Cover Story- Interviews (20-24)
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Bhavin Turakhia
CEO & Co-Founder, Zeta
"Technology at the forefront to save cost, manpower and time in a bid to add more value to people’s lives"
As the ways to do business are evolving across the globe: what according to you is the role of technology?
Scientific knowledge has always been at the heart of business and industry. Even before the existence of technology as we understand it today, progressive minds were busy pushing the boundaries of what was possible. With technology being a much more accessible means today, the goal should always be to radically improve existing ways of doing business and create new ones. It’s this responsibility to add more value to people’s lives that drives today’s businesses. Zeta is on a mission to make payments easy, inclusive and more valuable for corporations, professionals and merchants everywhere in India. Our products are built around the idea that spending and receiving money should be seamless for everyone. We’ve harnessed our technology to create an advanced, digital product suite that remedies the inefficiencies of the conventional way in which salaried professionals receive and spend their tax benefits.It saves our clients' cost, manpower and time.
How tech innovations can change the IT industry?
It’s no surprise that India is the world’s largest sourcing destination for the IT industry. It accounts for approximately 67 percent of the USD124-130 billion market. When you think about the massive implications this has on the world economy, it must also be noteworthy that technological innovation here is continually driving this engine. The more we innovate, higher-order thinking through computer programs will become more advanced. Today we’re getting very advanced in the ways we process data and apply them to decision making. This decision making is done by higher-order thinking computer programs with minimal or no human intervention. The investment in IoT(Internet of Things) and automation is steadily increasing, and this will play an influential role in the future of IT.
Do you see spending on technology and related entries increasing in next three to five years? If yes, by what percentage?
Forecasts by Gartner estimate that in 2017, global IT spending will reach US$ 3.5 trillion. This forecast includes in its net communication services, IT services, devices, software and data centre systems. It is estimated that in the next 3 years this industry would grow anywhere between 1.5 to 2.9 percent.
Pramoud Rao: MD, Zicom Electronics Security Systems
"Tech becomes the key component"
"Electronic security system is closed to a billion dollar and growing"
How is technology evolving with respect to electronic security system?
In 1995 security systems were installed in a standalone mode, a decade later 2015 security started getting involved in a network more. Decades later in 2015 security systems are now moving towards the IOT platform. CCTV systems now prevent crime rather than recording a crime, command stations are mushrooming across the country providing 24x7 security against Fire, Intrusion, and CCTV etc. the adaptation of cloud technology is further accelerating to the growth of electronic security seamlessly holistically.
What potential do you see for security system to grow in India?
Currently the market is growing at a steady rate on 20 %. Thanks to Nil duty on CKD/SKD of CCTV systems, the markets are showing exponential growth. A substantial shift to digital IP video solutions, requirement for scalable technology solutions, improvement in the overall surveillance efficiency & accuracy through innovative technology. Currently the electronic security system is closed to a billion dollar and growing.
What are Zicom Electronic Security systems plans for the domestic market when coming up with new technology solutions?
Zicom is focusing on creating product & services on the IOT platform under the SaaS model. BFSI, Educational institutes, housing complexes, smart cities will be our focused area. With technology evolving everyday we are updating & upgrading our go to market strategy to remain relevant and continue with our leadership.
Nischal Puri
Strategic Consultant Brands, Lux Industries
"Technology won't lead to retrenchment as it has evolved over the years"
What are the new technological innovations taking place in the manufacturing of apparels?
Apparel manufacturing over the last two decades has witnessed substantial new technology infusion. The technological intervention can be broadly classified under two categories:
1. Product manufacturing technology
2. Operational efficiency enhancing technology In the former, technology has changed the face of the industry; innovation in ‘cutting of fabric’ is perhaps one of the most critical one.
Over the last two decades the automatic fabric cutting and fabric spreading technology have advanced and the important touch point here is that the technology has become a bit less expensive. Global corporates have invested substantial research and development dollars in making the auto cutters and auto spreaders more affordable. Besides the cost implication the technology has also reached optimal level of competence.
Another area where advanced technology has developed the sector is the quality and features in the sewing machines. Machines with auto thread cutters with better electricity utilisation have led to a lower operational cost of the sewing machines. ‘Computer aided designing software’ is another technological intervention that has witnessed substantial improvisation and higher efficiency. Better CAD systems have ensured better precision in fabric cutting, besides substantial savings in fabric utilization leading to better quality of the garments and less wastage of the fabric. On the operational efficiency enhancing technology front, one of the most significant technological intervention is the production related ERP systems.
Over the last 10 years many organizations in India varying from 10 Cr to 1000 Cr turnover have adopted various versions of ERP. This has led to better controls in apparel manufacturing operations besides reducing the manpower dependency and errors emerging out of it.
How does the company make use of technology in marketing and supply chain management of their products?
Information technology intervention is one of the most important contributors in driving efficiencies in its operations for the LUX group. All the depots and offices of the group are well connected with each other in SAP and also through video conferencing. Most of the dealer communication across the country happens through sophisticated software. All these help the LUX group to reach its stakeholders in real time.
Mallavarapu Apparao
CMD, Centum Electronics
"Invest more in technology to secure bigger benefits"
As the ways to do business is evolving across the globe: how do you see the role of technology in manufacturing of electronics equipment?
Manufacturing technology is not what it used to be a decade ago. The advancement in technologies with increased automation and software, have reduced human intervention and facilitated in increased speed, precision, efficiency and flexibility for manufacturing. The application of advanced technologies in manufacturing such as, micro-nanotechnology, MEMS Sensors and cloud computing, are changing the face of manufacturing. Though there is a time lag in the application of latest manufacturing technology for Defense and Aerospace sectors for obvious reasons, the general trend has been to use the latest technology to bring in more efficiency and reduce costs.
Is India ready to face the challenges that comes along with adopting new technologies?
Yes. However, the challenges to technology adoption that Indian Industries generally face are high initial investment, inadequate infrastructure, no compelling business reason to implement technology and lack of a skilled workforce. The stakeholders at multiple levels, which is helping the Indian Industries to be ready to face the challenge, are addressing these. The congenial investment opportunities provided in the form of increased FDI, improving efforts (though not at the desired speed) in infrastructure development by the government and its incentive schemes are helping Industries address the challenges. More than anything else, the big market opportunities in India that the world is looking at, is a clear reason why Indian companies invest more in technologies and be ready to reap the benefits.
How has the way of doing business changed for Centum Electronics by adopting new technologies?
At Centum, the mantra has always been the three ‘T’s, Teamwork, Technology and Trust. Centum’s vision is to create value by contributing to the success of its customers, by providing best in class electronics design and manufacturing solutions in high technology area. Towards this, Centum continuously invests in technology and has established a world-class design and manufacturing facility in the Aerospace SEZ in Bangalore.
Navneet Saraf
Director, Technocraft Industries (I)
"New technologies are evolving in construction industry"
What are the new projects your company is getting in the stream of technology?
Technology is a very generic word. We have four lines of businesses, term closure, scaffolding system, engineering services and textiles. In each of these businesses, we are doing initiatives that are very technological. The scaffolding and form works businesses are the main divisions where we have recently come up with products for Indian markets. We have launched our own brand Mac in December. We have been developing and setting products in developed markets such as US and Europe. We have synchronised and introduced them in the Indian market. They make construction faster, slap-cycle in buildings and increase safety in the construction site and reduce costs. We are coming up with various automation products, including factory automation, process automation and material automation. We are reducing cost and increasing yield because of these new products.
Will you throw some light on the company's backward integration?
In scaffolding and form work business, the basic raw material is steel tubes which we make cartels that is our backward integration. We also do hot tip galvanising. We also have forging unit. We have all types of backward integration products right from steel to finished fabricated products for scaffolding framework. In our textile business, we mainly make cotton yarn and have forward integrated to garmenting. The garmenting business is having backward integration to yarn.
Give your geographic segmental business?
We have geographical segmental revenue of 40 per cent from the US, 25 per cent from Europe and 10 per cent from Australia. The company exports its goods to 10 different continents and 40 different countries.
How is the industry heading into the future, considering the evolving new technologies?
In the construction industry, various new technologies are evolving. We are coming up with more automation. At the same time, the industry is becoming labour intensive and availability of skilled manpower is becoming very difficult. The industry is in need of technology which will help construct faster, leaner and better quality with greater amount of safety. So, that is the direction where industry is heading. The company’s products are aligned to these upcoming technologies.