Category: Fusionex

Powering Alibaba’s eWTP with big data analytics, AI and machine learning

KUALA LUMPUR: It has been more than a year since the Digital Free Trade Zone (DFTZ) initiative was launched in Malaysia and although public attention was only revived a week ago during the launch of Alibaba Group Holding Ltd’s first regional office here, several local companies have already been hard at work making the ambitious project a reality.

Big data analytics firm Fusionex International Plc is one of them, having led a consortium which secured a contract to provide the e-Services platform for the DFTZ from the Malaysia Digital Economy Corp.

The awarding of the contract was announced in November last year and according to Fusionex, has since been up and running with more than 3,000 small and medium enterprises (SMEs) on board currently.

“More and more of [these companies] are starting to appreciate that it is important to level up and capitalise on the robust growth in e-commerce and the export market,” said Datuk Seri Ivan Teh, Fusionex founder and chief executive officer of Fusionex.

He added that many local SMEs that Fusionex has spoken to are receptive, open-minded and cognisant of the global language.

“They are open and want to embrace technology as long as it’s easier, faster, better, and more cost-effective than the status quo. In short, they are constructive but might be facing challenges in areas such as market access, funds, modern skills and technology. This is where DFTZ’s e-Services can assist them,” Teh told The Edge Financial Daily in an email exchange.

fusionex founder

The platform is key to realising the e-World Trade Platform (eWTP) that has been one of Alibaba’s key initiatives under the DFTZ banner and aims to provide Malaysian SMEs access to global consumers via e-commerce.

“The e-Services platform functions as a one-stop digital trade facilitation platform, that is integrated with a multitude of business service platforms, e-marketplaces, government agencies, logistics providers, freight forwarders, agents, SMEs and other service providers,” said Teh.

The platform aims to “bridge the gap in terms of know-how, reduce costs, as well as avoid or minimise unnecessary delays and encumbrances associated with the old way of manually doing things,” he said, adding that it is meant to be highly scaleable and inclusive.

According to Teh, the platform is powered by big data technologies, artificial intelligence (AI) and machine learning and is “designed to help merchants — regardless of shape and size — to level the playing ground, and do so without incurring exorbitant costs”.

Fusionex is also riding on the strength of Alibaba Cloud, what with being the latter’s official strategic partner in this region.

“They are a great, committed partner,” Teh said of Alibaba Cloud, noting that the collaboration is synergistic as the latter “has a great cloud offering, whereas Fusionex is a leader in big data technology, AI and machine learning with a strong international reputation.”

While Fusionex may not be a household name to most Malaysians, it has certainly made waves overseas. The company had, until July last year, been listed on London’s Alternative Investment Market.

However, Teh had decided to take the company private after five years on the market due to what he reportedly said was a persistently undervalued stock.

Without disclosing any figures, Teh shares that Fusionex has “invested significantly” and will continue to invest as it is fully committed to ensuring the success of the e-Services platform.

He did not reveal the names of the group’s partners in its consortium, but that they are local players with the relevant expertise and experience.

Teh pointed out that like the DFTZ itself, the e-Services platform is not constrained to physical hubs such as the KL Aeropolis logistics hub being developed by Malaysia Airports Holdings Bhd and Cainiao Smart Logistics Network (Hong Kong) Ltd.

“e-Services will be an open platform that welcomes multiple business service providers, be it forwarding agents, logistics players, and of course very importantly, good local SMEs with great Malaysian products.”

“The cost benefits and efficiencies these players enjoy would ultimately trickle down to consumers [in the form of] faster, more efficient and more cost-effective products and fulfilment,” he said. http://www.theedgemarkets.com/article/powering-alibabas-ewtp-big-data-analytics-ai-and-machine-learning

Fusionex Managing Director Ivan Teh Wins the EY Technology Entrepreneur Award

KUALA LUMPUR, Malaysia, Dec. 10, 2014 /PRNewswire/ — Fusionex Managing Director Mr. Ivan Teh was honoured by winning the prestigious Ernst & Young (EY) Technology Entrepreneur of the Year Award at the recent 2014 EY Entrepreneur of the Year Gala dinner officiated by the Minister of International Trade and Industry, YB Dato’ Sri Mustapa Mohamed. Five hundred distinguished guests comprising entrepreneurs, corporate leaders, including EY’s Global Vice Chair for Strategic Growth Markets, Maria Pinelli, were present at the event.

Fusionex Ivan Teh, Managing Director (Middle) receiving the EY Technology Entrepreneur of the year award from YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, (left), together with Dato’ Abdul Rauf Rashid, Ernst & Young Country Managing Partner (right) at the prestigious 2014 Ernst & Young Entrepreneur of the year gala dinner held at the Majestic, Kuala Lumpur.
Ivan Teh, Fusionex Managing Director (Middle) receiving the EY Technology Entrepreneur of the year award from YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, (left), together with Dato’ Abdul Rauf Rashid, Ernst & Young Country Managing Partner (right) at the prestigious 2014 Ernst & Young Entrepreneur of the year gala dinner held at the Majestic, Kuala Lumpur.
Celebrating its 28th anniversary this year, the Ernst & Young Entrepreneurship Award (EOY) program has expanded to more than 145 cities and 60 countries worldwide. The program recognizes exceptional entrepreneurs that build a better working world for all. It honours those with the courage and passion to make their dreams a reality — to build something of lasting value that benefits everyone. Touted by many as the world’s most prestigious business accolade, it recognizes the most exceptional among a unique group of people.

fusionex ivan teh

Nominees were judged by an independent panel of judges comprising previous EOY winners and leading figures from the local business community based on a set of stringent globally-benchmarked criteria.

YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry said, “Since its inception, the EY Entrepreneur of the year programme has emerged as one of the most prestigious business awards for entrepreneurs. More significantly, as a global awards programme, it provides a platform for entrepreneurs to be showcased on the world’s stage. I wish to take this opportunity to congratulate all the nominees especially the winner of this year’s EY Entrepreneur of the year award.”

When asked to share his thoughts on his latest win, Mr. Teh commented, “I am humbled to receive this great honour. It’s certainly a privilege to be standing here amongst a stellar cast of remarkable top nominees for this award, all of whom have done incredibly well in their respective industries. I would like to thank EY for organising a magnificent event, as well as the distinguished judges for this amazing recognition.”

Teh concluded, “Naturally, I wouldn’t be here without the ‘Fantastic Fusionex’ team. It is therefore only fitting that I dedicate this award to Team Fusionex and all of those who have supported us. This award is for all of you, and I’m sure this will only spur our team to do even more, and to create a positive impact to the industry, society, ecosystem and community as a whole.” For more news https://enterpriseasia.org/apea/malaysia/awards/my-2014/ivan-teh/

Fusionex Rolls Out Major Platform for Korean Mega Resort

SEOUL, South Korea–(BUSINESS WIRE)–Fusionex, a multi award-winning, data technology provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Artificial Intelligence, and Deep Learning, has successfully deployed a data-driven travel and hospitality platform to power up the operations of a new mega resort in Korea, in a multi-million dollar contract.

“We are excited to see the rollout of this world-class platform for this amazing and beautiful resort. We look forward to seeing our client leverage this data-driven digital platform in their quest to provide high quality customer experiences.” – Ivan Teh

Fusionex has introduced its BDA solution, Fusionex GIANT, which will consolidate billions of records, from traveler registration to hotel guest interactions and retail customer management. By harnessing this massive amount of data, the client would use GIANT to cleanse and manage disparate data to gain useful insights and information. The information would then be utilized to facilitate bookings, make product recommendations and provide better customer experience with a high degree of flexibility and personalization.

Ivan Teh

The Fusionex Big Data platform is also a natural bolt-on for the Fusionex Central Reservation System (CRS), which reaches customers on their terms through convenient online, kiosk, and mobile platforms. CRS will also support requests by travel agents, providing a wider avenue for travelers to find their way to the resort. The system will also provide seamless communication between floor staff and security.

Besides generating a greater number of visitors for the client, Fusionex will also be working on ways to increase the customers’ lifetime value. Via the Loyalty Management System (LMS), the client will be able to give out loyalty points and redeemable rewards. This turns the holiday paradigm into one of point accumulation or “gamification” that motivates customers through interaction, engagement and loyalty, which will encourage recurring visits.

The client will then be able to unearth hidden insights in its data with a near-real-time overview of the performances of its different hospitality arms, customer behavior and tendencies. They could even conduct a drill-up analysis that checks stats from specific rides, from zones to the entire theme park. Decision-makers will then be able to craft strategies based on Fusionex’s predictive analytics capabilities.

Ivan Teh, Fusionex Managing Director and Chief Executive Officer, commented: “We are excited to see the rollout of this world-class platform for this amazing and beautiful resort. We look forward to seeing our client leverage this data-driven digital platform in their quest to provide high quality customer experiences.” https://www.businesswire.com/news/home/20180402005416/en/Fusionex-Rolls-Major-Platform-Korean-Mega-Resort