IDC Philippines announced today that Atty. Emilio Benito Aquino of Securities and Exchange Commission and Maria Beatriz A Adversalo of Malayan Insurance Company, Inc. are recognized as CEO of the Year and CIO of the Year respectively in the Future Enterprise Awards (FEA) 2022 Philippines.
“In spite of the past couple of years being extremely trying times for the ASEAN region, it is highly encouraging to see organizations moving ahead with their digital transformation (DX) initiatives. The digital economy is on the lips of every ASEAN government, and IDC is witnessing vindication for many organizations that embarked on DX initiatives early on and are now capitalizing on this shift. This is a catalyst for many other organizations to follow suit. Cloud, Artificial Intelligence (AI), cybersecurity and IoT solutions remain the top areas of investment interest for ASEAN enterprises as they embark on a new level of their digitalization journey,” says Sudev Bangah, IDC ASEAN Managing Director.
Now on its sixth year, the Future Enterprise Awards continues to celebrate the tech-enabled resilience of enterprises as they navigate through the challenges and disruptions in a fast-paced and increasingly digital world. Joining Securities and Exchange Commission and Malayan Insurance Company, Inc are Department of Agriculture-PhilRice, Quezon City Government, Union Bank of the Philippines, Maya Philippines, Asian Development Bank, and Golden Arches Development Corporation (McDonald’s Philippines).
These organizations asserted their leadership in a digital-first world, distinguishing themselves from 1,071 entries received from 707 unique end-user organizations across Asia/Pacific. They were chosen as a cut above the rest in the Philippines after displaying exceptional planning and implementation of DX initiatives according to IDC’s Future Enterprise benchmark categories, as shown in the recap below:
Development of the RCEF Seed Monitoring System (RCEF-SMS) for the Rice Competitiveness Enhancement Fund (RCEF) Seed Program by DA-PhilRice | Best in Future of Connectedness
The RCEF-SMS cuts across the end-to-end process of the RCEF Seed Program, which includes allocation planning, delivery, inspection, payment processing, and distribution of high-quality seeds to Filipino rice farmers. It consists of interlinked web-based and mobile applications working in lockstep to digitally enable the programs’ day-to-day operations. This has drastically improved implementation efficiency through seamless data and information interchange between internal and external systems. The RCEF-SMS enables users to gain data-driven insights into its operations towards policy and decision-making processes to further improve services. The program operates nationwide covering 42 provinces and distributes ~3.4 million bags of rice annually to ~800,000 farmers in more than 700 localities.
QC Biz Easy — Online Unified Business Permit Application System (OUBPAS) by Quezon City Government | Best in Future of Customer Experience
Starting from the vision to make it easier to do business at Quezon City (QC) and fully comply with the provisions of the Ease of Doing Business and Efficient Delivery of Government Services Law, the Quezon City Government launched the QC Biz Easy Online Unified Business Permits System in October 2020. It aims to streamline and integrate all regulatory departments involved in the business permitting process into one system. It has now contributed to a 7% increase in customer growth from 9,994 (Jan – June 2021) to 10,725 (Jan-June 2022).
UnionBank’s Data Vault Platform: Strategic Technological Enabler by Union Bank of the Philippines | Best in Future of Digital Infrastructure
Union Bank of the Philippines replaced their existing data architecture with the Data Vault Platform (DVP) with the intent to create a Single Version of Truth that will improve processes and enable new customer experiences. In 2020, they adopted a rapid digital transformation strategy to further enhance the DVP with AI and ML capabilities. This “AI Factory” runs on the Data Science Workbench Platform and uses AI/ML to supercharge existing services and use cases throughout all business units.
Furthermore, these AI/ML capabilities enable the generation of new credit risk, workflow, and cross selling models, and automated processes which leads to the creation of new products and services. The project also improves security and reduces risk with anti-money laundering activity now 98% faster than before using suspicious transaction reports (STR). STR is designed to detect or identify any suspicious financial transactions including money laundering. Staff can generate STR model in just 12 minutes compared to the previous 10-12 hours.
QC iBIZ View — Automated Inspection Audit System (AIAS) by Quezon City Government | Best in Future of Digital Innovation
A major part of the mandate of the Quezon City Business Permit and Licensing Department (BPLD) is to conduct inspections on all business establishments operating within the city – ensuring compliance to existing laws and regulations. In April 2021, BPLD launched the Automated Inspection Audit System or AIAS which became the BPLD’s main system for inspection and verification of regulatory permit compliance of establishments. AIAS utilizes technology and innovation and is one of the first-of-its-kind among Local Government Units in the Philippines. Each inspector is provided with a tablet and a handheld printer which can be used to view and review mission orders and other details on the establishment being inspected – with each information stored in a server.
UnionBank: Closing the Gap to Accelerate Digitization in the Philippines by Union Bank of the Philippines | Best in Future of Industry Ecosystems
The UBP Digital Business Solutions Partnerships Initiative was created with the vision to help Tech Up Pilipinas ensure clients have easy and complete access to fintech solutions through synergies with fintech partners. The initiative is anchored in a win-win-win strategic growth model. It creates a roster of accredited Fintech Partners and endorses them in the UBP ecosystem to help provide easy and complete access to fintech solutions which are complementary / noncompeting with UBP’s products. Meanwhile, Fintech partners are also able to offer advantageous rates to clients within the ecosystem. Since its introduction in 2020, the UBP Fintech Partnerships has made way for more than 100 synergies and Php 1.7 billion additional business with 100% growth from its first year. This initiative creates inclusive and collaborative synergies – instead of the individualistic and competitive approach – as it focuses on connecting and closing gaps towards access to fintech solutions.
Maya Philippines Data-Driven Everything (D2E) Program by Maya Philippines | Best in Future of Intelligence
To provide a seamless experience, understanding a user’s profile and interest is necessary – and data is crucial to this. Maya Philippines saw the need to strengthen its data practices by rolling out the Data-Driven Everything (D2E) program to transform Maya Philippines as a data-driven and AI-first organization. They rolled out various projects starting January 2021, from defining a clear data roadmap to building AI-powered services. Their data analytics and governance maturity has improved from a baseline score of 1.97 out of 5.00 in January 2021, to 4.15 in June 2022. This program helped Maya Philippines grow its consumer customer base by 1.7x (47 million) from end-2021 until the end of March 2022. They grew their acceptance touchpoints by 6.3X to 630,000 for the same period. Their D2E program has enabled them to roll out digital banking services by building a robust credit decision engine, among other use cases.
ADB’s Integrated Disbursement System (IDS) by Asian Development Bank | Best in Future of Operations
In July 2021, ADB shifted to a modern, flexible, and efficient system known as the Integrated Disbursement System (IDS). IDS drives innovation that results in cleaner, better, more integrated, and near real-time data and transactions. By significantly improving the efficiency of people across the organization through technology, IDS has contributed to better client responsiveness, bringing disbursements to the modern day and beyond. As of December 2021, around 19,000 disbursement vouchers had been processed – for a total of approximately $9.7 billion using the new system. The transformation of the sovereign disbursement mainframe system is the largest project of its kind in ADB, consolidating the efforts of the One ADB team across the Controller’s Department, Procurement Department, Portfolio and Financial Management Department, Treasury Department, Information Technology Department, and Regional Departments.
Atty. Emilio Benito Aquino by Securities and Exchange Commission | CEO of the Year
Under the leadership of Chairperson and CEO Emilio B. Aquino, SEC crafted the “SEC Philippines’ Digital Transformation and Technology Modernization Roadmap”, which has so far launched four key projects aimed at improving company registration processes, filing annual reports, and payment transactions. Electronic Simplified Processing of Application for Registration of Companies (eSPARC) facilitates a faster and easier registration process, resulting in a 53.2% increase in the number of new registrations for 2021. One Day Submission and Electronic Registration of Companies (OneSEC), further accelerates registration process to two minutes. Two other initiatives include the Electronic System for Payments to the SEC (eSPAYSEC) which allows online payment of fees and penalties through a cashless payment option, and the Electronic Filing and Submission Tool (eFAST) which provides an online facility for submitting annual reports.
Maria Beatriz A Adversalo by Malayan Insurance Company, Inc | CIO of the Year
Maria Beatriz Adversalo initiated and managed the Malayan Digital Transformation Program (DXI). Malayan’s DXI strategy consists mainly of web applications, portals, API’s, OCR/RPA automation, analytics and cloud. This has resulted in digitalized policy issuance premiums of Php475M in 2021 (796% up from 2020); API-based premium of Php742M in 2021 (484% up from 2020); 114K man-hours saved through robotization leading to manpower reassignment; and Php9M annual savings in software subscriptions saved through low-code adoption, replacement of tools and modernization.
Accelerating Digital Capabilities for Growth in the Next Normal by Golden Arches Development Corporation (McDonald’s Philippines) | Special Award for Digital Resiliency
When the pandemic hit, McDonald’s put together a Business Continuity Plan (BCP) with concurrent workstreams to respond to immediate business needs and prepare for the future. These cross-functional groups implemented technologies that enables operational efficiency, productivity, user experience, safety, and addresses the well-being of employees and communities in need.
In 2021, McDonald’s pivoted from BCP to digital transformation, growing their digital maturity. By the end of 2021, McDonald’s achieved 107.17% of their system-wide sales target, 29.98% growth versus 21.29% target, and a positive momentum at 80% of pre-pandemic sales across all channels. They were also able to achieve a 48% growth in guests – a 16% increase over pre-pandemic levels.
IDC’s Future Enterprise Awards follows a two-phased approach to determine country and regional winners. Each nomination is evaluated by IDC’s country and regional analysts against a standard assessment framework based on IDC’s Future Enterprise taxonomy. All country winners will qualify for the regional competition to be decided by a panel of judges comprised of IDC analysts, industry practitioners, thought leaders, and academia around the globe.