The Silicon Review
In today’s fast changing world, many companies are experimenting with data analytics to propel business, and although they realize data driven processes can benefit their organization, many are still unsure how to make the most out of the accumulated data that they have in store. The financial industry, in particular, has realized that advanced data and analytics technology could provide solutions to some of their biggest challenges such as, retaining customers, keeping up with competition, compliance, and tackling fraud. If implemented with the right technology, data analytics can enable improved insight, efficiency and effectiveness in risk management activities, including internal and external reporting. Greater automation can free up time for risk management resources to spend on risk identification, assessment and control of future risks. This became a leading reason to establish a company named Amruta Inc in the year 2015.
Amruta Inc brings relevant experience in traditional and non-traditional data analytics in solving enterprise level problems across risk, marketing, finance, supply chain, customer, digital, mobile, and social functional areas. Its global workforce helps clients with customized consulting, platform implementation, and managed services engagements.
Dawning of the company
Headquartered in Washington DC, Amruta Inc was established to maximize the insights that were generated from an organization’s data assets in a cost-effective manner. It started its venture by working with banking, financial services, and insurance organizations by addressing the prevailing need for improving the effectiveness of regulatory compliance and risk management through data analytics. This collaboration with organizations from different fields provided the company with additional opportunities like solving marketing, customer-related, and supply chain analytics using data driven approaches.
Amruta Inc’s foundational contribution towards the global IT platform and society at large is to use data pipelines and data science algorithms effectively to solve businesses problems. Its domain, vertical and industry experience provided a context for delivering the solutions that improve revenue, profit, customer experience, and compliance.
Overview of Products
The company’s first product rolled out was a surveillance tool that verifies the compliance of market transactions against the bank policies. This product was used for identifying non-compliant transactions postexecution and for measuring the severity of non-compliance. But later the company used this product to conduct forensic analysis of B2C customer’s orders, which were not fulfilled, and insurance claims that should not have been approved. The first product launch was a successful event as it became the cornerstone of the entire engagement. Thus, by expanding the initial success of the product, Amruta Inc continued to implement other investigative tools that run text algorithms to discover potential risk incidences in communications corpus across the enterprise such as texts, messages, and other documents.
Amruta Inc delivers insights using cloud, business intelligence, decision support, and rules-engine, digital, and mobile technologies to implement business process workflow for its clients. The products and platforms support clients in meeting their risk, compliance, marketing, operations, revenue and profitability needs. The company’s products are based on decades of domain, technology and thorough data analytic expertise. “We ensure that client business and IT teams work in collaboration as we implement our products within their environments and infrastructures,” said Beju Rao, CEO of Amruta Inc.
The roadmap ahead
Amruta has developed into a mammoth multiple industry services based on precise understanding of client’s needs, accurately mapping its solutions to meet the needs, and providing cost-effective platforms and solutions. Continued process innovations, data storage and processing improvements, security efficiencies, network bandwidth utilization improvements, user interface and experience developments, and machine learning advances have helped the company in building and implementing platforms to support strategic, operational and tactical decisions of clients.
Keeping its passion to help clients in mind, the company is ready with a financial crimes compliance product that aggregates customer data across multiple product lines and external sources as part of customer due diligence. The product creates a single profile for each customer and entity, thus resolving data quality issues by identifying and completing any missing data. This profile reveals beneficial owners’ complete information along with a report on each data element’s reliability. The customer profile comprises of a risk profile that will be used in assessing, monitoring and reporting relevant suspicious activity and also to regularly/dynamically update customer information based on well-defined events.
The current big data implementation platform of Amruta Inc can help facilitate data aggregation and insights generation for transaction surveillance, compliance perils and customer issue detection in text corpus, marketing spend effectiveness, fraud and financial crimes, credit risk, market risk, operational risk, price forecasting, product profitability, and device behavior and diagnostics. The new platform features will help in solving additional business problems such as health care quality measurement, optimal workforce scheduling, digital and mobile marketing segmentation and targeting, etc.
Beside the platform enhancement, the company has planned to invest in increasing the strength of its professional services team for implementing the platforms in a more sustainable manner. While its current client base includes banking, financial services, insurance, retail, and travel and transportation industries, it will expand its horizon into health care and other industries too. “We will continue to invest in a global delivery model” sums up Beju Rao.
Greet the key executive
Beju Rao, the CEO, Founder, and President of Amruta Inc. is an experienced enterprise analytics executive with an ability to influence organizational executives and senior management to identify and implement data and information change management. His consultative approach involving situation assessment, precise needs identification, organizational readiness preparation, and information based strategies has enabled numerous enterprises to reap innovative and significant business benefits over the last 27 years of his career. He founded Amruta Inc with a vision to expand and spread the benefits to contemporary organizations.