AI and advanced analytics are reshaping the IT industry. These technologies have become indispensable tools for businesses aiming to stay competitive and agile in a data-driven world. Advanced analytics harness the power of data, enabling companies to gain valuable insights, optimize processes, and make informed decisions. There are array of market players offering cutting-edge technology solutions to businesses.
Payoda Technologies is one of the key player in the industry offering tailored solutions, helping them tackle complex challenges and fuel innovation. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Karunya Sampath, Co-founder & CEO, Payoda Technologies. She shared crucial insights about the industry landscape, their business operations and much more. Read below the excerpts.
Rajeev: How AI and advanced analytics are changing the dynamics of solution delivery in the industry?
Karunya: AI and advanced analytics are like the game-changers of our industry. They're turning data into gold, helping us make smarter choices, and giving our customers a personalized experience. Think of it as a turbo boost for decision-making. We're not just guessing anymore; we're using data to steer us in the right direction, making outcomes better and faster. And customers love it! With these technologies, we can tailor solutions just for them, making their experience top-notch. Plus, they're like our trusty assistants, automating tasks and cutting costs. It's like having a super-efficient team working around the clock.
Predictive analytics help us see into the future so we can prepare for what's coming and grab new opportunities. And, of course, security is a top priority. AI is like our vigilant guardian, spotting and stopping cyber threats in their tracks, keeping our data safe and our solutions solid. In a nutshell, AI and advanced analytics are transforming everything. They're making us sharper, more personalized, and better prepared for the future.
Rajeev: How are Payoda technologies helping businesses to dive deep into data dump to create meaningful insights for businesses?
Karunya: Payoda empowers businesses to harness the power of data through advanced analytics and AI-driven solutions. We assist organizations in extracting meaningful insights from data dumps. Through Data Integration we help businesses integrate and consolidate data from various sources, making it accessible for analysis. Our team leverages advanced analytical techniques, such as machine learning and predictive analytics, to uncover patterns, trends, and anomalies in the data. Using data visualization tools to present insights in a clear and understandable format, enabling stakeholders to make informed decisions is another USP.
By providing Customized Solutions, Payoda develops tailor-made solutions that address specific business challenges, leveraging data insights to optimize operations, reduce costs, and drive growth. This ensures Continuous Improvement as we believe in ongoing analysis and refinement, ensuring that our solutions evolve with changing business needs and data dynamics. Our approach empowers businesses to transform raw data into actionable insights, unlocking their full potential.
Rajeev: How did Payoda Technologies come into existence?
Karunya: Payoda Technologies, founded in 2005 by visionary pioneers in the financial services industry in New York, has a unique and inspiring journey. These founders initially delved into the intricacies of the financial sector but soon identified a significant gap and immense potential in outsourcing IT-related services from India. Their entrepreneurial spirit led them to begin this journey in a humble garage, and today, their company stands as a testament to their dedication and innovation. Their vision was clear: to bridge the gap between technology and business challenges. They foresaw the rising importance of data-driven decision-making and set out to specialize in advanced analytics and AI solutions, positioning businesses to thrive in the digital age.
Over the years, Payoda has evolved into a key player in the industry. We've collaborated with a diverse array of clients across various sectors, tackling complex challenges and fuelling innovation through technology. This remarkable journey underscores our commitment to driving transformative change and delivering cutting-edge solutions to our clients, all while embracing our roots in the heart of India's IT outsourcing landscape.
Rajeev: How is moonlighting being tackled at the company?
Karunya: At Payoda Technologies, we recognize the significance of addressing moonlighting, a challenge that can impact employee productivity and raise ethical concerns. We established transparent policies. From the very beginning, employees are introduced to our comprehensive moonlighting policies during onboarding. These policies serve as the guiding storyline, outlining expectations and limitations related to external work. We encourage monitoring and reporting of any moonlighting activities that could clash with their roles at Payoda. Our HR department operates as a discreet platform where employees can confidentially report concerns.
In a conflict resolution scenario, we act as mediators, aiming for a win-win ending. If a conflict of interest arises due to moonlighting, we work closely with the employee to find a harmonious resolution, prioritizing both their pursuits and the company's best interests. Throughout this process, continuous communication is constant. We maintain a culture of trust, fostering an environment where employees feel comfortable discussing potential conflicts or concerns with their managers or HR. Our goal is clear: to strike a balance between personal pursuits and commitment to the company while safeguarding the integrity of our work and relationships with clients.
Rajeev: How was the company's performance in the year 2022? What is your growth / revenue target by this FY?
Karunya: With a focus on Telecommunication, BFSI, Retail and Healthcare, Payoda saw 1.5X Business Growth in FY 2022. Data Analytics, Big Data and Artificial Intelligence were realms where we achieved greater success. We partnered with Microsoft & Databricks, and had a CSAT Score of 9.5. Katral, a platform for all our Learning and Development needs was also launched. We are steadfast on our path to continue growing like this.