As technology opens more possibilities for easy access to information at a few clicks, not all connected parties are equally elated about being exposed.
While privacy should be respected, when it comes to the business world technology can play a powerful and positive transformational role in maintaining a healthy corporate culture when applied for such purposes.
HumanIPO reported on Association Matrix, a web platform that indicates business connections to prevent conflict of interest surprises with regards to potential fraud cases.
André Stürmer, developer of Association Matrix and chief executive of credit bureau specialist Inoxico, explained the complicated reality in South Africa where firms who commit to using the platform prefer to be undercover.
The stigma attached to using such tools to promote transparency clearly has to change if fraud is to be conquered.
Despite Africa’s rather conspicuous struggle with corruption, Stürmer explained how officials acknowledge the necessity of assistance in the field of openness, but doubt its implementation due to an uncooperative attitude.
Willing role players in the governmental circles point to the private sector for the implementation of tech for transparency, while young entrepreneurs are forced to beg for money from other countries to feed their families because of the national government’s failure to supply efficient support.
While trust in business networks definitely plays a role in considering the acceptance of these strategies in a corporate sphere, the situation calls for a decision of honesty, rather than cross-enterprise finger pointing.
Ironically, conflict of interest issues often originate from contacts. However, if technology can been viewed as a helping hand in turning the tables on connections for better, rather than backhand business deals, a bright African business future can be foreseen.
Africa is a continent full of innovative ideas, emerging entrepreneurs with success stories highly esteemed by even key international role players and major potential on the tech scene.
As thousands of startups hit the market, new opportunities should be taken on with integrity and technology embraced as a step in the ladder to success rather than a suspicious move sworn to secrecy in the hope for a shortcut to reach the top.
Technology’s influence infiltrates the functionality of society increasingly, calling for a stand of optimal execution rather than a step back into the shadows.
