"We live in an era where data is the new oil"— Highlights from the Mint Digital Decoded conference

Powered by Tata Communications, the Mint Digital Decoded conference in Mumbai saw industry leaders and knowledge experts interpret what it means to be a truly digital enterprise in this day and age.

By: HT Brand Studio

Source: HT Brand Studio

Digital transformation – or the use of new technologies to empower and accelerate business processes and performance is currently a top priority for enterprises across sectors and geographies. At the Mint Digital Decoded Conference in Mumbai, leaders and decision makers from industries as diverse as banking to entertainment got together to decipher what it means to be truly digital as an enterprise, and how this can not only empower businesses but also transform customer journeys.

"Digital means different things to different people and businesses."

In his welcome address at the event on July 9, Mint's National Technology Editor Leslie D'Monte pointed out how the definition of digital continues to evolve every minute, with new technologies constantly disrupting the status quo. However, much of this is possible because of robust and reliable network support—core, fundamental technologies that we often take for granted.

This is where Tata Communications steps in. "Digital is in the very DNA of our operations," explained Sumeet Walia, Executive Vice President – Head – Sales India & APAC, Tata Communications, the keynote speaker for the evening. Tata Communications currently runs the world's largest wholly owned and most advance subsea fibre cable network, carrying over 25 percent of the world's Internet routes. Additionally, it connects operators to 4 out of 5 mobile subscribers and businesses to over 60 percent of the world's cloud giants.

"A strong platform with robust technology core is at the heart of digital transformation."

As Walia observed, in this era where data is the new oil and digital is 'currently disrupting business models', digital transformation is no longer a choice for most companies. Neither it is just an IT prerogative anymore; instead, it encompasses all aspects of the business. A stellar example of this is Tata Communications' long-term association with Formula One Group. Over the past 100 Grand Prix, they've helped one of the world's fastest sport achieve digital transformation by enabling remote operations, powering scalable media platforms online, and created efficiencies of 50% cost savings by reducing trackside infrastructure, logistics, and presence.

The key lesson here is that enterprises today need to choose between 'looking' digital through employing surface technologies, and 'being' digital where entire business processes transformed. Companies like Tata Communications make the latter possible by being the very foundation to the ecosystems that provide digital value to customers. Here, two of the most crucial services that come into play are the Hybrid Cloud and Unified Communications and Collaborations – both of which enable businesses to harness the benefits that digital transformation brings, at their own pace, in their own way.

"Constant vigilance is key -- what you see and know about is ultimately what you can protect."

Even as Walia described how cloud services can leverage a company's core platforms to encourage fearless innovation, it's important to remember that a major part of managing private and hybrid clouds is ensuring their continued security. Damanjit Uberoi, Executive Director - Cyber Security Practice, EY India, explained how enterprises today need to look at broad-based security solutions and rethink their entire security paradigm. "As opposed to conventional IT, hybrid cloud security must have the ability to detect unauthorised workload configurations, come with meta data support, detect anomaly detection in workload configurations, and posses intelligent vulnerability and patch control," asserted Uberoi.

"The Unified Communications & Collaborations (UCC) market is estimated to grow to $96 billion in 2023"

In an era where the definition of the modern workplace is constantly changing, UC simplifies processes and allows time and space for improving internal productivity along with external customer journeys. Eric Anklesaria – Partner, Management Consulting, KPMG India explained how UC can be harnessed across sectors, especially for ensuring customer satisfaction and retention. "One wrong message on social media can be damaging today. When it's so hard to acquire customers, we shouldn't be losing them so easily," said Anklesaria, going on to explain how offering multiple modes of communication to the customer can not only improve customer support and increase sales opportunities but also reduce costs and improve staff productivity.

Source: HT Brand Studio

"Digital transformation is less to do with the need to transform and often with the need to preserve."

While cloud services and UC both leverage an enterprise's potential for growth and success, Indian companies still face a few challenges when it comes to adopting major process changes. To discuss this, the evening's panel discussion had digital experts and leaders from diverse industries including Sachin Seth, Partner – Advisory Services, EY India, Aruna Rao, Sr. EVP & Group Chief Technology Officer, Kotak Mahindra Bank Ltd, Manas Mati, Executive Director & Head - Technology, Walt Disney India, along with Eric Anklesaria and Sumeet Walia. Moderated by Mint writer, Sanjay Gupta, the panel discussed both the opportunities and the roadblocks that Indian enterprises encounter in their digitization journeys. A key issue that the panel unanimously agreed on was the need to hire core talent that understands the potential of digital technologies.

"As we move to more open architectures, changes in company processes as part of their digital journey, have to be led by the CEOs," agreed Sumeet Walia. Eventually, businesses that successfully transform themselves are those that have a more active digital agenda than others and are more effective at attracting and retaining digital talent. Needless to say, supporting all of this will be a strong and trustworthy network partner, which ensures that the enterprise's landmark digital innovations are carried through smoothly.

How to withstand a cyberattack

Collaboration: The key to the future workplace

The 10 commandments of digital transformation

Robots are after our jobs: what can we do?

Peek into the digital future