Showcase Highlights GS1 HK's 1QR, Digital Trade Financing and Smart Operations Solution
HONG KONG, June 28, 2022 /PRNewswire/ -- Aimed to facilitate businesses' digital transformation and drive growth, the inaugural GS1 Hong Kong Solution Day was held today in HKPC Building that promotes adoption of a wide spectrum of digital and enterprise data services and solutions. Mr. Victor Lam, Government Chief Information Officer, graced the occasion as Guest of Honour and delivered an opening speech, with more than 400 cross-industries delegates attending throughout the half-day event. GS1 Hong Kong (GS1 HK) showcased a series of pioneering solutions, including 1QR, digital trade financing and Smart Operations solution.
Dr Toa Charm, Chairman, IoT Industry Advisory Council; Mr Louis Mah, Director, Group Information Technology, HK Maxim's Group; Ms Anna Lin, Chief Executive, GS1 HK; Mr Victor Lam, Government Chief Information Officer, HKSAR Gov't Dr Kelvin Leung, Chairman, GS1 HK Board; Mr Nelson Chow, Chief Fintech Officer, Fintech Facilitation Office, HKMA; Mr Alex Cheung, Managing Director Head of Institutional Banking Gp, DBS Bank; Ms Sandy Tan, Executive Director, Ecosystems Head, Institutional Banking Gp, DBS
Themed "A Journey to Digital Transformation", the Solution Day features 5 thematic zones covering Digital Product Journey, Omni-channel Commerce, Smart Retail, Smart Operations and Digital Trade with 16 technology partners, presenting 24 different kinds of technologies and solutions. It is expected to inspire businesses to harness the power of technology to accelerate digital and innovations adoption, equipping themselves for the new economic development.
In his opening speech, Mr. Victor Lam noted, "The COVID-19 pandemic not only brought unprecedented challenges but also completely changed the operating model of the retail industry in Hong Kong. In order to stay competitive, local enterprises should accelerate their digital transformation, develop new business models and create seamless online and offline shopping experiences for their customers. The Government has been supporting the industry with various policies and facilitating enterprises to use ICT services and solutions to improve their productivity and upgrade the business procedures."
One of the signature solutions on Solution Day is GS1 HK's 1QR. Built on GS1's Digital Link standard, 1QR allows businesses to offer consumers extensive information with just 1 QR code, including product information, nutrition information, incentives, certification, etc. When combined with GS1 HK's track-and-trace and authentication capabilities, merchants can uplift product credibility, authenticity and safety, as well as connecting online and offline business opportunities.
To address the pain points in SMEs' financing, GS1 HK partnered with different banks to capitalise on the SMEs' trade data on GS1 Hong Kong's ezTRADE e-commerce platform for streamlined financing application process. The solution not only frees SMEs from massive amounts of document submission, but also allows financial institutions to accelerate the credit assessment and approval process, improving cash-flow for SMEs and steering digital trade financing development.
Data is the new oil today. Another focus on the Solution Day, called Smart Operations, unleash the potential of data to realize operational excellence. The solution relies on IoT-connected devices using RFID sensors to capture operational data, and technologies like automatic video analytics and AI to monitor and analyse, proactively detect issues and make corrective actions. It helps companies optimise resources use, boost efficiency, reduce wastage and achieve greater business resilience.
In addition to 2 industry insights sharing sessions, the award presentation ceremony of the 11th edition of "Consumer Caring Scheme" also took place on the same (Please visit "Consumer Caring Scheme 2021 Result Announcement" for details)
Ms. Anna Lin, Chief Executive of GS1 HK, congratulated all the recognised "Caring Companies" and thanked the guests and industry practitioners for their presence. "It is my great pleasure to see the tremendous support from our partners and participation of the attendees. I hope the delegates are inspired and endeavour to further their digital and smart applications, so that we can co-create cross-industry synergy and foster a business ecosystem driving commerce connectivity and innovations, taking the digital economy development to the next level."
About GS1 Hong Kong
Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong (GS1 HK) is the local chapter of GS1®, which supports companies' digitalisation to enhance supply chain transparency and efficiency, ensure product authenticity, and facilitate online and offline commerce with global supply chain standards (product identification key and barcode) and a full spectrum of standard-based platforms, solutions and services.
Currently, GS1 HK has around 8,000 corporate members covering close to 20 industries including retail consumer goods, food and food services, healthcare, apparel, logistics as well as information and technology. By engaging with communities of trading partners, industry organisations, government, and technology providers, GS1 HK is fostering a collaborative ecosystem with the vision of "Smarter Business, Better Life".
Headquartered in Brussels, Belgium, GS1® is a not-for-profit, standards organisation that has 115 national chapters serving 150 economies globally. For more information, please visit www.gs1hk.org.
Source: GS1 Hong Kong