Remote Monitoring Solutions is bolstering businesses with the next version of cost-effective and advanced tech solutions to deliver critical business insights
CXOToday has engaged in an exclusive interview with Manjunath Rao, President – Managed Services, CMS Info Systems.
1.CMS‘s latest line of business – Remote Monitoring Service (RMS) launched in FY21, has grown 10x times and has plans to target a revenue of 100 crores in FY 23. How do you plan to achieve this target?
CMS launched India’s first AIoT-based RMS solution, built on cutting-edge AI and IoT platform along with state of art Robotic Process Automation (RPA) monitoring at our integrated command centre. We started this business line in 2021 with 2,000 live sites and have today grown to 20,000+ live sites secured through our future-ready remote monitoring solution. With 500,000 connected devices and 60,000 alerts processed daily, 1000+ critical alerts have been prevented and 25% energy efficiency has been delivered to our clients.
As the need to drive productivity increases and compliance norms get more stringent, we believe that businesses across sectors will recognise the need for smarter surveillance solutions. They can look at this solution along with their existing infrastructure where our platform can manage their estate through intelligent remote monitoring. This would help them with the next version of cost-effective and advanced tech solution delivering critical insights. We would soon be expanding into other sectors as well since our solution is sector-agnostic and through our a-la-carte Artificial Intelligence library of 40+ modules, clients can choose the category of business insights they need to derive from our intelligent solution.
- How is RMS helping businesses across different sectors?
As of today, we cater to Banks, NBFCs, Healthcare and Manufacturing sector clients. The real value in having an intelligent surveillance system comes from taking advantage of all its capabilities. Our Remote Monitoring Solution (RMS) is helping businesses with the next version of cost-effective and advanced tech solution delivering critical business insights such as branch open/close statistics, footfall analytics, personnel missing alert, power usage data with automation, hygiene audits and much more. We today proudly cater to a leading gold loan provider and the largest insurance company along with our other key clients.
The integration of Internet of Things (IoT) and deep learning algorithms to record real-time video provides AI-based video analytics that increases productivity and non-security related data and insights. Collectively, these insights can increase a company’s bottom line, regardless of the sector they operate in, by improving safety, productivity, the cost-effectiveness of sites, identification of defective equipment and much more.
- Elaborate on the technological advancements, which gives RMS a competitive advantage?
E-surveillance, till a few years back, required eyeball monitoring. Manually driven, this was prone to human errors, omissions and camera failures. Today, technology has changed security and surveillance systems with artificial intelligence (AI), computer vision and digital image processing. Our RMS is all about providing clients with real time update and enabling them to create a more efficient and productive work environment. Today, our integrated IoT panel on-site manages 25+ devices including camera, SIM Cards, Smart plugs for energy and ambience management and electronic sensors gathering threats and activity. Our AI platform gathers these data points and detects anomalies. It offers insights on footfall statistics, demographic analytics, queue management, object/person missing alert, etc.
- How is CMS’s proprietary security application ALGO OTC for ATMs driving efficiency and bringing safety to the cash management ecosystem? How do you plan to take this line of business to the next level?
ALGO OTC is the world’s first fully automated, Artificial Intelligence powered and mobility-based ATM Security software application. Equipped with the first-ever Geo fencing and GPS-enabled user face recognition which helps in reducing risks and fraud at ATMs across India, the application helps banks implement RBI guidelines on OTC Lock Activation to ensure the mitigation of risks during ATM operations and enhancing security. This AI-enabled ID verification software is a fully automated OTC and can be generated with or without Internet connectivity along with a compliant audit trail for future verification with a backend reporting portal for real-time updates on usage.
ALGO OTC is a machine agnostic security software and can operate on any ATM OEM with any safe/vault lock. It can also be deployed by banks across the world on their ATMs to become fully compliant with the latest global norms for ATM safety and security. We look forward to introducing ALGO OTC as a software solution to all national and regional banks and assist them in securing their ATMs operations cycle.
- Given the surge in digital banking, how relevant is cash today and what is the future of cash in the economy for India?
Cash is a critical resource with no substitute that fully meets the needs of consumers and businesses. A healthy payments landscape is one that offers a range of payment options, including cash. We have seen a growth of 16% in total currency handled by us in FY 23, and we also see a higher trend in overall cash usage where metro cities are leading ahead.
- RBI’s latest mandate on setting up digital banking units in the hinterlands in, what has been your experience in deploying DBUs?
To support India’s growth in the hinterlands, wider and dense ATM network will be an enabler and will also provide a boost to India’s digital banking march through Digital Banking Units. These DBUs being set up for delivering digital banking products and services as well as servicing existing financial products in both self-service and assisted mode are a conduit to drive bank branch transformation. This will further facilitate access to basic banking services in India. New avenues of indigenous innovative banking infrastructure like DBUs and newer reforms, India will achieve its financial inclusion goals. We are currently conducting a pilot on DBUs with two large banks to exploit its true potential.
