In today’s ever evolving business landscape, technology driven automation of business processes has become the critical component of any business. Digital automation enables organizations to improve operational efficiency, reduce costs, enhance customer experience, and gain a competitive advantage in the market. It involves the use of technologies such as artificial intelligence, machine learning, robotic process automation, and other digital tools to automate repetitive tasks, eliminate manual errors, and accelerate decision-making processes. Through digital automation, businesses can transform their operations, increase productivity, and create new opportunities for growth and innovation. In this context, organizations must adopt a strategic approach to digital transformation to ensure that the integration of digital automation aligns with their business goals and objectives. As companies embark on their digital transformation journey, it's essential to have a partner who understands the market dynamics, can adapt to technology, and has a deep understanding of the target audience to ensure long-term success. However, only 30 percent of digital transformation initiatives meet their objectives, with a staggering 70 percent of projects either stalling or failing altogether (according to reports by McKinsey & Harvard). Keeping this in view, Source2T endeavours to be a game-changer that assists businesses in realizing their complete potential and accomplishing their digital transformation objectives.

Sanjul Gupta, CEO
Majid Ali Khan, COO

The Evolution

Source2T is a technology-focused, people (talent / knowledge) and process driven business transformation enterprise that offers a diverse range of digital solutions to help businesses automate their operations, resulting in enhanced control and transparency. From its conceptualization in 2017 to its establishment in 2020, Source2T has transformed from a mere idea into a comprehensive technology company that provides a wide range of products and services to assist businesses in process transformation. In the last three years, the company has launched multiple products under the Procurement and Supply Chain domain, data analytics, online auctions, document management, digital signature, inventory management, asset management, and other custom process automations. With more than 40 clients and over 10,000 users globally, Source2T's technology services have been widely embraced by businesses seeking to stay ahead of the curve in the digital age.

The Bright Side

Source2T's ability to harness advanced digital technologies such as Robotic Process Automation, Artificial Intelligence, Machine Learning, Data Analytics, Predictive Analysis, Internet of Things, and Blockchain is one of its key strengths. By integrating these technologies with profound domain expertise, as well as a comprehensive vision and strategy, Source2T has successfully transformed how businesses leverage technology, people, and processes to enhance their overall performance.

Source2T is a company that is committed to revolutionizing businesses through talent incubation, process transformation, and automation. Source2T initiates the transformation process by conducting a comprehensive due diligence process, wherein they analyse their clients' processes, policies, practices, organizational structure, historical data, current issues, challenges, SOPs, SLA, and KRAs. This enables Source2T to gain a deep understanding of their clients' business workings and helps them identify areas that require transformation, thereby enabling them to offer tailored solutions to meet their clients' specific needs. Source2T conducts one-on-one interviews with entire teams to prepare a comprehensive due diligence report. This report includes a detailed analysis of existing processes, gaps in processes and policies, undocumented practices, challenges, proposed processes, recommended changes to policies, necessary technologies to be implemented, cost calculations, savings targets, implementation plans with timelines, change management plans, communication plans, training plans, and more. After implementation, Source2T continues to support its clients, conducting quarterly review meetings, ensuring that they are utilizing the solution to its fullest potential, and that their cost-saving and digital transformation objectives are met.

Source2T offers a diverse range of product offerings designed to cater to the needs of businesses of all sizes and complexities. For instance, the KYS (Know Your Supplier) Network is a GST and MCA integrated Supplier Management Solution that offers supplier performance management, supplier delivery management, and supplier spend management. RFX Factory is a standalone module that helps clients digitize their RFX process. The Auction platform is an online solution that enables companies to plan, create, approve, and conduct a variety of auction types, including reverse auction and forward auction. The Source to Pay & Procure to Pay Suit (ValProc) is a comprehensive end-to-end Procure to Pay and Source to Pay cloud-based platform that is OTT integrated with any financial ERP. The Accounts Payable automation solution provides intuitive and effective end-to-end automation for two- or three-way document matching of PO, Invoice, and GRN, with an online approval workflow to process invoices and integrate Good to Pay invoices to ERP through API. The Spend Value cloud-based tool is integrated with ERP or Procurement system for data cleaning, data categorization, and analysis of expenditure data with the aim of reducing procurement cost, improving process efficiency, and monitoring control and compliance. The Smart Asset Management product offers movable asset listing, QR code generation, QR code printing, asset geo-tagging, asset allocation, asset reallocation, and asset scrapping – all managed through a mobile app. Finally, the Document Management solution with AADHAR based signature (e-Mudra) integration provides businesses with a secure and efficient way to manage their documents.

Envisioning A Great Future

As the world becomes increasingly digitized, Source2T is strategically positioned to leverage the growing demand for digital solutions. With Sanjul Gupta as CEO and Majid Ali Khan as COO, Source2T is gearing up to launch Version 2.0 of its technology offering, which will include the flagship product, ValProc 2.0. This major upgrade will incorporate cutting-edge technologies such as AI-based document scanning and data extraction, data science, data analytics, IoT implementations, and more. Additionally, Source2T is collaborating with major Global Cloud Computing providers on multiple enhancement projects to ensure that its products and services remain at the forefront of technological innovation, enabling businesses to stay ahead of the curve in the ever-evolving digital landscape.

Source2T is actively working towards achieving SOC compliance, which involves implementing a comprehensive set of security standards and practices that are designed to protect against potential threats and vulnerabilities. Another key objective for the company is to obtain ISO certification, a globally recognized standard for quality management systems. Additionally, Source2T is focused on developing an Android and iOS app, which will provide greater convenience and accessibility for customers who use its services. These goals are indicative of Source2T's unwavering commitment to continuous growth, improvement, and innovation in order to provide its clients with the best possible service.

Encouraging SME Business Community

Moreover, as a response to the increasing demand for digital solutions among small businesses, Source2T intends to release a free retail version of its products specifically tailored to meet the needs of small businesses. This offering will enable small businesses with straightforward processes and limited user requirements to access Source2T's applications for free, thereby democratizing access to digital technology and empowering small businesses to compete and thrive in the digital age.

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Conclusion:

In conclusion, Source2T's holistic approach to driving successful business transformation through digital automation has proved to be highly effective. By leveraging advanced digital technologies with profound domain expertise, the company has successfully transformed businesses of all sizes and complexities, helping them achieve greater operational efficiency and a competitive edge in the market. With its diverse range of product offerings and a commitment to continuous growth, innovation and improvement, Source2T is well-positioned to remain at the forefront of digital transformation in the years to come.

"Source2T's remarkable growth from serving 120 users to over 10000 users with 40 clients, is a testament to their proficiency in driving business transformations at scale.""Source2T's impressive track record of acquiring 40 clients and amassing over 10,000 users within just three years of operation is a testament to their exceptional capability to drive large-scale business transformations."