“Technology is touching every aspect of the business with speed, agility and efficiency”
By MYBRANDBOOK
Tarun Bali, VP - IT - Beauty & Beyond Skandhanshi Group
CIO priorities for 2022
Over the last two fiscal years, India Inc’s earnings have been a rollercoaster ride. Following a significant drop in earnings in 2020-21 as a result of COVID-induced disruptions, earnings increased in 2021-22 and in fact this will be the toughest and more opportunistic financial year to succeed with bigger innovations, inclusive transformation and people, process and technology alignment.
Below are some of the key priorities that will help us better position ourselves in the face of growing competition.
· Internal Digital Maturity assessment and bridging the gaps
· Creation of data platforms across all functions with 360 degree view
· Creating transparent layer between end consumer and business users while connecting everyone
in the organization with a customer centric mindset
· Development of Hybrid teams both from tech and business to better coordination and ownership
to make stable feature rich platforms.
· Focus on simplicity, transparency, consistency and personalisation across all touch points with
boundaryless departments and functions
Digitization - opportunities galore
Digitalization entails changes in all functions and departments, not just IT. The overall goal is to synchronise people, processes, and the technology that supports and complement each other. One platform and one ecosystem that integrates and collaborates business processes, applications, and infrastructure in line with company vision need to be built.
With a connected platform using an always-on just in time relationship with suppliers and end consumer brands can develop new product lines. IT can impact and automate the entire business value chain right from sourcing, product cataloguing, merchandising, customer interaction, product recommendation and post purchase feedback. Technology is touching every aspect of the business with speed, agility and efficiency.
IT: The Future of India
The Indian IT industry is rapidly expanding and gaining a sizable market share in both hardware and software solutions globally. The Indian government is also investing heavily in smart cities, automation, and digital projects, which will benefit industry multi fold in the future. Every business sector in India is willing to spend more money on technology, and their technology budgets are almost identical to their marketing budgets. Even the government is sponsoring the production of semiconductors, which are at the heart of all automation. This will further encourage greater innovation and have a positive impact on local tech companies to grow globally.
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