Remaining competitive and relevant with enhanced technology adoption


Remaining competitive and relevant with enhanced technology adoption

Dr. N Raveendran, VP – Enterprise wide solutions [CIO], Sakthi Finance  


Technology blueprint for year ahead
If technology projects are well conceived and designed to fulfill the intended purpose with management’s buy, half of the success is ensured. Here, the objective of the project, benefits to be reaped, cost, timelines etc., are well established. Selecting the right product/solution, project management, thorough testing, change management, training and post implementation support would ensure the rest of the success.  Having a separate team formed for the technical projects with the constitution of the right mix of functional and technical members, the belongingness of the project during and post execution is well ensured.

If the project is well executed, the obvious benefits like process/productivity improvement, cost reduction, and customer satisfaction would get automatically achieved.

In 2023-24 the focus areas are enhancing the Customer excellence, people excellence, process excellence and strengthening the Digital security and compliance areas using proper approaches and technologies.


Latest technologies influencing growth
As an entity regulated by RBI, to fulfill the CFSS – Core Financial Services Solution requirements, we are poised to adopt the technologies under Cloud, Mobility, Data Analytics [AI/ML] though we have the basic solutions like ERP, HRMS, CRM are in place. 

Employee First and People First initiatives being undertaken by us through a project named ‘Swaraj’ would obviously reap the expected benefits in terms of growth in operations and revenues. Strategy wise, horizontal and vertical based business expansion is being undertaken for better growth.


Fortifying organization from cyber threats
Information security is the integral part of our/any business with perennial measures and dedicated focus. Though RBI recommended directives were implemented and being adhered to, we went extra miles by implementing ISMS – Information Security Management System and recently obtained the ISO 27001 certification. 

We strongly believe, adhering to the established policies, processes, Standard Operating Procedures with clear evidence would support to sustain and enhance the security measures. Creating awareness among all the stakeholders is very critical with reference to Information Security.  We are also on the verge of forming a SOC – Security Operations Center to centrally monitor the Security related controls and measures dynamically without giving room for any slip-overs or incidents.


Digital technologies aiding to win customer trust
Digital mode of marketing initiatives is being undertaken to expand the geographies and also to touch the younger generation or the so-called millennials.  Reducing the TAT – Turn Around Time of the services is the critical USP now to achieve and sustain the relationship amidst heavy competition.

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