BLOCKCHAIN || FINANCIAL SERVICES

 

What is Blockchain?

A very basic definition of blockchain is that it is a globally distributed database technology used for record-keeping like ledgers. The name blockchain is because the data is stored in the form of blocks and they are interconnected to each other.

Major Characteristics of Blockchain:

• Immutable: In the blockchain, you can edit or delete any record, one can only read or update data entries.
  
  
• Decentralized: It is not controlled by a central entity whereas it is controlled and decided by every user who is a part of the blockchain.
  
  
• Security: It is one of the most secure technology in the world with security techniques such as cryptography, hash codes, proof of work, etc which makes it almost impossible to get hacked by someone.
  
  
• Ledger: We all know ledgers used in accounting which are two entry but the blockchain is a triple entry ledger with some extra features.

Blockchain can be classified into two categories

1)Depending on who can read the data

• Open -In this type, everyone can read the data.
• Closed- In this type only certain people can read the read.

2)Depending on who can write the data

• Public- Everyone adds records in this blockchain
• Private- Only a few people can add records.    

Why a blockchain is a good option in the Finance industry?

• Security: Its harmonious based distribution eliminates a single point of failure and reduces the need for data mediators such as transmission agents, messaging operators and inefficient individual resources. Ethereum also enables the implementation of a secure application code designed to prevent fraudulent third party content - making it difficult to hack or cheat.
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• Transparency: Using integrated standards, protocols, and shared processes, it serves as the only true shared source for network participants
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• Trust: Its transparent and flexible ledger makes it easy for different groups in the business network to collaborate, manage data, and reach agreements
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• Integrity: Supports the execution and execution of smart contracts - disruptive evidence, decisive software that creates business intelligence - builds credibility and efficiency
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• Privacy: Provides leading market tools for granular data privacy across the entire software stack layer, allowing selected data sharing across business networks. This dramatically improves transparency, trust, and efficiency while maintaining confidentiality and confidentiality.
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• High Performance: On private and hybrid networks designed to store hundreds of transactions per second and time in network activity
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• Diversity: Supports collaboration between private and public chains, providing each business solution with global access, greater robustness, and high reliability of the mainnet

Blockchain Use Cases in Financial services  

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Capital Markets

• Insurance, sale and trading, Clearing and settlement,
• Post-trade services and infrastructure, asset servicing, custody

Asset Management

• Fund launch, Cap table management
• Transfer agency in asset management

Payments and remittances

• Domestic retail payments, wholesale and securities settlement.
• Cross border payments, Tokenized Fiat, stablecoins, and cryptocurrency

Banking and Lending

• Credit prediction and credit scoring
• loan syndication, underwriting, and disbursement, asset collateralization

Trade Finance

• Letters of credit and bill of lading
• financing structures

Insurance

• Claims processing and disbursement
• Parametrized contracts and reinsurance markets.

Technology and Trends changing Digital marketing in 2020

                                    CHANGING MARKETING ENVIRONMENT 

• Staying ahead of emerging technologies and styles is essential to stay competitive online with Ecommerce sales exceeding $ 4 trillion this year.
• Companies have an immense amount of information in their hands. As technology progresses, so do consumer expectations for the buying experience. 
• Businesses need to understand and apply strategies that will allow them to stand out and communicate with their targeted customers.

In this blog we will highlight some important techniques:

1)Artificial Intelligence: 

• Digital technology is moving at fast speed. Artificial intelligence (AI) is advancing, with impressive tracking, and analytics skills that help marketers make better decisions, increase customer purchases, and drive more revenue.

• AI can use data from blog posts, social media platforms, and other online platforms to help businesses analyze customer search patterns and behavior and understand how customers find their services and products.

• One interesting example of AI automated chatbots. Mastercard has developed a bot - which uses native language processing software to determine what a customer wants and responds as if it is a real person - automatically manages payments
  
  

2)Video Marketing

Video marketing is one of the if not the most important commercial trends today and likely to remain for the next 6-10 years. These data show the importance of using video into your digital marketing strategy by 2020

• 70% of consumers say they have shared a product video
• 72% of businesses claim that video has improved their conversion rate
• 52% of consumers say that watching product videos gives them more confidence in online shopping decisions
• 65% of executives visit the merchant's website and 39% call the merchant after watching the video
  
  

3)Voice search and smart speakers

The increasing application of voice search has made it important for companies to rethink their digital marketing strategies in this year.

• 50% of all searches will be voice search in the next year.
• 55% of all American homes will have a smart speaker by 2022
• 72% of owners of voice-activated speakers say that their devices are used as part of their daily routines
• Voice purchases are expected to exceed $ 40 billion by 2022, up from $ 2 billion today
• Global smart speaker shipping has almost threefold between Quater1 2018 and Quater2 2019, increasing from 9.3 million units to 26 million units

Many brands already incorporate voice search into their digital marketing strategies to deliver value-based content effectively to their customers:

• Patrón Tequila helps consumers access selected cocktail recipes
• Domino’s allows pizza lovers to order from their couch without taking a call or placing an online order
• PayPal users can include Siri to send money to friends, family, or businesses
• Nestlé has created a skill that provides voice commands as you cook
• Campbell’s has the ability to help hungry consumers choose and cook recipes
  
  
  

4)Multi-touch attribution

• We live in a growing digital world. Consumers often see products, and products on their social media channels, web pages, Google search, TV screens, phone apps, podcasts, etc.
• For advertisers who pay for advertising on these different mediums, it is important to understand what touchpoints are leading to the conversion.
• While many offer models point to the first time a customer sees or interacts with your product, this does not tell you what happened next.
• So using analytics and machine learning one can understand all the touchpoints of consumers and help them understand consumer behavior accurately
  
  

SMART GOALS || Make Your Goals Achievable

 

Our Business communication Prof T.Prasad sir gave us a lecture on SMART goals. He told us that to build the career you want Goal setting is a helpful way. You’ll reach your intended target By setting objectives and creating a clear roadmap, to make progress you decide how to apply your time and resources. It can be difficult to determine how you should get a promotion job, or other things you want to achieve without goals.

 

You must include each step necessary for success when you set an objective for yourself. You can appply a framework called SMART goals to achieve it. Here’s how SMART goals work and some examples to assist you in your goal-setting efforts.

 

 S = Specific

 

Your goal should be specific and clear, or else you won't be able to your efforts or truly motivated to achieve. When analyzing your goal, try to answer the five "W" questions:

·         What do I want to accomplish it?

·         Why is this goal important?

·         Where is it located?

·         Who is involved?

·         Which resources or limits are involved?

 

 Example

Imagine that you are currently a sales executive, and you want to become head of sales. A measurable goal could be, "I want to gain the experience  and skills necessary to become head of sales within the organization, so that I can lead a successful team and build my career and."

 

2. Measurable

To follow your progress and stay motivated, it's important to have measurable goals. Assessing progress helps you to meet your deadlines, stay focused, and feel the excitement of getting closer to achieving your goal.

A measurable goal should address questions such as:

·         How much?

·         How many?

·         How will one know when it is accomplished?

Example

You might measure the goal of acquiring the skills to become head of sales by determining that you  will gain the relevant experience within six years' time by completing the necessary training courses and having on the field of experience.

 

3. Achievable

Your goal also needs to be accessible and realistic in order to be successful. In other words, it should extend your skills but always be there. When you set an achievable goal, you can see past resources or opportunities that are ignored or that can bring you closer to the goal.

An attainable goal often answers questions like these:

·         How much realistic your goal is, based on other factors, such as financial circumstances?

·         How can I reach this goal?

 

Example

You may need to ask yourself if developing the skills needed to become a sales manager is possible, depending on your already existing experience and qualifications. For example, Are the necessary resources available to you? do you have time to complete the required training successfully? Can you do it?

4. Relevant

This step is about making sure your goal is important to you, and goes along with other relevant goals. We all need help and support in achieving our goals, but it is important to maintain control. So, make sure your plans are moving everyone forward, but that you are still in the process of achieving your goal.

The right goal can answer "yes" to these questions:

·         Does this seem beneficial?

·         Is this the right time?

·         Is this consistent with our other efforts/needs?

·         Am I the right person to reach that goal?

·         Does it apply to the current social and economic environment?

Example

You may want to acquire the skills to become a sales head within your organization, but is it right time to do the necessary training, or work to get more degrees? Are you sure you are the right person for the head of the sales role? Have you considered your Patner's goals? For ex, if you want to start a family, finishing training in your free time can make this very difficult?

5. Time-bound

All goals require a set date so that you have a specific time to focus and something to work on. This is part of the SMART policy that helps prevent daily activities from taking precedence over your long-term goals.

A time-bound policy often answers these questions:

·         What is the deadline?

·         What can one do six months from now?

·         What can one do six weeks from now?

·         What should or can be done today?

Example

Acquiring the skills to become a sales head may require additional training or experience, as mentioned earlier. Do you need more training, to qualify for certain tests or qualifications? How long will it take for you to acquire these skills? It is very important that you are giving yourself time to achieve the small goals needed to achieve your ultimate goal.

 

BUSINESS OPPORUNITIES || SAAS || NASSCOM

WHAT IS SaaS? 

• Saas is a software distribution model in which a service provider hosts applications for customers and makes them available to these customers via the internet.
• SaaS is one of the three major categories of cloud services, along with platform-as-a-service(PaaS) and infrastructure as a service(IaaS).
• SaaS companies offer a variety of business applications, including customer relationship management (CRM),   email and collaboration, sales management, human resources management, billing/payroll processing, financial management,  enterprise resourcing planning (ERP), database management, content management, and document editing and management.

GLOBAL AND INDIAN SaaS MARKETS

• The global saas market is valued at $100 billion with more than 12000 saas companies.
• Top 5 SaaS companies-Microsoft, salesforce, adobe, and oracle.
• Indian saas revenues growing at 30% annually  with $3.5 billion in 2020
• Key domains adopting SaaS: BFSI & CPG, Healthcare AND Wellness with BFSI being the highest.
• Six major SaaS companies in India -Zoho, Freshworks, Druva, Icertis, HighRadius, and Postman—and is expected to see the emergence of many more by 2025
• The industry is also seeing an increase in investor sentiment from key Indian and global investors. SaaS funding in India has grown by 15% CAGR over the last 3 years.
• The Indian SaaS industry today has more than 1,000 companies with 150+ companies generating an annual recurring revenue (ARR) greater than $1 million and is on the way to become the global hub for SaaS

Strategy for the playbook for India SaaS 

Indian SaaS Companies need to have a strategy that is a combination of price, GTM, and product which solves many purposes.

• Ensuring business continuity During times of crisis
• Engage with customers and evaluate partnerships
• Invest in sales and marketing and create flexible pricing
• Drive thought leadership & employee engagement and look for inorganic growth
• Enhancing the existing value proposition
• Product enhancements and Build domain expertise.
• Use digital technologies to build user-friendly and automated products.
• Develop multi-lingual capabilities and build domain-specific innovation centers.
• Utilizing Emerging opportunities
• Customize GTM strategies and identify growth opportunities
• Drive innovation and comprehensive growth strategy

Artificial Intelligence a Key component of SaaS feature

• Personalization
• By analyzing customer behaviors, AI can enable companies to create customizable user interfaces.
• Enhanced security
• AI can be used in SaaS products to enhance automated threat detection.
• Increased efficiency
• AI can be used to automate internal code deployments and also to minimize code errors

Future of SaaS by 2025

• Government and MSME as adopters
• Digital transformation of MSMEs through Indian SaaS
• Strong Government push for procurement of Made In India SaaS products
• Strong Funding Pipeline
• 3-4X annual funding, required to grow India SaaS market by 6X. 
• Short term financial support to maintain business continuity in the short-term
• Build the SaaS India Brand
• Build Brand India for SaaS through marketing, visibility, and trust • 
• Promote tier-II/III and non-metro locations to develop SaaS companies in India; develop SaaS to be a geo-agnostic solutions provider
• Shape the Next Gen SaaS Companies
• Robust non-VC funded model required to grow current SaaS industry base by 2-3X
• The government can dedicate 30-40% of the Fund of Funds for start-ups to promote entrepreneurship in SaaS
• Create awareness among start-ups to develop and register Intellectual Property (IP) as a requisite item

Operations || Demand Planning || Supply Chain || FMCG

 Demand Planning in times of COVID-19 for the FMCG Industry.

During the corona pandemic, the Fast-moving consumer goods(FMCG) industry registered a spike in demand for their products. The crisis has also changed consumers' behavior making it difficult to predict rapidly changing demand patterns. Due to this the current supply chain is struggling to keep up and now changes are required in the way demand forecasting and planning are done by FMCG Companies.

1)Point of Sales data

The first thing that can be done is to collect and analyze point of sale data collected through store scanners. This data can be used to determine the shift in demand patterns for products and then accurately forecast the mix within the average market basket. It is very important to focus on forecasting the lower product mix as it will indicate which items have the highest demand and which will have the lowest demand. Using this approach companies can not only improve shipment forecasts but also detect turning points in demand patterns.

2) Use of New technologies

Traditional planning system tools are disconnected, fragmented, and cannot respond quickly to this rapid pace of change. So companies should implement advanced analytics and machine learning algorithms which can help abnormalities quickly and predict the shift in demand accurately. For example, many companies that implemented a new SAS (solution designed to forecast warehouse shipments) were performing very well in handling the shift in demand patterns as compared to traditional system. 

3)Resilient Supply chain

Due to the uncertainty caused by COVID-19, its planning by focusing on each planning horizon. Immediate to short term, short term to medium term and long term. In the immediate-term, to short term horizon, the focus should remain on resolving execution challenges and making forecast for around one to eight weeks. The other horizons will be for when the corona crisis begins to subside, and demand returns to the normal, how do we adjust the demand history.

Patterns in consumer demand are varying across countries and product categories more than ever. So
now there is a need for collaboration and full transparency between the company's supply chain partners. This collaborative approach will help create a much more accurate forecast.

Scenarios will also be needed to develop for the future. for example, consumers may be more health-conscious after COVID-19, so they might move towards ayurvedic products. what do these changes in consumer behavior mean for demand in different categories? which changes will impact how the supply chain is designed and managed? Demand planning teams will have to lead discussions on scenario planning and verifying assumptions.

4)Role of Social Media

A social media information can also be incorporated into the demand forecasting and planning process by customer sentiment. Text mining and sentiment analysis will allow companies to monitor social channels for consumers' comments on product availability. what is trending and store purchases? once large enough customer data is gathered, companies can apply sentiment analysis to determine which products are moving rapidly off shelves, which ones are out of stock, as well as additional changes in purchase patterns.

Guest Faculty || Tech Darwin Founder " Nikhil Kulkarni "

Today we had guest speaker Mr. Nikhil Kulkarni , Alumni of NITIE and co-founder of Darwin Tech (www.techdarwin.com), a travel technology B2B startup working on products for the leisure holiday market. He has previously worked with KPMG for more than a decade consulting with corporates and enterprises especially in dealing with emerging technologies and product and program management. 

We talked on four important points which were:

a)Business Communication in Consulting- 

• He discussed the role of communication in consulting. Communication is 80% , Research is 5% and relationships are 15% in the consulting world. As you start having more experience in the consulting industry communication role goes down to 70% and Relationships role may increase. 
• Excel and PowerPoint will be your best buddies in any industry you work at least in the first 15 years of work.
• The best consultants are the people who are the best Communicators.
• For Proposals and Reports -PowerPoint or word, For executive briefing -Powerpoint , For Detailed projects- Word, For Work papers -Excel or Word.
• We discussed the Pyramid Scheme for structuring your document.

        

b)Structuring your content :

c)Tips and Tricks : 

• Making an impact using your presentation is less about content and more about how you present the content. 
• Begin with a startling statistic image.
• A quotation from someone famous that is relevant to your presentation
• A video to grab attention, a question, and an activity.

d) Creating a Personal Brand:

• A personal brand is something or someone whom you recognize for who they are , they don't need an introduction or a CV to know them.
• A personal brand allows a person to self-manage their life without having to depend on others.
• It builds credibility as a thought leader and expert in an area of specialty.
• Building a personal brand makes people comfortable while working with you because then they know your authenticity.
• You can build personal using many mediums , most important ones are -
1. Blog - Medium/Wordpress/Blogger.
2. Twitter.
3. Youtube Channel.
4. Instagram Facebook.

     

 

     

MahaMandi 2020 : Campaign Video

 In keeping with its annual tradition, the MIG of NITIE has organized MahaMandi 2020, a marketing festival in August 2020. This is aimed at giving students a first-hand experience of selling in an open market. They become conversant with consumer behavior and various aspects of the product life cycle. This calls upon the young management students to conceptualize, sell, and learn or "Socho, Becho, Sikho."

With a renewed thrust on self-reliance, it would be unfair if this event remained untouched by the theme of "ATMANIRBHAR BHARAT." The COVID 19 pandemic has exposed the supply value chains globally, and hence the atmosphere is pretty uncertain. Small local businesses bear the brunt of this uncertainty. In order to help them resist the 'force majeure,' usage of indigenous ingredients and labor has to be given to priority. This translates in the form of being VOCAL for LOCAL.

So my friend Akash and I have chosen a very noble initiative "KALAKRITI" to promote. This is an initiative run by a small group of people who provides employment opportunities to local women by teaching them and selling Customized, Handmade and Environmentally Friendly products made from scrap items.

Swadeshi Mandi 2020 || NITIE || Vocal for Local || Kalakriti

  

On 74th Independence Day, Our honorable Prime Minister Narendra Modi addressed the nation and reiterated the importance of ATMANIRBHAR BHARAT.To support this "VOCAL FOR LOCAL" initiative, we the students of the National Institute of Industrial Engineering (NITIE) in association with the Marketing Interest Group(MIG) has organized  Digital MAHA MANDI 2020 to promote the "LOCAL" which was the idea of our Professor T Prasad #MANDISIR.

So I and my friend Akash Thakur have chosen a very noble initiative "KALAKRITI" to promote. This is an  initiative run by a small  group of people who provides employment opportunities to local women by  teaching them and selling Customized, Handmade, and Environmentally Friendly products made from 

scrap items.

 

We have handmade products made by local women ranging from home decoration, kitchen & dining, jewelry, bags, and many more.

When you buy these handmade and environmentally friendly products you are helping the environment, local community, and taking a step towards making INDIA ATMANIRBHAR.

SO ORDER NOW!!!!

First Day of Business Communication || Mandi Sir || Prof T Prasad

 Although it was a unique experience of attending college through an online medium, it was not something expecting on the first day of my class. We were ready for the lectures as per the given schedule, in the morning. After waiting for several minutes, a gentleman came on the screen wearing a Nehru cap and a big positive smile. He was Professor T Prasad also known as 1/12 Mandi Sir.

Suddenly, Professor started saying, people don't need any education, people don't need any thought control, all in all, people are just another brick in the wall and i couldnt agree more that as this was something I have been feeling from some time. Suddenly, a video song starts and it’s a famous Pink Floyd song. He made us understand that whatever we will learn here, we will be going to be just a part of a big venture, we will lose our own identity and you will be known by that big company only. Sir started discussing various problems that have developed now. He said that they are an opportunity, not problems. Opportunity to prove yourself, the opportunity 

to achieve success. I learned an innovative learning method Which is in his words

"SOCHO BECHO SEEKHO"  

"Bechna is learning , Abhi bechna is selling, khud bechna is learning".

Also, a very insightful thing that I learned was Education expenses are earned by the learner

 oneself, in education, through education, and in education. One should earn at least 1/12th of

 money for his fees during his education.

In Marathi -"Shikshana na kharcha ,shikshana sathi ,skhishana karitha ani shikshana madhe."

H taught a lot about entrepreneurship. He stated many examples of successful entrepreneurs 

from NITIE itself. In which many of them started looking at the opportunity during their 

course only.

Some successful startups from NITIE are

Zayka ka Tadka

https://www.youtube.com/channel/UCFOTYZswxgmeR6KZuI-H2Gw

Crop Wheel

Shopify

https://www.cashify.in/

Mandi Sir channel

https://www.youtube.com/channel/UCCttfZHvP4BZyKH_DOUD28A