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also important to check their budget spend on regulatory com-

pliance and reporting to find opportunity for automation and

standardisation.

• Do you have existing projects to automate the business processes?

Every company, regardless of size and location, is undergoing some

kind of automation initiative to be more competitive in the market.

It is important to assess the level of their journey with automation of

business processes and technology. The more mature an organisation

is with the automation journey, the more possible competitive oppor-

tunity it will have in future.

• What are the strategic programmes in our organisation to adopt

innovative technologies? Knowledge of strategic programmes and

their progress within an organisation is essential to come up with

recommendation for improvements. An organisation with a com-

pelling strategy to adopt innovative technologies to improve their

customer journeys will have more advantages over their competi-

tors. It is essential not to ignore disrupting technologies like AI,

robotics, blockchain, quantum computing and cloud to have a

competitive advantage.

• Does our board and C-Suite stakeholders understand the upcoming

innovative technologies like blockchain, artificial intelligence, robot-

ics, IOT (Internet of Things), cloud and quantum computing? Most

of the start-up board of directors and employees of Fintech have a

good understanding and even experience of most of the upcoming

technologies. The traditional businesses, that is, incumbent players,

board of directors and C-Suite stakeholders, are still lacking a basic

knowledge with these disrupting technologies. It is essential, without

saying, that the board of directors and senior management must have

a fair understating of these disrupting technologies to shape up a com-

pany’s vision and mission.

• Do we have employees upskills programmes to prepare them for

innovative technologies? It is essential to upskill our employees with

upcoming technologies to support our business and be competi-

tive. This is also essential to reduce staff turnover, improve loyalty,

improve productivity and also to create an innovative culture within

an organisation.

• What is our strategy towards resiliency and concentration risks?

The strategy of resiliency and concentration risks is one of the most

important for an organisation. It has become even more critical in the

past few years due to the pandemic, financial disasters, globalisation,

cyber-attacks and also political cold wars. Resiliency is a tool to make

sure that the company has mitigation plans to avoid or reduce severe

incidents and carry on to run the business. Concentration risks means

not to put all our eggs in one basket.