Technological Change Regulatory Compliance

Technological Change Regulatory Compliance
• Technological Advancement
• E-Business
The impact of new technology on skills needs, work
practices and organisational structures is evident
in all skills reports. Global communication networks
and supply chains, online ordering and technology to
monitor stocks and cash fl ows, and use of the internet
has an impact in different ways across industries, with
advancements driving change in products, services
and communications. These changes result in the need
for continual retraining in new technology and related
products.
E-business is becoming prevalent in government and
large companies. This results in broader and different
customer networks. Global communication systems
change the notion of customer, and reshape supply
chains and service provision. Employees will need skills
in developing online relationships with consumers,
producers and other businesses. Most of the innovation
and business industries have embraced e-business
practices, but internet usage for business is not yet
consistent across industries. The use of e-learning for
training purposes is also uneven.
Information and Communication Technology (ICT) skills
are required at all levels, across occupations. Existing
workers need upskilling in new technologies as they
come on stream. How quickly these requirements can
be refl ected in Vocational and Technical Education (VTE)
standards and programs must be addressed. Small and
medium enterprises’ ICT training needs, including ebusiness,
must be met with programs delivered at times
to suit enterprise needs. VTE teachers’ and trainers’ knowledge of new
technology, and work processes underpinned by
technology must be current and relevant.
To support its activities as a transaction bank and deliver
its services to its customers, industry develops two broad
categories of delivery channels. The brick & mortar
channel consists of the regional offices, main branches
and local branches, where customers are served by
tellers. The virtual banking channel consists of technologybased
self-service facilities where customers can
complete their transactions without the help of human
tellers. The product industry, internet banking and mobile banking fall
into this category.