WeWork enters Thailand

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http://www.nationmultimedia.com/detail/Corporate/30369856

WeWork enters Thailand

Corporate May 23, 2019 03:07

By The Nation

3,157 Viewed

WeWork – a platform for creators that provides space, community and services to help people build a life, not just a living – announced on Wednesday that it was officially entering Thailand with the introduction of WeWork Labs in Bangkok’s Asia Centre Building on Sathon Road and T-One Building on Sukhumvit Road.

Fortified by strong demand from enterprises, small and MSMEs (micro, small, and medium entrepreneurs) and start-ups, the American company is making landfall in Sathorn and Thonglor. In Asia Centre, WeWork will occupy five floors, welcoming 1,200 members to its community, while it will occupy seven floors in Thonglor’s T-One accommodating 1,700 members.

“With Thailand embarking on a new phase of economic development, building on its digital transformation goals, WeWork is committed to becoming a partner to help achieve the ‘Thailand 4.0’ vision by acting as a launch pad for the mid market segment,” WeWork’s Southeast Asia managing director Turochas “T” Fuad said.

“As our footprint in Thailand grows, we see a huge potential for serving the demand from the MSMEs to Fortune 500 companies looking to us as a solution for flexible, high-quality spaces, along with accelerating their business in the local ecosystem empowered by a global network.”

“This will pave the way for WeWork’s unique proposition to connect two major groups within the WeWork community: corporations looking to innovate, and start-ups looking to grow and better establish their business,” he said.

“As we are creating a new engine to drive the Thai innovation economy, we see how start-ups in Thailand need the global and Southeast Asian perspectives to attract investments and break into new markets,” said Dr Krithpaka Boonfeung, deputy executive director for the National Innovation Agency’s innovation system. “With WeWork Labs’ expertise in stimulating the growth of local start-ups and innovation-based businesses, we are confident that closer partnerships will pave the way for strengthening Thailand’s local ecosystem.”

These announcements also celebrate the milestone of WeWork strengthening its local community powered by a global network, while supporting early-stage start-ups and corporations seeking to disrupt their industries. Making entry into the heart of Bangkok, this will further enable interconnections of business districts, innovation hubs and creative communities, as fostered by WeWork commitment in line with the “Thailand 4.0” vision.

Time to think about getting out of your next crisis

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http://www.nationmultimedia.com/detail/Corporate/30369834

Stuart Kelly
Stuart Kelly

Time to think about getting out of your next crisis

Corporate May 23, 2019 01:00

By Kwanchai Rungfapaisarn
The Nation

2,240 Viewed

STUART KELLY talks with Kwanchai Rungfapaisarn of The Nation on crisis communication and how it works. Kelly is managing director of Weber Shandwick in Thailand since 2014. He also leads the firm’s crisis and issues communications practice, leveraging more than 25 years in PR and journalism, including with Bloomberg News.

What exactly is crisis communications?

Crisis communications is closely related to reputational management, and is one of the founding pillars of PR. It’s probably what our industry is best known for because it’s highly visible. Companies’ reputations are enhanced or destroyed by how they communicate in a crisis.

How you communicate during a crisis is just as important as how you fix it – sometimes more important. Reputational damage lasts long after a crisis is over. Sometimes a company’s reputation can actually be enhanced through good communication, even amid a disaster. A good example of this is AirAsia in 2014, when CEO Tony Fernandes’s highly effective response helped the company recover quickly after an air crash that killed 162 passengers. He understood that the damage to a company’s reputation from poor communication is more costly in the long run. But it’s not easy to build the capability. It is highly specialised, and it takes time to develop experience. Weber Shandwick has a large global crisis communications team, and all of them are very senior practitioners.

You worked as a journalist for international news organisations including Bloomberg before moving to Thailand in 2014. How did that experience help you in your current role? 

I love a good crisis! I know that sounds strange, but what I mean by that is some people operate better under pressure. A crisis workshop can be quite an intense experience for participants, and the first thing I tell them is: “Don’t worry, today I’m the only the one in the room enjoying myself.” It’s a quirky way of making them relax – hopefully.

My background as a news reporter helps a lot, of course. We have a nose for bad news. I know what drives the news cycle and, together with my years in PR, this sparked my interest.

How relevant is your journalism background in managing a social media crisis?

A great question. Social media changed our industry. Reaction times speeded up and added to the pressure. Fifteen years ago, a client had several hours to consider a response before the media went to print or air. Now the news breaks instantaneously; and so does the gossip. Every decision a communications manager makes is now in real time, with immediate consequences.

Social media is often wrong, especially early in a crisis, and won’t give you a fair hearing, so it’s even more important to get accurate information out quickly. Journalists can be your biggest allies in a crisis because they are more credible.

Which is why good old-fashioned media relations are still important.

If anything, this makes my experience as a journalist more relevant. We are fast, effective and accurate communicators, and we have a feel for the news cycle.

We also have an instinctive feel for narrative, and how to craft and control it. This is what social media can’t do – it’s made up of individual opinions, often not very educated or considered.

In the first few hours of a crisis, the social chatter has no central narrative, unless orchestrated by a ‘fake news’ factory with deliberate intentions. It’s fickle, and that is social media’s weakness. It can be enormously damaging but a good crisis manager can get ahead of the noise with a solid narrative. I’m not saying it’s easy!

Has social media driven demand for what you do?

Yes, in Thailand definitely. Crisis communications was always an important part of Weber Shandwick’s core offering, long before social media, but that hasn’t been the case in Thailand until more recently. Local companies are slower to appreciate its value and even now most of our work is with our multinational clients. Thai companies would mostly call us long after a crisis has begun and ask us to “make it all go away”. That’s not the best way to do crisis communications.

How does crisis communications work?

There are common “first principles” that apply to most situations, but everything is tailored to the client. About 60 per cent of cases start small and are often foreseeable before they escalate into a full-blown crisis. These include things like staff issues, harassment, mismanagement or corruption. This is when we prefer to get involved.

Other cases are immediate and unexpected, such as a bomb, fire or oil spill. But in all cases, our effectiveness depends on when we get involved. The best crisis outcomes come from preparing a client long before a crisis breaks.

Preparation work usually includes an audit of risks, a review of communication protocols and playbooks, followed by crisis training.

Weber Shandwick’s proprietary offerings like Firebell offer real-time drills that simulate a highly realistic crisis scenario to test and train our clients’ teams.

Typically, I spend a day with the crisis communications team. We cover some theory in the morning, which we tailor to the client, followed by a role play scenario that puts them under a bit of pressure for the rest of the day.

At this point I’m really enjoying myself! Some find it very stressful, but the pleasing thing is that we almost always get great feedback from participants. As I said earlier, pressure sharpens the mind and improves performance, and not many training workshops do that as effectively as a crisis drill.

What kinds of crises do you deal with?

Some of the greatest risks in Thailand are faced by the travel industry, and crisis training is a high priority for international hotels. Telcos and consumer tech companies are more concerned about cybersecurity threats and product recalls. The range of issues we deal with in Thailand is now as sophisticated and varied as anywhere in the world.

Thankfully, we are seeing more demand in Thailand for crisis preparation, which tells me that companies are actively managing their reputations..

AIA Thailand wins marketing award

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http://www.nationmultimedia.com/detail/Corporate/30369833

AIA Thailand wins marketing award

Corporate May 22, 2019 17:55

By The Nation

2,307 Viewed

AIA Thailand chief marketing officer, Aekkaratt Thitimon, far right, has represented AIA to receive “Marketeer Number One Brand Thailand 2019″ which the company said it had won for nine consecutive years.

 This year the company received the award in the health insurance category for the second consecutive year at the presentation at Chadra Ballroom, Siam Kempinski Hotel Bangkok.

AIA said the award was based on a survey by Marketeer and Kadance Thailand Co Ltd with more than 4,000 respondents.

Banpu issues debentures worth Bt10bn

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http://www.nationmultimedia.com/detail/Corporate/30369827

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Banpu issues debentures worth Bt10bn

Corporate May 22, 2019 17:03

By The Nation

2,326 Viewed

Banpu Public Company Limited, an energy solutions company in Asia-Pacific, has successfully completed the issuance of 10-year unsubordinated and unsecured debentures with a debenture holders’ representative, with a fixed coupon rate of 4 per cent each year, worth Bt10 billion.

The debentures were offered to institutional investors and high net worth investors.

Somruedee Chaimongkol, Banpu’s CEO, said: “The offering of Banpu’s debentures was exceptionally successful with overwhelming interest from investors. During the book-building process, the debentures were two times oversubscribed, emphasising the trust investors placed in Banpu.

“So we decided to exercise a green-shoe option, making a total issue size of Bt10 billion to accommodate additional demands from investors. The proceeds from debenture issuance will be used for the repayment of existing debentures and loans, and used as working capital and investment capital to materialise Banpu’s vision to be the Asian energy company at the heart of innovation, technology, and sustainability, to create a satisfying and sustainable return for our investors and stakeholders.”

Bangkok Bank Public Company Limited was the sole lead arranger of this debenture issuance. Banpu’s debentures were assigned an A+ rating by TRIS Rating Co Ltd reflecting Banpu’s robust financial position, increasing earnings stability, and its strategic moves as a leading integrated energy solutions company in Asia-Pacific.

SEC issues debt crowdfunding regulations to ease funding access for startups

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http://www.nationmultimedia.com/detail/Corporate/30369810

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SEC issues debt crowdfunding regulations to ease funding access for startups

Corporate May 22, 2019 15:16

By The Nation

2,220 Viewed

Thailand’s Securities and Exchange Commission (SEC) has issued regulations on debt crowdfunding through funding portals in order to increase alternative fundraising methods for small and medium-sized enterprises and startups.

Crowdfunding is a method for raising sums from investors through a funding portal on the internet. It is an alternative channel for SMEs and startups to access capital sources through issuances by offering equity or debt securities for sale.

SEC assistant secretary-general Praoporn Senanarong said, “The debt crowdfunding scheme is part of the SEC’s regulatory efforts to support the governmental policy on promoting greater access to alternative financing resources for SMEs and startups to raise funds and expand their business growth. The new scheme follows a similar regulatory framework governing the existing equity crowdfunding rules.”

Pursuant to the new regulations, an eligible fundraiser for the crowdfunding scheme must be a Thai company with a clear business plan. With respect to the financing limit, an SME or a startup may raise capital from retail investors to a maximum of Bt20 million during the first 12 months and to a total of no more than Bt40 million, equity and debt combined, throughout the whole project. The fundraiser is also required to report the offering results to the SEC.

Interested investors are advised to study the crowdfunding scheme carefully from all angles before making an investment decision, from the opportunities and the associated risks to the terms and conditions. This is because applicants for the crowdfunding option are generally SMEs and startups of a small business size or at the initial stage of their operation, and thus exposed to high risks. Those risks include the business risk, obligations of offered debts, trading channels and transfer limitations.

In addition, to manage risks and potential impacts on investors, the new crowdfunding regulations prescribe an investment limit of Bt100,000 per business (equity and debt combined) and the annual investment limit of Bt1 million for each retail investor. There is no investment limit for non-retail investors.

Non-retail investors are institutional investors, venture capital businesses, private equity trusts and qualified investors.

The crowdfunding must be conducted through a funding portal approved by the SEC. Funding portals play the pivotal role of screening eligible companies and overseeing their information disclosure. The SEC does not grant an approval for each crowdfunding project or supervise pre-offering disclosure.

To be eligible for a funding portal approval, an applicant must have the same qualifications and work systems required for equity crowdfunding, and must also have a system for assessing credit worthiness and risks of the debt fundraisers.

Currently, there are several companies interested in applying for an approval to operate a debt-funding portal business.

In addition, the SEC has amended the overall crowdfunding requirements to be more consistent with other regulations. This includes the revision to the definitions of a private equity trust and a venture capital business in line with the digital-token offering rules, and the amendments to the rules governing equity trading in the secondary market in line with the primary market offering rules.

The debt crowdfunding regulations have been in force since May 16, 2019. The proposed regulations completed focus group and public consultation sessions on January 28, 2019.

RS expects major MPC growth with new hair treatment product

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http://www.nationmultimedia.com/detail/Corporate/30369808

Surachai Chetchotisak, the CEO of RS Public Company Limited
Surachai Chetchotisak, the CEO of RS Public Company Limited

RS expects major MPC growth with new hair treatment product

Breaking News May 22, 2019 14:57

By The Nation

2,172 Viewed

RS aims to spur the growth of its multi-platform commerce (MPC) by partnering business with a world-class research centre to introduce Revive Black Shine, a world-first in grey-hair treatment.

Surachai Chetchotisak, the CEO of RS Public Company Limited, said its MPC is growing rapidly and is now generating about 60 per cent of the company’s revenue.

In 2018, MPC businesses brought in more than Bt2 billion in total, particularly from the Lifestar lines that focus on world-class health and beauty products.

Over the past four years, the company has been developing its products through partnerships with world-class laboratories in Switzerland, France, Spain, South Korea, Japan and Canada. Their research and development led to new, high-quality innovations to meet the diverse needs of consumers.

As Thailand is fast becoming an aged society, grey hair is a major concern for many. Products that treat and prevent grey hair at its root cause have appeal to modern consumers aged 35-50 years. Earlier in May, the company introduced a new haircare product, Revive Black Shine Serum that features a formula that helps treat grey hair at its root cause thanks to a new innovation by Mayer Cosmetics in the US using Canadian technology.

The product is formulated with natural ingredients and innovative peptides that nourish the hair from roots to ends, allowing grey hair to turn black naturally. Within only seven days after its launch, it was phenomenally well received by consumers and set a new record in sales, instantly becoming a champion product.

“Our MPC business is growing fast, because Lifestar is constantly seeking new technology and trends to meet the needs of modern consumers precisely. More than 50 per cent of our customers make repeat purchases, which shows that they trust our products,” said Surachai. “More than 80 per cent of our sales come from telesales, and our growing database helps us accurately anticipate the needs of our consumers, thereby increasing our sales and growth opportunities.”

Currently, RS has more than 1.2 million customers in its database, most of whom watch of RS-owned media channels. The database is expected to grow to cover 1.8 million customers this year. RS aims for total revenue to reach Bt5 billion, 60 per cent of which will come from MPC, 30 per cent from media and 10 per cent from music.

Its new product segment is expected to continue growing, with the company investing Bt100 million to introduce around 200 new SKUs this year through skincare brand Magique, hair care brand Revive, and food supplement brand SOM (Science of Body & Mind).

THAI Smile launches a campaign for Smile Plus tickets for Indochina routes

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http://www.nationmultimedia.com/detail/Corporate/30369807

THAI Smile launches a campaign for Smile Plus tickets for Indochina routes

Breaking News May 22, 2019 14:50

By The Nation

2,335 Viewed

THAI Smile Airways would like you to experience the superior service in the Smile Plus or Premium Economy class in Indochina routes including Yangon, Vientiane, Luang Prabang, Phnom Penh and Siem Reap with a special promotion, starting at Bt13,855.

It comes with full service and offers more than 40 kg of luggage loading. Check-in via expressway with lounge service, food and beverage, baggage handling and mileage accumulation with Royal Orchid Plus.

Reservation can be made from now until 31 May 2019. Travel from today until 31 July 2019. Book a seat at http://www.thaismileair.com and ticket agents nationwide.

Aritco aims to boost popularity of home lifts

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http://www.nationmultimedia.com/detail/Corporate/30369763

Tana Sripongtanakul, the managing director of Aritco (Thailand) Co Ltd, poses in front of the company's flagship showroom on Rama III Road in Bangkok.
Tana Sripongtanakul, the managing director of Aritco (Thailand) Co Ltd, poses in front of the company’s flagship showroom on Rama III Road in Bangkok.

Aritco aims to boost popularity of home lifts

Breaking News May 22, 2019 01:00

By THE NATION

ARITCO (Thailand) Co Ltd, the sole distributor and installer of Swedish “Aritco” home lifts, is underlining its leadership in the home lift market by investing over Bt100 million to launch its first local flagship showroom in the heart of Bangkok on Rama III Road.

The gallery-like showroom will display a variety of home lifts in a relaxing co-working space atmosphere. It will also function as a data centre to house an engineering team for real-time after-sales services.

Aritco expects sales to grow by 100 per cent over the next three years with lift sales rising from 1,000 to 2,000 units through the opening of new showrooms in major cities nationwide.

The local Aritco operation has been the sole distributor and installer of Aritco home lifts from Sweden in Thailand since 2012, with products priced from Bt1 million per unit and targeting customers with a contemporary lifestyle.

Tana Sripongtanakul, the managing director of Aritco (Thailand) Co Ltd, said the products are well-accepted among a wide group of customers, as proved by the constant growth in sales to more than 1,000 units over the seven-year period.

The firm caters to the lifestyle of new-generation customers who seek convenience and safety, as well as an aesthetic design that together make Aritco the truly smart home-lift solution, said Tana. Given the rapidly ageing Thai population, the company has invested over Bt100 million to create the first flagship showroom on Rama III Road. It aims to follow a gallery format to showcase different models of home lifts to create comprehensive solutions to best match all customers’ demands, said Tana.

Customers will be able to experience Aritco home lifts in the relaxed atmosphere of a co-working space while being served with beverages of their choice. The showroom will also function as the data centre, where engineering teams are stationed to offer after-sales services with a real-time surveillance system employing advanced computerised technology, to ensure that all Aritco lifts are in perfect condition 24 hours a day.

In addition to the flagship showroom in Bangkok, the company is planning additional showrooms in major cities, including Chiang Mai, Khon Kaen, Chon Buri and Phuket.

Aritco aims to become the leader in the home-lift market with sales expected to double over the next three years, from 1,000 to 2,000 units.

Aritco (Thailand) Co Ltd has for seven years ago imported, installed and marketed Aritco products, by appointment of Aritco Lift AB, Sweden, said Martin Idbrant, chief executive officer of the parent company. The company firmly believes that the Thai company will showcase the strength of the Aritco brand and grow sustainably in the long term, said Idbrant.

Thai executives have so far shown a broad vision with the needed knowledge and experience to raise the quality of life of Thai people to meet international standards. The products have been increasingly recognised by Thai customers, due to the quality of the installation and after-sales services and maintenance by professional engineering teams provided during the warranty period, said Idbrant.

“The company is ready to be cooperative in all aspects and will continue to be innovative in the development of lift technology to support Aritco [Thailand] to remain at the forefront of the home-lift market in the country,” he said.

The latest model of the Aritco home lift was designed by prominent Scandinavian designer Alexander Lervik. It is the first of its kind to be so meticulously designed to meet the needs of an in-home lift.

Aritco is the world leader in the manufacture of home lifts for home installation, building lifts or platform lifts for public spaces.

Huawei ‘likely to launch own operating system’

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http://www.nationmultimedia.com/detail/Corporate/30369765

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Huawei ‘likely to launch own operating system’

Corporate May 22, 2019 01:00

By JIRAPAN BOONNOON
THE NATION

LOCAL businesses are watching if restricted access to Google updates for mobile services among Huawei users will push the Chinese company to develop a new operating system and new mobile services to support its customers.

Google on Monday announced that it would restrict Huawei’s access to updates of Google’s Android operating system and some mobile services in compliance with US government curbs on the Chinese tech company.

Danupol Siamwalla, chief operating officer at DHA Siamwalla, said his firm views the announcement as a surrender by the US company, and would force Huawei to develop their own operating system and platform to support their business.

However, the restrictions would also trigger further economic and technology wars between the US and China, which would cause the disruption of adversaries’ technology in the near future.

Nuttaporn Voonklinhom, an executive at the Thailand e-Business Centre (TeC), said the restrictions would affect new smartphones that want to use new Google mobile service upgrades such as Gmail, YouTube and Google Maps. As result, it would encourage the Chinese company to develop its own unique platform and a new operating system to support customers.

Moreover, he added, it would be an incentive for Google to set up a new business outside the US and change the name of its existing mobile services so as to support mobile-phone users with Huawei products. Currently, almost half of Google’s mobile service users access them from Chinese smartphones. Nuttaporn noted that smartphone products are not a major revenue source for Huawei, and so the move by Google does not have a large impact on Huawei. If Huawei closed its showroom and its business outlets in the US, it would affect around 50,000 employees in that country.

Meanwhile, a release from Huawei said the company had made substantial contributions to the development and growth of Android around the world.

As one of Android’s key global partners, the company had worked closely with their open-source platform to develop an ecosystem that has benefited both users and the industry, according to the release.

Huawei said it would continue to provide security updates and after-sales services to all existing Huawei and Honor smartphones and tablet products, covering those that have been sold and those that are still in stock globally. The firm will continue to build a safe and sustainable software ecosystem, in order to provide the best experience for all users globally, the release said.

Nutanix enjoys IT inroads by making infrastructure invisible

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http://www.nationmultimedia.com/detail/Corporate/30369767

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Nutanix enjoys IT inroads by making infrastructure invisible

Corporate May 22, 2019 01:00

By NOPHAKHUN LIMSAMARNPHUN
THE NATION

NUTANIX, a US-based cloud computing company, has made inroads into Thai and other Asean markets with its software-defined IT infrastructure services for digital transformation.

Lim Pun Kok, managing director for Asean, said Singapore, Thailand, the Philippines and Indonesia are among the high-growth markets in this region.

In Thailand, where Nutanix has been active for the past five years, they boast several major customers in banking, telecom and other sectors, including True, Kbank and Easybuy.

In addition, Nutanix’s cloud computing software services are crucial to the country’s Thailand 4.0 initiative for economic and social digitalisation, he said..

According to Rajiv Mirani, Nutanix’s chief technology officer (CTO), software-defined IT infrastructure services make enterprise applications in different environments, both on and off premises, feasible in a way similar to consumer apps on Apple and Android mobile phones.

The firm has been approaching the digital transformation journey in a new way to make IT infrastructure invisible, especially for business applications.

In this context, internet of things (IoT) devices and edge computing, for example, can be on one common platform for simple management instead of needing the old-style multi-tier architecture.

This new approach makes it easier to manage complex IT tasks in the new era as heralded by AWS, for example, which makes cloud-based computing facilities popular due to increased agility and the pay-as-you-grow model.

Now, businesses are heading towards using multi-clouds, which can be optimised for both on- and off-premise to facilitate and manage artificial intelligence (AI), IoT, edge computing, sensors and other tasks.

This makes smart checkouts for restaurants, cafeterias, retail outlets and other facilities feasible, faster, cheaper and simpler to install and operate.

Other applications include smart factories, predictive machinery and other asset maintenance, and product quality inspection, among others, which require IoT adoption, AI training, machine-learning models and visual process automation.

In other words, the IT infrastructure becomes invisible and delivers better experience for enterprises as well as their customers in a way comparable to consumer apps on smart phones, It’s just like the Apple app stores, whose IT infrastructure is not seen by consumers but they get an impressive experience.

Dheeraj Pandey, CEO of Nutanix, said the firm’s mission is to make IT infrastructure invisible by reforming the way data, design, and delivery are approached.

Storage as an app, data as a service, on- and off-premise computing, among other IT services, are now feasible due to hypervisor software which will likely lead to autonomous data centres whose concept is similar to that of autonomous cars, he said.

According to Wendy Preiffer, CIO of Nutanix, different multi-clouds, hardware and operating systems can work together to run virtually anything anywhere in the new ecosystem.

The new approach increases flexibility to better meet customer time demands. For example, banks can now launch new services on mobile devices in a matter of days or weeks instead of months.

The new approach also needs less or no administrative IT work, so staff can move out of caretaking the IT infrastructure and into working with other business functions to tackle customer needs.

The mundane IT tasks can be left to automation software, which could both speed up work by 30 per cent and increase its precision, thus better satisfying customers and making business operations leaner.