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Business in the Era of Everything-as-a-Service (XaaS) (By Eiji Ota)

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2 years ago

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XaaS

Today, products, services, and experiences are all being swept up in the phenomenon of Everything-as-a-Service (XaaS) – remote and on demand access to any business offering provided as a service

DUBAI, United Arab Emirates, December 19, 2022/APO Group/ — 

By Eiji Ota, B2B Sales and Marketing Director, Canon Central and North Africa (Canon-CNA.com)

The ‘as-a-service’ model, whereby businesses can subscribe to a service or offering without the need to pay upfront, has revolutionised B2B operations forever. It was initially introduced, with Software-as-a-Service (SaaS), a pioneering business model for accessing software through the cloud. SaaS helped businesses offer a standard, distributed solution at a lower cost of entry. This new model also meant that customers no longer needed to worry about large installation and ongoing maintenance costs.

Two decades on from its mass introduction, and the SaaS model no longer exists solely within computing, but now touches every industry. While software industries have been spearheading the as a service model for decades, other industries such as print, are in the earlier stages of applying such models to their own business offerings. The market is moving at pace, and it was the cloud that fully accelerated its widespread popularisation.

More recent adaptations of the ‘as-a-service’ concept include Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS),and more, that utilise the cloud-based model and offer businesses increased flexibility to scale up or down based on need As the service is hosted in a shared environment, the service itself and updates can be rolled out instantaneously, and allows customers to outsource key business functions, revolutionising industry operations.

Today, products, services, and experiences are all being swept up in the phenomenon of Everything-as-a-Service (XaaS) – remote and on demand access to any business offering provided as a service.

The XaaS model

As early as 2018, it was predicted that the global XaaS market will surpass $340 billion by 2024[1]. The pandemic has only served to accelerate this trend as organisations have sought to adapt their business models to thrive in the new normal. In fact, 60% of adopters believe they are gaining a competitive edge through their use of XaaS[2]. Optimised running costs, freed up resources, faster implementation and providing customers with access to the most up-to-date technology are all benefits too great to ignore.

The rise of the ‘on-demand’ economy has created a shift in consumer behaviour where more is expected from businesses than ever before. The XaaS model uses ‘servitisation’, which is the transformation from merely selling products to also delivering services, to meet these increased demands. ‘Servistisation’ creates an opportunity for businesses to deepen customer relations through engagement and that collaboration is key to the success of an XaaS offering.

Beyond implementation to creating real customer value

Many companies have been using customer delivery techniques for years to analyse how customers are using products and rolling out updates accordingly based on feedback. However, the cloud has advanced this trend by making it easier for businesses to gain real time insights, facilitating a deeper understanding of customer journey.

It is now not enough for businesses to simply provide an as-a-service offering as a tick box. Investment in the model is key to creating a service that the customer sees true value in. Only by leveraging the cloud to engage and collaborate with customers, monitor their usage and make improvements to the product or service, accordingly, can you keep your business truly competitive.

The XaaS model naturally lends itself to a customer and provider collaborating to ensure that a user gets the best from what they are using

Engagement is the first building block to understanding consumption

Customers are directly connected to a business each and every time they use a product, service or function. The world is changing at speed and customers’ needs are evolving with it. Direct customer engagement allows companies to stay ahead of these changes and understand how, why, and when their product is being used.

Monitoring customer use to ensure a seamless user experience

Businesses can measure how customers are using a product, service or function through usage metrics such as adoption, what functionality is being used, and how quickly an action is completed. This gives them insight to identify and proactively fix any problems that could arise before they impact a customer’s experience. The XaaS model also presents companies with a space to evolve their service or test new strategies in an agile way.

Ongoing collaboration is vital for long-term investment

The XaaS model naturally lends itself to a customer and provider collaborating to ensure that a user gets the best from what they are using. In the old world of purchase and use, solution providers were not so connected to whether a customer managed to extract a purchase’s full value. However, flexibility and scalability has changed this dynamic.

Today, an ongoing collaboration between a customer and XaaS provider is key for long-term investment. The nature of the model means the buyer makes a repurchase decision every subscription term, reconsidering the value of the service more frequently than ever before. In fact, 80% of adopters agree that XaaS has led their organisation to reinvent business processes and even change how they sell to customers[3]. The XaaS model is seeing us into a new era, one in which we ‘pay by outcome’. This payment model holds businesses accountable for bolstering product value on a consistent basis.

XaaS: setting businesses up to thrive in the new normal

The XaaS model represents a new era for the ‘as-a-service’ model and its uptake is quickly becoming an essential building block for business growth. A true XaaS proposition must offer real engagement, close monitoring of a product in use, and a commitment to continuous improvement to meet today’s evolving customer demands. As more and more businesses implement an XaaS proposition it is increasingly difficult to stay competitive just by adding a digital connection and subscription model to current offerings. The as-a-service model is becoming an expectation for consumers, as the demand for convenience and ease is more prominent in a hybrid working world. Customers are now looking for true value in what they consume, and the as-a-service model is no exception.

[1] https://bit.ly/3YsYFV3

[2] https://bit.ly/3hzw1AL

[3] https://bit.ly/3hyOkGr

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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African Energy Week (AEW) 2024 to Navigate the Future of Oil & Gas Financing Amid Energy Transition

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15 hours ago

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September 9, 2024

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The African Energy Week: Invest in African Energy conference will gather industry leaders to explore oil and gas financing tools and strategies in the age of the energy transition

CAPE TOWN, South Africa, September 9, 2024/APO Group/ — 

As the global energy landscape shifts towards cleaner and more sustainable sources, Africa’s oil and gas sector faces challenges in securing financing for upstream projects. Nearly $3 billion was mobilized toward African energy projects in 2023 – with a significant portion directed towards natural gas – according to the African Development Bank (AfDB). As global markets evolve, African financing strategies must adapt to support both economic growth and long-term sustainability.

The Financing Upstream Oil & Gas in the Age of Transition session at African Energy Week (AEW): Invest in African Energy will explore how African oil and gas projects are securing financing in a rapidly changing landscape. The session will unpack evolving regulatory frameworks, innovative financing models and the balance between traditional fossil fuel and renewable energy investments. Moderated by Laura Sima, Director of S&P Global Commodity Insights, the panel will feature Trafigura Group Head of Upstream Finance Matthieu Milandri; Africa Finance Corporation Vice President Taiwo Okwor; and Project & Export Finance Africa Managing Director & Regional Head Fathima Hussain.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

To address shifting investment priorities, a dedicated Africa Energy Bank (AEB) has been launched by the African Petroleum Producers Organization and African Export-Import Bank. To be based in Abuja, the AEB aims to bridge Africa’s infrastructure funding gap and accelerate the development of energy projects across the continent. As a supranational institution, the AEB will provide critical funds for emerging oil and gas projects across Africa, supporting the sector amid the global energy transition, and is currently open for signature by prospective member states.

African natural gas projects have been a leading destination for foreign investment, as gas is considered a cleaner alternative and even labeled as “green energy” in the EU. Projects like Senegal and Mauritania’s Greater Tortue Ahmeyim LNG – led by bp and Kosmos Energy – have secured $4.8 billion in investment from a mix of equity from the IOCs and debt financing supported by multilateral banks. Blended finance – combining both public and private sector capital – has emerged as a critical solution to mobilizing large-scale financing in Africa’s energy sector. The TotalEnergies-led Mozambique LNG project represents a total post-FID investment of $20 billion, of which $14.9 billion comes from senior debt financing including a blend of loans from export credit agencies, multilateral finance agencies like the International Finance Corporation and the AfDB, and commercial banks.

Significant capital is also flowing to high-potential hydrocarbon basins with strong exploration prospects. In Namibia, multinationals TotalEnergies and Shell are continuing to explore the deepwater Orange Basin, with TotalEnergies allocating 30% of its one-billion-dollar exploration budget to the country in 2024 alone. Namibia’s government has been active in courting global financiers, emphasizing the need for sustainable energy development alongside oil and gas exploration and production. In Angola, TotalEnergies, Petronas and state-owned Sonangol secured a $6-billion FID for the Kaminho deepwater project in Block 20 that will develop the Cameia and Golfinho ultra-deepwater fields. The project will employ an all-electric FPSO unit, designed to minimize greenhouse gas emissions and eliminate routine flaring. Independent upstream company Invictus Energy also recently secured $10 million from local institutional investors for its Cabora Bassa project in Zimbabwe to develop the country’s first major oil and gas field.

The upcoming finance session will also position public-private partnerships as a mechanism for financing large-scale energy infrastructure projects, as well as de-risking investments. The Republic of Congo has advanced the development of its Banga Kayo block through an amended PSC with China’s Wing Wah Oil Company, enabling the commercialization of the block’s gas resources. In Nigeria, the $2.6-billion Ajaokuta–Kaduna–Kano gas pipeline is being financed through both public and private funds, with the Nigerian National Petroleum Company as the main financier and international lenders including the Industrial and Commercial Bank of China and Bank of China involved. Nigeria’s Federal Government has provided a sovereign guarantee covering 85% of the project’s costs, securing crucial financing and building investor confidence.

Distributed by APO Group on behalf of African Energy Chamber.

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The Islamic Development Bank Institute (IsDBI) Completes Pilot Implementation of Islamic Finance Strategic Mapping Framework in Kazakhstan

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21 hours ago

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September 9, 2024

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This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector

ASTANA, Kazakhstan, September 8, 2024/APO Group/ — 

The Islamic Development Bank Institute (IsDBI) (https://ISDBInstitute.org/) is pleased to announce the successful completion of its flagship Islamic Finance Strategic Mapping Framework (IF-MAP, formerly IF-CAF) (https://apo-opa.co/4cXPwti) pilot exercise in the Republic of Kazakhstan. This comprehensive assessment, conducted in collaboration with the Astana International Financial Centre (AIFC), aimed to identify key opportunities and challenges within the country’s Islamic finance sector.

The pilot initiative of IF-MAP was launched (https://apo-opa.co/3MyooGO) in June 2023, and involved extensive consultations with key stakeholders, including government agencies, financial institutions, and industry experts. The resulting tailored policy recommendations report, which outlines the sector’s progress and provides recommendations for future development, has been submitted to the AIFC.

AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors

As one of the key outcomes of the exercise, IsDBI and AIFC jointly developed the Kazakhstan Islamic Finance Country Report 2024 (https://apo-opa.co/3B4GwFv) which H.E. the Governor of AIFC, H.E. Mr. Renat Bekturov, launched on 6 September during the Astana Finance Days. The report highlights the immense potential of Islamic finance in supporting Kazakhstan’s economic growth and development.

In his welcome address, H.E. Mr. Renat Bekturov noted: “This report not only provides a comprehensive overview of the Islamic finance industry but also highlights our shared vision for the future.  AIFC’s commitment to promoting Islamic finance is evident through favorable conditions offered to Islamic financial companies to operate in both the retail and corporate sectors. The report is an invaluable guide for investors, policymakers, and stakeholders.”

Commenting on the successful completion of the pilot exercise, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, stated, “We are delighted to have collaborated with the AIFC on this important initiative. The Kazakhstan Islamic Finance Country Report offers a valuable analysis of the sector’s current state and future prospects. We believe that the report, together with the IF-MAP policy recommendations submitted to the AIFC, will be instrumental in guiding policymakers, investors, and financial institutions as they work to harness the full potential of Islamic finance in Kazakhstan.”

The IsDB Institute remains committed to supporting the growth and development of the Islamic finance industry worldwide. Through its research, training, and capacity-building programs, the Institute seeks to contribute to the creation of a more inclusive and sustainable financial system.

The Kazakhstan Islamic Finance Country Report 2024 is accessible on IsDBI website here: https://apo-opa.co/4ge7jQ1

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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ST Telemedia Global Data Centres Reinforces Commitment to Digital India, Invests US$3.2 billion to add 550MW Data Centre Capacity

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21 hours ago

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September 9, 2024

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SINGAPORE – Media OutReach Newswire – 6 September 2024 – ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest-growing data centre colocation services provider headquartered in Singapore, today announced a significant investment of US$3.2 billion (INR 26,000 crores) to expand its data centre capacity in India by a substantial 550MW, nearly tripling the company’s IT load capacity to meet the demands of India’s thriving digital economy, over the next 5-6 years.

This strategic investment reflects STT GDC’s confidence in India and the growth of its digital economy, as well as aligning with the burgeoning demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and growing adoption of AI applications. This investment also further solidifies our market leadership in India, where we already command about 28% of market share by revenue.

STT GDC India is majority-owned by STT GDC in partnership with Tata Communications Ltd, which holds a minority stake in the company. STT GDC India’s portfolio consists of 28 data centres across 10 cities throughout India. Today, its data centre portfolio has a total combined capacity of over 318MW of IT load, with a well-diversified portfolio of about 1,000 enterprise customers that include many Fortune 500 companies. More recently, STT GDC India was recognised as a Great Place to Work for the fifth consecutive year, as well as one of the Best Places to Work in Asia.

“As we celebrate STT GDC’s 10th anniversary this year, embarking on this ambitious expansion is a sign of our confidence in Digital India and the future of one of STT GDC’s strategic and fastest growing markets globally. Prime Minister Modi’s vision for Digital India has paved the way for opportunity; today the India digital economy’s growth rate of almost three times overall GDP growth is putting the country on pace to achieve a US$1 trillion digital economy by 2027-20281. At STT GDC, we want to play an active role in co-investing and contributing to India’s long-term success by investing in the foundational digital infrastructure that will help further accelerate Digital India. We are excited about the opportunities ahead and are confident in our ability to contribute significantly to India’s digital transformation,” said Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres.

STT GDC, along with several other Singapore business leaders, participated in a Business Roundtable with Prime Minister Narendra Modi hosted by the Singapore Business Federation on 5 September 2024.

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1India digital economy: India to be $1 trillion digital economy by FY28: IT minister Rajeev Chandrasekhar – The Economic Times (indiatimes.com)

About ST Telemedia Global Data Centres
ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/.

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