Both Jewelry Industry and Healthcare Industry are very traditional businesses and relying on a lot of personal/professional trusts and manual paper works to fulfill the current operations. Megasoft Ltd (known as Myndar) had revolutionized both industries by defining the Smart Retail 4.0 and Smart Healthcare 4.0 respectively to coincide the “Industry 4.0” defined by German Manufacturing Standard.
Megasoft contains 4 BUs (Business Units) - Retail, Healthcare, Logistics and AI/Robotics.
Megasoft had developed its own patented IoT solution “MyndSCAPE” platform for Jewelry Industry, covering RFID based warehouse automation, distribution automation, production, security, smart retail operation, AI and BI etc.
Megasoft had developed its own patented IoT solution “MyndCARE” platform and offering 16 different applications in Healthcare Industry, and has also developed its own patented IoT solution “MyndVIZ” platform for Critical Logistics including Cold Chain Logistics. Their complete suite of solutions are extremely unique and no one had entered these markets before with such unique and latest IoT (Internet of Things) solutions to address all the customer’s pain points and to help them to develop the 4 major pillars based on the IoT initiatives: 1) Digital Transformation; 2) Robotics &Automation; 3) Consolidate and integrate the IoT wireless platform; 4) Create new processes and new applications.
Creating Unique Solutions
In 2017, the Hong Kong Hospital Authority (HKHA) was looking for a new technology solution to address the problems they had in drug refill operation for chronic patients who visited hospitals regularly for repeated prescriptions. Due to the increased demands and the 25 years old manual system, the patients might have had to wait up to 3.5 hours for their prescriptions and the staff was very frustrated with the old manual process which prone to human errors and lack of efficiency. In 2018, the company delivered their 1st solution which was an IoT based DRMS to HKHA and it was proved extremely successful.
Megasoft had literally pioneered such solution in the world and subsequently it has been implemented in many top hospitals in Hong Kong. It was their first project that addressed the challenges in the healthcare industry. Based on their first success, the company went on to implement numerous different solutions to HKHA in 2020 such as Smart Cabinets for Drug Management, Human Specimen Management, Senor Technology and Assets Management, to name a few. Megasoft has identified numeorus pain points inside hospitals and discovered new opportunities by developing different IoT patented technologies to address all the legacy problems. Today one can say that within less than 3 years, Megasoft is making a big transformation in healthcare industry and became a market leader in IoT technology in this arena.
It is pertinent to mention, Megasoft has built a strong R&D team and has accumulated decades of experience in latest wireless technologies that are RFID, Bluetooth, WiFi, 4G/5G and LoRa, to name a few. Megasoft believes in constant innovation and creating a “Blue Ocean” for one particular industry. They had recruited many talents in multi-level experiences who were capable to build the solution from the ground zero, as from IC/chip level to a module to a senor/device to an application to a platform to big data analytics to AI/Automation. This is one of the company’s key factors of success – “The Depth of Technology” and “The Breadth of Application”in one particular industry. Hence, they do not have serious competitions due to the facts that they are the “first mover” as pioneer with many patented technologies.
Towards the Future
Megasoft always started off with a single pain point of a particular industry and then developed an innovative solution to address that particular pain point and resolve the problem, and convinced the client to adopt the new innovation. Once it was proved successful, the company moved on to look for other pain points and new applications within that particular industry with a holistic approach, building new devices, new application software, a common wireless network and a common data platform under one roof—creating a new unique ecosystem for the entire operation. “It is hard for competitions to enter such ecosystem and with our constant innovations and quality of our services, we have become a strong leader in the industry and also being the Best and Profitable Companies in 2020 despite the COVID-19 and Hong Kong Unrest in the region. It is a remarkable success during such difficult time,” says Dr. Matthew Man, President & CEO of Megasoft.
Megasoft will continue to develop more new applications for Jewelry, Healthcare and Logistics Industries, for the next 5 years. The company will open more new offices in different regions to offer it’s IoT solutions to capture a bigger market and build a scalable business across different regions in Asia Pacific, USA and Europe. Megasoft will leverage the AI, Blockchain and Robotic technologies to develop further in new applications to help their clients to stay in the forefront of technology and grow their businesses further globally.