| Leverage Technology to Accelerate Business: Sharda |
Technology is impacting our Business Environment on an ongoing basis, and whatever may be ones perception, one just cannot afford to stay away from adopting the latest technology, was how Dr.Paramjit Kaur, General Secretary,LMA introduced the interactive session, Leverage Technology & Augment Speed of Business . Vice President, LMA. S.S.Bhogal introduced the Speaker Mr. Munish Sharda, MD & CEO Future Generali.
Munish Sharda, introduced the theme by highlighting that the current times are truly a Game Changing Era. He emphasised that these are the times when all Entrepreneurs should seek change for greater profitability and long term growth.
10 Key takeaways from his session were:
2.India offers a huge opportunity, as within the next decade we can add 3 more India's in terms of GDP due to our being the youngest economy, with socio economic indicators even better than China.
3. The space & opportunity is not only huge, but there are also very few claimants to this space, and any player whatever be its size, if he dares, can leverage and grow.
4. India is in the midst of a Digital Revolution with more than 58 crore people using the Internet daily and we as a country have leapfrogged from the 1st level to the 3rd level and this by itself is a tremendous advantage as we have jumped the learning curve.
5. JAM- Jandhan+Aadhar+Mobile is the backbone for our extra ordinary growth
6. He asserted that new paradigm for effectiveness was adoption of digital technology and Data is the New Oil. He advocated Usage of Data for continuous transformation of Businesses.
7. He shared examples from his Industry, Insurance and his own organisation to explain how effectiveness, cost reduction and higher profitability were brought in along with heightened customer satisfaction and delight.
8. He narrated how technology was transforming the relationship model between the organisation and its customers, from one of informing customers to that of empowering customers.
9. He advocated the Setting up of Efficient Data Warehouses, Data Transaction Systems, Creation of Block Chains, and the organisations should continuously monitor its processes for cost reduction and greater efficiency.
10.He concluded by asserting that organisations should be inspired by Steve Jobs, and start with the Customer, look at everything from the Customer Lens, and for making this possible, it will be essential to get the Right People with the Right Skill Sets.
Post his address, he also answered a number of questions related to the impact of tech change on employment and the society.LMA President Kamal Wadhera while proposing the Vote of Thanks hoped that rather than our reacting to technology, let us proactively embrace it and accelerate the speed of our businesses for break through results.