The Managing Director/CEO, CWG Plc, Mr Adewale Adeyipo, says there is increasing demand for technology-driven business processes on the continent.
Addressing journalists during a media chat in Lagos, he said the role of technology in business optimisation had been recognised by many traditional organisations.
The use of technology, according to him, is creating new streams of revenue for business organisations.
“There is a high-level of optimisation with most organisations. Information Technology is the major driver. We see businesses getting into real-time business process optimisation using technology. We see traditional businesses getting away from their core and looking for new platforms to create new revenue streams. The best way to do that is also through IT,” CWG boss said
In particular, he noted that some state governments had keyed into the use of technology for revenue collection.
Adeyipo added, “We have contracts with about three state governments today on the Internally Generated Revenue platform. We find out how to increase the IGR of a state using technology. We provide the platform and they provide the enforcement and laws in order for this to happen.
“We have actively deployed the platform in two states and the revenue achieved in the first quarter of this year is something to be excited about and we are making the necessary investment in the next two quarters to ensure that this will be a major pillar and revenue contribution to the group.”
Sharing insights on the future plans of the company, Adeyipo said the company planned to extend its operations into new territories and deploy solutions to organisation that would not before now embrace IT.
According to him, the emergence of the tier three and four financial institutions has created a lot of opportunities.
He added that the rising incidence of electronic payment fraud had created an opportunity for tech companies to designs solutions, stating that CWG had created alliances with other companies to address these challenges.
“We all know the high rate of electronic fraud in the banking sector today such as the SIM swap and man in the middle attack, among others. These are some of the major things we are concentrating on and creating the necessary partnership to be able to go to the market and proffer solutions to some of these challenges,” he said.