Rising competition, demanding client requirements, challenging production scenarios, and mounting manufacturing expenditures have pressured manufacturing organizations to balance the topsy-turvy act. It is a matter of utmost importance for the management leaders to take up strong measures to speed up the production with the required quality.
Modern business applications apply technology solutions in Artificial Intelligence (AI), Machine Learning (ML), Blockchain technology, and Internet of Things (IoT) for analyzing, monitoring, informing, updating, and supporting the real-time data that helps in providing high-efficiency in the production schedules with optimum utilization of the resources and manpower. These latest applications have helped in remote controlling, monitoring, and faster production cycles with high-quality output.
EronKan Technologies Pvt Ltd is a prominent technology solution-providing company that has enhanced the business efficiency of numerous organizations through precise technological applications.
Headed by its CEO and Co-Founder, Ketan Parekh, EroNkan’s Industrial IoT Platform works towards providing world-class infrastructure that enables IoT technology to be applied across various industries and verticals.
EroNkan provides the tools, technology, and consulting vision to better understand the floor’s KPIs and give all levels of management real-time insight into the machine performance at the shop floor level. Some of the other real-time features can create tremendous value for awareness and better performance on the shop floor while further enabling the existing workforce.
In an interview with the CIOLOOK India team, Ketan Parekh provided detailed insights about his professional journey and the challenges he faced and tackled while sharing his valuable opinions on the industry and his vision for the future.
Ketan, please brief our audience about EroNkan Technologies Pvt Ltd, its USPs, and how you are currently positioned as one of the best Product/Service/Solution Providers.
EroNkan Technologies is a company that operates in the vastly growing and quickly developing Industry 4.0 space. While Industry 4.0 is an ocean that includes multiple types of technologies and new adoptions, we are mainly focused on the Industrial Internet of Things market. Our company provides Industry 4.0 solutions to help manufacturing firms reduce their losses, improve their capacity utilization, and improve their product yields.
We use IoT technology to capture and intelligently present real-time data from machines, sensors, and third-party systems to create an integrated data lake for manufacturing companies. We are one of the leading IoT solution providers in the FMCG market, which is where we have created substantial value and subject matter expertise for clients.
Tell us more about EroNkan’s offerings and what aspects make it stand out in the cutthroat competition.
I think our proprietary IIoT platform, Plant-Works has multiple products created on top of it that cater to companies in specific verticals. As the vertical industry changes, our solution also needs to be customized. We have done a great job creating certain software products focused on driving positive value, digitization, and benefits for companies in that space.
Please brief us about your journey in the industry and how they have made EroNkan excel in its niche.
Before becoming the CEO and one of the co-founders of EroNkan Technologies, I completed the AMP program from IIT Bangalore and have garnered 25+ years of experience in managing different functions across large MNCs and tech companies. I have been actively involved in the industry 3.0 space since its inception and have experience with enterprise software as well, which helps EroNkan tremendously as our platform is a fusion technology that brings the best of both worlds together.
Being an experienced leader, share your opinion on how the adoption of modern technologies like AI and ML is impacting the Product/Service/Solution space and how is EroNkan adapting to the change?
AI/ML are becoming increasingly important in the new technology adoption space as this is extremely crucial in preventing losses or issues on the shop floor before they occur. Even our company has had to leverage this technology to drive even more value on top of our superior data aggregation and strong manufacturing analytics platforms.
Considering the current scenario, what initial challenges did you face and what are the challenges now and how you are overcoming them?
One of the biggest challenges we have faced is the speed of technology adoption across companies of different sizes. There was no fixed formula to which companies moved quickly in that space and which didn’t, and this led to our sales cycles becoming slightly longer than expected – and COVID didn’t help with this entire issue. However, the productization of our solutions has help us standardize our offerings and has made our life easier.
What would be your advice to budding entrepreneurs who aspire to venture into your industry?
Industry 4.0 is an industry where technology adoption is always a gradual process, and this is the technology of the next 20-25 years. Be patient, focus on having strong technology and solutions and most importantly, focus on solving actual client problems.
How do you envision scaling EroNkan’s operations and offerings in 2022 and beyond?
Our company is now in the scale up stage, where we need to capitalize on the created products in the FMCG space and penetrate deeper into the space. We aim to triple our revenues and growth possibilities in the coming years as we leverage our advanced technology and create solutions to venture into new industries.