Today, digitalization has become a necessity for organizations across sectors. Digital Transformation is helping the companies to sustain in the highly competitive market. The decision making process is changed and companies taking help of the next-gen technologies to make faster and better results. Automation in operations is spreading its wings to achieve targeted results. Integrating right automation solutions within the organization is still a challenging task but organizations like Innovsol Systems make it easy for companies. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Dhananjay Nagarkatti, Co-founder & Chief Operating Officer, Innovsol Systems and Technologies Private Limited. He shared insights about company’s performance, solution offerings, growth opportunities and more. Read below the excerpts;
Rajeev: How has been the overall performance of Innovsol so far in the Indian market? How do you see the performance of Innovsol post-pandemic world?
Dhananjay: While we currently have been focused primarily in the Indian market, the overall performance of Innovsol has been has been extremely good and as per our expectations if not better. Digital transformation was helping enterprises reimagine, modify and equip their business processes to meet changing market demands. And then suddenly the COVID-19 pandemic has accelerated the rate of adoption of digital transformation. These enterprises have come to realize that engaging in a digital transformation can help their company become more competitive in their industry. The organization can quickly adapt to market changes and continuously improve business operations and customer experience. Apart from MNCs and large enterprise with whom we were already present, we now see interest amongst smaller organizations.
Rajeev: Can you please tell how do you help enterprises steer through their digital journey?
Dhananjay: Our services for any enterprise embarking on a digital journey have been end to end and can be described in the following stages of the journey:
Visualize > Evaluate > Execute > Manage > Empower
We help them right from initial consulting to delivering and right up to managing the projects for them and as well as training them. Hence, no matter where the enterprise is in its Digital journey we can always come in and assist them in to reach their final goal.
Rajeev: How enterprises are using intelligent automation to drive new growth opportunities? What is the future of this technology in India?
Dhananjay: Intelligent Automation is spearheading a new era of enterprise process automation wherein technologies like robotic process automation (RPA), machine learning (ML), artificial intelligence (AL), computer vision, and natural language processing break down information and process silos. IA tools are used to automate time-consuming, routine business processes, enabling employees to spend more time on cognitive tasks. By freeing-up employee hours, organizations gain efficiency, improve productivity, and save on full-time employees. Like I have said earlier, Covid has accelerated the adoption of these technologies and according to one of the IDC reports nearly half of all businesses in India will implement robotic process automation (RPA) by 2024, and we are seeing this happening.
Rajeev: Which industries do you cater to? How are you positioned currently to effectively manage automation for organizations across these industries?
Dhananjay: Industries across Banking, Insurance, Retail, Healthcare, Logistics, Telecom, and Financial services, have emerged as key adopters of this technology-driven innovation. While we are present in most of these verticals Implementing Intelligent Automation is not easy neither the success is guaranteed. It’s easy to do a Proof of concept or a pilot project, but it becomes increasingly difficult when organization to scale it up. And this is where our past experience of over 5 years comes in handy
Rajeev: What all investment plans do you have to grow your business in year 2022? Please share your set target for the growth in current CY?
Dhananjay: Our FY 22/23 goal is to at least double our revenue from the previous year. We are doing this in a multi-pronged manner from scaling our current technical team where we are investing heavily to getting into newer technologies. While we already have a strong foot hold in the RPA market, we have also forayed into the Cloud technology space with some migration projects and hopefully climb up the food chain in that vertical with some consulting and transformation projects. Additionally we are looking at markets abroad to grow our business either directly or through strategic partnerships in countries of interest.
Rajeev: How do you sell your solutions to potential customers? Please brief about your distribution model in India.
Dhananjay: Ours has been an organic growth where the business has grown through word of mouth of some very satisfied customers. We do not have any particular distribution model as such but we do have some very strategic partners both in India (a couple of Big 4 firms) as well as outside India in the MEA and recently in SEA region.
