Southeast Asia’s consumers currently lack access to financial services. Banking penetration in Southeast Asia (SEA) sits at a mere 50 per cent. In contrast, the banking penetration rate is 95 per cent in the US and UK.

This provides an opportunity for tech companies to bridge the gap in financial services. Looking to not only better serve customers, but also to empower stakeholders such as small businesses and delivery partners, Indonesian tech giants GoTo and Traveloka are ramping up their fintech offerings.

At a recent webinar by EDB with Patrick Cao, President of GoTo, and Caesar Indra, President of Traveloka, we discussed their tips for delivering and scaling fintech products across the region, building the right capabilities, and tapping Singapore as a globally connected tech node for growth in SEA.

Check out their key insights below.

Work with your customers to raise awareness of fintech products

Financial literacy varies across diverse SEA. For example, while 59 per cent of adults in Singapore are financially literate, it is 32 per cent in Indonesia, according to the S&P Global Finlit Survey. With a lack of knowledge in basic finances, customers are also leery of digital financial services.

For Traveloka with its start as an online travel agency, it was challenging to persuade Indonesian customers more comfortable with cash to use their platform for high-value transactions in travel.

Indra shared: “We needed to make a conscious effort to educate the market on basic finances. This is important for us, as we want to not only fulfil our customers’ lifestyle aspirations but also enable them to realise it in a responsible way.”

Also Read: A horse of another: Here’s the full list of Southeast Asia’s 24 unicorns

With GoTo’s platform offerings spanning from transport and food, to e-commerce and fintech, it is similarly key for the company to educate its stakeholders across the ecosystem.

“We are focused on providing a seamless and transparent product so the customer, the driver and the merchant know exactly what the terms and conditions are, and we continue to build that educational journey,” Cao explained.

Be transparent in your products and services to build customer trust

For both GoTo and Traveloka, customer education goes together with transparency: they are upfront with their offerings and help customers understand what they are signing up for.

“We build transparency into our products’ UX and UI,” said Indra. For example, Traveloka’s online credit lending service, PayLater, is explicit in the monthly instalments expected of customers.

Transparency is also integral in assuring customers that their data is managed securely. “Both of us are in the business of trust,” Patrick said.

Both companies are also stringent in ensuring that products are compliant with local regulations – once again, underscoring a responsibility to customers.

Identify the right expertise you need for your regional team

Building the right capabilities is at the core of both companies’ fintech achievements so far.

Risk management and control, data analytics and cybersecurity are a few of the critical skillsets GoTo and Traveloka cite in creating successful fintech products.

Traveloka has been building such teams in Singapore. Their Singapore-based data science, cybersecurity, and cloud-native architecture teams work closely with other regional teams to quickly innovate and launch products in SEA. “Singapore offers a world-class talent pool, bringing together the best talent locally and across the region,” Indra affirmed.

Similarly, for GoTo, while operating largely in Indonesia, “a large part of the talent and expertise that we need is based in Singapore. Most of the talent that we have in Singapore has quite a strong affinity for Indonesia, given that it is a short plane ride away,” added Cao.

Also Read: Indonesia, Singapore, Vietnam the most attractive fintech hubs in SEA: Study

Find like-minded partners in Singapore, a tech node in the heart of SEA

Besides being a hub for talent, Singapore also provides access to key partners for GoTo and Traveloka.

“Singapore is a great place in terms of access to ecosystem partners and other areas of fintech expertise that our teams and leaders can tap on,” said Cao.

With Singapore home to 59 per cent of Asia regional headquarters for global tech companies, he added that a rich talent pool and presence of global companies “make Singapore an ideal place to have that regional ecosystem sharing and conversations that enrich our own knowledge and ability to build high-quality products.”

Singapore has also been a partner for Traveloka for innovating in a “vibrant, supportive” fintech ecosystem, said Indra.

A curious, experimental mindset serves you well in fast-growing SEA

Where once traditional financial institutions, such as banks and insurers, and fintech players might be competitors, they are now close collaborators in helping customers access financial services, as both GoTo and Traveloka attested.

Working across non-traditional lines is part and parcel of serving fast-changing SEA. Cao shared that it is critical to “have a curious and experimental mind, and the ability to unlearn, relearn and localise” successes from more developed markets such as the US and China.

Tech companies in SEA are well-positioned to pioneer solutions and meet the needs of increasingly affluent consumers. Where financial institutions might lack information, “we provide the technology to bridge the gap,” said Indra.

Cao added: “We are very much at the embryonic stage, where fintech could end up evolving similar to other fast-growing markets like China.”

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: bugphai

The post 5 lessons from GoTo and Traveloka on building the future of fintech in SEA appeared first on e27.

Whether we like it or not, personal branding is one of the most important things you need to be thinking about as an entrepreneur.

A poorly developed and poorly managed personal brand might cost you opportunities or destroy your chances of starting a successful business.

A poorly-developed but well-managed brand might confuse people as to who you are, what you do, and how you can help them.

A well-developed but poorly managed brand might waste your time and offer the wrong opportunities.

A well-developed and well-managed personal brand will get you the right traction in a timely manner and on a low-cost budget.

Our guest today is Stacey Ross Cohen, the founder and CEO of Co-Communications Inc, a personal branding firm that specialises in executives, entrepreneurs, and especially CEOs.

Co-Communications delivers high-impact, targeted communications programs to local and national clients across diverse industries, including real estate, education, healthcare, non-profits, hospitality, information technology and professional services.

Also Read: The business of social responsibility: Why brands are redefining their social conscience

She is a regular contributor to Huffington Post, and has to have been featured in a variety of national and local publications, including Entrepreneur Magazine, Crain’s, Sales & Marketing, and most recently Inside Chappaqua.

We discuss:

· Why is she so passionate about personal branding?

· Why is it necessary to have one?

· How can you refine yours?

· What is Sean’s personal brand?

· How to develop a consistent personal brand?

· What are the right channels for you to focus your energy?

· How to make your content get discovered?

· And much more!

Also Read: 6 pivot stories of Vietnamese F&B brands that are worth your time (and taste)

Thanks so much to Stacey for this great conversation, I hope you enjoy the show!

If you don’t see the player above, click on the link below to listen directly!

Acast
Apple
Spotify
Stitcher

—

This article about building personal brand for entrepreneurs was first published on We Live To Build.

Image Credit: imtmphoto

The post Developing your personal brand with Stacey Cohen appeared first on e27.

Gone are the days when a jobseeker could send a CV to many companies and get a call for an interview without any fuss.

Nowadays, candidates have to go through a seemingly never-ending number of hiring rounds while also overcoming innovative recruitment technology solutions that have entered the market recently. This issue is particularly prevalent in the tech, finance and energy sectors.

Candidates are now jumping over various hurdles, working their way through a maze of application forms, tests and using all sorts of technology, from TikTok resume applications to video recordings.

These additional steps in the hiring process have made it tedious, confusing, frustrating and demoralising. It seems there is a myth that the more extended recruitment formula will help companies weed out the perfect candidate for the vacant role.

In truth, the applicants who are persevering through this unsettling number of interviews are those who are desperate to get a job. They may not have other opportunities available or the necessary qualities to be successful in the role.

Unfortunately for the recruiters, bad interview experiences can drive talents away and damage a company’s reputation through word of mouth.

So, how can employers strike a balance between streamlining the hiring process and capture significant and granular assessments of the candidate without losing them?

Despite the advances in modern-day recruitment techniques, the current processes still face several challenges.

Also Read: impress.ai raises US$3M to make hiring less tiring for recruiters

Talent shortage

There is a high global demand for tech talent in the technology and digital industries and other sectors. Currently, the supply does not meet the market’s requirements, which means the power no longer resides with HR professionals but rather with the tech-trained applicants.

Recruiters are finding themselves forced to compete for the few qualified candidates, going as far as reaching out to them on job board platforms. In addition, companies now have to raise their salary offers and benefits to attract the best people.

Human touch versus technology

Another challenge is determining when and how to use recruiting technology and when the HR professional should step in to process the applications. Remember, the candidate’s hiring experience is crucial, and their journey through every stage will reflect positively or negatively on the company’s culture.

Chasing trends

Some job interview approaches are unsuitable for certain industries. For example, what a recruiter looks for in a coder will be different from an events coordinator.

Technology also faces a similar challenge, as the tools you might use in one sector might not suit candidates from other niches.

HR professionals have to grapple with outdated and recent interview techniques. The desire to reduce potentially making bad choices has resulted in conducting too many hiring rounds.

Additionally, the fear of missing out is bringing new and sometimes unsuitable recruitment methods to the fore.

Desperation

Lack of employment options and talent shortages create an unexpected issue for companies regarding quality and quantity. The damage to jobs resulting from the COVID-19 pandemic creates gaps, and many unemployed candidates are desperate to find work.

Ultimately, recruitment is expensive, and the hiring managers have to get it right to prevent future costs. If a new hire ends up being unsuitable for the role, the whole process may require undertaking again, adding a further cost burden to the company. 

Choosing the best interview strategy

Presently, employers have access to technological tools for identifying the correct candidate for vacant positions. Experienced HR and talent acquisition managers define the hiring models and technologies needed for different roles. 

It is then vital to map out an interview strategy by first understanding your needs and adopting an agile recruitment process.

Also Read: Why we need to embrace HR tech adoption stat

Here are three areas to focus on:

Sourcing candidates

There is no one size fits all approach to recruitment. For example, various age groups and generations use different job application methods, and HR professionals may also use diverse hiring models. Even so, knowing whether a candidate fits the hiring criteria before moving forward to the interview stage ensures the possibility of success.

Using technology makes it possible to filter the ideal candidates without reviewing hundreds or thousands of resumes. Too many applications can be overwhelming, and failing to respond to them effectively can harm a brand.

A good recruitment strategy includes exploring many recruitment channels to source more suitable interviewees for the specific role.

Focus on one industry

Copying trends that are unsuitable for an industry can hurt the employment process. The latest hiring methods, such as video resumes, do not belong in every sector—these measures might work in more extroverted roles but may not be appropriate for a less client-facing position.

In some industries, tests are helpful to ascertain the applicant’s suitability, but in others, they are just time-consuming and irrelevant.

Versatility is essential in the digital age. Allowing adaptation to different interview and application processes depending on the sector or role can make a difference in finding the right talent.

Limiting interview rounds

Organisations should be aware of the talent shortage and not waste time during recruitment. The number of rounds needed in the interview depends on the nature of the role and its level in the company. Plus, the faster you complete the hiring process, the less likely the candidate will take up other competing offers.

Guide the candidates through the process and timelines to ensure they know what will occur. Limit the interviews to less than three rounds for minor roles and about four for senior positions. Having excessive rounds will only damage the perception of your company in the eyes of candidates.

Using a talent platform for recruitment

Recruitment technology such as the Grit job search platform is a game-changer with its talent-first approach to hiring. Instead of candidates applying to companies, the potential employers contact them directly on the website highlighting job opportunities that might interest the candidate.

It filters talent by geography, abilities and salary, and HR experts can target future employees, shortlist and contact them.

Moreover, the platform reduces the shortlist period to 24-48 hours and decreases hiring times from a maximum of 12 weeks to just three weeks. Candidates can register on the website in about a minute, and the profile stays anonymous until a potential employer requests to see the full details.

Also Read: What will the next wave of VC investment in HR tech look like?

This search approach is very different from the established job hunting and recruitment methods. It saves companies time, resources, and money by streamlining processes and cutting out unnecessary recruitment headaches.

Talent recruitment will continue to change and evolve as technological advances, including AI and machine learning innovations, and better hiring strategies emerge. Streamlining the process will initially involve using robot interviews and video resume applications before progressing to the stages conducted by humans.

Many recruits and HR personnel will find it easy to adapt, while others, unfortunately, may struggle to adjust to the new realities.

Recruiters must review their internal business processes as the latest technology enters the market. While no hiring model is perfect, it is possible to find a process that fits the positions candidates are applying for and the job level in the company.

Cutting down the length of the interview stages to avoid frustrating the applicants is essential. If the candidates feel the process is tedious, they might drop out believing the recruiter is undervaluing the time and effort to apply for the role.

It can also reflect poorly on the organisation, as the lengthy exasperating procedures may seem part of the work culture there.

The belief that a hiring process of one to three months is the best for securing the ideal employee is not entirely accurate.

While a company might find a fantastic candidate that way, it is also likely that the more desperate applicants and those who do not have other options will stick around longer than others will. The result is an ineffectual, drawn out and infuriating interview process.

 –

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: fizkes

The post How to simplify the overcomplicated hiring process appeared first on e27.

Indonesia’s boutique hospitality and lifestyle company Artotel Group has secured an undisclosed amount in a Series B financing round led by Indies Capital Partners, alongside creative industry-focused Benson Capital.

With the new capital, Artotel intends to pursue a merger and acquisition strategy to expand across Indonesia. 

Another portion of the funding will be used to strengthen the group’s core infrastructure, digitise its operations and enhance sustainability throughout the organisation.

“With Indonesia’s hospitality sector at a critical juncture, Artotel is investing heavily into future growth with a focus on quality guest experience and an enhanced geographic footprint,” said founder and CEO Erastus Radjimin.

Targeting Indonesia’s first and second-tier cities and upcoming tourism locations, Artotel is set to roll out 29 new properties around the country, bringing the total number of its properties to over 50 by 2023.

The company will also continue operating properties and building new two- and three-star hotels under the Kyriad brand, its latest acquired hospitality brand launched by France-based Louvre Hotels Group. 

Also read: From the contributor community: The future of travel, user retention strategies, and more;

Co-launched in 2013 by siblings Erastus and Christine Radjimin, Artotel has four integrated pillars: hotel (stay), food and beverage (dine), event management (play), and curated merchandise (shop).

The group offers a range of lodgings, ranging from cheap hotels to boutique hotels to premium stays, from mass-market to luxury.

Bobotel, Roomsinc, Artotel are among its hotel brands.

Today, Artotel’s hospitality portfolio has 3,000 rooms, including the 1,300 rooms added from its acquisition of Kyriad’s Indonesia operations. 

The group also provides autonomous management of restaurants, bars, and beach clubs in the food and beverage business. It employs a technology-driven strategy to enhance hotel operations infrastructure better to manage booking, management, and guest relations. This covers activities such as brand activation events, online cultural events, and food and beverage delivery.

“Although impacted in the last two years, we are optimistic that Indonesia’s tourism industry will continue to grow post-pandemic based on a burgeoning domestic middle-class and strong international appeal,” said Avina Sugiarto, senior VP at Indies Capital.

Artotel stated that it has consolidated and restructured the company through business planning, increasing business margins and customer satisfaction.

According to the “Hospitality Real Estate Sector In Indonesia” 2020 report, tourism is a significant growth driver for the hospitality industry in Indonesia. The hotel industry is said to be well-developed, offering from five-star hotels to humble guest homes. In 2018, five-star hotels accounted for 39.29 per cent of all the hotels around the country.

The region has also witnessed a clutch of rising travel-tech startups that attract good deals in 2020-2021, signalling the bounceback of the hospitality sector after the pandemic. This includes Singapore’s Vouch and PouchNATION, Indonesia’s Bobobox, and the Philippines’ Mosaic Solutions. Velocity Ventures has also closed its US$20-million fund dedicated to hospitality & travel startups in Southeast Asia this June.

—

Image Credit: ARTOTEL Group

The post Boutique hotelier Artotel secures Series B financing to grow via M&As in Indonesia appeared first on e27.

Market trends may come and go, but one industry that remains relevant and is gaining ever-increasing importance is the energy sector. While some industries go through occasional dips, especially with the global health crisis upon us, the important role of energy has only been magnified by the unpredictable global events that shape how we live.

The energy sector now faces the crucial responsibility of spearheading innovations in many key areas and emboldening startups and companies from other relevant verticals to initiate growth and innovation within their own industries. 

PETRONAS, a global energy and solutions partner with a presence in over 50 countries, recently launched the second edition of its technology accelerator programme, PETRONAS FutureTech 2.0, as part of the company’s initiative to move towards a culture of open innovation within the startup landscape.

What is FutureTech 2.0?

FutureTech 2.0, led by PETRONAS via its corporate venture capital arm PETRONAS Ventures in collaboration with government-linked companies (GLCs) Telekom Malaysia Berhad (TM) and Sime Darby Plantation Berhad (SDP) as well as global venture capital firm 500 Global, complements PETRONAS’ commitment in delivering cleaner energy solutions to achieve its net-zero carbon emissions target by 2050. 

The accelerator programme, which is held from 30 August 2021 to 19 November 2021 also supports Malaysia’s aspiration to spur growth among local startups and venture capital ecosystem builders by working closely with the National Technology Innovation Sandbox programme — an initiative sparked by the Ministry of Science, Technology and Innovation. 

FutureTech 2.0 revolves around three key areas: Facilities of the Future, Future of Energy, and New Chemicals/Advanced Materials. These particular focus areas are aligned with PETRONAS’ technology agenda.

Also read: Japan’s Aichi prefecture all set to build the city of the future by co-creating with startups

Serving PETRONAS’ business needs as it explores new growth opportunities, the 12-week accelerator programme empowers both participating startups and PETRONAS’ business units to find best-fit use cases to address current pain points, catalyse growth and future-proofing. 

FutureTech 2.0 offers its cohort a blend of global and local learning experiences, which includes masterclasses from 500 Global, mentors and local industry experts. The bigger value proposition of the programme is that the participants are able to have access to the expertise and networks of PETRONAS and its corporate partners, where mentors share relevant pain points within specific business segments. 

Other programme benefits include fire-side chats with successful founders and global/local ecosystem builders, access to 500 Globals’ programme perks and networks, potential investors, GLCs, and partners.

FutureTech’s non-traditional approach

Apart from the intrinsically non-traditional framework of the accelerator programme which offers a unique two-way engagement between participating startups and corporate partners, FutureTech 2.0’s unique approach to present industry problems also manifests in PETRONAS Ventures’ drive to disrupt existing markets. 

Head of PETRONAS Ventures, Arni Laily Anwarrudin explained, “We need to go beyond just oil and gas, which means we have to move towards a broader energy sector. So partnering with startups is the way to go because it provides PETRONAS with the insider intelligence and insights needed to accelerate in areas we may not currently see [from the perspective of] a traditional oil and gas company.”

Through this framework, all participating parties gain value from each other’s wealth of knowledge and experience, harnessing key contributors that help accelerate each other’s journey towards a healthy market strategy.

Also read: IES-INCA partners with e27 to support deep tech innovators

The partnership, therefore, changes the corporate innovation landscape and trend by encouraging the innovation culture using agile approaches. By leveraging on the non-traditional thinking embedded in startup culture and the industry know-how of corporates, both stakeholders stand a better chance at fostering smarter, stronger, and more resilient forms of innovation.

Moreover, PETRONAS also believes in internalising important processes in approaching how startups operate. Through FutureTech 2.0, participating startups are able to extend their services and commercial offerings with PETRONAS and its corporate partners in ways that are lean and agile while still conforming with corporate governance standards. In a nutshell, this helps fast-track their ability to commercialise within PETRONAS and the partners’ ecosystem.

Focusing on energy, industry, and digital innovation as key areas

Following the success of the first FutureTech programme in 2019, PETRONAS recognised bigger prospects towards nation-building and saw collaborating with major corporations such as SDP and TM as the way to further nurture the ecosystem. 

FutureTech 2.0 also seeks to create socio-economic impact for the community through various channels, including education and skill investment. The programme also aims to foster tech-driven innovations that support the United Nations’ Sustainable Development Goals.

Arni said, “Technology as a differentiator is the central thrust of our technology agenda. We are steadfast in advancing selective technologies whilst accelerating pace of delivery via critical and strategic collaborations that add to our resource and reserve.” On top of improving efficiencies and operational excellence, she added, PETRONAS strives to differentiate their offerings to gain a competitive and resilient advantage in the energy market.

Diversity in participating startups

FutureTech 2.0 prides itself on prioritising startups with breakthrough technology or innovative business solutions — “disruptors” that can exhibit exemplary talent in improving how we observe, strategise, and execute deployment in PETRONAS as well as its corporate partners, TM and SDP. As such, this year’s participants encompass a diverse slew of startups coming from a wide array of verticals.

Also read: Blue skies for Malaysia’s drone industry with Aerodyne

The FutureTech 2.0 cohort of 20 promising startups include Aerodyne, a drone-based enterprise solutions provider; Poseidon, a digital monitoring technology to assess onshore/offshore structural integrity in real-time; and Boom Grow, a 5G-connected vertical farm. They are only some of the most innovative tech-driven startups in Malaysia today.

Selected startups will receive continued support from PETRONAS, TM, and SDP after the programme, should future partnerships be deemed necessary.

PETRONAS Ventures’ reputable global stamp

PETRONAS’ commitment to raising the bar doesn’t end at inculcating global standards to local startups. Through PIVA Capital in San Francisco, PETRONAS Ventures has a strong partner to tap into the Silicon Valley ecosystem which boasts the largest pool of quality resources in terms of capital, talent, investors, mentors, and scaling experience. The company has also successfully pursued networking opportunities with the symbiotic ecosystem comprising universities, startups, large tech companies, and venture capitalists among others.

With its Environmental, Social, and Governance (ESG) framework, PETRONAS is able to create value upon investing in nine companies to date and help to redefine trillion-dollar markets such as agriculture, manufacturing, chemicals, transportation, and energy.

Startups chosen to participate in FutureTech 2.0 become part of the same legacy of excellence that the company has built. As PETRONAS moves toward revolutionising the energy sector not only in Malaysia, but also across the world, the FutureTech 2.0 cohort of startups and their innovations become instrumental in shaping the future.

– –

This article is produced by the e27 team, sponsored by PETRONAS Ventures

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post PETRONAS FutureTech 2.0 to catalyse tech startup innovation in the energy sector appeared first on e27.

In early-2020, a frequent topic of discussion at my family’s dining table was living sustainably and how we could overcome the hurdles that individuals, communities, and cities faced.

With a teen and a child below the age of ten, my wife and I have been passionate about infusing the right values and behaviours around sustainable living from a young age.

We sought to lead by example– trying our best to make better decisions, whether sorting our trash or setting up a hydroponic urban farm in our balconies.

As we assessed our household’s carbon footprint, there was certainly room for improvement – like using the air conditioner less often – and we definitely made an effort.

Then, like most of the world, our community was hit by COVID-19 last year. Circuit breakers, working from home, home-based schooling, and various restrictions disrupted daily routines.

Our focus on sustainability slipped away as we took care of our loved ones and prayed for vaccines. Cars disappeared from the roads, air travel ground to a halt, tourism vanished, and factory activities slowed down.

Amidst the whirlwind of changes, something amazing happened as well. With us marooned in our homes, the Earth began to heal itself. The air was suddenly (and momentarily) cleaner again. Nature thrived, and our planet seemed almost to take a deep healthy breath.

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

As our attention turned to health and economic recovery, more and more businesses, governments, and societies started to recognise a responsibility that extended beyond just ourselves. We had to bounce back not only stronger but also better – socially and environmentally.

Today, as I reflect on our progress over the past few years, especially amidst the pandemic, I realise that more than ever before, sustainability requires a stewardship mindset.

Every individual, family, and business needs to come together to ensure that our precious resources are cared for and used in ways that create a better tomorrow.

PropertyGuru started at home

While discussions around sustainability have now been around for years, it has remained a complex topic, with many people missing the link between eco-living and home choices. Today, sustainable living can take many forms– environment quality (ventilation, daylight, air quality etc.), energy and water efficiency (less power consumption, generate energy on our own), responsible resource usage (recycle and renewal of resources), and/or commutation (bicycle, access to public transportation, carpool etc.).

Singapore is my home, and the latest trends look promising.

Our latest Consumer Sentiment Study H2 2021 found that 82 per cent of Singaporeans are willing to consider paying more for an environmentally sustainable home. This includes millennials (83 per cent), Generation X (79 per cent) and Baby Boomers (86 per cent), indicating more ecological and socially conscious buyer behaviour across generations.

For these Singaporeans, the top three desired sustainability features in their future home are smart cooling systems (65 per cent), high insulation windows and doors (60 per cent), and solar panels (54 per cent).

It thus comes as no surprise that Singaporeans welcomed the government’s effort in its HDB Green Towns Programme, with 2 in 5 (46 per cent) willing to pay more to live in one.

As Singapore strives to become a smart and green nation, sustainable urban living should take centre stage. It starts right from the home we choose, and how we build and manage it plays a critical role in ensuring our cities and communities are healthy.

To make sustainability a key consideration in today’s consumers’ property search, we have just launched PropertyGuru Green Score, a sustainability rating attributed to condos and HDBs listed on PropertyGuru.

Also Read: How no-code platforms are providing a boost to the real estate industry

The Green Score parameters include the projects’ accessibility to public transport (within 400m), green building rating assessment such as BCA Green Mark certification, and sustainability awards won from ‘PropertyGuru Asia Property Awards’ to help property seekers understand how eco-friendly a project is.

 

When it comes to public transport accessibility, cars, buses, and trains are among the biggest emitters of greenhouse gases, responsible for one-quarter of direct CO₂ emissions globally.

In fact, a car carrying only the driver uses nine times the energy used by a bus and 12 times that a train uses on a per passenger-kilometre travelled basis.

As such, choosing public transport over a private vehicle is the first and easiest step to lower our carbon footprint– and why we chose the number of MRT stations and bus stops within 400m of a project to be a key parameter for PropertyGuru Green Score.

The proximity to public transport reduces our reliance on private modes of transport, and by giving such projects a better Green Score, we encourage consumers to make sustainable choices.

By living near a bus interchange and/or MRT station, not only will you be more encouraged to use the bus and/or train to get around, but you will also walk to it to begin your commute.

On the other hand, construction accounts for over one-third of the world’s energy consumption and nearly 40 per cent of the total CO₂ emissions, urging developers to improve efficiency in their buildings’ design and infrastructure.

Also Read: Southeast Asia is in plastic waste crisis, and these 16 sustainable startups strive to turn things around

Environmental awards like PropertyGuru’s Asia Property Awards and the BCA Green Mark certification recognise such efforts to encourage more property seekers to take such attributes into account in the home buying process.

To check a development’s Green Score, property seekers can visit the project page for condos and HDBs on PropertyGuru.com.sg. The score ranges from 1-5, denoting average, good and excellent sustainability rating of the project.

Becoming the change, we want to see

Green Score is just the start for us. A transition to sustainability permeates the way we live, travel, and eat daily. Sustainable living goes beyond a corporate promise and is a way of life to address climate change.

Internally, we have undertaken a series of ‘GreenGuru’ initiatives motivating our community of over 1,700 Gurus to reduce their carbon footprint. All our offices across Singapore, Malaysia, Vietnam, Thailand and Indonesia have e-waste and recycling bins, and we have replaced single-use plastics with reusable food containers and bags.

Employees also participate in fun green challenges, such as switching to vegetarian lunches and using public transport for a month to reduce individual carbon emissions.

To increase transparency around sustainable living practices, our resources also include green living guides for property seekers in Southeast Asia.

We’re also working with property developers in the region and have seen an increase of 50 per cent in entries of green projects nominated for sustainability awards categories at our PropertyGuru Asia Property Awards.

This means that even when property seekers buy homes as an investment, making a greener choice will likely result in increased demand from renters and future buyers.

Today, we commit to making changes in our own business to meet the goals stated in the Singapore Green Plan 2030 and building a better home for our future generations.

In line with this, we are working on a Greenhouse Gas Emission Audit and Reduction Plan to reduce our greenhouse gas footprint further. The plan goes hand in hand with our Green Travel Policy for business travel decisions to be eco-conscious.

Building  better and greener homes and communities

It is heartening to see that since its soft launch in February 2021, nearly 2 million property seekers have viewed the Green Score.

With all of us spending more time at home, we have re-discovered the importance of sustainable living. In time, I hope this will be a natural way of life, and each of us will place environmental considerations top-of-mind.

Also Read: Life after COVID-19: How and why smart cities need to focus on sustainability

As a parent, a business leader, and a citizen of the world, I am clear on my role in helping build better homes and communities for the future.

Conscious that change starts from me, I have actively worked with my immediate circle of influence to catalyse change. Internally, as a company, we have become more mindful of our responsibility to fuel positive practices in the community we have been a part of over the last fourteen years.

My kids and their peers deserve a planet that is healing itself with the help of each of us who inhabits it. To build this future, we must choose to make better decisions and demand more from ourselves, collectively fighting against climate change.

This change needs to start now – in our mindsets, our behaviours, and our actions.

–

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image Credit: fizkes

The post Sustainability starts at home: How I aim to tackle climate change as PropertyGuru CEO appeared first on e27.

Tiki raises US$136M in second tranche of Series E
UBS AG invested ~US$40M and Mirae Asset put ~US$27M; Tiki was valued at ~US$740M in the first Series E tranche, which came from investors such as AIA, Taiwan Mobile and Appworks.

Antler closes over US$300M, to provide follow-on capital for its portfolio startups
Backers are Schroders, Vækstfonden, and Phoenix Group; While its primary focus remains pre-seed stage investments, Antler will now start offering its portfolio companies follow-on capital as they grow and scale up to Series C.

InnoVen Capital launches new fund targetting SEA startups
InnoVen SEA Fund has completed its first close of US$50M with InnoVen Capital and will be seeking additional investors to participate in the fund; Its launch follows the recent launch of its US$100 million InnoVen Capital India Fund in September.

RHL Ventures looks to raise US$100M for Hibiscus fund
The VC firm has made the first close at US$50M; Hibiscus targets early-stage startups at Series A and B stages and writes cheques of US$1-5M; It has already invested in Naluri and has 3-4 investments in pipeline.

Draper Startup House Ventures launches new global fund, invests in Singapore’s Ferne Health
It will have an APAC predominance due to Draper Startup House International having Singapore as its HQs; Its reach potential includes 60 countries and 30 industries already represented on the company’s platform.

VE Capital Asia acquires Web Imp, Cashapon, TVP for US$37M to strengthen deeptech capabilities
Web Imp guides businesses in enabling digital transformation through intuitive UX/UI design and reliable web and mobile development; Cashapon acquires and elevates leading brands in the retail e-commerce market using AI and ML technology.

AUM Biosciences bags US$27M Series A to advance its targeted cancer therapies
Investors are Everlife and SPRIM Global Investments; AUM will expedite the clinical development and business growth of oncology therapies, particularly for cancers with a clear genetic marker.

Indonesian hospitality brand Artotel Group raises Series B
Investors are Indies Capital and Benson Capital; Artotel manages several hotels, restaurants, bars, and beach clubs across the country; The company, which focuses on promoting local art and artists, also has runs a branding, event management, and merchandising unit.

iSeller, the ‘Shopify of Indonesia’, nets US$8M to become a super-app for merchants
Investors are Openspace Ventures, AppWorks, Mandiri Capital and Indogen Capital; iSeller claims that it processes 1M+ transactions per month across all channels and serving more than 60K business owners in Indonesia.

ESB, the ‘Toast of Indonesia’, adds US$7.6M to its Series A kitty to develop new AI features
Investors are Alpha JWC, Beenext, Vulcan Capital; ESB is an all-in-one provider of culinary business operations software, connecting restaurants’ front-end, back-end, consumers, and supply chain partners.

ION Mobility lands US$6.8M as it prepares to launch smart e-motorbike in Singapore
Investors are Quest Ventures, TNB Aura, GDP Venture, Monk’s Hill Ventures, Seeds Capital and 500 Southeast Asia; ION Mobility will use the money to set up its manufacturing operations in Singapore and Indonesia.

Singapore venture studio to raise US$5M to invest in SEA startups
Xpdite Capital Partners focuses on seed-stage and pre-series A startups; Its portfolio focuses on travel, food, and health startups like Vietnam-based Innaway, Thailand-based Yindii, and Sri Lanka-based Findmyfare.

Pickupp extends its Series A round to US$20M with fresh capital injection from Reefknot
It will use funds to strengthen its operational efficiency to accommodate the growing use of online-to-offline services in Singapore, HK, Taiwan and Malaysia; It will also add 10+ new satellite warehouses across heartland areas in the city-state within the next six months.

Fefifo raises US$3.1M to double the scale of its pilot co-farms in Malaysia
Investors include RHL Ventures and KB Investment; Fefifo describes itself as a “cloud kitchen for farmers.” It aims to encourage the younger generations to explore agriculture as a career.

Creative Galileo rakes in US$2.5M to grow its fun, interactive learning app for kids
Lead investor is Kalaari Capital; Since its launch, Creative Galileo’s app claims to have clocked 4M+ downloads and over 500K MAUs in SEA, Nepal, Bangladesh, UAE and the US.

F&B and retail-tech solution provider eatcosys raises US$2.4M through ECG platform Fundnel
eatcosys is a platform that serves to further expedite the success journey of F&B and retail operators, supporting the progression of the business throughout; It utilises an interconnected system built on retail and financial technology, incorporating several digital platforms and fintech.

Vietnam’s AI-powered female-focused dating app Fika nets US$1.6M
Investors are Swedish firm VNV Global, Global Founders Capital and Keith Richman’s angel fund 31 Atlantic; Fika understands users’ interests, likes and the kinds of profiles they swipe for and against to create tailored matches, suggestions and recommendations to support long-lasting relationships.

Indonesian online lender’s US$1M lawsuit withdrawn
Japan’s Real Kapital sued UangTeman for alleged default on its loan obligations; However, on October 12, Real Kapital has submitted a letter to the South Jakarta District Court to withdraw its lawsuit against UangTeman; The letter also requests the lawsuit’s removal from the case register.

ThoughtFull banks US$1.1M in seed financing to scale digital mental health support across SEA
Investors are The Hive SEA, Flybridge, and Vulpes Investment Management; ThoughtFull connect users to accredited mental health professionals for daily conversations and personalised best-fit mental healthcare.

Ex-PropertyGuru, Carousell execs’ startup Surer nets US$1M to serve insurance firms in Singapore
Investors are Norway’s Kistefos, Markel Corporation’s insurtech investment arm, and unnamed angel; Surer drives network orchestration and efficient communication to help intermediaries and insurers better serve the end policyholders.

B2B e-commerce platform EI Industrial attracts seed funding from Cocoon Capital, Beenext
EI Industrial provides a SaaS e-procurement and warehouse management system to help manufacturers and construction businesses manage their purchasing processes; It currently focuses on the maintenance, repair and operation and mechanical and electrical supply sectors.

—

Image Credit: Tiki

The post Ecosystem Roundup: Draper Ventures’s arm, InnoVen Capital launch new funds; Tiki raises US$136M Series E appeared first on e27.

eatcosys, a provider of F&B and retail tech solutions in Malaysia, has raised RM10 million (US$2.4 million) via the equity crowdfunding platform Fundnel and a concurrent private placement.

Over 90 investors from the retail, financial services and consumer sectors participated.

This round brings the company’s valuation to more than US$24 million.

The funds raised will primarily expand eatcosys’s technological development and strategic investments in the fintech space. This, in turn, will help small retail businesses attract, retain and reward customers through existing platforms such as FoodAdvisor, MyCookingStory, FeedMyGuest, VMO, BoozEat, and Malting Point.

Also Read: How a few up and coming virtual kitchens revitalise the pandemic-hit F&B industry in Malaysia

eatcosys co-founder Tham Lih Chung said: “With the funds raised, we aim to uplift every aspect of the retail industry, from the small independent businesses to large enterprises. As a result of this, we hope to revive other areas of the Malaysian economy as well.”

eatcosys provides an integrated platform that works across three fundamental verticals: platform services, technology-enabled services, and fintech.

The platform utilises an interconnected system built on retail and fintech. It addresses the operational needs of businesses throughout their life cycle. Among these include formatting the framework for web pages, crowdfunding, management for engagement purposes, incubation in terms of development, and other services that fulfil the needs of their clients.

IPO plans

The homegrown retail & fintech solutions provider also has plans for an Initial Public Offering.

“We have a strong mission for supporting the growth of retailers in Malaysia. We want Malaysians to be able to share in our growth and the growth of our country. Crowdfunding is the first step. We have near-term plans for an IPO on the ACE Market, so I hope our fellow Malaysians will support us with this initiative,” said Chung.

Also Read: How cloud kitchen startup COOKHOUSE, started amidst COVID-19, managed to win 35 F&B clients in Malaysia within a year

Headquartered in Singapore, Fundnel has a presence in four countries across Asia Pacific. Since 2016, the platform has facilitated over US$500 million in essential funding for private companies and funds in Southeast Asia from its global network of 15,000 investors.

The post Malaysian F&B and retail tech solutions firm eatcosys raises US$2.4M via Fundnel appeared first on e27.

This article is part two of a four-part article series on helping SMEs chart the course of digital transformation. We will now understand the journey of transitioning from manual to autonomous processes and getting data to yield.

Like it or not, there are data everywhere, and you are generating, collecting or consuming it either consciously or subconsciously in each living moment.

For example, the average human brain is bombarded with over 11 million bits of information per second. This unconscious phenomenon occurs even without us having an inkling about it.

In the context of a machine, the data points required to monitor or diagnose the health or to predict failure drop dramatically to single-digit or tens. In the context of a process in a process industry, based on the complexity, the data points might go up by order of magnitude.

It is only the frequency at which one needs to collect and assimilate the data that would be much higher when it comes to processes than manufacturing or operating products making the data set humongous.

One of my professors said that laziness is a key virtue that led humanity towards technological advancements that you enjoy today. A few centuries ago, if a human being were dreaming, it would be of making a machine that would take away most of his mechanical or mundane tasks; now, the dream is about completely automating them without any human intervention.

Now that we’ve mostly achieved mechanisation in manufacturing let us see what it takes to reach the completely autonomous level of operation.

A machine will get autonomy only when it can learn to adjust to assigned situations; it has to be flexible. Please note, this is a departure from the automation that we have known, which is rule-based and rigid. So, if we want to make the machine learn by itself, we need to pump in a certain level of intelligence.

Also Read: How Warung Pintar builds tech solutions to help warung owners embrace the future

Intelligence cannot be imaginative in nature but has to be derived from facts relative to the context. If intelligence has to be acquired from facts, we need to tap into a data system. The more the data, the more the failure data and the more learned the machine becomes, and subsequently, the higher the probability of accurate decision.

This is very similar to the difference between an inexperienced and experienced professional who has gone through the ups and downs of life, making better decisions than the former.

Since we are creating that intelligence and pushing it into the machine, we call it Artificial Intelligence, unlike humans who naturally acquire it.

So, if our goal (let’s call TO-BE state) is to have a fully autonomous system – could be a machine or bunch of machines or processes for that matter, we shall start from looking at where we stand or ‘baseline’ (let’s call AS-IS) and the steps that need to be taken to reach the goal. Obviously, we would like to (i) keep the spend* as low as possible and (ii) acquire as robust a system as possible that is scalable, idiot-proof** and future proof.

*Tip: Spend is not only the initial investment. It includes the running costs, unscheduled breakdowns, maintenance, spares, replacements and upgrades, personnel training, etc. (TCO – Total Cost of Ownership).

**Tip: Remember not every person on the shop floor is skilled.

As they say, ‘What is not measured cannot be managed. Similarly, what is not managed, cannot be improved. Hence, it’s important to measure at the beginning of the digitalisation journey.

Tip: the best part of this digital journey is that you would realise a return on investment (RoI) at every stage and can stop or postpone at any stage you want.

Let’s say we are at a stage where we record and collect some of the data manually. Some of them are collected and stored in standalone systems like Excel or ERP, or MRP tools. The first thing we need to do is to find ways to (a) digitalise and (b) automate (as much as possible) the data collection.

Automation of data collection would eliminate costly human errors and free up person-hours which could be put to better use. For example, if you are manually recording the “material in” into the production space from the store, we could (a) digitalise the same by adding simple processes like bar-coding (an inexpensive solution) and (b) channel all material through a single gateway (or a conveyor, if it already exists in your factory) with a bar-code reader (could be the handphone***) which is connected to a central server – this is done for automating the data collection.

Network connectivity between different assets to one centralised or a few servers is necessary to achieve digitalisation.

***Tip: Always look for simpler and robust solutions. Try to use common devices and be software-centric as much as possible to avoid maintenance costs and costs due to unscheduled breakdowns.

Let’s call this the first stage of digitalisation

Once you have the data captured and sent to your server or database, you can visualise or monitor the data and check for the cleanliness and outlier if we set some simple rules. You may check the data in their native formats or get all the relevant data on a dashboard.

Also Read: Digital transformation is now real: How COVID-19 has sparked innovation in tech companies

Let’s call this stage visualisation

In this stage, you find out if a particular machine is down or material is in short supply. If you were to gather the data manually, you might not capture the short supply well in advance, as the manual data compilation takes time.

You might already be saving some money when you reach this stage by plugging in leakages.

In the case of processes, the cost savings could be much more pronounced when we get to this stage.

In this stage, we could go a step further to automate notification of an outlier (something abnormal). This could mean a particular stakeholder getting an email notification about, say, a breakdown or depleting inventory.

Once we have clean data from various sources stored in different silos^^, the next step is to gather them all together, create connections between different data tables through common parameters.

Inexpensive tools such as Monarch do a fabulous job connecting to innumerable data sources, reading them in native formats, collecting and arranging them in tables that could be manipulated for further analyses, which we’ll talk about later.

Let us call this stage data aggregation

Tip: Like it or not, you’ll be collecting different kinds of data on multiple databases which are disconnected from each other.

For example, the payroll data might be residing in simple excel files, while MRP might be in MS SQL, inventory in a proprietary database and POs and invoices in PDFs. Reading the native formats and bringing them all into a unified database is no easy task.

The aggregated data could be used for various diagnoses, including Root Cause Analysis (RCA).  Various what-if scenarios could be simulated to find the appropriate corrective measure. The impact of different parameters on the cost and quality shall be studied through simulations using in-built algorithms.

Some of these advanced analyses could also be used for prognosis or predictive analytics. Using Predictive Analytics, machine breakdowns could be predicted hours and days before the failure. OEE (Overall Equipment Effectiveness) and similar metrics would help understand quality and capacity enhancement possibilities.

Let us call this stage diagnosis and prognosis

We want to tweak the process to get better output and profitability when we know what’s going wrong or what could be better. The advanced autoML algorithm could be taught to self-learn and adjust appropriately to situations.

In some situations, finding a solution might not be that easy, or we would like to try out multiple options and adopt the most optimal one.

If we stop the production from trying out different options, we might have wasted machine-operator cycles. Instead, experimenting on a digital replica (model) of your shop floor might prove to be effective.

Also Read: Cultural transformation and digital transformation go hand-in-hand. Here’s how to get it right

The digital replica is referred to as Digital Twin. The Digital Twin could be either very sophisticated and expensive or simplistic yet functional.  Regardless, deep insights could be obtained, which expensive tryouts won’t be able to provide.

Whichever way we find the solution, the next step is to control or take corrective measures.

Since we have digitalised and interconnected our enterprise, or at least a key part of it, we might as well create a digital interface and remotely control the process or the assets (machines and other equipment).

Nevertheless, remotely controlling all the assets might not be inexpensive. In cases where it is expensive to control remotely, instructions shall be given to the shop floor to effect the change, based on the findings.

If the situation warrants and we have the Digital Twin to simulate and find the optimal solutions, the corrective measures could be applied in near real-time, thus saving costs. With a small incremental effort, a self-learning framework may be set up.

Let us name this stage control and correction

When we reach the stage where we can diagnose, diagnose, find optimal corrective measures, and communicate or control the machine remotely, all it takes is to automate the whole process.

The decision-making framework using AI and ML could take direct action based on the insights obtained from the above steps. At this level, when the system has become self-diagnostic, a self-healing framework could be applied.

This is when the system becomes autonomous.

Below is a quick representation of the above steps:

Stay tuned for the third article in this four-part series. We will dive into digital transformation opportunities across the enterprise and understand the role of data analytics in helping SMEs make better decisions.

–

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: stnazkul

The post Digital transformation for SMEs, Part 2: Understanding its maturity cycle appeared first on e27.

Across the globe, businesses and consumers see sustainability buzzwords being used constantly– often too much and in places, they don’t apply. But how does this increased saturation of sustainability messaging affect what consumers want from brands?

We have recently looked at the regional consumer landscape and asked how people really feel about tech brands and their sustainability efforts; are they doing enough, do consumers feel greenwashed and do they actually pay attention to sustainability messaging?

The short answer is yes– consumers really do care about the action behind the message and within the tech space, this is particularly prominent.

However, according to a BBC Sustainability Study that was conducted earlier this year, no major consumer tech brand has been recognised as a leader in the sustainability space despite consumer demand for tech brands to step up.

In fact, 55 per cent of the consumers we asked were not even aware of technology brands’ sustainability portfolios.

According to the study, this signals a huge missed opportunity for consumer tech brands, as over 80 per cent of consumers plan to make a tech purchase within the year, and 84 per cent of consumers indicated that they would purchase from a brand that shows its commitment to sustainable practices.

Not only this, but they would pay more for it– 73 per cent of consumers indicated that they were more ready to buy “green/sustainable” products even if they cost a little bit more.

However, consumers are becoming savvier, more aware and critical of greenwashing, so brands need to demonstrate that they can walk the walk as well as talking the talk.

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

Based on our findings, the top sustainability priorities that APAC consumers want consumer tech brands to focus on include:

• Understanding the need for sustainable efforts towards progress, however, that may look for your industry and business (65 per cent)
• Partnering with suppliers who support sustainable practices (50 per cent)
• Supporting communities that take up sustainable practices (46 per cent)

Furthermore, consumers are prioritising sustainability beyond the single lens of eco-friendly products. The study found that:

• Eighty-two per cent are more careful to avoid purchasing products that potentially have a more harmful impact on the environment
• Sixty-nine per cent feel that companies should reinvest in communities impacted by their businesses. For example, by planting new trees in areas impacted by deforestation, businesses will be protecting the natural resources from the adverse side effects of manufacturing for local communities
• Eighty-three per cent feel that companies should focus on educating their customers on the importance of sustainability

As such, consumer technology players should ensure their products and services truly reduce their impact on the environment and this needs to be evaluated across the entire product range and operations.

For example, many eco-projects by larger oil companies are undermined when you look at the overall environmental impact of the brand across their entire operation.

Sustainability plans should also include reinvestment in local communities, and ensure that operations and manufacturing have an overall positive impact on the communities that support these processes.

For consumer electronics, the manufacturing process typically involves multiple vendors along the entire supply chain, and consumers are now more critical about companies ensuring that their own manufacturing, and their vendors, provide safe working conditions and improve the lives of people in the communities that they operate in.

Lastly, brands should be more proactive in educating customers about sustainability.

As mentioned above, 83 per cent of those surveyed would like brands to invest in educating consumers about the importance of sustainability, and there are so many avenues open to brands to do this including branded content, interviews with national media or sponsorship and advertising campaigns. And brands should be consciously encouraging their consumers to make more eco-friendly choices.

For example, more consumer electronics manufacturers are making it easier for customers to either trade-in or recycle old devices or reduce the amount of e-waste.

Building trust with consumers through responsible actions is critical but businesses need to ensure that they communicate these efforts to their audience in meaningful and effective ways. The first order of business is for a brand to communicate how it embeds sustainability into the core of its business.

Also Read: Life after COVID-19: How and why smart cities need to focus on sustainability

Consumers are alert to and wary of greenwashing and will call it out if they see sustainability messaging as an “add-on” or a one-off CSR initiative. Explaining how a brand embraces sustainability into the heart of its operations creates a positive and desired connection with the consumer.

Consumers also want to see progress and even if businesses are not fully formed with their sustainability action plans, it does not mean that a brand cannot communicate its goals and outline how it will operationalise its plans through tangible targets set to a timeline.

Vague or motherhood statements of sustainability only serve to open a brand up to accusations of greenwashing but by setting and communicating tangible targets or goals, brands demonstrate a real commitment to sustainability.

For example, some brands have communicated clear goals of reducing their carbon emissions by a certain year, and continue to maintain open communication with stakeholders by providing annual updates on their progress, underscoring their long-term commitment to sustainability.

Of course, getting this right takes time and the willingness to navigate the shifting nuances around sustainability. At the BBC, we have been on a steep learning curve, unpacking the complexities and nuances of how to build and tell authentic, credible brand stories on behalf of our advertisers.

We recognise that brands are often at different stages of the sustainability journey and there are challenges, including regulatory policies, that dictate what a brand can and cannot say. This underpins the importance of crafting accurate and tonally sensitive content, all of which is key to building consumer trust and maintaining accountability.

For all brands grappling with these challenges, we cannot emphasise enough the significance of being open and transparent with existing facts as they stand and to build from there.

While consumers are willing to accept that change cannot happen overnight, brands must fundamentally reappraise their holistic messaging framework around their sustainability efforts and initiatives.

It is really important for brands to acknowledge any sustainability shortcomings, as long as there is a commitment to work on changing these in the long run.

–

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: rabusta

The post How consumers are prioritising sustainability beyond the single lens of eco-friendly products appeared first on e27.