As part of the national SME Week, the Malta Chamber organised an event dedicated to the challenges of digitalisation in today’s world, titled Digilatisation – Do or Die
The event was organised with the support of the Ministry for the economy, Investment and Small Business as well as Microsoft Malta, RSM and BoV. For this Seminar a number of speakers shared their insights from various perspectives of this global trend which is opening new markets by connecting people, businesses and things. Digital technology is blurring the lines and is creating a commercial environment that is open for business anytime, anywhere and in any way the customer or buyer prefers to acquire a product or a service. It is becoming critical for businesses to adopt different approaches that include the traditional practices, online and mobile technology to engage with customers and in industrial production.
In his welcome address, the Chamber’s Deputy President, Frank V Farrugia said that Digital capabilities are increasingly determining which companies create or lose value. One must realise that a digital strategy and a business strategy are now one and the same. A successful digital transformation demands a high level of coordination and a whole new set of capabilities.
On the other end of the spectrum, the shift to a more digital economy is an empowering moment for entrepreneurs. Barriers to market entry have never been lower, as new businesses ride on larger platforms and immediately tap into a substantial customer base. They can instantly recruit specialised help on a project basis, access computing power via the cloud, and connect with a wide range of suppliers.
Mr Marios Issaris, Marketing and Operations Operations Director, Microsoft Greece, Cyprus and Malta spoke about the cross industry evolution through digital transformation. Quoting Charles Darwin, the message of the presentation was that “it is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change”
Mr Gordon Micallef, Director RSM Malta, delivered a presentation on innovation and knowledge management tools in the digital age. One message that Mr Micallef gave was that timely innovation is necessary as the market transitions are getting faster and customer demands are evolving more quickly.
Dr Ing Conrad Pace, General Manager at Prominent Fluid Controls Ltd, looked at digitalisation in the various stages of manufacturing from conceptualisation to design, production and evaluation, as well as the spread of digitalisation in the production processes.
Mr Christian Ganado, Director at Melite Retail looked at the power of location based marketing in the retail sector and at consumer attitudes towards digital enhancements. He also spoke about data elaboration and use.
Mr Ivo Camilleri, Executive Head, Electronic Banking Services at the Bank of Valletta dwelt on the adaptation of financial institutions in response to business' changing expectations driven by technology
Mr David Serge, Director Operations at Stargate Studios explained how his company could not exist without the digital technology and how this in turn allowed it to work in close cooperation with other companies situated in different parts of the globe.
These interventions were followed by a short question and answer session and then the participants were able to network over some refreshments by the pool of the Xara Lodge.