Bharat 4.0

Technology has become an inseparable part of our lives. In the times of Uber, Swiggy, PayTM, Bitcoin and more, technology is not just helping businesses to perform but is also accessed by people in their day to day lives. In this context we spoke with Mr. Venkat Srinivas (CIO - RA Chem Pharma) about  how  technology is helping businesses to stay connected with their customers today and how effectively and securely democratisation of technology is revolutionising healthcare & pharmaceutical industry. 

What are the key tech trends dominating the healthcare space at present?

Technology especially during the covid scenario had enhanced and elevated the overall transformation that happens to engage and connect with the customer, through digital marketing has completely changed. The way the business has been done today more the 50-60 % of the sales happen digitally and E-Commerce has taken it to a next level and also customer engagement activities with the digital process and automation have been enhanced in overall connectivity and to the customer more efficiently. 

Digital democracy impacting efficiency and security

Since the digital India movement has started the e-governance has reached on overall access to the products and companies the way they do their business and also it enhances the technologies especially in the areas where we our use case on a supply-side we use IOT and the most of our liability is enhancing the technology by using the robotics process and automation. The monetary process in our business which is repetitive in nature has been automated by using Digital Payment platforms. Our customer again went back to the way the customer connected. 

The immediate use cases of technologies like AI, IoT, blockchain, cloud, AR/VR, etc, in the Indian Pharma sector.

We use Chatbot software extensively to respond to our customers repetitive questions which reduces the wait time and also the customer gets the response in time which eventually increases customer satisfaction, they get the feeling that their question has been answered. The combination of automation and the presence of machine learning and RPI’s has transformed the business that we do today to the next level. And it gives us the new opportunity where we can focus and work more towards the digital transformation.

Impact of Covid-19 on business operations & How did ICT/technologies assisted in sailing over the uncertainties?

Digital Revolution

There were many due to covid19, nobody ever thought that education can be executed online. It was always used to be taught in a classroom. That has completely changed across education sector today and now 100% classes are online likewise whatever they do offline in the schools they are now doing online.

Quick Implementation

IT industry have one pro that they can perform their jobs remotely and adopt cloud. It has completely revolutionized the way we deploy the system and the tools to get the benefit of digitization. The other examples are the Artificial Intelligence, Voice Recognition, and Virtual Realities these are the technology which is fully revolutionized and especially Hospitality sector much of activity and self-service technology change the experience of the customers. 

Remote monitoring and virtual consultations 

The democratising age of technology which has enabled industries globally like the high- tech companies, have given access to high tech product and services, as a result, we can do our business while going paperless, companies can use technology which is at the platform level and the information space, the data has helped in the prediction of  analytics at the various production stages. The revolutionization that has happened specifically on the development of an application which has speeded up the way products can be offered more economically across the globe. Technology helped us to remove the boundaries across geographical locations now we can deliver any kind of work from any part of the world thanks to the Collaboration platform and technology.

Venkat Srinivas

Present: Chief Information Officer at RA Chem Pharma (An Advent International Portfolio Company) since 2020

Past: General Manager Information Services & APAC Hub Lead at Apotex India since 2011-2020 | Megaware Technologies since 2004-2011

Venkat (Srini) is an Digital Transformation leader & Digital Strategist with decades of experience across Global IT Systems & Operations with defining, building and optimizing best-in-class IT onshore & offshore operations.

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