Wirot Sirirattanarak leads the IT Total Solution team to create AWS to invade mai in 2024.
Wirot Sirirattanarak
Advance Web Service Public Company Limited
Raise the IT Total Solution army
Build AWS to enter mai in 2024
“AWS's business model is to be a B2B2C technology service provider, focusing on creating tools for entrepreneurs. Using an Innovation Based thinking method that aims to solve problems in everyday life. and bring that service out to businesses So that businesses can provide better service to customers.”
It is considered a company worth keeping an eye on. With a new tech stock like AWS, which started to raise funds on the LiVE Exchange trading board for the first time, officially starting its path to becoming a listed company on the stock exchange. Interestingly, AWS is not a tech startup in the way that many people understand it. But it is an SME business that has the full DNA of a Tech Company. Throughout its 15-year journey in the business world, AWS has used an Innovation Based concept to create solutions that solve Pain Points for many businesses. Since the mobile top-up system Ticket booking system to the development of Blockchain use cases
bank finance Had a special interview Wirot Sirirattanarak Chief Executive Officer of Advanced Web Services Public Company Limited or AWS Regarding the origins of the founding of AWS and the technology business path with more than 15 years of experience, views on raising funds on the LiVE Exchange board, as well as the goal of raising funds on the mai market in 2024.
Starting a business with the concept of Disrupt
Using the B2B2C model to support Thai businesses
Wiroj began his interview with bank finance Regarding the idea of AWS company, after graduating from the Faculty of Engineering, he discovered that he had a passion for innovation and technology. Therefore began doing various businesses related to digital technology. As for AWS, the company name comes directly from Advance Web Service, which was established in 2006. The business journey began 15 years ago with the product that was born: “Siam Topup brand mobile top-up system”
The year 2006 was considered a period when the prepaid mobile phone market was in a very prosperous era. Most top-ups are made using prepaid cards. What AWS did that day was to disrupt the top-up market by being the first to develop a top-up platform that connects directly to the back-end systems of operators including AIS, dtac and True for merchants Mobile top-up shop Top-up services can be provided to customers through a web page, eliminating the need to stock pre-paid cards, while operators do not have to incur costs in producing pre-paid cards.
“AWS's business model is to be a B2B2C technology service provider, focusing on creating tools for entrepreneurs. Using an Innovation Based thinking method that aims to solve problems in everyday life. and bring that service out to businesses So that businesses can provide better service to customers.”
Wiroj continued to show the picture: From the success of Siam Topup, AWS has expanded its business in many ways over the past 15 years, including developing automatic top-up machines under the Kapook Topup brand and accepting systems for top-up machines of other brands in an OEM manner, including opening APIs for other businesses. Any other Can connect to use AWS's Gateway service.
“In the past, connecting back-end systems to each operator was very complicated. And there are also many factors that must be taken into account. including stability, limitations, and monitoring. Therefore, other brands choose to use the API connection service with AWS to reduce limitations. and the complexity of the back-end system.”
Currently, the average annual transaction value on the AWS Gateway system is approximately 1,000 million baht, coming from many services. Including mobile top-up, Wallet top-up, and utility bill payments. There is a customer group that is mostly SME entrepreneurs who are service representatives all over the country.
Wirot further said that AWS also has a business in the area of IT Solutions in the Online Platform area. In 2012, it began to develop ticket reservation and distribution systems for many football clubs. Under the brand name “WELOVEBOOKING” Allows printing of tickets at the point of sale. Tickets can be checked at each entrance gate. And there is information stored in the system for reporting to executives. Including being able to connect with accounting systems and other systems. Later there will also be extensions to the museum group. Other tourist attractions as well
Currently, AWS has developed WELOVEBOOKING in the form of a Cloud Base by creating sub-modules in the form of Micro Services in order to quickly respond to the needs of customers in each type of business. and allows businesses to have their own additional distribution channels online, such as Line Official Account or on their own website in the form of e-commerce.
In 2018, AWS was also one of the first companies in Thailand to develop Blockchain for use in verifying transactions within the company. It is the development of the Hyperledger platform to create its own Private Blockchain system to increase the reliability of AWS Gateway before using the knowledge. Continuing to develop the system Various E-Certificates and Loyalty Programs, including Blockchain development for agencies that want to increase their credibility. in the present as well
“We are now looking at expanding the electronic ticket system for customers. which is currently easily counterfeited by using Blockchain to make tickets in the form of NFT Ticketing and can be stored on Blockchain Wallet such as Metamask or other wallets as well.”
Wirot further projected that AWS is also penetrating into the vending machine business, offering machine design and procurement services. Ready to develop management software You can also add new features. into the cabinet to add interest. Currently, there are entrepreneurs Many brands choose to use the platform and vending machine services from AWS because they have accumulated knowledge in software development over a long time. which can be used together with various systems that AWS has developed, such as membership systems and points collection systems Or even a random product system (Gashapon) can be used to upgrade all automatic coin-operated machines.
Trade on Live Exchange
Aiming at Level Up, raising the business level
Wirot said Based on the knowledge accumulated over the course of 15 years in business, AWS is beginning to look at raising large-scale funding. Because they want to access innovation and new technology. Including research and development that has high costs. In addition, they want to push themselves to be known more widely in order to increase their credibility in participating in big projects. as well as increasing internal resources to be more strong This is the source of funds raised on the newest trading board, LiVE Exchange, developed by the Stock Exchange of Thailand. and the Securities and Exchange Commission
“We view LiVE Exchange as a Spring Board that helps shorten the time it takes for small businesses to reach mai faster. And even though we are the first to trade in this market, we are not worried. Because we are already prepared. And being the first is also considered to be one of the inscriptions in the history of the Thai capital market.”
The advantage of Live Exchange is that investors come to trade. Must be a major or institutional level person only. Investors in this group already have investment knowledge. With the relaxed conditions from mai, LiVE Exchange has higher risks for investors. Therefore, the investors who come are those with investment knowledge, not general retail investors. To prevent various risks
Wirot also said that From the perspective of SME companies that want to raise funds If funds are not raised through the stock exchange It may be used to raise funds through Venture Capital, which has a process of due diligence that takes a long time. As a result, the company may lose benefits and opportunities to move forward with its business. But entering the market is governed by standard rules from the SEC. Investors who want to invest must pass the SEC's criteria as well, making the process between them not difficult and no one having an advantage or disadvantage over the other.
Wirot revealed that AWS's business plan in 2023 will focus on expanding its business in the automatic coin vending machine group. Increase the functions of the machine to support needs in many areas. In addition, it will elevate the brand. WELOVEBOOKING to WELOVE NFT along with developing the use case in the WEB 3.0 perspective. In addition, the company's IT infrastructure will be developed. In order to accommodate a more diverse group of customers.
Currently, business organizations and SMEs have a need for Digital Transformation. and want access to cloud infrastructure but are still constrained by high costs And some businesses may only need a small amount. Will look for ways to reduce this cost, such as sharing with others. Or choose to use a local service provider. AWS plans to expand its infrastructure to support more customers in this group.
As for the original AWS business model, it was based on individual services and designs. But in the future, there are plans to expand the business model in the form of renting more platforms because most of AWS's customers have expertise in product development and marketing. And some customers do not want to invest in the entire system. Because it was more than necessary, AWS saw a way to develop a platform to rent out instead.
“We have not stopped accepting large projects. But will be adjusted to be more consistent with the new guidelines. It may be designed as a long-term job that generates stable income instead. A monthly fee is collected from customers, similar to subscriptions and leasing. The customer does not have to pay the full amount from the beginning. The principle is that if AWS can structure it well, Customers can use it to generate additional income. Then take that income and share it back with AWS, which is a win-win for both of us.”
Targeting to enter the mai market in 2024
Aiming to invade the Carbon Credit business
Wirot said AWS's next goal is to file for funding in the mai market by 2024, by which time AWS will be a company with multiple business models. Including services to support the global trend that emphasizes more sustainability. They look at services related to Carbon Credit because there is an opportunity for AWS to use its technology knowledge. and the development of software that can be further developed In addition, in the future, organizations listed on the stock exchange will begin to pay more attention to this matter. Just like in the past, organizations had to have ISO standards supporting various aspects.
“We aim to be a total solution provider in the field of Carbon Credit for business organizations. and will increase the role of being a consultant To help organizations choose the right software and tools, this is the goal we are trying to achieve before submitting files to the mai market in 2024.”
The long-term goal will continue to be the B2B2C business model because AWS is an organization that likes to solve problems for business organizations rather than selling products directly to consumers. Therefore, regardless of whether the business model is expanded. How far do you go? The business concept will not change. Because they believe that if the domestic business sector is strong and SME companies can establish themselves well The country's business structure will also improve.
Wiroj continued: In terms of income, AWS aims to reach 2024 million baht in revenue by the end of 300 in order to prepare for filing with mai. The business that is expected to be the "hero" in 2023 is the automatic coin vending machine business. and ticket booking platform WELOVEBOOKING Because these are businesses that benefit from the tourism sector, it is expected that these two businesses will account for up to 2% of the company's revenue.
While other businesses It will be managed according to the situation. For example, Blockchain or Carbon Credit businesses are considered businesses that are at the beginning of the mainstream. That may take another 2-3 years to become widely used for business organizations.
Follow the People column in the January 2566 issue of Finance and Banking Journal, Issue 489 in digital format: https://goo.gl/U6OnIi
