INDUSTRIAL INTEGRATION REPORT (ON GODREJ LOCKS AND VENTUREINFOTEK)

16 1 = 15/20 Eligibility Presentation Marks - 36

Submitted by, Aarthi Mohan -01 Anshulika Singh -19 Ashish Pandey -21 Dheeraj Agarwal -26 Manoj Pandey -38 Sangram Kacharia -58 Prinku Jain -50 Vamsi Krishnam Raju -43 (PGDM Batch-12) Kirloskar Institute of Advanced Management Studies, Harihar

1)Objectives of the visit:

1. To get acquainted with the practical application of the concepts of Balanced Score Card and the Business Excellence Model.
2. To get a better understanding of the Business Excellence Model and the Balanced Score

Card. 3. To interact with the various functional heads of the respective manufacturing and service companies.

2)Manufacturing company:
The Godrej Group: This company established in 1897, the Godrej group has grown in India from the days of the charkha to nights at the call centers. Their founder, Ardeshir Godrej, lawyer-turned-locksmith, was a persistent inventor and a strong visionary who could see the spark in the future. His inventions, manufactured by his brother Pirojsha Godrej, were the foundation of todays Godrej empire. One of Indias most trusted brand, Godrej enjoys the patronage and trust of over 400 million Indians every single day. With 7 major companies with interests in real estate, FMCG, industrial engineering, appliances, furniture, security and agri care to name a few their turnover crosses 2.5 billion dollars. Their 20% of business is done overseas. Their presence in more than 60 countries ensures that their customers are at home with Godrej no matter where they go. This is the thing that company promise. Godrej Boyce Locks Division: Godrej, the name etched in metal, secures almost every door in India. Since its inception in 1897 by Ardeshir Godrej, the name Godrej has become synonymous with trust, protection and integrity. Today, after a period of more than 100 years, his legacy continues to ensure a high degree of security to consumers with the implementation of latest technology and constant innovation. With exports of Godrej Locks spanning across various countries, the brand has come a long way in delivering world class locking solutions. They have different level of locking system:

Level 1: Godrej security level 1 locks comes with conventional mechanical locking system with basic security system having lever, wafer, tumbler and single row pin cylinder technologies. Each key is unique with arrange from 200 to 1000 key combinations. Level 2: Godrej Security level 2 comes with highly precise computerized dimple key and advanced multi row pin cylinder technology. Each key is unique with 10 crore key combinations making it unpickable and non-duplicable. Level 3: Godrej Security level 3 comes with Advanced Multirow Pin Cylinder Technology. Each key is unique with 200 crore key combinations. Level 4: The Elite technology called Godrej EWA is a revolution in mechanical locks. These locks are based on the 3 curve system which is characterized by its spring less principle. Locks at this level provide highest protection against picking as compared to any mechanical lock and are compatible to European standards. Each key is unique with 30 lakh crore combinations i.e. as unique as human DNA. Level 5: Godrej SALTO IC card and i-Button electronic technology are based on virtual network, functioned by access control system unlike the conventional mechanical locks. Service company: Venture Infotek: This company is Incorporated in 1997, Venture Infotek pioneered the introduction of ePayments in India, and since then has continued to be instrumental in shaping this industry. The company not only enjoys a tremendous first mover's advantage, but also has in place a superior infrastructure backed by a very professional and experienced management team, headed by the founders, Mr. Dhruv Khaitan and Mr. Piyush Khaitan. Mission Statement: Changing The Way India Transacts. Company Overview: Headquarters and Primary Data Center in Mumbai Disaster Recovery Site (DRS) located at Bangalore 20 regional and branch offices across India ISO 9001:2008 certification awarded by Bureau Veritas accredited by UKAS (United Kingdom Accreditation Services) Quality Management System Fully certified to be compliant with the Payment Card Industry (PCI) Data Security Standards (DSS)

 In-house software development centre with over 60 professionals Offers end-to-end card payment processing solutions for both issuing and acquiring banks High volume transaction processor: Processes 150 Million transactions annually with a commerce value of Rs. 35,000 Cr. (USD 7 Bn) Currently manages transactions emanating from over 160,000 Merchant locations Card issuing programmes for over 5 Million payment and loyalty cards Services available in over 6,000 unique Postal PIN codes across the country

The cards and fulfillment division of Venture Infotek, with the largest state-of-the-art secure card personalization bureau in India has a capacity to personalize around 36 million cards per annum Crossing the digital divide, Venture Grama an initiative from the Integrated Solutions & Services Unit delivers Government Benefits (like Health Insurance for the rural poor under the Rashtriya Swasthya Bima Yojana) through cutting-edge technology, thereby facilitating the inclusive growth and development of the disadvantaged sections of Indias population The merchant business division of Venture Infotek, not only offers multi-application Point-of-Sale terminals to merchants, but also innovative products such as ExchangePlus, a Dynamic Currency Conversion solution. Venture Infotek was declared as the winner of the Indian Merchants Chamber Ramakrishna Bajaj National Quality Award 2008 in the Small Business category. This award was presented to us at a ceremony in Mumbai on March 24, 2009 Venture Infotek along with our partner Welcome Real-time, a global loyalty solutions provider in the payment integrated value-added service space have been conferred with the Best Innovation in a Loyalty Card Award by VRL Knowledge Bank, a trusted source to the global finance community. The award was presented at the annual Cards and Payments Europe conference in Prague on 18th June, 2009, where the industrys leading players were acknowledged for their achievements over the past 12 months Venture Infotek has been declared the winner of the prestigious International Asia Pacific Quality Organization (IAPQO) Best in Class Award 2009

3.1) Manufacturing Company data captured in BEM and BSC models And 3.2) Specific linkages between process and outcomes (in both models)
BUSINESS EXCELLENCE MODEL GODREJ & BOYCE

> LEADERSHIP Mr. Shyam P. Motwani (Business Head), along with the Vice-President and the other functional heads, is responsible for developing the mission, vision and objectives of the organization. The mission of the business is its most obvious purpose which is to provide locking solutions.

The vision of the business reflects its aspirations and specifies the future destination towards which the business is headed, i.e. to become the no. 1 door-lock-making company in the world.

The objectives of a business refer to the ends that activities/tasks are aimed at achieving.

They also set the targets like profit in business, quality improvement, technology improvement with new product development in locking systems, productivity and performance improvement, improvement in effectiveness, team-work, community spirit, supportive leadership and learning & development.

They use performance measurement to review and improve employee- effectiveness and use an annual appraisal system, monetary and non-monetary rewards. It also includes the monthly business performance measurement form, monthly meetings and satisfaction surveys of employees.

They are highly involved in continuous development activities like quality improvement, market growth, new product development and cost-effectiveness processes.

At Godrej & Boyce, leaders believe in innovation and creativity through KAIZEN targets at every level. TPM is implemented by which Zero Accident, Zero Defect and Zero Breakdown are achieved. TPM makes automation and integrated production systems effective. Through TPM, Just-In-Time production system can be achieved. The output of the production system can be measured in terms of Production (P), Quality (Q), Cost I, Delivery (D), Safety (S) and Morale (M). TPM process reduces six big losses like breakdown, setup, idling and minor stoppage, speed losses, defects and reworks, startup & yield losses. The index of efficiency is calculated in terms of OEE, i.e. Overall Equipment Effectiveness, which is the product of Availability, Performance and Quality. OEE should be 85% or more which gives the profit of more than 1.5 times in productivity. Hence Rate of Operation time should be 90% or more, Performance rate should be 95% or more and Quality rate should be 99% or more. Safety management, 5 Ses and Value- engineering are also considered. Training and Development of employees is also an important decision for leaders.

Leaders at Godrej & Boyce always constantly monitor their Customer-satisfaction reports, distribution channels, warranty and suppliers audit. Applying the BEM gives the company

improved focus on specific aspects like customers, financial perspective, Quality improvements etc.

At Godrej & Boyce, improvement is also achieved by technical collaborations with companies like Sulto (Spain).

Leaders also involve themselves in the implementation of strategies and policies:

All policies and strategies must be discussed with all managerial personnel and staff.

Managers must understand where and how they can implement their policies and strategies.

A plan of action must be devised for each department. Policies and strategies must be reviewed regularly. Contingency plans must be devised in case the environment changes. Assessments of progress ought to be carried out regularly by top-level managers. A good environment and team spirit is required within the business.

The missions, objectives, strengths and weaknesses of each department must be analyzed to determine their roles in achieving the businesss mission. The forecasting method develops a reliable picture of the businesss future environment.

A planning unit must be created to ensure that all plans are consistent and that policies and strategies are aimed at achieving the same mission and objectives.

Contingency plans must be developed, just in case.

The leaders involve themselves in making the organizational structure. They interact with customers for business improvement, political and social leaders for societal improvement and employees for productivity improvement. They are accessible to their employees right from the top to the bottom levels, for help and support. Godrej & Boyce has received the Helen Keller Award for providing employment opportunities to the physically-challenged people.

2. PEOPLE

At Godrej & Boyce, people includes shareholders, customers, employees, dealers, suppliers and society. Shareholders are concerned with the rate of return and capital management, customers being concerned with the quality system, delivery, satisfaction, new products and cost effectiveness. Employees and Dealers are concerned with recognition, satisfaction, safety, training & development and welfare. For the societal aspect, their concern for the environment is demonstrated by their helping the Mumbai environment by planting Mangroves near the Vikhroli area; as also by their initiatives in education, welfare, etc. At Godrej & Boyce, the human resource policy is reviewed annually and they emphasize on openness, high performance, rising standards, state-of-the-art technology, quality, team work, supportive culture, introspection, learning & development, automation, etc. Hence, policies like the recognition policy, job rotation policy, job enlargement policy, training & development policy, remuneration policy, recruitment policy, physically-challenged employee policy and recruitment policy are developed for the satisfaction of their people. They give importance to recruitment and career development, career growth opportunities, work-life balance, succession plan, ERP, 5 Ses, performance management, etc. For the recruitment of GET and management trainees, Godrej & Boyce select premium Engineering and Management Colleges respectively. Their parameters for selection are analytical and logical ability, communication skills, initiative & drive, innovative approach, leadership quality, stress management, interpersonal skills, team skills, customer orientation, problem solving and change-management. They empower people, so that involvement and participation can increase. They organize different activities for involving people like Kaizen competitions, Annual day, Sports event, cultural events, Safety week, etc. Godrej & Boyce has developed communication channels for people to freely express their opinions and suggestions for improvement. Bottom-line employees can directly contact the CEO of the organization.

HR people promote awareness and involvement in environmental, health and safety issues and social responsibilities. Godrej is involved in providing education to poor children, clothes and food to orphans, a green environment, medical facility, donation to NGOs, etc.

> POLICY AND STRATEGY

The top-most level of management mainly comprises of the Godrej family, who are the main stakeholders in decision-making. They identify and understand the needs and expectations of the Godrej family. The strategies involve exports to different countries, pricing, positioning, logistics, engineering, cost reduction, new product development, domestic market, profitability, fixed and variable cost, working capital, manpower utilization, inventories, ratio analysis, production targets, customer satisfaction and complaint solving, quality, sales promotion, etc. The strategies for these processes are based on the basis of information from the internal performance indicators, learning activities and economic and demographic conditions. They review it on weekly, monthly, quarterly and annual bases. The policies and strategies for customers are aimed towards providing reliable safety locks for every segment that they cater to, competitive price, and a structured distribution channel. Godrej & Boyce is the only company in India who has a structured distribution channel. For shareholders, foreign and domestic market focus, material cost reduction, productivity increase, manufacturing cost reduction. For employees, best salary in the industry, healthy work culture, career growth and job satisfaction. For suppliers, it is mutual growth, long relationship, payment policy, financial support, technical support and productivity improvement. For society they contribute to the well being of society, monetary help to relief fund and NGOs, environment consciousness, health and education.

PARTNERSHIP AND RESOURCES

The partnerships are entered into, considering quality, technical competence, financial status, location, knowledge, skills and attitude. Supplier development includes their willingness to grow, improvement in productivity and quality, systems, machines, certifications, cost and capacity. They believe in sharing knowledge with the suppliers and supporting mutual development and value addition. Vendor rating and review is done for feedback and performance improvement. Dealership network is developed according to the product and the market. Dealers review and performance is assessed by the marketing department. Categories are made according to the ratings.

PROCESSES

For customers, the business process should focus on customer satisfaction through improved service and field-complaint analysis, new product development for retaining their no. 1 position in providing locking solutions; strategic planning that includes long term and short term planning to help finding new markets and identifying customer requirements and a Quality Management System for product reliability. For shareholders, the focus would be on cost saving processes by continuous improvement and fixed-cost reduction, working capital management, adopting methods like TPM, Kaizen, Poka Yoke, 5S and 7 QC tools. Using ERP system improvement can be achieved in every department. Using Kanban card, helps in inventory management. For employees, training & development and welfare activities are provided. For suppliers, they upgrade suppliers and supply chain management, reduction in lead time, reduction in throughput time at vendors end. They also do advance product quality process and control processes for vendors that include Process failure mode and effect analysis.

BALANCED SCORE CARD

Be among top 3 Lock Company globally by 2012

F I N A N C I A L

Reven ue

Be a dominant player in domestic market in all segments

Grow internation al business

Be the lowest cost manufacturer of locks globally

C U S T O M E R

End customer

Enhance customer satisfaction through reliable, cost effective, safe and good value product and service Increase accessibility for customer

Enhance value for channel partner

Enhance product offering

Value creation citizenship

P R O C E S S

corporate

Design & Developm ent

Manufacturing and Vendor management

Sales & Marketi ng

Excel in corporate governanc e social responsibili ty

L E A R N I N G

Culture & Climate for action improvement Align

Employee to company strategy Create high performa nce culture amongst employee s

Develop strategic competencies

continuous

Enhance employee satisfaction GODREJ & BOYCE

Identify and acquire information technology in line with company strategy

Strategic competencies

Excel in the journey to excellenc e

Since the launching of the scorecard system, Godrej & Boyce now have a greater organizationwide focus on strategic objectives and goals as set by the senior management team. The workforce is now clearly focused on the customer and on improving critical processes. They have achieved alignment, and integration, of objectives both across the company and from top to bottom, i.e. both horizontally and vertically. CREATING A BALANCED SCORECARD SYSTEM

Balanced Scorecard in Godrej & Boyce comprises the measures, targets, ownership and initiatives that support the strategy map. Here Balanced Scorecard was created by putting in place high-level steering committee includes functional heads and some key officers. SCORECARD DELEGATION Here BSC cascades to the lowest working level in the organization. For this process they are trained by consultants but now this is done by employees only. The visible benefits secured from the systematic evolution and review of the score card at all levels has led to wholehearted appreciation of the balance scorecard concept. STRATEGY MAP Be a dominant player in the segment in which it is manufacturing and strengthen presence in domestic lock market by increasing market share. CHALLENGES Although it has already achieved a great deal through scorecard usage, there are still challenges ahead. Continuous improvement in the Balanced Scorecard process, which is beneficial to all the functions and Departments, is seen as important to maintaining momentum. Thus, maintaining momentum requires continuous communication to all employees. Every year, the MD initiates this process by sharing the company vision, mission, future directions, and strategy in annual meeting. Within each department, it is re-iterated by the HOD in monthly meeting. CRITICAL SUCCESS FACTOR 1.The active and visible support of senior management. 2.A strong review process. 3.A knowledge team to drive and support scorecard deployment.

4.1)Service company data captured in BEM and BSC models

Venture Infotek BEM Model

1. Leadership

Excellent Leaders develop and facilitate the achievement of the mission and vision. They develop organisational values and systems required for sustainable success and implement these via their actions and behaviours. During periods of change they retain a constancy of purpose. Where required, such leaders are able to change the direction of the organisation and inspire others to follow. 1a Leaders develop the mission, vision, values and ethics and are role models of a culture of . Excellence. Mr. Dhruv Khaitan - Founder and Chairman has largely been involved in the creation of high technology businesses, which required pioneering efforts, to bring in new concepts and technologies. Thus he developed the vision for the company Changing The Way INDIA Transacts The values of the organization are

Respect and Empathy Transparency and openness Integrity and Ethics Customer Focus Result orientation Team work

The management team in Venture Infotek is highly focused and is involved in bringing excellence in the organization through various projects and training programs.The programs include Six sigma,Kaizen,Lean etc. The top Leadership constantly communicates with the employees to ensure that they are working towards achieving the companies Vision, Mission and Objective.The company has an objective of installing 30 million POS till 2014.

1b Leaders are personally involved in ensuring the organisations management system is . developed, implemented and continuously improved. The top management of the company constantly reviews the various processes and updates it as per the changing Business environment. 1c Leaders interact with customers, partners and representatives of society. . The leadership interacts closely with the banks in the payment card industry at all levels, international card associations like VISA , Mastercard, and American express and also actively involves in discussion with the Reserve Bank of India. 1d Leaders reinforce a culture of excellence with organisations people.

The company has a bi-annual meet (Townhall) with the employees in which it discusses the future prospects of the company and its strategy to achieve its objectives.

1e Leaders identify and champion organisational change . There have been several changes in technology and customer solutions, which have been closely monitored by the leadership.

2. Policy & Strategy

Venture Infotek has implemented its mission and vision by developing a stakeholder focused strategy that takes account of the market and sector in which it operates. Policies, plans, objectives, and processes are developed and deployed to deliver the strategy. 2a. Policy and Strategy are based on the present and future needs and expectations of stakeholders. The Company has a policy to keep expanding its businesses which increases the customer base and the revenue of the company. 2b Policies and Strategy of Venture Infotek are Customer oriented and have focus on Quality. . Venture Infotek is committed to exceeding customer expectations, delivering customers an exceptional experience and redefining the world of transactions. 2c. Policy and Strategy are developed, reviewed and updated. The Companies vision provides the guidelines for developing, reviewing and updating policies and strategies. The top management constantly reviews its policies and makes relevant changes from time to time. 2d Policy and Strategy are communicated and deployed through a framework of key processes. . The policies of the company are based on the values of the company which provide the framework for the key processes. The company has its business policy uploaded on the website which can easily be accessed and should be followed by each employee.

3. People Venture Infotek manages, develops and releases the full potential of their people at an individual, team-based and organizational level. Venture Infotek, believes that the people are its greatest strength. The success of its people is the base for its competitive advantage in business. The company provides its people with meaningful and challenging roles that add value to the career aspirations of its employees. 3a. People resources are planned, managed and improved.

The company has an intensive selection procedure. They hire people who already have experience in the industry. They have a flat organizational structure which helps in accessing people at all level and improve the organisations efficiency. 3b Peoples knowledge and competencies are identified, developed and sustained. . The company believes that the people are the key drivers of their business. The knowledge base of its employees is the key to achieve service excellence. The training and development effort emanates out of this understanding. The company has a clear and an ambitious Training & Development plan in place that not only caters to the organizations needs but also benefits the employees, such as Six Sigma Training, Leadership Programmes and Relationship Management Programmes.. 3c. People are involved and empowered.The Flat organizational structure empowers the employees and encourages them to be a part of improvement activities at all levels. 3d People and the organisation have a dialogue.The company has several platforms to . communicate with its employees.Some of them are Bi Annually Town hall, Venture Infotek delight etc. 3e. People are rewarded, recognised and cared for.At Venture Infotek they strongly believe that timely recognition of efforts and even small successes should be recognized and rewarded. Hence, on the spot recognition and structured reward programs are some of our endeavors in this direction

4. Partnerships & Resources Venture Infotek has partnership with various banks and corporate which enables the company to increase its business at a great pace. Some of the Business associates are

The company has the best technology which helps in enhancing customer experience. Venture Infotek has aimed to absorb the best of payment transaction technologies and implement the same in the companys solutions for the benefit of customers. The emphasis has always been to provide Reliability, Scalability, Security, Customization and Superior Performance in all solutions, thus ensuring continuity as the customers business needs grow. 4a. External partnerships are managed.The company has partnership with several big companies which are mentioned above. 4b Finances are managed. . 4c. Buildings, equipment and materials are managed. The company has its primary Information centre at Mumbai and Disaster Recovery Site (DRS) at Bangalore, which ensures business continuity for its customers and business partners, in case of any disaster or major information service disruption at its primary data centre in Mumbai. 4d Technology is managed. . Venture Infotek has aimed to absorb the best of payment transaction technologies and implement the same in the companys solutions for the benefit of customers. The emphasis has always been to provide Reliability, Scalability, Security, Customization and Superior Performance in all solutions, thus ensuring continuity as the customers business needs grow. 4e. Information and knowledge are managed.

The company uses the latest multiple terminal platform suiting various business and application requirement which keeps the information easily accessible by its business partners and customers.

5. Processes Recruitment process- The recruitment process is designed in a way that it hires only the best quality of people who can deliver from the day they join the company. The Induction process provides new employees an insight to the companies vision and values and how they will play their part in the organization . Communication process- The Company encourages the employees to give their suggestions through a feedback form. The company has a regular feedback process in which it looks at the opportunities and improvement areas. Training process-The employees of the company are sent to several external training programs in India so as to help improve their innovation and creativity,on the other hand, the soft skill training is spear headed by a group of trained external professionals, who are recognized leaders and specialists in their field. In addition, the employees are sent to attend various programs and seminars to gain updated industry knowledge in their respective areas. Research process-Venture Infotek accentuates relaying of information pertaining to the latest trends, industry analysis, and market insights assembled through core research. The Industry Survey is an annual feature from the Venture Infotek Research Team providing the trends, statistics and a rich analysis of the Payment Cards Industry in India. 5a. Processes are systematically designed and managed. The company has well defined processes which enable it to achieve excellence by satisfying the customers and the stakeholders.Some of the processes of the company are recruitment processes, quality review and quality management processes, customer relationship management processes. ,risk management process ,payment process. 5b Processes are improved, as needed, using innovation in order to fully satisfy and generate . increasing value for customers and other stakeholders.The company takes feedback about various processes and uses six sigma methodology to improve its processes in order to increase its value for customers. 5c. Products and Services are designed and developed based on customer needs and expectations. Looking at the huge demand for Plastic money, the company has increased its capacity to make cards. The company is also associated with agencies like Gramin Vikas Yojna in which it makes insurance cards for rural families.

5d Products and Services are produced, delivered and serviced. The company provides end to . end support to all the card holders of the various banks which are its customers.

5e. Customer relationships are managed and enhanced. The company has a customer service center which caters to the needs of the customers at all hours. The company also provides customized services to its customers (various banks and corporate).

Results 6. Customer Results Venture Infotek has a customer focused approach and ensures that they get the best experience from its services. The latest technology provides the customers uninterrupted services which results in satisfied customers. The Customer Satisfaction Survey reveals that the customers have been highly satisfied with the services. The company has introduced new technology which has resulted in fewer transaction failure and reduced transaction time(from 6 sec to 3 sec/transaction).The availability of POS machines has increased, and the customer has greater accessibility to plastic money. Thus these measures have enhanced customer experience.

7. People Results Venture Infotek comprehensively measures and achieves outstanding results with respect to its people. The Company has excellent people policies which have resulted in low attrition rate (compared to industry standards). The employees have positive synergy and their goals are aligned with the goals of the organization. The employees are motivated and always ready to accept new challenges. The company has 5 black belts, 35 green belts and 45 yellow belts at senior and middle management level. 8. Society Results

Besides being an environmentally conscious company, an important element of the companys corporate social responsibility is to care for the society. The company strives to make a constructive contribution to the disadvantaged communities by supporting a wide range of socioeconomic and educational initiatives. The employees actively participate in the community projects and programs. Many of our employees have volunteered for the Teach India Programme and dedicate a couple of hours every weekend to teach and educate the destitute. Our pledge to address imperative societal needs extends throughout our philanthropic outreach programs.

Blood Donation Camp: As part of Venture Infoteks Corporate Social Responsibility (CSR) initiative, a camp was held on 25th June, 2009, at the companys office premises in Mumbai (Malad).The camp was jointly organized by Venture Infotek along with The Rotary Club of Mumbai Midtown, Mumbai Thalassemia Society and KEM Hospital.

9. Key Performance Results Customer base increased-The Company has increased its customer base by 33% in the last 5 years. The company has several public sector bank, private sector bank, multinational banks and many corporate as its customer. Revenue increased-The Company has seen a tremendous growth in the past 5 years and has increased its revenue by 53.4% The no. of transaction failure and the transaction time reduced- With the advent of new technology the company has been able to provide excellent customer experience through reduced number of failed transaction. Attrition rate reduced- With excellent processes in place, the company has been able to reduce its employee turnover by 2 percent. The company has excellent training and development programs which have resulted in better future prospects for the employees and the company. The companys dynamic environment offers new challenges for its employees which lead to better productivity. Extension of business The Company has been extending its business every year. They have ventured into making card not only for banks but also for government agencies like Gramin Vikas Yojna in which it makes insurance cards for rural families.

BSC Model Vision: Changing The Way India Transacts.

Financial Perspective:

Venture Infotek offers end-to-end card payment processing solutions for both issuing and acquiring banks, processing 150 Million transactions annually with a commerce value of Rs. 35,000 Cr. (USD 7 Bn). Venture Infotek currently manages transactions emanating from over 160,000 Merchant locations and Card issuing programmes for over 5 Million payment and loyalty cards. Our services are available in over 6,000 unique Postal PIN codes across the country. Venture Infotek aims at absorbing and offering the best of payment and loyalty solutions, services and technologies to its current and future customers. With an emphasis on Reliability, Scalability, Security, Customization and Superior Performance in all solutions and services, Venture Infotek ensures continuity as the customer's business need grows. Today, the company has strategic partnerships with the global best in their respective fields, to bring together a basket of products and services, catering to the requirements of the Plastic Card Industry. As told by Mr.Ram Gupta (executive Merchant Business, Venture Infotek) , here in India out of 1.5 to 2 crore merchants only 4 to 5 lakhs are terminalised ,so its a huge scope for business to grow. The company is working to increase its capacity and grow as number 1 in India of its kind. Company is planning to get 30 lakh POS terminals till 2014. The company has been extending its business every year. They have ventured into making card not only for banks but also for government agencies like Gramin Vikas Yojna in which it makes insurance cards for rural families.

Customer perspective: Venture Infotek manages end-to-end e-infrastructure, which integrates the best of the breed external products with internally developed application software and middleware into a unified core platform. Regional hubs of Venture Infotek are present across 19 cities in India, and connected electronically to merchant networks spanning across the length and breadth of the country. All the regional hubs are linked to the Primary Data Center located at the headquarters in Mumbai and is fully equipped with the latest state-of-the-art physical, IT and security infrastructure. The Disaster Recovery Site (DRS) at Bangalore ensures risk free business continuity to customers and business partners. Since inception, Venture Infotek has aimed to absorb the best of payment transaction technologies and implement the same in the companys solutions for the benefit of customers. The emphasis has always been to provide Reliability, Scalability, Security, Customization and Superior Performance in all solutions, thus ensuring continuity as the customers business needs grow.

The breadth of their terminal platform expertise is ever growing and includes those from leading terminal manufacturers. The in-depth knowledge gained on these Terminals and Platforms can be turned to the advantage of our customers to develop application on the platforms of their choice. Some of the Terminals they have developed expertise on include the following:

VeriFone (Verix TXO, TCL Platforms) Schlumberger (MagIC platform) Hypercom Intellect Lipman KeyCorp Dionica PAX Ingenico Geodesic

Their customers include public sector banks like Andhra Bank, BOI, Bank of Maharashtra , Canara Bank, Central Bank of India, Dena Bank, Union bank, J&K Bank, SBI etc. private banks like Axis Bank, ICICI, Kotak Mahindra, Yes Bank etc. and multinational banks like American Express, Barclays, Citibank, Deutsche Bank, HSBC and Master Card. And Venture Infotek is committed to exceeding expectations and delivering their customers a flawless experience. Venture Infotek strives to enhance this commitment through:

Ensuring customer success by providing technical leadership, business solutions and new products Aligning processes to meet regulatory and security requirements Championing the process of continual improvements in everything they do Providing a work environment that fosters employee development and satisfaction Nurturing business partner relationship with suppliers Responsiveness to client needs with customer first in mind Venture Infotek follows quality measures as Six sigma, Kaizen, ISO 9001:2008, 5S. Training in Kaizen module is provided to all Employees Currently following Six Sigma resources are available in Venture Infotek 5 Black Belts 35 Green belts 45 Yellow Belts

Internal perspective: Standards and conventions play a vital role in ensuring compatibility between products and solutions from various vendors. Certification to globally recognized standards acts as a

differentiator between the players in any industry. Venture Infotek is well conversant with various standards and industry best practices and incorporates the same in its solutions and delivery mechanisms. Venture Infoteks implementation and certification to standards include: ITIL - Information Technology Infrastructure Library o Venture Infotek has adapted the Information Technology Infrastructure Library (ITIL) set of concepts and policies for managing Information Technology infrastructure, development and operations o ITIL provides detailed IT practices with comprehensive checklists, tasks and procedures that Venture Infotek has tailored to its IT organization needs o Following the ITIL guidelines and practices has enabled Venture Infotek to maintain and ensure high standards of service availability and quality to its customers Some of the other standards that are in the process of being implemented at Venture Infotek are: PA DSS 1.2 for Payment Applications developed at Venture Infotek ISO 27001 for the ISMS implementation at Venture Infotek

Venture Infotek merges end-to-end e-infrastructure, which integrates best of the breed external products with internally developed middleware, into a unified core platform. This core platform comprises of the following elements: 162,000 plus strong terminal network, located in 900 plus cities and towns across the country and connected electronically to the regional hubs of Venture Infotek in 19 cities A centralized 24X7 hosting and data processing facility, linked on-line into hubs and field devices placed all over India, with international gateways 500 strong dedicated service force to maintain and service the e-infrastructure A suite of specialized software products, hosted within this e-Infrastructure Customer Support Centers in 33 cities PAN India catering to each of the cities in which VI has its terminal presence A back-office process outsourcing facility, with domain specific experts for different vertical segments A team of Consultants, with domain specialization in different vertical segments, along with a Solution Testing/Development facility

Being one of the marker leaders in payment transactions technology, Venture Infotek realizes the need for building scalable applications to address the growth in the business of their customers through increased number of transactions. Venture Infotek achieve the same by designing their solutions on N Tier architecture, separating the business logic and the database

thereby minimizing the impact of technology and requirement changes. Deployments of this architecture also apply to the choice of application platforms, enabling their customer to optimize their current investments or in opting for the platform of their choice. As the result of their best practices Venture Infotek has achieved fewer transaction failures and reduced transaction time(from 6 sec to 3 sec/transaction).

Learning and Growth perspective: As said by Mr. Piyush Khaitan, Managing Director, Venture Infotek on winning International Asia Pacific Quality Organization Best in Class Award 2009 We are committed to Business Excellence and Innovation, and have consistently invested in building a Quality culture within our organization to help serve our customers better. Venture Infotek is Championing the process of continual improvements in everything they do. Rigorous internal quality audit is done thrice in a year to identify the improvement aspect of the system. Kaizen Initiative Kaizen initiatives implemented across the organization Around 100 kaizen projects completed in last 2 years in the areas of Quality, Cost, Delivery Recognition Award received from Confederation of Indian Industry (CII) for one of the top ten best Projects in Kaizen Competition held in 2008. Kaizen Training in Kaizen module is provided to all Employees Total No of kaizens completed in 2007-08 73 kaizens No of kaizens completed in 2009 so far - 18 kaizens Venture Infotek is implementing Six Sigma initiatives across the organization Currently following Six Sigma resources are available in Venture Infotek 5 Black Belts 35 Green belts 45 Yellow Belts Plan to create more Yellow Belts & Green belts at Senior & Middle Management levels Other than that Venture Infotek will be the first third-party processor in India to provide highly robust and scalable end-to-end Acquiring Management Services for Diners Club and Discover cards in India. NeoWorth, the merchant business division of Venture Infotek, not only offers multi-application Point-of-Sale terminals to merchants, but also innovative products such as ExchangePlus, a Dynamic Currency Conversion solution. Crossing the digital divide, Venture Grama is an

initiative from Venture Infotek on developing cutting-edge technology and making it available to the rural poor.

4.2) Specific linkages between processes and outcomes (in both models)
Processes The recruitment process is designed in a way that it hires only the best quality of people who can deliver from the day they join the company Training Process- Six sigma, Kaizen, 5S etc. Outcomes This process provides new employees an insight to the companys vision and values and how they will play their part in the organization . Innovative ideas and motivated employees Low Employee Turnover Updated Industry Knowledge Knowledgeable pool of employees Better understanding of customers Better understanding of employees Leads to innovation by inviting suggestions Improves customer and employee satisfaction The reseach helps the leadership in making accrate business decision. It also provides the trends, statistics and a rich analysis of the Payment Cards Industry in India. It helps in designing expansion strategies Its helps in getting the latest technology and enhance customer experience

Communication process- Good channel of communication within and outside the organization

Research process

5) Similarities and difference between Manufacturing and Service organizations.

Similarities between Manufacturing and Services. Demand management- Both Godrej and Venture Infotek have to forecast the demand, and manage their production accordingly. Whether it is a service or the manufacturing unit, they have to plan their resources according to the demand from the customer. Customer relationship management- The customers are the pivot around which all the processes of these companies are designed. The customers are equally important for both these companies, hence they lay special emphasis on the customer satisfaction and customer relationship management.

Quality Management- Both the companies use ISO certification, six sigma, lean and kaizen to enhance the quality of their product. Both the companies focused on Total Quality management. Use of technology- Both the companies use the latest technology to enhance their customer experience. People factor - Both the companies consider people as its most important resource, and work towards rewarding them and keeping them motivated. Society- Both the companies take up several activities which help the society. Godrej has 5 acres of land planted with natural vegetation which are known as the lungs of Mumbai. It also involves itself with several social activities as part of corporate social responsibility. At Venture Infotek the employees actively participate in the community projects and programs. Many of their employees have volunteered for the Teach India Program. They also organize blood donation camps.

Difference between manufacturing and services 1. Productivity is more easily measured in manufacturing operations than services. In manufacturing locks, Godrej can easily measure the productivity of each individual and machine. In the service industry it is difficult to measure the productivity due to the human factor involved. People are involved in a variety of jobs. Hence identifying standard productivity level is difficult. 2. Quality standards are more difficult to establish and product quality is more difficult to evaluate in service operations. While making locks, it is easier to measure the quality of the locks. In providing services, identifying the quality of the service is difficult. 3. Services involve more direct contact with the customer than manufacturing operations. 4. Manufacturing operations can increase and decrease finished goods inventory levels in response to change in customer demand patterns. There can be no inventory in the service sector. 5. Productive operations are usually separated from consumption and consumers are remote in time and space from production while services are consumed as soon as they are produced.

6) Specific insights on BEM and BSC models based on practical (Visit) experience.
The companies have been able to streamline their processes and enhance their productivity with the help of these models. BEM has provided a framework to these companies which resulted in continuous improvement in management and deployment of processes to engender wider use of best practices. On our visit to these companies we found how the leaders communicate the vision and mission of the organization to the employees at various platforms (town hall meetings, reward and recognition programmes etc.) We also found that these companies considered people as their most important assets which could decide the future of the organization. They pay special attention to employee development and training and ensure that the processes in the organization are standardized to support the company and people objective. These companies have entered into partnership with vendors and other companies to enable the processes in the direction of achieving organizational goal. The companies have been able to achieve customer satisfaction through process improvement( six sigma, kaizen, 5S etc.) The companies have been involved in several social welfare activities as explained earlier. On the basis of these results companies evaluate their processes and performance and improve them to achieve greater efficiency and effectiveness in future. Thus we were able to understand the various aspects of BEM and BSC through the practical experience that we got through the companies we visited. Both the companies are following only BEM model still the insights are more or less same for the BSC.

7) Suggestions for future visits.

Since we have limited time to spend with the company employees, understanding the models and their processes, so we should get 1 extra day to spend with the manufacturing unit. On a particular NID students should visit nearby industry to get a real time experience of how an industry actually works. Before going to the industrial visit, students should have a mock question answer session with faculty. Every individual group going to different industries for industrial integration should be well prepared with the corporate presentation ,which will help in promoting our college.