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iCo-op.net completes mobile transaction loop Computerworld, Singapore, Vol. 10 Issue No. 9, 3 - 9 December 2003 ICO-OP.NET, which provides solutions to help enterprises manage their business models, is aiming to bridge the fulfillment gap in mobile commerce with the introduction of an auto-authentication device for mobile transactions. By TAN EE SZE ICO-OP.NET, which provides solutions to help enterprises manage their business models, is aiming to bridge the fulfillment gap in mobile commerce with the introduction of an auto-authentication device for mobile transactions. The iCo-op scanner automatically authenticates the fulfillment of paid transactions at a collection or payment counter. This is especially applicable to online and mobile transactions, where an electronic receipt or m-token is sent to the payer's registered mobile device via short message service (SMS). In each m-token, a unique transaction ID (TID), typically a 12-digit number, is issued together with the transaction details. It may also include other information such as product information, payment value, collection venue and reward points. The iCo-op scanner is deployed as an input device at the collection or payment counter to scan the TID into the system for auto-authentication of the customer's payment.
"In today's situation, various degrees of automation have been implemented in the ordering and payment processes to enhance the customers' experience," he said. "However, the missing link is still in auto-authentication at the fulfillment process." Problems encountered with manual authentication at the fulfillment stage include slow processing due to the need for human interaction, human error and possible communication gaps between the consumer and customer service officer. "Automation is the key to address the issues and enhance the user experience," said Ng. In an m-ticketing scenario, for example, a customer books tickets for an event through the web, handphone or PDA and makes a payment to confirm the booking. The merchant then sends the m-token to the customer, to be presented at the ticket collection counter. The iCo-op scanner is used at the counter to scan the TID for authentication, and the system automatically verifies the claim and prints out the tickets. According to Ng, one of the key challenges faced by the iCo-op team was to make the scanner really easy to use, and to enable it to scan any handphone. "There is a whole range of handphones out there, from the latest colour LCD type to the old fashion phone with back-lights of various colours – green, blue, amber, white. The fonts are also different in font type and size," said Ng. "The key issue is really to make it 'idiot-proof' and easy to use. We have done that." The scanner can auto-align with any handphone. It also detects the handphone automatically to initiate the scan. The cost of the prototype is below $200, and Ng is planning to keep the actual cost of implementation to below $200 per unit when the scanner is mass-produced. He said iCo-op.net is "very close to the final stage now", with the prototype attracting interest from parties in Singapore and the region. Ng described the auto-authentication scanner as an integral part of iCo-op.net's strategy to deliver its solutions through the mobile platform, because it is the most pervasive platform of communication. He cited a Gartner study which indicated that worldwide mobile phone unit sales amounted to 114.9 million units during the second quarter of this year, on the back of two consecutive quarters of year-on-year growth. "This is a very strong indication that there will be a demand for a better way to automate authentication for m-applications," he said. With average voice revenue per user stagnant or worse, actually declining, and SMS presenting the most pervasive form of data applications today, Ng is optimistic that the iCo-op auto-authentication scanner will play a key role in the explosive growth of SMS-based mobile applications such as m-booking/ticketing, m-loyalty and m-payment. |
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By CHARLES F. MOREIRA FRESH from two major successes for its mobile phone-based iCo-op customer loyalty solution in Singapore, iCo-op.net Pte Ltd is making inroads into Malaysia with prospective clients among the banking, insurance, telecommunications, retail and entertainment industries. The two success stories in Singapore are American Express which has been using iCo-op for a year and SAFE Superstore (formerly Singapore Armed Forces Emporium) which has been using it for six months. Due to non-disclosure commitments, iCo-op.net managing director Dr Jerry Ng Kok Loon could not elaborate on details of how or what its two customers use iCo-op for. He is confident the company will have at least five Malaysian customers in a year's time. “Current customer loyalty programmes are unfair to consumers who buy something with their mobile phone and then have to go to the merchant to collect the loyalty rewards,” said Ng. He explained that iCo-op's SMS-based loyalty programme allows reward points or discounts to be sent directly to the customer's mobile phone by SMS. They can then use it to automatically redeem discounts when they pay at the counter since the iCo-op application interfaces with the business' computer system. iCo-op.net demonstrated to In.Tech last week how a customer registers his name and phone number with a supermarket in an SMS. The supermarket's computer system captures his name and phone number in its database and assigns him an account number, then notifies him by SMS. When he later goes into one of the supermarket's branches to shop, he activates his loyalty programme by sending the supermarket an SMS containing the number attached to his trolley or shopping basket and the system automatically associates the trolley number to his account. The system then sends a 2% discount notification by SMS to the customer's mobile phone. When the customer checks out and pays for the goods, the cashier enters the customer's trolley or basket number into the payment terminal and the system automatically deducts the discount from the customer's bill. Where applicable, the system can also credit the customer with additional bonus points. “Thus the shopping cart or basket becomes the customer's loyalty card for the duration of his shopping. This means he does not have to carry a loyalty card,” said Ng. iCo-op's targeted marketing and profiling capabilities enable it to keep track of the customer's buying pattern and preferences which lets it inform customers of special offers on their preferred goods like wines, chocolates, meats, fruits and cheese the next time they activate their loyalty programme. iCo-op can for instance increase a customer's discount to 6% after their third visit as an incentive to keep them coming back to the supermarket. Its predictive marketing capabilities can detect changes in the customer's buying pattern and to alert the customer of relevant special offers and discounts. Mobile tokens In case of a loyalty programme, the system notifies the customer of redeemable points and discounts on purchases and when they go to the participating establishment like a cafe, restaurant, etc, they place their phone with the message on its screen onto a special reader developed by iCo-op.net. The device would read the discount or reward point particulars from the phone screen and make the appropriate deductions. “Alternatively, they can buy cinema, concert or even airplane tickets with their mobile phone, receive confirmation by SMS and when they get to the cinema, just place their phone face down on the reader at the turnstyle which automatically lets them in,” said Ng. “Moreover, if my son asks me to advance him some money to buy something, I can send it to him via SMS. He then places his mobile phone over the scanner at the store to purchase the item without having to go through the hassle of answering questions,” Ng added. Of course, all this requires prior arrangement with banks and telcos. While small purchases like soft drinks and bus tickets can be charged to the mobile phone bill, larger purchases may have to be made through a participating bank. Predictive intelligence “CleverPath not only analyses a business' current and past performance based on data gathered and its business rules but it also looks forward and intelligently adapts to volatile business conditions like the entry of new competitors or new products for which no traditional rules exist to handle, so it uses artificial intelligence to handle these tasks instead,” said Computer Associates (M) Sdn Bhd marketing manager Luke Soon. He explained that CleverPath also performs queries and generates reports, online applications processing (OLAP), data mining as well as deployment to answer questions like “what should I offer this customer today?” “Instead of looking at customers as a mass, CleverPath treats each customer as an individual with whom it can develop a long-term relationship and develop mindshare in the person so he or she keeps coming back to buy a product or service,” said Soon. CA is focusing strongly on mobile data applications, believing it to be the next killer application which can raise mobile telcos' average revenue per user, as well as its own revenue. CA is currently working with a stable of value-added resellers, implementation partners and systems integrators like iCo-op.net to achieve this vision. For more information, check out iCo-op.net's website at www.ico-op.net
or call Computer Associates Malaysia at (03) 7490-1888. |
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Applying WUNG to EBM iCo-op.net aims to become a leading provider of Enterprise Business Model (EBM) solutions, helping corporations to align their business revenue and profit goals with the CRM (customer relationship management)/loyalty demands of their customers. Using "what-if" scenario analysis and adaptive neural and business rule technologies, iCo-op.net enables companies to adaptively model their business units (drilled down to customer-specific accounts) to proactively predict and optimise revenue and profit. To date, iCo-op has already filed six patents and two trademarks to protect its intellectual properties in EBM management technologies. Its EBM applications today include a unique mobile CRM/loyalty solution, predictive marketing and enterprise business performance forecasting, said founder Dr Jerry Ng Kok Loon (left). iCo-op.net also develops products that can detect fraud in real-time using artificial intelligence technologies. Its latest product is an auto-authentication system for mobile application for mobile online commerce. The patent-pending SMS-token scanner bridges a current gap in auto-authentication in mobile applications (such as mobile ticketing/booking, mobile loyalty, mobile payment): Up till now, there is no device that can do auto-authentication effectively in mobile applications, said Ng. iCo-op's business model is that of a solutions vendor, with revenues from licensing and professional services. It also forges alliances with selected industry leaders to go to market, leveraging on its intellectual properties to add value to its partners. iCo-op has a presence in Malaysia, Philippines and Thailand and will be expanding to Indonesia, India and China by the end of 2003. The two-year-old startup that believes Singapore can develop world-class indigenous software. This is firmly reflected in its core values of "WUNG": World class quality, Useful to people, Novel in ideas, and Global market oriented, said Ng. "We aim to become the world's leading EBM management software company by delivering innovative solutions that address prevalent needs of corporations," said Ng. Its EBM solution has been certified ca smart with CleverPath portal and business intelligence solutions from Computer Associates. The company also partners Software AG under the Infocomm Development Authority's iLIUP (Infocomm Local Industry Upgrading Programme). |
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Web-services fund to train specialists By Audrey Tan THE Infocomm Development Authority (IDA) of Singapore has roped
in German technology company Software and seven local companies
to give Web services here a boost, while creating 41 well-paying
jobs in the industry.
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Web services get a boost from IDA By Tang Weng Fai IN another effort to create jobs in the IT industry, the Infocomms Development Authority (IDA) and eight IT players said they will spend $5.4 million to train people in the burgeoning area of web services skills. Speaking at an industry conference yesterday, Tan Ching Yee, CEO
at the IDA, said the funds will be used to train IT specialists
in web services. The IDA will contribute 30 per cent of the $5.4 million, with the
other eight players led by German software company Software AG paying
for the balance. So-called 'web services' are software programs working over the web and touted by analysts as a software equivalent of the Rosetta stone, allowing translation of data between different hardware and software platforms. Yesterday's announcement follows on IDA's industry promotion efforts
in web services. Through this programme, IDA and its industry partners are committed
to creating 88 jobs with an estimated commercial revenue of $46
million over the next two years. |
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People at training: Getting XML Exposure A) About the training programme… I have applied for several iTA (the Infocomm Development Authority of Singapore's infocomm training and attachment scheme) training programmes offered by Software AG, including courses on the EntireX Integration Server, XML Technology and the Tamino XML Server. These were full-time training courses which were held between January and April last year. Each course lasted one week, and there were about 10 people in each session, including one other person from iCo-op.net. The lessons were held at Software AG's premises. B) What made you go for this particular course? Our product, iCo-op Enterprise Business Management Solution, makes use of a range of products from various companies. The solution aims to help companies to drive revenues through closer relationship with their customers. It does forecasting, reporting and analysis and other aspects of customer relationship management. As such, it has to integrate with other ERP (enterprise resource planning) systems. Within our solutions, we also use products from multiple vendors, such as the Tamino database, Oracle database and Computer Associates' CleverPath Prediction Analysis Server and Cleverpath Portal. Our developers therefore have to have knowledge that cuts across different fields of computer engineering. As a fresh graduate from Nanyang Technological University (Liao graduated in 2001 with a Master of Philosophy from the Information division of NTU's School of Electrical and Electronics Engineering), I did not have the requisite experiences and knowledge at the beginning. I had never even touched Tamino before. It was only when I joined iCo-op.net in January last year and went for the training, that I picked up the specific product knowledge. Although each course lasted just one week, it was enough because I already knew the basic principles from my undergraduate and graduate studies. Being a startup company, the training courses offered by Software AG were very helpful during the development process. It enabled me to catch up with the advanced technology and latest products quickly. C) Useful lessons… The XML training course offered by Software AG XML (short for extensible markup language) is extremely useful to me. Our product is purely based on Java, which is platform-independent. By adopting XML in our solution, our product is made to be more dynamic, and extensible. When it comes to an enterprise solutions, a lot of integration is needed for different products. Now the latest technology is to use web services to communicate, and XML is a core technology for web services. With XML, and open standards, it is possible to do that kind of integration between iCo-op.net's solutions and other ERP systems. D) Time management… Basically these were all one-week training courses, so I could afford to attend the training course full time. More information on iTA is available at http://www.ida.gov.sg,
under Infocomm Training Schemes/Training Programmes/iTA. |
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iCO-OP'S ENTERPRISE BUSINESS MANAGEMENT SOLUTION CERTIFIED CA SMART™ WITH COMPUTER ASSOCIATES' CLEVERPATH
The ca smart seal is earned by solution partners who deliver eBusiness value and technical excellence through the integration of their products with CA technologies. "iCo-op has effectively leveraged CA's CleverPath portal and business intelligence solutions to offer corporate sales and customer relationship managers a powerful platform for pinpointing actionable, emerging market trends and discovering hidden profit opportunities," said Stacy Leader, vice president, Solution Partner Program, CA. "We are particularly impressed with how iCo-op, under the leadership of Dr. Ng Kok Loon, has taken advantage of the existing functionality of CleverPath to accelerate time-to-market for its own ground-breaking application suite." CleverPath delivers unique portal, business intelligence, rules, and predictive analysis capabilities that support a broad range of new and emerging standards. These capabilities allow businesses to intelligently deliver timely, relevant and comprehensive data and information to the right people at the right time - enabling them to make more accurate and reliable business decisions. The iCo-op Solution is an integrated sales business application solution that can help corporations predict, execute and respond faster to market dynamics to drive revenue growth and stay ahead of their competition. It is comprised of three modules: The iCo-op Solution is a major breakthrough in enterprise business management because it empowers corporations to do high-frequency business planning in a unified and consistent manner across the whole organization, from the corporate level to the individual customer, and to dynamically implement CRM/loyalty strategies that provide substantial, quantifiable ROI. "By leveraging CA's CleverPath technologies, we have been able to endow our SalesDynamics suite with assured quality, flexibility, reliability, scalability and extensibility," said Dr. Ng Kok Loon, iCo-op's CEO and a National Young Scientist & Engineer award winner. "We are proud that our solution has received ca smart certification from CA, which is the only enterprise software company that is globally ISO-certified." About iCo-op
More information about iCo-op.net Pte Ltd can be obtained from www.ico-op.net # # #
All trademarks, trade names, service marks, and logos referenced
herein belong to their respective companies. |
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People at work: Going into overdrive By Melanie Liew Name: Low Yee Wee Previous work: New graduate. Current work: I've been with iCo-op.net for the last nine months. Last October, when I graduated, the recession was just beginning. And, coupled with the impact of the 9/11 attacks in the United States, the job scene was quite dismal. Therefore, I'm glad for the opportunity of being able to work in iCo-op.net. This, I believe is a great opportunity for me to have some on-the-job training and to draw experience from.
As a consultant, I provide the front-line support of our application to channel sales partners and customers. Prior to the launch of the company's product, I was rather involved in the research and development of our application. Our enterprise business management product will enable organisations to reduce business planning cycles with a predictive planner. Our value proposition is to provide an enterprise business solution which will enable companies to plan, execute and respond faster to stay ahead of the competition. Together with our technology partners – Computer Associates and Software AG, our team worked out the breadth of possibilities that our platform allows. Another area of responsibility is that I have to keep abreast of the latest technologies. This is important because of the research and development focus of the company. This way, we can be sure that our research efforts are one step ahead of the market. This is essential if we are to keep our edge as a technology startup. Although our solution is available, we, as a company are constantly striving to enhance our platform and to include more features. From time to time, it will be necessary for me to join our chief executive in sales presentations to potential customers. I always enjoy meeting prospects. Being present at sales presentations is an enriching experience, because of the potential that our platform provides to our customers. Since each implementation is unique, it gives us the ability to widen our experience. Each presentation in itself, is a learning experience because our team gets an insight into how decisions are made in the different companies. In addition, we are also challenged as to how certain features of our product can be enhanced. What's good about the job is that I get to attend many seminars and conferences which will keep me up to speed with the developments in new technologies. In this way, I get to find out the concerns of the IT world and the current issues that information systems managers face. A high point in my short career was when our company participated in CommunicAsia, a major exhibition in June where I had the chance to talk about our platform to prospective customers from Singapore and from the region.
We developed a platform to allow enterprises to manage and forecast their business in a web-based environment. One of biggest challenges that I face is that because we are a small outfit, it is necessary for us to wear many hats. For example, sometimes we are required to switch from working with code to putting together a sales presentation on the fly.
Teamwork is key. The company has a very dynamic and open environment, where everyone works shoulder to shoulder. Whenever there is a new idea or a good prospect, the entire company meets to discuss the strategy for going forward. It is a dynamic, and yet comfortable environment. In fact, I enjoy going into the overdrive mode every now and then. The good thing about working here is that there is the opportunity to learn and grow, and to build up team rapport. I am fortunate that I can work in an environment where I can meet many people and have the chance to meet technical counterparts in other companies. There is also the opportunity to network with technical specialists and decision makers of companies, large and small. Training is important to the company and so, in my nine months here, I have already completed two courses in extensible markup language at Software AG and a few courses from Computer Associates. These courses helped to boost my programming skills. In addition, I have also learned to work with all levels of people which will go a long way towards improving my soft skills.
Apart from technical skills, a candidate needs to be a team player as well as have the ability to multi-task because the job requires that one be able to work in development and in sales. |
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From learning music to creating accelerated infocomm change (Extract) Launching Pad to the World Dr Ng is working with Computer Associates (www.ca.com) as well as Software AG (www.softwareag.com.sg). His solution caters to business planning, customer relationship management (CRM) and loyalty programmes (patented by iCo-op.net) to improve revenue, as well as analysis and reporting modules. The solution was developed using Computer Assoiciates' CleverPath Portal, patented neural network Neugents® tecnology based CleverPath Predictive Analysis Server and Forest & Trees reporting tool. It is also XML compliant with the support of Software AG technologies. |
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iCo-op promises short planning cycles By Jorina Choy A more integrated and shorter business planning cycle and higher revenue are what companies can enjoy if iCo-op’s new enterprise business management (EBM) software really does what it promises. Singapore-based iCo-op integrates business intelligence and customer
relationship management technologies, all based on Computer Associates’
CleverPath technologies, to come up with the three modules of the
EBM offering: SalesDynamics Predictive Planner, SalesDynamics Revenue
Driver, and SalesDynamics Predictive Planner eliminates the many long business planning processes — which can take 1-3 months to be filtered down from the top management to the sales people — into a one-click process. This module is based on CleverPath Predictive Analysis Server. SalesDynamics Revenue Driver includes a CRM/Loyalty component that helps capture customer mindshare, which in turn can increase revenue. “Our software can plan out a rewards program based on customer usage and generate SMS (short message service) messages or e-mails to inform the customer at stipulated times that, for example, they will get an additional 10% bonus if they use their credit card to pay a certain number of dollars,” said Ng Kok Loon, managing director, iCo-op. SalesDynamics Analyser & Reporter captures sales and business metrics like revenue growth and competitive information, and analyses the data to generate more detailed loyalty programmes. This module is based on CleverPath Forest & Trees. The front-end
interface to the three modules is CleverPath Portal. |
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TECHNOLOGY STARTUP: The Wung Principle
iCo-op.net is aiming to reduce business planning cycles to a click with the Predictive Planner that forms part of its enterprise business management (EBM) solution. Powered by Computer Associates' (CA's) CleverPath technology, the company's software comprises three web-based modules that marry efficient business planning with customer relationship management (CRM) and business intelligence (BI) in a "high frequency EBM cycle". The modules are SalesDynamics Predictive Planner, SalesDynamics Revenue Driver and SalesDynamics Analyser and Reporter. Quoting a Gartner Dataquest report, iCo-op.net managing director Dr Ng Kok Loon noted that 60 per cent of IT spending priorities in the Asia Pacific were in the areas of CRM and BI. "That is our primary focus. Despite what is said about the lack of success stories in CRM, people will still continue to invest in it because they have done what they can with ERP (enterprise resource planning). Profit equals revenue minus cost. Cost they have minimised, so now they need to drive revenue." But first, the business plan. Drawing a parallel between business planning and BI, Ng noted that BI used to be a very "tiered" process involving divisional directors, managers, heads of departments and the frontend sales person. "When sales say they have missed the target, it used to be about a month before the boss knew about it. But now BI tools do it almost instantaneously, so why can't we do this with business planning?" Currently, business planning can take anything from one month to two or three months, depending on the size of the company. By the time the frontline sales person receives the draft plan, puts in his input and sends back, the decisions will be made based on historical information, Ng pointed out. Addressing this problem, the SalesDynamics Predictive Planner leverages CA's neural network technology to look at tendencies instead of historical and current information, and to target specific people. "This way, the CEO (chief executive officer) can plan down to the salesman level," said Ng. But, Ng is quick to point out, "A plan without execution is just a piece of paper. There is a need to execute it expeditiously." Herein lies another problem. "Companies typically operate in silos," observed Ng. "For example, CRM is usually not integrated into the business plans." The moment the business plan is made, it has to be integrated into the revenue drivers, he said. Take loyalty solutions, for example. "If I invest $1 in it, I don't want to get back $1. That's doing work for nothing." The way iCo-op sees it, one way to improve the ROI (return on investment) is for the organisation to capture mind share. He gave the example of the credit card business, where 30 per cent of card holders are dormant and where the attrition rate is about 15 per cent. "Most consumers have two or three cards, and they may use one card five times a week, and the other maybe two times a week. If you can just capture their mind share, so that they use it one more time.…" One EBM application would be to have the software optimise rewards programmes for optimal ROI. For example, when a customer hits a certain target spending, he or she will be automatically informed of bonus rewards. Rounding off the iCo-op suite are the BI tools SalesDynamics Analyser and Reporter, which provide users with a unified view across the whole organisation." iCo-op.net's target sectors are finance, retail, services and logistics. The company is also developing solutions for business-to-business markets which involve channel sales, distribution sales and franchisees. "It's about the incentivisation of distributors," said Ng. iCo-op.net began developing its EBM offerings in October last year as a CA partner under the Infocomm Local Industry Upgrading Programme (iLIUP). According to Ng, the company has benefitted greatly from iLIUP. "It would have taken us one, if not two to three years, to get from the concept stage to product stage. With CA's support, we started in October and we managed to compress that into half the time." iCo-op.net, which currently has five people doing technology development,
was founded by Ng in 2002, after he retired as managing director
of Singapore-listed Ultro Technologies. But he also needed the time to crystallise his ideas. "I'm an intuitive person," said Ng, who has chalked up about 20 years' experience in research and development and business. "It was clear to me that businesses really need to drive revenue. With ERP and SCM, they have maximised their resources. CRM is an area of growth, but they need more than sales force automation or contact management. They need a new strategy." In the middle of last year, he decided that the time was right. So, with funding from the Economic Development Board and the Infocomm Development Authority of Singapore, and a new name iCo-op.net, he swung into action. But the "Wung" in WungTech remain his guiding principles – World class quality, Useful to people, Novel in idea and Global oriented. "I think to bring a company global is a real challenge. The most important thing is vision, and the experience to formulate a strategy," he said. "I can do it faster but there will not be any magic. You need passion for it to work, you need to focus, and you have to be good at it," he added matter-of-factly. "I want to make an impact on the global scene. I want to put Singapore on the map before I retire." |
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New integrated biz planner solution COMPUTER Associates International Inc and Singapore's iCo-op.net Pte Ltd now offer an integrated business planner solution under the iLIUP (Infocomm Local Industry Upgrading Programme). 'The solution goes beyond just automating sales, marketing or customer service processes,' iCo-op.net said. 'With our Next Generation Enterprise Business Management solution, companies can notify their customers about the current status of their rewards programme, and how they will be able to obtain it, through multiple channels, including SMS.' |
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Reward Customers with iCo-op CRM/Loyalty iCo-op CRM/Loyalty solution is a next-generation CRM/Loyalty solution. Using CA’s CleverPath Portal, CleverPath Predictive Analysis Server, CleverPath Forest & Trees®, and CleverPath Reporter, this solution helps companies drive revenue, gain customer mindshare, increase market share, and differentiate themselves from their competitors. iCo-op CRM/Loyalty goes beyond automating sales, marketing, and customer service processes. Totally transparent to the end user, it captures various sales and business metrics such as revenue growth and competitive information then analyzes that data, to generate actionable CRM/Loyalty intelligence. Customers can be notified about the current status of their rewards program, what they’re going to receive in the future, and how they will be able to get it. This information is delivered through multiple channels, including email and wireless devices. For example, an airline can use this application to manage its frequent flyer program. By capturing and analyzing travel information, the airline can notify its customers of their current mileage and what they can expect in the future. For more information, visit Booth 1530 in the World Exhibition Center. |
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Dared to Make a Difference GO for it while you're young. There is no excuse not to carve a niche for yourself if you are young, able-bodied and have a good mind. All considerations are just excuses, says Ng Kok Loon, CEO and founder of iCo-op.net, a Singapore customer relations management (CRM) firm. 'If you're lucky, you may strike it rich and be very successful; or you may go the way of most people, stumbling a few times and picking yourself up,' he says. 'When you are young, you won't die. Instead of driving a car, you walk. Instead of buying new shoes, you repair the old ones.' This was probably an allusion to his younger days where he remembers working overnight at a baking factory before he received confirmation of his university scholarship. 'When I was hungry, I ate bread. I didn't die.' For a late-blooming entrepreneur at 45, Dr Ng has no regrets despite his advice to others to start young. He started out in 1983 as an engineering lecturer at the then Nanyang Technological Institute, now renamed Nanyang Technological University, where he taught for seven years. While carrying out research there, he received Research Development Assistance Scheme grants from NSTB from 1986 to 1989 and won the 1989 National Young Scientist Award. He then moved to the Productivity and Standards Board, then known as Sisir, to head technology development for two years. Next, he joined his primary and secondary schoolmates in technology-based company Uraco, now renamed Ultro Technologies, as a managing director to see the company through its public listing in 1998. He left in 2000. He explains why he left Ultro: 'I think their business model is at a dead end. They are more involved in trading and manufacturing, and I'm a high-tech man.' He then took some time off to conceptualise his business plan before setting up iCo-op.net with his university mate Teh Yew Shyan. Academia, public sector, private company, even surviving three organisational name changes, and now a start-up - the man has seen it all. So how important does he think experience is to an entrepreneur? 'Experience allows me to be more proactive. I can see the downside of things, but I will not let it stop me. I'm very gung-ho - I charge, but I steer clear of what I think can go wrong. There is a compromise: you either start young or you gain experience first. But if I had a chance to do it all over again I would not have chosen a different path.' Coming from what he described as 'not a very rich family', Dr Ng recounts experiences of working before and after school to help out the family. 'Coming from such a background makes me more able to cope with stress. No matter how bad the situation is, I say to myself, 'There must be a solution to this'.' And he is no stranger to such situations. Starting the company in 2001, when the recession was at its nadir, he saw companies with more cash and better teams folding up around him. Late nights were a norm in his research days, but with his own company the pressure has intensified. Working hours are undefined, worrying hours even more so. 'Let's say you have something to show at 9am tomorrow, and it's 9pm at night now. You say, 'Good, I still have twelve hours to finish this!'' he says, chuckling. Being classified as a technology firm has also become a bane when it comes to funding. He laments: 'Most VC companies have a portfolio and IT is a very competitive area for funds. We've been knocking on many doors.' 'The greatest difficulty is getting people to believe you, especially in Singapore. That you have a breakthrough product. Sometimes the people who assess you are too young, so they tend to play safe. I've seen people with a know-all attitude who are very arrogant. 'Our environment here is not mature enough. We're just too small and unexposed.' The educational system is partly to be blamed. His take on it? 'All this talk about teaching creativity is, to me, barking up the wrong tree. Since the time of Socrates, people have been debating how to teach creatively about things applicable to the real world. 'If everybody were given the freedom to do what they are good at, be it music, electronics or sport, and are rewarded for it, then creativity will come,' he said. Despite this being Dr Ng's maiden foray into entrepreneurship, iCo-op.net was one of the 20 start-ups to receive aid from the Economic Development Board's Start-up Enterprise Development Scheme. With his two technical partners, Software AG and Computer Associates, he set up a six-man team and launched his product last year. According to Dr Ng, his entrepreneurial itch was the by-product of a 20-year old 'urge to make a difference'. 'Starting the company was not the goal. But it so happened that to develop a useful and novel tool for businesses that will make a difference to the world, I had to start a company, instead of getting absorbed into the system of some MNCs,' he explains. Out of an impressive range of technologies that he has worked in, from electronics, telecommunications, robotics to automated warehousing systems, CRM does not appear to be an immediate choice. He attributes it 'to a flash of inspiration'. 'CRM has always been there, it was just that people were unable to put their finger on it. Things are always obvious after you describe them.' A quick check on the Internet shows that CRM companies abound. A trend which started two years ago, CRM companies sprang up and promised to retain and expand their clients' customer base through various programmes, services and softwares. According to Dr Ng, the key industry trends in CRM are that new technologies are being developed for call centre services, sales force automation software and data collection of customers. But iCo-op.net belongs to none of these. 'We are creating a new trend in the area of building customer loyalty,' he says. According to Dr Ng, iCo-op.net develops and integrates customer loyalty programmes into their clients' business strategy. The loyalty programme is then used as a tool to gather information, such as the sensitivity of customers' response to incentives, and to develop a viable business model for the client. He gives an example of how their patented software is intended to 'tap into the company's sales dynamics'. 'Imagine that you walk into a supermarket and see a brand of coffee offering a 10 per cent discount, but you can actually get a 20 per cent discount. There is some sort of barometer to show how far sales are from the 20 per cent discount. So you share with the market what is akan datang (coming soon). It makes buying a lot more exciting.' 'We are not forcing the customer to buy more, just showing that the company is honest and sincere.' The method has been bought by a supermarket retailer and a consumer credit company. Dr Ng's company plans to provide services to industries such as airlines, entertainment and petrol companies. Dr Ng has set his sights on the global market, especially North Asia and the US. His company is taking part in CAWorld, a major computer trade fair in Florida this month where Dr Ng hopes to capture some of the Fortune 500 companies. Sharing his vision, he said: 'It may be attending trade fairs or splashing your name in the newspapers, but I've always envisioned moving my business to the global stage.' |
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iCo-op awarded SEEDS funding by EDB (Economic Development Board) The Economic Development Board (EDB) of Singapore has awarded SEEDS funding to iCo-op in a presentation ceremony held at the Carlton Hotel on the 15 Feb 2002. Through SEEDS Capital Pte Ltd, the EDB shall take equity stake in iCo-op.net Pte Ltd. The Startup Enterprise Development Scheme (SEEDS) is a S$50 million fund set up by EDB to provide equity financing for startup in the seed stage of enterprise formation. One of the criteria for selection is that the startup should be engaged in the development of new or better products, processes and applications in the manufacturing and services sectors. Innovation can be in the form of technology and/or business models. The two patents filed by iCo-op on its breakthrough CRM/Loyalty Solution were key considerations in EDB's selection criteria. iCo-op is proud to be a recipient of SEEDS and hopes to leverage on the extensive network of EDB's Enterprise Ecosystem to accelerate its growth. |
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iCo-op and SOFTWARE AG SIGN iLIUP AGREEMENT iCo-op and Software AG sign the iLIUP (infocomm Local Industry Upgrading Programme) Agreement which is supported by the iDA (Infocomm Development Authority of Singapore). The iLIUP programme facilitates and promotes mutually beneficial partnerships between Singapore’s infocomm local enterprises and multinational infocomm corporations. Software AG is Europe’s largest supplier of enterprise systems software and a world leader in the field. It is one of the first companies to recognize the importance of XML as the Internet language. Software AG was founded in 1969. Currently, the company has more than 3,500 employees and, with 30 subsidiaries and 90 representatives in over 70 countries, it is a major global player in XML and e-business technologies. |
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OpenTide Asia and iCo-op.net announce CRM loyalty program OpenTide Asia Pte Ltd, an eSamsung company, and iCo-op.net
Pte Ltd, a Customer Relationship Management solution provider,
have announced their partnership in the CRM Loyalty program in Singapore. Dr Ng Kok Loon, Managing Director of iCo-op.net, said, “The challenge is for companies to seek new ways to differentiate their loyalty program for competitive advantage. This CRM Loyalty solution is the enabler that enhances customer satisfaction.” This Singapore-based company was founded by Dr Ng and Mr Teh Yew Shyan in January 2000. The vision of iCo-op.net is to become a world-class Customer Relationship Management company by continually creating useful and innovative CRM products and solutions for the global market. Mr Subrato Basu, Chief Executive Officer of OpenTide Asia, said, “We are committed to helping companies harness the power of our CRM loyalty program which can be integrated into any business plans to increase sales and profit. We believe that this marketing tool will help people and companies derive new business values and is the next step in enhancing customer satisfaction.” The CRM Loyalty solution is a powerful marketing tool that can be integrated into the business sales plan to drive sales and profit. It harnesses the multiplier power of demand aggregation to increase sales to drive up profits. Actual sales of the company are charted against sales and profit target and loyalty rewards are then adjusted dynamically according to actual sales performance. With the CRM Loyalty solution, companies will deliver not only instant gratification but also continuous gratification to customers. Customers will experience continuous gratification and be loyal. The pulse of the loyalty rewards can be delivered through different channels like the Internet, wireless PDA, WAP, SMS, call centers public display screens, advertisements, printed receipts, mailers and so on. Loyalty rewards are now no longer static but dynamic and exciting. Customers stay engaged continually. The key features of the CRM Loyalty solution are:
This marketing tool is targeted at several industries:
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