Block, Inc. – Digital Transformation Strategies
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Block has been focusing on AI and machine learning technologies as a part of its digital transformation strategies. The annual ICT spending of Block was estimated at $2 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Block Inc (Block), formerly Square Inc is a financial technology company, specialized in providing payment processors and point-of-sale (POS) solutions for merchants. Its POS solution provides payment, reporting and analytical, payroll, and customer engagement tools to manage their bill payments, employee recruitment, employees working schedules, payrolls, sales, and promotional activities.
The Block Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
In line with its digital strategy, Square is banking on AI and ML techniques to utilize data that it collects from its services and businesses. It uses ML models such as credit algorithms to analyse the transaction data of small businesses that use Square to collect payments and determine loan eligibility. Square has deployed machine learning across risk management, sales, marketing, analytics, and customer support.
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Block Technology Theme Focus
Block is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud computing and payments to improve operational efficiency and enhance customer experience.
Block Technology Focus
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Block Technology Initiatives
Block has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, Square collaborated with Fobi AI, a provider of real-time data analytics by leveraging artificial intelligence to drive customer activation and engagement. Fobi platform will be integrated with Square, to provide Fobi app on Square App Marketplace for businesses of all types and sizes. With this initiative, Square aims to work with Fobi to offer its sellers with valuable data and real-time insights to start, run, grow, and adapt their businesses.
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Block ICT Spend by Function
- Data Center
- Communications
- Network
- Applications
- End-user Computing
- Service Desk
- Management
Block ICT Spend by Function, 2022
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Block ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
Block ICT Spend by Channel, 2022
For more insights on ICT spending by channel, download a free report sample
Block External ICT Spend by Segment
- Software (including Cloud SaaS)
- ICT services
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
Block External ICT Spend by Segment, 2022
For more insights on external ICT spending by segment, download a free report sample
Block Digital Transformation Strategies Overview
Total ICT Spending 2022 | $2 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud Computing and Payments |
This report provides:
- Insight into Block’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Block’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Block in 2022?
The annual ICT spending of Block was estimated at $2 billion in 2022.
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What are the key ICT spending categories by function for Block?
The key ICT spending categories by function for Block are communications, data center, network, application, end-user computing, service desk, and management.
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What are the key ICT spending categories by channel for Block?
The key ICT spending categories by channel for Block are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
-
What are the key external ICT spending categories by segment for Block?
The key external ICT spending categories by segment for Block are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
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What are the key technology themes in focus for Block?
The key technological theme in focus for Block are artificial intelligence, big data, blockchain, cloud computing and payments.
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