The Winning Strategy
The Digital Transformation Summit & Awards is exclusively designed with an aim to bring together the CXOs and International Experts from various domains and to give them a platform to share their digital transformation journeys and best practices. This year the DX Summit & Awards witnessed a total of 112 members who participated for the Awards out of which 17 companies received the DX Trophy for Best Practices in Digital Transformation (Most Innovative & Innovative category) from Mr. Sawhney.
Here are the unique practises followed by some of the winning companies which helped them bag the prize.
Most Innovative Category
Digital Dispensary (Telehealth Services): Uniqueness of this solution lies in focus on rural primary care, accuracy thanks to connected devices, online upskilling program, prescription with consultation and above all future-readiness thanks to sustainability and scalability
eClaims for Micro-retailers and Partner Channels: Instant claim settlement through an e-settlement app empowering the dealer and SMS the offer to the customer, secured via OTP. This has resulted in an improved NPS and an instant claim settlement of 50%. Moreover, now there is a mechanism for balance claims settlement through back-office enabled by the app and even tire replacement at home.
Customer Experience – Integrated and digitally-enabled customer experience leading to not only customer delight but also better loyalty, brand image and lead generation. Over a period of 2 years have driven great change in leveraging digital for just reach to engagement to conversations with excellent growth across all metrics.
Dispatch Automation through Cognitive Robotic Process Automation – A digital transformation journey of maturity from cost arbitrage to innovation leadership. It has resulted in total savings of $8mn globally.
Email Address Internalization: Aimed at providing internet and email services to the huge majority of vernacular language users/non-English speakers, this solution provides email ids in vernacular languages. With ~8 lakh users already registered, it is creating a massive social impact by bridging the digital divide.
Instant Demat - Be Capital Market Ready in 60 seconds: Revolutionary first of its kind service which has changed TAT for demat account opening from 48 hours to 60 seconds by seamlessly automating the process from account opening to despatch of the welcome letter. The number of accounts increased by 450 % MoM since the implementation of this solution.
Karur Vysya Bank
Digital Loan Processing: First Indian bank to provide digital loan sanctioning with digital SME application, in principle sanction within 15 minutes and disbursement in 2-3 days. With 90% retail & MSME loans now digital, key benefits include low TAT, better credit quality, scalability and lower acquisition cost. Moreover, this has led to great environmental impact with about 46,500 trees saved thanks to reduced paper.
Amrit Cement Ltd, Tata SIA Singapore Airlines, ASK Asset and Wealth Management Ltd, Data Ingenious Global Ltd, Kotak Mahindra Bank Ltd, Larsen & Toubro Ltd, Rolls Royce India Pvt. Ltd, Tata Communications, Tata Motors, UST Global, Willis Towers Watson India Insurance Broker.
To read more about the winners and the flagship event, click here.
We at CDT, help our member organizations execute digital processes, models, and connect with industry professionals to take complete advantage of a wide variety of digital technologies and innovations in a method that takes into account the ever-shifting digital landscape.