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Naspers feeds into Latin America’s tech funding

Movile will get $400m funding from the SA-based technology investment giant for iFood expansion.

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Movile is to receive US$500-million in funding for iFood in the largest tech funding in Latin America to date. Naspers and Innova Capital have committed to invest $400m of new capital into Movile to use for further investment in iFood, the leading online food delivery platform in Latin America, of which Movile is a majority shareholder.  

Movile and Just Eat have already invested $100m in iFood during 2018. iFood’s extraordinary growth and the vast market opportunity in Brazil and more broadly in Latin America has driven the increased investment commitment. 

iFood’s monthly orders in Brazil have fed more than 9 million customers in the past twelve months, 16 times the nearest online competitor, in terms of daily active users. This means its partner restaurants are serving the biggest population of consumers ordering food in Latin America. iFood has 50 000 restaurant partners and uses 120 000 couriers. 

The increased investment commitment from Naspers, Innova and Movile is expected to accelerate growth, speed up product development and innovation, and fuel geographical expansion for iFood across the region. The company’s vision is to gain deeper knowledge of consumers through artificial intelligence technology, to personalise the food delivery experience – and at a reduced price, because of improved logistics. 

“Movile is very fortunate to have long-term investors who have supported us for the past decade to help achieve our goal of transforming the lives of more than one billion people and thus we are able to continually back iFood to ensure it remains the market leader,” said Fabricio Bloisi, Movile CEO. 

“Our entire ecosystem of companies is focused on allocating resources and energy towards our one billion people goal. iFood is leading the way, fueling unprecedented growth through its innovative technology platform, providing consumers, couriers and restaurants with the best experience in food ordering and delivery.”  

Larry Illg, CEO of Naspers Ventures, said: “iFood has established itself as a technology leader in Latin America and its success stacks up with some of the most innovative food companies that are leading regions in North America, Europe and Asia.  We have been impressed by their execution in Brazil and remain committed to backing the company on its path to transform the entire food chain to better serve consumers.” 

Online food delivery is experiencing massive expansion globally. According to latest reported results, Grubhub grew daily average orders 39% year-on-year, reaching over 416 000 orders per day. In Latin America, iFood has reached 390 000 orders per day just in Brazil in the last week of October, compared with 183 000 in October 2017, representing 109% growth.

iFood CEO Carlos Moyses said: “We want our consumers to have an amazing delivery experience from the moment they order their food to the moment it arrives. Our partners – the restaurants and delivery fleet – make that happen by living our purpose of improving people’s lives using our services.

“iFood exists for our customers and, with an increased investment commitment of this size, we will be able to build out our state of the art technology platform, and increase our courier and restaurant partners to even better serve our current and future customers in Latin America.”

Cars

“Hello BMW” – Now we’re talking

BMW brings impressive safety features and a built-in voice assistant to its 4th generation X5, writes BRYAN TURNER.

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Marking 20 years since its release, the BMW X5 has been given a substantial redesign for its fourth generation. A major revamp of aesthetics and functionality affirms this luxury Sports Activity Vehicle’s (SAV) position in the market.

New safety features not only make it safer but also more comfortable to drive. The redesigned headlights utilise laser lighting, which eliminates glare on reflective objects like signboards in dark driving conditions. The laser lighting technology also extends the distance of bright lighting to about 500 meters, 200 meters further than the previous generation.

The Driving Assist Professional package, an option for the SAV, comprises a steering and lane control assistant as well as a lane keeping assistant. These assistants work closely with a smart collision evasion system, which helps avoid collisions with vehicles or pedestrians suddenly appearing in the driver’s path. As soon as an evasive manoeuvre is detected, the system assists the driver with steering inputs to direct the vehicle into a clear, adjacent lane.

BMW Operating System 7.0, the latest version of the car’s software, focuses on customisability. This means that more aspects of the vehicle can be set up in a way that is most comfortable for the driver. For example, the 12.3” infotainment panel features a home screen which uses a three-tile layout, where one can have one large tile and two smaller tiles. These tiles can be swapped around and configured to the point where drivers no longer have to search through menus to get what they would need, as their favourites sit on a customised home screen.

The X5 gets a voice assistant with the BMW Assistant Professional. “Hello BMW” will wake the onboard voice assistant for voice commands. These voice commands could be anything from “Play rock music” to “Is my tyre pressure okay?”. Renaming the voice assistant’s wake prompt is also possible if the driver has named their car something other than BMW.

Keeping in line with the latest technology, the X5 features options for a wireless charging tray in the front and two additional USB Type-C ports. Other features include an adaptive navigation system, a hard-drive-based multimedia system with 20 GB of memory, Bluetooth and WiFi connectivity.

BMW’s attention to minor details goes a long way with massage seats and thermo-cupholders. Electrically adjustable and heated sports seats are fitted standard. Additional options include seat massage functionality and ventilated seats. The thermo-cupholder option allows a driver to keep a beverage heated or cooled during a drive.

Unlocking the X5 with a smartphone will soon be a reality with a planned update to the BMW Connected Drive app, in the second quarter of 2019. BMW Digital Key brings functionality to lock and unlock the car with a smartphone’s NFC chip, which eliminates the need for a traditional car key. The driver will simply hold the smartphone to the door’s handle and the car will unlock. Once the driver is inside, the smartphone can be placed on the built-in wireless charging tray, and the NFC chip will register again to verify the driver. From there, the engine can be started.

Overall, exciting technology features come with the new X5 and even more impressive features will come with software updates in 2019.

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ERP needs asset management

A single, integrated EAM and ERP solution can power an asset-intensive business into the future, says MOHAMED CASSOOJEE, MD and Country Manager, IFS South Africa and Africa.

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Most Enterprise Resource Planning software originated in the manufacturing sector as materials resource planning (MRP) solutions for organisations that needed to manage a lot of inventory. From there, they were rapidly developed into solutions for every industry imaginable.

But these roots mean that most standalone ERP software isn’t quite enough on its own to address the needs of organisations in asset-intensive industries such as metal foundries, mining, oil and gas, pulp and paper, energy and utilities, and construction and engineering.

Companies in these sectors are not managing inventory as much as they are managing the capacity of a fixed asset over its lifecycle as well as handling large-scale infrastructure projects with long planning cycles. This is where enterprise asset management (EAM) comes into play, offering capabilities that are not found in typical ERP systems.

EAM systems are built to help organisations manage assets such as plants, heavy machinery, pipelines and industrial-class vehicles. These solutions enable organisations to track the location and status of assets and asset objects in real time, schedule work orders to maintain and fix the assets, and manage the storage of spare parts required to service them.

As Africa’s governments, state-owned enterprises and private sector step up infrastructure investment, EAM has a vital role to play in ensuring that organisations drive the highest possible value from their new assets, whether these are telecoms networks, railway systems, ports or power plants.

According to the World Bank, Africa needs to spend around $93 billion a year over the next decade to address its infrastructure backlogs — about one-third of that cost is for maintenance. In 2008, World Bank found that about 30% of the infrastructure assets of a typical African country needed rehabilitation.

These numbers point to the urgent need for organisations across the continent to take a more proactive and preventative outlook towards maintenance of their key infrastructure and assets. Implementation of EAM can enable organisations to better track, manage and maintain assets to prolong their lifespan and enhance return on investment.

From asset planning to construction to operation to decommissioning and replacement, EAM allows organisations to maintain, manage and optimise assets over the entire asset lifecycle. By helping companies to increase asset productivity and availability – while reducing total cost of ownership – EAM can have a direct impact on profitability and financial sustainability.

Good EAM solutions can also be paired with corporate performance management and analytics tools to let organisations analyse operation disruptions and determine and address the causes, such as maintenance issues, inadequate training, or design faults.

Technological advances, along with the associated price drop for smart products being developed for the Internet of Things (IoT), now make it possible to monitor almost any asset in real-time from nearly any location across the globe. This further boosts the power and usefulness of an EAM solution. It is imperative that the EAM solutions that are implemented are built on robust, newer technologies that can easily support IOT, AI and smart bots.

EAM and ERP: a critical partnership

To sum up, ERP manages business operations, while the EAM system manages all the monitoring and operations of the asset. That means for most companies it isn’t an either-or choice because they need both EAM and ERP to drive optimal business performance.

Some organisations opt for so-called ‘best of breed’ EAM and ERP solutions from different providers. Yet integration can be a headache. The challenges include master data synchronisation and transaction integration. The company may also need to consider whether the ERP or EAM system is the better fit for a particular transaction or asset type.

However, for most organisations in asset-intensive industries, the ideal solution is an ERP system with extensive EAM capabilities: a system built from the ground up to manage not only basic business functions but also assets and their maintenance. Such a solution provides one complete solution spanning key processes and data.

This approach enables the organisation to truly manage and maximise value over asset lifecycles. It also empowers the enterprise to organise operations around the assets and individual asset objects it uses to create value for stakeholders, customers and the community.

For most asset-intensive companies, delivering EAM capabilities as part and parcel of an integrated ERP solution, simplifies their business systems landscape, giving them a single source of truth. The same arguments apply to project management and workforce management systems.

Organisations seeking to transform their business by standardising processes and leveraging reliable, real-time data will benefit from an ERP system with all of these capabilities, setting them up to adopt IoT, artificial intelligence, or whatever other new technologies are coming up next.

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