Investing in digital transformation technology creates new business models and a corona alarm

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Al-Wafd Newspaper: Engineer Mustafa Al-Nahhas, CEO of the technology sector at the Furry Electronic Payments Company, said that the application of digital transformation in all areas of work is no longer a choice, and emerging companies specifically, if they do not rely on digitization in their business from the beginning, there is no point in what they offer.

During his participation in the “Narrative Summit-Reshaping Norms” launched by the “Voice of Egypt” summit through its platforms on social media, Al-Nahhas added that the concept of digital transformation is more extensive than being the disposal of paper dealings at work and must be seen from Through three basic factors, the first of which is the application of digital technology in the business sectors in order to achieve a real impact in management, and that the team within the organization can do their work effectively and easily, and the third factor is that customers feel this effect through the different services they receive; If these factors are realized, we can say that we succeeded in digital transformation.


He noted that it is not enough to take the first steps of digital transformation but it is important to deal with the waves of new technology and change it to business models and their management; So there has to be a constant update of technology, explaining that many companies

The journey of digital transformation began, but few of them were able to achieve tangible results. In light of the difficulties of daily work, especially piracy and information leakage, everyone suffers from a state of exhaustion that prevents them from developing innovative ideas to change the business model, but all indications confirm that investing in digital transformation technologies will have The credit for creating a new and influential business model. Therefore, IDC’s latest statistics estimated corporate investment in the digital transformation to $ 1.97 trillion by 2022.
He emphasized that the huge events may be a reason for changing the traditional business models, which happened during the crisis of the spread of the Corona virus, because the shock that hit the world from the rapid effects of the virus, made everyone within days turn to work from home, and began to rely completely on e-learning and even home requests became Through digital applications what increases the dependence on digital payment methods, so we can describe the epidemic as a bell

A warning to all, and a catalyst for companies to move quickly towards digital transformation so that it can cope with the movement of markets.

He drew attention to the Central Bank of Egypt taking many decisions during the crisis to facilitate the procedures of digital transformation applications, including registration in the “Mobile Wallet” and allowing individuals to download the application and registration on it without the need to go to the bank branch or payment institutions such as Four Plus, and reduce the requirements and procedures in the registration process, as possible. The average user can benefit from the digital payment applications and digital banking services provided by the bank within the specified amounts until the conditions are fulfilled and all services are used.

He added that Fawry had the lead in providing the electronic payment model in Egypt, and people started dealing with financial technology services more, and it also helps its partners, from banks or medium-sized enterprises or institutions, in the processes of digital transformation with what they provide of services that represent value Added to their business, such as collecting bills “for clients.

He indicated that it is possible to sell digitally through a special form that accepts an electronic payment card or “Mobile Wallet and immediate and immediate e-commerce, and to provide payments to suppliers through electronic payment, as well as electronic loans via the Internet to obtain a loan quickly online, as most banks In Egypt, I got “Mobile Wallet” solutions from Fury to spend and collect money from customers so that you can provide their services without having to go themselves to the bank.

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