CIO Wall

Rupen Shah

Head - Information Technology & Telecom - Peerless Funds Management Company Limited

CIO Perspectives

What is your IT strategy for driving business agility and scale?

At Peerless Mutual Fund we believe that leveraging IT business enablers like Cloud, IaaS, SaaS, Big Data Analytics & Mobile Apps is the key to driving business agility and scale, in this age of ubiquitous IoT where as an oblique analogy we can say that everything from a person’s shoes to an implanted pacemaker is online & connected, customers want convenience, be it across any industry vertical. We are currently using mobile apps & cloud based CRM, communication & collaboration tools to empower our sales and service workforce to cater to clients, we are also exploring moving our core data & applications to the cloud to remain agile.

Digital Disruptions not only threaten the very core of an organization’s business but also present an opportunity to innovate and excel. How are you responding to the new changes and applying digital transformation strategy in your organization?

The digital world of today has shrunk phenomenally in line with Moores Law, the focus has shifted from the laptops to the hand held with the latest crop of smartphones flaunting Octa core processors, 64 GB storage and 6 GB of RAM. Today users want to do everything online, from shopping for groceries to Investment & Retirement Planning which has to be done from the ubiquitous device in their hands.

We at Peerless Funds Management Company Limited (an Asset Management Company based out of WB and part of the 84 year old Peerless Group), have recognized this need of our investors to provide them with the best services by embracing the latest technology.

One of the perils of technology is the ‘disconnect’ or loss of human touch when interacting with clients, to retain this ‘Connect’ we have empowered our workforce with state of the art cloud hosted mobile apps for CRM, Collaboration, Task Management, HRMS and are also planning on implementing BI Analytics to ensure that we address the needs of our clients and potential customers proactively.

There are bound to be failures when one is constantly innovating and trying to reinvent itself in the digital transformation process, the secret is to fail-fast in the short run and if necessary go back to the drawing board with the strategy, and also learn from the successes and failures of the competition and build upon it. We have been successful in migrating a few of our services to the cloud, choosing the correct mobile solutions, responsive website design, online HRMS etc.

Change management is a critical phase in making any digital transformation successful, everyone from the top management, functional heads to the users of the technology are made to collaborate and be joint stake holders, we faced a few challenges when we migrated our email platform to Google Apps and while implementing the online HRMS but these were overcome with proper hand holding and training.

Technology is advancing at such a rapid pace that evolutionary changes more often than not have given way to revolutionary changes, hence we are constantly changing and realigning our business process using digital transformation.