Technology experts in Nigeria have advised businesses to leverage tech solutions in order to survive the harsh operating environment. This, they said, will also ensure they remain competitive as every successful business now rides on digital transformation.
The experts spoke at the 2022 edition of Doing Business in Nigeria Conference (DNBC).
According to them, there were many companies that were well-known in the past but had packed up because they failed to embrace innovation and the wind of digital transformation that is sweeping across business sectors.
The experts, which include the Country Manager Microsoft Nigeria and Ghana, Olatomiwa Williams, the CEO of Arravo, Dr. Ayo Adegboye, Co-CEO of OPay, Mr. Olu Akanmu, and Head of Sales Middle East & Africa at Meta, Jane Egerton-Idehen, are of the view that technologies such as Artificial Intelligence (AI), Robotics, Cloud Computing, Internet of Things (IoT) will continue to drive business sustainability.
What they are saying
- Presenting a keynote on the theme: “Embracing Technology for Business Sustainability” Olatomiwa Williams said: “In Africa and Nigeria, yes, we have infrastructure challenges. We have a resource constraint, but we still have the opportunity to leapfrog by leveraging technology because we don’t have the legacy of older technologies that other developed countries have invested in. So, it is a huge opportunity for us. And we also have the opportunity to leapfrog because right now the barrier to entry into technology is very slim.”
- “But beyond just embracing technology, the endpoint is how do you use technology to transform your business to deliver a compelling customer experience? How do you keep the business growing? A compelling business experience is not just only about what you can do within your organisation, how can you leverage partners? How can you leverage the existing infrastructure that can help you to scale up quickly?” she added.
- Also speaking at the conference, Olu Akanmu said, “Technology makes businesses more efficient by helping us to get more out of existing markets. The other part is that it could also create new markets where we thought markets does not exist.
- Speaking on how businesses can leverage technology at a cheaper cost, Ayo Adegboye said, “Organisations now need to start considering the economies of scale in terms of what they need to run their businesses. So, I tell my customers, don’t let us start worrying about I want this or that technology. The focus of organisations should now be on service level agreements. Just tell the service provider, this is what I need to achieve, how do I get it? So, if you need to now outsource that to a system integrator, who probably will be sharing the same resource with five or six customers, you will get a significant drop in your OPEX. Thus, you can achieve more without spending more still leveraging on technology.”
- In her remarks, Jane Egerton-Idehen said, “One of the amazing things I’ve seen working for Meta is the ability to use technology to create an inclusive environment. How many businesses could afford a TV ad or radio ad? I ran a startup I kept spending millions and not every business could afford it. What the digital media or technology has done is to level that playing field. So, it’s actually disrupting sectors. Any small business can be on Facebook or Instagram, Tik Tok or Snapchat and for as little as N5000 can place an ad and reach people wherever they are anywhere in the world. That is the power of technology.”