also be afforded to the players of the country\u2019s power industry if they go solar, said Leandro L. Leviste, Solar Philippines president.
\nCalling it as the power industry\u2019s \u201cbest kept secret,\u201d he said solar with batteries is cheap enough to displace the country\u2019s entire gas and diesel and supply the majority of our energy demand, with the balance in co-existence with coal. He cited Deutsche Bank\u2019s report on grid parity that said the Philippines is best suited for solar as we have one of the world\u2019s highest power rates and high solar irradiation.
\n\u201c[Solar] can grow the power industry by five times, lower power prices, clean the environment, create a million jobs, and [is] the biggest investment opportunity of the 21st century,\u201d said Mr. Leviste.
\nFor his part, Donald Patrick Lim, ABS-CBN Broadcasting Corporation Digital Media Division\u2019s chief digital officer, refers to innovation as the centerpiece of every organization. He cautioned, though, that the challenge of innovation does not really lie on small companies but on bigger, established ones.
\n\u201cWhether we like it or not, we are already [in the digital age]. The question as an organization is how much we digitize our companies,\u201d he said, adding that several corporations have to go through so-called \u201cdigital maturity\u201d by first assessing upon themselves where they are now and where to go further. This, as Mr. Tan pointed out that the tools of today will not necessarily be the tools of tomorrow.
\nMeanwhile, McDonald\u2019s Ms. Torres gave six pointers \u2014 agility, authenticity, experience, intimacy, omni channel, and utility \u2014 to guide businesses as they embark on the journey towards disruption.
\n\u201cDisruption probably means changing your own mindset. Companies actually do not change, people do. Your competition is yourself against becoming unwilling and uncapable of change,\u201d she said.
\nDisruptive technologies may do pose as challenges for businesses in every sector, but for those who have the will to change to stay relevant in these ever-changing times, disruption is an ally. As Mr. Leviste said, disruption should not be prevented, and that \u201cif you can\u2019t beat them, you should join them.\u201d
\nJennibeth B. Reforsado worked as a proofreader for 大象传媒 for three years. She is now a writer-in-training for the Special Features Section.
\n", "content_text": "By Jennibeth B. Reforsado\nCompanies have no other option but to embrace disruption to keep them ahead of the curve, speakers said during the disruption session of 大象传媒\u2019s first-ever Economic Forum held last July 12 at the Shangri-La at the Fort, Bonifacio Global City, Taguig.\nFirms must realize the importance of responding to changes \u2014 inside and outside the corporate world, said Margot B. Torres, executive vice-president and deputy managing director of McDonald\u2019s Philippines, and one of the speakers during the session. She cited the fate of more than half of Fortune 500 companies that have gone bankrupt, have been acquired, or have ceased to exist since 2000 due to disruption.\nFor his part, Alfredo C. Tan, group director of Global Marketing Solutions, Facebook Canada, concurred, saying that since change is currently the norm, companies must never be complacent and never stop innovating.\nHe also said that the world has already gone mobile, with 7.5 billion mobile devices expected to grow five times than the population of 100 countries including the Philippines. This massive consumer base presents a lot of opportunities for firms, he added.\nA similar opportunity will also be afforded to the players of the country\u2019s power industry if they go solar, said Leandro L. Leviste, Solar Philippines president.\nCalling it as the power industry\u2019s \u201cbest kept secret,\u201d he said solar with batteries is cheap enough to displace the country\u2019s entire gas and diesel and supply the majority of our energy demand, with the balance in co-existence with coal. He cited Deutsche Bank\u2019s report on grid parity that said the Philippines is best suited for solar as we have one of the world\u2019s highest power rates and high solar irradiation.\n\u201c[Solar] can grow the power industry by five times, lower power prices, clean the environment, create a million jobs, and [is] the biggest investment opportunity of the 21st century,\u201d said Mr. Leviste.\nFor his part, Donald Patrick Lim, ABS-CBN Broadcasting Corporation Digital Media Division\u2019s chief digital officer, refers to innovation as the centerpiece of every organization. He cautioned, though, that the challenge of innovation does not really lie on small companies but on bigger, established ones.\n\u201cWhether we like it or not, we are already [in the digital age]. The question as an organization is how much we digitize our companies,\u201d he said, adding that several corporations have to go through so-called \u201cdigital maturity\u201d by first assessing upon themselves where they are now and where to go further. This, as Mr. Tan pointed out that the tools of today will not necessarily be the tools of tomorrow.\nMeanwhile, McDonald\u2019s Ms. Torres gave six pointers \u2014 agility, authenticity, experience, intimacy, omni channel, and utility \u2014 to guide businesses as they embark on the journey towards disruption.\n\u201cDisruption probably means changing your own mindset. Companies actually do not change, people do. Your competition is yourself against becoming unwilling and uncapable of change,\u201d she said.\nDisruptive technologies may do pose as challenges for businesses in every sector, but for those who have the will to change to stay relevant in these ever-changing times, disruption is an ally. As Mr. Leviste said, disruption should not be prevented, and that \u201cif you can\u2019t beat them, you should join them.\u201d\nJennibeth B. Reforsado worked as a proofreader for 大象传媒 for three years. She is now a writer-in-training for the Special Features Section.", "date_published": "2016-07-26T16:04:08+08:00", "date_modified": "2016-07-26T16:04:08+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Disruption" ] }, { "id": "http://www.bworldonline.com/?p=147436", "url": "/disruption/2016/07/25/147436/will-video-on-demand-kill-free-tv/", "title": "Will video on demand kill free TV?", "content_html": "By Zsarlene B. Chua, Reporter
\n\u201cThey should be scared.\u201d
\nThat was how a March 6 story published on Fortune magazine\u2019s Web site described the effects of streaming/video-on-demand services (VOD) like Netflix towards networks and cable television in the United States.
\nIt cit![\"who-s-in-control-1550706\"](\"http://www.bworldonline.com/wp-content/uploads/2016/12/who-s-in-control-1550706-1024x768.jpg\")
ed a study from MofettNathanson (Is Netflix Killing TV?) which revealed that Netflix and its rivals are slowly \u2014 but surely \u2014 eating away TV audiences, making them turn away from their flat screens and onto their laptops and mobile devices as in 2015. \u201c[R]oughly half of the 3% overall decline in US TV viewing\u201d can be blamed squarely on Netflix\u2019s shoulders, the study said.
The streaming giant\u2019s continuous release of original and licensed content, is giving audiences \u201cmore and more viewing options for viewers who might otherwise be surfing hundreds of cable channels,\u201d the study added. \u201cHours of video streamed on Netflix will continue to increase in coming years, growing to represent 14% of overall TV viewership by 2020.\u201d
\nAs of April, Netflix is available in 190 countries and has 81 million subscribers, 46 million of which are in the US.
\nWhen Netflix went live in the Philippines \u2014 and more than a hundred markets simultaneously, on January 6 \u2014 analysts predicted that cable TV companies will take a hit since their content is similarly offered by the global streaming service. Netflix\u2019s entry is \u201cexpected to pull Filipinos away from cable television,\u201d said an article published by 大象传媒\u00a0the day after the Netflix launch.
\nHowever, the players themselves \u2014 streaming services, cable companies, and local television networks \u2014 think that the Philippines will not so easily follow the US lead and will, in fact, build a complementary relationship in a market that has so much room for growth.
\n\u201cI personally think Asia will evolve differently than North America. And here\u2019s why: in the Philippines today, great broadcast content \u2014 take SkyCable for example or pay TV \u2014 is only available in two million households and there are 20 million households so there\u2019s plenty of room for both linear channels to grow as well as us,\u201d Peter Bithos, HOOQ CEO, told 大象传媒 in an interview.
\nThe Singapore-based service, which launched in February last year, boasts of more than 180,000 paying subscribers in the country alone. It is currently available in Thailand, India, and Indonesia and is looking to expand in South America and Africa.
\nPay TV, streaming to grow together but up to a point
\nBoth ecosystems \u2014 streaming and cable \u2014 will grow at the same time in Asia, Mr. Bithos said, citing the region\u2019s economy, which is growing much faster than North America or Europe.
\n![\"1607-S4-Anniv---VOD\"](\"http://www.bworldonline.com/wp-content/uploads/2016/12/1607-S4-Anniv-VOD.jpg\")
His view is shared by David Goldstein, the Asia head of iflix, a similar service launched a few months after HOOQ. It has 1.5 million users and seeks to expand in Africa and the Middle East.
\niflix users\u2019 peak viewership times are \u201cdifferent than broadcast,\u201d Mr. Goldtein said. \u201cSo [broadcast] has their primetime from maybe 6:00 p.m. to 9:00 p.m., we actually peak from 9:00 p.m. to 1:00 a.m. So it\u2019s very complementary.\u201d
\nAccording to RTL CBS Asia Entertainment Network \u2014 an English language entertainment channel serving Southeast Asia that was launched in September 2013 \u2014 its Nielsen ratings in the Philippines increased for the past six months, despite the entry of video streaming platforms.
\n\u201cExisting in the same environment, we\u2019ve seen our Nielsen rankings rise in the last six months with viewership increasing three times over,\u201d said Rene Esguerra, Philippine country head of RTL CBS Entertainment, a joint venture between RTL Group and CBS Studios International.
\nExclusive TV events like award shows aired via satellite and \u201cwatch-a-thons of popular series such as House of Cards (a Netflix original)\u201d are driving viewers to the network, Mr. Esguerra said. Talent shows such as Britain\u2019s Got Talent, The X Factor UK, among others, also helped viewership numbers, especially since Filipinos love talent shows, he added.
\nHowever, the environment might change in the next five years.
\nBy that time, video streaming services might already make a dent in Filipino cable and local television networks, Mr. Bithos said.
\nBut for Dingdong L. Caharian, general manager and senior vice-president of GMA New Media, Inc., it may still be too early to tell.
\nAlthough the rise in viewership of on-demand services is inevitable, \u201cwe have yet to determine whether the proliferation of\u00a0 VOD services in the Philippines will affect traditional TV viewership negatively,\u201d Mr. Caharian said.
\nThe platform\u2019s \u201cviability is largely hinged on the speed and affordability of internet access in the country.\u00a0We have yet to see it making a dent, so to speak,\u201d he added. (Content from local networks such as GMA, ABS-CBN, and TV5 are currently available in both HOOQ and iflix, though ABS-CBN maintains a separate catch-up service called iWantTV).
\nMr. Goldstein echoed Mr. Caharian\u2019s sentiment saying, \u201cI think it comes down to the availability of infrastructure in the country \u2014 if it\u2019s consistent. It\u2019s challenging to get it all the way across the Philippines whereas Filipinos are used to watching TV.\u201d
\n\u201cI actually equate VOD
\n![\"1607-S4-Anniv---TV-networks\"](\"http://www.bworldonline.com/wp-content/uploads/2016/12/1607-S4-Anniv-TV-networks.jpg\")
to the evolution from fixed to mobile. Original pay TV was delivering content to the household, as for us, we\u2019re delivering content to the individual and we\u2019re going the same penetration growth,\u201d he added.
\nNetflix, ABS-CBN, and TV5 declined to comment on the matter.
\nContent is king
\nWithout any clear winners \u2014 or losers \u2014 so far in the evolving battleground, all players nevertheless agreed that whoever has the best content will win.
\n\u201cAt the end of the day, it\u2019s still all about content,\u201d Mr. Esguerra said, adding that VOD and pay TV are just platforms for delivery.
\nMr. Goldstein added: \u201cWhat enabled to content to become king is that networks now allow a decent user experience (the speeds of the mobile networks, availability of Wi-Fi, penetration of home broadband). You can actually deliver a decent user experience over the Internet.\u201d
\nFollowing the lead of Netflix with its cache of original productions that swept its market by storm (House of Cards, Orange is the New Black, among others) VODs operating in the Philippines have also started creating their own, with HOOQ recently announcing a six-episode mini-series based on Erik Matti\u2019s 2013 film about convicts-turned-assassins, On the Job.
\nThe series is slated for release in the fourth quarter of the year.
\niflix revealed that it is planning to do the same next year just as soon as they find the right content.
\nSimilarly, Netflix is also preparing more original Asian productions, a CTV news report said.
\nHowever, both HOOQ and iflix don\u2019t consider Netflix a competitor.
\nAfter all, the service \u201cis more expensive than us,\u201d offers \u201cless local content\u201d and is becoming \u201cmore [into] creating content and then distributing on their network, whereas we\u2019re an aggregator of content for emerging markets and it\u2019s very customized market to market,\u201d said Mr. Goldstein.
\nNetflix\u2019s basic plan starts at P370 a month (the premium plan is at P550/month) while iflix and HOOQ subscriptions are at P129 and P149, respectively.
\nWhether Netflix makes it big in the Philippines or not, it\u2019s not going to break its business, said HOOQ\u2019s Bithos, adding that niches have yet to be exploited.
\nFor his part, Mr. Goldstein sees that the platform still has room for many other players.
\nVideo streaming services \u201care becoming individual products,\u201d he said. \u201cThere\u2019s so many varying tastes so you can have many types of OTTs (over-the-top content, another name for VODs) to serve the different needs of people.\u201d
\nZsarlene B. Chua (@zsazsa_chua on Twitter) covers travel and entertainment for 大象传媒\u2019s Arts and Leisure section. 大象传媒 Researcher DINDO F. PARAGAS (@dindo_paragas on Twitter) helped provide data to the infographics.
\n", "content_text": "By Zsarlene B. Chua, Reporter\n\u201cThey should be scared.\u201d\nThat was how a March 6 story published on Fortune magazine\u2019s Web site described the effects of streaming/video-on-demand services (VOD) like Netflix towards networks and cable television in the United States.\nIt cited a study from MofettNathanson (Is Netflix Killing TV?) which revealed that Netflix and its rivals are slowly \u2014 but surely \u2014 eating away TV audiences, making them turn away from their flat screens and onto their laptops and mobile devices as in 2015. \u201c[R]oughly half of the 3% overall decline in US TV viewing\u201d can be blamed squarely on Netflix\u2019s shoulders, the study said.\nThe streaming giant\u2019s continuous release of original and licensed content, is giving audiences \u201cmore and more viewing options for viewers who might otherwise be surfing hundreds of cable channels,\u201d the study added. \u201cHours of video streamed on Netflix will continue to increase in coming years, growing to represent 14% of overall TV viewership by 2020.\u201d\nAs of April, Netflix is available in 190 countries and has 81 million subscribers, 46 million of which are in the US.\nWhen Netflix went live in the Philippines \u2014 and more than a hundred markets simultaneously, on January 6 \u2014 analysts predicted that cable TV companies will take a hit since their content is similarly offered by the global streaming service. Netflix\u2019s entry is \u201cexpected to pull Filipinos away from cable television,\u201d said an article published by 大象传媒\u00a0the day after the Netflix launch.\nHowever, the players themselves \u2014 streaming services, cable companies, and local television networks \u2014 think that the Philippines will not so easily follow the US lead and will, in fact, build a complementary relationship in a market that has so much room for growth.\n\u201cI personally think Asia will evolve differently than North America. And here\u2019s why: in the Philippines today, great broadcast content \u2014 take SkyCable for example or pay TV \u2014 is only available in two million households and there are 20 million households so there\u2019s plenty of room for both linear channels to grow as well as us,\u201d Peter Bithos, HOOQ CEO, told 大象传媒 in an interview.\nThe Singapore-based service, which launched in February last year, boasts of more than 180,000 paying subscribers in the country alone. It is currently available in Thailand, India, and Indonesia and is looking to expand in South America and Africa.\nPay TV, streaming to grow together but up to a point\nBoth ecosystems \u2014 streaming and cable \u2014 will grow at the same time in Asia, Mr. Bithos said, citing the region\u2019s economy, which is growing much faster than North America or Europe.\n\nHis view is shared by David Goldstein, the Asia head of iflix, a similar service launched a few months after HOOQ. It has 1.5 million users and seeks to expand in Africa and the Middle East.\niflix users\u2019 peak viewership times are \u201cdifferent than broadcast,\u201d Mr. Goldtein said. \u201cSo [broadcast] has their primetime from maybe 6:00 p.m. to 9:00 p.m., we actually peak from 9:00 p.m. to 1:00 a.m. So it\u2019s very complementary.\u201d\nAccording to RTL CBS Asia Entertainment Network \u2014 an English language entertainment channel serving Southeast Asia that was launched in September 2013 \u2014 its Nielsen ratings in the Philippines increased for the past six months, despite the entry of video streaming platforms.\n\u201cExisting in the same environment, we\u2019ve seen our Nielsen rankings rise in the last six months with viewership increasing three times over,\u201d said Rene Esguerra, Philippine country head of RTL CBS Entertainment, a joint venture between RTL Group and CBS Studios International.\nExclusive TV events like award shows aired via satellite and \u201cwatch-a-thons of popular series such as House of Cards (a Netflix original)\u201d are driving viewers to the network, Mr. Esguerra said. Talent shows such as Britain\u2019s Got Talent, The X Factor UK, among others, also helped viewership numbers, especially since Filipinos love talent shows, he added.\nHowever, the environment might change in the next five years.\nBy that time, video streaming services might already make a dent in Filipino cable and local television networks, Mr. Bithos said.\nBut for Dingdong L. Caharian, general manager and senior vice-president of GMA New Media, Inc., it may still be too early to tell.\nAlthough the rise in viewership of on-demand services is inevitable, \u201cwe have yet to determine whether the proliferation of\u00a0 VOD services in the Philippines will affect traditional TV viewership negatively,\u201d Mr. Caharian said.\nThe platform\u2019s \u201cviability is largely hinged on the speed and affordability of internet access in the country.\u00a0We have yet to see it making a dent, so to speak,\u201d he added. (Content from local networks such as GMA, ABS-CBN, and TV5 are currently available in both HOOQ and iflix, though ABS-CBN maintains a separate catch-up service called iWantTV).\nMr. Goldstein echoed Mr. Caharian\u2019s sentiment saying, \u201cI think it comes down to the availability of infrastructure in the country \u2014 if it\u2019s consistent. It\u2019s challenging to get it all the way across the Philippines whereas Filipinos are used to watching TV.\u201d\n\u201cI actually equate VOD\n\nto the evolution from fixed to mobile. Original pay TV was delivering content to the household, as for us, we\u2019re delivering content to the individual and we\u2019re going the same penetration growth,\u201d he added.\nNetflix, ABS-CBN, and TV5 declined to comment on the matter.\nContent is king\nWithout any clear winners \u2014 or losers \u2014 so far in the evolving battleground, all players nevertheless agreed that whoever has the best content will win.\n\u201cAt the end of the day, it\u2019s still all about content,\u201d Mr. Esguerra said, adding that VOD and pay TV are just platforms for delivery.\nMr. Goldstein added: \u201cWhat enabled to content to become king is that networks now allow a decent user experience (the speeds of the mobile networks, availability of Wi-Fi, penetration of home broadband). You can actually deliver a decent user experience over the Internet.\u201d\nFollowing the lead of Netflix with its cache of original productions that swept its market by storm (House of Cards, Orange is the New Black, among others) VODs operating in the Philippines have also started creating their own, with HOOQ recently announcing a six-episode mini-series based on Erik Matti\u2019s 2013 film about convicts-turned-assassins, On the Job.\nThe series is slated for release in the fourth quarter of the year.\niflix revealed that it is planning to do the same next year just as soon as they find the right content.\nSimilarly, Netflix is also preparing more original Asian productions, a CTV news report said.\nHowever, both HOOQ and iflix don\u2019t consider Netflix a competitor.\nAfter all, the service \u201cis more expensive than us,\u201d offers \u201cless local content\u201d and is becoming \u201cmore [into] creating content and then distributing on their network, whereas we\u2019re an aggregator of content for emerging markets and it\u2019s very customized market to market,\u201d said Mr. Goldstein.\nNetflix\u2019s basic plan starts at P370 a month (the premium plan is at P550/month) while iflix and HOOQ subscriptions are at P129 and P149, respectively.\nWhether Netflix makes it big in the Philippines or not, it\u2019s not going to break its business, said HOOQ\u2019s Bithos, adding that niches have yet to be exploited.\nFor his part, Mr. Goldstein sees that the platform still has room for many other players.\nVideo streaming services \u201care becoming individual products,\u201d he said. \u201cThere\u2019s so many varying tastes so you can have many types of OTTs (over-the-top content, another name for VODs) to serve the different needs of people.\u201d\nZsarlene B. Chua (@zsazsa_chua on Twitter) covers travel and entertainment for 大象传媒\u2019s Arts and Leisure section. 大象传媒 Researcher DINDO F. PARAGAS (@dindo_paragas on Twitter) helped provide data to the infographics.", "date_published": "2016-07-25T13:38:39+08:00", "date_modified": "2016-07-25T13:38:39+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Disruption" ] }, { "id": "http://www.bworldonline.com/?p=147403", "url": "/disruption/2016/07/25/147403/doctors-patients-make-digital-shift/", "title": "Doctors, patients make digital shift", "content_html": "![\"000_Hkg9212114\"](\"http://www.bworldonline.com/wp-content/uploads/2016/07/000_Hkg9212114-1024x681.jpg\")
By Jennibeth B. Reforsado
\nCora, a midwife employed in a rural health unit, receives patients on regular days.
\nBut for three days every week, she does the opposite: she travels to far-flung villages to check on those who need medical attention.
\nMost of the time she has to deal with huge amounts of paperwork and occasionally gets frustrated by bureaucratic procedures involved in transferring patients to hospitals more equipped to treat them.
\nCora\u2019s story is a reenactment of a narrative featured in a promotional short film produced by a telecommunications company for its digital health product.
\nBased on real-life experiences, the film vividly depicts the regular challenges a rural health worker encounters in a traditional health care setting. However, with the country\u2019s rapidly increasing development and adoption of digital technologies in the medical field, this, hopefully, may soon be a thing of the past.
\nMore patients going digital
\nMultinational consulting firm McKinsey & Company, in its \u201cHealthcare\u2019s digital future\u201d report published in July 2014, recognized that patients worldwide are even becoming more and more comfortable in using digital health care services. It advised that health care systems, payors, and providers should therefore go \u201call in\u201d on their digital strategies.
\nLocal key health players, both in public and private sectors, have been taking this suggestion to heart and have long deployed several technologies that are starting to make an impact.
\n\u201c[There already are] databases like Watching Over Mothers and Babies, [which] curates maternal and neonatal morbidity and mortality data; RxBox, a portable telehealth device [that] allows health care professionals in remote areas access to specialists by measuring patient vital signs and transmitting them wirelessly; [and] e-Hatid, an android-run application [that] allows health care professionals in [local government units] to access health information,\u201d Dr. Maria Minerva P. Calimag, immediate past president of the Philippine Medical Association, said in an e-mail.
\nShe added that many patients, without citing specific figures, have been benefited by these digital health initiatives.
\nThe government, through the Department of Health (DoH) and the Department of Science and Technology (DoST), has put in place the \u201cPhilippines eHealth Strategic Framework and Plan\u201d to serve as the road map for the adoption in health care of these digital technologies. The two government agencies also inked a Joint National Governance on e-Health to achieve the set outcomes of the e-Health framework.
\nIn implementing their goals, closer collaboration with private companies has been established.
\nCloud-based medical records allow easy access
\nIn 2010, DoH endorsed to the rural health units and municipal health offices in Iloilo and Cebu the cloud-based electronic medical record (EMR) system developed by Smart Communications, Inc.
\nSecured Health Information Network Exchange or SHINE, currently rebranded as SHINE OS+ to signify its open-source nature, is Smart Communications foray into digital health that can be used by health care providers. The company has recently partnered with the Ateneo Javascript Wireless Competency Center to further develop the software.
\nOffered for free and can be accessed in offline mode in case of weak mobile connections, the program has so far tallied 98,179 patient records and has benefited 518 end-users and 182 facilities in the provinces of Iloilo, Cebu, Bacolod, Rizal, and some parts of Metro Manila.
\nJill M. Lava, manager of Community Partnerships, Public Affairs Group of Smart Communications, believes the initiative has thus far attained its goal based on the patronage it has attracted.
\n\u201cIn my opinion, it has made significant impact to the smaller communities that have shifted from manual record-keeping of patients to the said cloud-based EMR that allowed automatic storage of information of its community members for easy access in times of emergencies, calamities, or theft,\u201d she said in a June interview. She added that it has also helped LGUs by providing them with speedier access to health data for the improvement of health conditions in their communities.
\nOne SHINE program partner concurs.
\nDr. Ianne Jireh Ramos-Ca\u00f1izares, municipal health officer of Samboan, Cebu under the Doctors to the Barrios program of DoH, recognizes the many advantages that SHINE has been able to provide her, particularly in efficiently tracking and monitoring her patients.
\n\u201cSHINE is indeed very useful. We\u2019ve been telling our patients about it and they, too, are amazed by its potentials,\u201d she said in a phone interview.
\nChallenges of digital health care
\nSHINE and the many other existing digital health innovations have made significant inroads in revolutionizing health care in the country but there\u2019s no denying that roadblocks exist.
\nDr. Ca\u00f1izares, for one, referred to the Philippine Health Information Exchange (PHIE) not being implemented yet.
\nPHIE, according to Dr. Calimag of PMA, is intended to archive big data on health in the country and will be made available for viewing by authorized health care providers. The memorandum of agreement for PHIE was signed in March last year through collaboration between DoST, the Philippine Council for Health Research and Development, DoH, the Philippine Health Insurance Commission, and the Information Communications and Technology Office of DoST.
\n\u201cThe initiative hopes to provide accurate and reliable real-time data that eliminates duplication and allows for standardization, which will serve the purpose of research for health policy generation and budget allocation especially for diseases with the highest burden. With the PHIE in place, patients can transfer from one hospital to another without having to bring hard copies of his laboratory results with him. Information systems in laboratories and pharmacies will communicate with electronic medical records in hospitals to avoid duplication of patient records,\u201d Dr. Calimag explained.
\nShe also cited that the implementing rules and regulations of the signed Joint Administrative Order on the Implementation of the PHIE and the Joint Administrative Order on the Privacy Implementation Guidelines are still being drafted. The National Telehealth Bill, which has been revised many times, is also pending in Senate and Congress.
\nSmart Communications\u2019 Ms. Lava also considered the lack of clear and solid government policies, guidelines, and protocols around e-Health as one of the challenges that hamper the mainstream use of digital technologies in health care.
\nApart from that, she added that, with SHINE, they still have to cope with technical illiteracy as there are doctors, particularly of the older generation, who are quite hesitant to learn new technology. The limited hardware and software infrastructure, including network, also remains one of their problems.
\nThe Philippines still has a long way to go toward achieving more efficient and effective health systems through digital health, but it is definitely off to a good start.
\nJennibeth B. Reforsado worked as a proofreader for 大象传媒 for three years. She is now a writer-in-training for the Special Features Section.
\n", "content_text": "By Jennibeth B. Reforsado\nCora, a midwife employed in a rural health unit, receives patients on regular days.\nBut for three days every week, she does the opposite: she travels to far-flung villages to check on those who need medical attention.\nMost of the time she has to deal with huge amounts of paperwork and occasionally gets frustrated by bureaucratic procedures involved in transferring patients to hospitals more equipped to treat them.\nCora\u2019s story is a reenactment of a narrative featured in a promotional short film produced by a telecommunications company for its digital health product.\nBased on real-life experiences, the film vividly depicts the regular challenges a rural health worker encounters in a traditional health care setting. However, with the country\u2019s rapidly increasing development and adoption of digital technologies in the medical field, this, hopefully, may soon be a thing of the past.\nMore patients going digital\nMultinational consulting firm McKinsey & Company, in its \u201cHealthcare\u2019s digital future\u201d report published in July 2014, recognized that patients worldwide are even becoming more and more comfortable in using digital health care services. It advised that health care systems, payors, and providers should therefore go \u201call in\u201d on their digital strategies.\nLocal key health players, both in public and private sectors, have been taking this suggestion to heart and have long deployed several technologies that are starting to make an impact.\n\u201c[There already are] databases like Watching Over Mothers and Babies, [which] curates maternal and neonatal morbidity and mortality data; RxBox, a portable telehealth device [that] allows health care professionals in remote areas access to specialists by measuring patient vital signs and transmitting them wirelessly; [and] e-Hatid, an android-run application [that] allows health care professionals in [local government units] to access health information,\u201d Dr. Maria Minerva P. Calimag, immediate past president of the Philippine Medical Association, said in an e-mail.\nShe added that many patients, without citing specific figures, have been benefited by these digital health initiatives.\nThe government, through the Department of Health (DoH) and the Department of Science and Technology (DoST), has put in place the \u201cPhilippines eHealth Strategic Framework and Plan\u201d to serve as the road map for the adoption in health care of these digital technologies. The two government agencies also inked a Joint National Governance on e-Health to achieve the set outcomes of the e-Health framework.\nIn implementing their goals, closer collaboration with private companies has been established.\nCloud-based medical records allow easy access\nIn 2010, DoH endorsed to the rural health units and municipal health offices in Iloilo and Cebu the cloud-based electronic medical record (EMR) system developed by Smart Communications, Inc.\nSecured Health Information Network Exchange or SHINE, currently rebranded as SHINE OS+ to signify its open-source nature, is Smart Communications foray into digital health that can be used by health care providers. The company has recently partnered with the Ateneo Javascript Wireless Competency Center to further develop the software.\nOffered for free and can be accessed in offline mode in case of weak mobile connections, the program has so far tallied 98,179 patient records and has benefited 518 end-users and 182 facilities in the provinces of Iloilo, Cebu, Bacolod, Rizal, and some parts of Metro Manila.\nJill M. Lava, manager of Community Partnerships, Public Affairs Group of Smart Communications, believes the initiative has thus far attained its goal based on the patronage it has attracted.\n\u201cIn my opinion, it has made significant impact to the smaller communities that have shifted from manual record-keeping of patients to the said cloud-based EMR that allowed automatic storage of information of its community members for easy access in times of emergencies, calamities, or theft,\u201d she said in a June interview. She added that it has also helped LGUs by providing them with speedier access to health data for the improvement of health conditions in their communities.\nOne SHINE program partner concurs.\nDr. Ianne Jireh Ramos-Ca\u00f1izares, municipal health officer of Samboan, Cebu under the Doctors to the Barrios program of DoH, recognizes the many advantages that SHINE has been able to provide her, particularly in efficiently tracking and monitoring her patients.\n\u201cSHINE is indeed very useful. We\u2019ve been telling our patients about it and they, too, are amazed by its potentials,\u201d she said in a phone interview.\nChallenges of digital health care\nSHINE and the many other existing digital health innovations have made significant inroads in revolutionizing health care in the country but there\u2019s no denying that roadblocks exist.\nDr. Ca\u00f1izares, for one, referred to the Philippine Health Information Exchange (PHIE) not being implemented yet.\nPHIE, according to Dr. Calimag of PMA, is intended to archive big data on health in the country and will be made available for viewing by authorized health care providers. The memorandum of agreement for PHIE was signed in March last year through collaboration between DoST, the Philippine Council for Health Research and Development, DoH, the Philippine Health Insurance Commission, and the Information Communications and Technology Office of DoST.\n\u201cThe initiative hopes to provide accurate and reliable real-time data that eliminates duplication and allows for standardization, which will serve the purpose of research for health policy generation and budget allocation especially for diseases with the highest burden. With the PHIE in place, patients can transfer from one hospital to another without having to bring hard copies of his laboratory results with him. Information systems in laboratories and pharmacies will communicate with electronic medical records in hospitals to avoid duplication of patient records,\u201d Dr. Calimag explained.\nShe also cited that the implementing rules and regulations of the signed Joint Administrative Order on the Implementation of the PHIE and the Joint Administrative Order on the Privacy Implementation Guidelines are still being drafted. The National Telehealth Bill, which has been revised many times, is also pending in Senate and Congress.\nSmart Communications\u2019 Ms. Lava also considered the lack of clear and solid government policies, guidelines, and protocols around e-Health as one of the challenges that hamper the mainstream use of digital technologies in health care.\nApart from that, she added that, with SHINE, they still have to cope with technical illiteracy as there are doctors, particularly of the older generation, who are quite hesitant to learn new technology. The limited hardware and software infrastructure, including network, also remains one of their problems.\nThe Philippines still has a long way to go toward achieving more efficient and effective health systems through digital health, but it is definitely off to a good start.\nJennibeth B. Reforsado worked as a proofreader for 大象传媒 for three years. She is now a writer-in-training for the Special Features Section.", "date_published": "2016-07-25T13:22:25+08:00", "date_modified": "2016-07-25T13:22:25+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "tags": [ "Disruption" ] } ] }