As a result of the disruption, newspapers, publications, magazines, TV programs are also affected by social media and streaming platforms those allow consumers to access information, news, andentertainment contents more quickly, anytime, and anywhere with minimal or no cost. The consumers can choose what information they would like to consume at their fingertips. For those who couldn’t serve the ever-changing needs of the consumers where the needs are now more specific, and immediate, they might lose part of their businesses to their peers or the new emerging contenders.
Nowadays, consumers could buy what they want on mobile phone anytime and anywhere. Modern trades, department stores, and convenience stores must adapt themselves from the impact of e-Commerce which have adverse effect on revenues as it allows consumers to buy products at lower prices, more conveniently, and received products within 24 hours after placing order.
Financial institutions and banks, which used to collect payment fees, are affected by new Financial Technology (FinTech) companies those have developed e-Payment service that allow consumers to make online transactions at any time without fees. Hence, financial institutions and banks are transforming themselves to be more of technology companies.
Securities companies, which provide securities brokerage services to investors in the stock market, are affected by technology such as robot trade (RoboTrade). This service allows investors to automatically submit orders to buy and sell shares faster and more accurate, which adversely affects the incomes of securities companies. Revenue for this transaction has been going toward near-zero fee as top global firms are shifting themselves away from fee-based business. Moreover, there are competitors who offer integrated intelligent platform, which allows investors to make various transactions on the same platform such as RoboTrade, trading platform, functions to purchase IPO shares, funds, risk assessment system, e-KYC (Know Your Customer) system, e-CDD (Customer Due Diligence) system, e-Payment, and adoption of Artificial Intelligence (AI) system to analyze information and business fundamentals, economic situation of the world in matter of seconds. In addition, this platform utilizes AI system that can analyze behavior and moods of investors and the markets, as well as contain researches of securities companies which analyze stocks based on seconds-by-seconds basis, submit specific information about these stock analysis to investors quickly, anytime, anywhere without or with very small fees. AI could also analyze maximum credit/exposure limit for investors to reduce risk and create satisfaction for investors who use the same platform for multiple transaction simultaneously.
This technology adoption has given the competitive edge to those who have already shifted their strategy and integrated new technologies to their services. Those who have already disrupted themselves first have higher tendency to thrive in this ever-changing world.
The above cases are examples of technology disruption which has severe impact on the business due to inability to adapt to this changes, causing loss and lower profits and serious impact to business operations, including the workforce and business processes.
Netbay Public Company Limited realizes the above changes. With more than fifteen years of experience and knowledge accumulated over the years, NETbay commits to create, develop, and integrate various digital services on our Digital Business Platform to serve our customers. In addition, NETbay also work with wide-range of technology and business partners in order to deliver more services to our customers. NETbay has a dedicated research and development team to create new technological innovations continuously and monitor technological trends that are emerging globally. Lastly, NETbay has gained trust and confidence from both the private sector and government agencies to turn various business processes into digital business processes, digitally transforming the ecosystem.
At this time, the Company’s R&D team is emphasizing on advanced research on technological innovations such as Big Data analytics, utilization of artificial intelligence (AI) in real business applications, blockchain technology, Internet of Things (IOT), and other emerging technologies. NETbay realizes that technology disruption will become more intense due to improved efficiency of internet communication, 5G system, mobile phone, commoditization of cloud computing, and quantum computing. The company has vision and mission to commit to developing new technological innovations under clear directions and objectives to drive the economy and business of Thailand so that we do not have to bear high investment cost in purchasing or relying on overseas innovation technology alone as well as allow the government and private sectors to be able to compete using innovations that are developed by Thai operators. Hence, NETbay commits to enable and empower everyone to do business better, faster, and cheaper and in accordance with Thailand 4.0 policy to help prepare every sector to prepare for rapid changes and digitally transform their organizations in order to survive and thrive with stability and sustainability.
Prof. Dr. Pairash Thajchayapong
Chairman of the Board
Mr. Pichit Viwatrujirapong
Vice Chairman/ Chief Executive Officer