IDC India has unveiled the winners of the 2024 Future Enterprise Awards (FEA) India, celebrating exceptional digital transformation (DX) initiatives and visionary leadership.
IDC has selected these winners were selected for their ability to lead and reshape their industries through disruptive technology-driven strategies, reflecting the evolving nature of digital transformation.
This year’s honorees span various industries, highlighting India’s rich diversity of digital innovation. These organizations have excelled in various categories, such as customer experience, digital infrastructure, enterprise intelligence, operations, trust, and industry ecosystems. The awards also recognized exceptional leadership with the CEO of the Year category.
“As the world grapples with unprecedented challenges from economic and political uncertainty, we’re transitioning from the Digital Transformation era to the dawn of the Digital Business age,” says Sharath Srinivasamurthy, Associate Vice President, IDC India.
Following a two-phased approach, each nomination is evaluated by IDC analysts, with country winners then qualifying for a regional competition judged by a panel of international experts. The following are the best out of all the nominations received from India:
Best in Future of Connectedness | Project EdgeConnect by Jindal Steel and Power (JSP)
The implementation of Software-Defined (SD) WAN has elevated Jindal Steel and Power (JSP) to a higher level of digital maturity, with a strong emphasis on employee productivity and seamless system access. Following its deployment, JSP achieved significant cost savings of approximately Rs 1.13 crore in its Multiprotocol Label Switching (MPLS) network. The solution ensured 24×7 business continuity and resiliency, provided redundancy for application availability, and enabled path control load balancing. It also enhanced visibility into application usage and communication patterns, improved security and bandwidth management, and allowed branch offices and remote users to connect effortlessly to cloud applications and services through Zero Touch Deployment.
Best in Future of Customer Experience | Mahadhan Saarthie Farmer Digital Platform by Deepak Fertilisers and Petrochemicals Corporation
Deepak Fertilisers and Petrochemicals developed the Farmer Deep Engagement Platform to deliver value-added services to 1.7 crore farmers, supporting them in managing the entire farm life cycle. The platform comprises several key components: detailed insights into farmer life-cycle management with targeted interventions, an ecosystem of suppliers, service providers, and consumers for digital and data services, finance and risk management solutions, and an integrated digital marketing platform to optimize engagement and reach. It also includes a pioneering digital-first loyalty program aimed at fostering deeper connections with 10 lakh farmers. Through this platform, the company has reached over 90 million farmers and actively engaged with more than 69 lakh of them.
Best in Future of Digital Infrastructure | J-Links by Jagran Prakashan (Dainik Jagran)
Jagran Prakashan (Dainik Jagran) developed and implemented a suite of software modules called J-Links to integrate all business partners and stakeholders into their digital ecosystem. This platform streamlines the entire process of advertising, circulation, purchasing, and inventory control, seamlessly connecting all intermediate steps into a unified workflow. J-Links enhances efficiency, transparency, and customer satisfaction, enabling users to work securely from anywhere via a single sign-on (SSO) gateway. With interactive workflows for follow-up, strict monitoring of bill dispatch and receipt confirmations, and dashboards tracking outstanding dues, the company significantly improved revenue collection efficiency and reduced cybersecurity risks by over 40 percent.
Best in Future of Enterprise Intelligence | CMPM by TCG Lifesciences
TCG Lifesciences’ Compound Management Platform (CMPM) plays a pivotal role in drug discovery by efficiently storing, tracking, and retrieving chemical compounds for various experiments. Developed using Java EE and Java 11, CMPM is a flexible and dynamic application that can be tailored to accommodate each client’s data format. It also features a robust application programming interface (API) for seamless direct integration with client systems. CMPM enhances operational efficiency, ensures compliance, promotes collaboration, and accelerates research and innovation by supporting the safe and effective management of chemical compounds.
Best in Future of Industry Ecosystems | Yono Business Unified API-fication for Omni-Channel Experience by State Bank of India
Yono Business is a unified platform that consolidates five legacy applications: Corporate Internet Banking (CINB), Supply Chain Finance (SCF), Cash Management Product (CMP), Trade Finance (TF), and Forex. In this new system, all business cases are designed using future-ready standard API formats, enabling simultaneous support for web, app, and API channels. Independent, modular, and loosely coupled microservices with reusable components were developed to simplify implementation across multiple channels. This approach ensures that the failure of any single microservice won’t disrupt the entire application. As a result, the overall turnaround time (TAT) has been reduced by up to 60%, and development costs have been significantly lowered.
Best in Future of Operations | iTrack by KEC International, RPG Group
KEC’s digital platform, iTrack, powered by AI and Geographic Information Systems (GIS), has transformed construction project management by enabling agile decision-making and minimizing operational risks. iTrack integrates various data sources, including map data, Building Information Modeling (BIM), onsite sensors, and project schedules, to provide a comprehensive view of ongoing projects. Through its implementation, KEC has revolutionized several business areas: project execution, product development, cloud-native scalable architecture, and the integration of IT and operational technology (OT). By optimizing productivity, iTrack saves approximately one hour per day for each member of an average project team of 150 people, significantly reducing wasted hours.
Best in Future of Trust | Business Application Security Management by Axis Bank
Axis Bank has implemented an application security framework based on the ISO27034 Standard and achieved certification. ISO27034 is a globally recognized standard for application security, offering a comprehensive framework for safeguarding business applications. It covers software developed internally, acquired externally, outsourced, or built using hybrid approaches. By adopting this standard, Axis Bank has established a standardized process for deploying security controls during the design, development, procurement, and implementation of application systems. This framework also helps the bank fulfill regulatory requirements for protecting sensitive information, including personal data, financial records, and other personally identifiable information (PII).
Best in Future of Work | Digital Capability Transformation by CBRE India (Digital & Technology)
CBRE India’s Digital Capability Transformation initiative aims to prepare its workforce for the future by fostering a culture of innovation, collaboration, and adaptability, supporting global transformation programs across the organization. A key aspect of this initiative is empowering specialized Technology Focus Groups (TFGs) focused on emerging technologies such as AI markup language (AIML), data engineering, analytics, Java and .NET full stack development, hyper-automation, quality engineering, and cybersecurity. These groups assess, understand, and make informed decisions about adopting new technologies to deliver customer-centric, value-added outcomes. As a result, 60% of new roles are now filled through internal mobility, accelerating onboarding and promoting organic career growth within the organization.
CEO of the Year | Tapan Singhel, Bajaj Allianz General Insurance Company
Under Tapan Singhel’s leadership, Bajaj Allianz General Insurance (BAGIC) has become a trailblazer in the insurance industry, driving innovative solutions and setting new standards for customer service and operational efficiency. Through the strategic use of cutting-edge technology, BAGIC has introduced a comprehensive suite of digital solutions that revolutionize insurance processes. In its commitment to supporting the agricultural sector, BAGIC launched the Kisaan Suvidha Agri Chatbot, an AI-powered tool that simplifies crop loss reporting for farmers. Additionally, Agri NXT, a state-of-the-art platform, manages BAGIC’s agricultural operations, covering everything from underwriting and policy administration to claims assessment and payouts. These initiatives have solidified BAGIC’s leadership in agricultural support.
Future Enterprise of the Year | Amara Raja – Digital Transformation – Wave-2 – InnovAIte by Amara Raja Energy and Mobility
Amara Raja Group envisions transforming its businesses into digital entities that drive revenue growth and create new opportunities for innovation. To achieve this, the organization developed a multiyear digital transformation (DX) strategy centered around five key principles: strategic alignment, technology innovation, operational excellence, cybersecurity and risk management, and collaboration and change management. In Wave-1, the focus was on building a digital core across all businesses to improve operational efficiency and agility. This digital core created a strong foundation for future phases by enabling innovation and providing actionable insights that add value. Wave-2 of the strategy emphasized a cloud-first approach, AI/generative AI (GenAI), the Industrial Internet of Things (IIOT), and advanced analytics to generate deeper business insights, foster innovation, and support new business models.
Special Award for Digital Innovation | Project MAL by Maithan Alloys
Maithan Alloys has embarked on a comprehensive digital transformation journey to enhance operational efficiency, product quality, and customer satisfaction. The company’s future digital innovation strategy aims to expand existing initiatives, explore new technologies, and promote a culture of continuous improvement and innovation. By leveraging advanced technologies such as the Internet of Things (IoT), AI, and data analytics, Maithan Alloys is modernizing and streamlining various aspects of its operations. So far, the project has achieved notable results, including a 15 percent reduction in raw material wastage through real-time monitoring and predictive analytics, a 25 percent increase in customer satisfaction scores through real-time support and personalized services, and a 15 percent boost in productivity through automation and streamlined workflows.
