CGI: Driving local solutions with global expertise
Embrace digital transformation and infuse it with a spirit of agility, is the message to the public sector from Aleta Jeffress, CGI Senior Vice President Consulting Services.
“We partner with clients to drive value and innovation,” said Jeffress who has been working with the US City of Mesa, AZ on their digital journey for their local citizens.
Founded in 1976, CGI is one of the largest IT and business consulting services firms in the world. It is insights-driven and outcomes-based to help accelerate return on investments. CGI operates across 21 industries in 400 locations and provides scalable and sustainable services that are informed globally and delivered locally.
“We have expertise in developing and executing strategies to help companies transform their IT to align with the business through cloud strategies, application rationalization, modernization and outsourcing,” said Jeffress speaking from the Denver CGI offices.
“Digital change can be exhausting, but take the opportunity to embrace it and look for new opportunities,” said Jeffress who pointed out projects should have a sense of agility and specific focus on the end-user.
“This can be a big culture change for some clients but by making sure your implementations are not a big bang theory but you can take smaller chunks which you’re able to do over and over again as it's just going to continue to evolve,” she said.
Informed globally and delivered locally
Commenting on CGI’s partnership with the City of Mesa, Jeffress said: “We are providing a solution that has a lower cost of ownership and helps them streamline business processes and helps increase efficiency.
“The City sought a single source of truth for their ERP business processes. With CGI Advantage, they found a partner in their digital transformation journey with a configurable, unified solution that supports their HR, financial management, and performance budgeting business processes.
“With CGI Advantage, the City is working with a single source of truth that lowers total cost of ownership, streamlines business processes, and increases efficiency - additional benefits include:
• A decrease in customizations and staffing requirements resulting in faster upgrade cycles.
• Empowering HR resources to focus on strategic efforts by removing the need for manual and duplicate data entry.
• Increased accuracy with reporting.
• Process improvements shifting from customized or paper-based processes to automated processes.
• Increased pay transparency and accuracy by leveraging process improvements and configurable support
A trusted partner
“CGI is a company that focuses very intently and very intentionally on delivery - that is something that really sets us apart,” said Jeffress.
“We have an internal process where we meet with clients twice a year to ask a specific set of questions. How our clients answer those questions allows us to be sure we are aligned and can be a trusted partner with all of our clients.”
“As an international company, we can provide key resources when our clients need it in a very timely manner,” she said.
Reflecting on the challenges posed by COVID-19 Jeffress said there had been a true evolution in technology services.
Who Will Be the Next Tech Giant to Back Bitcoin?
PayPal was the first truly major tech giant to throw its weight behind Bitcoin, unveiling a cryptocurrency buying-and-selling service in October. Next was Tesla, which shocked onlookers in February by announcing the purchase of $1.5 billion in bitcoin, as well as plans to accept the cryptocurrency as payment.
Since then, things have calmed down as far as Big Tech and Bitcoin are concerned (although a number of banks have rolled out cryptocurrency investment services for their wealthier clients). This raises the question: when will another significant tech firm take the plunge and back bitcoin?
This is a difficult question to answer, if only because the bitcoin market is in something of a funk right now. At the same time, regulators worldwide are looking to restrict crypto in the name of curbing money laundering and other illicit activities. Nonetheless, rumours continue to swirl through the sector that a few other important names in the tech industry may be on the cusp of embracing bitcoin, with Apple being the most notable.
Is Apple Buying Bitcoin?
If you tend to spend any amount of time on Crypto Twitter, you may be aware of rumours to the effect that Apple has recently bought something in the region of $2.5 billion in bitcoin.
Such rumours were almost certainly a desperate attempt to boost the price of bitcoin. And given that the market didn’t witness a sudden, dramatic rise (but rather a steep loss), it seems pretty clear that Apple didn’t buy a substantial quantity of bitcoin in the past few weeks or so.
That said, there remains a good chance that Apple will enter the cryptocurrency sector at some point, even if it won’t be adventurous enough to buy crypto for itself. Back in May, it placed a job ad for a business development manager for “alternative payments.”
Such a manager would be tasked with cultivating partnerships with “strategic alternative payment providers,” implying that Apple may be weighing up the possibility of launching its own cryptocurrency-purchasing service (à la PayPal) via Apple Pay.
Needless to say, it would be huge for Bitcoin and cryptocurrency if the Cupertino company were to follow through with this.
Microsoft, Amazon, Facebook?
Rumours have also revolved around possible bitcoin interest from Microsoft, Amazon and Facebook, although there’s a little less substance to most of these rumours.
Back in October former Goldman Sachs hedge fund manager Raoul Pal predicted that Microsoft (along with Apple) would buy bitcoin in five years. Unfortunately, a CNN interview with Microsoft’s Brad Smith in February (shortly after Tesla’s bitcoin purchase) revealed that the company had no plans to purchase crypto, although Smith vaguely hinted that it might one day change its collective mind.
More interestingly, Amazon purchased three cryptocurrency-related domain names back in 2017: amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. Nothing has been heard since then, while a job listing from February of this year revealed that the retail giant may be planning to launch its very own digital currency.
Facebook is another tech firm with plans for its own digital currency (Diem, formerly known as Libra). As for whether it’s likely to turn to bitcoin, a few relatively respected figures within the cryptocurrency industry (e.g. Alistair Milne) did spread rumours in April that the social media company would disclose bitcoin holdings on its Q1 financial statement. This didn’t happen, although Mark Zuckerberg did reveal in May that one of his pet goats is called “Bitcoin,” fuelling further speculation as to his and his firm’s interest in the cryptocurrency.
Risks and Rewards of Cryptocurrency
Again, it’s arguable that some or most of the rumours are generated largely to pump crypto prices. But if bitcoin and other cryptocurrencies do continue to appreciate in value and attract more adoption, it will become increasingly harder for large tech companies to ignore them.
But at the moment, it’s likely that most major tech firms will shy away from actually buying bitcoin, if only because it remains highly volatile and unpredictable as an asset. And as we saw with Tesla, buying a massive chunk of the cryptocurrency effectively turns you into a hedge fund overnight, something which can adversely affect your stock price if bitcoin goes down.
Even so, there’s clearly a considerable amount of money tied up in the cryptocurrency market. And with numbers of holders growing every year, it’s only a matter of time before other big tech firms attempt to siphon off some of this value for themselves.