India’s Technology Opportunity by 2022- Transforming work , empowering people

Tech Innovation has proven a boon in Pandemic. CIOs & Technology Executives are busy increasing the company’s initiatives that unlock value. In a way, the coronavirus-driven pandemic has also greatly influenced the technology industry. Industry leaders are missing out on global technology opportunities, delayed launch of new products, and inflationary risks.

In our 20th Inflection Tech Innovation Web Conference & Awards top technology leaders came together to add their value to the forum. The panel started with the moderator Anand Sharma (Asirvad Microfinance Limited) introducing his co-panelists Rohit kilam( Adityabirla), Puneet Kaur Kohli (Universal Sompo General Insurance Co. Ltd.), Ravinder Bhardwaj ( HDFC ERGO Health) & Dominic Vijay Kumar ( ART Housing Finance)

Anand Sharma stated that like other companies they have also planned their budgeting and other stuff for one year before the financial year start.

• Mrs. Puneet Kaur Kohli said that now everybody is talking about #new normal but the new normal that we anticipated this year was “ work from home” or flexibility to work from home. We have never seen a pandemic in our lifetime .Neither continous work from home is in our policy Suddenly pandemic happened & facilities like laptops, computers and many facilities are given to the employees at their home.
• We should start implementing the digital technologies to get a benefit and capitalize during this time.
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• Rohit Kilam summarized the last six months in a very quick way by distinguishing scenario & saying that we had accelerated our digital journey. There are 4 things we have to pay attention i.e
  • 1. Creating more and more digital scenario
  • 2. How do we automize the operation part ,for eg in financial services?
  • 3. How to reform and digitize the entire contract sector
  • 4. Code Tech that needed to be looked at
  According to him, we created a heat map of all the services that we are offering to the customer. We had to digitize 97% of them in the last 6 months .
• Specialists in handling Infrastructure and Cloud operations Mr.Ravindra Bhardwaj cleared that as many companies in insurance and banking are already in a journey to adopt cloud and many others are on a way to migrating their applications due to pandemic. Strategies have been changed in past six months & now its time to put more and more infrastructure and load on the cloud. Whatever the new applications are coming now we are planning to launch those applications on the cloud only. We are creating a roadmap to get these sectors to migrate on to the cloud. The cloud has its own benefits. Although going forward it will be a hybrid kind of scenario, not a complete cloud scenario because of some limitations on the applications.
• Being a part of the housing finance sector and facing all ups and downs in this sector Vijay Kumar shared that as we are a housing finance company ,basically a rural business where every salesman was personally reaching to their clients living in that area. When suddenly pandemic came it was very difficult to help them. It was also impossible to reach to the clients for the new business. One thing that became important is the collection of money from clients or to make them pay online or through any other mode. Or the other way is to ‘work from home’ where people faced many challenges as everyone did not have devices to do their work. Coping up with the situation, we gradually learnt to deal with it. If another lockdown occurs we should get ready to face it independently and overcome it.

In the end, Mr. Anand Sharma concluded that the whole discussion was on the four main points i.e

• 1. Moving towards Cloud
• 2. Increase uses of Payment Gateways
• 3. Empowering the customer as much as possible.
• 4. Provide devices to employees to work from home.

The webinar ended with the India’s most prestigious BFSI awards ceremony where the top Industry leaders of India got awarded.