News Archive | Making Businesses Efficient

The SAYA Platform Journey – Peek view from founder

The SAYA Platform Journey All along, as a young developer into IT, was fortunate to work in a more competitive landscape of building niche solutions to Treasuries of Banks across the globe, Large and SME segments of Corporates. Technology always intrigued me on the value it delivers to an Organization. Having seen World class Treasuries processing millions of transactions which need a sophisticated Product or Solution backing it with robust scalability, performance and usability. After working more than 20 years delivering value to the businesses across the Globe with products I was heading with my teams, I had decided to embark on a more exciting journey of entrepreneurship to start 3Cortex. When I sat to think of what I want to do, I couldn’t think of anything but to be in the solutions building space which is my core strength all along. Problem identification The genesis for SAYA Platform to become a strong Data Player to solve niche challenges to bring the Operational Efficiency to the business is come from what I read from highly respected research firm quoting “Data generated by an Organization in next 3 years is going to be more than what it generated in past 30 years”. This reinforced my belief on what I have seen over the past 20+ years on how the data is increased and major bottlenecks are always in processing the Operations. In the case of Treasuries or Payment systems, I could clearly understand how the Operations team grows to take care of the post transaction in each domain. The main challenges which Organisations face are: Huge dependency on manpower, as they scale their business volumes Manual interventions for ~80% of what is done, leading to mistakes which could be as severe and detrimental to businesses (Avoiding Common Mistakes in Financial Reporting | CFOShare) No one system which is solving the loose ends in the Operations space dealing with Operations teams Innovation to the CORE, and not a #metoo player When we started to research the market players, Opportunities and target market segments. Operations being a common spoke for all the businesses, what we realised as a team is not to be a #metoo player. This has set the ground rule for SAYA Platform, to bring value through the unique way we want to solve the problems. Some of our basic principles are: Bring our own secret sauce (which is our experience) in the domain to create the Technology innovation under our AI/ML models Use the latest technology to our advantage where all our competitors are more at a huge tech debt Operations is always looked as cost centre, so to bring the value by creating a Platform which is self servicing and zero configuration approach Bootstrapping a Company – much harder than what I thought While my past experience looked glorious, I started as a developer immediately after completing my masters in IIT Mumbai. I had learnt, explored the World, built teams and businesses in my tenure of 20+ years of Corporate job. Starting the entrepreneurial journey is like starting from scratch, this time I didn’t even have the endorsement of a great college like IIT Mumbai making me even more vulnerable. What has driven me every day is to make a difference with the idea and the people who trusted me. When I was taking the baby steps, there was no option but to learn the technology all together one more time, so this drive made me a full-stack developer/ Data scientist and I am happy that the initial 2 versions of SAYA Platform are totally written by me. While I was building the SAYA Platform as part of bootstrapping, I had done consulting projects and some high-end service projects in parallel with few customers who had believed me, even when I was a one man army during 2020. Slowly but steadily, if I see the stage where I am now, there are dedicated teams in Engineering, Architecture, UI/UX, Operations, Marketing and Sales who are focusing on the SAYA Platform growth journey. Am thankful to the team who was behind me and trusted my instincts, customers and partners who treated us with respect and accepted us purely for the value/ knowledge we bring without comparing with big players in the market. All these experiences, made the base for SAYA Platform and 3Cortex core values: Product (Innovation or value we deliver to businesses SAYA Platform) People (One who creates #Team, accepts #Customers and #Partners the Product) Process (My belief is if I manage my Product and People well, deliver unique experience and value then business/ Process is generated as by-product) Road ahead I am in a marathon of an entrepreneurial journey, I feel optimistic on how we progressed till now and the IP we built and the customer experience we brought in. I can say we created our own fan base of our customers which is the key and we intend to stick to our basics and stay true to our mission to make SAYA Platform delivering value by #MakingBusinessEfficient. We are running with a mission to deliver the efficiency of 200% to all our customers with ROI from Day1 using SAYA Platform. Last but not least, making the SAYA Platform adopted by 9% of World Organizations is our goal in the next 10 years. – Rajendra Prasad Sriramoju CEO.

Why Reconciliation Process is Critical for Banks and Enterprises?

In the fast-moving financial world, accuracy and transparency in records are crucial for banks and enterprises. Reconciliation is a careful process that helps them compare different financial data sources to find mistakes and prevent errors and fraud. In this article, we’ll explore why reconciliation is so vital for banks and enterprises in maintaining their financial integrity. Detecting and Correcting Errors: Reconciliation is essential because it helps banks and enterprises find and fix mistakes in their financial transactions. Sometimes, errors like double entries or missing information can happen, and reconciliation catches these problems early on before they become big issues. Ensuring Accuracy and Transparency: Accurate financial data is vital for any successful organization. Reconciliation makes sure that the financial records kept by banks and enterprises match the real transactions. By comparing data from different sources like bank statements and accounting records, any differences stand out, leading to more accurate financial reports. Preventing and Detecting Fraud: Unfortunately, fraud attempts are a constant risk for banks and enterprises. Reconciliation helps lower this risk by spotting unauthorized or fraudulent transactions. When financial records are carefully reviewed and cross-checked, any strange activities come to light, and quick action can be taken to preventfinancial losses. Following Rules and Regulations: Adhering to strict regulations is a must for banks and enterprises. Reconciliation ensures that all financial transactions are recorded correctly and comply with regulatory requirements, making audits smoother and showing a commitment to following the rules. Helping Decision-Making: Smart decision-making is vital for a successful organization. Reconciliation provides accurate and up-to-date financial data, helping management make strategic choices based on reliable information. Whether it’s planning budgets, allocating resources, or evaluating financial performance, reconciliation improves the quality of decision-making. Tracking Outstanding Transactions: In banking, not all transactions happen instantly. Some take time to clear, causing delays. Reconciliation helps identify these outstanding transactions, giving banks and enterprises a real-time view of their financial situation. This allows better cash flow management and prevents overspending. Building Trust and Credibility: Reconciliation is not just an internal process; it also affects how others see a bank or enterprise. Accurate financial reporting and transparent records build trust with customers, investors, and regulators. This trust leads to increased loyalty, investor confidence, and better business relationships. Conclusion Reconciliation is a crucial financial practice that protects the interests of banks and enterprises. It helps with accurate financial reporting, fraud detection, regulatory compliance, and better decision-making. As the financial world keeps changing, reconciliation remains a vital pillar for financial integrity, transparency, and long-term success.

3CORTEX’s Participation in the Inauguration of an Innovation, Incubation, and Research Center by Hon’ble IT Minister KTR Garu at KITS, Warangal

Introduction: Team 3CORTEX had the honour of participating in the inauguration of the Innovation, Incubation, and Research Center at KITSWarangal by Hon’ble IT Minister KTR Garu. His message was inspiring for startups like us who believe in innovation. In this blog, we’ll share our experience at the event and discuss our unique platform, SAYA, which simplifies complex reconciliation processes and enables businesses to solve data challenges. Explore More The Key Message: KTR Garu emphasised three key points that resonated with us: At 3CORTEX, we are driven by a passion for innovation and a desire to create solutions that solve real-world problems. We believe that the Innovation, Incubation and Research centre will provide us with the resources, mentorship and guidance we need to take our ideas to the next level as SAYA Platform. SAYA Platform: Our platform, SAYA, is designed to simplify complex reconciliation processes for businesses. Our offerings include: SAYA ReconX: An AI/ ML-based proprietary reconciliation engine. SAYA ResolveX: A unique exception manager with machine learning abilities. SAYA AnalytiX: Provides seamless decision-making analytics and reports. SAYA QuantX: Provides computation models and quant library for faster solution delivery. SAYA simplifies the complex reconciliation process by: Conclusion: We are grateful to the Hon’ble IT Minister KTR Garu for his unwavering support and dedication to creating a conducive environment for startups in the region. We look forward to contributing to the growth of the startup ecosystem and making a positive impact on society through our innovations. References: https://www.linkedin.com/posts/3cortex_3cortex-participated-in-the-inauguration-activity-7060944118692134912–Usb?utm_source=share&utm_medium=member_desktop

3CORTEX welcomes Shiva K as Senior Business Analyst

CEO Addressing at National Level Technical Symposium

3CORTEX is glad to participate in Sumshodhini KITS Warangal 2022 which is a national level technology event conducted by Kakatiya Institute of Technology & Science, Yerragattu Hillocks, Bheemaram, Hasanparthy, Warangal KITS Warangal is a 43-year-old Engineering College in Telangana.Our Cofounder and CEO Mr Rajendra Prasad preceded the event as Guest of honor addressed the students and encouraged them towards #innovation and #designthinking He enlightened the students through his insights and asked them to become experts in their streams and take advantage of #makeinindia and exciting opportunities around technology

All about Product Management

Product Management is an important part of the current IT roles, it spans across various jobs which one has to know who is willing to move to this role or who already are in the role to become better. Genesis Being in the IT industry for last 20+ years, if I reflect back how things were done and what is transformed this super special role by the industry. I try to put my experiences when I started in my job in 2000, the Organization hierarchy used to be Developers Leads (Project/ Team) and Project Managers Right from Lead level onwards, people start to own the solution right from requirements to solution delivery in full. This used to be working well in SDLC quite well, as IT extended to all the areas of complex domains which needed specialized roles to bridge the gap between business and technology. Especially in Treasury domain where I used to work around 2005, suddenly started seeing new role called as Business Analyst. This role is more functional who understand the domain and help the development teams to deliver the requirements bridging the knowledge gaps. As time passed, the fully managed solution delivery, startup culture, SAAS and Cloud solutions made the way to Product Management. This is now in almost every domain or industry involving varied skills which we will touch base in this post. Key Skills people need to focus in product management While there are different demands from a product manager depending on the Organization maturity in business and the domain it operates. We would like to emphasize on key skills without going too much into feature delivery or technical nuances which can be found in many books or online material. Being a 3Cortian we believe just focusing on 3 dimensions in any field, we can come out with a meaningful analogy, so here we go with 3 main skills Domain Knowledge Solution Orientation Soft skills Domain Knowledge In my view this is the most important factor to become a successful Product Manager, especially your passion to learn the domain how business users perceive, the value they derive out of business and more thinking like an end user. We need to understand while there are so many domains like Banking Sector, Corporate or Enterprise segment, Healthcare and the list goes on. While the high-level domain is just the beginning and as a product manager becoming an expert in the sub-domain is the key. Say for example in Banking we have Consumer Banking, Corporate Banking, Treasury, Lending, Trade finance etc. Even under each sub-domain there are multiple levels of expertise needed as the complexity is multi-fold. First thing people who are serious on product management should be willing to put the extra effort to understand or learn the domain. Now finally the goal of a product manager after knowing the domain is to simplify things in the business processes with effective solutions. We need to have a fine line in knowing what business expects and a good product manager is always trying to differentiate him/ herself by bringing that flair of deriving what business users don’t know what is possible and add value in providing solutions. This is the key differentiator for a good product manager for which knowing the domain or reaching a stage where business users start respecting the knowledge, this is the ideal state. Solution Orientation As predominantly delivering the solution is handling the technology and for that having the technology orientation is very important. At the end of the day, a product manager derives respect when he/ she knows how things can be done using the technology. I have seen in many companies and Banks people who started in technology understood the functionality from business users made up a great Product Managers. Which means coming from a pure functional background the journey will be difficult and it needs support or putting that additional efforts in understanding technology. One good thing is technology is becoming easier compared to what it used to be, so again getting the technology acumen is quite easy for the people who want to make a mark. Soft Skills Last but not the least is soft skills, very important aspect. Handling the people around, driving your solution or product, needs a different level of soft skills which I term as leadership ability of a Product Manager. A product is successful if people buy-in the idea not by power but by showing the vision or value to everyone around. This is highly difficult part when compared to the above two skills in my view. This comes with the professional experiences one gains in his/ her journey. We will touch-base this in our next blogs as it is made of successes and failures through which people learn. Final Word to the people who want to make a mark As Product Management roles in Job Description is highly glamourized yet times stating as CEO of the product and owner of the product etc. It is very important to stick to the basics mentioned above. Keep an eye on learning the domain, ensuring technology is embraced and people are valued or respected which in turn yields respect to you. In my view not every Organization will be able to show the career of what is kept in Job Descriptions, one thing which you need to believe is if you are a good product manager you can be the CEO of your own company and for your own product. So, believe in yourself and put the efforts to become a well-rounded product manager. All the very best!!!

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