With a huge acceleration in digital initiatives, global spending on emerging technologies such as AI and RPA, that speed up automation is picking up in a big way. To better understand the shifting landscape in the IT services industry, Express Computer spoke with Kishan Sundar, Senior Vice President of Digital Technologies, Maveric Systems, who shares his perspective on the biggest technology trends that is reshaping the IT services industry, and explains how his company is trying to position itself to take advantage of emerging opportunities
Some edited excerpts:
What are some of the biggest technology trends that you see on the horizon that are reshaping the IT services industry?
Technology these days is evolving at such a brisk pace, enabling quicker change and progress. With that being said, a lot more has changed in the last 18 months owing to COVID-19. It has made digitisation inevitable. In my opinion, Digitalisation , Artificial intelligence (AI), Edge Computing, Customer Analytics and Cyber Security are holding a firm grip. The IT services industry are betting on these technologies for building innovative customer solutions and propositions.
According to estimates, the AI market will become a $190 billion industry by 2025 , that is incredible, while global spending on cognitive and AI systems will reach over $57 billion in 2021 , according to a report published by IDC.
What are some of the biggest lessons from the pandemic for your company?
Adapting quickly in an unforeseen state is the biggest lesson out of Pandemic. And, digital technology has played its vital role in this entire phase. I am sure everyone agrees to this. For Maveric, the first and foremost priority was to find an optimum balance between associates wellbeing and managing client’s project delivery. As an organization who believes in staunch delivery commitment, we were able to able to crack this code in a very short time with a highly differentiated approach.
Our internal IT teams made every single arrangement for our associates to connect and collaborate seamlessly from their remote distributed locations. We made sure our governance processes were streamlined to closely monitor our delivery progress. This ensured a comprehensive level of project transparency across the board. HR teams and Leaders were advocated on supporting and monitoring their teams through constant communication on associates wellbeing.
Purely from a demand perspective, which are some of the hottest technologies in demand today?
The evolution of the relationship between banks and technologies has been rapid. Adopting technologies like AI, Cloud, Analytics and Cyber security will help banks to establish a culture of digital operations and engineering. These technologies are occupying a significant stake in a CIO’s mindshare. If you do study a few use cases on successful digital transformation, you’d exactly know how these technologies have played their parts. We pioneer in the art of banking transformation as a leading player, our teams use these technologies on a regular basis to build cutting-edge solutions to help our customers.
How is Maveric Systems leveraging the power of automation within your own company? Can you give us some examples?
Maveric has been at the forefront of the digital technology revolution. We have been automating many of our internal processes to raise the bar of our employee experience and enjoy the limitless benefits of operational efficiency. For example, our legal team has automated its process flow for carrying out their legal document processing. Traditional legal processes are highly cumbersome and carries a ton of paper based documentation which are often misplaced. Similarly, the IT team is in the verge of rolling out self-healing automation solutions for dealing with quick technical fixes and glitches for associates. As we serve banks, they have also enabled dual security controls with the power of automation, which could intelligently detect potential risks and threats harming our systems. This is extremely critical in a distributed working model to combat the threats of cyber security attacks. Additionally, project teams across our data, digital, core banking and quality engineering competencies are liaising with various automation tools for managing their project delivery efficiently.
How is Maveric Systems positioning itself for the future? What are some of the recent major initiatives taken by your company?
Maveric Systems is going through a radical shift with its 4.0 outlook, which is in line with its 2025 growth mission. This outlook will unfold a new growth journey for the company and enable us to triple our revenues in the next four years. Some of our key goals associated with this program include:
- Gaining leadership through proven solutions for mitigating CXO challenges in the areas of Regulatory Reporting, Customer Experience, Customer Analytics, Cloud Enablement and Digital Operations.
- Be recognized as Top-3, niche, Bank-Tech transformation specialist in retail, corporate and wealth management domain.
- Continuously enhance delivery model, talent nurturing process, and customer-centric culture that assures sharp customer mindshare and builds competitive differentiation.
- Becoming a partner of choice to seven out of the top fifteen global banks and fifteen out of top fifty regional banks and select fintechs
As you see we have a tall task in our hands and these are exciting times for us. In order to support this journey, we are looking to hire 3000+ associates in the next four years. India will be the prime focus here and we are looking to hire across Chennai, Bengaluru and Pune.
Original interview published on “Express Computers”