Competence and Commitment Key in Business Transformation

KOMPAS/RADITYA HELABUMI

The CEO Live Series discussion, a series of Kompas 100 CEO Forums with the theme "Digital Transformation and Innovation in Economy" was held in Jakarta, Thursday (11/11/2021). From right to left: Warung Pintar Group CEO Agung Bezharie Hadinegoro, Bank BTPN President Director Ongki Wanadjati Dana, East Ventures Managing Partner Roderick Purwana, and Indonesia Stock Exchange President Director Inarno Djajadi, and guided by Kompas Deputy Managing Editor Andreas Maryoto. SOE Minister Erick Thohir also attended online.

JAKARTA, KOMPAS — A more agile business strategy is needed in implementing digital transformation so that companies can focus more on product innovation. The commitment of business leaders and the competence of the workforce are important elements that determine success in business transformation.

The digital transformation has taken place in various business fields. State-Owned Enterprises (SOEs) Minister Erick Thohir said SOEs were also encouraged to implement a digital transformation but they should not forget their role as corporations that received mandatory assignments in public services.

A number of SOEs have also developed venture capital companies in line with the emergence of  technology start-ups. "We place great emphasis on the quality of the business processes of SOEs that have entered the venture capital business ," Erick said in the CEO discussion forum titled “ Live Series #2: Digital Transformation and Innovation in Economy” held by Kompas daily in cooperation with Jakarta-based venture capital company East Ventures on Thursday (11/11/2021). ), at Patio Venue & Dining, Jakarta.

Speakers at the discussion, part of the Kompas100 CEO Forum series, included the president director of  the Indonesia Stock Exchange (IDX), Inarno Djajadi, the president director of Bank BTPN Tbk , Ongki Wanadjati Dana, the managing partner of East Ventures, Roderick Purwana, and the founder and CEO of Warung Pintar Group, Agung Bezharie Hadinegoro.

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According to Ongki Wanadjati, the most difficult thing in digital transformation is changing the mindset of a company's organization that must be centered on consumers.

When he first started building the "Jenius" digital bank five years ago, Ongki said competent talent with a consumer-centered perspective within the company was not yet available. The next challenge was to build an agile organizational culture that must be in line with the development trend of digital technology, he said. According to him, this can be accomplished by conducting regular leadership training.

“In our place there are still bankers who still have traditional and modern perspectives. However, the company remains committed to digital transformation, one of which is marked by being consumer centric," said Ongki.

KOMPAS/RADITYA HELABUMI

SOE Minister Erick Thohir delivered his presentation as an online resource at CEO Live Series 2 in the Kompas 100 CEO Forum series with the theme "Digital Transformation and Innovation in Economy" in Jakarta, Thursday (11/11/2021).

Value-added

Roderick believes that the most important thing in digital transformation is the creation of added value. The emergence of start-up companies in the technology sector should encourage the achievement of added value, not just being a disruptor or bringing disruption.

Up to 2021, East Ventures has provided funding for technology start-ups engaged in various fields ranging from logistics, healthcare, software to digital solutions for corporates. These start-ups have supported the ongoing digital transformation, both in established companies and community organizations.

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Based on the experience of East Ventures, the founders of a number of new technology start-ups in Indonesia are now more qualified compared to a decade ago.

On the same occasion, Inarno Djajadi said, the IDX had also made a breakthrough in the digital transformation, such as through the establishment of an online stock trading system and the provision of electronic facilities to support the initial public offering (IPO). IDX and the Financial Services Authority have also discussed the planned establishment of a new trading board to accommodate the listing of special technology companies' shares. The new trading board is expected to open in 2022.

Agung Bezharie Hadinegoro said the Warung Pintar Group had been actively involved in driving the digitization in micro, small and medium enterprises (MSMEs) engaged in grocery business. The Warung Pintar solution that facilitates the supply of goods from distributors have so far been used by 500,000 small-scale grocery stores (stalls).

At present, small-scale grocery stores can procure goods without having to physically go to the distributor. They can also record the entry and exit of merchandise online. From this digital footprint, they can access loans more easily.

This article was translated by Hendarsyah Tarmizi.