VISION AND STRATEGY
Technology & Digital has become an integral part of the Company as it remains aligned to its IT Vision: ‘Aspire to be a Strategic Partner through Innovative solutions for Rapid growth Enablement’.
The Company has made significant progress by combining its assets, knowledge and digital technologies and is investing heavily to improve processes, increase productivity and delight customers.
While the Company has launched multiple initiatives in getting technology-ready for business to build an enterprise ecosystem, it continues to embrace the industry-proven bimodal IT approach of strengthening the core and building for the future.
While the Company realises the importance of getting technology-ready for business and has created a strong foothold, it has started focusing on getting business-ready for technology. The first step in this direction was the ‘Piramal TechFest’ platform, which created excitement and enthusiasm about technology in the Company.
Key Group-level Initiatives
Getting Technology-ready for Business
Getting Business-ready for Technology
The Financial Services business has identified and shortlisted key opportunities across multichannel products and services and the following four technology pillars are helping the Company to build a state-of-the-art technology-driven business.
Strengthening Our Core Platforms
The Company is focused on building scalable, secure and resilient core systems. This is being achieved by re-hosting and re-platforming the technology architecture using a loosely coupled framework for efficient scale-ups enabling a faster go-to-market.
Digital Innovation for Enhanced Customer Engagement
The Company is:
Effective Risk Management
IT facilitates in implementing a strong Risk Management Framework by:
The Company is imbibing technology learnings from peers and engaging partner ecosystems, as well as implementing them by:
The Pharma business strategy continues to focus on Customer, Quality, Workforce and Capabilities. It is aligned with the Company’s Technology and Digital strategy with an aim of creating a differentiator, and generating higher stakeholder value through improved profitability, better operational efficiency, and higher customer and employee satisfaction.
Enhanced Customer Experience
The Company has taken several initiatives to increase transparency and discipline while achieving data accuracy. The Company has introduced newer technologies to improve customer experience by providing a virtual laboratory tour using Tele-presence via physical robots at the site.
The Company plans to improve workforce efficiency using chatbots for HR-related functions, enhance collaboration using Microsoft O365 and digitalise all offline processes.
The Company continues to drive automation of regulatory and quality systems across locations. Further steps to enhance compliance have been taken using innovative solutions such as chatbots for IT compliance and RPA for improving workforce productivity.
Newly acquired entities and products have been seamlessly integrated into enterprise-wide core systems and processes to increase overall productivity. The Company has leveraged technology to enable business expansion to newer geographies while being compliant with local regulations.
The Company has started its transformation journey with new-age technologies such as RPA, chatbots, and Business Intelligence. Some of the use cases in the focus areas are digitalising R&D, digitalising supply chain using blockchain, real-time data-driven business reviews using the Business Intelligence platform, customer and employee facing chatbots, and Virtual Reality (VR)-based site tour.
The Way Forward
The Company’s aim is to create value for its customers as well as shareholders by enhancing its Technology & Digital footprint. Our technology strategy will continue to play a vital role in renewing customer experience, automating core business processes, and improving technology systems by deploying cloud and cyber security solutions and as-a-service models. The Company will continue to build on a digital culture that is closely aligned with the business, talent and technology strategies to facilitate digital transformation at a greater scale.