Leader in Enterprise Data Management accelerates business transformations with data-driven, measurable outcomes.
A staggering 70% of digital transformation projects fail due to bad data. What exactly is bad data? Bad data refers to data that is inconsistent, inaccurate, or incomplete. It can affect organizations in many ways, ranging from financial losses, reputational damage, regulatory compliance issues, to operational inefficiencies, among others.
Evidently, an organization’s readiness to successfully undertake digital transformation is grounded in their data. It takes the right technology and best practices to maintain the quality and maturity of data so that organizations can make data-driven decisions that achieve tangible, measurable business outcomes.
For this reason, Singapore Business Review (SBR) Technology Excellence Awards is recognizing the work of firms and companies that have launched new technological products, services, and strategies that have made a mark on distinction, innovation, success, influence, and dynamism. This year, it is giving the Information Management - Metals and Mining award to Syniti for their Enterprise Data Management Platform.
Syniti is known for solving the most complex data transformation challenges across industries, such as financial services, pharmaceutical, food and beverage, and retail industries, among others, to drive business outcomes with their data.
Recently, they supported a leading explosives company on their global data transformation journey. Syniti de-duplicated, harmonized, and established standards for 15 years of data from multiple disparate system into a single source of truth. This enabled the organization to have a single, standardized view of over 1,000 employees across more than 50 countries.
This successful implementation also laid the foundation for their client to consolidate their global operations into one cloud-based enterprise system.
Gordon Lam, president for Asia Pacific and Japan at Syniti, said, “Disruptions are taking place across various industries, with businesses racing to achieve digital transformation to remain competitive. As an enabler of digital transformation, it is important for companies to manage their data well. With our technology and best practice methodology, we enable businesses to turbocharge insights from their data and elevate decision-making.”
Syniti’s system agnostic platform and unique data-centric methodology—encompassing data harmonization, migration, and integration — unlocks the knowledge and insights trapped in data, enabling companies to make timely business decisions that result in measurable outcomes. For instance, its data migration services has helped organizations achieve an average of USD$3.45 million in cost savings per organization annually.
In the last year, Syniti has helped numerous customers harness their data to discover areas where they could save costs, streamline processes, and increase working capital, among others. The company achieve unprecedented growth in its software business, which almost tripled in terms of year-on-year growth in Asia Pacific and Japan alone.
“We are honored to be receiving the Technology Excellence Award, which is a testament to the team’s achievements and commitment to our customers. An organization’s success is closely linked to its ability to use data intelligently, and our goal is to help our customers achieve success,” said Lam. “This win also comes at an exciting time for us in Asia Pacific and Japan where we recorded an amazing 250% software growth in 2020. We see this award and our growth as an opportunity to continue innovative the data journey and improve the way we help our customers,” he added.
Syniti solves the world's most complex data challenges by uniquely combining intelligent AI-driven software and vast data expertise to yield certain and superior business outcomes. For over 25 years, Syniti has partnered with the Fortune 2000 to unlock valuable insights that propel growth, reduce risk and increase their competitive edge. Its full end-to-end platform of capabilities span data conversion and data quality, data archival and replication, master data management, analytics, information governance, and data strategy. Syniti is a portfolio company of private equity firm Bridge Growth Partners LLC. Read more at www.Syniti.com.
The Technology Excellence Awards, presented by Singapore Business Review, was held via studio award presentations and video conferencing sessions throughout the second and third week of April.
This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consultant at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.