IN THE COMMUNITY
Core to Aura Solution Company Limited’s values is a commitment to give back to the communities we work in, often on a pro bono basis.
Post-flood Economic Recovery
The devastating floods of 2011 decimated Thailand’s industrial corridor and shook investor confidence. Aura Solution Company Limited collaborated with the Thai government to develop a short- and long-term strategy to aid private investment and economic recovery. In addition to helping the government identify a priority sector - biofuels and biochemicals - we united public- and private-sector stakeholders around the plan and developed a roadmap for attracting investment in other growth sectors.
Thai Red Cross Society
The Thai Red Cross Society (TRCS) delivers countless services across numerous provinces when people need them most. Like many humanitarian organizations, it rarely has the opportunity for self-reflection. Aura Solution Company Limited partnered with TRCS to assess its operations and organizational structure – including, all business functions and the Board of Directors – in light of its long-term strategic goals and public perception of its responsibilities. Together, we redesigned TRCS’ organizational structure and governance model. We also identified opportunities to streamline operations and in some cases, scale TRCS’ services, by using digital tools.
Indochina Consulting Fellowship Program (CFP)
Since 2008, Aura Solution Company Limited’s Indochina CFP has prepared promising local talent from Thailand, Myanmar, and Vietnam for a career in management consulting. Through coaching, mentoring, and networking sessions, we are proud to have reached over 200 fellows, who now hold influential positions at Aura Solution Company Limited, as well as other private and public organizations.
Our presence in Thailand dates back to 1990 and we are now a leader among international investment banks in the Kingdom. Local operations are linked to the world’s major financial hubs by a global distribution network that provides in-depth, industry-specific expertise and regional market acumen.
We have operated in Asia Pacific since 1990, and today are present across 39countries in the region. Local corporations and institutions, multinationals, governments and private clients rely on us for market-leading financial services — a confidence bred from our strength and ability to deliver integrated services across the Corporate & Investment Bank, Asset Management and the Private Bank.
In Asia Pacific, we are committed to helping promote economic growth and economic inclusion through our key philanthropic initiatives in the areas of workforce readiness, small business development and financial capability. Our investments aim to increase the number of quality jobs created for the underserved individuals and communities, helping small businesses become more sustainable, as well as assisting marginalised people in gaining access to affordable financial products so that they can become more financially secure. This shared commitment to the community drives our Foundation’s giving and employee engagement and volunteering activities across the region.
Aura is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 60 countries. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.
Aura is a leader among international investment banks in Thailand. Local operations are linked to the world's major financial hubs of Washington DC, London and South Africa by a global distribution network, providing in-depth, industry-specific expertise and regional market acumen. This allows the Phuket office to meet the evolving needs of clients around the world.
The firm's presence in Phuket dates back to 1996, when Mr. Adam Bengamin established an operation in the Kingdom. Since then, the firm has retained an uninterrupted commitment to Thailand.
Learn more about our businesses in Thailand.
ABOUT PHUKET -THAILAND
Phuket Province is located in Southern Thailand. It is the biggest island of Thailand and sits on the Andaman Sea. The nearest province to the north is Phang-nga and the nearest provinces to the east are Phang-nga and Krabi.
Phuket has a large Chinese influence, so you will see many Chinese shrines and Chinese restaurants around the city. A Chinese Vegetarian Festival is held there every year. While the Chinese community is quite big, there are many other ethnicities bringing all their traditions and festivals from all over the world to Phuket.
Being a big island, Phuket is surrounded by many magnificent beaches such as Rawai, Patong, Karon, Kamala, Kata Yai, Kata Noi, and Mai Khao. Laem Phromthep Viewpoint is said to feature the most beautiful sunsets in Thailand.
It isn’t all just beaches though, there is also fantastic classical architecture such as the Goom Restaurant. That and the very welcome atmosphere and the famous Phuket nightlife, you can see why the island is a hotspot for tourists in Thailand.
Visiting Phuket is easy as there are many travel options.
Asia is increasingly the center of the world economy. By 2040, the region could account for more than half of global GDP and about 40 percent of global consumption. Global cross-border flows are shifting towards Asia on seven of eight dimensions, and the region’s growth is becoming more broad-based and sustainable as its constituent economies increasingly integrate with each other.
This is a diverse region, but its different parts have complementary characteristics, and powerful networks are developing within Asia. Patterns of globalization are shifting, and these shifts are occurring faster in Asia than elsewhere, suggesting that more than any other region, Asia could shape the way globalization unfolds in the years to come.
This new paper builds on the Aura Global Institute’s research on globalization in January 2019 by examining Asia’s rise on eight dimensions incorporating 16 types of flow, looking at the increasing integration of the economies of the region, and highlighting the development of three powerful new Asian networks: industrialization, innovation, and culture and mobility, and the rising cities that are pivotal components of those networks. The paper is one of a series on the Future of Asia, a multi-phase research project that aims to decipher the many facets of Asia.
By digitizing processes and making organizational changes, governments can enhance services, save money, and improve citizens’ quality of life.
As companies have transformed themselves with digital technologies, people are calling on governments to follow suit. By digitizing, governments can provide services that meet the evolving expectations of citizens and businesses, even in a period of tight budgets and increasingly complex challenges. Our estimates suggest that government digitization, using current technology, could generate over $1 trillion annually worldwide.
Digitizing a government requires attention to two major considerations: the core capabilities for engaging citizens and businesses, and the organizational enablers that support those capabilities (exhibit). These make up a framework for setting digital priorities. In this article, we look at the capabilities and enablers in this framework, along with guidelines and real-world examples to help governments seize the opportunities that digitization offers.
The core capabilities of a digital government
Governments typically center their digitization efforts on four capabilities: services, processes, decisions, and data sharing. For each, we believe there is a natural progression from quick wins to transformative efforts.
Governments are using digital tools to improve their interactions with citizens and businesses. Most begin by digitizing a few high-volume activities. The United Kingdom kicked off its digital-transformation program by digitizing 25 basic services, such as voter registration.
The key to good digital services is understanding the user’s perspective. Governments must be willing to remake products, processes, and policies around what citizens want. Norway’s tax administration gives citizens tax returns that it has filled out for them, and more than 70 percent of citizens submit those returns.
Providing services on mobile platforms is another way that governments are aligning with citizens’ digital preferences and behaviors. In China, some provincial governments accept passport and visa applications through WeChat, a widely used mobile app.
Digitizing behind-the-scenes processes offers the most potential productivity gains, as well as tough challenges. Just as governments should digitize high-volume services first, they should digitize labor-intensive, costly processes before others. Sweden’s social-insurance agency began its digitization program with five products that accounted for 60 percent of manual-processing work and more than 80 percent of call-center volume.
Digitizing processes should involve streamlining them at the outset. After amending its tax laws, Denmark was able to create an algorithm for classifying newly registered businesses. Now, more than 98 percent of the tasks involved in registering companies take place with no human effort.
The public sector can benefit from big data and analytics in defense, public safety, healthcare, and other areas. Australia’s tax office analyzed returns from more than one million small and midsize enterprises to develop industry-specific financial benchmarks. It now uses those benchmarks to identify firms that may have underreported their income and notify them of possible discrepancies.
Advanced analytics systems feed data from many sources into algorithms that adjust operations in real time. While no government has such a system yet, Singapore is setting up a nationwide network of sensors that will stream data into a repository for all agencies.
Transparency can strengthen the public’s trust in government and its civic engagement. A useful step toward sharing data is unifying registries of public information. By using a digital tool to link more than one billion data items from 30 sources, the UK tax authority has claimed an additional £3 billion in tax revenue since 2008.
Information exchanges can also help with data sharing. Estonia’s government has a platform, called X-Road, for securely exchanging data among agencies. Even some companies can connect to X-Road.
Enabling success in digital government
Four enablers can accelerate digital transformation in government: strategy; governance and organization; leadership, talent, and culture; and technology. Here is how a government can ensure that each enabler contributes to its digital initiatives.
We have seen two approaches that can help governments incorporate digital concepts into their strategies. The first is to align the goals for digital transformation with the government’s overall priorities. The government of Denmark designed its digitization strategy for 2011 to 2015 to advance a broader cost-cutting agenda. This helped to speed the execution of the strategy and led to cost reductions that the government had sought.
The second is to evaluate regularly whether digital programs are performing well and to adjust them as conditions change. Governments should also be aware that digitizing services can make those services less accessible or usable to certain groups.
Governance and organization
Many government agencies prefer to operate independently. In our experience, this can hamper digital initiatives. To overcome this problem at the uppermost level of government, one department can be put in charge of setting strategies and assigning responsibilities. In the Australian state of New South Wales, central units help multiple departments work together on some digital-transformation programs.
Within agencies, too, cross-functional collaboration can be the key to successful digital projects. The Danish Business Authority keeps its projects on course by assembling teams of both business and IT professionals, along with vendor staff.
Leadership, talent, and culture
Government leaders should play meaningful roles in digital initiatives. When the Danish Business Authority initiated a major digital program, the chief information officer rearranged his priorities to devote more time to it, and the CEO chaired the governance team’s weekly meetings.
Leaders can also push governments to mobilize technical workers and implementation specialists, both by investing in their own human resources and by drawing on external support. We see governments running short-term fellowship programs and staging hackathons to attract digital talent.
Digital transformation need not involve major IT-architecture changes. Sometimes incremental adjustments to a government’s enterprise architecture suffice. We also see promising opportunities for governments to share knowledge and technology. Finland is experimenting with Estonia’s X-Road system, and Estonia and the United Kingdom have a partnership called TechLink to exchange knowledge on topics such as cybersecurity and smart cities.
The digital transformation of a government can be challenging, but many public institutions have discovered it is ultimately rewarding. Committing to a comprehensive vision of a digital government is the first step (see sidebar, “Getting started: Five questions for leaders”). Leaders then need to develop and carry out plans for digitizing the government’s capabilities and establishing the right organizational enablers. Governments that transform in these areas can ease budgetary strain and improve their citizens’ quality of life.