Digitization will touch and significantly impact all area of enterprises

—Kamal Goel Senior Vice President & Group Head IT, Anand Rathi Shares & Stock Brokers
Kamal Goel

Established in 1994, AnandRathi is one of India’s leading financial services firm offering Wealth Management, Investment Banking, Corporate Finance and Advisory, Brokerage & Distribution services in the areas of equities, commodities, mutual funds, structured products, insurance, corporate deposits, bonds & loans to institutions, corporations, high-net worth individuals and families. The firm has a vast footprint across India and also in select international locations such as Dubai, with presence across 1200 locations through its own branches, sub-brokers and remisers and representative offices/associate companies. The group  today employs over 2,500 professionals

Why Digital?

There is no business / enterprise that is not influenced by digital technologies. Yet there are very few of enterprises that have leveraged digital in an all round manner. i.e. UBER/OLA/PAYTM. Digitization journey of any enterprise is different. Because, unlike individual technologies, the enterprises are different. While digitization will touch and significantly impact all area of enterprises,the enterprises have to take a call on where can they create maximum value by digitizing. i.e. marketing, sales, supply chain, customer service or so on. Once the area is identified, it is time to prioritize and create strategy with short-term and long-term roadmap.

Going Digital – what does it mean to you and your organisation?

a. Digitalization of Product & Services

b. New streams of revenue

c. Reducing cost of innovation

d. Customer Experience

The Digital Transformation plan, strategy and the deliverables you expected or already coming in?

a. 24×7 availability requirement with the augmented digital process. i.e. bots.

Example 1: ROBO advising on Financial Investment (We  are already LIVE). Example 2: DWM (Digital Wealth Management) replacing PWM (Private Wealth Management)

b. Contact Less account opening / e-KYC

c. Customer Delight

The Roadmap ahead

a. Awareness & Communication with all stakeholders

b. Define measureable audit & controls for digitization

c. Improve infrastructure for the anticipated demand

d. Talent pool for digitization

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