The Mavericks-CTO Conversations powered by Matrix Partners gathers technology executives from Digital Native Businesses in India who have faced challenges and used technology to deliver, endure, and grow amid a crisis to share their experiences, many achievements, and even mistakes.
In a discussion moderated by Mr. Salil Panchal of Forbes India, the industry leaders talked about how modern apps disrupt economic structures, payment operational mechanisms, and customer behavior. When everyone's investing millions in technology, relying on relevant apps can help you get more done. However, with over 500 million new apps projected to be developed over the next five years, businesses will need to balance controlling technology and offering unique services. It is the responsibility of the CTO to implement this tool.
The esteemed panel comprised industry leaders like Sanjay Suri, CTO and CPO of Nykaa, Rakshit Daga, CTO of BigBasket, Arvind Neelakanta, Tech evangelist at Epic Games, and Satinder Pal, Solutions Architect for DNB at AWS.
Modern Apps Changing The Landscape of DNBs
DNBs understood the need for modern apps, and this early mover advantage gave them the pivot to grow their businesses during the pandemic. They also helped remove the vulnerabilities of the legacy platforms.
In conversation with Mr. Rakshit Daga, he shared his insights on how modern applications are plugging the holes in the value chain of their business. He said, “Modern applications are the cornerstone of a business like ours. It’s all about setting up an infrastructure that can help you scale, grow and optimize costs. Every modern app went for an auto-scale model. The first phase of the pandemic tested every modern architecture capability of scaling and existing fault lines. Since we had a predominant architecture, we could respond to the 6x traffic with ease.”
Mr. Arvind Neelakantan also shares his views on how DNBs are re-imaging business models post-pandemic. He shares, “During the pandemic, we had to provide the right tools and train the people who wanted to contribute to the metaverse but could not do so. Here is where modern applications play the role of agility. We had to speed up the process fast, as people worked remotely. They had to continue with the processes without relying on the hardware at their workplace. We developed a virtual machine platform on AWS, where one could log in to the cloud and have instructor-lit training happening through the platform.” Leveraging The Agility Of Modern Applications
Mr. Sanjay Suri also shares his insights on how a business can leverage the agility modern applications provide. He says, “A modern app is not just what you install on your phone. It’s everything that goes into configuring, supporting, and building it. Our beauty app had a personalization component which helped us adapt to the pandemic challenges. With geolocation- we could locate the customer; and keep up with orange, red, and green zones. If the user was in the orange zone, we would limit the catalog to essentials only and so on. COVID opened up a multitude of possibilities- personalization and hyper-local deliveries. We based our model on maximizing the use of components that help build the app.”
Mr. Satinder Pal also shares his views on the increased acceptance and adoption of businesses to technology; particularly modern applications. He said, “The value proposition of digital has never been simpler. There’s a realization that businesses, thinking deeply about technology and cloud services, are coming out of this crisis stronger.
A report by NASSCOM showed that the tech intensity of Indian enterprises went up from 2% to 5%. Organizations are striving for agility to innovate and respond to these changes. With uncertainties looming on our heads, businesses have realized the need for modern applications.”
We’re all living through an exciting period of technological change. It’s here to stay. In the last 5 years, we’ve seen an immense reliance on cloud computing, connectivity with artificial intelligence, automation, and interactive technologies. They’re growing and revolutionizing how we work, how we interact, and more. The door has just opened up!