Tag: Technology

Enterprise Transformation & Innovation Strategy

Breaking Free from Legacy: Why ERP Transformation is Imperative for EPC Companies

Indrajit Roy Choudhury

In the EPC sector, managing complexity is essential yet many firms are hindered by outdated systems, leading to inefficiencies and risks. Adopting an ERP system facilitates organizational transformation, enhancing project management, financial oversight, and cross-departmental collaboration. Successful implementation requires clear objectives, stakeholder involvement, and careful data management. The resulting benefits include improved profitability, operational efficiency, and scalable growth, positioning EPC companies for competitive success.

Technology Trends & Competitive Advantage

Harnessing AI for Effective Business Continuity Planning

Indrajit Roy Choudhury

In a rapidly evolving technological landscape, businesses must prioritize resilience through Business Continuity Planning (BCP). AI enhances BCP by predicting risks, improving response times, and aiding recovery. Its capabilities in risk assessment, scenario planning, real-time crisis management, and post-crisis analysis bolster organisational preparedness. Despite challenges like data quality and ethical concerns, the advantages of integrating AI—such as proactive risk management and cost efficiency—position businesses to navigate disruptions effectively and thrive amid uncertainty.

Banking Excellence & Financial Innovation, Technology Trends & Competitive Advantage

How Banks Can Monetize Open Banking and Generate Revenue

Indrajit Roy Choudhury

Open banking is revolutionizing finance by enhancing customer control over data and creating new revenue sources for banks. By sharing data through APIs, banks can personalize services, form partnerships, and innovate. Challenges include compliance and security. Success depends on embracing technology and customer-centric strategies to thrive in this evolving ecosystem.

Technology Trends & Competitive Advantage

Navigating Change: A Journey Through Change Management and Digital Innovations in Banking

Indrajit Roy Choudhury

The banking industry has evolved from manual processes to digital innovations driven by AI and blockchain technology. Change management plays a vital role in this transformation, addressing challenges such as resistance and infrastructure gaps. Future advancements focus on customer experience, collaboration, and sustainability, highlighting the importance of adaptability in banking success.

Technology Trends & Competitive Advantage

Project Nexus: Building a Global Network for Instant Cross-Border Payments

Indrajit Roy Choudhury

Project Nexus, initiated by the Bank for International Settlements, aims to standardize cross-border payments by connecting Instant Payment Systems (IPS) globally. It seeks to reduce transaction costs, enhance speed, and improve transparency for users. While addressing challenges like regulatory compliance and diverse payment infrastructures, Nexus promises a more inclusive and efficient global payment environment.

Banking Excellence & Financial Innovation

The Boston Tea Party: A Timeless Lesson in Supply Chain Disruption

Indrajit Roy Choudhury

The Boston Tea Party in December 1773 exemplified the impact of supply chain disruptions, highlighting their role in historical movements and modern commerce. Today's global supply chains face challenges from pandemics, natural disasters, and cyberattacks. Emphasising resilience, businesses must diversify suppliers, optimise inventory, adopt technology, assess risks, and strengthen partnerships to navigate future uncertainties effectively.

Banking Excellence & Financial Innovation

The Evolution of Core Banking: Navigating the Future of the Banking Industry

Indrajit Roy Choudhury

The banking industry is undergoing a significant transformation due to technological advancements, customer expectations, and regulatory changes. Short-term focuses include enhancing cybersecurity, improving operational efficiency, and customer experience. Medium-term goals emphasize digital transformation through cloud migration and data analytics, while long-term visions include real-time operations and ecosystem collaboration to drive innovation and competitiveness.

Enterprise Transformation & Innovation Strategy

Choosing Between Single Vendor and Multi-Vendor Approaches

Indrajit Roy Choudhury

The decision to select between a single vendor and a multi-vendor approach is crucial in today's dynamic business landscape. Each option presents unique benefits and challenges, influencing operational efficiency, flexibility, and risk management. Assessing business goals, vendor stability, technical integration, and compliance can guide organizations towards the most suitable strategy for success.