Exponential Digital Solutions (10xDS) will be six years old in November 2022, a noteworthy milestone. 10xDS has created a formidable team of business consulting and technology experts over the past six years to assist our clients. Our solutions have helped enterprises achieve digital transformations, rethinking their business strategies to stay ahead of the digital curve.
10xDS successfully delivered a bank reconciliation automation solution developed for a leading brand that provides specialized services to Oil and Gas companies in the Middle East. The solution included an automated reconciliation of bank statements with associated general ledgers of the firm and preparing a bank reconciliation statement based on the validation.
On October 25, 2022, ISO/IEC 27001:2022, the new edition of the standard was published to replace the 2013 version. ISO/IEC 27002:2022 is a standard developed by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) to ensure the safety and security of confidential information. It offers high-level guidance on how to establish an ISMS in accordance with ISO 27001.
With the introduction of the newly created Judicial Banking Orders System (“JBOS”) in Bahrain, the Ministry of Justice, Islamic Affairs, and Waqf (abbreviated “MOJ”) will institute a new system for blocking and unblocking orders with all banks that take part in the programme. Therefore, the current Blocking and Unblocking (“BUB”) system at the Central Bank of Bahrain (“CBB”) has been replaced by the new system.
Sustainability being one of the three guiding principles of Bahrain’s Economic Vision 2030, government finances will adhere to the principle of sustainability, upholding a stable and forward-looking system. As a result, there is a greater emphasis on ESG (environmental, social, and governance) principles for banks, as well as increased awareness for contribution bankers to make broader goals by providing green financing. Banks are attempting to speed up digitalization and go paperless in offices and branches with ESG as the core topic.
Every October, Cybersecurity Awareness Month (CAM) is held to educate and promote public awareness about cybersecurity and best practices. By making cyber more accessible, it intends to empower individuals and businesses to adopt cybersecurity precautions and necessary measures. Here at 10xDS, we’re pleased to announce that we’ve signed on as a Champion for Cybersecurity Awareness Month 2022.
Business, personal, and government contracts are all being significantly affected by the rise of digitalization. As more data is gathered, stored, and transmitted electronically, not only do new potential for monetization emerge, but also new dangers and obligations, such as data privacy and cybersecurity. In order to help you identify the digital risk areas and tackle the associated legal challenges, 10xDS Digital Services team can help organizations in areas such as Data and Cyber Law, Digital Intellectual Property (IP) Law, Digital Regulatory Law, among others.
10xDS won its debut RPA engagement in the education sector with a renowned University in Bahrain to automate data update processes across systems. The university has several areas such as admissions, scheduling meetings, tracking attendance, grading examinations and assignment, managing finance, among others, and automating data update processes open the way for the elimination of paperwork and manual operations.
After two years of virtual Onam celebrations, this year 10xDS celebrated Onam in a grand style with an extravaganza of celebrations, competitions, and a kaleidoscope of vibrant colours. The event was aptly named “VannOnam PolichOnam!” as the team spent celebrating most of the beautiful day out amidst the back waters and lush greeneries of Alappuzha in a houseboat.
10xDS in partnership with Helios Consulting will be implementing digitalization in tax services to transform various steps involved in tax collection, processing, calculation, and more. We will be leveraging technologies like hyperautomation, AI and analytics to streamline the tax information exchange within an organization.
10xDS has entered into a strategic partnership with Soroco, the world’s first work graph company, founded by Rohan Murty, son of Infosys founder NR Narayana Murthy. This collaboration will provide task-mining-led solutions to global customers. 10xDS will offer AI, Analytics, Intelligent Automation, and other emerging technologies to implement and manage task mining solutions.
As the country reached a historic milestone, with its 75th Independence Day ‘Azadi Ka Amrit Mahotsav’ on August 15th, every citizen should have felt proud to be a part of this independent nation, celebrating this day with the full spirit of patriotism. Team 10xDS wishes every Indian a happy Independence Day.
10xDS developed a solution for SOFR implementation for one of the leading Banks in Bahrain. The implementation was as per the compliance requirement to replace LIBOR with SOFR and was successfully done with integration to Core Banking. The implementation would help the business to do the deal calculations based on SOFR outside the Core Banking. Emerging technologies like RPA and Microsoft Power Apps were used to achieve the business objectives by leveraging existing RPA and Microsoft infrastructure.
10xDS successfully completed the RPA migration project from V11 to A360 for a leading Manufacturer in Bahrain. The project involved 31 scheduled tasks and 180 subtasks to be migrated.
10xDS implemented an automated solution for the creation of Sales database. The BOT crawls through multiple sites to extract details based on filtering criteria such as Industry/Domain, Region, Company size, Name, Job title, among others. The output is provided in an excel format with details as per filtering criteria along with contact details to the Sales team to reach out further. The BOT significantly reduced the processing time to fetch 25-line items from 4 hours to 10 mins.
We are extremely pleased to announce that The Voice of New – 10xDS LinkedIn Newsletter in now live!
10xDS streamlined the Blocking/Unblocking process mandated by CBB for yet another bank in Bahrain. Blocking/Unblocking (BUB) is an ideal candidate for automation due to its high volume, strict adherence to SLA set by CBB, highly definable and standardized process, and the requirement of many personnel for complying to CBB standards. The process was successfully automated considering all the nine different business scenarios that existed. Automation is envisaged to help the bank to avoid hefty penalties imposed by the Central Bank for noncompliance.
10xDS helped a leading bank in Bahrain to leverage a Microsoft Power Platform based app to manage the on-boarding of employees. The solution covered the automation of onboarding process activities such as setting up of Basic Record File for the shortlisted candidates and issuance of automated Offer Letter, E-mail notification on the response/action on the Offer Letter and posting of accepted Offer Letters digitally using DocuSign.
10xDS automated the process of monitoring the Solar Winds IT Infrastructure web site to determine nodes of the oil well devices having the maximum packet loss during data transmission for one of the leading oil producers in the Middle East.