India’s IT services sector is currently undergoing a transformative evolution: Shreeranganath Kulkarni, MD, InfoVision
In a candid conversation with Shreeranganath Kulkarni, Managing Director of InfoVision, we delve into the company’s perspectives on the evolving tech landscape, its growth strategies, and its commitment to guiding enterprises through the challenges of becoming truly data-driven.
Some edited excerpts:
What are the top priorities and strategic initiatives for InfoVision’s future growth?
At InfoVision, our growth strategy is founded on three strategic pillars (Customer-centric growth, unified alignment, and talent excellence) that integrate seamlessly with our core values (Put customer first, think like an entrepreneur and Be agile). At the core of our operations are our customers. Our focus isn’t solely on technology or on ourselves, but primarily on addressing our customers’ unaddressed needs and elevating the standards of service and experience they receive.
Today’s focus on Data-driven Digital Enterprises and future readiness is intriguing. Could you elaborate on the strategies enterprises can employ to ensure that they are equipped for the evolving technological landscape?
In the rapidly changing digital arena, future readiness hinges on understanding and anticipating customer challenges. Beyond merely reacting to immediate demands through RFPs, the essence of staying ahead lies in anticipating customer needs. By adopting a proactive approach, businesses can offer visionary solutions tailored to emerging voids. Embracing digital transformation and fostering continuous innovation are crucial. While integrating new technologies ensures alignment with customer expectations, a culture of innovation guarantees resilience against market shifts. But speed must be complemented by quality. Balancing agility with excellence instills trust and ensures lasting customer satisfaction. In a globalized world, harnessing diverse talents across regions amplifies a business’s capacity to deliver. Staying attuned to market trends and building strategic tech partnerships further bolster a company’s position, ensuring not just adaptability, but leadership in the digital future. This is the approach that has helped us grow, build trust, and become a value creating partner for our customers’ business enterprises.
Can you elaborate on some of the key global trends?
In today’s rapidly-evolving global tech landscape, several transformative trends are spearheading innovation and driving unprecedented change. Primarily, Artificial Intelligence (AI) and Machine Learning (ML) are steering automation and data analytics, while the Internet of Things (IoT) is catalyzing smart interconnected solutions. The rollout of 5G promises to redefine connectivity, and in response, cybersecurity is making strides to safeguard this digital expansion.
On another front, Quantum Computing is heralding a new era in problem-solving capabilities, and immersive technologies like Augmented (AR) and Virtual Reality (VR) are reshaping how we perceive and engage with the virtual realm. Furthermore, there’s a clear global pivot towards sustainable technology and eco-friendly practices, emphasizing our commitment to a greener future.
Two trends catching significant global attention are Generative AI and the Metaverse. Generative AI, with its myriad applications, has the potential to add trillions in economic value. Meanwhile, the Metaverse promises a new paradigm of immersive digital experiences, with businesses projected to heavily invest in this convergence of enhanced reality.
Other notable trends include the rise of Industry Cloud Platforms (ICPs), catering to sector-specific needs, and the focus on Platform Engineering to optimize the developer experience. Both are anticipated to be widely adopted by enterprises in the coming years, highlighting their role in shaping the future of technology.
Collectively, these tech trends signify not just the direction in which industries are moving but also underscore the limitless potential of technology to sculpt our tomorrow.”
What are the challenges for enterprises to become truly data-driven?
In the quest to become data-driven, enterprises grapple with several hurdles. Foremost is the deluge of data from varied sources, making its integration and storage intricate. Once harnessed, ensuring data accuracy is crucial as customer-centric decisions hinge on its reliability. With vast data comes the need for advanced analytics to distill actionable insights, requiring both cutting-edge tools and adept teams. However, tools alone don’t suffice; aligning insights with business goals is essential to truly cater to customer needs. Amidst these operational challenges, data security remains paramount, especially in an era of heightened privacy concerns. Beyond these, the overarching challenge is cultivating a data-centric culture. Embracing data across organizational levels ensures insights are not just generated, but also implemented, fostering improved customer understanding and more informed decision-making.
How can you help enterprises overcome those challenges?
InfoVision is strategically poised to guide enterprises in their data-driven aspirations. A primary concern for many is cybersecurity. Addressing this, our ‘Enterprise Cybersecurity & Risk Services’ (ECRS) team, comprising cybersecurity experts, offers tailored solutions such as the award winning first packet authentication zero-trust model. This forward-thinking approach ensures we don’t merely react to threats but proactively guard against them. Adding depth to our cybersecurity suite is our Managed Detection and Response (MDR) capability, allowing for real-time threat detection and response.
Further, to harness data’s transformative potential, our social media research and analytics division dives deep into digital landscapes. The consulting based approach focuses on research based insights that fuel data-driven decisions, positioning enterprises for accelerated growth. From laying the foundational data strategy to ensuring its impeccable quality and insightful analytics, our services encompass the entire data spectrum.
What are the latest trends in the space of IT services in India?
India’s IT services sector, is currently undergoing a transformative evolution, backed by several pivotal trends that underscore its global prominence. With a commendable achievement of $227 billion in revenue in FY22 and a trajectory aiming for $350 billion by 2025, India firmly establishes its dominance, accounting for a significant 59% share in the global sourcing arena.
Key technological advancements such as Cloud Computing, Artificial Intelligence (AI), the Internet of Things (IoT), and Blockchain are acting as the catalysts. The growth of AI is particularly noteworthy; as per the recent AI adoption index by NASSCOM, investments in this domain are projected to soar to $881 million by 2023, exhibiting an impressive CAGR of 31.8 percent. Such a surge in AI is poised to infuse about $500 billion in value by FY2026, predominantly influenced by sectors like BFSI, CPG and retail, healthcare, and industrials.
The burgeoning metaverse sector, with a forecasted growth rate of 37.1 percent and an estimated valuation of $758 billion by 2026, further cements India’s position as an IT juggernaut. Here, the anticipated advent of Superclouds is a testament to the industry’s agile adaptability, especially given that a dominant 84% of Indian enterprises are tilting towards the hybrid multi-cloud model, emphasizing their penchant for adaptable solutions.
Further, the looming introduction of 5G promises a paradigm shift in operational connectivity and efficiency. Coupled with the government’s proactive initiatives like “Digital India” and “Make in India”, which are magnetizing both domestic and international investments, the future looks promising. Gartner Inc.’s prediction of a 2.6% annual increase in India’s IT spending by 2023 epitomizes this optimistic outlook, marking an era characterized by unparalleled innovation and expansion in the Indian IT services landscape.
Where do you see the company 5 years from now?
Five years from now, we envision InfoVision as an integrated partner, rather than just a service provider, for businesses globally. It’s our aspiration to be closest to our customers, truly embedding ourselves within their ecosystems. We aim to understand and anticipate their pain points, challenges, and aspirations. This deep integration allows us to bring forth solutions harnessing both established and emerging technologies, tailored to their precise needs.
Central to our vision is co-innovation. We believe in walking hand-in-hand with our clients, testing, failing fast, and refining, until we arrive at solutions that cater to both present requirements and future projections. This isn’t about showcasing our prowess but about ensuring our customers thrive, capitalizing on our combined strengths.
Three main pillars will guide our journey:
1. Co-innovation and growth: Our growth trajectory is not just about our expansion, but about evolving in tandem with our customers. Through collaboration, agility, and a mutual “fail fast” mindset, we’ll continuously shape solutions that resonate with market demands and our clients’ unique challenges.
2. Customer-centric alignment: We’re dedicated to syncing our strategy and execution around the customer. By ensuring our teams are unified in their mission of ‘accelerating digital transformation for customers with agility and integrity’, we’ll better tackle the multifaceted challenges they face.
3. Empowered talent: Our team is crucial to realizing this vision. As we sculpt the future of digital transformation, our people will champion this change, underscoring the importance of nurturing and retaining the brightest minds.
Our goal is to be more than just a technological entity; we want to be an essential part of our clients’ success narratives, making a distinct difference by aligning closely with their missions.