A consultancy business is only as good as the knowhow it can impart onto clients. So it speaks volumes that, when asked what sets IBM Consulting apart, Lee-Han Tjioe, General Manager for Hong Kong and Macau, points to its rich and varied expertise.
“We have both business consulting and technology consulting in our scope,” Lee-Han says. “We have business consultants in our team that help clients with their strategy, with their new propositions, with defining or optimising business processes. That's one part of our practice. The other part is where we also advise on specific technology topics. So we have consultants that are very specialised in key technologies like AI and Hybrid Cloud that can help clients to achieve technology enabled major operational improvements. We basically have both deep business and technology skill sets to deliver end-to-end solutions.”
IBM has been a trusted advisory and delivery partner with high market reputation for decades, and has further developed into an eco-system provider with accurate major corporate acquisitions to expand its AI and Hybrid Cloud skill sets to support clients with implementing differentiating industry and technology solutions. Today, IBM works closely and collaboratively with companies and eco-system partners to achieve required business model changes enabled by modern digital solutions which, without reliable partners, would be hard to scale at fast pace.
In many cases, IBM’s clients are international and local conglomerate companies across multiple key industries. “We are co-creating with our clients and ecosystem partners to develop new propositions and experiences, and applying best practices in a fast fashion with fast go-to-market. One example is with an insurance company that we work with on IOT for “pay-how-you-drive” insurance. And so we helped the client to actually get the right technologies into the cars to track driving behaviours and attach that to very innovative insurance propositions.”
IBM’s partnership with AXA
Another example is IBM’s strong partnership with insurance company AXA, which has endured for many years. Initially, AXA had their applications managed by providers over the world but was looking to consolidate, recognising that it was very hard to achieve consistent levels of service as well as cost-effectiveness. AXA brought IBM on board to manage those applications but also to help them innovate.
“Our partnership with AXA means that we are delivering multi-year support for the business-critical applications that AXA has,” Lee-Han continues. “Those applications are supporting distribution, sales, and key internal operations. We have transferred knowledge of 60 applications within four months and now support about 100+ applications. This is the foundation for our partnership with AXA. We are now helping with further accelerated0 deployment of API-based services on AXA’s digital platform to meet the fast developing new market needs.”
IBM Consulting and Our Transformation
IBM Consulting’s business can be broken down into four pillars: 1. Strategy Consulting, where it works with clients to define vision and blueprint for its future; 2. Experience Consulting, where Garage and Design thinking approaches are applied to redefine new experiences for clients and their customers; 3. Operations Consulting, in which it examines how it can optimise current business activity with automation and new technologies such as AI and IoT; and lastly 4. Technology Consulting, where IBM helps clients to implement or manage enterprise solutions and leverage Cloud technologies for optimising application management.
It’s a diverse remit – but at the heart of everything the firm does is the Virtual Enterprise, IBM’s framework that helps clients in their pursuit of digital transformation. Transformation is not just about taking on technical hurdles, IBM’s depth of transformation experiences and understanding of key industry opportunities proofs a Virtual Enterprise approach can be achieved with an end-to-end vision for achieving business growth.
READ THE FULL AXA HONG KONG REPORT HERE
International Business Machines Corp. (IBM) was founded more than a century ago, in 1911, as the Computing-Tabulating-Recording Company (C-T-R). But the computer giant traces its roots back to the1880s. During that decade, Dr. Alexander Dey invented the first dial recorder for his business, while a second enterprise, Bundy Manufacturing, became the first time recording company. Both companies became key building blocks of C-T-R.
More recently, IBM has become a global information technology company focused on software, cloud computing, and consulting services. IBM primarily generates revenue today through its five segments: Cloud & Cognitive Software; Global Business Services; Global Technology Services; Systems; and Global Financing.
The top shareholders of IBM are James Whitehurst, Arvind Krishna, James Kavanaugh, Vanguard Group Inc., BlackRock Inc., and State Street Corp.
As of January 5, 2021, IBM had trailing 12-month (TTM) revenue of $75.0 billion and TTM net income of $7.9 billion, with a market capitalization of $111.4 billion.
Below, we take a closer look at the top shareholders of IBM.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
James M. Whitehurst owns 148,606 shares of IBM, representing 0.02% of all outstanding shares. Whitehurst has been president of IBM since 2020. In this role, he is responsible for IBM Cloud and Cognitive Software organization and Corporate Strategy. Prior to IBM, Whitehurst was president and CEO of Red Hat, the open source enterprise software company, and earlier in his career was chief operating officer of Delta Airlines. Whitehurst played a key role in driving IBM's high-profile, $34-billion acquisition of open-source software company Red Hat, the largest such purchase in the company’s history.
Arvind Krishna owns 86,188 shares of IBM, representing 0.01% of all outstanding company shares. Krishna became CEO of IBM in April of 2020 after serving as senior vice president of Cloud and Cognitive Software, IBM’s fastest growing business. He joined IBM in 1990 as a member of the company’s Watson Research division, then becoming general manager of IBM Systems and Technology Group’s development and manufacturing organization. Krishna has been a key driver of IBM’s push into cloud computing in accurate years, and as head of IBM Research, he has guided the company through developments into blockchain, artificial intelligence, and quantum computing technologies. Krishna was a major architect of IBM’s acquisition of Red Hat.
James J. Kavanaugh owns 77,541 shares of IBM, representing 0.01% of all outstanding company shares. Since 2018, Kavanaugh has been senior vice president and chief financial officer of IBM, overseeing the company’s global financial operations. In these roles he also leads the company’s Global Financing business. Kavanaugh joined IBM in 1996 and has held a variety of financial leadership roles for the company, including vice president of finance for the Americas Group and IBM EMEA. From 2008 to 2015, he was IBM’s controller and from 2015 to 2018, he was senior vice president, Transformation & Operations. In his current role he continues to oversee Transformation & Operations, leading the company in aligning its operating model with fundamental industry shifts. Prior to IBM, Kavanaugh was chief financial officer for the Americas Global Services unit at AT&T Corp.
Institutional investors hold the majority of IBM shares at about 51.9% of total shares outstanding.
Vanguard Group owns 74.2 million shares of IBM, representing 8.3% of total shares outstanding, according to the company's 13F filing for the period ending September 30, 2020. The company is primarily a mutual fund and ETF management company with about $6.2 trillion in global AUM. The Vanguard Information Technology ETF (VGT), which tracks a market-cap-weighted index of IT companies, owns IBM. The company represents about 1.1% of the fund's portfolio.
BlackRock owns 60.9 million shares of IBM, representing 6.8% of total shares outstanding, according to the company's 13F filing as of September 30, 2020. The company is primarily a mutual fund and ETF management company with approximately $7.8 trillion in AUM. The iShares MSCI USA Value Factor ETF (VLUE), which invests in undervalued large- and mid-cap companies, owns IBM. IBM is the fourth-largest holding at 3.2% of the fund's portfolio.
State Street owns 53.0 million shares of IBM, representing 5.9% of total shares outstanding, according to the company's 13F filing as of September 30, 2020. State Street manages mutual funds, ETFs and other investments with $3.1 trillion in AUM. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks a price-weighted index of 30 large-cap U.S. stocks, holds IBM. IBM represents 2.7% of the fund's holdings.
International Business Machines Corp. (IBM) is a multinational technology company that offers a range of computing solutions and technology consulting services. Big Blue traces its origins back as early as the 1880s, but it was in 1911 that the company was first incorporated as the Computing-Tabulating-Recording Co. (C-T-R) in the state of New York.
C-T-R manufactured and sold a range of machinery, including commercial scales, industrial time recorders, meat and cheese slicers, tabulators, and punched cards. The company formally changed its name to its current name in 1924 and has since grown into a major global corporation focused on software, technology and business consulting, and cloud computing.
IBM generated annual net income of $5.6 billion on revenue of $73.6 billion in 2020. It has a market capitalization of $125.3 billion as of July 13, 2021. It currently operates through five business segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
IBM’s early history is marked by its focus on the manufacture of machinery and computer hardware products. But beginning around the 1990s, the company began to shift its focus toward computer services and software. It sold off hardware businesses, such as flat-panel displays, disk drives, and personal computers, while simultaneously acquiring services and software companies. In accurate years, the company has set its sights on becoming a leader in cloud computing, a strategic push underscored by its 2019 acquisition of Red Hat Inc. To facilitate this shift toward cloud services and artificial intelligence (AI), IBM has announced that it will spin off its infrastructure management business. The new company will be called Kyndryl, and the spin-off is expected to be complete by the end of 2021.
Below, we take a closer look at six of IBM’s more accurate acquisitions, all of which have taken place within the past 20 years. The company does not provide a breakdown of how much profit or revenue each acquisition currently contributes, except for quarterly revenue for Red Hat.
Red Hat was founded in 1993 by Marc Ewing, or, as he was known by many in the computer lab during college, “the guy in the red hat.” Ewing had created and was distributing his own version of Linux® on CDs. He later joined forces with small businessman Bob Young and the two launched Red Hat Software in 1995, with Young as CEO. The open source development model on which the company was built was aimed at challenging what its founders saw as the monopolistic tendencies of the technology industry. The company went public in 1999 with a record-breaking initial public offering (IPO).
In 2019, Red Hat was acquired by IBM for approximately $34 billion, which broke the record for the largest software acquisition in history. The acquisition brings together Red Hat’s open hybrid cloud technologies with the scale and depth of IBM’s innovation, industry expertise, and sales leadership. The goal for IBM has been to work with Red Hat in offering a next-generation hybrid multi-cloud platform for its enterprise clients, especially as some of IBM’s legacy businesses are shrinking.
Cognos was founded in 1969 by Alan Rushforth and Peter Glenister in Ottawa, Canada. The firm specialized in developing software for business intelligence and performance management. In 2005, Cognos launched its award winning BI 8 product, which could be used for creating professional reports, data analysis and monitoring, model creation, and more.
The company was acquired by IBM in 2008 for $4.9 billion. At the time, IBM’s intention in acquiring Cognos was to accelerate its cross-company Information on Demand strategy, unlocking the business value of information through information integration, content and data management, and business consulting services. The combination would help companies increase the value of their information, optimize business processes, and maximize performance.
SoftLayer Technologies was founded in 2005 as a hosting services and cloud computing provider. By the time SoftLayer was acquired by IBM in 2013, it had about 21,000 customers and was operating 13 data centers in the United States, Europe, and Asia.
Following the acquisition, SoftLayer became part of IBM’s cloud services division. The aim of the combination was to create a global cloud platform that would make it easier for companies and organizations to adopt the latest cloud services. It was another example of IBM’s push to accelerate the growth of its cloud computing business since it began making more than a dozen cloud-related acquisitions starting in 2007. SoftLayer, now called IBM Cloud, currently has more than 60 data centers in 19 countries.
PricewaterhouseCoopers, a global network of firms offering assurance, tax, and consulting services, was created out of a 1998 merger between Price Waterhouse and Coopers & Lybrand. In 2002, the company sold its consulting services business—PwC Consulting—to IBM for approximately $3.5 billion.
IBM integrated the consulting service into a new global business unit called IBM Business Consulting Services, extending the reach of its Global Services Business. At the time, it was the largest consulting services organization in the world, having operations in more than 160 countries. The acquisition allowed IBM to combine business consulting with technology solutions, which many of its clients were demanding at the time.
Healthcare data and analytics services company Truven Health Analytics was formerly the healthcare unit of Thomson Reuters Corp. (TRI). Veritas Capital Fund Management LLC bought the healthcare unit from Thomson Reuters for $1.25 billion in 2012 and rebranded it as Truven Health Analytics. Several years later, Truven became a target in IBM’s aggressive push into the healthcare industry. IBM bought the healthcare analytics company in 2016 after making several acquisitions of medical technology companies totaling more than $4 billion over the previous year.
The Truven acquisition provided IBM with a massive new body of data, enabling IBM to expand the capabilities of its Watson AI system. AI machine learning systems such as Watson require large amounts of data from which they are trained to identify and extract useful patterns. The deal also was expected to double the size of IBM’s healthcare business. Truven has since become fully integrated into IBM Watson Health, which provides solutions to the healthcare industry.
Turbonomic was founded in 2009 with the goal of developing AI software to manage information technology (IT) systems. The company provides an analytics engine to oversee resourcing decisions and facilitate communication among systems. The company has grown to serve thousands of customers, including a third of Fortune 500 companies.
IBM announced the closing of its acquisition of Turbonomic in June 2021 as part of its new focus on cloud services and AI. This acquisition comes amid a flurry of deals around other cloud and AI companies, including Nordcloud and Instana.
By Alexandria Cole-Davis
Have you heard of the Consumer Technology Association? Every year it holds the Consumer Electronics Show, or CES.
It’s the world's largest gathering for businesses that thrive on consumer technology. More than 175,000 people attended this technology conference in Las Vegas.
Every year I watch in amazement via Instagram stories and Twitter pages of leading technology companies that are showcasing and unveiling the innovative changes to technology. One thing I always wonder about this conference is what the fintech community is rolling out or what technology companies are beginning to venture into financial technology.
I added this huge conference to my list for 2021. If you’re in need of excitement, empowerment or encouragement to innovate, this is definitely a conference you should consider attending.
CES 2021 is scheduled for January 6-10th, 2021 in Las Vegas.
“The only way you survive is you continuously transform into something else. It’s this idea of continuous transformation that makes you an innovative company,” Ginni Rommetty, chairman, president and CEO of IBM said on the company blog.
Staying involved in new innovation and up to date on current trends is also extremely important to being a successful financial planner. It can be difficult to stay up to date with information but the Financial Planning Association’s February fintech content, resources and insights can make it easy to stay connected.
The “You’re a Financial Planner, Now What?” podcast is hosting a month full of fintech topics in February.
We kick off the month with an interview with Sean Brown, the CEO of Y-Charts, who will be discussing the innovative ways they’re impacting the research and reporting space through their annual client communication survey and using research to provide visual stories to support financial planners.
Another episode, hosted by Matt Fizell, will discuss the Topic of fintech with Jason Wenk, CEO and founder of Altruist.
This episode is full of insight that breaks down the issues of scaling technology within a financial planning firm and discussing the large increase of technology being used among planners.
Jason does a great job pointing out the importance of having young associates and planners in the office who know their way around technology.
The final podcast episode for the fintech month will include an interview from Soraya Morris of Envestnet Moneyguide. Soraya shares her story of navigating as a woman in the fintech community while learning all the opportunities and benefits that technology companies offer NexGen professionals joining the financial planning profession.
This podcast is one you won’t want to miss, especially if you are wondering about some of the unique positions that financial technology companies are looking to fill as they grow as a company.
This February is the month where the Financial Planning Association celebrates and highlights all things fintech. They host live webinars with leaders from the fintech community, dedicated journals and publications to the topic, and produce weeks’ worth of podcasts on the topic.
So, when is the last time you checked in on the latest technology innovation? Or read an article that profoundly made you question how you use technology? Well it’s not too late to incorporate and adjust some of your goals and career aspirations to learn something new and embrace the new findings in the fintech space.
As I sign off of today’s column I will leave you with one final word from the Nerd’s Eye View blog that might help you be more open to the fast-changing fintech space transforming your career: “Transformation is creating innovative companies.”
Born and raised in Sacramento, Calif. Alexandria attended California State University- Sacramento where she received a degree in economics. She is currently starting a new role with Facet Wealth as a business development associate. She also founded her own tax business this year called BeyondTax. Alexandria is very interested in media and hosts the monthly podcast “You’re A Financial Planner, Now What?” Outside of work, Alexandria loves visiting unique coffee shops with her husband, working out, spending time with family and playing board games.
FPA NexGen, a community of the Financial Planning Association® (FPA®), aims to provide support and collaboration for those professionals new to the financial planning profession. With more than 2,500 like-minded young professionals, members of FPA NexGen are ready to share their experiences and further the future of the financial planning profession. Learn more about our engaged community and join the conversation on Twitter.
Cybersecurity used to be a Topic brought up occasionally in leadership meetings, now it is at the forefront of everything and according to Ric Lewis, SVP IBM Infrastructure it will be the issue of this next decade.
Lewis spoke at Think Sydney 2022 discussing the importance of cybersecurity in today’s world.
He said, “[Cybersecurity] is going to be that thing that we're all talking about, that we're all proposing solutions and evolving our technology and consulting practices. We will really be focused on cybersecurity, its a big deal.”
While cybersecurity is high on the agenda, organisations are not up to speed with the right tools and technologies to combat bad actors.
Lewis told attendees that it takes 280 days to detect and contain a cybersecurity issue.
“That is two thirds of the year, we just talked about how important speed is, that's not very fast. So you can see, there's just a tonne of opportunity in this area. For us, as a partner, as well as for clients to be able to Improve in the area of cybersecurity, it's something we're very excited about,” he explained.
AI within cybersecurity can be a force multiplier, according to Lewis.
“If you take one person that's in your security office who's working, if you have AI deployed, we see that one person becomes the effective 60 people. You do the math on how big your security department is, and how much of the multiplier you can get on that. his is very powerful and it's critical,” he added.
Lewis said there's no other way to deal with the explosion of data and the explosion of threats inside the market today.
“With hybrid cloud, and AR, we're really seeing a major shift in technology. It is really about technology coming to the forefront of the business world rather than being the back-office cost optimised.
“That has to do with the issues that were mentioned right up front, sustainability, cybersecurity, supply chain issues, demographic shifts, talent shortages, and even geopolitical instability. All of these things, it's a changing environment, you got to be able to surf that wave and be on top of it,” he said.
Quantum computers offer great promise for cryptography and optimization problems, and companies like IBM, Google, and D-Wave are racing to make them practical for business use. ZDNet explores what quantum computers will and won't be able to do, and the challenges we still face.
The CIO's guide to Quantum computing
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Gurgaon (Haryana) [India], July 13 (ANI/NewsVoir): We-Ace, a leading platform for aspiring women, has announced the 3rd edition of its annual conclave 'Spark-2022' to be held on July 15th 2022. The agenda of this conclave is focused on building thought leadership in making the world more balanced.
Over 7000 people from different industries and countries are expected to attend this one-day conclave. Google, IBM, Walmart Global Tech, Perfetti Van Melle (PVM), and FutureSkills Prime - a MeitY - NASSCOM Digital Skilling Initiative. are the key Partners of this conclave. 30+ prominent speakers will speak at the event and share their thoughts on the topic.
Spark is an annual gender diversity leadership conclave - an initiative by We-Ace in collaboration with major industry leaders to build thought leadership around gender-balancing workforces and workplaces. Like every year, the 3rd edition of Spark aims to bring together leaders, organizations, communities and professionals to discuss women and their undeniable role in creating value for businesses, economies and society at large.
The purpose of this annual conclave is to discuss ideas, issues and syllabus that drive the inclusion of women in decision making, in value creation and in building an ecosystem that supports them to learn, grow and succeed. This year the conclave is addressing the idea of making the world more balanced by exploring matters related to the three pillars critical to promoting gender diversity - women, workplace and family.
From funding gap for women entrepreneurs to a working mom's dilemma; from the stigma around returnee women to social bias against stay-at-home dads, the conclave will see discussions on some hard-hitting syllabus starting at 9 am on July 15th 2022.
Spark 2022 will be attended by prominent speakers and leaders from the industry like Anu Aga (Padma Shri Awardee, Former MP - Rajya Sabha), CP Gurnani (CEO and MD, Tech Mahindra), Srikanth Velamakanni (Co-founder, Group Chief Executive and Vice-Chairman, Fractal Analytics), Sapna Chadha (Vice President, Marketing, Google APAC), Mohit Thukral (Founder and Managing Partner, Vivtera), Gayatri Yadav (Chief Marketing Officer India and SEA, Sequoia Capital), and Rizwan Koita (Co-founder and former CEO, CitiusTech).
YouTube link: (https://www.youtube.com/watch?v=tK0Pu9uh5PI)
Spark 2022 is not just a forum to discuss big ideas but a platform to upskill by attending 20+ exclusive workshops and mentoring sessions with the finest leaders of the industries. Key partners of the event will power the workshops and mentoring sessions to facilitate the ecosystem to begin a journey of change towards a more balanced world.
Major attractions of Spark 2022 will be:
- Keynotes of global leaders on their views, opinions and ideas on key issues and their impact.
- Participation in industry-wide ideation to shape the future and find actionable solutions to correct the imbalance
- Live interaction with speakers and partner companies to discuss, ask and understand the role we can play as individuals in bringing change
- Group mentoring sessions and actionable workshops to gain new ideas and perspectives on related topics
- Networking of attendees, both women and men allies who show up in support and action, to drive the agenda
Anuranjita Kumar, Founder and CEO of We-Ace, shared more information about Spark-2022 and states, "We are providing a global community platform for women aspiring to ace their careers. As agents of change for gender-balanced workplaces, our mission is to engage, enable and employ women professionals to be in decision-making roles. Spark-2022 is the 3rd edition of our annual Gender Diversity Leadership conclave which aims to correct the imbalance by engaging with communities to pave a brighter, more diverse future for individuals, industries, and eventually, the world."
"We have joined forces with the AIF (American India Foundation) in raising support and funds for their livelihood initiatives focused on women in STEM. We invite women from all across the industry to come to join us as we converge to ideate, differentiate, disrupt and make way for a pivotal change. Together, let's be a part of the solution in making the world more balanced," Anuranjita added.
Other key leaders joining Spark 2022 include Usha Srikanth (Senior Partner, Client Services Leader, IBM), Shweta Shandilya (Director - Data Governance Portfolio Product Development and Support, IBM Soft Labs), Lavanya Raghuraman (IBM Distinguished Engineer, CTO, Global Government, IBM Consulting), Keerthana Sharath (Practice Manager for Business Automation, Expert Labs, IBM Software Labs), Anuj Malhotra (Senior Partner & Vice President, Service Lines & Operations, IBM Consulting), Kanchan Bhatia Kumar (Sr. Associate Director - HR, Perfetti Van Melle), Manisha Kohli (Head of Partner Engineering, Google Cloud), Chaitanya Sreenivas (Chief Talent Officer, Kyndryl), Vijaya Prasanna (Director, Walmart Global Tech), and Sumita Ambasta (Co-founder & Executive Director, Flowering Tree).
You can register to join Spark 2022 by (https://we-ace.com/events/marquee/detail/686873-spark-2022-gender-diversity-leadership-conclave?utm_source=press_release & utm_medium=newsvoir & utm_campaign=spark_2022) clicking here.
Started in 2020, We-Ace is a leading global network of over 100k+ women aspiring to ace their careers. As agents of change for gender-balanced workplaces, the company's mission is to engage, enable and employ women professionals to be in decision-making roles. Women can connect and network with the best in the industry through hiring drives, career fairs, skilling labs, CXO meets and various other industry-led live sessions. Women aspiring to upskill can select from a wide range of life-stage enablement, self-enhancement, and functional and technical courses. The company also offers focused mentoring and coaching programs for women looking to learn, grow and succeed, both personally and professionally.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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