Digital First Magazine – February 2022 – India Edition – Technology Trends in 2022 by Connecta Innovation

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INDIA EDITION

First Stop for Digital, Technology and Business Insights

Digital First Magazine February 2022

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Digital First Magazine February 2022

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February 2022

Vol - 3 Issue - 2

Technology Trends in 2022 Special Editor in Chief

Dr. Varughese K.John, PhD

Managing Editor Sarath Shyam

Consultant Editors

Dr. Johny Andrews Anuja Mulmule Suchita Gonsalves

Anna Elza Roshni Rajagopal Nikita Thakur

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Art and Design

Ajay K Das Manjunath R Rohith Poojary

Sales & Marketing

Suchithra S Reshma Ashokan

Arati Waghmare Rupali Mohankar

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Digital First Magazine February 2022

Digital First Magazine is a digital magazine published by Connecta Innovation Private Limited. All rights reserved. The opinions expressed in the content are those of the authors. They do not purport to reflect the opinions or views of the Connecta Innovation Private Limited or any of its members or associates. The publisher does not assume any responsibility for the advertisements and all representation of warranties made in such advertisements are those of the advertisers and not of the publisher. Digital First trademark is owned by DFG Digital First Infotech Pvt Ltd. and Connecta Innovation Pvt Ltd. has permission to use Digital First brand name. Digital First Magazine is a Free Subscription digital magazine strictly not for sale and has to be strictly for internal private use only. Publisher does not assume any responsibility arising out of anyone printing copy of this digital magazine in any format and in any country and all matters related to that.

MANAGING EDITOR’S NOTE

What’s Trending in Technology

he world has been talking about the post-pandemic future for a while now. Many countries have lifted most of the restrictions to bring society back to pre-COVID time. It is a good sign for businesses worldwide affected terribly due to the pandemic. Apparently, when one issue subsides, the other pops up from a different corner – a war. You can be at any side of the battle depending on the newspaper you read and the television channel you watch. However, the chaos created by wars affects humanity in many forms, and some changes might be irreversible. One sector making steady progress despite these unfavorable situations is technology. At the beginning of 2022, experts and organizations around us have been talking about the tech trends to watch out for this year. So, why do intelligent leaders

invest their time to find out what’s new in the tech sector? The reason is simple, technology has the potential to revolutionize and reinvent how we do business. If you are a business leader and do not know things like Metaverse, Edge Computing, Hyperscalers, Low-code/no-code, and so on, then chances are there that you might be considered the modern-day illiterate! In the issue, we help our readers understand the latest technology trends disrupting businesses in 2022. The opinions and insights published in this issue are written by tech-savvy industry experts and leaders. We hope that our efforts bring such valuable thoughts would help businesses to grow significantly and individuals to get some remarkable career opportunities in the tech world. Enjoy Reading.

Sarath Shyam

Digital First Magazine February 2022

ADVISORY BOARD

Dr. Kuldeep Nagi, Ph.D, MBA, BSc.

Former Program Director of Ph.D, Recipient of Fulbright Fellowship Award & Dan Evans Award for Excellence and Writer columnist.

Mr. Amulya Sah, PGD PM & IR, PG Diploma in PM&IR (XISS Ranchi)

Senior Director HR. Former Head HR group Samsung R&D Institute India,Transformative HR Leader, Change agent, Digitization facilitator, Engagement architect, Trainer and Diversity champion.

Digital First Magazine February 2022

Dr. Varughese K.John, PhD, MBA, MPhil, MCom, LLB. Former Program Director, MS in Management Program, GSATM - AU

Dr. Ajay Shukla, Ph.D, MBA, BE. Co-founder and Chief Strategy Officer at Higher Education UAE

Mamta Thakur Former CEO (ASEAN), Arc Skills

Mr. Sreedhar Bevara, MBA, B.Com Former Senior General Manager: Panasonic Middle East & Africa, Thought Leader, Speaker & Author of ‘Moment of Signal’ (Amazon’s International Bestseller)

DigitalEducation First Magazine Higher Digest February 2022 November 2020

CONTENTS CONTENTS

IN MY VIEW

TECH TRENDS FOR THE RESTAURANT INDUSTRY TO WATCH-OUT IN 2022 Kumar Vembu, CEO & Founder, GOFRUGAL

3 REASONS WHY ONLINE TRAINING PLATFORMS ARE CHANGING FITNESS FOREVER Ketan Mavinkurve, Founder & CEO, Alpha Coach

CLOUD-NATIVE IS SHAPING THE FUTURE OF DIGITAL BUSINESSES Sunil Krishnareddy, SVP and India Head, Enquero – A Genpact Company

BRANDS’ HEIGHTENED RELIANCE ON EMERGING TECHNOLOGIES, AUTOMATION, AI/ML, AUGMENTED REALITY Piali Dasgupta, Senior Vice President – Marketing, Columbia Pacific Communities

Digital First Magazine February 2022

LEADERS’S INSIGHTS

SHOPPING IN THE PANDEMIC: TRACKING THE PARADIGM SHIFT IN CONSUMER BEHAVIOUR Nishit Nanda, CEO, Consumer Business Khimji Jewels & CEO, youlry.com

SWIFT PARADIGM SHIFT: A REVOLUTION IN WORK CULTURE IN 2022 Gerald Manoharan, Partner, J Sagar Associates (JSA) & Prerana Damaraju, Associate, J Sagar Associates (JSA)

CLOUD ACCOUNTING SERVICES – ALL THAT ENTREPRENEURS NEED TO KNOW! Vikas Chadha, Managing Director, Gl Outsourcing

HOW DIGITIZATION OF KIRANAS CONTRIBUTES TO THE GROWING ONLINE RETAIL MARKET Sridhar Gundaiah, Founder & CEO, StoreKing

Digital First Magazine February 2022

CONTENTS CONTENTS

EXPERT’S OPINION

HOW TO BUILD A SUCCESSFUL FINTECH COMPANY AMIT KUMAR, FOUNDER, GALAXY CARDS

ED-TECH TRENDS IN 2022 KARUNN KANDOI, GENERAL MANAGER & HEAD OF INDIA OPERATIONS, APPLYBOARD INDIA

CUSTOMER SERVICE TRENDS TO LOOK OUT FOR IN 2022 FOR TRAVEL AND LEISURE INDUSTRY PRANJAL PRASHAR, CO-FOUNDER & CEO, XPERIUM

First Magazine 10 Digital February 2022

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EXPERT’S OPINION

How To Build A Successful Fintech Company Kunal Kislay,Amit Co-founder Kumar, and CEO of Integration Founder,Wizards Galaxy Cards Solutions

he FinTech industry has emerged as one of the fastestgrowing industries globally. With new features and innovations, it is still upgrading and bringing disruptive changes in the industry’s transformation. Digitization of banks, mobile payments, digital currencies, online mutual fund investments, etc has given rise to fintech innovation. According to recent stats – India is amongst the fastest growing FinTech sectors in the world and has the highest FinTech adoption rate globally. In addition, the industry was valued at $50-60 Bn in FY 20 which is further expected to cross $150 Bn by 2025. The amalgamation of Financial and Technology seems simpler than it actually is. It is the ultimate innovation in the banking and finance sector. The ecosystem of Indian FinTech has a wide range of subsegments that includes digital payments, lending, wealth and personal finance management, online insurance and regulations. One of the most disruptive innovations in the sector is the Unified Payments Interface (UPI) that has seen a participation of 261 banks with a recorded monthly transaction of 4.21 Bn in October 2021.

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Amit Kumar is a young-age entrepreneur with experience of over 9 years in the IT industry. With his impeccable engineering and IT skills, he founded GalaxyCard in 2018 to help people come out of the social guilt of borrowing money from their friends and family. He believes borrowing from private lending partners or peers is a long process and causes inconvenience in paying back. Thus, he developed

revolutionary

concept of making credit cards

accessible

instantly

through their exclusive app within 3 minutes. Presently, Amit spearheads business operations with his strong IT sense and leadership skills. He is working aggressively on capturing a huge user base in the country in the coming 5 years. Additionally, he is also planning to launch multiple products to expand its reach and dominate the market that’s still unsaturated.

Digital First Magazine February 2022

Considering the holistic scenario, FinTech is largely driven by non-bank entities that are offering solutions to the challenges presented by the traditional financial and banking system. It is transforming conventional value chain, business model and market positioning. Furthermore, it is enhancing customer experiences and expectations by involving a clientcentric approach in the services of the sector. However, the emergence of non-bank entities and digitization of financial services is not that simple. Creating a FinTech company or a startup that can thrive in the market requires in-depth information and a checklist to draw an illustration of market success. Awareness about regulations The banking and finance industries are highly regulated. There are many laws that govern traditional finance as well as the FinTech sector. Laws such as anti-money laundering (AML), Payment Card Industry Data Security Standard (PCI DSS), Know Your Customer (KYC), and The General Data Protection Regulation (GDPR) play a crucial role in addressing opportunities and challenges arising with the adoption of new-age technologies. Thus, it is important to have in-depth information about regulations before starting a FinTech company. Learning about these laws and regulations and how they are going to impact the startup’s business is another crucial point one needs to consider before starting up. Laws can vary from one country to the other and a startup anticipating global reach must apply for required licenses. Identify your niche FinTech is no longer a niche. It is a highly powerful and broad niche market in today’s digitally driven world. It works as an ecosystem offering better solutions in the industry. Whether it is an established financial company planning to move onto digital space or a novice, it is necessary to identify and have comprehensive information about the niche. With the adoption of advanced technologies, several niches have emerged such as lending apps that simplify loan approval and process for customers. Other most popular niches in the FinTech industry are electronic mortgage apps, Insurtech, Mobile banking, personal finance, peer-2-peer payment, trading and investment and crowdfunding. Considering the complex regulatory landscape, FinTech players offering regulatory compliance solutions are also dominating the industry.

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Know your competitors FinTech is expansive and growing at a fast pace, given the multitude of business opportunities. Before starting up, it is imperative to know the competitors as one will be entering the market with existing solutions. However, to be a game-changing startup, the product needs to

FinTech is no longer a niche. It is a highly powerful and broad niche market in today’s digitally driven world

identify certain gaps in that specific niche. On the other hand, if a FinTech startup fails to introduce an innovation but improves the quality of existing products can also prove to be successful. Therefore, it is necessary to study competitors with due diligence to create an incredibly

winning business idea for the customers. This will help in making the product relevant to the target audience and staying ahead of the competition. Build a team Building a team for FinTech is quite a challenging part. It needs the right balance of experts from the finance and technology sector to drive a unique FinTech business. That doesn’t necessarily mean a FinTech startup needs to tempt the best people from established corporates and shell out massive salary packages. Before jumping on to conducting a hiring spree, it is absolutely critical to creating the right hiring strategy. The strategy needs to be adaptive, at the same time innovative to meet the diverse challenges of the market. While FinTech startups with low financial capabilities choose to work with third-party technology experts, app developers, security professionals, etc for a more cost-effective solution. Choose your source of funding Funding for a FinTech startup with expansive business plans initiates a strong foothold in the market. Given the competitiveness of the market, raising funds becomes an extremely challenging and tiresome task. There are many ways that startups can explore to get funded for their Fintech business including crowdfunding, bank loans, venture capitals, seed investors and many others. The startup should focus on having a minimum viable product (MVP) that presents a proof concept for the startup. It plays an integral role in improving the product and getting investors’ attention. Build the company This is the final step that requires precision in building that dream company. It is ongoing and stretches long into the future. It involves a number of many important things such as launching the startup, starting operations, improving the product features/functions/quality and integrating new-age technologies to build an impactful business. The best way to build a company is to start small and keep improving the product basis customers’ feedback. This reduces the risk of failure and rushing into the highly saturated market. Takeaway The FinTech industry is burgeoning with the emergence of startups with disruptive products and business ideas. Following the right set of steps and creating a robust strategy to build a FinTech company can offer the best opportunities to thrive in the market.

Digital First Magazine February 2022

EXPERT’S OPINION

Ed-tech Trends in 2022 Karunn Kandoi, Kunal Kislay, Co-founder and CEO of General Manager & Head of India Integration Wizards Solutions Operations, ApplyBoard India

he age-old proverb “change is the only constant” remains true in most, if not all, aspects of life, and the education industry is no exception. The pandemic has only increased the necessity for the speed of technological adoption in all sectors of society, including education. As the world and all of its processes came to a halt to meet the pandemic’s demands, a transition to digital methods became more of a necessity than an inventive endeavour. The pandemic nudged the education industry to embrace the concept of remote learning that was already brewing. This was crucial at the time, not only for the industry’s survival and expansion but also for educational institutions’ competitiveness in the market. Institutions, instructors, and students should all be commended for their willingness to adapt to the challenging new normal. As we approach the new year, let’s take a closer look at some of the notable trends of 2022 in the EdTech space: Customized experience with Artificial Intelligence Personalized learning with the help of Artificial Intelligence (AI) is becoming more popular because of the personalization it offers. Customized learning offers a tailored experience to match the needs

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Karunn Kandoi, heads business operations for ApplyBoard- India and serves on its board along with other public limited Ed-tech companies. Karunn holds a bachelor’s degree in engineering and an MBA from the

University

Washington.

Before beginning his stint with ApplyBoard, Karunn was associated with Extramarks Education India Private Limited as the DirectorWhole Time & President Global Business. Karunn founded Shree Eduserve and created the largest brand for learning English in India. Karunn is skilled in creating and expanding businesses, operations management, creating technologyled products and driving growth from them. Throughout his inspiring journey, Karunn has participated in various panels on EdTech organized by the likes of Asian Development Bank,

CNBC,

News

Nation,

Education Department of the Govt of Kenya, FICCI-India etc.

Digital First Magazine February 2022

and demands of each student. For instance, one student may excel in math, but then also struggle to learn new languages because he likes to learn visually. To best support every student’s learning, different approaches are required. This is what customized learning aims to do — offer each student the greatest educational experience possible. Speed of learning, material, series, technologies, quality, instructional style, instructional materials, and other aspects of personalized learning can all be adapted to match each child’s requirements and learning goals.

AI aids in the prediction of learning outcomes, allowing content to be customized to each student’s knowledge levels and desired learning style Personalization, nevertheless, may be improbable without artificial intelligence (AI) technology. Instructors can leverage platforms that are powered with AI to access individualized learning and training options at their own pace. AI aids in the prediction of learning outcomes, allowing content to be customized to each student’s knowledge levels and desired learning style. Unlike traditional learning environments, where students must wait for their educators to review their work, EdTech platforms leverage AI to provide basic feedback immediately, allowing students to make course corrections while also informing educators about areas where students need to improve. EdTech also allows students the freedom to take on their own independent learning journeys.

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Everyone should embrace hybrid learning Be it hybrid working or hybrid learning, ‘hybrid’ seems to be the future. According to a recent survey from QSthe majority of institutions and organizations reported that students and educators dislike online-only studies. In fact, only 30 per cent of survey respondents said that they had significant interest in online-only studies. This clearly indicates the promising future of a hybrid culture. In this format, the instructor offers live instructions in the classroom as well as online in a hybrid learning environment. Asynchronous (non-live) teaching methods are being used to supplement synchronous, face-toface instruction in the hybrid learning format. Some of the techniques that are helping students learn better are video-based learning, pre-recorded lectures, and online discussion forums. One of the major benefits of this model is that it allows for more flexibility and typically, can be much more cost-efficient. In the coming years, the ability to choose between face-to-face and online learning will be a valuable advantage for both students and teachers. VR and AR offer an immersive experience According to a new study by PwC, virtual reality technology allows students to learn more content faster. Virtual Reality (VR) or Augmented Reality (AR) requires active participation and this engaging method may make it much easier to absorb and learn. The primary benefit is active assistance. In contrast to passive methods of training, VR and AR tools can help a student stay inspired and offer them a new way to approach a problem. It’s possible to do it with printed replicas of the structures, but seeing it in 3D makes learning a lot easier. A science student would be able to view the periodic table or molecule ions with formulas in a form in front of them. This visual format will help students recall all the material and pay attention to specific details. All of this is feasible because of augmented reality. The bottom line EdTech has not only made studying easier and more enjoyable, but it has also saved and revolutionized the educational sector in many ways. EdTech solutions have aided in the holistic shaping of a student experience and have helped them realize their ambitions of obtaining a worldwide education. EdTech platforms have helped students apply to study abroad in the pandemic despite all the barriers they had to face. We’re proud to be part of this innovative and resilient industry and look forward to the many advances the EdTech sector continues to make in the industry.

123

Higher Education Digest October 2020

Digital First Magazine February 2022

IN MY

VIEW

Tech Trends for the Restaurant Industry to Watch-Out in 2022 Kumar Vembu, CEO & Founder, GOFRUGAL

he pandemic may not be behind us, but a new year is waiting at the door. December is the time for hope. A time for change. A time to alter old recipes to blaze new trails and taste new triumphs. How can restaurants stock up new things this coming year? What do they need to cook? How can they serve themselves a sumptuous success? Here are five smart ways to ring in the new year for restaurants. 1. Contactless ordering for ceaseless success While restaurants have started to prepare themselves for the future of dining, contactless or QR code dining helps get the diners back. With a QR code-based digital menu, diners can quickly scan the menu from their mobile, order, and pay contactless. It is a safer and easier option over the menu cards, minimizes the contact with restaurant staff, and helps in instant communication resulting in faster table turnaround times increasing staff’s efficiency. Digital menu improves the customer experience as the menu is dynamic based on availability. They can entice them with visual images of the food while there is no need to download any app for ordering.

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Automate your inventory, keep your business healthy and automatically enjoy success

KUMAR VEMBU

Kumar Vembu is a visionary with more than two decades of entrepreneurial experiences of identifying and riding the technology transformation wave to doing business in India. He is an also angel investor in some of the most promising start-ups such as Pick Your Trail and Urban piper. Driven by a determined goal to build a world-class software product company in India, Kumar co-founded Zoho Corp., in 1995 with his brother Sridhar & Delium in 2016. GOFRUGAL is his brainchild and was established in 2004 with a vision to make ERP easy. GOFRUGAL’s solutions are helping over 30,000 brands across 40+ business formats transform trade business operations digitally for improved customer experience helping them sell more & serve their customers.

Digital First Magazine February 2022

Bottom-line: Do contactless dining and, ironically, touch customers’ hearts by providing the experience they desire! 2. In-house deliveries for enhanced relief Third-party delivery forces restaurants to play second fiddle. They don’t understand their raison d’etre - their customer. Also, delivery apps charge a bomb and blast their profits to smithereens. With in-house delivery, restaurants get better control, faster and efficient deliveries, and enjoy better profit margins. Moreover, it lets them avoid mistakes, delayed deliveries, order cancellations, and miscommunications and saves them money and stops them from ending up with eggs on their faces. With in-house delivery, restaurants can avoid such costly mistakes, get better control, enjoy faster and efficient deliveries, and enjoy better profit margins. Bottom-line: In-house delivery is the thing to do understand customers better and maximise profits!

The pandemic has stressed the need for menu engineering where it is easy for restaurateurs to delve into their data and design the menu

3. Automated inventory for better efficiencies The business of food is the business of procuring ingredients right and using them optimally. You end up minimizing cost, sacrificing errors and maximising profits. Automated inventory helps you control your

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stock better so you reduce waste and resist pilferage. With Cloud ERP/POS it’s easier to track inventory in real-time, plan and optimize. Production planning helps estimate the ingredients and inventory needed for preparing the food. It also helps to arrive at the exact cost of the item (including the cost of ingredients, electricity, labour, packing etc). Bottom-line: Automate your inventory, keep your business healthy and automatically enjoy success! 4. Conjure collaborative platforms for cool comfort Omnichannel has always been the name of the game for restaurants. With the rise of cloud kitchens, kerbside pick-up, contactless-ordering, and contact-less delivery, restaurants need to consolidate with an integrated restaurant ERP for efficient working and proficient profits. While restaurants will continue to integrate with different market-aggregators, loyalty providers, e-commerce, mobile-ordering, digital wallets, the ERP provides this collaborative platform with a one-single consolidated view of orders, inventory, pricing, promotion, and more! Bottom-line: Build collaborative platforms for a frictionless experience for customers and enjoy elaborate success! 5. Add menu-engineering to your menu Gone are the days when restaurants tracked their stock, recipes in excel sheets and docs. It was time-consuming, error-prone, not accurate, and harder to scale. Analysing data is imperative for restaurants to sustain and grow. The pandemic has stressed the need for menu engineering where it is easy for restaurateurs to delve into their data and design the menu. They can analyse poor-performing items on the menu and eliminate them, thus reducing wastage and food costs. Analysing each menu item’s popularity and profitability can help them design a profitable menu. Bottom-line: Proof of pudding is in eating but preference for pudding is on the menu! Restaurants are as much about trained chefs and tasty treats as they are about technology. It’s time restaurateurs begin to embrace efficient technology and proficient tech partners to avoid the problems of their past, help streamline their present and ensure they future-proof their businesses. It would also empower them with tools for accurate decision-making and enable them to integrate and grow, streamline operational efficiency, and enhance their customer experience. Bon appetit!

Digital First Magazine February 2022

LEADERS’S INSIGHTS

Shopping in the Pandemic: Tracking the Paradigm Shift in Consumer Behaviour Nishit Nanda, CEO, Consumer Business Khimji Jewels & CEO, youlry.com

Nishit is a technophile and loves all things virtual, cloud and code-driven. He is also an avid student of human behaviour, with his interests continuously sharpened by how people behave, buy and share in today’s melted age of data, technology and connected dynamism. When he joined the family business of jewellery retail in 2013, he made it his mandate to disrupt positively the age-old ways of doing business by infusing accountability, data democracy and technology-led initiatives in the way jewellery was made and sold. Today, he is successfully putting in motion the many moving parts of a digital commerce ecosystem for jewellery and lifestyle retail. Rock-solid ethics, transparency and an unwavering focus on results characterise the core approach of this young leader when it comes to meeting, tackling and surpassing one milestone after another in arguably one of the most complex sectors in the world – that of e-commerce jewellery retailing. When not at work, Nishit can be found tinkering with codes and listening intently to the latest keynotes of tech titans globally.

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Today, most people turn to social media platforms and influencer recommendations for brand considerations and purchases

he COVID-19 pandemic has changed the world as we know it. Everything we do now is a conscious choice that reflects a shift in our behavioural patterns. We perceive and consume almost everything differently. From cuisines to content, from experiences to expectations. Amidst all this volatility, a favourite hobby for most of us and a necessity for all of us has also transformed immensely. The pandemic completely changed the face of shopping – how we buy things, what we buy, and where we buy them from. A closer look at emerging trends reveals that many of these changes are here to stay, sometimes even for the better. The focus shift The pandemic threw a lot of light on our lives, giving us perspective on things we took for granted earlier. As most

of us lived in an oasis through the past months, these insights affected our retail behaviour directly. Consumer focus shifted during the pandemic, bringing certain trends to the forefront. The market for health and wellness saw a steep rise in business as we began to concentrate on what we could no longer assume a given. The demand for hygiene and personal health products grew, and it looks like this revelation is definitely going to stay. Conscious consumption and value-based purchasing also became important during this time. With most of our lives in economic turmoil, impulse buying slowly started to fade. Today, a lot of us are buying things that we really need, that hold real value for us, and offer us multiple benefits. And of course, the stress on economies worldwide threw small and local businesses into complete chaos. Many struggled to survive and often came to a grinding

Digital First Magazine February 2022

halt. However, the pandemic brought us closer to our communities and local economies. The past months have seen a huge surge in love for local products as the average consumer endeavoured to do their bit for drowning businesses. Going local has proved to be hugely beneficial for both consumers and retailers, making it a solid trend that is here for good. Going shopping means going online While the digital marketplace has existed for some time now, the past couple of years put it into overdrive. As we stayed at home, our use of digital tools increased exponentially. Staying connected online in a physically disconnected world meant blurring the lines between work, lifestyle and social interaction more than ever before. Especially for shopping. We turned to the internet to fulfil every need. Even traditional shoppers abandoned their old methods and long-standing trust for brickand-mortar stores to get their retail experiences online. This is a trend that promises to continue even in the post-COVID world. Meanwhile, brands have responded to this explosion with great marketing zest – innovating and redefining buying processes, honing personalisation, and harnessing the power of technology to offer all of us a retail experience that is individualised and nuanced.

more only adds to the delights of shopping through a mobile phone. Everything is available and literally at our fingertips. This coupled with the fact that we spend a lot of time scrolling through social media feed made way for another interesting insight on consumer behaviour. Today, most people turn to social media platforms and influencer recommendations for brand considerations and purchases. The need to experience a product first-hand has been almost completely replaced by a vicarious feel of a brand. The sheer ease and accessibility of this mobile retail experience makes it something that will last for years to come.

With digital purchasing taking over, brick-andmortar stores have struggled to keep up during the pandemic

Shopping at the fingertips Research has shown that the mobile phone has become a primary point of purchase for a lot of us. Considering the digital boom in India, with even rural areas getting access to smartphones, this doesn’t come as a surprise. The pandemic, however, pushed this behaviour even further as the convenience and accessibility of mobile phones made online purchases simpler and more seamless. The fact that online shopping completes the purchase cycle with home delivery, easy returns, and

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Experimental over loyal The pandemic also saw a dip in customer loyalty for any particular brand. This was fuelled by the fact that we had more time on our hands to experiment with more brands, discover new interests and skills, as well as commit to local businesses. From cuisines to apparel to accessories to technology, these months have seen us all trying something new in different ways.

Pandemic-induced convenience With digital purchasing taking over, brick-andmortar stores have struggled to keep up during the pandemic. That’s why many brands have adopted and added certain digital-first aspects to their business, including home deliveries, curated recommendations, contactless payments and more. Today, most of us have emerged as more conscious and aware buyers. We are less prepared to compromise on the quality of not just the products and brands we choose, but also the retail experience we are offered. So, while the pandemic has turned our worlds upside-down, the world of shopping has somehow become even more fulfilling and delightful. A silver lining is what we like to call it.

Higher Education Digest July 2020

Digital First Magazine February 2022

EXPERT’S OPINION

Customer Service Trends to Look Out For In 2022 For Travel And Leisure Industry Pranjal Prashar, Kunal Kislay, Co-founder and CEO of Co-Founder & CEO, Xperium Integration Wizards Solutions

he pandemic has had an impact on and changed the lifestyles of people all over the world. And due to this deadly virus businesses across various industries have also witnessed a period of gloom. As a consequence of adapting to the new normal, we’ve seen industries adopt covid-19 protocols and adapt to their customers’ new demands. Because the travel and leisure industry is one of the most affected among the others, we’ve seen how the pandemic has left an indelible mark on the hospitality industry. In this post-pandemic era, the hospitality sector is doing its best to adapt to the wants and needs of guests while still keeping sustainability, health, and well-being in mind. With the rise of the omicron variant, there is a growing sense of unease about travel and a shift in hospitality policies that allow for cancellation, rescheduling, or credit back to the customer’s pocket without question. Here are a few hospitality trends to keep an eye on in the year 2022. Rise of staycation and workation People’s working models had been drastically altered as a result of the pandemic. The hybrid working approach is becoming increasingly popular among professionals simply because people can enjoy and work at the same time. Trends like work-ation is something that people are

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Pranjal,

seasoned

entrepreneur and investor in technology

companies,

co-

founded PIQUOR Technologies and launched their first offering REPUP with Vineet Chouhan in early 2015. Later in 2018, the

Company

introduced

Xperium – an AI-enabled CRM & Guest Engagement Cloud platform to fulfil the experience management demands of midmarket and enterprise segment in the hospitality industry.

Digital First Magazine February 2022

looking for where they can travel to different destinations and freely work with all the necessities which are essential. People are also seeking short destination trips or weekend getaways while the threat of the virus continues to loom large. Staycations were born out of a desire to keep a close eye on hygiene and the safety of their families. To stay up with the changing expectations of guests, the hospitality industry is undergoing changes to keep up with the new normal.

Hotels are focusing more on their distinct internet presence in order to maintain business, as 60 per cent of their revenue comes from online bookings, either directly or through online travel agents.

Focus on Digital Channel Hotels are focusing more on their distinct internet presence in order to maintain business, as 60 per cent of their revenue comes from online bookings, either directly or through online travel agents. Also, 97 per cent of the guests consider online reviews and ratings of hotels before making a reservation. Therefore, hotels need to proactively strategize to monitor and improve their online reputation. In addition, there are online reputation management systems with real-time assistance capabilities that assist hotels in managing and analysing their overall review as well as proactive work on fixing hot issues. Therefore, there will be information outflow from brands about changes in regulations and best practices through all available digital channels. Hotels will look forward to proactively educating and keeping their guest or potential travellers informed about the overall changes and protocols. Contactless Hospitality, Health and Well-being Contactless experiences which became a necessity back in 2020 continue to be offered same in 2022. Everything from

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check-in, checkout, menu, booking experiences is being done digitally without any staff interactions. Thus, hotels have removed shared tablets, physical menus, phones from rooms and installed QR codes that guests can scan through their personal devices. A lot more hotels will also implement a digital concierge which will further allow guests to request service, make complaints and buy ancillary services instead of calling or any physical interactions with the hotel staff while asking for things. Omnichannel presence Customer service differs depending on the industry. As hotels are now using more Omni-channel means for support and experience solutions through various communication mediums. Booking a hotel stay is now as simple as sending a text message, and hotels are turning to CRM providers who can assist them with basic management solutions that allow them to operate smoothly via emails, WhatsApp, and other social media platforms. Focus on F&B During the pandemic, hotels have also focused on other revenue streams. Hotels have started promoting their restaurants and have started to offer food delivery options. Hotels that already had segmented data were able to market to local guests with offers such as chef special, combos etc. Use of AI and ML Due to the rapid digital revolution that has occurred around the world in recent years, hospitality technologies have gotten considerably smarter. The use of machine learning and artificial intelligence is also being adopted by the hospitality sector too where AI and ML will be able to predict the need of the customer and provide a hyperpersonalised experience according to the guest’s demands. Sustainability With the emergence of pandemics, we have all seen the need of maintaining a healthy lifestyle and surroundings. Guests are looking for travel operators who are genuine and environmentally conscious. It is our responsibility to produce minimum waste and follow the path of ecoconsciousness. Thus, the inculcation of such habits in a hospitality business will result in enhancing the overall management level of the hospitality players. In conclusion, there has been a shift in society due to the changes caused by the pandemic phase. In recent times increase in consumer awareness has set new benchmarks for hospitality businesses that focus on sustainability, purpose, and health & well-being.

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LEADERS’S INSIGHTS

Swift Paradigm Shift: A Revolution in Work Culture in 2022 Gerald Manoharan, Partner, J Sagar Associates (JSA) & Prerana Damaraju, Associate, J Sagar Associates (JSA)

Gerald (Jerry) has over 20 years of experience as a corporate commercial lawyer and has worked with several clients on diverse matters, including investments, corporate advisory, restructuring, mergers and acquisitions, contracting, dispute advisory and real estate. Jerry advises technology companies on entity setup, structuring, compliances and contracting. Having worked with technology companies as their in-house legal counsel, he is able to advise technology companies and service providers in a pragmatic manner when it comes to drafting, negotiating and finalizing outsourcing, managed services and software development agreements. Prerana is a Junior Associate at JSA, Bangalore with experience of one year. Her practice areas primarily include Real Estate, Corporate Commercial Transactions and Estate Services. Prerana has been involved with some of the largest real estate transactions in Bangalore and other regions across the country.

First Magazine 32 Digital February 2022

The disconnect between the offline and online workspace can be bridged by the organizations only by ensuring a robust technology such as adequate bandwidth, impenetrable security is in place to avoid any chances of a data breach

emote working, also known as, ‘WorkFrom-Home’ (“WFH”) has long been an option for many organizations. However, with the onslaught of the COVID-19 pandemic (“COVID-19”), many such organizations were forced to rapidly move towards the remote working culture. Since then, the organizations have undergone various changes to implement the remote working model as against the traditional centralized permanent workplace model. Not only did COVID-19 have its impact at an individual level, but it had also impacted countries at an economic level. With 2022 on the horizon, it is likely that the COVID-19 would very much still be a fact of life for many of us, which is why it is even more important for organizations to predict and effectuate new workflow trends shaping the year ahead.

Remote working model Before the pandemic, the idea of remote working was a fantasy to many people, but such practice was not considered to be practicable. There have been mixed reactions from the market in relation to the application of a remote working model. Many studies have shown that employees working from home have displayed a more positive attitude and less exhaustion from work. Studies have also shown that employees working from home have displayed an increase in productivity and flexibility. Remote working also acts as an incentive to attract new talent. The employees also tend to trust their employers a lot more since the working relationship is not as closely monitored, and the employees are allowed a greater degree of autonomy to get on with their work.

Digital First Magazine February 2022

Factors to overcoming vis-à-vis the remote working model Build Trust and Morale Building trust is a key factor to be considered, especially in the remote working model. The employees do not get to ‘live the culture’ of the company since they hardly spend any time in the office. It is difficult for the new hires to get a feel of their organization’s culture and people from behind the screen. It is also harder to maintain team spirit when employees are working remotely.

secured access to the remote computer through the internet so that the data is accessible yet secure.

Hybrid working model- a revolution in the work culture In the wake of COVID-19, many organisations around the world have introduced the hybrid working mechanism wherein the employees have been given the right to choose between WFH and physically working from the office space. Hybrid structures range from companies maintaining centralized permanent offices to accommodate Continued Productivity the staff who would work from the For the remote working model office space to doing away with the to be successful, it must ensure concept of permanent offices entirely that the base level productivity of and relying on a co-working space the employees does not dwindle. structure. What’s more likely to As long as there is no impact on change in 2022, is that the employees the base level productivity, such will have the choice of work model, remote working arrangements can rather than being forced to align with be adopted with ease. the model which the organisation had Based on the studies chosen earlier. Organisations such The 2Cs of the virtual as Credit Suisse, UBS Group AG, environment undertaken at a Deutsche Bank AG, Citigroup Inc. ‘Communication’ and ‘collaboworldwide level, and Tata Consultancy Services have ration’ are the two Cs of the viralready begun to implement the hybrid tual workspace that are probably most employees working mechanism. the most important factors which prefer a flexible Deutsche Bank AG was one the determine whether the remote first major multinational company working model is sustainable or working model which had rolled out the ‘hybrid not. Since there is no physical rather than working model’, whereby it had connection, communication can implemented the ‘40-60’ model, under be established only by dependa traditional which the employees were given the ing on the virtual forces. Comcentralized office flexibility of working from home up to munication and collaboration are three days a week. It had implemented hence the key factors that are space model. this model basis the study conducted to be maintained to help bridge by it amongst its employees across the gap between the offline and the world. online workspace. Further, grabbing on to the benefits of both, working remotely and working face-to-face with Dependency on digital tools. colleagues in the office and to enable a better work-life The organizations now have an increased responsibility balance, Credit Suisse, a global investment banking to ensure that the technology-based tools are developed company, having its offices in India as well, has launched in such a way to promote effective collaboration between the ‘The Way We Work’ model, wherein it gives its the employee vis-à-vis his/her ‘e-team’. The disconnect employees more flexibility on working hours and choice between the offline and online workspace can be bridged of workplace. As per the press release issued by the by the organizations only by ensuring a robust technology company, it stated that “The employees shall be able such as adequate bandwidth, impenetrable security is in to choose a working model that gives them maximum place to avoid any chances of a data breach. Organizations flexibility, depending on their area of activity, and allows should also ensure that they install effective and advanced them to determine for themselves, in conjunction with encryption software and related applications to provide

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Gerald Manoharan

their teams and line managers, how and where they wish to work.” Apart from this, the employees, together with their teams and line managers, shall also be able to choose and decide what percentage of their time they would want to spend outside of the office and which days they wish to spend working in the office, so that their individual needs, plans, and life stages can be even more closely aligned with their working life. However, the office will continue to play an important role as a place of work, due to social factors such as face-to-face collaboration, social contact, and workplace discussions. Credit Suisse is also developing other technology-based tools and guidelines to extend collaboration in both cases – whether in an office setting or via remote access. Tata Consultancy Services, an information technology services company has announced ‘25/25’ model, wherein its employees will spend only 25% of their time in office by 2025. Tata Consultancy Services also aims that by the year 2025, only 25% of its employees will work from offices at any given point of time. UBS Group AG, a multilevel investment bank, had gone a step further in relation to the flexible work culture space and went on to state that the employees who did not wish to administer the COVID-19 vaccine were allowed

Prerana Damaraju

to work from home. Further, it had also rolled out a permanent hybrid working model by which it allowed at least two-thirds of its employees to mix work-from-home and office, at the employees’ discretion. Conclusion Based on the studies undertaken at a worldwide level, most employees prefer a flexible working model rather than a traditional centralized office space model. Though studies have proven that employees with the most flexible work models were the happiest and most productive, whether this can be implemented on a long term basis depends on the magnitude of technology to be adopted and implemented by the organizations. A hybrid working model will put to test all the previous working models which had been in practice for decades and which were thought to be indispensable. Organizations still have a long way to go to determine whether such a paradigm shift of working culture would stand the test of time or not. The organizations can either continue to believe that they will deliver in the future because they have always delivered in the past, or they can embrace this opportunity and collaborate with their employees and staff to discover a new and better way of working.

Digital First Magazine February 2022

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3 Reasons Why Online Training Platforms Are Changing Fitness Forever Ketan Mavinkurve, Founder & CEO, Alpha Coach

ver the last couple of years, we’ve dealt with lockdowns, gym closures, and restricted gym capacity. We’ve started to look at new ways to keep ourselves fit. While there was a wave of dejection & negativity, there was a positive. We’re seeing a shift towards a more holistic approach to fitness. But having an overfull fridge as our only co-worker wasn’t beneficial for our fitness goals … The pandemic affected not only our physical health but challenged our mental health as well. But every downside has an upside. Whether you’re still afraid of going back to the gym or not, we can all agree that this affected us in every area of our life. Luckily, the online fitness industry stepped up and pivoted to keep people healthy. And it all happened online… Many people started looking at their health in a much different way. Yoga, group dance classes, and bodyweight workouts at home are getting way more popular. We’re getting more mindful when it comes to nutrition and our health in general. This results in new opportunities across various online platforms. While health and fitness are often mentioned together, the industry needed a redirection in the definition of health. Many

First Magazine 36 Digital February 2022

Personal coaching with tech enhancements provides long-term solutions

KETAN MAVINKURVE

Ketan Mavinkurve is the Founder and CEO of Alpha Coach. He is a Chartered Accountant and has worked in prestigious firms such as PricewaterhouseCoopers, Ernst & Young, and last served as Vice President at Berggruen Holdings, India for15 years. Prior to Alpha Coach, Ketan also co-founded AKRO Fitness, a boutique personal training studio in Mumbai, one of the most notable brands in the personal training brands in the country. Ketan is a fitness enthusiast, and after struggling with his own fitness for over a decade due to lack of knowledge and proper guidance, has dedicated his time and efforts to create businesses designed to positively impact people’s health and fitness, and help them create long-term sustainable lifestyle solutions. He is always challenging the status quo, breaking barriers, and blasting through ceilings we set for our own personal growth. “Everyone has the right and obligation to be fit, strong and healthy,” Ketan says, – so with Alpha Coach, he has created a platform to allow everyone to achieve their health goals. He also walks the talk in terms of taking action and execution and takes his own fitness very seriously. He truly believes that “No matter how hard the struggle is – if one wants something desperately, they need to go out and get it!”

Digital First Magazine February 2022

people could look aesthetically fit but still live an unhealthy lifestyle. Let’s face it, being on a caloric deficit for the rest of your life is not sustainable. The six-pack might be shortterm motivation, but the craving for food is stronger than how you look. We Indians love our curries, snacks, and other treats. That’s why our main priority from looking good should shift to living good. This means a lifestyle where we eat what we love (every now and then), and have a healthy relationship with food. While the famous new year’s resolutions resulted once again in a spike of sign-ups in January, this year it exceeded all expectations. with users signing up for online fitness apps and services far higher than in previous years. I could write a book about the various reasons, but let me share the 3 most influential that I’ve experienced. Judgment-free workouts Many people avoid public gyms due to a fear of judgment. They tell themselves they’re not experienced enough, not making any progress towards their fitness goals. Online fitness provides an opportunity to work out in the comfort of their homes. Without any weights, they can go at their own pace while building up selfconfidence. One of our clients recently texted: “I just did a 20-second plank, I never believed I could make that happen!” Isn’t that the beauty of online coaching? It allows coaches to make a tailor-made plan for each individual. Online coaching allows you to be the boss while having a safe space to build your confidence. Time convenient & price efficient In a world where being busy is often rewarded, we are our own worst enemies. We tell self-sabotaging stories like; the gym is too far, we’re too busy, or too tired today to workout. Home workouts provide you with the flexibility to work out where- and whenever you want. You have the ability to stay home and go at your own pace. This allows you to build momentum while saving time and money. You can now start working out for a ‘few bucks’ a month, and train with the best coaches in the world. You’re not tied to your local neighbourhood trainers. Online coaching results in low-risk and high-reward solutions. Hyper-personalization What works for you, doesn’t work for me. Personal trainers only educate you on a physical aspect. With

First Magazine 38 Digital February 2022

personal online coaching, your coach also educates you to live a sustainable lifestyle, based on your specific needs. Technology allows us to be more connected than ever. You have support, guidance, and expertise a few clicks away. The apps make tracking your progress easier, and you know what they say: “What Gets Measured, Gets Done”. Personal coaching with tech enhancements provides long-term solutions. Online platforms have become a place for people that live a sustainable and enjoyable lifestyle. There are scores of people that have tried fitness, “failed” and believed that it wasn’t for them. Now people are experiencing that they were not the problem, they just needed a better approach! These 3 factors combined help many people to find a holistic approach towards health, fitness, and life in general. The desire to build a healthy lifestyle has grown immensely and that results in a spike in demand. Research shows that many people are ready to get back to the gym and their post-pandemic routines. But the virtual component is there to stay. The demand will keep increasing because of its convenience, time, and cost-efficiency. Technology allows health & fitness companies to impact millions of people digitally. Online coaching has no geographical boundaries, time constraints, and is available for the fraction of a regular coach! Online fitness changed the fitness world as we know it, and this is just the beginning. The many benefits of online fitness include: ● Considerable time and cost efficiencies. ● High Flexibility & Convenience, due to hyperpersonalization. ● Able to enjoy our weight loss journey, at our own pace. ● Having an expert coach guiding us 24/7. ● Build a sustainable lifestyle through a more holistic approach. ● Building rapport between Coach and Client results in sustainable results. ● The shift of awareness, the desire to live a healthy lifestyle, and the need to improve our immune systems are 3 crucial factors for a raging demand. While the upcoming web 3 seems to make everyone a lot of money, the real wealth is in health. So my advice, start investing in fitness on both ends of the spectrum. “Life is all about ups and downs, so if the only guarantee in life changes, why don’t we learn how to adapt to our ever-evolving environment? It’ll pay you the most dividends in the long-term!”

Digital First Magazine February 2022

LEADERS’S INSIGHTS

Cloud Accounting Services – All that Entrepreneurs Need to Know! Vikas Chadha, Managing Director, Gl Outsourcing

Vikas Chadha is the Managing Director of the London based award-winning Global Accounting and Financial services outsourcing major GI Outsourcing. GI outsourcing has presence in UK and India with offices in London and Mumbai with a team of around 200 Accounting and Finance professionals who work on various financial services for clients in sectors including Hospitality, Travel, Retail, Health, manufacturing etc. among others. The company has a strong pedigree and history of nearly 20 years of service and a pool of esteemed clients with a strong loyalty towards GI outsourcing.

First Magazine 40 Digital February 2022

Cloud Accounting Services bring in the most obvious benefit to the businesses with the freedom of not staying glued to their Personal Computers, Laptop, hard drives, etc., unlike traditional accounting services

he leap of accounting services from the traditional format to the cloud is one of the most feasible decisions in many ways. Cloud Accounting Services also known as online accounting, simply allows one to access their end-to-end accounting services at any point in time from the web browser through the internet. Cloud Accounting services help entrepreneurs systemise their business functioning by optimising their processes. The huge variety and different kinds of cloud-based software available today spoil the users with a distinctive variety to choose from based on their customised requirements. It perhaps enables businesses to accommodate the ever-growing and ever-growing dynamic needs of their clientele. Over the last year and a half, Pandemic has played a huge role in the growth of the Cloud Accounting Services. It has mandated businesses to adapt to cloud for several factors including working from confined spaces, easy access to data, cost effectiveness, etc. ensuring that the time gets invested in relevant activities thereby contributes towards revenue generation.

Cloud Accounting Services v/s Traditional Accounting Cloud Accounting Services bring in the most obvious benefit to the businesses with the freedom of not staying glued to their Personal Computers, Laptop, hard drives, etc., unlike traditional accounting services. This allows it to offer a host of additional functions without any added cost. Traditional accounting brings along an unattached cost through the infrastructure set up including a high annual maintenance cost, which takes a plunge on the business’s profits. On the other hand, Cloud Computing Services go mild on cost as the maintenance takes place over the cloud making it cost effective as compared to traditional accounting. Another important difference remains in the access of real time data which is a key function offered by Cloud Accounting Services. Traditional accounting enables access to data only once it is fed into the system. Traditional Accounting being restricted to a particular device comes with a high risk of being lost if the device crashes or fails to get the data saved. Cloud Accounting Services perhaps offers seamlessness with the highest

Digital First Magazine February 2022

degree of efficiency as compared to any other form of accounting. Key areas for entrepreneurs to use the Cloud Accounting Services While businesses decide to use Cloud Accounting Services, it is essential to take a well-informed decision of its impact on the different areas of their accounting needs. To get the best from it, it is essential to, first of all, have a high speed, uninterrupted data connection. This will ensure that they get access to real time data at any given point in time. Below are the key areas where Cloud Accounting Services will majorly contribute: Process Automation: Automation of functions is one of the most critical aspects resulting in a reduction of manhours. Cloud Accounting Services enables entrepreneurs to completely automate accounting functions such as book keeping, liquid currency collection, reconciliation, etc. End-to-end utilization of these functions will allow businesses to cut down on expenses incurred by hiring additional resources. Access to additional insightful data: Access to the right data at the right time is the most important requirement for any kind of decision making. Cloud Accounting Services ensures that you have the required numbers and analysis well on time to make well informed decisions. Payment of taxes: Virtual payment of taxes such as VAT, GST, etc. becomes simpler and saves a lot of time. Cloud Accounting Services records all your transaction making tax payment easier. Simplifies work from home: Cloud Accounting Services makes it easy to work from any part of the world. It allows entrepreneurs to work from distance with flexible work hours and have access to key data at all times. If you are someone keen on working remotely then Cloud Accounting Services is definitely what you need. Benefits of Cloud Accounting Services Here are some key benefits for the young entrepreneurs including Small & Medium Enterprises’ and Small & Medium Businesses to keep in mind when considering Cloud Accounting Services:

First Magazine 42 Digital February 2022

Limits excess expenses: Most businesses function on a tight financial rope. A penny saved is indeed a penny earned. Cloud Accounting Services plays a key role in helping businesses go that extra mile by helping them save costs. Clarity on future income v/s expenses: Cloud Accounting Services gives a clear picture of the direction in which a business is headed. It basically tracks timely reports on incomes and expenses which can further be analysed in no time. Records growth, profits, debts, and losses: While every entrepreneur knows where they stand, it will be safe to rely on facts that are monitored and analysed at frequent intervals. Examination of losses incurred can help work on a factual plan of action to reverse the same. Besides helping businesses keep away from debts, it also helps save a lot of time. Contributes to financial decisions: Cloud Accounting Services gives a clear picture of where one stands thereby helping them plan investments. Offers security: Data security & privacy is key aspect for any business. Cloud Accounting Services protects data with highest level of security standards with backups taken at regular intervals. Allows multiple usage of data at one time: Cloud Accounting Services allows multiple people in the team to work on a data set at the same time which saves work hours and gets work done faster. Data Centralisation: Centralisation of end-to-end data is one of the best advantages offered by Cloud Accounting Services which leads to transparency. The data is compiled and managed at one single platform and can be accessed for years to come. Final Word We live in a globalised world with adaptive processes automated by technology. The dynamically changing scenario demands businesses to catch up with the global pace. Cloud Accounting Services being a key area of a business’s growth has become more relevant than ever before. Whilst businesses may try to keep the traditional ways of accounting and book keeping intact, sooner or later will have to adapt to the technologically driven accounting practices as that will bring a huge difference to the entrepreneurs’ financial decisions.

Higher Education Digest Digital First Magazine October 2020 February 2022

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Cloud-Native is Shaping the Future of Digital Businesses Sunil Krishnareddy, SVP and India Head, Enquero – A Genpact Company

loud is fast becoming the infrastructure of choice for organizations of all sizes. Virtually unlimited compute and storage, on-demand elasticity, lower cost of ownership, robust security, and high availability are some of the highlighted benefits of the cloud infrastructure. But are organizations really ready to absorb the advantages of running applications on the cloud? Existing business applications, architected for traditional on-premise infrastructure, follow certain architectural patterns to meet non-functional requirements such as performance, security, availability; this list could go on. These patterns will not work in the cloud environment. A cloud-native architecture opens up many possibilities. But it also introduces new constraints that are different from that of traditional on-prem infrastructure. Whether applications are born-in-the-cloud or migratedto-the-cloud, they should follow the cloud-native architecture to take full advantage of all that the cloud promises while addressing ways to handle new constraints.

First Magazine 44 Digital February 2022

With horizontal scaling offered by the cloud infrastructure, applications can automatically scale up or scale down based on user demand

SUNIL KRISHNAREDDY

A strategic advisor and a business transformation leader with over two decades of expertise in software product engineering, enterprise architectures and end-to-end project management. Sunil has an impressive track record of delivering high performance enterprise applications for the Fortune 500s of the world. Having lived and worked, both in India and USA, Sunil enjoys interfacing and understanding work and organizational dynamics of different cultures. He is a trusted collaborator in delivering impact to a business ecosystem of partners, employees and customers. Sunil focuses on building long-lasting relationships with stakeholders on a bedrock of mutual respect, integrity, and meritocracy.

Digital First Magazine February 2022

Deliver better value with cloud-native architecture With horizontal scaling offered by the cloud infrastructure, applications can automatically scale up or scale down based on user demand. This ensures that an application is better suited to handle rapid changes in user traffic. Thus, helping a business to optimally serve its customers. By automating build, testing, and deployment (continuous integration, continuous delivery), development teams can enhance applications on an incremental basis, iteratively release new features to users, and meet non-functional requirements - all this while maintaining high quality and availability. Logging and monitoring can be built into a cloudnative application to help monitor the health of a system and automate its recovery, in case of failures. This minimizes application downtime by detecting and even predicting mishaps, whether they are related to user functionality or non-functional problems. Handle constraints Cloud-native applications are typically internet-facing and are, hence, prone to external and internal attacks. Security must be built deep into an application by introducing authentication between and minimizing trust among components of the application. It is difficult to maintain a user’s state because application services are designed to run on different instances. Hence, application components need to be stateless to the maximum extent possible. Stateless components are easy to scale, repair, and rollback. Beyond the cloud infrastructure, most cloud providers offer a rich set of managed services that take away the operational overhead of managing software and infrastructure, but these managed services make the application less portable. It’s a trade-off but the benefits of managed services outweigh the risks, in general. Going forward, hybrid infrastructure (public cloud, private cloud, on-prem) will be a reality for many enterprises. But with such adoptions, the need for specialized skillsets is high and additional services are required for making it all work in tandem. Ways to migrate or build applications that can run in the cloud infrastructure There are three ways to migrate legacy applications to the cloud infrastructure. • Use containers to run an application with minimal changes – a quick and dirty way, but expensive

First Magazine 46 Digital February 2022

and sub-optimal. This doesn’t take advantage of cloud-native features • Refactor a monolithic application into microservices that can be independently developed, tested, deployed, and upgraded. While microservices make this application more adaptable, they also increase the application complexity. Refactoring is expensive, time-consuming, and error-prone • Rewrite a given application ground-up, using the principles of cloud-native architecture. This approach may be expensive upfront but will have the best ROI and future-readiness

Going forward, hybrid infrastructure (public cloud, private cloud, on-prem) will be a reality for many enterprises

Functions-as-a-Service platforms like AWS Lambda and Google Cloud Functions can be leveraged to implement distributed, event-based, serverless applications. Serverless computing removes the need for developers to manage servers or runtimes. Serverless architecture automatically scales up or down the cloud resources based on the workload, potentially saving a business a lot of money. In conclusion It is apparent that cloud-native is quickly becoming a preferred method for application development and modernization, and one can only realize its massive potential with the right “cloud-native” mindset. The cloud-native architecture itself is fast evolving and so are the cloud infrastructure providers and the entire ecosystem housing such applications. Organizations that embrace change as a way of life, will be wellpositioned to keep pace with such a fast-changing technology landscape.

Digital First Magazine Higher Education Digest February 2022 October 2020

LEADERS’S INSIGHTS

How Digitization of Kiranas Contributes to the Growing Online Retail Market Sridhar Gundaiah, Founder & CEO, StoreKing

Sridhar, CEO & Founder of StoreKing, is a radical technology-driven entrepreneur. He has successfully harnessed a holistic pursuit in building the Distribution Highway to rural India. Having garnered over a decade worth of experience, Sridhar has been instrumental in driving StoreKing’s growth. In his illustrious career, spanning over 15 years, he has worked with companies like EDS, Yellow Tag, Prolnt Software. He has also established India’s first location-based service platform called Yulop in the year 2007. Sridhar is an alumnus of the University of Greenwich. In his free time, he enjoys being with his family.

First Magazine 48 Digital February 2022

Over the last one and a half years, we have witnessed the growth of several end-to-end selling platforms that simplify e-commerce for Kiranas and other traditionally offline retailers

he Covid-19 pandemic has fast-tracked digitization among both sellers and consumers. Even the less digitally savvy population now confidently pay via UPI and place grocery orders via WhatsApp for delivery later. While large swathes of rural land have historically been underserved by the retail ecosystem, evolving technologies are all set to change that. And the prime mover in that will be none other than the humble Kirana store, of which there are 12 million quietly serving the masses. A new retail model In the last few years, online retail has witnessed the entrance of several new players. From digital-first startups to big brands seeking to expand their portfolio, entrepreneurs are eager to take advantage of the trend

shift towards ordering online. At the same time, these players have struggled to make inroads in rural and semiurban areas, largely because of fragmented supply chains that hinder last-mile delivery. There is also the fact that many customers are too accustomed to offline shopping to be attracted by e-commerce marketplaces. Realizing this, retail hopefuls are moving towards a new form of online retail, one of collaboration between e-commerce players and the Kirana store. Over the last one and a half years, we have witnessed the growth of several end-to-end selling platforms that simplify e-commerce for Kiranas and other traditionally offline retailers. They include features such as: ● Inventory management: Kirana store owners can use these platforms to order a wide variety of high-demand brands and products and have them delivered. ● Supply chain continuity: The B2B solution handles

Digital First Magazine February 2022

all the logistics of order shipping and delivery. The store owners can simply track each order online and be assured that it will reach on time, rather than having to collect their orders from the warehouse. ● Financial inclusion: Many of these solutions enable financial upliftment for store owners by offering loans at easy interest rates and credit on-demand for working capital. They also provide expert advice on how to invest money and timely alerts on bill payments to facilitate clean credit histories for bigger loans. ● Marketing: Kirana store owners can benefit from full guidance on processes like social media marketing, discount promotion, and loyalty program management. Kiranas proved to be the unsung heroes of the Covid-19 pandemic, continuing to operate through lockdowns while supermarkets were forced to close and attract even urban buyers who would previously rely only on large stores. Nor have they been slow to adopt technology as needed – when social distancing became a priority, store owners began connecting with their customers via WhatsApp for deliveries and also using the platform to get in touch with suppliers. The time is ripe for Kiranas to take the next step in digitizing, and a partnership with e-commerce players can do exactly that. How the Kirana benefits In a model like this, both parties bring unique qualities to the table. Kiranas are directly connected to the end customer and understand what the people want, while e-commerce players have the technological capabilities to turn that knowledge into efficient business decisions at the micro and the macro level. With appropriate technology, Kirana stores can streamline their order fulfillment and inventory management processes to ace last-mile delivery. And for the rural retail and e-commerce player, Kiranas present a golden opportunity to tap into the largely unexplored rural market and obtain direct consumer insights that can translate into better sales. The chief hurdle to kirana digitization so far has been inadequate technological know-how. Moreover, many store owners in small towns mistrust the notion of shopping online and are too used to traditional methods. Rural Retail and Ecommerce players offer these store owners all the perks of a technological revamp – smarter inventory sourcing, timely delivery scheduling, better store layout, tech-driven customer service, and digital marketing – but on an interface that is easy to navigate and use. Through these interfaces, Kiranas can leverage the power of data, which enables them to plan inventories and offer new products to entice customers while saving

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money and avoiding guesswork. Moreover, they can enjoy complete visibility for all their transactions and accept payments in advance – a significant improvement over traditional Kirana environments where customers often ended up taking credit. Many online retail players are further aiding Kirana owners by offering structured credit facilities to help them acquire supplies on time and set up new store equipment. This, combined with financial literacy training, will help store owners take better control of their business.

For the rural retail and e-commerce player, Kiranas present a golden opportunity to tap into the largely unexplored rural market and obtain direct consumer insights that can translate into better sales

The way forward In 2019, a report released by consulting firm Redseer said online food/grocery retail accounts for only 0.2% of sales but is expected to reach 1.2% of the market by 2023. There is thus the huge potential for expanding via offline channels with a tech component, and by enlisting Kirana stores the possibilities go up manyfold. The government is actively encouraging Kirana stores to embrace digitization – for them to do it all on their own, however, poses a challenge. By teaming up with online retail players, Kiranas can enjoy the benefits of simplified operations and more sales with minimal hassle. As more and more of them become digitized, they can contribute significantly to the growth of online retail in a manner that is truly inclusive of the entire country by catering to buyers at the grass-root level.

Digital First Magazine February 2022

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Brands’ Heightened reliance on emerging Technologies, Automation, AI/ML, Augmented Reality Piali Dasgupta, Senior Vice President – Marketing, Columbia Pacific Communities

R and VR, contrary to popular belief, have existed for a few decades now. AR has existed since 1968 and VR since 1957. However, it has been made accessible to people only around 2010. With the growing interest in the metaverse, and Facebook and Microsoft trying to lock horns to own the metaverse revolution, brands and marketers are at the threshold of a post-internet era. The digital revolution in the last decade changed the way we live, buy, sell and communicate with each other. AI/ ML/VR/AR is taking this transformation to a whole new level with new technologies such as IR (Immersive Reality) and XR (Extended Reality) being invented frequently. It is being said, that globally AI and ML will take away 375 million jobs. And a substantial part of these jobs will be Marketing jobs. And yet, the future for marketers is not as bleak as it appears. Marketers would need to upskill and reskill quickly and understand that while some jobs would be made redundant in the next 10 years, other jobs would be created which would demand newer skill sets. In India, Mondelez’s Cadbury has stayed ahead of the curve in leveraging AI to craft communication.

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Brand owners have realised that AI and ML bring in a lot of efficiency in the entire sales process

PIALI DASGUPTA,

Award-winning marketing and communication professional with over 15 years of cultivated skill sets in strategising and driving branding, imagery, brand positioning, brand architecture, customer segmentation, communication and storytelling. A sharp creative thinker and ideator, Piali Dasgupta believe in striking the right balance between the yin and yang of Marketing. She started her career with Journalism in national publications such as The Times of India, India Today group, Mirror and MiD Day writing on the business of fashion and lifestyle brands. Post this, she wanted to explore the other facets of communication and work with brands, which led her to join Myntra as their Fashion Editor, after which she joined Amazon to set up social media marketing for Amazon Fashion in India. She has also worked as the Creative Director and Branch Head of Sapient Razorfish (Publicis Groupe), where she drove the entire digital marketing mandate for Aditya Birla Fashion Brands such as Louis Philippe, Allen Solly, Peter England, People and Planet Fashion, heading their in-house digital media command centre. She is currently Senior Vice President, Marketing at Columbia Pacific Communities, India’s largest senior living community operator.

Digital First Magazine February 2022

Their Rakhi campaign this year used AI to manipulate the digital image of film star Hrithik Roshan to create customised messages for every sister that got a Cadbury’s chocolate box from her brother. For Rakhi, the brand also collaborated with Social Hardware, an organisation that provides sensor-based prosthetic arms. The technology involved in this is a generative design that merges CAD software with artificial intelligence algorithms. One of the most successful campaigns this year, the Cadbury Diwali campaign, is a brilliant use case for AI. The #IssDiwaliAapKiseKhushKarenge ad featuring Shah Rukh Khan used AI to help small businesses and local retailers create hyper-personalised ads featuring the superstar urging people to buy from their stores. As part of Mondelez’s “humaning” marketing strategy globally, Cadbury launched the ‘Not Just A Cadbury Ad’ last year which used AI to create hyper-personalised spots for small and local businesses across 260 pin codes in the country. So, AI, in many ways, is making the impossible possible. But it is not just marketing campaigns and customer lifecycle touchpoints that are being revolutionised by the metaverse. Brand owners have realised that AI and ML bring in a lot of efficiency in the entire sales process, because it helps predict which leads have a higher chance of conversion, how long the sales cycle is going to be and the actions that need to be taken at various stages of the customer lifecycle. With machines predicting business outcomes and taking care of a lot of work that would have otherwise required human intelligence, businesses would see accelerated sales and higher efficiency levels. In a category like food tech, the entire recommendation model along with other customer experience enhancement features is based on ML. It’s about identifying what a customer is likely to order based on what he has ordered in the past, mining huge volumes of data. The delivery process, which involves assigning a delivery partner to estimate the time it would take for the food to be prepared by the restaurant as well as the time it would take to deliver it, are all a function of ML. In fact, Swiggy is known to have a heatmap featuring demand areas for its delivery partners, which helps them to identify which area they should be headed to after their current delivery. The Indian Augmented Reality and Virtual Reality Market were valued at USD1. 83 billion in FY2020 and

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will grow at a CAGR of 38.29% until FY2027. It is no secret that the pandemic has resulted in a 50% surge in the use of AR/VR compared to the pre-pandemic usage. Brands are using these technologies to enhance customer experience and aid customers in making a purchase decision by giving them an experience as close to a brick and mortar experience as possible. This has become particularly crucial for high tickets price categories such as automobile, real estate and fine jewellery, where the sales cycles are longer and a purchase is made after much thought and deliberation. Real estate, for instance, has used AR and VR extensively to launch their projects and to give customers a virtual walkthrough of a site, aiding in the purchase decisions, during the pandemic, when site visits were not possible. At Columbia Pacific Communities, during the first wave of the pandemic, we participated in virtual expos, which helped us showcase The Virtuoso, our signature project and India’s first senior living community designed to international standards, to customers. A live, interaction counter also helped customers get answers to any of their queries on product features and prices. Many real estate firms including Puravankara, Prestige and Lodha used virtual reality successfully to give prospective customers a home tour and meet their sales targets. AR/VR or other elements of the metaverse have a comprehensive role to play to bring the customer closer to the brand, and in some cases, annihilate the competition. My favourite example to quote is Burger King’s iconic “Burn That Ad” campaign in Brazil in March 2019. It is a fantastic example of the use of AR and pyrotechnics, with which the brand urged its customers to digitally set fire to all ads of its biggest competitor – Mac Donald’s ads. Customers could point their smartphone at any MacDonald’s ad through the Burger King app, and not only see it being burned up instantly but also enjoy a free Whopper from Burger King. The campaign won nine Cannes Lion and three Clio Awards. But more importantly, it literally burned the huge media spending of the brand’s main competitor, MacDonalds. Metaverse is allowing customisation at scale, optimising big data to enhance customer experience and target customers better, and making creativity truly limitless. It is the present and the future of business and marketing.

Digital First Magazine February 2022

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