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Naresh Manchanda, CEO, Risk, Technology, and Digitalisation
MBG Corporate Services highlights the essential three P’s in business technology
There’s a famous saying by Bill Gates, the co-founder of Microsoft, in which he says: “Automation applied to an inefficient operation will magnify the inefficiency.”
This especially holds true in the case of business. Technology in business is a decades-old topic, if not older. However, it has been only recently that technology has come to encompass every aspect of business. This has produced not only opportunities and challenges, but also entire new paradigms in business practice. It is easy for firms today, challenged by ever growing sets of technologies that are applicable for more parts of their business, to mistake the trees for the woods.
Gates’s point, when applied to automation, or any specific domain, is an obvious one. But the words can have a more profound interpretation: the importance of the core business.
Your technology strategy must be based on the deepest, most complete understanding of your business. While a raft of technology advisories have mushroomed in recent years to serve that space, getting the right mix remains a challenge for most businesses.
Madan Mohan, Director, Technology Risk Advisory
At MBG Corporate Services, where our technology advisory practice is rooted in cross-functional domain expertise, we outline below the three P’s — broad critical areas that businesses must focus on:
Protection (Security)
Your business adds new data security risks with each essential layer of technology, for example, through third party stacks in the supply chain. Not only must you protect your data, but also correctly assess the cost-benefit of the proposed solutions vis-à-vis the business.
Our solutions are based on a thorough audit and gap assessment of your IT infrastructure and protocol, rigorous penetration testing and expert domain inputs.
Our approach flows along the two streams of information security standard compliances and cybersecurity offerings. Some highlights include:
Information Security Standards
- ISO 27001 certification: implementation of ISO 27001 certification — the global standard for all information security management systems on legal, physical and technical controls for companies.
- ADHICS: compliance with the UAE’s Abu Dhabi Healthcare Information and Cyber Security (ADHICS) standard for Abu Dhabi-based healthcare entities.
- NESA: compliance with the UAE’s National Electronic Security Authority (NESA) mission towards the protection of Critical Information Infrastructure (CII)
Cybersecurity Offerings
- Vulnerability Assessment and Penetration Testing (VAPT): a comprehensive range of penetration tests on infrastructure, applications, mobile security, and wireless security setup of your company.
- Security architecture review: comprehensive review of your cybersecurity architecture and design.
Privacy
Data Privacy — the combination of legal, compliance, technology and security factors around the collection, storage and use of consumer data — is one of the hottest buzzwords globally today. The growing awareness and concern around it has led to a slew of privacy legislations that businesses must follow. Our technology team helps you achieve all major compliances such as:
- HIPPA – Health Insurance Portability and Accountability Act: The US federal law on national standards to protect sensitive patient health information.
- GDPR – General Data Protection Regulation: The EU law, perhaps the most well-known globally, which requires businesses to protect the personal data and privacy of EU citizens.
- ADGM Data Law: The Abu Dhabi Global Markets data law attracts non-compliance penalties of upto a maximum of $28 million — the highest in the region.
- DIFC Data Law, UAE Data Privacy Law: Two other very important UAE-origin laws (among others).
Privacy regulatory compliance is critically important, not only because non-compliance attracts strict penalties, but also because it has implications on goodwill and brand equity — key topline drivers in a world of ever more socially aware and ethics-conscious consumers.
Our teams provide comprehensive A-Z compliance roadmaps comprising all elements, from stakeholder engagement and communication, cross border data transfer assessment and data flow mapping, to implementation and company culture.
Process
While ‘Protection’ and ‘Privacy’ may be imagined as ‘defensive giving’, ‘Process’ is about proactively harnessing technology to drive business results. Process encompasses several elements, such as data analytics, functional management, ERP, CRM, and so on. Our technology advisory has strong offerings on all of these elements. In this piece we discuss automation — a big business results driver today. Specifically:
Robotic Process Automation (RPA): Software programmed to perform basic, simple, and repetitive tasks such as data entry , reporting, invoicing and after-sales support. This not only drives down costs and time, but also frees up resources for higher value activity. Our experts identify tasks for RPA, develop proof of concept, determine operating model, select partners and drive execution roadmap.
Business Process Re-engineering (BPR): This deals with the redesigning and streamlining of processes through automation to unlock greater customer value and higher company margins. While RPA focuses on discrete tasks, BPR is about larger-scale automation of entire processes. This is typically larger cost and greater lock-in. Our services include change management, process identification and optimisation, benchmarking and documentation, and execution.
Winning with MBG Corporate Services
Our technology advisory has over fifteen services within and across these Ps. As a highly reputed business consultancy, our technology advisory is backed up by high quality experts from our other verticals, including Audit and Assurance, Risk, Legal, Tax, M&A, and Strategy.
We ensure the focus is on the ‘Business’ in ‘Business Technology’ — your business.
Contact us for more:
uae@mbgcorp.com / +971-52-6406240
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