May 26, 2018, 4:11 am
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1 Philippine Peso = 0.06987 UAE Dirham
1 Philippine Peso = 2.04394 Albanian Lek
1 Philippine Peso = 0.03405 Neth Antilles Guilder
1 Philippine Peso = 0.46707 Argentine Peso
1 Philippine Peso = 0.02507 Australian Dollar
1 Philippine Peso = 0.03386 Aruba Florin
1 Philippine Peso = 0.03804 Barbados Dollar
1 Philippine Peso = 1.58684 Bangladesh Taka
1 Philippine Peso = 0.03178 Bulgarian Lev
1 Philippine Peso = 0.00718 Bahraini Dinar
1 Philippine Peso = 33.30759 Burundi Franc
1 Philippine Peso = 0.01902 Bermuda Dollar
1 Philippine Peso = 0.02521 Brunei Dollar
1 Philippine Peso = 0.13049 Bolivian Boliviano
1 Philippine Peso = 0.06941 Brazilian Real
1 Philippine Peso = 0.01902 Bahamian Dollar
1 Philippine Peso = 1.2997 Bhutan Ngultrum
1 Philippine Peso = 0.18862 Botswana Pula
1 Philippine Peso = 380.82557 Belarus Ruble
1 Philippine Peso = 0.038 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01888 Swiss Franc
1 Philippine Peso = 11.92087 Chilean Peso
1 Philippine Peso = 0.1215 Chinese Yuan
1 Philippine Peso = 54.23245 Colombian Peso
1 Philippine Peso = 10.69241 Costa Rica Colon
1 Philippine Peso = 0.01902 Cuban Peso
1 Philippine Peso = 1.79018 Cape Verde Escudo
1 Philippine Peso = 0.41871 Czech Koruna
1 Philippine Peso = 3.37645 Djibouti Franc
1 Philippine Peso = 0.12092 Danish Krone
1 Philippine Peso = 0.9416 Dominican Peso
1 Philippine Peso = 2.20987 Algerian Dinar
1 Philippine Peso = 0.25394 Estonian Kroon
1 Philippine Peso = 0.33993 Egyptian Pound
1 Philippine Peso = 0.51779 Ethiopian Birr
1 Philippine Peso = 0.01623 Euro
1 Philippine Peso = 0.03907 Fiji Dollar
1 Philippine Peso = 0.01422 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08823 Ghanaian Cedi
1 Philippine Peso = 0.89024 Gambian Dalasi
1 Philippine Peso = 171.23835 Guinea Franc
1 Philippine Peso = 0.13955 Guatemala Quetzal
1 Philippine Peso = 3.93875 Guyana Dollar
1 Philippine Peso = 0.14924 Hong Kong Dollar
1 Philippine Peso = 0.45305 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.23264 Haiti Gourde
1 Philippine Peso = 5.18261 Hungarian Forint
1 Philippine Peso = 268.49914 Indonesian Rupiah
1 Philippine Peso = 0.06761 Israeli Shekel
1 Philippine Peso = 1.28921 Indian Rupee
1 Philippine Peso = 22.52235 Iraqi Dinar
1 Philippine Peso = 800.64676 Iran Rial
1 Philippine Peso = 2.00476 Iceland Krona
1 Philippine Peso = 2.38368 Jamaican Dollar
1 Philippine Peso = 0.01348 Jordanian Dinar
1 Philippine Peso = 2.08195 Japanese Yen
1 Philippine Peso = 1.91839 Kenyan Shilling
1 Philippine Peso = 1.2975 Kyrgyzstan Som
1 Philippine Peso = 77.23036 Cambodia Riel
1 Philippine Peso = 7.96595 Comoros Franc
1 Philippine Peso = 17.12003 North Korean Won
1 Philippine Peso = 20.46376 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.0156 Cayman Islands Dollar
1 Philippine Peso = 6.24805 Kazakhstan Tenge
1 Philippine Peso = 158.41735 Lao Kip
1 Philippine Peso = 28.6285 Lebanese Pound
1 Philippine Peso = 3.00552 Sri Lanka Rupee
1 Philippine Peso = 2.59102 Liberian Dollar
1 Philippine Peso = 0.23569 Lesotho Loti
1 Philippine Peso = 0.05799 Lithuanian Lita
1 Philippine Peso = 0.0118 Latvian Lat
1 Philippine Peso = 0.02586 Libyan Dinar
1 Philippine Peso = 0.18008 Moroccan Dirham
1 Philippine Peso = 0.31929 Moldovan Leu
1 Philippine Peso = 0.99391 Macedonian Denar
1 Philippine Peso = 25.77516 Myanmar Kyat
1 Philippine Peso = 45.76412 Mongolian Tugrik
1 Philippine Peso = 0.15373 Macau Pataca
1 Philippine Peso = 6.73388 Mauritania Ougulya
1 Philippine Peso = 0.65627 Mauritius Rupee
1 Philippine Peso = 0.29618 Maldives Rufiyaa
1 Philippine Peso = 13.63553 Malawi Kwacha
1 Philippine Peso = 0.37196 Mexican Peso
1 Philippine Peso = 0.07566 Malaysian Ringgit
1 Philippine Peso = 0.23683 Namibian Dollar
1 Philippine Peso = 6.82899 Nigerian Naira
1 Philippine Peso = 0.59717 Nicaragua Cordoba
1 Philippine Peso = 0.15404 Norwegian Krone
1 Philippine Peso = 2.06962 Nepalese Rupee
1 Philippine Peso = 0.02745 New Zealand Dollar
1 Philippine Peso = 0.00732 Omani Rial
1 Philippine Peso = 0.01902 Panama Balboa
1 Philippine Peso = 0.0621 Peruvian Nuevo Sol
1 Philippine Peso = 0.06201 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.19897 Pakistani Rupee
1 Philippine Peso = 0.06975 Polish Zloty
1 Philippine Peso = 108.10348 Paraguayan Guarani
1 Philippine Peso = 0.06924 Qatar Rial
1 Philippine Peso = 0.0751 Romanian New Leu
1 Philippine Peso = 1.17631 Russian Rouble
1 Philippine Peso = 16.13468 Rwanda Franc
1 Philippine Peso = 0.07134 Saudi Arabian Riyal
1 Philippine Peso = 0.15092 Solomon Islands Dollar
1 Philippine Peso = 0.25547 Seychelles Rupee
1 Philippine Peso = 0.34155 Sudanese Pound
1 Philippine Peso = 0.16566 Swedish Krona
1 Philippine Peso = 0.02546 Singapore Dollar
1 Philippine Peso = 0.01422 St Helena Pound
1 Philippine Peso = 0.42241 Slovak Koruna
1 Philippine Peso = 149.32471 Sierra Leone Leone
1 Philippine Peso = 10.69051 Somali Shilling
1 Philippine Peso = 397.78391 Sao Tome Dobra
1 Philippine Peso = 0.16644 El Salvador Colon
1 Philippine Peso = 9.79608 Syrian Pound
1 Philippine Peso = 0.23678 Swaziland Lilageni
1 Philippine Peso = 0.60662 Thai Baht
1 Philippine Peso = 0.0483 Tunisian Dinar
1 Philippine Peso = 0.04363 Tongan paʻanga
1 Philippine Peso = 0.08961 Turkish Lira
1 Philippine Peso = 0.1286 Trinidad Tobago Dollar
1 Philippine Peso = 0.56886 Taiwan Dollar
1 Philippine Peso = 43.27563 Tanzanian Shilling
1 Philippine Peso = 0.49705 Ukraine Hryvnia
1 Philippine Peso = 71.0291 Ugandan Shilling
1 Philippine Peso = 0.01902 United States Dollar
1 Philippine Peso = 0.5933 Uruguayan New Peso
1 Philippine Peso = 151.83565 Uzbekistan Sum
1 Philippine Peso = 1494.25528 Venezuelan Bolivar
1 Philippine Peso = 433.30797 Vietnam Dong
1 Philippine Peso = 2.03595 Vanuatu Vatu
1 Philippine Peso = 0.04914 Samoa Tala
1 Philippine Peso = 10.63667 CFA Franc (BEAC)
1 Philippine Peso = 0.05136 East Caribbean Dollar
1 Philippine Peso = 10.63667 CFA Franc (BCEAO)
1 Philippine Peso = 1.926 Pacific Franc
1 Philippine Peso = 4.75366 Yemen Riyal
1 Philippine Peso = 0.23681 South African Rand
1 Philippine Peso = 98.716 Zambian Kwacha
1 Philippine Peso = 6.88415 Zimbabwe dollar

ENTERPRISE TECHNOLOGY: Digital innovation in family businesses will drive DX in SEA

ASIAN family businesses have common features. A patriarch or matriarch, who started a business and made it grow. Their children becoming part of that business from a young age, as say helpers, storekeepers or accountants. This is then supported by a strong assimilation and infusion of traditional family values. This is to ensure some sort of corporate structure within the family business. At a certain age or point in the business, there is succession and acceptance of rank. Then the children, wanting to develop and grow the business the way they know how will look for ways to innovate. 

In the recent launch of the SAP Leonardo Center in Singapore, the German technology company foresees the potential of Southeast Asian (SEA) family businesses disrupting traditional industries and sectors in the region. This will drive economic growth, but not before these companies embrace digital innovations 

According to a study by the Economist Intelligence Unit (EIU) family businesses in the region are aware of the rapid pace of change in technology and markets, and how these are impacting their overall business outlook. These businesses make up a significant proportion of Small and Medium Enterprises (SME). In the Philippines for example, up to 98 percent of businesses are currently classified with in the scope of SMEs, the percentage varies based on the measure of revenues. Based on a recent Asian Development Bank (ADB) study, SMEs are companies with 10 to 199 employees, valued from P3M to P100M. 

The EUI study ranked the pace of change of technology to be the highest area of concern that may present the most significant threat to SME’s growth in the region over the next three years. It specifically assessed the landscape of small and medium sized family-owned businesses, highlighted that with the significance of family connections and customer loyalty diminishing, executives should acknowledge the pressing need to change their ways of doing business. 

“Executives in Southeast Asia show less confidence in their abilities to meet future challenges than their peers in South Asia. In order for family businesses in this fast-changing region to keep up, they will need to adapt to new technological developments and modernize their way of thinking to bring their businesses into the 21st century. Otherwise, the next generation may not throw in their chips with their parents’ companies,” Michael Gold, EIU editor in charge of the research said.

Catching up on that growth and developing a strong and resilient business foundation in the fluid pace of technology also puts a lot of pressure on the SEA SMEs. Yet despite feeling this pressure from the emergence of new technologies, respondents in the study are strongly confident of their organization’s readiness to utilize new technologies including big data and artificial intelligence.

The take-up rate for adoption is higher compared to most other regions with family businesses operating. For example, the global adoption rate is about 55 percent and SEA businesses all report above 60 percent in each major technology category such as data analytics (67 percent) machine learning (62 percent), automation (66 percent) and cloud computing (64 percent). 

“The landscape and dynamics of family businesses in Southeast Asia is unique, with many of them still being in the first or second generation. Given their small or medium sizes, these businesses have the competitive advantage of being agile and nimble, which put them in a better position to adapt to the rapid pace of change in the market,” Claus Andresen, President and Managing Director of SAP Southeast Asia indicated as he led the launch of the SAP Leonardo Center. 

In addition to adopting new technologies, respondents from the family businesses are seeking external solutions to catalyze new opportunities, such as partnerships with other companies. Thirty seven percent of businesses say they would partner with foreign SMEs, likely due to similar long-term goals and mindset. Large domestic companies and large foreign companies follow closely behind (35 percent and 34 percent, respectively), presumably because of access to the latest know-how and can help expansion into new markets. When asked about the most prominent benefits to their organization that they seek from such collaborations, respondents ranked development of new products and services to be the strongest key benefit.

“When we look at the broader SME segment in Southeast Asia, SMEs account for between 95 to 99 percent of establishments across ASEAN, contributing massively to the GDP. This may put them in the prime position to drive disruptions across industries and economic growth across the region. But to do this, these organizations should first and foremost embrace digital innovations and integrate digital technologies into their overall strategy,” Andersen said.

 To support SME customer needs for flexibility in their solution purchases and deployment, SAP announced an extended access for partners to the SAP software portfolio to provide small and midsize enterprises (SMEs) with fixed-scope packaged solutions at predictable prices. SAP-qualified partner-packaged solutions will be built and delivered by SAP partners and are structured to provide customers with a fast return on investment at high-quality standards. 

“The real growth is anchored in an intelligent enterprise - one that connects people, things and businesses, so they know more, care more and do more for customers. It’s the flexibility to do business in-the-moment, and that is what SAP, together with our partners, is offering to the market with our digital core and SAP Leonardo solutions,” he continued. 

 The SAP-qualified partner-packaged solutions represent a packaging strategy with three important pillars; 1) packages based on SAP software together with a partner’s services and intellectual property – creating a unique and highly targeted value proposition based on a fixed scope and a fixed price offering, 2) a rigorous qualification process, securing full alignment on the value proposition and validation of the partners’ ability to deliver, 3) exposure on SAP.com to give customers direct access to partner-packaged solutions and joint go-to-market activities with partners active in the SME segment 

In Southeast Asia, SAP partners will be offering SME customers with qualified packages for SAP Leonardo. SME customers who are interested in these offerings can contact the SAP channel partners directly to explore co-innovations with SAP Leonardo.

“The bottom line is SMEs need to find new ways of doing things and offer innovative new product and services in today’s digital economy. What SMEs do today will affect their bottom line and survival tomorrow,” Andresen concluded. – Raymond G.B. Tribdino
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