Societe Generale Global Solution Center organized an open discussion on ‘Next Gen IT Production – Digital Renaissance’. NASSCOM coordinated this event and we saw presence from industry players such as Thomson Reuters, Goldman Sachs and Sonata Software. This breakfast meeting was conducted on Wednesday, 24th June at Taj Vivanta, Whitefield.
The event served as a perfect platform to discuss the challenges in adapting IT production services to the changing needs of financial services. The industry experts also discussed how they foresee the impact of the changing IT environment to the organizations and operating model. Best practices and constraints of IT production in changing world with key focus on digitization and continuous delivery were the focus.
There was a concurrence from all participants that the clients have become more demanding and their expectations have changed from billing machines to value added services. Financial players have emphasis on “Bill of Health” on IT production Systems to ensure that Production Environments are secure. Compliance is a top priority to reduce Operational Risk. Faster “Time to Market” thru Agile Delivery continues to be a focus under the DevOps Mode and we were glad to hear the industry partners acknowledge the progress of Societe Generale in this regard.
Data Analytics and Statistics collections through experienced profiles as “Data Scientists” on IT Production trends is another paradigm shift towards Predictive Analysis, while in another innovative shift, Cognitive Agents or Virtual Agents thru Machine learning are providing low cost solutions.
Best practices were shared in this forum such as – Teams are working in the Agile mode to reduce the workforce and subsequently the costs, one team works on many processes to ensure lean costs and also software development is being moved to virtual environments to be more cost effective.
This session triggered some thoughts such as the top engineering minds in IT production to ensure that operational risks are reduced and also acquisition of new companies to adopt new products and technology is the way forward. Towards the end of the session, Societe Generale Global Solution Center proposed that NASSCOM should organize such discussions more frequently to allow each organization to leverage from IT Production practices of the industry partners.