Digitalisationa vehicle of the new age of transformation

Thought Leadership Series

Disclaimer:

The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. The document has been prepared with the help of various sources believed to be reliable, but no representation or warranty is made to its accuracy, completeness or correctness. Whilst due care has been taken in the preparation of this publication and information contained herein, Mazars takes no ownership of or endorses any findings or personal views expressed herein or accepts any liability whatsoever, for any direct or consequential loss howsoever arising from any use of this publication or its contents or otherwise arising in connection herewith.

Foreword 3

Executive summary 4

Emergence of the new economy and its challenges 6

Information dissemination: challenges in today’s world 8

Analogue to digital data: route to e-commerce 9

Industrial revolution in the new age of digitalisation 11

Industry focus 12

Media & entertainment 12

Retail 14

Publishing 15

Telecommunication 16

Healthcare 17

Digital social isolation 18

Challenges & future outlook of digitalisation 20

Contents

We are living in a dynamic world where speed is of essence and transformation is the key to success. From the flickering monochromatic images that appeared first on the television sets of 1930’s to the 3D Hi Definition images in a modern day ultrathin LED display televisions, the world that we live in has seen changes driven by innovation. The impact of digital technologies is prevalent in every spectrum of our lives and consequently the current era is also termed as the “digital age”.

The process of digitalisation started some five decades back with the advent of computing technologies and digital electronics. Today digitalisation can be seen as a tool of transformation which extends beyond our lifestyle to the way we transact, interact and conduct business. Across all sectors, be this communication, media, healthcare, retail and manufacturing, we are increasingly seeing the use of digital

technology. The landscape of this digital age is increasingly being driven by innovations in e-communications, e-commerce and ever increasing deployment of the internet to create economies based on high technology, massive communication, knowledge creation and innovation. It is important to understand and appreciate the factors that are ushering in such changes and how these are impacting the modern day business.

Mazars has in this whitepaper analysed some pertinent issues which throw light on how digitalisation has become a vehicle of this new age of transformation.

I am confident that you will find this whitepaper useful to your business. We would be happy to discuss any specific area that you would be particularly interested in, in greater detail.

Miguel De-Fontenay

Global Consulting LeaderMazars

FOREWORD

Executive summary

Digitalisation, as we call it today, is sweeping across every aspect of our daily lives in all possible ways. Right from gathering the news we find in the newspapers every morning to the billing process at our neighbourhood grocery shop, it is digital technology that is making tasks faster and more accurate. The economy today is no longer driven by real currency transactions only, but also by concepts of e-commerce and electronic transactions that take place, across the globe, within a matter of seconds.

This digital revolution is now increasingly dependent on the generation and transmission of information, while capitalizing on advancements in computer systems. The ease of information transmission has allowed the growth of a new world economy, which is characterised by rapid global communication and social networking through digital media. In addition, goods & services have become more technology focussed and knowledge centric. The concept of knowledge economies is becoming increasingly pertinent in the present scenario as nations build up special programmes towards the improvement of their knowledge pool.

However, there are challenges in growth of these knowledge pools. Around 28% of the world’s population uses internet or internet based communication platforms to interact with one another and this usage has increased by almost five folds during

the past one decade. However, when analysed with a focus on different regions globally, it is apparent that this growth has not been uniform. There remains a huge disparity in the growth pattern between high and low income regions. This gap is further accentuated due to the vast differences between regions in the context of their ability to access modern digital communication tools.

The increasing use of digital media in business communication and data dissemination has led to a rapid growth of e-commerce and m-commerce across the world. Dependence on internet has led to businesses getting established over the internet and leading to faster trade of wealth and assets, in most cases by using secured internet transaction systems. Business transactions over social networking sites have lead to the coining of a new term called “social shopping”. The opening up of the telecom market and the blossoming of broadband have further paved the way for a flourishing e-commerce sector.

This is not limited to marketing and business transactions alone. Digitalisation has brought a paradigm shift to the traditional ways of manufacturing, handling, storing and transporting things. Computer aided designing and manufacturing processes have revolutionised the manufacturing industry and the deployment of industrial robots (which are digitally controlled) have become the order of the day across industries.

4 | Digitalisation

The scope of digitalization is immense and its role on the transformation of our lives may span across innumerable business sectors. As a part of this thought leadership whitepaper, Mazars has analyzed some key driving factors responsible for the digital transformation in the world that we live in today. This publication also provides some interesting perspectives on certain sensitive and critical issues of this era such as industrial revolution in the digital age, data management and transmission, growth of e-commerce and their role in changing business environment. Certain industries such as Media & Entertainment, Healthcare, Publishing and Retail which have implemented tools and techniques of the digital era have gained maximum benefit. This publication also contains an analysis of some important aspects relating to the extent such tools have been adopted and the advantages as well as flipside of the ever increasing implementation of these technologies in these sectors. In addition, we have provided an assessment of how the ill effects of overindulgence in digital or the virtual world have lead to social isolation, which is more often termed as “digital isolation”. Social interactions become limited under such circumstances and lead to isolating people from the real world. This situation leads to many other social issues which are increasingly being openly debated in various forums on negative effects of digitalisation, especially in a situation where an increasing number of

people are getting involved with social networking sites to communicate and make friends in the virtual world.

It is evident that the digital world is not devoid of challenges posed by antisocial elements and the forces which tend to create disruption in the lives of the people. From internet frauds to electronic virus attacks in the communication networks, the age of digitalisation poses a whole new set of issues for the world to encounter and overcome.

With intrusion of digital technology in every possible arena of innovation, the future seems ever changing with new technologies evolving almost every day. Indeed while technology has greatly improved as time has passed; scientists are continually working in order to develop useful products, which facilitate our lives. Even though some may well argue that technology has lessened the quality of our lives, others have a view that this may have well made our lives easier. Digitalisation has provided to us better knowledge with faster ways of locomotion and communication. After assessing various perspectives, developments and outcomes, what appears to be coming out very clearly is that it is a balanced and effective use of digital tools and techniques that can eventually make our dreams of today, a reality of the future, while making our world a better place to live in.

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Emergence of the new economy

The industrial revolution that swept the world decades ago had set forth a base for an economy which was dependent on manufacturing. However, by the end of the 20th century, the world has seen the rising of a new economy which has transformed from heavy industry to new knowledge driven technologies. The use of knowledge in technologies such as knowledge engineering and knowledge management has led to an age of rapid information dissemination and the process of transformation has been accentuated by digital technologies, developed across the world.

The new information economy which is largely dependent on digital technologies, is linked to the concept of a digital age or digital revolution and carries the ramifications of a shift from traditional industry to an economy based on the generation and transmission of information.

The information era is a phenomenon where the current economy is dependent principally on the ability of individuals to transfer information freely and to have instant access to knowledge that would have previously been difficult or impossible to find without digital technology. This digital economy has been formed by capitalizing on advancements in computer systems, with the transition spanning the introduction of home computer in the 1970s to the 1990s when internet was accessible to the general public and the adoption of

such technologies in the two decades after 1990. The information age has allowed growth of the new world economy and as such has been characterised by rapid global communications and networking to shape the modern society.

Although the new economy, which may also be termed as digital economy and which is marked by e-commerce and m-commerce, has become a widely accepted phrase, it is still not precisely defined. It is currently identified by e-communication and internet based businesses, which combine to form its backbone.

Several important trends collectively contributed to the rise of the new economy. First, today’s goods and services have become technologically sophisticated and knowledge-intensive.

Second, for technological and competitive reasons, knowledge is increasingly becoming a distinctive factor in the new economy. The knowledge-driven economy is not only about new high-tech industries, neither is it confined to a particular technology but it is about those aspects and sources which can potentially create a competitive advantage; and with this the ability to innovate, to create new products and exploit new markets. As knowledge has become the driving force for the economic growth, organisations across the globe are depending on the success of application of human know-how in everything they produce and the ways of producing it.

Products themselves are increasingly characterised by knowledge content. Adding ideas to the products and turning them into new products is becoming crucial to wealth creation. Digitalisation has helped in more than one way and the rapid growth of trade and commerce across the world is being made possible by digital communication and digitally controlled rapid transportation systems.

Thirdly, the new economy is completely consumer centric. Products are increasingly being made to order and information is personalized. A widely held hypothesis is that the individualization is the key to success – particularly as one goes from a large to a small and to a smaller group and finally to the individual level.

One unique way to depict how well countries across the world fare in terms of managing their knowledge economy is through the global Knowledge Economic Index (“KEI”). KEI itself was designed as an interactive means for the benchmarking a country’s position vis-a-vis others in today’s global knowledge economy and was created by the World Bank Institute. This takes into account key variables in four knowledge economy pillars - economic incentive & institutional regime, education & human resources, the innovation system & information and communication technology.

Knowledge is being put to work every day to accelerate and deepen the development

“Knowledge Economies Index takes into account key variables in four knowledge economy pillars - economic incentive & institutional regime, education & human resources, the innovation system & information and communication technology”

6 | Digitalisation

process. When applied to all types of innovation, including the more modest ones in the use of basic technology, it becomes a major resource for wealth generation and job creation. While various types of knowledge, including the most traditional can be of use; at the same time there is a need to invest in advanced technologies to stay competitive. In these times of accelerated globalization, “grey matter” or knowledge is a country’s main durable resource. Its exploitation for economic and social well-being is increasingly at the center of development strategies.

The central role of knowledge and innovation in economic growth is widely acknowledged in advanced countries and the experience of those that have championed this new paradigm has led to the coining of the expression of Knowledge Economies (“KE”). However, this notion is less widely accepted among developing countries, the elaboration of appropriate and efficient policies for knowledge based development processes is particularly challenging in view of the more difficult political and economic environment in some countries.

One of the major challenges in the information era that is backed by the digital technology pose, is building of KE’s. This is primarily intended for the policy-making community of developing countries and deals with advanced development strategies that focus on policies to address intangibles

assets such as education, innovation, information and communication technology. With globalization and the technological revolution of the last few decades, knowledge has become the key driver of competitiveness and is now reshaping the patterns of the world’s economic growth and activity. It is therefore imperative for both developed and developing countries to think, with some urgency, about their future in terms of becoming and sustaining themselves as KE’s. To become successful KE’s, countries have to rethink and act simultaneously on their education base, their innovation systems and their information and communication technology infrastructure, while also building a high-quality economic and institutional regime.

The role of digitalisation in transforming the countries into KE’s and sustaining them over a period of time is vital. The thrust to the pillars of KE’s can only be provided if a country is able to internalise the advancements in the digital world and put them to optimal utilisation in the growth of intellectual and knowledge dissemination. The future global economy, is dependent on smart business processes and tools and is termed as digital economy.

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Information dissemination: challenges in today’s world

The internet is rapidly becoming a mass medium for information and data dissemination. Our research shows that an estimated 1.96 billion people were online globally in 2010 which is about 28% of the global population. The growth of internet users has been staggering at 445% in the past 10 years. Within five years, internet penetration has reached the level that television took more than 15 years to achieve. However this situation, if viewed in pockets is different across the world.

The USA had initialy represented over half of the global internet users, but by the year 2010, internet penetration from Asian countries had increased to 42%, whereas Europe’s share had increased to 24%. At the same time North America’s share has fallen to 13% from a shade under half of the internet users 10 years back. There are disparities within Europe, as some parts of Europe have moved online faster than others. Northern Europe has reached a greater penetration rate than the South with the penetration in Germany and the UK accounting for nearly 50% of European internet users. There is a similar contrast on a vertical platform with Western Europe being higher than the Central and Eastern Europe (“CEE”). Altogether this means that compared to the USA, the growth potential in Europe is extremely high. The situation in the rest of the world, especially Asia has been very inspiring as it now contributes more than 40% of the worldwide internet usage. The ensuing chart gives a snapshot of the internet usage pattern in different regions.

It has been warned that if left purely to market forces, the digital economy could foster a two-tiered society, creating a big gap between those who can communicate with the world and those who cannot. For example, in USA there is a direct relationship between family income and access to computers and internet. Although some observers argue that this is temporary, our research shows that this gap is widening rather than disappearing. Globally, most children today are not growing up digital. Among the billion people born in the last decade, 97% were born in developing countries often lacking food, housing, and education. Interestingly, more than half of the 1.2 billion children in the world, aged six to eleven, have never made a phone call.

However, the real gap comes between the developed and the developing world. There are still people in the latter who do not have access to telephones. With the network becoming the basis for commerce, wealth creation, jobs, learning, health care, as well as social development, these countries will become severely disadvantaged. Being poor involves being information-poor as well.

Even if there is access to internet, in many regions of the world data transmission is slow due to use of obsolete technologies with poor connectivity. However with introduction of broadband services worldwide, the scenario is changing. Network Service Providers (“NSP”) like Level3, UUNet, Sprint, AT&T, Savvis, Qwest, Time Warner and NTT, play important role in connecting the masses through the internet. It was estimated that around 500 million internet subscribers use broadband. As per the latest available data, China Telecom led the pack of 10 largest broadband service providers followed by China Unicom. The two Chinese ISPs account for nearly 20% of the world’s broadband subscribers.

Mobile networks are fast becoming the mode of information dissemination with the introduction of data services both in the 2G and 3G spectrum. 3G spectrum is rolled out in almost every corner of the world now, and statistics show that most of the revenue for the network operators come from data services rather than voice services, which indicates that more and more information sharing would happen over this network as over the internet, globally. This should help in bridging the gap to a certain extent over a period of time.

“The growth of internet users has been at a staggering 445% in the past 10 years.”

Internet users in the world by regions 2010

Growth in mobile cellular subscribers

0

1

2

3

4

5 3G

2G

2006 2007 010280025002 2009

Billi

ons

Source: ITU World Telecommunication/ICT Indicators database

8 | Digitalisation

Analogue to digital data: route to e-commerce

VCRs, tape players, and record players are now the devices of the erstwhile era of analogue recording, where data was linearly recorded from one point to another. With the introduction of digital technologies, recording and storage of data took place through the binary system using zeroes and ones. This resulted in advent of terms like “sampling rate” or “bit rate,” which refer to the number of times per second the digital signal is sampled, The higher the number, the higher is the quality of sound or video.

Lets look at why such digital transformation took place in the first place. Computers perform digital computations, which can only work with digital media. Consequently, all analog audio or video media need to be converted to digital to work on a computer. Once the information is digital, computers can be used to edit the data and create effects that were never possible with analogue media. Digital media is non-linear, which means it can be edited or played back by starting at any point, and is a timesaver compared to working with tape. Digital information also does not “wear out” after repeated use like tapes or records do, which results in much better longevity for digital media.

Similarly, documents which were earlier stored in printed form can be compared to analogue data where such data is subject to wear and tear over time. Earlier businesses were conducted through traditional means involving paperwork and manpower where transactions took place through physical

“Social networks like Facebook

and e-commerce are beginning to

converge leading to what has been termed as Social

Shopping”

interactions between the seller and the customer. 15 years back, websites like E-bay and Amazon opened their shops online, and ever since, this phenomena has changed drastically with the buying and selling process moving to a virtual transaction world. This led to the terms e-commerce and e-business. Subsequently, with the advent of mobile telephony services being integrated with data transfer facilities, mobile-business or m-commerce took shape. As per estimates, worldwide over 85% of new handsets are currently enabled to access the mobile internet and marketing and advertising through mobile has a market size of over USD 3.5 billion at present which is expected to grow exponentially to about USD 38 billion by 2015.

E-commerce and m-commerce sectors are now entering a new phase of development as the traditional online commerce sector merges with the newer web and mobile tools of social media, cloud computing and location based services. In addition, infrastructure required to facilitate online and mobile commerce is becoming a reality as high-speed broadband and mobile technologies become more closely integrated.

The e-commerce model is now evolving and combining new elements of online experience. In addition, original e-retailers are facing competition as services based on Person-to-Person (“P2P”) model, which refers to a service which allows users to

communicate directly with each other to exchange information, products, services, or make direct payments to each other, have become increasingly popular. Crowd-sourcing is an extension of the P2P model and facilitates group communication in niche areas. Also, social media such as social networks like Facebook and e-commerce are beginning to converge leading to what has been termed as Social Shopping. Successful online business models are being quickly adapted or incorporated into mobile devices in order to maximise revenue opportunities. It is now difficult to discuss e-commerce developments in isolation of m-commerce, as these two sectors have become so closely inextricably intertwined. Google’s gross revenue from mobile advertising is over USD1 billion per year, suggesting that mobile internet based business models can be main revenue earners under present scenario.

While the e-commerce sector has become a competitive sector – other changes are also occurring in terms of how merchants operate and manage their websites. Some e-retailers are outsourcing areas such as security and payment processing, while others are beginning to make use of cloud computing. Cloud computing allows those e-retailers who do not have resources or capacity to manage their sites infrastructure to tap into a cloud based service. Cloud computing that offer software-as-a-service, web-based access to storage and computing power and give developers the tools to build

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y Despite the economic downturn, online spending was resilient in most markets and in the current year we have seen the return of some growth, as tentative confidence in the world economy returns.

y Australia , Hong Kong, India, Japan, Singapore and South Korea are some countries in Asia Pacific which have embraced online spending and there is room for substantial growth ahead in there country. It has also become recognised that China too offers enormous potential in the future.

y Although the internet’s overall share of total USA retail sales remains relatively small (at less than 4% in the current year), the same has increased from around 1.5% in 2003. However, this share is expected to continue to grow steadily over the next 5 to 10 years, with exports forecasting sales of over USD 240 billion by 2014.

y Western Europe is one of the key regions where global e-commerce has grown. E-commerce usage in Eastern Europe is also growing strongly on the back of growing broadband penetration and internet usage.

y The opening of the telecom market and the blossoming of broadband has paved the way for a flourishing e-commerce sector in countries like Argentina as well.

y Mobile commerce is potentially important for a wide range of industries, including telecommunications, IT, finance, retail and the media, as well as for end-users. This will work best in those areas where it can emphasise on the core virtue of mobile networks – convenience.

y While Dubai and Jordan have developed as the Middle East region’s major bases for web-based businesses and services, Saudi Arabia, which is home to around one in seven Arab internet users, is this region’s most important market.

y In the United Arab Emirates, in 2010 Etisalat announced a partnership with Mobiqa which allows consumers to purchase tickets via their mobile (m-ticketing).

y M-payment services carry more than 12% of the country’s GDP in Kenya.

Source: Research and Markets 2010

Some facts about different countries in terms of e-commerce

and host web applications is one of the most promising area of IT. Organisations like Amazon, AT&T, Enomaly, Google, GoGrid, Microsoft, Netsuite, Rackspace etc. have been rigorously dwelling into the possibilities of cloud computing and have

been successful in turning their business goals into reality.

E-commerce and m-commerce services have become so dynamic that keeping abreast of the emerging trends has become

a key priority for many enterprises and investors alike. Our experts believe that the future directions of the e-commerce and m-commerce are likely to be focused on the use of social media, location based services and cloud computing for the digital economy.

10 | Digitalisation

Industrial revolution in the new age of digitalisation

The industrial revolution that swept the world in the 19th century, has been further accentuated by the digital era, with the application of digital technologies in modern day manufacturing industry. Digitalisation of manufacturing techniques has changed the way products are conceptualised, designed and manufactured. The shape of engineering drawing boards have changed from pen and pencil drawings on white paper sheets to computer simulated 3D models. This change has been brought about by development of Computer Aided Designing (“CAD”) and Computer Aided Manufacturing (“CAM”) technologies over the past three decades. From 2D CAD, technology has moved on to 3D CAD and direct digital manufacturing or rapid manufacturing. While CAM has been in the market since its inception in early 1970’s, integration of CAD with other components of CAD/CAM Product lifecycle management (“PLM”) environment that required an effective CAD data exchange have helped the manufacturing industry grow rapidly. The age of digitalisation enhanced these technologies to direct digital manufacturing or rapid manufacturing which is a process of creating physical parts directly from 3D CAD files or data using computer-controlled additive and subtractive fabrication and machining techniques.

“Digital computing has ushered in an era of rapid

manufacturing and robotics which in turn are assisting

the manufacturing sector to undergo

yet another industrial

revolution”

Advanced CNC machines, which are based on microprocessors and advanced software applications, have helped the manufacturing industry attain higher productivity.

The increasing usage of robots in the manufacturing process has led to minimisation of human intervention and maximisation of quality assurance in the manufacturing process as well as the products. The first modern industrial robot, called “Unimates”, was developed by George Devol and Joe Engelberger in the late 50’s.

The robots of today are based entirely on computer technology. Usage of robotics in manufacturing has been possible due to advancements in digitalisation techniques. The development of computing and software that run the computers aide robotics usage in factories. Software based control panels, computer interface for control and monitoring and mechanical robot hardware form the backbone of digital manufacturing in factories worldwide. Our research shows that 90% of all robots used today are found in factories. Although robots help in almost every possible sector such as aerospace, chemical, rubber and plastics manufacturing, electrical & electronics entertainment, food & beverage

manufacturing, mineral production, printing; automotive manufacturing and supply are by far the largest users of robots in their factories. In the turn of the century, as many as 90% of the robots used in manufacturing were used in an automotive industry. Our research also shows that though this share has now come down to about 50%, automobile is still the largest industry sector to use robots.

Digital computing has ushered in an era of rapid manufacturing and robotics which in turn are assisting the manufacturing sector undergo yet another industrial revolution, but this time towards a high degree of sophistication leading to increased level of automation and quality control in production.

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Industry focus

Although, digitalisation has changed facets of almost every aspect of our lives, be it communication, fashion, media, food processing, buying and selling of products etc., in this section we focus on some specific

Over the years, digital technologies have progressively increased their impact across all segments of media and entertainment (“M&E”) where digital transformation continues to expand and escalate. In the advent of the 20th century, three very evident technologies had an impact on the M&E industry - radio in 1920’s, television in 1940’s and cable TV in 1960’s. Later, introduction of VCRs, video games, wireless devices, the personal computer, the internet and DVD players accelerated the speed of the technological change. Since the beginning of 21st century, the world has seen a complete gamut of technological change from MP3 players, broadband, video on demand (“VOD”), satellite radio, social networking, digital media adapters, high definition TV, Blu-Ray and online gaming.

A new dimension was added to media technologies with cellular phones, personal computers and the internet which were introduced in 1980s. Once niche market products for advanced technological wizards, they are now seen, in developed markets, as

industry segments which have been most positively impacted by this transformation. The business models of these industry sectors have seen drastic changes over the last two decades as digitalisation has picked up rapid

must haves that even the most technophobic consumer cannot live without. Cellular phones have been replaced by smart phones and desktop computers by laptops and newly introduces tablet computers and the internet has transformed from a medium of communication to a global information and entertainment network, transmitting information on any topic in any category to anywhere in the world. Broadband and mobile networks are proving to have the strength and capacity to enable the rapid growth of application development through the process of convergence.

We now have tools at our disposal which are revolutionising our social and economic environment. Mobile and online social media sites like Orkut, Facebook, Twitter, MySpace etc. are good examples of how the new tools have been used to the level of personal interaction and show the potential that the internet, mobile, email and broadband infrastructure have to offer. The satellite television through the Direct to Home (“DTH”) format has become most

momentum. Modern technologies have been put to apt usage by these segments to maximise profitability and optimally manage their manpower, supply chain, operation and business strategies.

popular with more and more people turning to it due to digitally enhanced pictures and better sound quality and Value Added Services (“VAS”) such as integrated internet access, VOD, additional radio channels etc.

The internet has become a great source of entertainment with many different services available. As well as social networks, some of the most popular online entertainment services include gambling, gaming, online dating, online music and online video. Experts believe that in the next few years the overall global entertainment and publishing industry (online and offline) is expected to be worth a couple of trillion dollars. Online video in particular is becoming recognised as a powerful format for entertainment and communication while providing an enhanced online experience. Google’s YouTube continues to dominate currently in terms of the number of viewers and broadcasts streamed. New business models are also emerging that explore alternate ways of generating revenue from such sites. Leading internet media companies also continue

Media and Entertainment

“Digital technology has been aptly deployed by some industry segments to maximise profitability and optimally manage their manpower, supply chain, operation and business strategies”

12 | Digitalisation

to look for opportunities presented by mobility, cloud computing, home media, infrastructure etc. In all this emerging markets have also not escaped attention; China in particular is seen as a significant growth opportunity.

Google remains the most popular web property worldwide. One of the other

areas where the digital media has seen a sea change within last two decades is in the special effects, with these in movies are increasingly getting sophisticated. The growth of companies like Lucas Film’s Industrial Light and Magic Pixar, Silicon Graphics and others, means that entertainment is increasingly blurring the line between creativity and engineering.

Popular Hollywood movies like Avatar, Toy Story, Day After Tomorrow, 2012, Matrix, Harry Potter and the Lord of the Rings are some astounding feats of special effects being used in entertainment business through computer-generated imagery (“CGI”) techniques. Some companies which have pioneered this industry are Pixar, Lucas Film and Blue Skye.

Our research shows that the M&E spending of 12 leading countries was above USD 20 billion last year, led by the USA at USD 428 billion and Japan at USD 164 billion. Of the leading countries, China is projected to be the fastest growing with a 12% compound annual growth rate (“CAGR”), fuelled by a vibrant economy and large increases in broadband penetration which in turn are expected to propel other segments. Japan is expected be the slowest growing of the leading countries at 2.8% CAGR.

Internet access is a key driver of spending in most segments. Experts are of the view that increased broadband penetration will boost wired access while growing smartphone penetration and wireless network upgrades will drive mobile access. Experts also believe that spending on wired and mobile Internet access will rise from USD 228 billion in 2009 to USD 351 billion in 2014.

Our research shows that global advertising is set to increase at a 4.2% CAGR from USD 406 billion in 2009 to USD 498

billion in 2014. At the same year the overall consumer/end-user spending is expected to rise from USD 688 billion in 2009 to USD 842 billion in 201t a 4.1% CAGR.

According to experts, the global video game market is projected to grow from USD 52.5 billion in 2009 to USD 86.8 billion in 2014, growing at a CAGR of 10.6%. This will make it the second fastest-growing segment of M&E behind internet advertising wired and mobile. However this will be the fastest-growing consumer/end user segment ahead of TV subscriptions and license fees.

The global television subscription and license fee market is set to increase from USD185.9 billion in 2009 to USD 258.1 billion in 2014, at a CAGR of 6.8%. Our research shows that this will outpace TV advertising, which will grow at a CAGR of 5.7%. Asia Pacific will be the fastest-growing region with a 10% CAGR and is expected to rise to USD 47.1 billion in 2014 from the current USD 30 billion.

The total global spending on consumer magazines fell by 10.6% in 2009 and is projected to follow a similar pattern till 2012 but with a less steep negative growth rate and modest growth during 2012–14. As a result, spending on magazines will total USD 74 billion in 2014, with 0.7 % CAGR from USD 71 billion in 2009.

Experts believe that electronic educational books will grow at a CAGR of 36% globally but would still only account for less than 6% of global spending on educational books in 2014.

Global M&E O

utlook

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Retail

Digitalisation provided a new dimension to the operational setup of the retailing industry as a whole. The introduction of point of sale equipment, bar codes and billing and payment databases have facilitated efficient management of large retail organisations. With the deployment of digitalisation, retail operations can be recorded in a structured and systematic manner, providing detailed analysis of the sales and volume of transactions. Electronic transactions have increased with the volume of sales. Flexibility in the payment terms ranging from interest free easy EMI’s to cashless transactions have helped in driving the sales northward. While the introduction of a new technology may be intricate for some retailers, its convenience and cost effectiveness creates the need for transformation. Large stores need to monitor inventories and expenses of establishments virtually on an online basis. With automated machines and high-end computers making the task simpler, the focus of retailer is on retaining customers with new strategies. Add to this, digital security systems offer safer shopping experience for retailers as well as customers, providing immense mental relief to all the stakeholders. Point of sale (“PoS”) applications provide quicker consumer check-out and multiple payment options like credit cards.

Retailers can now enhance the experience their customers receive with store and loyalty cards which can facilitate tracking, spending habits and buying trends. By knowing who, what, when and how people buy certain products, retailers have been developing individual campaigns, staff and stock levels effectively.

Another new road in the technology to improve their overall operations, safety and communication is through the use of radios. For all retailers, two way radios are the perfect way to improve their communication and performance. Not only do two way radios allow members of staff to communicate over a wide area but they can be used as a health and safety tool by which workers can report accidents, check stock levels and stay in touch across the entire site from the shop floor to the distribution area. For example if a customer asks a member of staff if a particular item was in stock, within seconds sales person may revert to the customer.

The emphasis of retailers is in utilizing IT solutions like Customer Relationship Management (“CRM”), Online Analytical Processing (“OLAP”), Collaborative Planning, Forecasting and Replenishment (“CPFR”) tools to conduct behavioural analysis. Retail ERP packages have been implemented by large retailers but one of the biggest hurdles in utilizing these optimally is the inadequate training to the end users. However, it is expected that the demand and utilization of these packages will grow in the near future. It is estimated that about 400 to 500 MB of data are transmitted daily between point-of sales counters and corporate headquarters of retail chains in developed countries. Relay of transaction data in such volumes helps maintain a close working relationship between retailers and vendors to predict consumer demand, shorten lead times, reduce inventory holding and thereby save cost. Retailing database also helps in tracking purchase behaviour through demographic and psychographic information. This clearly is an indication of digital technology serving as an effective means to build the retail business and not just restricted to supporting and improving the operational efficiency. Use of electronic communication like e-marketing is a cost-effective form of attracting and retaining customers. With internet penetration and awareness on the rise in the country, e-marketing proves to be a good communication tool. Use of technology is being further extended to home shopping, direct mails and telemarketing while facilitating growth in newer applications like kiosks, intelligent vending machines, PC net shops, etc

Banking business of international banks such as Citibank, HSBC, Standard Chartered etc. is growing rapidly due to increasing use of e-cash gateways with the growth of online retailing. Services like PayPal are becoming highly popular amongst millions of consumers around the world for transacting on online shopping portals.

It is widely felt that the key differentiator between the successful and not so successful retailers is primarily in the area of technology. Consequently, it is technology that will help the organised retailer score over the unorganised players, giving both cost and service advantages. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and thereby, save cost. Wal-Mart pioneered the concept of building a competitive advantage through distribution and information systems in the retailing industry. They introduced two innovative logistics techniques - cross-docking and electronic data interchange. Today, online systems link point-of-sales terminals to the main office where detailed analyses on sales by item and classification are conducted for the vendors. Besides vendors, the focus of the retailing sector is to develop the link with the consumer. `Data Warehousing’ is an established concept in the advanced nations. With the help of `database retailing’, information on existing and potential customers is tracked. This facililates the flow of information on what was purchased and by whom, and also on softer issues such as demographics and psychographics.

14 | Digitalisation

Publishing

From the prehistoric period, words have been incised in clay, inked with a quill and later with inventions, printed on presses or transmitted as electronic bits in email. This is moving to dedicated eReaders, multipurpose tablets and other digital devices that according to experts could be in the hands of 15% to 20% of the developed world’s population in the next 5 years. This new format is expected to trigger a profound change in the publishing world and start new trends in content creation.

Several factors suggest a fairly smooth evolution toward the digital age, including most readers’ continuing attachment to paper, the complementary nature of eBooks and paper and relatively limited electronic piracy. Nevertheless, with 15% to 25% of book sales shifting to digital format by 2015, the publishing industry is heading into wholly new territory. The penetration rate could reach higher levels if multipurpose tablets continue to penetrate into the gizmo market across the world in their current upward trajectory movements. As USA, Korea and China are setting the pace in this context and could see very high penetration rates by 2015 whereas other countries, particularly those in Europe, will eventually catch up. Over the past 20 years, digitisation of content has shaken the economic foundations of industries like the press, music and video. The absence of convenient e-reading platforms had protected books from such a revolution till now. However, the emergence of new mass-market devices, such as dedicated eBook readers or multipurpose tablets, has put an end to that reprieve. However long it takes, conditions are perfectly aligned for readers to embrace digital devices. Prices have sunk below consumers’ purchasing thresholds, with some e-Readers already less than USD 125. At the same time, the reading experience and ergonomic designs are improving.

Given the pace of transformation, authors, publishers, distributors and retailers may well need to rethink their business models and their relationships with one another. They will have to address several critical challenges: pricing policies that secure the industry’s changing profit pools, redefined distribution networks that preserve format diversity and the reallocation of value among industry participants. Blending editorial with retail has become advantageous from economic

and consumer standpoint with publishing houses entering into a series of e-commerce partnerships in the course of this year. Large publishers like Hearst Magazines which publishes biggest selling magazines such as Cosmopolitan and Esquire and Conde Nast publication which publishes Vogue are teaming up with online merchandising agencies to boost up revenue through selling products featured in their magazines. Also, online publishing services are fast catching up with publishers like iUniverse, Author House, Infinity Publishing, Bookstand publishing, promoting and selling books through the internet. Unlike portals such as Amazon, these are not only sites which sell the books but publish and market them too.

Experts believe that the emerging scenario would see a shifting balance between eReaders, such as Amazon’s Kindle and multipurpose tablets such as Apple’s iPad. Previously, eReaders could capture as much as a third of the market, based on a price advantage and a reading experience that closely matches that of paper. Multipurpose tablets, priced above most consumers’ USD 300 psychological threshold, are still too expensive for mass-market adoption. Yet over time, they could predominate by capitalising on multimedia capabilities that appeal to a broader audience even as their prices inevitably decline. Indeed, access to other media and valuable functions may open the gates on eBook penetration rates.

Emerging consumer behaviours will affect literary genres differentially in terms of their acceptability in digital format. In other words, distinct adoption rates and business models will impact fiction and nonfiction works, guide books, illustrated books and children’s literature or information. Reference books, such as encyclopaedias and maps, have already migrated to digital formats. Almost all are now available free on the internet, which has dramatically depressed print sales. Today, the static nature of first-generation electronic formats has made both publishers and consumers focus first on fiction and nonfiction and in coming next 5 years, such works will likely remain the genre which is most widely read on digital formats. Digital offerings for other genres, such as lifestyle guides, illustrated books and children’s books, remain relatively limited today. But their production could accelerate to meet the strong consumer expectations. Competition from today’s magazine and internet

companies could limit this potential, but a strong new demand is there to be met.

Powerful digital distribution platforms have already emerged, with select players predominating this space: Amazon, benefiting from its first-mover advantage, Apple, riding on the success of iTunes, and possibly Google in the near future. These platforms use data-mining algorithms to extract a new kind of consumer insight. In essence, they seek to step into the advisory role of the individual bookstore owner. More than that, virtual distributors could upend today’s book-selling hierarchy, altering everything from its vast physical distribution networks to authors. These could even contribute to the emergence of truly global book publishing markets.

Writers, in particular, may be able to carve out a new and direct role in consumer relationships. Social networking sites such a Twitter are being increasingly used by the authors to popularise their books and create a one-to-one relationship with the readers which was an elusive situation earlier. The anticipation for a particular book goes up amongst the readers once a personal bonding with the author is achieved over such social networking sites. Hence, the role of author in the modern publishing world becomes more vital. Authors are in an ideal position to benefit from the digital era. Best-selling authors in particular should gain more bargaining power with publishers and distributors, which could increase their share of the profit pool. A number of authors have already unbundled the physical and digital rights of their works to increase their negotiation power.

The advent of digital publishing raises some fundamental questions as to how and who shall preserve tomorrow’s electronic content? What is to be preserved and which are to be left out? Who will decide on it and under which criteria? Countless libraries, national or private, have already begun digitising paper-based content to secure its preservation. This is a colossal task requiring equally large investments. The digitalisation of content and its preservation is a big business opportunity for many organisations across the world. The digitalisation of publishing has opened doors to many opportunities not only to the people directly related to this industry but also to others who tend to support this industry through digital technology innovations.

Mazars Thought Leadership Series | 15

an approach known as forbearance where incumbents have no obligation to offer access to other operators once they have upgraded to NGN. The European Union (“EU”) is opposed to this approach and has opted for charging risk premiums for NGA access. Japan is the global leader in deploying NGN broadband networks, but for successful implementation of NGN, there has to substantial investments in the fiber cable networks across the world. Demographics, topography, regulatory and political scenario along with consumer demand are key factors that are driving investments in fiber cable networks that enable NGN.

Digital infrastructure is the backbone of telecommunication and according to the reports of financial analysts, in USA alone, the overall capital investments by telecom carriers, cable TV companies, and broadband wireless providers was USD 51bn in 2009 out of which almost 60% went to further boosting and setting up infrastructure for broadband services. Digital switches have become indispensable part of active infrastructure in telecom sector. The BRIC markets comprising Brazil, Russia, India and China are expected to see the spending on telecommunications grow to nearly USD 1 trillion collectively over the next few years. It is estimated that by the end of 2010, there were 5.3 billion mobile cellular subscriptions worldwide, including 940 million subscriptions to 3G services. Access to mobile networks is now available to 90% of the world population and 80% of the population living in rural areas. With 143 countries now offering 3G services commercially, people are migrating rapidly from 2G to 3G platforms, in both developed and developing countries. In a stage where 3G has become affordable to the masses a number of countries like Sweden, Norway, Ukraine and USA have started to offer 4G wireless platforms which provide even higher broadband speeds.

The emergence and continuing commercialization of Voice over Internet Protocol “(VoIP)” is another area that impacts the telecommunications industry where voice communications are done over IP networks such as the internet or other packet‐switched networks. Some of the future technologies that the industry is contemplating are IP multimedia subsystems (“IPMS”), mobile TV, mobile virtual network operator, IP version 6, and the fourth generation cellular network.

0

50

100

150

CIS Europe TheAmericas

ArabStates

Asia & Africa0

5

10

15

20

252009/2010growth rate (%)

Subs

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Region-wise mobile phone subscriptions per 100 Inhabitants, 2010

DevelopedWorldDeveloping

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20100

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Growth of broadband subscriptions per 100 inhabitants in last one decade

Source: ITU World Telecommunication/ICT Indicators database

Telecommunication

Telecommunications is a captivating, fast paced and one of the world’s largest industry sectors that influences every aspect of our daily life like normal voice phone calls, connectivity to the internet, satellite communications, surfing the web, fax transmissions, video conferencing, high speed data communications and cable TV. It started with first public demonstration of Morse’s electric telegraph, Baltimore to Washington in 1844. In 1876 Alexander Graham Bell created history by exchanging world’s first two way long distance telephone conversation between Cambridgeport and Boston, Massachusetts. Times have changed since then in a dramatic manner with the emergence of digitalisation in the field of communication. Telecommunication today is one of the most exciting occupational fields that modern society has to offer. New techniques through innovation in digital data transfer technologies are constantly being developed which find applications in the technical systems that make up a telecommunications network.

In the current day scenario, there are a lot of wireless digital communication technologies that have evolved and are used by people all over the world. Wireless technologies like GSM, CDMA, time division multiple access (“TDMA”), universal mobile telecommunication systems (“UMTS”), GPRS and latest 3G cellular wireless network are growing at a fast pace promising high speed data communications.

There is a huge growth in the mobile phone subscriber base in the last five years. The ensuing graphs show the region-wise divide in the cellular subscription and the tracks the growth of broadband internet subscription per 100 persons in last one decade.

The latest and most talked about development in the digital telecommunication space is next generation network (“NGN”) which denotes some key architectural evolutions in telecommunication core and access networks that are being deployed worldwide. NGN is a network system that transports all information and services (voice, information & media) by encapsulating these into data packets, similar to internet technology. NGNs are commonly built around the Internet Protocol (“IP”).

The transition to NGN requires a substantial amount of capital expenditure which has raised questions about access rights to these networks. The USA is taking

16 | Digitalisation

records (“EHR”) are likely to be turned into searchable medical databases, providing a “smart grid” for medicine that will not only improve clinical practice but also help to revive drugs research. In the digital world, wireless computers pull together all of the digitized pieces of patient information - vital signs, physicians’ notations, lab and test results, prescription histories, X-rays and package them as repositories for real-time, enterprise wide electronic data delivery. That essential reform will enable many other big technological changes to be introduced. For example, clinical trials are an integral part of the healthcare system. However, they are highly expensive and take a long time. It is currently possible to replicate some clinical trial results without the time and expense, using access to EHR. Scientists have been able to do this by analysing the data of several thousand people.

Just as important, it can make that information available to the patients too, empowering them to play a bigger part in managing their own health affairs. Digital technologies such as wide area outdoor wireless (“WiMAX”), VoIP, radio frequency identification (“RFID”), among other technologies allow information to be disseminated quickly and easily at the critical point of care. The EHR is currently directly available to patients also for the purpose of self-care.

Recent advances in digital technologies are enabling providers improve the quality of patient care. Today’s healthcare IT is much more than traditional isolated computers

Healthcare

Despite its history of innovation, the health-care sector was surprisingly reluctant to embrace the information technology revolution of 1990’s. However, healthcare and medicine is now catching up in the digitalisation drive. Devices and diagnostics are also going digital, advancing such long-heralded ideas as telemedicine and personal medical devices for the home and smart pills.

The first technological revolution in modern biology started when James Watson and Francis Crick described the structure of DNA half a century ago. That established the fields of molecular and cell biology and the basis of the biotechnology industry. The sequencing of the human genome nearly a decade ago set off a second revolution which has started to illuminate the origins of diseases. A third phase of revolution is shaping up with convergence of biology and engineering. Experts believe tools such as information technology, advanced materials, imaging, nanotechnology and sophisticated modelling and simulation are likely be brought to application in biology too.

Digitalisation promises to connect doctors not only to everything they need to know about their patients but also to other doctors who have treated similar disorders. The convergence of biology and engineering will be led by information technologies, which in medicine means the digitalisation of medical records and the establishment of an intelligent network for sharing those records. Electronic health

and unfriendly applications. Increasingly, patient care is exploiting the new tools and information that systems can provide, while maintaining a patient-centric approach to their use.

Digital recordkeeping is only one component that is changing the health care landscape. Robots, equipped with a video screen and two-way video capability, allow a physician to control it remotely to conduct patient visits and video conferences, check on patient recovery and make decisions under emergency conditions.

Digitalisation is also changing the pharmaceutical industry. Electronic prescription drug systems enable physicians to write prescriptions directly to a pharmacy. Automated machines can dispense medications and supplies at the nursing station or from the hospital pharmacy directly to the nursing cart. These machines also record and generate bills and maintain inventory records and restock medications.

The digital handheld blood monitor such as Accu-Check is another invention that has helped diabetic patients world over. Sophisticated medical technologies save thousands of lives every year, through advanced scanning systems and devices that keep people’s hearts beating and blood flowing. In the last century, medical technologies ably did their part to extend the life expectancy. However, unlike other sectors where use of technology is bringing costs down, the opposite is happening to healthcare segment. Although the same digital technology is used for healthcare as in some other sectors, the price of the technology is not coming down as expected. Two basic reasons are attributed to this fact. First, the lack of price transparency in the medical technology market as it is not an open marketplace of prices and services. Secondly, it is difficult for hospitals and clinics to know whether there’s a better deal elsewhere and manufacturers can keep costs high. Thirdly, and perhaps more significantly, medical technologies still tend to rely on an expert class to actually deploy the technology. Highly trained and expensive experts are still needed to actually put the technology to work, making it impossible to entirely automate a process. The result is that technology stays expensive to use, and costs keep going up.

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Digital social isolation

Social networking websites provide tools by which people can communicate, share information, and create new relationships. With the popularity of social networking websites is on the rise, our social interaction is effected in multiple ways as we adapt to our increasingly technological world. People now socialize through the internet and it takes away from the in-person socialization that has been predominant till now. Social networking websites effect our social interaction by changing the way we interact face-to-face, how we receive information, and the dynamics of our social groups and friendships.

Communicating through the internet and social networking websites is a different experience than communicating in person. Chatting online is quick and easy and permit connecting to an almost unlimited number of people from all over the globe. At the same time it changes the traditional in person conversation that is important to our social lives and friendships. This can neither be attributed to have a positive or negative impact on our social behaviors and interaction unless and as long as people know to strike a healthy balance between internet interaction and face to face interactions.

Digital media has penetrated into our culture, invaded our values, and overwhelmed us with information. The digitalisation of lifestyle seems complete at this moment with rapid transportation using computer controlled public transport

“People now socialize through the internet and it takes them away from personal socialization that has been around forever”

systems, latest interactive and intelligent gadgets etc. but it is important to consider social losses alongside the convenience

18 | Digitalisation

of this digital living. Recent advances in information and media technologies have dramatically altered the ways in which we interrelate to the outside world. For example, instead of playing an actual match on a sport field, a virtual match against the play station is preferred.

Despite or perhaps due to the advancements in information technology, quality of life in technology and media-rich societies has suffered at the same time. Issues such as the media’s impact on mental health, the effect of video games and digital entertainment on child development, the use of media in education, and technology addiction

have become increasingly important. The idea that technology is responsible for the widespread social isolation of our time has got stronger and stronger in the last century, walking at the same pace of technological advance. Besides folk wisdom and literary fascinations, recent empirical studies suggest that communication technologies like TV, cell phones and internet may interfere with face-to-face interactions. In today’s digital world, people can get entertainment and information while remaining entirely alone.

Digital gadgets like iPods immerses the listener in a private world, cut away from the community-building nature of popular

music that has been a characteristic through much of its history. While the Walkman triggered a similar isolation, the shift from analogue cassettes – of a finite length – to the endless permutations of the party shuffle has meant that the digitised soundtrack can be a perpetual companion through life without changing the sides of a tape or inserting a new disc.

According to experts, an average, internet user spends three hours online every day. More than half of the time is spent communicating, 8.7% playing games, 6.5% surfing and 4.3% shopping. The web is but the latest in a long list of technological developments that have improved the quality of life but restricted social interactions.

It can be argued the world is more connected than ever before, but people spend less time in person with those they care about. With regards to social interactions, quantity has replaced quality. Video games as well as at-home games have been a part of social life for decades. Evolution of gaming over time from board games to video games has led to digital isolation. 80% of the teenagers go online and 43% spend over an hour a day on the internet. A study also found that people who use social networks like Facebook or Linkedin are 30% less likely to know their neighbours and 26% less likely to provide them companionship.

People’s personalities begin to extend, grow, and pervert themselves when they reach the digital world, bringing out otherwise uncharacteristic attributes in the users who interact with them, whether those users are trying to defend a point of view or refute one. This is not the type of behavior the social network was planned to instigate; since these bodies of information and communication were created to bring people closer together. It is a loss of social values, a change in standards and changes in etiquette that further alienate people into digital isolation.

Mazars Thought Leadership Series | 19

Challenges & future outlook of digitalisation

Once a fiction, now a reality. This has been the story of digital technology with its limitless possibilities to transform the weirdest of imagination of yesteryears into a modern day marvel. The business of digitalisation began with the invention of the first microprocessor and development of computing technology based on binary digits in the late 1950’s. There are conflicting views as to what all can be termed as the biggest inventions of the digital era. The following list brings out some of the most effective inventions which formed the basis of further inventions and modern day digital technologies.

y Transistor

y Microprocessor

y Desktop computer

y Gaming consoles

y Modem and internet

y Digital printing technology

y Digital camera

y Digital audio tracking systems

y Mobile telephony

y Laptop and miniature computers

Considering the above, three inventions namely personal computer, cellular wireless communication and the internet have really radically transformed the future of digital technology. However, the explosive growth in digital technology over the last few decades has raised several challenges as well. It has been discussed in many

“Three inventions namely personal computer, cellular wireless communication and the internet have really radically transformed the future of digital technology”

forums across the world that the privacy is being compromised in the digital age with almost every information being easily transmitted within a matter of seconds. With the sudden increase of information exchange, authenticity of such information is another critical issue being faced by the world today. Another major challenge in the digital world relates to possibilities of networks getting corrupted. Although, digital technologies are becoming more and more secure, networks, both cellular wireless communication and the internet, are becoming vulnerable to attacks from antisocial elements. The ability to accommodate the vast and increasing demand for information storage space on the internet is cited as another challenge that has to be overcome.

Digitalisation has changed many industries and business strategies of organisations, to cater to digital media and the customer base that who is becoming more and more accustomed to digital lifestyle. One of the business segments where digitalisation has made a huge impact is the M&E world. This industry is set to grow at a more than 6% globally in the coming years and most of the growth is expected to come from interactive digitalisation. With opportunities of growth of about 15% in the BRIC countries, the world’s largest digital media companies are turning their focus to these countries. This is just one of the many examples where digitalisation is changing the face of a USD 1,400 billion industry. Special effects, particularly in animation,

movies, pyrotechnics etc. are some fields within the entertainment business that have changed with the advent of digital tools and techniques. With broadband internet, IPTV, networked gaming system, VoD etc. being used by of common people, the potential of digital media is virtually limitless.

Manufacturing, aerospace and product designing are some fields where almost all processes are carried out using digital technology. From ideas which are currently under research and development such as keeping backup of data from a human brain in digital media to connecting the internet directly with human neurons, scientists are pushing the digital technology to its limits. However, self driven cars, automated public transport systems, digital money, time travels, 3D holographic imaging, telepathy, controlling weather etc. which seemed distant dreams are now achievable projects under active research through the use of digital technologies. It is very intriguing to internalise now that one day almost all activities would be digitally run and controlled.

The possibilities of digitalisation driving transformation of human society to a next level of comfort and sophistication are immense and only time will stand witness to the changes digital technology would bring to our planet.

20 | Digitalisation

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22 | Digitalisation

Kapil GandhiSonali MadnaikApeksha Bharuka

EuropeAustriaBelgiumChannel IslandsCyprusCzech RepublicDenmarkEstoniaFranceGermanyGreeceHungaryIrelandItalyLithuaniaLuxemburgMaltaNetherlandsNorwayPoland

PortugalRomaniaRussiaSlovakiaSpainSwedenSwitzerlandTurkeyUkraineUnited Kingdom

Asia-PacificAustraliaChinaIndiaIndonesiaJapanMalaysiaNew CaledoniaPakistan

PhilippinesSingaporeTajikistanThailandThe Republic of KoreaVietnam

North AmericaCanadaUnited States of America

Latin America and the CaribbeanArgentinaBermudaBrazilCayman IslandsChileDutch West IndiesEl Salvador

MexicoPeruUruguayVenezuela

Middle EastIsraelLebanonOmanPalestineQatarSaudi ArabiaUnited Arab Emirates

AfricaAlgeriaAngolaBeninBotswanaCameroon

ChadComorosCongo (Brazzaville)Congo (Kinshasa)DjiboutiEgyptIvory CoastKenyaLibyaMadagascarMauritiusMoroccoNigeriaSenegalSouth AfricaTunisia

(including Mazars correspondent, country local correspondents, joint ventures and representative offices)

Global presence of Mazars

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