In the digital era, data is changing the face of the world. In sync, the Indian market is also expanding rapidly. Be it ECM, BPM, RPA or Analytics – the market is catching up fast with verticals like BFSI, manufacturing, media and government generating a huge amount of data, says Sreedhar Chinnapolla, Chief Executive Officer, MITS, in an interview with Elets News Network (ENN).
- How significant is Enterprise Content Management (ECM)? What are your offerings in this domain?In this digital era, data is changing the face of the world. Today all businesses thrive on data – understanding, analysing and making cognizable patterns out of it. This helps businesses in informed decision making for optimizing businesses processes and improving efficiencies thereby resulting in cost reduction. In addition, Data Analytics are run to understand the customer spend patterns/preferences which help in increasing the market share.Further data is increasing two folds every 18 months. In view of that, it becomes difficult to manage the ever-growing files/documents, images, records, and other forms of data management, which can cause disastrous circumstances for businesses if not handled properly. Despite the best efforts of businesses to handle data, human errors always occur, which can lead to huge loss of revenue/reputation to a company.
ECM helps to gather, preserve, retrieve and manage unstructured documents, images, and other content with the help of designated platforms. As per the popular market research studies, Enterprise Content Management (ECM) market size is valued at $15.33 Billion in 2018. This is expected to grow at a CAGR of 15 percent in the next few years and is poised to reach $ 43.16 Billion by 2026. Hence we see a huge opportunity in this area.
Our expertise lies in consulting, strategizing and implementing a suite of ECM products which include IBM Filenet/Case Manager, IBM BPM, Pega, Documentum, K2, Appian, Alfresco among others. We help customers in System Integration, Platform migration and upgradation, Scanning & Digitization and Cloud Modernization.
2.Tell us about your Cloud Modernization solutions. How do you firm the safety measures associated with it?
Cloud modernization is a useful development in recent times that has come in handy to save IT costs and to improve scalability & flexibility. It helps to rapidly accelerate/decelerate resource utilization based on the business need. MITS offers state-of-art cloud modernization solutions to our customers instead of the generic lift-and-shift solutions. Currently, we are partnering with AWS, AZURE and IBM Cloud to provide solutions to our customers with the help of our in-house expert cloud architecture team. Sometimes it’s not an easy job to move to the cloud when the applications are to be heavily customized or more application-specific configurations are the need of the day. In these scenarios, we analyse with our cloud team to arrive at the appropriate strategy before cloud migration.
Further, with a combination of automation (DevOps) and cloud solutions we are able to generate increased value to our customers by way of scalability, agility, flexibility, efficiency and cost savings.
I feel, security is not a concern on the cloud due to an increased focus on cloud security solutions offered by third parties. So applications and data on the cloud are becoming safer like in traditional systems. Cloud can be made more secure by following various techniques and security configurations. Customers can also choose a hybrid cloud to address their security concerns when it comes to protecting sensitive data.
3. Robotic Process Automation is gaining a lot of popularity lately. What are views pertaining to it?
RPA is a rapid fix solution to business problems due to its quick deployment cycle times, compared with other options such as BPM. Further several industries such as banks, insurance companies and utility companies have been using legacy systems since ages. The key driver for RPA, is that, it can integrate legacy systems and can quickly accelerate their digital transformation initiatives, while leveraging the investments in the existing technologies. The future of RPA however would be much more than it’s current application i.e. liberating human effort from mundane and repetitive tasks across every industry. I see the following trends in RPA in the next couple of years
· RPA adoption will grow across to more industries and domains
· RPA would go beyond task-based automation to include support for more complex processes and workflows.
· Intelligent Automation will be the focus in the immediate future which includes AI, ML, decision making, process mining so that it can result in an end-to-end automation solution.
4.You offer services across the globe. How challenging is India as a market? What opportunities are better here?
I think, the Indian market is expanding rapidly. Be it ECM, BPM, RPA or Analytics – the market is catching up fast with verticals like BFSI, manufacturing, media and government generating a huge amount of data. This requires Document Management, Imaging, Workflow, Content Management, Analytics and Automation – all as a part of rising need in these sectors.
Indian market can be price sensitive in some areas as technology awareness and maturity with customers is high and also several medium scale organizations work under budgets constraints. Of late, however, we are seeing a number of MNC’s bucking this trend. Today we work with some large organizations, who are willing to pay a premium for quality and value. My experience with the Indian market so far is good.
5. What innovations have you planned for 2020?
· We are improving our proprietary RPA framework – a tool neutral platform – by incorporating features of AI and ML to make RPA implementation furthermore efficient.
· We are working on building proprietary scanning and digitization solutions which would cost a fraction of the market popular tools.
· We are building several accelerators for cloud migration, customizable workflows in the ECM and BPM space which are in an advanced stage of development. These should help us by offering a significant reduction in the cost of ownership to the customers while reducing the cycle time.