Welcome!

Microsoft Cloud Authors: Elizabeth White, Yeshim Deniz, Serafima Al, Janakiram MSV, John Katrick

News Feed Item

Digital China Announces FY2012/13 Third Quarterly Results

- Reports Growth amidst Headwinds

HONG KONG, Feb. 26, 2013 /PRNewswire/ --

Results Highlights:

For the nine months ended 31 December 2012:

  • The Group achieved trend-bucking growth in business and recorded turnover of HK$56,674 million, up 6.83% year-on-year.
  • Gross profit margin for the third quarter was 8.01%, reversing the decline in the first half of the year.
  • Profit attributable to equity holders of the parent amounted to HK$1,171 million, up 11.43% year-on-year.
  • Basic earnings per share were 109.64 HK cents, up 11.75% from 98.11 HK cents for the corresponding period of last fiscal year.
  • Credit to resolute implementation of stringent cost management and control policy, the operating expense ratio was substantially lower at 5.30 % as compared to 5.65% reported for the corresponding period of last financial year.

Digital China, China's largest integrated IT services provider, today announced the unaudited consolidated third quarter results of the Company and its subsidiaries (collectively the "Group" ; Stock Code: 00861.HK) for the nine months ended 31 December 2012 (the "Period").

In response to uncertainties and challenges in the macro-environment as well as various market sub-segments in 2012, the Group continued to implement the guiding principle of "prudent progress, streamlined establishment with enhance efficiency and with a focus on [email protected] City" and was able to report trend-bucking stable growth in revenue and profit amid intense market competition thanks to its comprehensive and balanced business distribution which also enabled stable and healthy development in results under overall macroeconomic weakness. Market share management was enhanced in Distribution Business and Systems Business, while close cooperation with core vendors was maintained to sustain stable market share. Supply Chain Services Business reported improvements in business value thanks to ongoing optimization of its business mix. Our Services Business increased effective coverage of sub-segment industries by increasing the proportion of software and services business. The steady progress of the "[email protected] City focus" strategy provided an effective driving force for the Group's transformation to a services-oriented business.

The Group launched the nation's first integrated citizen services platforms in Fuzhou and Foshan in December of the current financial year with the benefit of its focus and vision in the development of [email protected] Cities. Meanwhile, the Group was included in "Forbes Asia Fab 50" for the fourth year in a row, reflecting ongoing recognition from the capital market.

Financial Review

During the Period, the Group recorded turnover of approximately HK$56,674 million, a growth of 6.83% year-over-year. Against the slowdown in market growth, all business units reported stable revenue growth as the Group adopted the approach of "progress subject to stability" and explored the depth of the market to identify new business opportunities by continuously strengthening our ties with vendors and channels / customers. Meanwhile, on the back of ongoing efforts by our business units to optimize their business mixes with a strong focus on gross profit margin improvement, the Group reported gross profit margin of 8.01% for the third quarter of this financial year to reverse the decline in the second quarter. Profit attributable to equity holders of the parent for the nine months ended 31 December 2012 of the current financial year amounted to approximately HK$1,171 million, sustaining a double digit growth of 11.43% as compared to approximately HK$1,051 million for the corresponding period of last financial year. Basic earnings per share amounted to 109.64 HK cents, representing an 11.75% growth compared to 98.11 HK cents for the corresponding period of last financial year.

Management of the Group continued to implement a stringent policy in risk management and control. Key tasks in risk management and cash flow management were effectively implemented with measures to optimise business flows and enhance management of receivables. The Group's net cash inflow from operating activities amounted to approximately HK$615 million for the nine months ended 31 December 2012. Net cash inflow from operating activities for the third quarter amounted to approximately HK$276 million in sustained positive performance. Meanwhile, in view of the slowdown in revenue growth, the Group further strengthened stringent cost management and control policies formulated at the start of the year, making constant improvements to our resource utilisation efficiency by streamlining our product lines and staff positions. The Group's operating expense ratio for the nine months ended 31 December 2012 was substantially lower at 5.30% as compared to 5.65% reported for the corresponding period of last financial year with total operating expense achieving zero growth for the year.

Segment Results


Nine months ended 31 December


(HK$ million)

FY 2012/2013

FY 2011/2012

Change (%) YoY

Distribution*




Segment revenue

28,445

28,819

-1.30%

Segment gross profit

916

1,273

-28.05%

Segment results

228

463

-50.70%

Systems*




Segment revenue

20,620

18,171

+13.48%

Segment gross profit

1,894

1,574

+20.38%

Segment results

988

793

+24.65%

Supply Chain Services *




Segment revenue

854

873

-2.12%

Segment gross profit

177

168

+5.20%

Segment results

36

22

+60.68%

Services




Segment revenue

6,755

5,188

+30.21%

Segment gross profit

1,125

975

+15.34%

Segment results

460

236

+94.98%

*Restate: The Group started to make adjustments to business segments in the current fiscal year:

1. A sub-segment of the "Supply Chain Services Segment" will be devoted to the provision of professional supply chain management services including one-stop logistics and maintenance services, to hi-tech corporate customers and industry customers; another sub-segment will provide purchasing services to chain electronic stores (CES) for terminal products such as PC, notebook, smart devices, digital products, where CES is deemed as a retail format and an effective complement to the Distribution Segment which aims at a comprehensive coverage of all business formats. Therefore, this sub-segment has been reallocated to the Distribution Segment. In order to provide a more appropriate presentation for the Group's operating segment information, the Group reallocated this sub-segment from the "Supply Chain Services Segment" to the "Distribution Segment" at the start of this financial year and the relevant results for the corresponding period of last financial year have been restated accordingly;

2. A sub-segment of the "Distribution Segment" will continue to focus on full channel coverage for all retail formats for IT products and devices, developing and supplying IT products and solutions of broader variety and higher value to consumer and SMB customers. Another sub-segment in the original Distribution Segment, covering products such as PC, servers, will become an important part of IT infrastructure building in line with the development of cloud computing, which will be more compatible with the business positioning of the Systems Segment, which aims to become a supplier of IT infrastructure products and solutions. Therefore, this sub-segment has been reallocated to the Systems Segment. In order to provide a more appropriate presentation for the Group's operating segment information, the Group reallocated this sub-segment from the "Distribution Segment" to the "Systems Segment" at the start of this financial year and the relevant results for the corresponding period of last financial year have been restated accordingly.

Business Review

Services Business (primary focus on the Industry Market, offering IT planning and IT systems consultation, design and implementation of industry application software and solutions, outsourcing of IT system operation and maintenance, as well as products and services in systems integration and maintenance)

During the Period, the Services Business reported turnover of approximately HK$6,755 million, up 30.21% year-over-year. Turnover from the Services Business for the third quarter increased by 68.31% year-over-year, reflecting realisation of deferred customer demand. Management of the Group made proactive adjustments to its business strategies in response to volatility of industry market and succeeded in orchestrating substantial growth for the Services Business as a whole by integrating the Group's resources and strengthening business development in the government corporation industry and the financial industry to capture opportunities arising in these sub-segments. During the Period, the financial and government corporation sectors reported strong growth rates of 56.97% and 57.37%, respectively.

The Group continued to drive its transformation to a services-oriented business and to enhance the development of pure software and pure services businesses in various industry sub-sectors. Related to the financial industry, a new business model of "Financial Cloud Services" has been widely accepted by the market and customers, as more than 50 township banks have been signed up for the provision of operational services such as core business systems, credit systems and Internet banking systems. Moreover, in addition to ongoing provision of software and services to the State Administration of Taxation, our taxation business continued to sign up new customers including the Shandong Local Taxation Bureau, Ningbo Local Taxation Bureau, and Hainan Local Taxation Bureau. Breakthroughs in tax payment services have also been achieved with the successful implementation of online tax payment at Guizhou Local Taxation Bureau, Guizhou Bureau of the State Administration of Taxation, Shaanxi Bureau of the State Administration of Taxation, Gansu Bureau of the State Administration of Taxation and Anhui Local Taxation Bureau.

With the benefit of its focus and vision in the development of the [email protected] City, the Group launched the nation's first integrated citizen services platforms in Fuzhou and Foshan on a pilot basis in December 2012. The platforms marked a change of the role of the Group in its [email protected] City business from a solution provider to an operational services provider, and further reinforced its position as an expert in [email protected] City. For the nine months ended 31 December 2012, the [email protected] City business operated in 69 cities across the nation and the contracts signed for solutions and projects increased by 41%, with solutions being implemented in numerous cities across nation. Following the growing maturity and successful implementation in various cities of the citizen card project and meat and vegetable source system, data application solutions were also implemented in Wuhan, Lanzhou and Xinjiang, while cloud computing solutions were successfully implemented in Lanzhou and Zhangjiagang, with exponential growth in contract amount signed.

Distribution Business (primary focus on the SMB & Consumer Markets, engaging in the distribution of general IT products such as notebook computers, desktop computers, peripherals, accessories and consumer IT products)

There was a notable decline in the businesses of our principal products of notebook computers and peripherals in 2012 as the impact of the macroeconomic slowdown became evident on demand in the IT consumer market. The effect of new products and technologies launched in the third quarter of the financial year as a driving force for the consumer market has yet to be recognized. During the Period, the Group was increasingly concerned with stable and healthy business development, as it resolutely strengthened the implementation of its business strategy of "streamlined establishment with enhanced efficiency." Through stringent management over the input of business resources and corresponding output, proactive measures were taken to streamline and cut back product lines with low output, while continued efforts were made to enhance in-depth cooperation with vendor-ends and the channel-ends. These efforts have resulted in the retention of stable market share. During the Period, the Group's Distribution Business reported turnover of approximately HK$28,445 million, a slight decrease compared to the corresponding period of last financial year. Gross profit margin for the third quarter improved significantly subsequent to a temporary decline in the second quarter owing to stock clearance measures to avert potential business risks.

During the Period, the Group's coverage of CES and e-commerce channels was enhanced by further breakdown of channels and close monitoring of changes and development in retail formats. The Group continued to enhance cooperation with large-scale retail hypermarkets. In particular, we have strengthened cooperation with Gome and Walmart in connection with Apple products. During the Period, CES business reported rapid growth of 45.63% year-over-year. In connection with e-commerce, the Group strengthened strategic cooperation with core customers such as 360buy, 51buy and Suning, etc to leverage growth opportunities in the e-commerce industry and sustain rapid growth for e-commerce business, so that it will provide another important source of revenue in addition to the traditional IT product channel and CES channel.

Systems Business (primary focus on the Enterprise Market, offering value-added distribution of systems products such as servers, networking products, storage products and packaged software)

The Systems Business of the Group effectively capitalised on opportunities arising from market growth in the first half of the year and reported significant growth. During the Period, turnover amounted to approximately HK$20,620 million, up 13.48% year-over-year, while gross profit margin also increased by 53 basis points to 9.19%, offering effective support to the achievement of the Group's overall results. While demand in the Enterprise Market was affected by the growth slowdown of macro-economy in the third quarter of this financial year, profit growth for our Systems Business remained robust thanks to our efforts to increase our quarterly gross profit margin and stringent internal management control.

During the Period, The Group's Systems Business worked closely with key vendors. Through effective market share management, cooperation in existing businesses was fortified to secure stability and growth in market share for major areas. Moreover, we also worked with key vendors to monitor developments in novel areas such as cloud computing and big data, commencing strategic cooperation with leading players in cloud computing such as Cisco, Oracle and IBM, etc in a joint effort to plan for cloud computing data centre solutions as well as industry systems solutions for the telecommunications, financial and government sectors, etc.

Supply Chain Services Business (primary focus on the markets of Hi-tech Industries, Branded e-Commerce Platform Operators and Branded Service Providers, providing "one-stop" supply chain consultancy and execution in logistics, business flow, capital flow and information flow)

The Group's Supply Chain Services Business took the initiative to adjust businesses commanding lower gross profit as part of its ongoing efforts to optimise our business mix and improve business distribution. Through persistent monitoring and in-depth analysis, new business development endeavours were made in the logistics segment in relation to industrial sectors, while the proportion of the services business increased in relation to the service station segment. Such efforts drove ongoing growth in the overall profitability of the Supply Chain Services Business. Our Supply Chain Services Business reported turnover of approximately HK$854 million for the nine months ended 31 December 2012. Gross profit margin increased by 145 basis points to 20.72%, as compared to the corresponding period of last financial year. The logistics business reported overall revenue of approximately HK$328 million, sustaining rapid growth with a 57.90% increase year-over-year. Services station business continued to optimise business mix and strengthen station management to enhance profitability through servicing ability. The Group sustained healthy growth in revenue from the services station business and the gross margin of services station business was 624 basis points higher as compared to the corresponding period of last financial year.

Market Outlook

In 2012, the economy embraced a cycle of sluggish growth. Since the beginning of the fourth quarter, there has been increasing volatility and challenges in the sub-segment markets. More adverse conditions are expected overall as there are few signs of recovery in the consumer market, while the Enterprise Market is also facing a slowdown. In terms of general strategy for the final quarter of the current financial year, the Group management will continue to implement the guiding principle of 'prudent progress, streamlined establishment with enhanced efficiency and with a focus on [email protected] City' proposed at the start of the year, and will also closely monitor market changes, remain flexible and respond resolutely. In terms of business strategy, management will reinforce its existing business foundation through market share management, customer planning and increased efforts to develop new industries and customers for new business growth niches. In terms of the [email protected] City business, we will continue to implement the trial operation of integrated citizen services platforms and actively investigate operating models for the [email protected] City, while enhancing our marketing efforts for [email protected] City solutions. In connection with management and control strategy, the Company will continue to strengthen management of risk management and operating cash flows to assure healthy and stable business growth. Management will endeavour to overcome unfavourable factors for business operation in the fourth quarter, striving to accomplish business targets and to continue delivery of value to shareholders.

About Digital China

Digital China (Stock Code: 00861.HK) is the largest integrated IT services provider in the Greater China area. Digital China provides end-to-end integrated IT services for customers on the back of a complete IT services value chain that covers IT planning and consultation, IT infrastructure system integration, design and implementation of solutions, design and development of application software, outsourcing of IT system operations and maintenance, IT distribution and maintenance, etc.

Digital China is driving the [email protected] City initiative in tandem with China's 12th Five-Year Plan. By facilitating consolidation and innovation through IT advances such as cloud computing, mobile internet and the internet of things, the Group seeks to advance China's new urbanization progress. As the largest integrated IT services provider in China, Digital China has comprehensive service capability and business coverage that ranges from [email protected] City framework design and planning, [email protected] City IT infrastructure implementation to [email protected] City operational services. Leveraging on its extensive expertise and experience in informatization, Digital China has become China's leading [email protected] City expert that boasts a forward-looking theoretical structure and has the largest stock of successful cases.

For additional information about Digital China, please visit the Group's website at www.digitalchina.com.hk.

For investor enquiries:




Neal He

Alex Tso

Digital China Holdings Limited

Digital China Holdings Limited

Tel: 852-3416-8133

Tel: 852-3416-8077

Email: [email protected]

Email: [email protected]



For media enquiries:




Selena Li

Henry Chik

Digital China Holdings Limited

PRChina Limited

Tel: 86-10-8270-7192

Tel: 852-2522-1368

Email: [email protected]

Email: [email protected]



Camille Xiong

David Shiu

PRChina Limited

PRChina Limited

Tel: 852-2522-1838

Tel: 852-2521-2823

Email: [email protected]

Email: [email protected]

 

CONDENSED CONSOLIDATED INCOME STATEMENT

 



Three months ended

31 December 2012


Nine months ended

31 December 2012


Three months ended

31 December 2011


Nine months ended

31 December 2011



(Unaudited)


(Unaudited)


(Unaudited)


(Unaudited)



HK$'000


HK$'000


HK$'000


HK$'000










REVENUE                                   


19,269,928


56,673,525


18,912,685


53,050,532










Cost of sales


(17,727,027)


(52,561,428)


(17,482,989)


(49,060,510)










Gross profit


1,542,901


4,112,097


1,429,696


3,990,022










Other income and gains


232,587


650,626


208,711


590,367










Selling and distribution costs


(762,831)


(2,182,510)


(838,287)


(2,204,387)

Administrative expenses


(129,004)


(416,651)


(132,097)


(397,038)

Other operating expenses, net


(233,829)


(403,318)


(100,275)


(397,782)

Total operating expenses


(1,125,664)


(3,002,479)


(1,070,659)


(2,999,207)










Finance costs


(66,260)


(223,116)


(67,211)


(229,345)

Share of profits and losses of:









Jointly-controlled entities


(965)


214


(1,053)


(1,462)

Associates


33,928


23,654


37,096


51,929










PROFIT BEFORE TAX


616,527


1,560,996


536,580


1,402,304










Income tax expense


(130,429)


(229,769)


(109,249)


(258,382)










PROFIT FOR THE PERIOD


486,098


1,331,227


427,331


1,143,922










Attributable to:









Equity holders of the parent


429,915


1,170,987


385,551


1,050,871

Non-controlling interests


56,183


160,240


41,780


93,051












486,098


1,331,227


427,331


1,143,922










EARNINGS PER SHARE 
     ATTRIBUTABLE TO
     ORDINARY EQUITY
     HOLDERS OF THE
     PARENT









Basic




109.64 HK cents




98.11 HK cents










Diluted




108.23 HK cents




97.61 HK cents

 

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

 



At

31 December 2012


At

31 March 2012



(Unaudited)


(Audited)



HK$'000


HK$'000

NON-CURRENT ASSETS





Property, plant and equipment


1,421,337


1,236,475

Investment properties


216,779


305,005

Prepaid land premiums


189,622


163,215

Goodwill


239,012


236,377

Intangible assets


9,148


4,591

Investments in jointly-controlled entities


125,252


33,224

Investments in associates


833,203


780,739

Available-for-sale investments


319,097


214,321

Deposit paid for acquisition of land use right


158,645


-

Deferred tax assets


55,697


32,135

Total non-current assets


3,567,792


3,006,082






CURRENT ASSETS





Inventories


5,426,104


5,154,490

Trade and bills receivables


11,932,245


10,787,427

Prepayments, deposits and other receivables


4,321,468


3,527,378

Derivative financial instruments


47,867


92,440

Cash and cash equivalents


4,197,774


4,253,966

Total current assets


25,925,458


23,815,701






CURRENT LIABILITIES





Trade and bills payables


12,038,271


12,315,472

Other payables and accruals


3,251,521


2,728,849

Tax payable


270,071


201,525

Interest-bearing bank borrowings


2,295,100


2,323,895

Bond payable


37,023


-

Total current liabilities


17,891,986


17,569,741






NET CURRENT ASSETS


8,033,472


6,245,960






TOTAL ASSETS LESS CURRENT LIABILITIES


11,601,264


9,252,042






NON-CURRENT LIABILITIES





Interest-bearing bank borrowings


3,102,494


1,692,000

Bond payable


-


36,615

Total non-current liabilities


3,102,494


1,728,615






NET ASSETS


8,498,770


7,523,427






EQUITY





Equity attributable to equity holders of the parent





Issued capital


109,341


109,273

Reserves


7,531,854


6,286,928

    Proposed final dividend


-


424,986



7,641,195


6,821,187

Non-controlling interests


857,575


702,240






TOTAL EQUITY


8,498,770


7,523,427

 

SOURCE Digital China Holdings Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
BnkToTheFuture.com is the largest online investment platform for investing in FinTech, Bitcoin and Blockchain companies. We believe the future of finance looks very different from the past and we aim to invest and provide trading opportunities for qualifying investors that want to build a portfolio in the sector in compliance with international financial regulations.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy high-performance Java applications that use Java 3D and/or Jogl without having to run an installer. We are subject to the constraint that the applications be signed and deployed so that they can be run in a trusted environment (i.e., outside of the sandbox). Further, we seek to do this in a way that does not depend on bundling a JRE with our applications, as this makes downloads and installations rat...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...