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Be a Company to an ENTERPRISE 4.0 Role of Digital Transformation

The 2020s will forever be what I call a watershed decade, as it has forever changed the way businesses function around the world.

Consumer habits today are largely driven by digital innovations and technologies. The digitally connected world makes information gathering easy & social media has become so intrinsic to the next generation as the de-facto primary source of information.

How companies learn to adapt themselves to the changed circumstances and re-invent themselves into an enterprise 4.0 organization will determine who survives and grows in this decade.

Companies must transform digitally across the board to be an enterprise 4.0 organizations. Regardless of the services business, selling physical goods offline or online to direct consumers or serving B2B clients, unless you digitally transform to meet the expectations of your customers and employees, the chances of being stagnant and failing will increase proportionately with every passing year.

Key Elements of Digital Transformation

CEOs or organizations transiting themselves should be aware that digital transformation is not just restricted to the tech department but to be truly an enterprise 4.0, the transformation should be all-pervasive.

The 4 key areas every CEO should focus on for digital transformation:

1.   Transformation of businesses processes and system

2.   Transformation of the business model

3.   Domain transformation

4.   Culture transformation

Transforming Business Processes

Moving from being a company to an enterprise 4.0 organization will call for CEOs to completely overhaul the way various departments function including the processes within each. Employees need to be digitally connected given the hybrid nature of work these days likewise mobile apps, cloud-based applications, and seamless data flow between departments are critical.

Transformational technologies like Artificial Intelligence coupled with Deep Learning can significantly transform business processes. Workflows can be optimized to deliver higher throughput. Manufacturing companies can leverage machine learning and AI to fully automate production processes, while AI can be used by services companies to generate insightful data points leading to informed decision-making.

The use of Blockchain as a technology can be transformational in changing how businesses address customer transactions and agreements. The Internet of Things (IoT) can bring out a change in the way logistics and supply chain processes are implemented.

Take, for example, the sales function. Leveraging cloud-based CRM tools and Power BI will aid sales teams to make better-informed decisions during sales calls. Sales reps need to be trained in social selling. At the same time, the vast amounts of data collected through every sales visit will enable marketing departments to develop personalized conversations with potential prospects while being able to cross-mine existing customers for a higher share of wallets. Implementing AI within the organization’s systems will help managers manage processes better.

Likewise, digital technology could be applied to supply chain teams integrating vendors, logistics partners, procurement, production teams, and finance teams into a holistic seamless unit where data flows happen instantly. AI could be used to gather intelligence at every point of the supply chain to drive down costs whether it be in lowering transportation costs, leveraging better route planning, vendor planning, or even procurement costs.

Business Model Transformation

Digital technology has completely democratized business models. Customers are now able to choose their preferred mode of consumption or purchase of any product or service. Geography too is no longer a barrier to purchase.

CEOs of Enterprise 4.0 understand this and tailor their products and services for the new generation of buyers. SaaS, PaaS, IaaS & BPaas are no longer just terms, rather have become realities in the new world order. Companies need to evolve their business models to cater to changed customer buying habits.

For example, Rental has become a growth business model. You can rent everything from an IT product to furniture to cars to entertainment on a monthly subscription model. Services have been productized to meet the changes. Products can be rented instead of bought. D2C models are growing across every industry.

The Productization of services has been gaining ground in recent years. Service organizations need to look at their service lines and determine what aspects of their traditional service areas can be productized. Productization of services leads to the ability to cater to a larger market with products tailored to different customer needs. Productization also allows organizations to leverage e-commerce models instead of traditional direct field sales models so as to cater to a global market.

Domain Transformation

The cloud has changed the need for hard drives. Software systems no longer need to be physically residing in one place. The cloud offers vast amounts of data storage and allows for AI-based applications to run seamlessly through all the data streams and provide a singular dashboard for better and faster decision-making.

Enterprise 4.0 need to invest in the cloud, ensuring being free of costly IT resources but allowing employees to work seamlessly no matter where they are.

The growth of public cloud and hybrid cloud services allows organizations to move all their workflows and applications seamlessly to the cloud. Creating a flexible cloud solution for running all workflows, gives organizations the flexibility of not being locked with a single platform or a vendor and at the same time provides scalability of operations

Manufacturing companies can integrate IoT, Machine learning, and AI within their production process and monitor manufacturing seamlessly without being physically present on the shop floor. Likewise for all other business processes.

Culture Transformation

Having a set of employees culturally aligned with the organization’s value system is extremely critical for long-term growth and survival. Embracing a digital transformation will lead to resistance within the organization, especially among those who have not yet seen the benefits or who are technology deficient.

Organizations are likely to witness employees lacking in, relevant implementation of desired digital tools & assets. CEOs need to be an active role model for the absolute digital transition and impress through frequent town hall meetings, webinars, and HR initiatives & activities, all need to align to transform into a digitally connected enterprise.

Conclusion

Digital transformation into an enterprise 4.0 organization is not just about digitalization, but a complete transformation of the organization as a whole. It is a cultural shift in thinking, innovation, and re-imagining the business in totality. Think of it as a pivot that startup CEOs do to re-invent their companies.

Digital transformation in the end is all about building a technology bridge that connects data intelligence, employees, and customers into a holistic whole.

Welcome to the Brave New World!

Saurav Wadhwa

Co-founder & CEO

Saurav Wadhwa is the Co-founder and CEO of MYND Integrated Solutions. Saurav spearheads the company’s strategic vision—identifying new market opportunities, unfolding product and service catalogues, and driving business expansion across multiple geographies and functions. Saurav brings expertise in business process enablement and is a seasoned expert with over two decades of experience establishing and scaling Shared Services, Process Transformation, and Automation.

Saurav’s leadership and strategy expertise are backed by extensive hands-on involvement in Finance and HR Automation, People and Business Management and Client Relationship Management. Over his career, he has played a pivotal role in accelerating the growth of more than 800 businesses across diverse industries, leveraging innovative automation solutions to streamline operations and reduce costs.

Before becoming CEO, Saurav spent nearly a decade at MYND focusing on finance and accounting outsourcing. His background includes proficiency in major ERP systems like SAP, Oracle, and Great Plains, and he has a proven track record of optimizing global finance operations for domestic and multinational corporations.

Under Saurav’s leadership, MYND Integrated Solutions maintains a forward-thinking culture—prioritizing continuous learning, fostering ethical practices, and embracing next-generation technologies such as RPA and AI-driven analytics. He is committed to strategic partnerships, long-term business development, and stakeholder transparency, ensuring that MYND remains at the forefront of the BPM industry.

A firm believer that “Leadership and Learning are indispensable to each other,” Saurav consistently seeks new ways to evolve MYND’s capabilities and empower clients with best-in-class business process solutions.

Vivek Misra

Founder & Group MD

Vivek is the founder of MYND Integrated Solutions. He is a successful entrepreneur with a strong background in Accounts and Finance. An alumnus of Modern School and Delhi University, Vivek has also undertaken prestigious courses on accountancy with Becker and Business 360 management course with Columbia Business School, US.

Vivek is currently the Founder & Group MD of MYND Integrated Solutions. With over 22 years of experience setting up shared service centres and serving leading companies in the Manufacturing, Services, Retail and Telecom industries, his strong industry focus and client relationships have quickly enabled MYND to build credibility with 500+ clients. MYND has developed a niche in Shared services in India’s Finance and Accounting (FAO) and Human Resources (HR). MYND has also taken Solutions and services to the international space, offering multi-country services on a single platform under his leadership. Vivek has been instrumental in fostering mutually beneficial partnerships with global service providers, immensely benefiting MYND.

Mynd also forayed into a niche Fintech space with the setup of the M1xchange under the auspices of the RBI licence granted to only 3 companies across India. The exchange is changing the traditional field of bill discounting by bringing the entire process online along with the participation of banks through online auctioning.

Sundeep Mohindru

Founder Director

Sundeep initiated Mynd with a small team of just five people in 2002 and has been instrumental in steering it to evolve into a knowledge management company. He has brought about substantial improvements in growth, profitability, and performance, which has helped Mynd achieve remarkable customer, employee and stakeholder satisfaction. He has been involved in creating specialized service delivery models suitable for diverse client needs and has always created a new benchmark for Mynd and its team. Under his leadership, Mynd has developed niche products and implemented them on an all India scale for superior services. Mynd has been servicing a large number of multinational companies in India through its on-shore and off-shore model.

TReDS (Trade Receivable Discounting System) has been nurtured from a concept stage by Sundeep and the Mynd team. M1xchange, Mynd Online National Exchange for Receivables was successfully launched on April 7th, 2017. While spearheading the project, Sundeep and his team have built up the TReDS platform to meet RBI guidelines and enhance the transparency for all stakeholders. This platform and related service has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently.

Sundeep is currently focused on providing strategic direction to the company and is working towards achieving high growth for Mynd, which will help in creating the products as per customer needs and increase its top line while maintaining the bottom line. He directly involves, develops, nurtures and manages all key client relationships of Mynd. He has also successfully acquired numerous preferred partners to support Mynd’s technology-based endeavors and scale up its business.

Sundeep has been the on the Board of Directors for many renowned companies. He has played a key role in planning the entry strategy and has set up subsidiaries for many multinational companies in India. In his leadership, Mynd has seen consistent growth at the rate of 20+ % CAGR from the year 2009 onwards. This was primarily because of investing into technology and bringing platform based offering in Accounting and HR domain for the customers.