2020 AND DIGITAL TRANSFORMATION; SIMPLEX PLANS!
In a recent interview with our CEO; Mr Femi Adeniyi, he shared Simplex plans for 2020 and how our recent partnership with Appian Digital Platform will help our clients achieve their technology ambition seamlessly
- Interviewer: Mr. Femi, from a technology standpoint, what do you consider the biggest challenge for financial services organisations in Nigeria?
Femi Adeniyi: This is a very interesting question. In today’s clime where competition is stiff between financial services organisations (FSI), the need to leverage on technology to foster operational efficiency and meet organisations bottom line is super critical, hence, the biggest challenge for financial services in Nigeria from my experience is making a right technology decision. Majority of FSI in Nigeria have once invested chunks of their revenue towards acquiring some form of enterprise wide or top level technology solution to kick-start or revolutionize their business processes, but most times have met stumbling blocks in the early adoption of such technology for many reasons.
Investing in foreign software is good but I must say here that most of these software are not built with our local users and their business processes in mind. So, I always advise that senior level managers and Technology buying committee should carefully consider all factors before making an investment in technology as that alone can be a catalyst for achieving their organizational goals
- Interviewer: As you think about the future, what trends do you see shaping the financial services industry?
Femi Adeniyi: Just like every other industry, financial services industry is witnessing a continuous and disruptive digitization and the adoption of new and emerging technologies to bring in operational efficiencies, enhance speed-to-market and deliver superior customer experiences. This implies that there are a lot of trends that has been shaping the industry.For me, top on the list are data analytics, Low code development and robotic process automation. These 3 will reshape the financial services landscape.
- Interviewer: Which brings me to the topic of digital transformation. It’s a hot topic, but it means different things to different people. How would you define digital transformation for non-tech, senior executives?
Femi Adeniyi: Digital transformation is one of those buzz words often thrown around without much thought, largely because it’s fashionable and impressive but simply put, digital transformation is basically leveraging technology to achieve business objectives. It is the use of new, fast and frequently changing digital technology to solve problems. So, it’s about solving problems in a seamless, faster and cost effective manner. Its how business leaders can achieve customer experience, economies of scale, employee satisfaction, product branding leveraging etc. leveraging technology
- Interviewer: What do you consider the biggest barriers to digital transformation in the Nigeria business landscape?
Femi Adeniyi: The greatest barrier is traditional mindset of some C- Executives which is basically trying to solve today’s problem with the approach and solutions of the past. So, business leaders need to transition from traditional mindset to a digital mindset. A digital mindset is not merely the ability to use technology. It is a set of attitudes and behaviors that enable people and organizations to foresee possibilities and rightly position themselves.
- Interviewer: What is Simplex doing at the moment to ensure that your clients and other organizations embrace digital strategies to scale exponentially?
Femi Adeniyi: We are creating a lot of awareness around digital transformation and how organizations can start leveraging technologies effectively. I believe if technology is effectively leveraged, organizations can scale exponentially and achieve their corporate goals. We are having these conversations with our clients by holding workshops and seminars that focuses on each of the technology forces affecting the industry, ensuring that all our clients are aware of this technology trends and plug themselves in appropriately.
- Interviewer: You just recently partner with Appian, which makes you the only partner in West Africa. What led to that decision and what should we expect from this partnership?
Femi Adeniyi: Yes. We are really super pumped up about this partnership. We realized that for organizations to scale faster, a good technology platform is essential. APPIAN is a digital transformation platform that brings together low code, artificial intelligence, machine learning and robotic process automation together which allows organization to build application IN DAYS IF NOT HOURS. It takes 12 – 24 months to develop and implement an enterprise software and this always affect business performance but with APPIAN, software development has become easier than ever.
Our goal is to help organisations change from just buying technology software to owing a technology platform where they can build any application. So going forward, lots of our clients will be able to build their own application from the Appian Digital platform and achieve faster time to value and faster time to market with their products and services.
- Interviewer: Matt Calkins, Founder and CEO, Appian recently said that all companies will be a software company in the future, do you agree with the statement? And is it a challenge for Technology Service providers in Nigeria?
Femi Adeniyi: So, I was at the conference where he made that statement and I totally agree with it. In recent times, especially in our climes, it is increasingly getting difficult to get good and experienced developers who will be readily available to develop enterprise applications or even address all the application concerns of any organisations. Good developers are hard to come by as the best ones has been employed by the top OEMs or moved to Canada and US (A very big problem). Therefore, with low code development platforms like Appian, business users can now design and develop custom and enterprise applications that meet their requirements and addresses their pain points. This is already happening globally and this is already revolutionizing the software development space in Nigeria. So, I do not see it as a challenge, I see it as a win-win for both TSP and their clients
- Interviewer: Last question. Tell me about your expectations for 2020 and beyond. And to add, what should we expect from Simplex?
Femi Adeniyi: We’ve always focused on ensuring that our clients are well resourced with the right technology to achieve their corporate goals, so in 2020, we are going on a drive to ensure that our clients adopt the Appian Digital Transformation Platform – simply put. With the ability to develop technology applications in less time, cost of deployment will reduced and productivity will be increased for our clients. The immediate effects of this is that our clients will quickly adapt to market changes and customer needs, improve agility achieve a superior customer experience and ultimately be at the cutting edge of technology in their various industries. So, watch out for us in 2020.