Cloud today has become an imperative for improving business productivity while optimising costs. It can improve agility, resource utilization, and optimisation of staff productivity. Hence, organizations need to explore the benefits of deploying cloud for flexibility, agility and scalability. Most reports suggest that a majority of organizations have plans to significantly increase spend on cloud services in the next one year. In an interaction with dynamicCIO Executive Editor Muqbil Ahmar (DC), Vinit Dixit, Head-IT, Lipi Data Systems discusses the latest trends in the IT peripheral segments, the criticality of cloud technology for its current business growth and future business resilience, and the company’s digital innovation roadmap, among several other points. He also talks about the significance of cloud partnership with Oracle.
Dixit claims that to support its growing business aspirations, Lipi is leveraging cloud technology to improve overall operational efficiencies and accelerate innovation. Through partnership with Oracle, Lipi now has made its shift to cloud to drive faster growth. He points out that the decision to move to Oracle Cloud Infrastructure was in line with its requirements of a cloud partner that offers superior security, high performance and greater cost benefits.
DC: How did the IT peripherals industry get impacted last year?
VD: The world was severely challenged last year. Every organization, across industries, had to fine-tune their BCP on a war footing. IT became an even more critical function for organizations to minimize disruption and continue to serve customers. With the rise in remote working, generally speaking, demand for IT products and services are on the rise, driven by the rising need for cloud, collaborative workplace technologies, mobility, cybersecurity etc.
As an industry, the global computer peripheral equipment market is expected to grow to $506.9 billion in 2023. New growth opportunities for the sector are emerging as companies are starting to revisit their digital transformation journey with high-speed secure infrastructure and multi/hybrid cloud leading as the emerging tech spend areas. Data, AI, IoT and Cyber Security remain the key tech themes.
DC: How did you weather the impact? What new challenges did you face last year?
VD: Fortunately for us, we have always prioritized innovation and deployed modern technologies to drive growth. As we were fairly advanced in our digital journey, we were able to better deal with the unprecedented challenges. Our strong digital focus also helped make sure there was minimal business impact, with our operations continuing smoothly, in spite of most of our employees working remotely. Also, the digitized workflows has enabled our teams to better work remotely. More importantly, we were able to help our clients continue to serve their customers effectively.
DC: Do you believe a digital-first and cloud-first approach is a prerequisite for IT peripherals companies?
VD: Yes, indeed. To succeed in the digital economy, I believe every business has to adopt a strategic cloud-first approach. Just take last year as an example. Those businesses that had a strong digital foundation, underpinned by cloud, were the ones that were able to better weather the impact. With most organizations restrained from having their people access their datacentre and development centres, cloud really came to the fore and helped teams gain
access to resources securely and efficiently.
DC: How has cloud helped you in maintaining business success and continuity?
VD: We have been fortunate as a business to consistently clock growth year on year for a number of years now. However, we quickly realized that our legacy IT setup couldn’t keep pace with our growth. Moving to the cloud was a smart choice, something that has paid off for us and has been acknowledged by the management a number of times as well. We now have a strong cloud foundation to power our next growth phase. We have already improved business agility as well as overall operational efficiencies.
DC: Has your partnership with Oracle Cloud made a difference to the business?
VD: Considering, we have been managing large volumes of data, we wanted to choose a cloud provider that has proven expertise in managing data securely. Given Oracle’s unmatched legacy of securely managing most of the world’s mission-critical data for over 40 years, selecting Oracle’s secure, second generation cloud infrastructure was an easy choice. By consolidating our data and applications on Oracle Cloud Infrastructure (OCI), we now have the technology wherewithal to match the pace of our business growth. Additionally, we have gained autonomous capabilities with OCI.
Our internal users have reported 3X application performance improvement, with 40% increase in cost savings vis-à- vis our legacy IT setup. The Oracle Cloud team continues to work closely with us as our trusted advisors. And our developers and DBAs are more productive than before, as they no longer need to just ‘manage’ IT, but can instead focus on higher value tasks that unlock greater value for the business.
DC: Which new technology initiatives are you focusing on this year?
VD: We are expanding our focus on deploying AI/ML and IoT to drive further growth. We’ve begun the process of integrating our systems with logistics providers via their API for smooth, accurate data flow. With embedded AI capabilities, we’re making our products smarter, so they are able to self-diagnose and flag errors in an autonomous way. Across our manufacturing setup, we have stepped up efforts to fast-track the implementation of automatic data capture capabilities.
Lipi Data Systems is one of the top three IT peripheral companies in India. Incorporated in 1986, Lipi is headquartered in Mumbai and has its manufacturing facility in Udaipur with its service network spread across 200 locations in India. Over the decades, Lipi has established itself as a market leader in the Line Matrix & High Speed Dot Matrix Printer categories. In recent times, the company has shifted its focus to advanced solutions like Self Service Terminals and Digital Signage Solutions along with offering custom software development services to a wide range of industries including BFSI, retail, logistics and manufacturing.