Zoom booms as teleconferencing company profits from coronavirus crisis | Zoom – Blog – 10 minute

The teleconferencing company Zoom has seen a massive increase in profits and has doubled its annual sales forecast, driven by a surge in users as more people work from home and connect with friends online during the coronavirus crisis. 
The once-obscure Zoom Video Communications, which has rapidly emerged as the latest Silicon Valley gold mine, released financial results on Tuesday showing the astronomical growth that has turned it into a stock market star.
Zoom’s boom has come despite privacy problems that enabled outsiders to make uninvited and sometimes crude appearances during other peoples video conferences. 
Zoom’s revenue for its fiscal first-quarter between February and April more than doubled from the same time last year to $328m, turning a profit of $27m compared with $198,000 a year ago.
The numbers exceeded analysts already heightened expectations, providing another lift to a rocketing stock that has more than tripled in price so far this year. After a big run-up leading up to Tuesday’s highly anticipated announcement, Zoom’s stock gained nearly 3% in extended trading to $213.60 – more than five times the company’s initial public offering price of $36 less than 14 months ago. 
The surge has left Zoom with a market value of about $59bn greater than the combined market values of the four largest US airlines, which have seen their businesses hammered by the coronavirus outbreak that has dramatically curtailed travel.
“We were humbled by the accelerated adoption of the Zoom platform around the globe,” said boss Eric Yuan, who co-founded the company nine years ago.
In a sign that its growth is not expected to be short lived, Zoom forecast revenue of roughly $500m for its current quarter ending in July, more than quadrupling from the same time last year. For its full fiscal year, Zoom now expects revenue of about $1.8bn, nearly tripling in a year.
Security issues prompted some schools to stop using Zoom for online classes that have become widespread since February, although the company’s efforts to introduce more security protection has brought some back to the service. More than 100,000 schools worldwide are now using Zoom for online classes, according to the company.
But the once-weak privacy controls also helped make Zoom extremely easy to use, one of the reasons it became such a popular way to hold online classes, business meetings and virtual cocktail hours after most of the US began ordering people to stay at home in effort to reduce the spread of the novel coronavirus that causes Covid-19.
Zoom also offers a free version of its service, another factor in its popularity at a time when about 40 million people in the US have lost their jobs since mid-March, raising the specter of the worst economic downturn since the Great Depression of the 1930s.
The San Jose, California-based company has always made most of its money from companies that subscribe to a more sophisticated version of its service that traditionally has been used for business meetings among employees working in offices far apart from each other.
But the pandemic-driven shutdown turned Zoom into a tool for employees who once worked alongside each other, but have been doing their jobs from home during the past few months.
Zoom ended April with 265,400 corporate customers with at least 10 employees, more than quadrupling from the same time last year.
Although Zoom remains focused on servicing its corporate customers, Yuan is hoping to figure out ways to make money from the all the socialising and education taking place on the service, too. Some analysts have speculated that Zoom may eventually show ads on the free version of Zoom, although the company has not given any indication it will do that. 

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StorMagic Acquires Encryption Key Management Company, KeyNexus | Tempemail – Blog – 10 minute

Sourced from CSO.

Drive Control Corporation (DCC), exclusive StorMagic distributor for the SA and SADC region, has announced StorMagic’s acquisition of KeyNexus, an innovator and designer of encryption key management solutions.
StorMagic now extends its portfolio to the channel, meeting organisations’ datacentre and cloud security requirements. The KeyNexus acquisition sees StorMagic bringing the edge and the core closer together, delivering a robust enterprise key management offering.
To this end, StorMagic has announced the immediate availability SvKMS, the company’s first enterprise-grade virtualised key management solution for any application that requires encryption in any location, be it the edge, datacentre or the cloud.
“StorMagic SvKMS is an affordable, efficient and robust centralised key management system that meets the needs of today’s hybrid, multi-cloud environments,” explains Raul Del Fabbro, Enterprise Solutions Division Manager at DCC.

“Thanks to StorMagic’s acquisition of KeyNexus, the company is taking a leadership position, eliminating the pain of encryption for customers by delivering enterprise key management solutions such as the SvKMS.  In turn, this will allow our channel partners to offer a comprehensive, virtualised solution to their customers.”
According to Gartner’s recent: How to Overcome Four Major Challenges in Edge Computing report, with processing and storage now placed outside traditional information security visibility and control, edge computing creates new security challenges that need to be addressed in depth.
StorMagic believes its modern approach to key management helps solve these edge computing security challenges by allowing users to run their systems as virtual machines anywhere while also securely managing keys for all their edge sites.

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Agents at Future Generali India Life Insurance Company Limited equipped with a 360 integrated digital platform to combat COVID 19 situation- Tempemail – Blog – 10 minute

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In keeping with the current global COVID19 crisis and the subsequent announcement of social distancing by the government that called for a quick action on digital adoption, Future Generali India Life Insurance Company Ltd was swift to respond to the call. They developed a 360-degree digital delivery platform helping their agents all over India to carry out everyday business activities, without having to move out of their current locations. The digital solution integrates all existing digital platforms used by agents at one place. Hence it simplifies the whole process making it smarter to work with.
Commenting on the introduction of the platform,Mr. Subhasish Acharya, Executive Vice President & Head – Proprietary Channels, Future Generali India Life Insurance Company,said, “The unprecedented global COVID 19 crisis caught businesses off guard and disrupted our routine. The new normal calls for businesses to adapt and adopt digital solutions at a faster pace. FGILI is one of the few insurance players who worked on a solution using agile methodology and was quick to go to the market.  With our integrated online platform for distributors, we are better off now to adapt to the new normal.”
What are the digital tools made available to agents on the integrated platform?
In the life insurance industry, bringing in new policy holders is either a physical process or a mix of physical and digital process. The COVID19 disruption entirely disabled the physical process. FGILI’s integrated digital platform takes the entire process online. From recruiting agents to identifying leads, to generating interest, to calling clients, to having online conference or video chats with customers, to finally issuing a policy document – all these activities can be done online at one place.

Connected Agent: One of the unique things FGILI did was to bring all their distributors and agents online by giving them ‘Connected Agent’, a personalized URL in the FGILI domain. This platform enables them to connect with their customers and have a digital footprint. It empowers them with several tools to conduct everyday business with customers. Distributors can manage email & SMS marketing initiatives, sync mobile phone contacts, and use them for marketing as well as track and analyse traffic on their personalised website. The platform can be synced to latest devices while also having wearable compatibility.
Online Recruitment Tool (ORT): ORT is a real time state of the art digital tool that can recruit agents and distributers online. This tool undertakes various functions like receiving initial interest from the prospect while giving them detailed information about FGILI as required to know. Some of the core features offered on this tool are

Income calculator for Distributors
Dashboard for recruiters and their supervisors / mangers
Quick, easy, and mobile compatible journey for applicants
Workflow approach to track each application
Approval prompts for each level of hierarchical approvals
Simplified online processes for exam and training
An online content library
On the fly code creation and disbursement of the Offer / Appointment Letter

91.27% Front line Sales teams have adopted it this tool in the company while 77% of them have successfully hired distributors through this tool in the month of April 2020.

FG Infinity: This platform is a 360-degree sales management tool that gives flexibility to an agent to log-in a new business from anywhere and at any time. This solution is device agnostic. The Agency channel and the Direct channel teams have logged in 87% and 83% policies through this platform respectively.
FG One: This is a web-based dashboard that gives real time and all necessary business-related MIS on the go. Within a month of launch, FGILI had 398 Distributors who engaged with the FG One platform and continue to do so regularly.
FG PLVC: Pre-Login Verification code is an app that verifies a new customer at the time of registration of a new policy. The agent can virtually assist the customer to complete verification process. Apart from elimination of fraudulent proposals, it also helps in making the customer aware about the policy and its terms and conditions. FGILI’s Agency channel team has demonstrated a seamless adoption of approximately 51%, while for the Direct channel team it is approximately at 57%.
FG Smart Academy: is an Online Training Platform developed to train the sales force on a plethora of topics ranging from products, processes, digital tools, and current affairs. This platform has succeeded in raising the Front Line Sales team engagement by 97%, post the launch in April. The company has succeeded in completing almost 60000 man hours of online training from March 24, 2020 to April 24, 2020, covering 14,000 distributors and 1,600 salespeople. In addition to ‘FG Smart Academy’, the company also conducts online interactive sessions on ‘MS Teams’ which influences the sales journey in the new Digital era.

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Vic Education IT manager misused position, directed $14m to own company – Strategy- Tempemail – Blog – 10 minute

Victoria’s anti-corruption corruption watchdog has found a former Department of Education and Training contractor misused his position when almost $14 million-worth of work was sourced from a company he owned over more than a decade.
The Independent Broad-based Anti-corruption Commission today released its Operation Betka report [PDF] into the conduct of an unnamed male senior project manager following a three-year investigation.
It is the latest incident of “serious corruption conduct” to be investigated at the department in recent years, and follows the 2014 Ultranet scandal that saw senior officials and software salespeople use the project as a testbed for software commercialisation.
The investigation probed allegations the project manager used his position in the department’s IT division to provide almost $14 million in “contracted staffing resources” to an IT consultancy he owned between 2003 and 2016.
It spawned from an internal audit by the department into a possible overspend on its Edugate extension project, which the project manager had provided resources for, and a separate complaint, both of which occurred in 2016.
IBAC found the project manager, who had worked in various IT management roles in the department over more than a decade and was known as the “go-to-guy” by his managers, misused his position to “further his private business interests”.
“This involved misusing departmental information, influencing processes for procuring contracted staffing services, and circumventing those processes to obtain an unfair advantage over other IT contractor suppliers,” the report states.
However, IBAC said this only “gave rise to a conflict of interest with his public duties”, as the project manager had “verbally and informally declared his conflict of interest” to some managers, including his line manager.
The lack of available evidence meant that the commission was unable to secure criminal charges. 
While it was unable to substantiate allegations around a failure to declare a conflict of interest in the company, IBAC did find that the project manager failed to manage his conflicts of interest.
“When situations arose where there was an actual, potential or perceived conflict of interest, he did not further disclose his interest with Company A,” the report states. 
“This meant departmental staff responsible for procurement were unaware of the potential risks the project manager’s conflicts of interest presented and were unable to manage those risks.”
The commission said the contractor failed to document his conflict of interest or comply with a verbal agreement with IT division members not to source contractors from his company for projects he was responsible for or influence the engagement process.
“The project manager subsequently worked alongside Company A contractors on departmental projects in breach of his verbal agreement,” the report states.
“He used his position to influence the contractual relationship between Company A and the department.”
The report is also scathing of the department, which it said “failed to detect and prevent the project manager’s activities”, despite having developed policies, systems and controls to manage such issues.
“Managers in the public sector have a responsibility to develop effective strategies to manage conflicts of interest and to monitor these conflicts to ensure the integrity of processes, including procurement and recruitment, is not undermined,” the report said.
“IBAC’s investigation identified that the project manager’s supervisors at the department did not consistently do this.
“The failures of supervisors at the Department to effectively address the project manager’s clear conflict of interest constituted a significant institutional failing. 
“Had these supervisors developed and implemented a plan to manage the Project Manager’s conflict of interest, he would not have been able to improperly influence the Department’s procurement processes for his own benefit.”
Some of this stemmed from poor record keeping when suspicions were raised about the project management, as well as a failure to respond to complaints, which IBAC described as “missed opportunities to effectively deal with the project manager’s conflict of interest”. 
The department – like many other other government agencies – was also found to have a “culture of relying on IT consultants”, which were “hired on a temporary basis under tight timeframes within a busy a demanding environment”.
“Within this environment, managers did not always take the time to follow the proper process by developing a business case and using the eServices Register to contract for the delivery of specific IT projects,” the report states.
“IT contractors often had their contracts repeatedly renewed. It was not uncommon for individuals to be contracted for more than five years.”
IBAC commissioner Robert Redlich QC said the investigation “exposed significant organisational failing in how conflicts of interest were managed by the department”, and was a “timely alert” for other agencies.
He said the actions of the project manager were enabled by the department supervisors, who failed to “properly manage the conflict of interest” and allowed the him to “bypass proper processes in order to obtain an unfair advantage for his company”.
“Operation Betka found the failures of those supervising this project manager were striking,” he said.
“Managers were aware of the project manager’s conflict of interest yet they failed to take meaningful steps to remove that conflict or to effectively manage his conduct.” 
“The project manager was able to improperly influence the Department’s procurement processes for his own benefit over an extended period. 
“This could have been avoided had his supervisors implemented and enforced a plan to manage his conflict of interest, as they should have done.
“Those in positions of management and supervision are obligated to ensure compliance with all public sector processes and standards. 
“They must always be vigilant in addressing circumstances where conflicts of interest are likely to arise.”
IBAC said the department has since “taken steps to strengthen how conflicts of interest are identified, recorded and managed” by refreshing its conflict of interest framework and introducing a central register.
It has also made a series of other recommendations for the department to improve the detection and management conflict of interest and strengthen procurement and recruitment processes.
The department is required to report back to IBAC by November 2020.

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Samsung to support 5 new startups by company workers- Tempemail – Blog – 10 minute

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South Korean tech giant Samsung Electronics has announced to support five startups that were created by company employees as part of the company’s C-Lab Inside in-house incubation program.
First startup is Blockbuster, a video editing application that allows content creators to easily apply computer graphics (CG) and 3D effects to videos with their smartphones.
Second is Hyler, it is a smart highlighter that allows analog text to be digitized and transferred to mobile devices.
Third startup is Haxby, a smart study note service that records incorrect answers from workbooks and recommends worksheets based on the learner’s ability level, said the company.
Fourth one is SunnyFive, a window-shaped lighting device that produces artificial sunlight. Helps users synthesize vitamin D while they are indoors without having to worry about skin aging or sunburn
Last one is RootSensor – a new type of sensor that records daily UV exposure and utilizes its wide incident angle to minimize detection loss.
Started in December 2012, C-Lab Inside nurtures employees’ innovative ideas while instilling a corporate culture in which creativity is at the fore.
“To date, 163 employees have established 45 startups since the inception of the C-Lab programme. Not only have these companies raised $45 million in funding over the years, but their value has more than tripled compared to the time at which they were spun off,” the company said.

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Data and Analytics Technology Company Flotek Acquires JP3- Tempemail – Blog – 10 minute

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Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) announced today it has acquired 100% ownership of JP3 Measurement, LLC (“JP3”), a privately held leading data and analytics technology company, in a cash-and-stock transaction. The transaction is valued at approximately $34.4 million, comprised of $25 million in cash and 11.5 million shares in Flotek common stock, with the assumption of $1.3MM of debt and an additional $5 million earn-out based on appreciation of Flotek’s share price.
JP3’s innovative, real-time data platforms combine the energy industry’s only field-deployable, inline optical analyzer with proprietary cloud visualization and analytics, to radically increase processing efficiencies and valuation of natural gas, crude oil and refined fuels. The transaction positions Flotek for accelerated growth and diversifies the Company’s business across all segments of the hydrocarbon value chain, while enhancing existing chemistry applications and broadening its customer reach across the midstream and downstream sectors.
John W. Gibson, Jr., Chairman, President, and Chief Executive Officer of Flotek stated: “This market has created such chaos and uncertainty that numerous growth opportunities – both organic and inorganic – have emerged. We have been disciplined in vetting those opportunities with a desire to reduce our dependence on rig count and the US unconventional market, while establishing an offering in the digital transformation market. With the acquisition of JP3, we are able to diversify our revenue stream and better serve our customers amidst accelerating digital transformation in the energy industry. The estimated $1 billion addressable market in the US alone provides significant revenue growth opportunities.
“Together with JP3, we have a shared vision for being the platform that optimizes profitability from the reservoir to a hydrocarbon molecule’s final destination. The automation of real-time analysis of flowing products brings tremendous value to the midstream energy sector and in the delivery of refined fuels. The more we know about our hydrocarbons, the more efficient, clean, safe and profitable we become as an industry,” continued Gibson.
JP3 President Matt Thomas stated, “Our outstanding team at JP3 has built a technology platform that brings significant increases in profitability to over sixty clients by maximizing the value of their hydrocarbons through our real-time analysis of flowing products and our cloud-based monitoring solutions. Flotek’s strong liquidity position can fuel growth opportunities by accelerating our Data-as-a-Service (DaaS) product offerings and expanding our reach into international markets. The energy industry is in a state of transformation, and we look forward to helping companies capture cost savings and generate higher revenues through the application of our proprietary technology.”
The acquisition offers compelling strategic and financial benefits for Flotek by:

Adding high growth business with proven technology platform that supports digital transformation in the energy industry;
Providing clear runway into $1 billion addressable market with significant international opportunity utilizing Flotek’s global reach;
Building on JP3’s strong value proposition for customers, with the automation of real-time analysis driving increased profitability for customers even in a weak oil market;
Opening up significant downstream distribution opportunity highlighted by the recently-announced joint marketing agreement between JP3 and Phillips 66;
Creating opportunity for recurring revenue at high margins by accelerating JP3’s continued transition to a DaaS business model;
Diversifying Flotek’s business across all segments of the hydrocarbon value chain, while enhancing existing chemistry applications and broadening its customer reach across the midstream and downstream sectors.

In conjunction with the transaction, Flotek will create a new Analysis & Data division, which will be led by Thomas as Flotek Executive Vice President, in addition to his continuing role as President of JP3. Additionally, JP3’s Chief Data Officer James Dixson will serve as Senior Vice President of the Analysis & Data Division. JP3 will continue to be headquartered in Austin, Texas.
As an inducement to join the Company and to closely align interests with the Company’s shareholders, Thomas has been granted 507,000 restricted stock awards (RSAs) that will vest over three years and performance-based options representing approximately 461,000 shares of the Company that will vest based on achievement of the closing stock price for the Company’s common stock for a 20 consecutive trading-day period, with full vesting at closing prices at or above $7.00 per share for a 20 consecutive trading-day period.  The options have an exercise price equal to the closing price of the Company’s shares on the date of grant. As a part of the inducement plan, the Company expects to offer equity – including RSAs and performance-based options – to other JP3 leaders and employees representing no more than 815,000 shares of the Company.
As a part of the transaction, the sellers of JP3 have the right to nominate one member to Flotek’s Board of Directors, subject to approval by the Company’s Governance & Nominating Committee.
Tudor, Pickering, Holt & Co. (“TPH”) served as financial advisor to JP3 related to the transac

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Google announces company holiday on May 22 to stem virus burnout – Benchmarking Change- Tempemail – Blog – 10 minute

Alphabet Inc’s Google said on Friday it has asked employees to take a day off on May 22, to address work-from-home-related burnout during the coronavirus pandemic.
Chief Executive Officer Sundar Pichai announced the move in a memo to employees on late Thursday, which was first reported by CNBC.
Google said it would begin reopening more offices globally as early as June, but most Google employees would likely work from home until the end of this year.
Facebook Inc also said on Friday it would allow workers who are able to work remotely to do so until the end of 2020.
The virus, which has infected more than 3.9 million people globally so far, has forced strict lockdowns in most countries and changed the way businesses function, with work from home emerging as the new norm.
 

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StorEx expands its African footprint as an Evernex company | Tempemail – Blog – 10 minute

The recent acquisition of StorEx, a leading supplier of Third-Party Maintenance (TPM) for enterprise-sized organisations, by Evernex, a leading international provider of third-party maintenance services for data centre infrastructure, has enabled the locally built specialist to significantly expand its African footprint and operations.
Jan Beukes, founder and CEO of StorEx, says that the company will retain its local branding, level 1 B-BBEE status and South African-based team, as they continue to drive TPM awareness and adoption across the African continent.
“As an Evernex company, StorEx will expand its industry-leading solutions and services throughout Eastern and Southern Africa with offices in Algeria, Egypt, Kenya, Morocco and Nigeria. There is also a focused plan to expand our presence across the continent. We are excited about the new possibilities as a result of the acquisition while remaining steadfast and focused on providing the same level of service our local clients have come to expect from StorEx.”
The risk of moving from OEM support to a full TPM or hybrid maintenance solution has all but disappeared according to a report published by Gartner. It is now better understood that third-party maintenance providers can supply the best solutions when it comes to combining cost savings with optimal results. Rising software maintenance costs are also driving sourcing, procurement and vendor management leaders to explore the independent third-party maintenance market.

With more than a decade of TPM experience, Beukes says that the company’s ability to provide industry-leading services to multi-nationals has increased ten-fold.
“As an Evernex company, StorEx now provides support in over 160 countries, has more than 10 global call centres, online experts and access to over 330 stocking locations worldwide, including the largest warehouse facility of spare parts in Europe.”
As a combined force with Evernex, Beukes says he is excited about the future growth prospects of StorEx. Collectively, the group services more than 220 000 IT infrastructures globally and has over 200 highly specialised engineers.
“Combining our businesses will strengthen our position in Africa and enable us to grow our portfolio of blue-chip clients.”
Beukes says that while it is business as usual for StorEx, the future is an exciting one with many new prospects and project opportunities.

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Zalora says it is a ‘data first, then fashion’ company- Tempemail – Blog – 10 minute

E-commerce fashion brand Zalora has launched an insights platform to help brand partners understand more about what people are buying, and why.
According to chief commercial officer Giulio Xiloyannis, the pace of change in the fashion market is so fast that more quality data is essential for brands to make decisions. The South East Asia company houses over 3,000 brands on its website, including global brands like Adidas, Nike and Abercrombie & Fitch.
The Trender platform is the latest iteration of Zalora’s ​‘data first, then fashion’ strategy.
“Through these valued brand partnerships, we have observed that brands have begun paying more attention to customer transaction data as a way of staying ahead of trends and adapting their offerings to meet customers’ evolving needs and preferences.
“As a company that leverages data analytics in the development of our own brand strategies, we thought it would be a timely opportunity to tap on our strong culture of innovation and launch a data-solutions service to help our partner brands in the market better adapt and meet customer needs,” explains Xiloyannis.
He says the launch of Trender last week was the first time it has opened up the data tools it uses itself, to brand partners.
“In today’s world, the more flexible and adaptable brands are in their offerings, the better chance they have in attracting and retaining customers. Any lag time between identifying a new trend and curating the right strategies to match it can place brands at a disadvantage.”
The platform allows any brand on the Zalora platform to find user insights which can help brands make decisions on marketing, merchandising, design and product development. Zalora says brands won’t be able to specifically look at another brand’s sales, though they will have access to users’ behavioural and demographic data. It also has a geolocation data layer, which it believes can help inform brands’ real estate decisions, as well as e-commerce decisions.

Trender has both a free version, which hands users a PDF report, and a premium level which gives users access to the dashboard. According to Xiloyannis, Zalora hopes that Trender will help brands make its platform work smarter for them, rather than serve as a cash cow product.
“Trender does come at an additional charge, and this charge will be a new revenue stream for Zalora, but a good part of it will go to covering data hosting costs, development costs and the licensing of the Tableau-powered dashboard which enhances the UI/UX of the tool for our partners. Additionally, Trender is being offered free of charge for the entirety of Q2 to help brands gain the most insights, at no cost, when they are most needed,” he explains.
With Coronavirus currently forcing many brands to quickly change strategies, greater insights into e-commerce audiences are no doubt in high demand.
“We believe that the value of real-time data is directly proportional to demand volatility and generally to ‘the speed at which things are changing’, and I think we can all say that demand has never been as volatile as it is now. The Covid-19 pandemic has certainly had a significant impact on e-commerce… brands face a whole host of challenges – from difficulties in choosing the most effective marketing and advertising approach, to deciding which product they could or should promote. Having access to data and obtaining insights has become all the more valuable in helping brands navigate customer preferences and business priorities, and adapt their strategies accordingly,” he says.
Xiloyannis explains that Zalora has created a specialised dashboard for Covid-19 in recognition of its unique circumstances. “This includes shedding light on the shift from mobile to desktop, as more people stay home due to tighter safety measures, as well as the change in shopping behaviour pre- and post-Covid-19 by age group, category, price point and discount propensity. We have used these very same data and dashboards to help us re-adapt our strategies in the last few weeks, so we know it to be valuable and, above all, actionable.”
With Trender not necessarily being about driving huge profits for the company, it is instead a part of a larger brand mission to be the most innovative e-commerce brand in the market. Its ‘data first, then fashion’ mantra led the company to launch the Data Science Innovation lab, which Zalora says produced the insights that led to its ‘Shop the Look’ and ‘Follow the Brand’ features. The two features help give users style advice and promote recommendations.
“We have also marked many firsts in the industry, with the introduction of our visual search feature, and the launch of our shoppable live stream and shoppable styling videos on our app and website,” claims Xiloyannis.
Shoppable live stream videos are one of the biggest trends in e-commerce in South East Asia. Pomelo chief marketing officer (CMO) Jean Thomas and Lazada CMO Michelle Yip recently spoke to Tempemail about their shoppable live stream services as part of Tempemail’s Digital Transformation Festival.
Xiloyannis says Zalora’s aspiration to break ground has also driven decisions to be ahead of the industry on sustainability issues.
“Our desire to innovate has also enabled us to be a pioneer in the e-commerce industry. Apart from the recent launch of Trender, we have also embraced sustainability as one of our key areas of focus in the coming years. We recognise the increasing demand amongst consumers for sustainable products and offerings, and have partnered with luxury marketplace reseller Style Tribute in Singapore and Malaysia to introduce a ‘Pre-loved’ category, where customers can purchase pre-loved luxury items on Zalora’s website and mobile app,” he says.
The real reason for the focus on data, over fashion, according to Xiloyannis, is that it helps the company to be customer-first, something that it believes is crucial in times of ‘demand volatility’.
“Technology and data play central roles in our company. They are integrated into all aspects of our operations. Ultimately, our success lies in our data-driven strategies, and we will continue to leverage this to better serve our customers across the region,” he says.

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South African TPM company, Storex acquired by Evernex | Tempemail – Blog – 10 minute

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Storex, a leading supplier of Third Party Maintenance for enterprise-sized organisations, has been acquired by Evernex, a leading international provider of third-party maintenance (“TPM”) services for data centre infrastructure. Evernex is a 3i company, having sold controlling interest to the investment organisation in October 2019.

Storex maintains data centre hardware and critical IT assets, such as servers, storage and business network equipment with multi-OEM expertise. It’s level 1 B-BBEE status allows premium access to large South African corporates. Through its blue-chip clients, Storex serves banks, OEMs and telecommunications companies in South Africa, Kenya and Turkey, while also considering expansion into the United Arab Emirates.
The acquisition gives Evernex a pool of local resources to grow its presence in South Africa, combined with the expertise of the Storex CEO and founder, Jan Beukes, who will remain with the business; “Both organisations have highly complementary capabilities and are well-regarded in the African market. It a strong fit between two highly compatible businesses. We look forward to working closely with Evernex to build a strong international base.”

Stanislas Pilot, President and CEO, Mohamed Bella, CMO and EVP MEA, Evernex, added: “We are delighted to be partnering with Storex. Combining our businesses will strengthen our position in Eastern and Southern Africa and enable us to grow our portfolio of blue-chip clients. Together with Storex, we aim to provide the best services to our customers, in South Africa and globally.”
Frédéric Chiche and Marc Ohayon, 3i France concluded: “Part of the rationale for investing in Evernex last year was to support its consolidation of the market and we believe this acquisition represents a material step towards creating a global market leader in the TPM space.”
3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200,000 IT systems in 160 countries and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. Going forward, additional bolt-on acquisitions are expected to remain a key value-creation driver for Evernex and 3i.
Staff writer

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