Hyderabad, 31st July 2021: The students of the PGDM Executive batch at the Institute of Management Technology (IMT), Hyderabad had the privilege of having Mr. Alok Bose, the Delivery Director for Enterprise Application Services, Infosys, on 31st July 2021 deliver a virtual session on "Improving Operational efficiency in a service-based industry." The session began with a brief introduction of the speaker to the batch, including the various roles he undertook in his corporate career.
Mr. Alok decided to take the students through his real-life corporate experiences to make it an interactive session rather than presenting them with conventional PowerPoint presentation slides and providing insights. He also believes that a collaborative effort is a key to learning what everyone should thrive upon. Hence he began by discussing the significance and methods by which businesses navigate and adapt to an ever-changing environment. He talked about the pre-pandemic era where people were trying to get a foothold of running their company and how the last 16-18 months have been a life-changing experience for all of us.
He shared his insights regarding the tech companies elaborating how they have done the unthinkable. According to his analysis, just 10% of Fortune 500 firms from the 1950s to the 1960s were able to maintain their position until roughly 2017, with five to six of them being technology companies. "This tells us that organizations that can keep up with the ever-changing dynamics of the global environment are the ones that can endure, and their rate of change is much faster than others," as quoted by him.
According to the speaker, innovation is not about practice; it starts at the ground level. It is about ideas that you can take to your clients and act upon them. He emphasized that a company might be strong at problem-solving, but they could be far superior if they could identify the problem before the clients could state their actual business and service requirements. He accentuated that apart from a company's USPs, it is often the cost-effectiveness, pricing strategies, and good profitability that propels the service industry in its future growth and revenue generation. He elaborated that service businesses thrive upon certain crucial factors, including the ability to understand the environment around us and understand the client-side changes such as mergers, demergers & new businesses.
He mentioned that increasing the pace of digitization changes the actual operational efficiency, and shifting the digital infrastructure from on-site to the cloud reduces cost up to 40 percent and drives operational effectiveness in the long run. It also enhances the existing service levels and shifts the financial model from a capital expenditure to an operating expenses-based model. He elucidated that it significantly reduces the requirement of services relating to maintenance of the cloud resulting in increased cost-effectiveness. He also highlighted that the productivity and cost savings achieved from an efficient operation could propel the company's digitization roadmap by increasing the relevance of technologies to be implemented in the future. The session concluded with the speaker summarizing the influence of driving change in service industries to be decentralized by introducing cost-effective programs for sustainable growth.