Kotak Mahindra Asset Management: Automating Business, Kotak Way

by November 5, 2018 0 comments

Solution Requirement

In line with mandatory compliance requirements in the financial services industry, KMAMC started out to identify what parts of the company it wanted to transform and narrowed its vision into Process Digitization, Worker Enablement and Performance Management.

The Equity Research Team now has automated internal & external research report journaling processes. Automation allows researchers to focus on business innovation/efficiency and performance rather than repetitive efforts. It also creates streams of data that can be useful in later
data mining efforts. User creation TAT’s have gone down from almost 3 days today zero as logins are now available to the user on the day of joining itself.

Solutions Deployment

While there were off the shelf products available, KMAMC with its various regulatory challenges decided to custom build a product with a robust platform as the base. It started to customize off-shelf Microsoft SharePoint product primarily for collaborative content sharing tool and then moved into business approvals.

The vision of digital transformation required strong leadership to drive change and the need to identify what parts of the company we wanted to transform. Being a Financial Services company and strict compliance norms in our industry KMAMC decided to build out its own business approval solution using a robust platform as Microsoft SharePoint.

Whether it is in the way individuals work and collaborate, the way business processes are executed within and across the departments, the Konnect initiative provided a wealth of opportunity for transformation, were the IT Team partnered with every department in Kotak Asset Management Company enabling digital transformation.

Solution Benefits

Business process automation (BPA) lowered legal and regulatory risks by classifying and storing content in an orderly manner and making it easily accessible for compliance purposes. Konnect based digital transformation has reduced, in some cases eliminated the direct and hidden costs, wasted time and other adverse effects, such as lost or misplaced documents and incorrect information.

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