Mon. Jul 15th, 2024

How MillenniumIT ESP is Reshaping Enterprises with the Power of Intelligent Automation and Data

MillenniumIT | Technology | Data Science | Sri LankaVice President – Global Alliances & Partnerships at MillenniumIT ESP - Sanjaya Dayananda

The previous decade was defined by harnessing the power of data from several sources. The coming decades will be defined by intelligent solutions that use this data and autonomously generate value. MillenniumIT ESP is a veteran industry leader in intelligent automation & data solutions. For years, the company has stayed ahead of the curve, looking beyond deploying a single system. Rather, its focus is on bringing about a complete business transformation to create truly autonomous enterprises. 

To make this transformational vision a reality, MillenniumIT ESP eliminates traditional silos and integrates several data sources from across an organization. Afterward, it utilizes cutting-edge technologies to harness the power of this data to unlock new insights and drive operational transformation. Thus, ensuring continued business success with high-value integrated solutions that benefit all stakeholders. 

Speaking to Arteculate Asia, Vice President – Global Alliances & Partnerships at MillenniumIT ESP, Sanjaya Dayananda, shared in detail how the company makes such transformations possible to realize the concept of Autonomous Enterprises.  Describing the concept, he explained, “Today, many mature enterprises use complex purpose-built software, yet in isolation to serve a defined purpose only but the data has to play a massive role in bringing all these siloed solutions together and use intelligent automation to embrace the concept of Autonomous Enterprise.

The Role of Intelligent Automation and Data Science

Over many years, MillenniumIT ESP has earned a reputation for using cutting-edge technologies to build robust systems. Further, being a pioneer in the IT industry with 26 years of experience, the company recognized that organizations would need more intelligent solutions to create insights in real-time to stay ahead in the business and achieve continuous success. It simply wouldn’t be enough to collect data from various systems to create reports and dashboards or perform any other analysis to get insights that may require rigorous human interventions.

Instead, future digital systems would have to be truly intelligent and act autonomously. Describing the capabilities of such a system, Sanjaya explained, “We have a proven platform to sense data automatically using IoT and other integrated sources. It is then pumped into the analytics system, which would analyze it using AI, ML, and Computer Vision technologies to create multiple insights. Finally, the system is now intelligent to take action via RPA to bring about these outcomes without human intervention.”

From collecting data to analyzing it to acting on it, each step in the process is an engineering challenge in its own right. But each of them serves as a pillar when combined to form a truly intelligent digital system. With these principles in mind and by utilizing cutting-edge technologies, MillenniumIT ESP builds robust solutions to empower future businesses.  

Empowering industries with intelligent automation

The solutions provided by MillenniumIT ESP, are highly client-specific and developed in an agile manner. Accordingly, the versatility of these solutions is evident, as seen in the following examples shared by Sanjaya:

  • An FMCG corporation dealt with large volumes of waste with its meat products. This wastage was the result of manual control of freezers. The digital solution provided by MillenniumIT ESP, leveraged IoT sensors to automate the temperature control of the freezers. As a result, not only wastage was reduced but also electricity consumption, which translated to lower operating costs.
  • A leading bank received 800,000+ calls every day to deactivate credit or debit cards due to theft or misplacement. On average, the deactivation of a card takes approximately 20 minutes after a customer is connected to an agent. The lengthy wait time gave plenty of time for malicious actors to misuse a stolen card. MillenniumIT ESP automated this process where a customer could send an email or text message to deactivate their card. Behind the scenes, a bot would receive the message, carrying out the necessary actions to deactivate the card in 18 seconds.
  • A large telecom operator struggled with settling its customer bills at the end of the month. The process involved vast volumes of data across multiple systems. “To solve the issue, we implemented a series of automated bots. These bots then consolidated the data from the telco’s ERP and other systems. As a result, there were large-scale efficiencies across the board.”

Unlocking value out of data and intelligent automation 

Typically, most organizations invest in technologies like AI and RPA to reduce costs. As we saw from the above examples, this is usually the case. However, Sanjaya elaborates that such success requires careful planning and diligence. Moreover, these are heavy investments that will change how they work for any organization. Hence, to ensure its clients’ needs are met, MillenniumIT ESP has two simple yet powerful steps it takes early on in the project, which are to carry out a detailed Cost-Benefit Analysis and test a Proof of Concept (PoC).

One of the key benefits of automation for an organization is reduced labor costs. But it is through the Cost-Benefit Analysis that its leaders will be able to clearly visualize these benefits. With this hypothesis in hand, the PoC is carried out to test and validate it. A successful, well-rounded POC would feature a mutually agreed set of goals with a timeline. “So if you have a list of 10 goals and hit eight, that’s a positive development. The solution’s potential is validated at an 80% pass rate,” says Sanjaya. Going through this journey allows an organization to clearly see the impact of such systems and make informed decisions on their investments.  

The team at MIT ESP – its Biggest Differentiator

Sanjaya credits much of MillenniumIT ESP’s success to its skilled team of technology professionals. He states, “We work closely with leading universities to recruit the best talent.” Hence, the company offers an attractive and robust internship program, which serves as a gateway into a career in technology. Yet, this is only the beginning. The company invests heavily in continuous training and upskilling of its workforce in new technologies to better meet the evolving needs of its customers. In addition, partnerships with leading technology platform providers such as Microsoft and Oracle allow MIT ESP to get a head start on new technologies yet to enter the market. 

How should Enterprises gear up for the future of Automation?

Much like self-driving cars, the next frontier of computing will be truly autonomous systems that can operate without human intervention.

In our current times, it’s no longer an option to ignore digital technologies. Organizations everywhere must look at embracing new ways of operating if they are to survive and succeed. Hence, Sanjaya emphasizes the importance of forward-thinking leadership. The benefits of an Autonomous Enterprise are clear for all to see. However, realizing this vision is not something that happens overnight. Rather it’s an ongoing journey that requires a long-term commitment and a vision. Hence, it’s essential that a roadmap is in place to offer guidance at all levels of an organization. 

“Enterprises and their leaders must foresee the immediate need and benefits of leveraging data and automation for their business. Technology is evolving rapidly. So it’s essential that we start somewhere,” he states. However, that doesn’t mean taking a blind leap of faith and automating a single process. Instead, Sanjaya advocates for organizations first to lay out an automation roadmap. “When it comes to intelligent systems, having a roadmap tells us where to start and allows us to adapt to new technologies and market requirements flexibly.”

Sanjaya believes we will eventually see truly autonomous digital systems as technology advances. “Today, we have automated systems, which can take action independently. But there’s still a degree of manual involvement, such as building datasets and training AI models. But in the future, we’ll see truly autonomous systems which will be able to train themselves to carry out tasks. Thus, freeing up humans to pursue their passions and conduct higher-value tasks that require creative thinking.”

By Arteculate

Arteculate is your guide to the Asian tech industry. We give you unparalleled insights, accurate, local tech news, thoughtful features and sometimes scathing opinions on where things are headed. Stay tuned for the best of Asia!

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