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Empowering Retail With Exponential IT: Info-Tech Research Group’s Strategies for Enhancing Customer Value and Business Growth

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Info-Tech Research Group has published a comprehensive blueprint for retail IT leaders, emphasizing the urgent need to integrate exponential technologies like AI, cloud computing, and data analytics. By addressing key priorities, retailers can enhance customer experiences, streamline operations, and drive sustainable growth. The research highlights how innovation and modernization of legacy infrastructures are crucial to staying competitive in a rapidly evolving market.

TORONTO, July 5, 2024 /PRNewswire/ – Retailers today face relentless pressure to stay competitive, drive innovation, and elevate their market positions. In such a dynamic environment, IT leaders are increasingly tasked with enabling organizations to harness exponential technologies for sustainable growth. In response to this pressing need, Info-Tech Research Group has published its latest blueprint, Priorities for Adopting an Exponential IT Mindset in the Retail Industry. This research highlights the urgent need for IT leaders in the retail sector to integrate advanced technologies such as AI, cloud computing, and data analytics. By addressing these critical priorities, the industry can overcome current obstacles and unlock new avenues for growth and innovation.

Info-Tech’s newly published industry research underscores the increasing customer demand for personalized services and transparency. However, many organizations are grappling with the challenges of delivering on these demands due to complex and costly legacy infrastructures. Emphasizing the need for innovation, the firm stresses that organizations must recognize IT leaders as valued business partners in order to embrace exponential technologies.

“As technology continues to undergo game-changing levels of innovation, organizations are faced with the real possibility of being left behind their competition,” says Donnafay MacDonald, research director at Info-Tech Research Group. “It is imperative that organizations be prepared for the next wave of rapid, exponential technological evolution. Organizations that are readily positioned to pivot, adapt, and adopt new technologies have the greatest potential to unlock value.”

The importance of adopting Exponential IT within the retail industry to combat disruptions cannot be overstated, especially for IT leaders. With speed being imperative, Info-Tech cautions that IT leaders and organizations are at risk of falling behind if they do not adopt new technologies fast enough.

“Adopting an Exponential IT mindset is about being prepared for growth by evaluating existing operations and organizational structures and taking steps to modernize them,” adds MacDonald. “Our research identifies foundational capabilities and essential steps to take in the process of adopting an Exponential IT mindset to help organizations prepare.”

Info-Tech’s research highlights several critical priorities for retailers, including the need to develop robust IT infrastructure, integrate advanced technologies seamlessly, and cultivate a flexible workforce capable of leveraging new digital tools. These strategies are essential for fostering innovation, improving productivity, and maintaining a competitive edge in the market.

The firm’s blueprint details three key priorities for IT leaders to focus on when adopting an Exponential IT mindset. These recommended priorities are:

Transform Infrastructure and Applications Into Utilities: Leverage demand-driven supply chain networks for flexibility and real-time decision-making capabilities. This approach also includes adopting cloud computing for applications and restructuring existing applications as part of digital modernization.Treat Data as a Product: Data must be treated as a product with a value proposition. Organizations can increase productivity and gain a competitive edge by evolving data ownership, increasing cross-functional influence and collaboration, and marketing and selling data assets both internally and externally.Let AI Take Over Core Operations: With ongoing advances in artificial intelligence and machine learning, there will be significant progress toward higher automation. IT leaders must prepare for the automation of infrastructure and operations with a clear IT strategy and the implementation of new technologies.

The firm’s blueprint explains that the retail industry will struggle to remain competitive without adopting AI to support business operations. Leveraging AI and automation can significantly enhance efficiency and generate real-time insights, enabling organizations to meet evolving business needs and maintain a competitive edge.

By aligning IT initiatives with organizational goals and fostering a culture of innovation, retailers can overcome barriers to digital transformation. Info-Tech’s comprehensive blueprint offers practical guidance on building a robust IT infrastructure, managing risks effectively, and creating a data-driven environment that supports continuous improvement. Adopting these priorities will help retailers navigate the complexities of the digital age, improve operational efficiency, and sustain a competitive edge.

For exclusive and timely commentary from Donnafay MacDonald, an expert in the retail and wholesale sector, and access to the complete Adopting an Exponential IT Mindset in the Retail Industry blueprint, please contact pr@infotech.com.

Info-Tech LIVE 2024

Registration is now open for Info-Tech Research Group’s annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact pr@infotech.com.

About Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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SOURCE Info-Tech Research Group

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions

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Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit tKash.co.

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SOURCE tKash

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion

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Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

For more information about Saronic, please visit: https://www.saronic.com.  

Media Contact: Press@saronic.com 

 

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SOURCE Saronic

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Summit-Friendship Solar Village Receives Reuters’ Global Energy Transition Awards 2024

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SINGAPORE, July 19, 2024 /PRNewswire/ — The ‘Summit-Friendship Solar Village’ project, located in Kabilpur within the Gaibandha district of Bangladesh, has received the prestigious Reuters’ Global Energy Transition Awards 2024 under the ‘Projects of Impact’ category in New York, USA on 25th June 2024. Among 500 entries this year from around the globe, this project was nominated for its concrete results in terms of improved energy affordability, and compensation for losses to improve local resilience for climate change.

This 57.6 kW scalable solar microgrid now benefits the 3,000 inhabitants of Kabilpur, Gaibandha. Kabilpur itself is a char—a remote sedimentary landmass found within a river—but finds itself ideally placed to act as hub for neighbouring chars within the Jamuna River, upon which it is situated.

“Summit wants to serve 100% of Bangladesh with infrastructure such as electricity and communication. Most chars fall outside the national grid. I believe these chars, like the rest of Bangladesh, deserve electricity. The award-winning NGO, Friendship, has done wonders. It’s a privilege to provide solar energy to the 3,000 people of Kabilpur Char in association with Friendship,” remarked Muhammed Aziz Khan, Chairman of Summit Power International.

“Anyone who has seen the Jamuna River in its full might will understand that mainline power grids are not really possible here. On the other hand, this solar grid will provide income-generating opportunities and livelihoods, as well as opportunities for children’s education in order for hope and dignity to thrive. We want to thank Summit for its support,” said Runa Khan, the founder of Friendship.

The solar village plays an integral role in allowing people from these isolated communities to have access to “modern” amenities, and have longer operational hours for both business and commerce, alongside academics and home use. Additionally, renewable solar energy also equates to less reliance on traditional kerosene lamps, which burn fossil fuels with toxic consequences.

About Summit Power International 

Summit Group is the largest infrastructure conglomerate in Bangladesh. Summit Power International Ltd (SPI), headquartered in Singapore, is the largest Independent Power Producer (IPP) in Bangladesh reflecting 17% of Bangladesh’s total private installed capacity and 7% of nation’s total installed capacity. In addition, it owns and operates a Floating Storage and Regasification Unit (FSRU) vessel and supplies 500 million cubic feet per day (mmcfd) of regasified LNG to Bangladesh. In 2019, Summit’s FSRU received equity investment from Mitsubishi Corporation. In 2019, JERA Co., Inc. (JERA), had acquired a 22% stake in Summit Power International. Recently, it has proposed the development of the country’s third FSRU and the Cabinet Committee on Economic Affairs has provided in-principle approval of the proposal in mid-June 2023. Most notably, the Meghnaghat II, which is a dual-fuel CCGT GE H Class plant with gross capacity of 590 MW on LNG, achieved the commercial operation date milestone on 26 April 2024.

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SOURCE Summit Power International

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