Interview with Founder & CEO at Innovsol Ashok Pandey
Please introduce your company & services?
We are a new-age consulting and services firm that leverages digital technologies to create innovative and curated solutions for businesses. We combine tech expertise and business intelligence to catalyze change and deliver results towards enabling the enterprise goals by harnessing the power of emerging technologies.
We aim to reduce human errors by letting programming robots do the complex extent of work efficiently. The solutions provided by the company encourage businesses and organizations to create an automated workforce by offering a stage for programming robots.
The services include automating overall internal or web-based applications and providing unmatched answers for Citrix, SAP, Telecom, and BPO robotization. In the present situation of innovation propelled models of manufactured astute computerization that is enhanced with better abilities, Innovsol provides data and in-depth research-based offerings for potential differentiated outcomes in the universe of business.
What have been your challenges while building your brand?
Being a new-age business that is into curating the best solutions for businesses, Innosolv has been through its own sets of challenges over the years. However, the most prominent being the positioning of the brand in the already accumulated industry. Placing the image of Innovsol in the mind of the client through continuous education, information, and satisfying offerings to the consumers, public, and stakeholders was one of the biggest challenges which we faced during the beginning of our journey.
Following this, recognition was another challenge that resulted in a setback for our organization initially. Here, the challenge was to prove our credentials to most of our clients. However, the solution to tackling this hurdle was by taking a small chunk of work and proving our capabilities before moving ahead with new projects.
Which are industries do you cater to?
At Innovsol, the core of our operations revolves around digital technologies, which we leverage to create smart solutions for several industries. Through our services, we have been able to reach out to industries spread across the globe.
However, our primary success in operations has been due to our capabilities in effectively integrating automation, analytics, and AI strategies across industries such as Banking and Finance, Insurance, Retail, Manufacturing, among other relevant industries.
Our operations have also allowed us to make the most of the finance and manufacturing industry at large, However, moving ahead, we also look forward to covering new industries and exploring new spheres.
What are the disruptive technologies you foresee in 2022?
For 2022, we look forward to getting involved in several disruptive technologies. Primarily, here are the five major segments which we want to work upon. They are:
- Hyperautomation: Increased focuses on growth, digitalization, and operational excellence have highlighted a need for better, more widespread automation. Hyperautomation is a business-driven approach to identify, vet and automate as many businesses and IT processes as possible. It requires the orchestrated use of multiple technologies tools and platforms, including RPA, low-code platforms, and process mining tools.
- Smart Supply chain solutions – The pandemic has exposed global supply chain weaknesses and vulnerabilities. Many companies cannot fulfill orders due to the disruption of supplies, with Chips being one of the recent, e.g., impacting Automobile sales. Companies realize a real need to shift to more flexible and smart supply chain tools that are fully digitally enabled.
- AIoT – Artificial Internet of Things – Internet of Things (IoT) can collect massive quantities of data regularly and make these datasets accessible across the organization for decision-making. Today, companies are looking to use better-collected data to help people make better decisions that improve business performance. Innovsol sees this dynamic across all aspects of manufacturing, from design engineering to operations and maintenance to supply chain and human resources.
- 5G Technology – 5G technology, When compared to 4G (the technology in use right now), it can increase speeds tenfold. 5G will redefine entire industries by improving connection speeds and data transfers. Some of the things that will benefit from 5G will be connecting autonomous vehicles to the internet, improving virtual reality experiences, and taking IoT to the next level.
- Data Fabric: The value of data has never been clearer. But often, data remains siloed within applications, which means it’s not being used as effectively as possible. Data fabric integrates data across platforms and users, making data available everywhere it’s needed. Within inbuilt analytics reading metadata, data fabric can learn what data is being used. Gartner’s real value is its ability to make recommendations for more, different, and better data, reducing data management by up to 70%.
What are the solutions you have built for your enterprise customers?
Being a company that primarily revolves around innovating curated solutions from business, we have always been focused on ensuring seamless operations for our customers. Now, coming to your question, for our enterprise customers, Innovsol has collaborated with two major brands to curate cost-effective service models for them.
First, we created a platform to automate the loan process for Car Finance Co. The customer wanted to simplify their loan processing and save costs over their operations as well. Therefore, we came up with a solution to automate the entire process, resulting in yearly saving of $100K per year
For our second enterprise customer, we went ahead to automated the annual equipment updates for a major car manufacturer. The client was having problems in keeping account of all the manufactured OEM parts and with our solution, the car manufacturer was able to manage a yearly savings of $500k per year
There is dearth of skilled professionals in the technology domain like AI, Machine learning etc. How does your brand equip new students with new skills?
Hiring is rebounding after the initial paucity of opportunities when organizations had put a stop to all new projects at the start of the pandemic in ‘20. It is only in the last year that organizations have started to look to continue digital transformation activities. however, the ongoing push toward remote work has compounded the IT talent scarcity, especially for sourcing niche skills like automation. These organizations hire people with experience in demonstrating these skills. Equipping new students with these skills will not solve the absence of people with niche skills.
At Innovsol, while we plan to build a bench of fresher students and equip them with these skills, we would not expect our clients to hire them for their needs on a T&M basis due to the criteria mentioned above. Hence we will have to take up our projects where these students will be guided by their more experienced senior colleagues who will guide and mentor them.
The brand also provides training; can you share details?
As most of the RPA tools are easily accessible and considerably easy to learn, many developers tend to learn by themselves. However, at Innovsol, we help organizations get their employees to build knowledge of all the advanced toolsets of Robotics Process Automation, including UiPath and Automation Anywhere. Our approach includes case studies, and our trainees get to work on one such project. This allows them to face many challenges as they would in an actual client-facing project. Our trainers help solve such problems and train on how to handle them in real-time. On completion of training, our trainees are ready to work as professional RPA developers.
Our Advanced Training Program has been designed to train batches of 10-12 delegates on advanced aspects of the application. The Training program provides theoretical and practical exposure.
