How digital resiliency and agility augments business growth and profitability
Businesses can achieve growth, transformation, and sustainability with resilient and agile business processes. In a roundtable discussion, business experts focused on purpose-driven and adaptive practices for business augmentation.
“Customers must adapt or partner with technology providers having resiliency and security as their core offerings. A platform that provides technology services must incorporate building business models, feasible to quick changes, and agile enough to maneuver/outmaneuver,” said Kunal Mathuria, Director, Specialist Management - Migrations & SAP, Microsoft.
Kunal was speaking at a roundtable discussion titled ‘Driving growth through resilient and agile businesses’, co-presented by Microsoft and YourStory, to discuss imperative practices to make business processes and infrastructure agile and resilient.
Digital resiliency and business priorities
Companies are reinstating critical operational activities and procedures to prioritise continuity and viability. Dhruv Dewan, Co-founder, Thrive, laid emphasis on understanding the goals, agility, and growth with a digital-first approach. Thrive believes in building customer loyalty, customer retention, and collecting their feedback to improve delivery services. “We can create a technology spectrum, communicate in a team, have measurable and added values within a system with the right tools and products,” he added.
“Champion the diversity in the face of adversity,” said Gaurav Padiyar, Founder and CEO, Bingage. While agility is the need of the hour to grow faster, resiliency within the organisation is important to stay ahead of competitors, scale faster, and expand at a large scale.
For Khushi M, Co-founder and COO, VasyERP, businesses run on three Ms – money, mind, and machine, i.e., money to expand innovation, mind (workforce) to organise data and transactions of enterprises, and machines for the growth of organisations. She spoke briefly about machines as digitalisation and mind and money for business growth, expansion, and sustainability.
Nimesh Mehta, Founder and CEO, Rockmetric highlighted that resiliency ensures business continuity, stability, and growth. He prioritised stability over resiliency and scalability of business in the particulars of talent, technology, and processes.
Swati S, Founder and CEO, MiClient highlighted the importance of prioritising customer engagement, employee management, and vendor relationships. And, according to types of business and employed technologies, she communicated about innovations, digital disruption, and cybersecurity rather than making digital resilience an essential priority.
Agility for business infrastructure
Dhruv mentioned key areas to focus on such as identifying areas of improvements in existing business infrastructure, strategies to retain customers, appropriate approaches to survive and thrive in unpredictable circumstances, and more. He also talked about ‘marketing automation tools’, ‘product-led approach’, and ‘SaaS platform’ to scale businesses.
Rockmetric’s Nimish talked about how the company builds intelligent platforms, delivers in-depth insights at scale and offers business value, and lasts business impact. He also discussed three trends associated with digitalisation – first is data-driven platforms to drive productivity and target audience; second is man, money, and machine as pointed out by VasyERP’s Khushi; and third is investing in cloud services, data pipelines, and technology [data analytics] to upgrade infrastructure.
Gaurav talked about machine learning to obtain actionable intelligence helping to run personalised campaigns for huge ROI. For SMBs, Bingage develops algorithms to examine different types of data for customised products, services, and perosnalised campaigns for recommendations.
With companies using multiple tools, preparing different quotations, sending out emails, managing excel sheets, etc, MiClient provides robust support by developing CRM platforms to manage everything in a single place.
To throw light on how VasyERP helps businesses and improve productivity, Khushi revealed, “We deal in two segments – Retail ERP and Enterprise ERP. To manage transactions, sales, purchase, deals, etc, retail ERP includes different modules such as self-kiosk, omnichannel, e-commerce, multichain solutions, and Enterprise ERP deals in understanding obstacles of manufacturing units, HR management, sales, purchase, accounting, marketing challenges, etc.”
Speaking on how Microsoft’s solutions are in sync with business requirements, Kunal spoke about their strategies to support business transformation and achieve their goals. At Microsoft, there are different teams of architects and specialists who work on a variety of solutions and services [consultative approach] from the portfolio of Microsoft Technologies.
Investing in digital tools
In order to stay ahead of the competition, companies strive to achieve strategic outcomes, and one of the best ways to do this is to invest in digital tools for security and real-time connectivity.
“Collectively, connectivity increases efficiency, we implemented OKR (objective key results) activity to make employees understand the objectives of organisations. With certain tools, we set goals, make informed decisions, and have independent teams within organisations,” said Dhruv.
To stay ahead of the game, Nimish spoke about innovation, bringing modern technology and competing with global players. He explained that communication, collaboration, documentation, and coding are critical drivers for digital innovation alongside data security and services.
Gaurav shared his approach as product, team, and action for data-driven decisions when any disruption happens. According to him, investing in digital tools are necessary to be agile and flexible, and to control work management and accountability.
While VasyERP’s Khushi added notes on the necessity of digitalisation and automation in businesses to better prepare and absorb radical market changes, MiClient’s Swati suggested employee automation processes. According to her, innovation is an effective tool in digital culture and how the company provides funds and time to employees to build small applications that benefit the company’s overall growth and sustainability.
Speaking about the requirements of cloud providers for automated services, Kunal mentioned, “Organisations must know when to go digital, partner with the right technology provider offering resilient, scalable, and flexible cloud solutions and services. To sustain against uncertainties, you must have access to platforms, for example, Microsoft Azure, that incorporates everything such as security, resiliency, confidentiality, and data access to better respond to uncertain future events and be able to build effective digital journeys.”