BAFS Innovation Development Company Limited (BID), a subsidiary of Bangkok Aviation Fuel Services Public Company Limited (BAFS), recently unveiled its new digital solutions business to provide an integrated set of digital services while teaming up with its partners to offer Thailand’s first Blockchain-as-a-Service (BaaS) and Business Continuity Management System (BCMS+) service during the COVID-19 pandemic to companies and agencies both regionally and internationally.
M.L. Nathasit Diskul, Vice President of BAFS, sees important growth opportunities in digital solutions following the global outbreak of COVID-19, and notes that this is pivotal for the company which must accelerate its digital transformation by applying advanced technologies to its business processes to move beyond COVID-19 and handle other challenges. As a result, BAFS, through its subsidiary BID, decided to increase its registered capital from five million to 70 million baht and step into the digital solutions business to meet the needs of both public and private sector by conducting corporate restructurings and moving towards digital transformations resulting in an increase in income for diversified non-core businesses under BAFS Group’s Growth Strategy.
Mr. Gritt Madisara, Chief Executive Officer of BID, outlined the company’s activities beginning with their recent launch of an integrated set of digital-based services and products, including Thailand’s first Blockchain-as-a-Service (BaaS), partnering with Sapio Asia, which has expertise in global AI and blockchain, to establish SDLT Company Limited to provide BaaS for public and private companies; BCMS+ (Business Continuity Management System) to ensure business continuity in the middle of any crisis or challenge, BID is currently providing this service to Airports of Thailand Public Company Limited covering their headquarters and numerous airports across the country; E-ISO (Electronic-ISO) to ensure management systems follow ISO standards to maximize their effectiveness; Risk Management System (RMS) at the corporate and functional levels, and Information Technology (IT) which includes support for design, installation, maintenance, as well as software to properly structure the foundations of IT and data networks; Personal Data Management as an tool to effectively manage personal data in response to The Personal Data Protection Act B.E. 2562 (PDPA 2019) resulting in improving the PDPA’s effectiveness and agility in managing consent and ability to request to delete data and other conditions for data subjects, companies or agencies that require the use and disclosure of personal data; and the Intelligent Refueling Information System (IRIS) and (Fuel Inventory Management System (FIMS) to increase the effectiveness aircraft refueling management, from tank to wing, while also reducing the of costs of providing world class aircraft refueling services to airlines and fuel companies resulting in increased business opportunities to BAFS and other interested aircraft refueling service providers.
“Applying digital transformation technologies such as enterprise process management software, AI and Blockchain simultaneously with design thinking concepts to analyze the pain points and use cases of companies can significantly optimize workload and reduce operational errors. This, in turn, improves the decision-making process contributing to more effective, agile, and resilient operations, maximizing value for customers and setting higher operational standards to better tackle challenges in a fast-changing global environment,” concluded Mr. Gritt.