The world is ready to embrace Industry 5.0, and it’s high time to eliminate manual processes, at least for repetitive tasks. India’s tech giant, Infosys, faced a difficult challenge in 2017. Hundreds of the company’s manual processes kept piling up across various departments, causing inefficiency, delays, and inconsistencies in service delivery and revenue. They realised it was time to change how they approached their processes and embarked on their journey towards process automation and virtualisation. As a result, the company had automated 85% of its operations and processes till 2020 and had deployed virtual environments for testing and development purposes. The result? A 30% reduction in operation costs and a 40% increase in productivity. This helped them streamline their processes and embarked on a new era for IT companies in India.
Process automation, once merely a buzzword, is now a critical component of modern business operations. In India, the adoption of process automation has accelerated significantly in recent years, driven by an ever growing need to improve efficiency, reduce costs, and stay competitive in a rapidly evolving global market at home and globally. According to a 2023 report by NASSCOM, the Indian process automation market was valued at $4.5 billion in 2022, with a projected growth rate of 20% annually, expected to reach $11 billion by 2026.
Indian companies across various sectors, from manufacturing to banking, are increasingly turning to automation to optimise their workflows and make their processes efficient and fast. For example, HDFC Bank, one of India’s largest private banks, implemented robotic process automation (RPA) in its back-office operations, resulting in a 70% reduction in processing time for loan applications. You see, most of the time-consuming and inefficient processes are done at the back office. So, people might not see the extent to which corporations have automated themselves, but it’s quite evident in the way they conduct their businesses. Another example is Tata Steel. The steel giant of India leveraged automation in its manufacturing processes, leading to a 15% improvement in production efficiency and a significant reduction in energy consumption, which has become one of the biggest concerns for the manufacturing sector in India.
Virtualisation: A New Frontier
While automation focuses on streamlining existing processes, virtualisation takes it a step further by creating digital versions of physical environments. Virtualisation allows businesses to simulate real-world scenarios in a controlled, cost-effective manner. This technology is particularly valuable in areas like software development, where virtual environments can be used for testing and deployment, reducing the need for physical infrastructure. The first sign of virtualisation in workplaces was seen in the Covid era. When offices were all closed, the executives had to conduct their regular meetings, which were conducted using video chats, which is also an example of virtualisation.
India’s IT sector has been a pioneer in adopting virtualisation technologies. Companies like Infosys and Wipro have embraced virtualisation to create virtual labs and data centres, enabling them to deliver services more efficiently. A study by Gartner in 2023 estimated that 75% of Indian enterprises are now using some form of virtualisation, contributing to a 25% reduction in IT infrastructure costs.
The Synergy Between Virtualisation And Automation
Process automation is a game-changer for cutting down costs and boosting efficiency. Imagine automating something as simple yet crucial as attendance tracking in the workplace. Gone are the days of manual logs—most modern offices now rely on biometric systems to capture employees’ check-ins and check-outs with just a fingerprint or face scan.
These systems streamline attendance and offer a virtual dashboard accessible with a User ID and password. This dashboard lets authorised personnel view and manage all employee logins and logouts in real-time while also providing the flexibility to adjust entries if needed. This entire process falls under virtualisation, where physical tasks are transformed into seamless digital processes.
Together, automation and virtualisation have changed workplace dynamics and made processes much more efficient and cost-effective. Now, a company does not need a person to keep track of employees’ attendance; rather, software is here to do it for you.
Moreover, companies use virtualisation to test their products in a virtual environment. A case in point is Cipla, an Indian pharmaceutical giant. Cipla implemented a combination of automation and virtualization in its R&D processes. By using virtual environments for drug testing and automating data analysis, the company reduced its drug development cycle by 20%, enabling faster time-to-market for critical medications. This approach has bolstered Cipla’s competitive edge and contributed to the global fight against diseases like COVID-19.
The Unique Indian Perspective
India’s approach to process automation and virtualisation is unique in several ways. Firstly, Indian companies are known for their cost-consciousness, which has driven innovation in implementing these technologies. For instance, Indian startups are developing low-cost automation solutions tailored to the needs of Micro, Small, and medium Enterprises (MSMEs). These affordable and scalable solutions enable SMEs to compete with larger players. It is worth noting that India has around 6.3 crore MSMEs, making developing such solutions a necessity.
Secondly, India’s vast pool of tech talent is a significant advantage. With over 40 lakh IT professionals, India has the expertise needed to drive automation and virtualisation initiatives in more than one industry. This talent pool also fosters the growth of homegrown automation tools and platforms. Zoho, an Indian software company, has developed its own suite of automation tools that are gaining popularity globally, demonstrating India’s capability to lead in this space.
