Adamu Garba II: Crater365 and Digital Economy

Digital transformer and Founder, IPI Solutions Nigeria Ltd, a leading digital solutions provider company in Nigeria, Adamu Garba II, has revealed that its cutting edge tech-solution, Crater365 is aimed towards transforming African businesses across the globe

In a statement made available to THISDAY, Adamu said the Crater365 platform was built uniquely to serve the concept of digital transformation of African businesses and tune them to the global standard

While speaking on how the product was birthed and its importance to African businesses, he said, “Every January, the World Economic Forum (WEF) brings together 2,500 top business leaders, international political leaders, economists, and journalists to discuss the most pressing issues facing the world.

“In 2015, it identified one of those issues as digital transformation: how the lower cost and greater access to new technologies are redefining what customers expect, how businesses deliver products and services, and, as a result, how people live and work.

“And it launched its Digital Transformation Initiative, a study of 13 industries involving interviews with more than 300 executives. A report summarizing its findings makes an interesting starting point for our discussion.

“It made five summaries, first was on digital consumption, which explains how the rapidly changing expectations of digital customers are driving companies to reinvent themselves.

“Second is digital enterprise, which looks at how companies can rethink every aspect of their business to succeed in the digital era. The main points to consider in this aspect are, which strategy will yield the most effective digital business model for the company, which operating model will allow the business to remain quick and agile in the digital economy while best meeting customer needs and expectations, which digital talent and skills will best prepare the company to compete in a fast-moving, ever-changing digital economy, and how to best use digital metrics to measure and increase digital traction.

“Next is called the platform economy, which focuses on how companies that work with other digitally enabled companies can achieve the scale, scope, and speed that lead to success in the digital era.

“Then, we have the societal implications, which look at the impact these new digital business and operating models are having on society. It places debates on whether digitization is creating or eliminating jobs, whether digitization is adding to or reducing the environmental and social impacts of economic growth, and whether the increasing acquisition and use of personal data is making the digital economy more equitable or leading to an erosion of trust and a breach of ethical boundaries.

“Last on the list is unlocking digital value to society. This assesses quantitatively what impact digitization is having on businesses and on society. Two ideas are especially important for this.

“The value-at-stake analysis quantifies the value added by new products and services and the value that will move from one area to another due to digitization between 2016 and 2025. It is equally a measure of the cost to industries, customers, society, and the environment that is at stake if the digital value is not unlocked.

“The digital value to society (DVS) framework quantifies the impact of digitization on health and safety, employment, the environment, and customers over the same period. It includes measures such as lives saved, time saved, and jobs created.

“The bottom line is that innovative technologies have the potential to grow the economy and make society more equal and inclusive. At the same time, limiting regulations and innovation and adopting technology in some parts of the world, such as we have in Nigeria with the new Data Protection Commission, signed into law by President Bola Ahmed Tinubu may help unlock more of these opportunities.

“These are the questions all companies and all individuals face right now. The digital future is in our hands. It is one of the most important reasons why at IPI, our principal focus is to design and build a future-ready business platform to prepare for the rise of African Data consumption and production.

“The Crater365 platform was built uniquely to serve the concept of Digital Transformation of African businesses and tune them to the global standard.”