E-Business
Reasons Why Your eCommerce Business Needs to Innovate
By Adeniyi Ogunfowoke,
Innovation is all about finding or creating new ways of doing things. The survival of any business is hugely dependent on this. So, whether you are a blue-chip company or a local start-up, innovation is like the air you breathe daily. There are so many reasons why you should innovate. We discuss some of these ways.
Global recognition, thanks to the internet
In today’s business climate, the playing field just got a whole lot bigger, thanks to the internet. Your competition isn’t just around the corner, it’s across the globe. Clients can search for better customer service, lower prices, and faster production with a simple google search. Your business will simply suffer if your business does not innovate.
Business growth
Businesses that innovate are able to grow, scale up and employ more hands. Innovation makes it easier to grow, regardless of the size of the business. You might have a small startup, but if you innovate, you can grow your business.
Stand out from competitors
You are not the only one operating in your business niche. There are tons of other companies in that niche. As such, you need to stand out in some way. You can do that through innovation. The right innovation will allow you to offer something unique to your customers. For instance, Jumia dominates the ecommerce space not only in Nigeria but also in Africa; hence, it is now tagged the Alibaba of Africa. It achieved this lofty height because it innovated over the years. This has made Jumia very successful that it now wants to keep its millions of customers within the Jumia ecosystem with all the digital services that are tailored to meet everyday needs of its customers.
Meet the needs of customers
The needs of the customers are insatiable because they are constantly changing. One day, your customers might need exactly what you have to offer, and the next day, they might need something else. Innovators predict changes in the market and provide solutions before people even realize they need them. You cannot meet your customers’ needs on a long-term basis unless you are willing to innovate. If you remain stagnant, your business will eventually flounder and liquidate.
Attract innovative talents
The truth is, talented and innovative people want to work for innovative companies. Your business is not going to attract someone who is going to create the next big thing unless your company has a history of creating.
Visa, global payment services giant, has announced plans to establish a data centre infrastructure in Nigeria.
Andrew Torre, Visa’s regional president for central and eastern Europe and Vice-President Kashim Shettima
According to a statement by Stanley Nkwocha, senior special assistant to the president on media and communications (office of the vice-president) on Friday, Andrew Torre, Visa’s regional president for central and eastern Europe, the Middle East, and Africa, spoke during a courtesy visit to Vice-President Kashim Shettima at the presidential villa in Abuja.
“This is in addition to its investments of over $1 billion in the country, including a substantial technological partnership with @moniepoint to foster digital payment solutions, a $200 million investment in Interswitch, and a partnership with @thriveagric to empower smallholder farmers and enhance food security in Nigeria,” the statement reads.
During the meeting, Torre said the plan to establish the data centre infrastructure aims to bring new technologies into the Nigerian market that would bolster the nation’s growing digital economy.
“Visa has been making investments and will continue to make these investments in Nigeria,” he said.
Responding, Shettima welcomed Visa’s expansion efforts, assuring the delegation that the partnership between Visa and the Nigerian government would continue to flourish.
The vice-president commended the company for investing in ThriveAgric, noting that President Bola Tinubu’s administration is deeply committed to repositioning the agriculture sector, which remains a top priority in its 8-point agenda.
“Nigeria is where the action is. Of the 10 fintechs in Africa, about eight are in Nigeria, with moniepoint as the newest addition,” Shettima said.
“Agriculture is key to the 8-point agenda of the present administration. President @officialABAT is really keen on repositioning the agriculture industry here, and we have to invest in technology, we have to invest in modernisation.”
On January 23, Moniepoint, a Nigerian fintech company, announced it secured investment from Visa to support the growth of small and medium enterprises (SMEs).
Andrew Torre, Visa’s regional president for central and eastern Europe and Vice-President Kashim Shettima
Federal Capital Territory Administration (FCTA) has approved N242.8m for the procurement of a Microsoft 365 licence for its Internal Revenue Service (FCT-IRS) as part of efforts to digitise the service’s operations.
Mr Michael Ango, acting executive chairman of FCT-IRS, disclosed this after the FCT Executive Committee meeting chaired by Mr Nyesom Wike, the minister of FCTA, in Abuja on Wednesday.
Ango said that the FCTA was making significant investments in technology to enhance revenue generation and collection.
“So, this is also one of those investments in technology that the FCT is undertaking.
“The licence, if procured, will enhance our ability to move most of our manual processes into automated processes.
“It will enhance our ability to communicate within our offices,” he said.
The executive chairman added that the move would also reduce the use of paper and ensure better record-keeping through the storage of information and documents in the cloud.
According to him, “The licence will essentially enhance our operations and assist us in generating revenue for the development of the FCT under Wike’s leadership.”
Rack Centre, West Africa’s Tier III Carrier and Cloud neutral data centre, has welcomed Olla Cloud Service, a new private cloud service by Olla Systems Limited, a leading provider of innovative technology solutions, to its facility.
Hosting at Rack Centre, Olla Cloud Service runs on a state-of-the-art, cloud-enabled infrastructure for enterprise applications across diverse platforms, including mission critical application, web applications as well as containerised applications using Kubernetes.
Lars Johannisson, CEO, Rack Centre, welcoming Olla Systems, noted that the partnership with Olla Systems Limited would reflect the company’s commitment to providing African businesses with high- quality cloud computing services.
He noted that Olla Systems would enjoy Rack Centre’s 13.5MW data centre campus facility, designed to meet the highest international standards and offering scalable solutions to Hyperscalers, Enterprises, and Cloud service providers.
As part of its commitment to sustainability, the facility is equipped with energy-efficient systems, advanced cooling technologies to mitigate environmental impact and an optimally-designed feature to handle high-density workloads with precision.
According to Johannisson, “With Olla Cloud Service hosting at Rack Centre, clients will experience fast performance and low latency, enabling businesses in Africa to access world-class cloud computing services within a secure and compliant local infrastructure.”
Also speaking, Olusola Adenuga, chief executive officer, Olla Systems Limited, expressed enthusiasm about hosting at Rack Centre, noting that Olla Cloud remains a groundbreaking private cloud solution for businesses.
While highlighting the benefits of the partnership between Rack Centre and Olla Systems, Adenuga disclosed that “subscribing to Olla Cloud Service is cost-effective to customers because of its local currency payment advantage.”
She also noted that the partnership between the duo, provides businesses the opportunity to meet regulatory requirements of data residency, while enjoying world-class infrastructure as a service (IaaS) locally.
“Other benefits of hosting with Olla Cloud include: 24/7 support, unparalleled performance, scalability and agility.” she added.
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