As the COVID-19 pandemic that swept the world in 2020 comes to an end, the food and beverage retail industry is seeking ways to adapt in response to its profound impact. In addition to the necessity to survive, the industry also must explore fresh business opportunities and enhance its competitiveness. Leveraging its extensive experience in retail equipment and technology, DataVan (3521.TWO) provides a comprehensive range of products and services to empower clients to strengthen their competitive edge and successfully navigate through transformation.
Improving Governance and Encouraging Innovation for Sustainable Success
As the post-pandemic era commences, Roland Chang, General Manager of DataVan, remains cautiously confident despite the market challenges predicted for the year. In addition to introducing a series of new and innovative products at EuroShop, the world’s leading retail trade fair, DataVan will fortify its internal and external operational efficiency to foster mutually beneficial relationships with its clients.
Chang elaborated that DataVan will prioritize three key areas in terms of internal corporate governance and operations this year. Firstly, the company will enhance its corporate governance by ensuring that management operates the company in the best interests of shareholders, while employees comply with the company's rules and standards of discipline. The objective is to establish a robust and effective corporate governance system that is compliant with legal requirements.
Secondly, DataVan will strive to enhance its business execution. By promoting a "performance-oriented" culture, the company will establish clear and quantifiable business execution goals and KPIs for all employees, from individuals to entire departments. Additionally, the company will require its back office to provide full support to the sales department in achieving annual performance goals.
Thirdly, DataVan will encourage employees to be more creative. Chang highlighted that the spirit of innovation has been an integral part of DataVan's DNA since its establishment in 1986. As such, all employees across departments, including R&D, sales, production, and back office, must be more innovative in their respective roles to drive the company's growth and development.
Creating Operational Strategy through Product Innovation, Software and Hardware Integration, and Market Activation
Chang has identified three key areas for the company's external operational strategy: product innovation, software and hardware integration, and market activation. In the area of product innovation, DataVan is adapting to new business models and changing demand in the food and beverage industry following the pandemic. To address the needs of delivery stores with limited space, DataVan has developed a new multifunctional POS terminal that is highly flexible and cost-effective. This new solution will be launched in the second quarter of this year and unveiled at upcoming COMPUTEX.
In addition to product innovation, DataVan is placing significant emphasis on software and hardware integration this year. Chang has highlighted DataVan's extensive experience in hardware manufacturing and sales, which will serve as a foundation for introducing new technologies such as AI and IoT, and enhancing the integration of software and hardware. The aim is to develop comprehensive service solutions that enable stores to implement smart operations and management scenarios, while utilizing new retail automation equipment to expand into new consumer markets. These innovative technologies have the potential to address the current labor shortage while also fostering new business models.
DataVan's third priority is to solidify its position in established markets while also entering new ones. With COVID-19 restrictions easing, DataVan plans to reconnect with its European partners to extend its reach to more local clients, strengthen the DataVan brand reputation in the European market, and introduce platform-upgraded POS terminals and new products. Additionally, DataVan aims to expand into markets where it has been less active in the past, such as Japan, Southeast Asia, the Greater China region, and other regions. This year, the company will actively evaluate the entire East Asian market, expand local client contacts, and increase product visibility through marketing campaigns, all in an effort to secure additional business opportunities.
Chang confirmed that the above-mentioned strategies are already in motion. At the recent EuroShop, DataVan unveiled several new high-performance POS terminal models with platform upgrades. These terminals are integrated with DataVan Central, an IoT device management platform that meets the demand for remote management of multiple POS terminals. DataVan also showcased innovative software and hardware integrated solutions, including MenuSync, which uses AI image recognition for menu recognition, and a smart beer dispenser that can pour beer automatically while maintaining a consistent foam level in every glass. These products gained significant attention from buyers at EuroShop.
Smart Deployment and Internal Transformation
Chang also indicated the significance of smart technologies in DataVan's progress, as evidenced by this year's strategy deployment and marketing efforts. The food and beverage retail industry, being a rapidly evolving sector, necessitates flexible solutions that can adapt to market shifts, decrease operating costs, and enhance operational management efficiency. With the software and hardware integration advantage, DataVan strives to provide smart retail solutions that align with these requirements. Additionally, the company intends to boost client brand loyalty by ensuring a superior user experience.
DataVan is not only focused on smart deployment, but also actively pursuing transformation. According to Chang, this transformation will involve the entire company, from employees to R&D, products, and operations. This includes strengthening departmental professionalism, promoting employee expertise, and improving innovation abilities. DataVan is also expanding its product planning by turning creativity into profitability, emphasizing the importance of "commodification," and seeking key opportunities through cross-departmental collaboration to maximize the value of its innovations. Additionally, the company is allocating more R&D resources to software and hardware integration and providing more comprehensive solutions through a "one-stop shopping" service model to further improve the quality of its services.
Creating Win-Win Situations with Clients
In summary, Chang emphasized that DataVan values its strong relationships with clients, and will continue to prioritize honesty and fairness in building solid partnerships based on mutual trust. The company is committed to creating value for its clients through respectful and empathetic interactions, while increasing its own “serviceability” value to become a long-term partner of choice. DataVan is dedicated to working collaboratively with its clients to achieve mutual success and create a virtuous cycle of growth.