DSIMS organized Sixth Remsons International Research Conference(RIRC) on 16 March, 2019 under the aegis of Remsons Centre for Management Research. The Theme of the conference was ‘Digital Transformation of Business-The Way Forward”. Remsons Chair Professor and the Chief Convener of RIRC, Dr. Sharad Kumar welcomed the august gathering and apprised the rigor and relevance of the theme. President RSET and Chairman DSIMS, Mr. Ashok Saraf, narrated the history of the establishment of the Remsons Research Centre at DSIMS with a generous donation made by Shri Viswaprakashji Harlalka and he also highlighted the vision of Rajasthani Sammelan Education Trust (RSET) towards educational excellence. With reference to the fourth Industrial Revolution and Curricula 4.0, Director General of RSET Dr. N.M. Kondap, appreciated about the apt theme in today%u2019s changing business environment. He stressed on the need for continuous learning and curriculum rescaling and solution oriented research endeavors to bridge the gap between academics and industry in the age of digitization. Chief Guest, Mr. Krishna Kejriwal, Chairman and Managing Director Remsons Industries delivered his insightful keynote speech on changing business strategies to keep pace with the speed of digitisation. He opinionated that in the midst of inevitable disruptions and exponential changes, the? businesses need to scale up their skill sets through innovation to drive the change and not to be driven by the change. He talked about SAP,CMD and Cloud Computing. He brought to the notice the benefits of digitization in terms of time, expense and man power saving as well as bringing system transparency. He also pacified the so called fear of manpower retrenchment, as he said that there is no substitute of human brain and some of the human traits like – creativity, imagination, emotion cannot be done by machines. He concluded his speech with the advice of embracing the transformative change by converting challenges into opportunity.
Keynote Speaker Dr.N. Rajendran, Chief Technology Officer, National Payments Corporation of India highlighted on the issue of Payment Digitalization. He deliberated on several issues of digital payments, like- direct benefit Transfer (DBT), Rupay, Immediate borrowing through UPI, Artificial Intelligence (AI) and Machine Learning (ML). He informed the various functions performed by NPCI through its digital platform. Regarding the digital security, two fifty parameters need to be validated to authorize a transaction to the right person, he said.
The morning session ends with a Vote of Thanks proposed by Director Dr. C. Babu to the esteemed dignitaries.
Thereafter there was a Panel Discussion by a combination of esteemed Panelists of different field related to digitization. The experts in the panel were Mr. Vijay Chugh, Former Principal Chief General Manager, RBI; Dr. Mahesh N Juttiyavar, Senior Manager, CISO; Mr. Amit Sheth, Co-Chairman, AurionproSolutions Ltd; Mr. Hanuman Tripathi, Chairman Hashtashy Digital and CA Sudha Bhushan, Head- IA Advisory, Taxpert Professionals. With the able moderation by Dr. Sharad Kumar, the panel discussion brought lot of new insights to the audience.
Mr. Hanuman Tripathi reflected his views on Social Media Marketing, He was of the opinion that digital Marketing is creating a level playing field and pushing people out of their leadership position or monopolization stature. He claimed that digital marketing is a boon for small businesses and B2B where conversion rate is as high as 25%-30%, which is significantly high. He also asserted that Influential Marketing and referencibility is a Brahmastra of Digital Marketing.
Regarding the merits of Fin Tech, Mr.Amit Seth also opinionated along the same line of Mr. Tripathi about easy accessibility of tools, reduced barriers to entry and rising consumerism.
Mr. Vijay Chugh, a veteran regulatory banker explained Ten Commandments of business digitization. As a part of G-20 and leading nation in digital economy front amongst Asia, India could build up its strength on crucial settlement system like- CDMI, RTGS and NEFT, he informed.
Dr. Mahesh Juttiyavar discussed the infrastructure requirement and the related regulatory perspective for digitization. Amidst the threat of breaches, hacking and malware, the need of the hour is to build a secure and insulated system for financial transactions, he said.
CA Sudha Bhushan expressed her views on taxation in cross border digital transaction. With the challenges posed by digitization,an altogether new business model has emerged and in this regard she discussed about the Equalisation Levy, Base Erosion and Profit shifting Plans and some new sections of E-Commerce policies.
Altogether eighteen research papers were presented in two different tracks. Dr. B.K. Bhoi, Ex. Principal Advisor, RBI, was the Session Chair in Track I. In Track II, we had Dr. D.C.Patra, Chief General Manager, In-Charge Planning, BPCL, as our Session Chair.
Mr. Jayesh Bahadur, Founder & CEO, Kachi Sozo Business Services, consented to deliver the Valedictory Address. On the basis of fair evaluation by a panel of session chairs and blind reviewers, three of the eighteen presenters had been chosen as the Best Paper Awardees. Prize money of fifteen thousand, ten thousand and five thousand had been awarded to Dr. Dinesh D Harsolekar and Ms. Merlyn Michael D’Souza of IES, Mr. Aditya Dhanuka and Ms. Abhilasha Bohra of DSIMS MMS Batch 2018 and Dr. Deepa Rohit and Prof Gayatri Magi of IES respectively. The Jury members awarded the certificates to all the presenters. A unique endeavor on the part of the Institute was to host a conference on Digital Transformation of Business as one of the most critical strategic pillar of Indian growth trajectories in times of uncertainty. The Conference was indeed a grand success.