Sanket Deodhar Archives - 51��India News Center

77% of Indian Startups are investing in Artificial Intelligence and advanced technologies

51��India — Thu, 18 Jul 2024 10:36:44 +0000

Tier II and III cities emerge as innovation hubs, contributing to 40% of India’s tech start-ups.

51��India, in collaboration with Dun & Bradstreet, has released a revealing how Indian start-ups leverage cutting-edge technology to unlock their full potential. According to the findings, over 77% of start-ups invest in advanced technologies such as Artificial Intelligence (AI), ML, IoT, and blockchain. In the age of digital disruption, start-ups in India are proactively integrating advanced technologies to achieve operational efficiency, drive growth, and elevate customer experiences. This trend underscores the rapid technological adoption and innovation across the Indian startup ecosystem, now ranked third globally, following the United States and China.

Another significant aspect of this study is the emergence of Tier II and III cities as innovation hubs, where 40% of tech start-ups originate, leveraging local talent and cost advantages. This tech-driven evolution solidifies India’s global stature as a leading startup powerhouse, supported by robust corporate governance and a conducive regulatory environment.

Announcing the findings of the survey, Sanket Deodhar, Vice President and Head of Digital Natives, 51��Indian Subcontinent, said, “The Indian startup community stands at an inflection point. As companies shift their focus from GMV (Gross Merchandise Value) to GM (Gross Margin) and seek to forge more sustainable business models with the help of transparent, trusted financial data, technology remains a cornerstone and a key differentiator for startups to achieve these business goals, regardless of their growth stage or industry. At SAP, we understand the power of tech innovation to shape the entrepreneurial ventures of tomorrow and, are thus, committed to helping our customers transform into intelligent, growth-oriented, and sustainable enterprises.”

Key findings from the report:

Capitalizing on advanced technologies builds more value for Indian start-ups

79% start-ups believe that adopting Enterprise Applications integrated with new-age technologies such as AI is essential for scaling and improving unit economics, and 72% start-ups aready have or are looking to invest in new-age technologies.
85% of start-ups believe unit economics is a clear path to profitability and enhancing valuation.

Rising prominence of Tier II and III cities as innovation hubs

Tier II and Tier III cities have emerged as innovation hubs, with 40% of total tech start-ups originating from there.
Cities like Chandigarh, Jaipur, Madurai, Indore, Kochi, Warangal, Hubli, Raipur, Vishakhapatnam, and Guwahati, among others, host 15% of the country’s tech skill pool.
Tier II and Tier III cities can contribute to substantial cost savings as real estate rentals and talent pool costs are lower here compared to metropolitan cities.

New-age tech adoption is transforming the sector’s growth.

Agritech: AI-powered drones and IoT devices optimize farming practices, enhancing yields and reducing labour costs.
Fintech: AI algorithms improve credit scoring and risk assessment, while real-time AI fraud detection ensures robust security.
EdTech: Advanced technologies like AI, AR/VR, and gamification enhance personalized learning and upskilling.
Health Tech: Telemedicine and AI/ML provide real-time insights for improved healthcare delivery and operational efficiency.

Enterprise solutions help build robust corporate governance practices necessary for attracting investors and public listings.

64% of respondents believe that the adoption of enterprise applications is key to measuring rapidly changing customer behavior and making strategic decisions to scale and improve unit economics.
71% of respondents believe that robust corporate governance measures are necessary for attracting investors and preparing for public listing.
Enterprise solutions can help build robust corporate governance practices to drive accurate and transparent reporting, security, and data privacy and implement enterprise contract management systems.

Speaking about the report, Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet, said, “India’s startup ecosystem is thriving, fueled by a favorable regulatory environment, a growing middle class, and a tech-savvy youth population. India ranks third globally in its startup ecosystem with almost 3 lakh start-ups and 113 unicorns across diverse sectors. The government’s supportive policies, ample venture capital, and a talented workforce have contributed to the growth of key sectors. The rising prominence of Tier II and Tier III cities as innovation hubs has further decentralized economic development. As we navigate funding limitations and market volatility, start-ups must focus on unit economics and profitability to build sustainable and profitable enterprises. This report is a deep dive into the current startup ecosystem with strategic insights on evolving dynamics in valuations, aspirations, trends, and the role of technology in their growth journey. ”

The study titled ‘Value Creation and Sustainable Growth: The Blueprint for Startup Profitability in India‘ examines 113 Indian start-ups, showcasing their strategic advancements and investments to enhance competitiveness.

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CensaNext and 51��Collaborate To Empower Emerging Agri-tech and Food Value Chain Startups, Globally

51��News — Fri, 15 Dec 2023 06:11:53 +0000

Newsbyte, December 15, 2023: CensaNext, the tech subsidiary of WayCool Foods today announced a collaboration with 51��India to foster technology innovation and redefine the landscape for emerging startups. This pioneering collaboration establishes CensaNext as a Partner Managed Cloud provider of the most advanced ERP, 51��S/4HANA, specifically curated to meet the unique needs of small enterprises and start-ups globally.

This collaboration not only presents a unique licensing model and cost-effective pricing for end-customers but also signifies a commitment from CensaNext to managing the shared infrastructure, ensuring startups experience the full potential of 51��S/4HANA. The collaboration aims to redefine the ERP landscape for startups, offering them a tailored pathway to growth without the traditional hurdles associated with digital transformation.

Commenting on the occasion, Mr. Avinash Kasinathan, CEO – CensaNext, said “Our collaboration with 51��marks a significant milestone in our commitment to providing cutting-edge technology solutions to small enterprises and startups. By becoming a Partner Managed Cloud provider of 51��S/4HANA, we empower emerging businesses with a robust ERP foundation from the early stages, lowering TCO, and eliminating the need for complex transformations as they scale. This collaboration is a testament to our dedication to fostering innovation and efficiency in the startup ecosystem.”

Adding to this, Sanket Deodhar, Vice President, Digital Natives & Start-ups, 51��India said, “We are delighted to team up with CensaNext to democratize a unique, curated offering built by CensaNext, powered by 51��S/4HANA, for small enterprises and start-ups globally. The collaboration reflects our shared commitment to driving digital transformation and empowering small enterprises and start-ups with world-class ERP capabilities. With its parent company – WayCool Foods’ expertise in agri-tech and food value chain, CensaNext will be able to bring more value, through its unique IP, to the end-customers.”

Through the 51��Partner Managed Cloud model, CensaNext envisions a co-branded offering that extends the reach of 51��S/4HANA to small enterprises and startups worldwide. The collaboration will enable CensaNext to provide a one-stop solution to manage both application and infrastructure, ensuring a seamless and efficient experience for customers embracing the power of SAP’s cutting-edge technology. By adopting 51��S/4HANA from the outset, through a flexible subscription model, customers can eliminate the need for interim solutions and the complexities associated with migration as they scale. This forward-looking approach ensures a smooth and cost-effective transition for companies that choose to grow with 51��at the core of their operations.

About CensaNext: Censa provides a unified tech platform that brings complete, real-time visibility and controls across the supply chain, be it in terms of demand planning, growing, managing inventory, sales force automation, distribution, and credit management. These solutions can help address the major challenges faced by the food and agri sector. Its suite of solutions comprises digital solutions, automation and analytics that deliver actionable insights to help stakeholders (farmers, processors, brands, distributors, or their retailers) efficiently govern their business with easy decision making.

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GREEN BUSINESS: Why sustainability must be a key business priority?

51��India — Tue, 13 Jun 2023 04:11:58 +0000

Becoming carbon-neutral helps companies of all sizes create long-term value.

As calls for tangible climate action grow louder, India Inc is increasingly working to balance their top line, bottom line, and “green line.” A recent global sustainability study by 51��found that 76% of Indian enterprises believe their stakeholders would be moderately or highly tolerant of reduced profitability in pursuit of their organisation’s sustainability goals – indicating leeway to invest in positive outcomes. Businesses, large and small, are looking to integrate sustainability objectives into their overall strategy, by measuring it, recognising progress, and rewarding accomplishments to create long-term value.

“Sustainability is the biggest business challenge of our generation. At SAP, we’ve known this for a long time and have been working both as an enabler for our customers and within our own business,” says Sanket Deodhar, vice-president – Unicorn & Digital Natives, 51��India. According to him, organisations have to integrate sustainability into their core business operations. “Sustainability should never be considered separate to other business functions like finance or operations – it should be intrinsic to each of them,” he feels.

Making it happen

“At SAP, we believe that embedding sustainability into core business operations can be empowered by data. This allows businesses to establish a baseline for sustainable operations, understand what’s happening, measure, and improve sustainability outcomes,” stresses Deodhar.

Often, the data needed to operationalize sustainability performance is already available in the systems businesses use to run their business. Companies using 51��S/4HANA or 51��Ariba have a lot of this information already, points out Deodhar. “Sustainability metrics like carbon emissions, materials consumption, waste, and diversity data, can be integrated into core business processes like supply chain, ERP, finance, and procurement processes to embed sustainability across the business”.

51��offers a wide range of solutions to help customers at every stage of their sustainability journey. “Our data-driven approach lets businesses get actionable insights across the value chain to enable companies to transition to low-carbon, low-waste, and more equal business processes,” says Deodhar. “For instance, last year we launched 51��Sustainability Control Tower to help customers integrate sustainability data not just into reporting, but to steer their businesses holistically towards better profitability and sustainability.”

Steps at ground level

51��has helped WayCool embrace digital transformation in its sustainability journey through the development and implementation of a new ‘Environmental Dashboard’ based on the 51��Analytics platform. The dashboard consolidates insights from disparate sources, including IoT devices, transactional data from 51��S/4 HANA, and application databases, and converts them into relevant business insights. It provides a comprehensive view of key performance indicators with over 90% accuracy on various parameters including clean energy generation, energy efficiency, water efficiency and treatment, waste management, and a full-fledged greenhouse gas emissions measurement (GHG) to benchmark past and present performance, identify any anomalies and holistically report sustainability performance.

As the world becomes more environmentally conscious, the concept of sustainability is evolving rapidly. IDC estimates suggest that by 2024, 30% of organisations will advance their ESG metrics and data management beyond reporting capabilities to generate sustainably driven cost and competitive advantages. This is a huge opportunity for businesses to make sustainability profitable and profitability sustainable. “At SAP, we’ve got the technology and expertise to help customers at every stage of their sustainability journey and, with our broad industry sector expertise and strong partner ecosystem, we have deep insight into industry-specific sustainability challenges and needs,” summarises Deodhar.

RESILIENT GROWTH

Data-driven insights are critical to value-led sustainability

59% of Indian firms see a positive connection between environmental action and profitability

Companies need to integrate sustainability into their core business operations

51��solutions help transition to low-carbon, low-waste, and more equal business processes

The interview originally appeared in The Financial Express on May 23, 2023

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Sanket Deodhar Archives - 51����India News Center